Author Topic: My pitch to the Overstock CEO  (Read 5867 times)

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Offline kenCode

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I'm not going to contact Overstock right now. Especially after reading some of your posts here about Byrne.
 
Now, jesusagechrist, Erlich Bachman. Your entire post (reply #29) is a beautifully written article in itself. Just precede it with some lead-in and we could publish that sucker as a follow up to justinthedouchebag's slander-piece drivel crap and let it ride.
 
Well said Erlich +5% +5% +5%
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Offline Permie

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We are not looking for a quick ticket to retirement.
We have a mission.
BitShares is central to that mission.

I love bitshares  +5%

I love bitshares and you all  :)
The principles behind the talent is why I'm here

For the record I found the articles on BM's blog to be the most compelling reason to be interested in BitShares.
They detailed BM's stance on economics, the free market and profit as the most important tools in a path to freedom.
In this early stage in the crypto-industry investment in people and principles is a far safer bet than just in technology.
Roadblocks and bottlenecks are still being discovered and it's talented people that will navigate successfully.

I particularly enjoyed the "sufficient decentralization" article and others like it that lay out the limitations of what is possible, and then outline the appropriate solution to it. BitShares is the only community that I know of that has (potentially) solved so many issues currently holding crypto back from the mainstream.
I had the 'minimal requirements for decentralization" article bookmarked and went to link it here, but it just redirects to bitshares.org mainpage now.

I think it is important that they are easily accessible to newcomers

I got your pitch right here:

BitShares - the choice is yours  +100,000 TPS or -$100,000


BM just built a protocol that's adequate for mass global public consumption.  What makes you think that he is going to get all star struck when Jeff Bezos comes knocking?  Cryptonomex is firmly in the negotiating drivers seat.  The only competitors to the BitShares Smartchain (where you will integrate your business) are centrally controlled blockchains that, as Mr Byrne is fast finding out, are not cheap to develop, secure, or maintain.

The price of integrating into the BitShares Smartchain went up the moment the 100,000 TPS secret sauce was discovered.
I understand that the value of bts has increased since DPOS 2 has been announced, but why has the price of integrating gone up?
I'm all for charging as much as the market will bear, but I thought the idea of BTS was to be the platform infrastructure, as you mentioned, and for it to be open for everyone to start running businesses and personal services on it.
1,000 underdog small companies running on bts is more valuable (in more ways than profit) than 1 corporation that pays a hefty fee to integrate, IMO.

I may be misunderstanding what overstock are trying to do, but how would them choosing to use BitShares instead be in any way negative for us?
Yeah CMX might have to do a bit of consulting, but DPOS 2 is supposed to be ready-to-go and permission-less. Why would Byrne ever have the opportunity of stealing BM?
If they want control, bts gives it to them.
Are they trying to build a centralized Overstock-TM exchange? What is the value in that?

If DPOS 2 will be released how I think it will - why does the community need to sacrifice anything more than time to educate Byrne and let him know he can save money and get the job done and mainstream-ready?
BitShares is designed to be able operate exactly as a stock-exchange - what does Overstock need that bts can't give them?
Why would BM need to design anything extra for them at all?
JonnyBitcoin votes for liquidity and simplicity. Make him your proxy?
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Offline karnal

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We are not looking for a quick ticket to retirement.
We have a mission.
BitShares is central to that mission.

I love bitshares  +5%

I love bitshares and you all  :)

Offline Erlich Bachman

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We are not looking for a quick ticket to retirement.

Who says it's not going to be quick?

Overstock could have chose to put their service on the BitShares smartchain, and maybe it wouldn't have lost so much money building and maintaining redundant blockchain infrastructure.  BitShares gives them full control over whatever system they want to implement and as much bandwidth as they could ever dream of, but it's all irrelevant now. OSTK is the hot chick that wouldn't talk to you in high school, but now realizes........

The BitShares smartchain is just the high speed internet connection.  If NASDAQ, and Overstock want to relinquish their "first mover advantage" in this space, then that's fine with us, because as soon as one of their competitors chooses to leapfrog them by jumping onto our 100,000 TPS public blockchain, then Mr Byrne will realize that he just built his system on a dial-up 56k internet connection that he has to continue servicing at -$100,000

The BitShares blockchain (BTS) is the infrastructure.  The market has not realized yet that all they need to do is to provide their service over the most robust infrastructure, and by the looks of the competition, it appears that nothing comes close to the performance of our smartchain.

But it is kind of funny watching people who steal IP try to reinvent the wheel.

I got your pitch right here:

BitShares - the choice is yours  +100,000 TPS or -$100,000

If my analysis was a little too frank, and you still think that Mr Byrne is the one for you, then I'll delete this post.  I just get a little upset when my chief talent, BM, gets publicly BR'd:

https://www.youtube.com/watch?v=JlwwVuSUUfc#t=37s

BM just built a protocol that's adequate for mass global public consumption.  What makes you think that he is going to get all star struck when Jeff Bezos comes knocking?  Cryptonomex is firmly in the negotiating drivers seat.  The only competitors to the BitShares Smartchain (where you will integrate your business) are centrally controlled blockchains that, as Mr Byrne is fast finding out, are not cheap to develop, secure, or maintain.

The price of integrating into the BitShares Smartchain went up the moment the 100,000 TPS secret sauce was discovered.

Name one company that you would trust with your money, and only there you will find our competition (if they forked our smartchain).

The reason you trust the BitShares Smartchain over all other chains in the world is because you don't have to trust that somebody else will vote in your best interest.  Because you get to vote yourself.

If it's just good old publicity you want, just sit back, relax, and wait for all the public BitShares Smartchain clones to begin popping up claiming:  Fork of BitShares, Fork of BitShares, Fork of BitShares.  Bitcoin truly cemented its dominance following the rise and fall of its clones.  What's taking this process so long to play out is the fact that much of the crypto community is miners, and the rest barely even comprehend mining.

Bitcoin 1.0 is static blockchain technology founded on a proof of work where the work is pure mathematical computation.  Bitcoin 2.0 is dynamic smartchain technology based on a proof of work where the work is useful coding and marketing.  Bitcoin 1.0 is the "primitive", and BitShares 2.0 is the "technical."  The simple reason for this distinction is because Bitcoin1.0 (like fiat currency) is controlled by something other than the shareholders. 

Technical Currency is Bitcoin2.0 because you get to trust your own technical abilities when voting on the survival of your wealth.
Primitive Currency is everything else besides hard assets where you put your trust in somebody else entirely (in god or Gavin we trust).  So unless the bitcoin community gives control over the code to its holders, there are no other 2.0 currencies.

The break from non-shareholder controlled money (or code / protocol) was first performed successfully by BitShares through Smartchain Technology; and just as bitcoin was copied to puking, community controlled currencies like BitShares will be forked to death too.  Not because BitShares is that awesome, but simply because BitShares was the first.  One thing that will be different, however, is that the BitShares clones will be more successful than the Bitcoin1.0 clones, because centrally coded crypto resembles fiat more than it resembles BitShares.

BitShares - community controlled crypto code
« Last Edit: June 26, 2015, 11:17:54 am by Erlich Bachman »
You own the network, but who pays for development?

Offline cass

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Let's stick to the facts ... currently all this is of course speculation ... we should do step by step IMO ...
First priority - to roll out BitShares 2.0 - not participating on other projects .. my 2 bts
█║▌║║█  - - -  The quieter you become, the more you are able to hear  - - -  █║▌║║█

Offline gamey

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Medici has been ramping up a team so I'm fairly certain any talk about getting them to use Bitshares wouldn't go too far. I suppose it is possible Patrick buys cryptomex tech but Bitshares? No.
I speak for myself and only myself.

Offline cass

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@luckybit
If Overstock wants to own the blockchain, then it is not in competition with BitShares (a decentralized blockchain). Cryptonomex can provide them with the technology and expertise to help them do that. If Overstock is not satisfied with that and wants to own the team and IP as well... well I have to hope that it will be out of their budget. I'm assuming and hoping that the Cryptonomex team is motivated to make a decentralized blockchain (i.e. BitShares) a success rather than only being able to spend their talents on yet another centralized solution (plus the potential for financial reward could be much greater assuming they are sufficiently invested in BTS). Thus, it would take a very high price to sell out; far more expensive than Overstock would be willing to pay for this side project that they are interested in that has nothing to do with their core business.

 this +5% .... i can speak just for myself, but ...  BTS = TOP priority = addicted .. that's it .. it's simple ... that's what drives me every day!
I'm not interested in assisting on creating a Centralized 2.0 ...

█║▌║║█  - - -  The quieter you become, the more you are able to hear  - - -  █║▌║║█

Offline mike623317

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We are not looking for a quick ticket to retirement.
We have a mission.
BitShares is central to that mission.

I love bitshares  +5%

Offline Riverhead

I doubt very much that Dan & Co would want to be used and then discarded by Overstock in the way the counterparty devs were.

Inconceivable.  (And yes, that word means what I think it means.)


We are not looking for a quick ticket to retirement.
We have a mission.
BitShares is central to that mission.
+1 for the Princess Bride reference ::)

Offline Stan

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I doubt very much that Dan & Co would want to be used and then discarded by Overstock in the way the counterparty devs were.

Inconceivable.  (And yes, that word means what I think it means.)


We are not looking for a quick ticket to retirement.
We have a mission.
BitShares is central to that mission.
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline Ander

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For those who are newer, back last sept/oct there was a lot of BTS buying based on a rumor that overstock was going to choose Bitshares, and it would be announced at the bitcoin vegas conference in october that both Dan Larimer and Patrick Byrne were keynote speakers at. 

The day that that was revealed to not be true was the last day BTS was over 9000 sat, it was all down from there, until the bottom.
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Offline rgcrypto

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Hey Guys...he is currently building MEDICI, a cryptostock exchange built on counterparty.  We need to get him on board.

Offline sschechter

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@luckybit
If Overstock wants to own the blockchain, then it is not in competition with BitShares (a decentralized blockchain). Cryptonomex can provide them with the technology and expertise to help them do that. If Overstock is not satisfied with that and wants to own the team and IP as well... well I have to hope that it will be out of their budget. I'm assuming and hoping that the Cryptonomex team is motivated to make a decentralized blockchain (i.e. BitShares) a success rather than only being able to spend their talents on yet another centralized solution (plus the potential for financial reward could be much greater assuming they are sufficiently invested in BTS). Thus, it would take a very high price to sell out; far more expensive than Overstock would be willing to pay for this side project that they are interested in that has nothing to do with their core business.
Ask how those hopes went for the Counterparty community whose developers were poached instead last year, got what they wanted from them and spit them back out.

"a classic brain rape"
http://recode.net/2015/04/21/three-silicon-valley-moments-ripped-from-the-headlines/

A better link:
http://www.quora.com/Silicon-Valley-Season-2-Episode-2-Runaway-Devaluation/Do-large-companies-and-VC-firms-really-brain-rape-early-stage-startups
« Last Edit: June 26, 2015, 12:38:05 am by sschechter »
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Offline Ander

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I doubt very much that Dan & Co would want to be used and then discarded by Overstock in the way the counterparty devs were.
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Offline fuzzy

@luckybit
If Overstock wants to own the blockchain, then it is not in competition with BitShares (a decentralized blockchain). Cryptonomex can provide them with the technology and expertise to help them do that. If Overstock is not satisfied with that and wants to own the team and IP as well... well I have to hope that it will be out of their budget. I'm assuming and hoping that the Cryptonomex team is motivated to make a decentralized blockchain (i.e. BitShares) a success rather than only being able to spend their talents on yet another centralized solution (plus the potential for financial reward could be much greater assuming they are sufficiently invested in BTS). Thus, it would take a very high price to sell out; far more expensive than Overstock would be willing to pay for this side project that they are interested in that has nothing to do with their core business.
Ask how those hopes went for the Counterparty community whose developers were poached instead last year, got what they wanted from them and spit them back out.

Legitimate concerns in my eyes.
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