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Online Pheonike

Overstock Files to Offer Stock That Works Like Bitcoin
« on: April 27, 2015, 05:23:39 PM »

We got a mention in this article!!

"His project is just one of many that seek remake the stock market using bitcoin technology, such as NXT, Mastercoin, Bitshares, and Counterparty. At one point, Overstock hired some of the primary developers behind Counterparty, but these engineers have since left the company"

http://www.wired.com/2015/04/overstock-files-offer-stock-works-like-bitcoin/?mbid=social_twitter

Offline MrJeans

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Re: Overstock Files to Offer Stock That Works Like Bitcoin
« Reply #1 on: April 27, 2015, 05:35:21 PM »
 +5%

Offline luckybit

Re: Overstock Files to Offer Stock That Works Like Bitcoin
« Reply #2 on: April 27, 2015, 05:50:17 PM »
We got a mention in this article!!

"His project is just one of many that seek remake the stock market using bitcoin technology, such as NXT, Mastercoin, Bitshares, and Counterparty. At one point, Overstock hired some of the primary developers behind Counterparty, but these engineers have since left the company"

http://www.wired.com/2015/04/overstock-files-offer-stock-works-like-bitcoin/?mbid=social_twitter

It also shows that Bitshares will have to register with the SEC as an ATS or some company will have to build on top of Bitshares and do this.
https://en.wikipedia.org/wiki/Alternative_trading_system
Quote
According to Overstock’s filing, the company would offer its digital security through what’s called an alternative trading system, or ATS. This is essentially a stock market alternative that must be registered with the SEC.

Overstock can be first and be the ultimate test case. If the SEC approves of them then the floodgates could be open and dozens of companies could look to build ATS services on top of Bitcoin, NXT, Bitshares, Ethereum, etc.

This is an important decision which could determine the fate of Bitshares and the entire industry. If the SEC approves we all win.
« Last Edit: April 27, 2015, 05:52:14 PM by luckybit »
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Offline Empirical1.2

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Re: Overstock Files to Offer Stock That Works Like Bitcoin
« Reply #3 on: April 27, 2015, 06:14:46 PM »
Does anybody know anything about the developers he's hired?

The Counterparty guys left, I'm surprised some of the BitShares devs/BM weren't approached in some capacity.
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Offline nomoreheroes7

Re: Overstock Files to Offer Stock That Works Like Bitcoin
« Reply #4 on: April 27, 2015, 06:19:15 PM »
Does anybody know anything about the developers he's hired?

The Counterparty guys left, I'm surprised some of the BitShares devs/BM weren't approached in some capacity.

You never know... :P

(lol this feels like a repeat of 6 months ago. We all know how that speculation turned out.)

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Re: Overstock Files to Offer Stock That Works Like Bitcoin
« Reply #5 on: April 27, 2015, 06:22:57 PM »
Does anybody know anything about the developers he's hired?

The Counterparty guys left, I'm surprised some of the BitShares devs/BM weren't approached in some capacity.

They offered $350K per annum to toast....
He said "NO! I live music and beachchairs... ahh bitshares"...

Offline triox

Re: Overstock Files to Offer Stock That Works Like Bitcoin
« Reply #6 on: April 27, 2015, 08:41:04 PM »
I'm surprised some of the BitShares devs/BM weren't approached in some capacity.

Byrne was pretty clear in an LTB interview that he hated the centralized, corporate approach of certain projects. I suspect this fiasco was the primary reason for i3's sudden shift to the community lingo.

Offline Riverhead

Re: Overstock Files to Offer Stock That Works Like Bitcoin
« Reply #7 on: April 27, 2015, 10:19:31 PM »
Does anybody know anything about the developers he's hired?

The Counterparty guys left, I'm surprised some of the BitShares devs/BM weren't approached in some capacity.

They offered $350K per annum to toast....
He said "NO! I live music and beachchairs... ahh bitshares"...

beachchairs :D .

While speculation and rumours often turn out to be unfounded they sure can be fun. Given the recent decisions about crowd funding the waters are certainly warming up to new financial engines.

Offline luckybit

Re: Overstock Files to Offer Stock That Works Like Bitcoin
« Reply #8 on: April 27, 2015, 10:56:55 PM »
I'm surprised some of the BitShares devs/BM weren't approached in some capacity.

Byrne was pretty clear in an LTB interview that he hated the centralized, corporate approach of certain projects. I suspect this fiasco was the primary reason for i3's sudden shift to the community lingo.

I3 was always a corporation, Bitshares was always a community. It had nothing to do with Byrne. It's more that the metaphor I3 used changed because of confusion over the SEC.
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Offline fuzzy

Re: Overstock Files to Offer Stock That Works Like Bitcoin
« Reply #9 on: April 27, 2015, 11:25:39 PM »
I'm surprised some of the BitShares devs/BM weren't approached in some capacity.

Byrne was pretty clear in an LTB interview that he hated the centralized, corporate approach of certain projects. I suspect this fiasco was the primary reason for i3's sudden shift to the community lingo.

One of the reasons BM has internal pressure (internal as in his own head) to try to keep some things secret is because he has been open about how to accomplish many things and has had those ideas taken without the ones taking them even giving him (and indirectly BitShares) any credit.

BM and the team actually spent a good deal of time working with Patrick in the early stages which had the entire community thinking Patrick was going to work with bitshares.  Instead it seems he let Dan give him free consultations and then ran off to use his vast resources to try to build Dan's vision with a competitor who has no real innovation compared to bitshares. 

So don't be surprised...they were approached, and imho used pretty unethically.

If I'm incorrect, of course, anyone with more accurate info please feel free to correct me with more accurate details.
« Last Edit: April 27, 2015, 11:39:50 PM by fuzzy »
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Offline iHashFury

Re: Overstock Files to Offer Stock That Works Like Bitcoin
« Reply #10 on: April 28, 2015, 10:19:39 AM »
Correct me if I'm wrong but I though Bitshares already has the code base to allow Overstock to issue and control stock.

Offline xeroc

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Re: Overstock Files to Offer Stock That Works Like Bitcoin
« Reply #11 on: April 28, 2015, 02:25:16 PM »
Correct me if I'm wrong but I though Bitshares already has the code base to allow Overstock to issue and control stock.
Since 0.9.0 .. only thing missing: documentation .. maybe I can finally write a short intro into uia today/tomorrow
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Offline infovortice2013

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Re: Overstock Files to Offer Stock That Works Like Bitcoin
« Reply #12 on: April 28, 2015, 02:29:20 PM »
Does anybody know anything about the developers he's hired?

The Counterparty guys left, I'm surprised some of the BitShares devs/BM weren't approached in some capacity.

They offered $350K per annum to toast....
He said "NO! I live music and beachchairs... ahh bitshares"...

hell yeah !    +5%
New Keyoteeid: 5rUhuLCDWUA2FStkKVRTWYEqY1mZhwpfVdRmYEvMRFRD1bqYAL
new08/21 id 5Sjf3LMuYPSeNnjLYXmAoHj5Z6TPCmwmfXD6XwDmg27dwfQ

Offline iHashFury

Re: Overstock Files to Offer Stock That Works Like Bitcoin
« Reply #13 on: April 28, 2015, 05:32:07 PM »
Correct me if I'm wrong but I though Bitshares already has the code base to allow Overstock to issue and control stock.
Since 0.9.0 .. only thing missing: documentation .. maybe I can finally write a short intro into uia today/tomorrow

Marketing Delegates should be all over this  +5%  +5%  +5%  +5%  +5%  +5%

Offline maqifrnswa

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Re: Overstock Files to Offer Stock That Works Like Bitcoin
« Reply #14 on: April 28, 2015, 06:17:24 PM »
We got a mention in this article!!

"His project is just one of many that seek remake the stock market using bitcoin technology, such as NXT, Mastercoin, Bitshares, and Counterparty. At one point, Overstock hired some of the primary developers behind Counterparty, but these engineers have since left the company"

http://www.wired.com/2015/04/overstock-files-offer-stock-works-like-bitcoin/?mbid=social_twitter

It also shows that Bitshares will have to register with the SEC as an ATS or some company will have to build on top of Bitshares and do this.
https://en.wikipedia.org/wiki/Alternative_trading_system
Quote
According to Overstock’s filing, the company would offer its digital security through what’s called an alternative trading system, or ATS. This is essentially a stock market alternative that must be registered with the SEC.

Overstock can be first and be the ultimate test case. If the SEC approves of them then the floodgates could be open and dozens of companies could look to build ATS services on top of Bitcoin, NXT, Bitshares, Ethereum, etc.

This is an important decision which could determine the fate of Bitshares and the entire industry. If the SEC approves we all win.

 +5% to all of this
And I think the new referral pay system will enable someone to properly file with the SEC as their gateway will be approved, and all transactions/customers through their gateway will generate income.

bitshares is just the medium, just like no one had to register "the internet" to allow ETRADE to exist, but ETRADE has to file and follow regs for their customers and securities.
maintains an Ubuntu PPA: https://launchpad.net/~showard314/+archive/ubuntu/bitshares [15% delegate] wallet_account_set_approval maqifrnswa true [50% delegate] wallet_account_set_approval delegate1.maqifrnswa true

 

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