Author Topic: Patrick Byrne - Bitcoin Conference Announcements  (Read 10760 times)

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Offline Gentso1

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Well I heard Alibaba has plans to launch an equity with BitSharesX.  ;)

seriously?

Of course its a joke but seriously it would make much more sense. With the strong support of the Chinese community and the fact that they seem much more willing to adopt new technology.
bitUSD and bitCNY would be great as a payment option for their goods. 

Offline johncitizen

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Check this out! Top secret and stealth is enough to excite anyone. I'll interpret that as a + for crypto.


http://bitcoin.jobboard.io/jobs/16960-senior-backend-developer-at-overstock



Offline liondani

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...ofcourse we can deal in bitsecurities it just requires a bit of changes here and there.  The code is good enough, we may need to do a few hard forks a long the way.


Offline cass

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

Offline Thom

Overall it makes sense to centralize certain parts because it has to be centralized to be regulated.

Isn't one of the MAIN points NOT to be regulated but let the market set the rules?
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Offline fuzzy

I think he is joking.  Sadly... :P

WhaleShares==DKP; BitShares is our Community! 
ShareBits and WhaleShares = Love :D

Offline cass

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Well I heard Alibaba has plans to launch an equity with BitSharesX.  ;)

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

Offline yellowecho

Well I heard Alibaba has plans to launch an equity with BitSharesX.  ;)
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Offline eagleeye

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I suspect that Overstock is going to fork the code and announce their own platform. This would explain why they are querying the community about how to build one. There is a clue I found where they were seeking to hire an expert programmer with a resume a lot like Dan.

This isn't to say that Dan is involved but that Overstock is seeking someone with a skillset which is remarkable in similarity. It leads me to believe they are going to build their own platform and why not? They have the money to do it.

You and (if toast is serious too)  think that own blockchain belonging to a huge company is good idea and the best solution. And while I understand how this will be better then the current state of affairs in a lot of ways; I fail too see how in the long run it will be better for them to use their own centralized solution instead of a public/decentralized one, when such decentralized platforms are readily available.

It's cheaper and better for their shareholders. It's not a matter of long term necessarily in the business world.

I don't know how Overstock is run but most corporations just want to profit.

It is cheaper and better but stock holders usually have investments in tens and even hundreds of different entities - each of them having its own system is not most convenient and  most likely not the cheapest solution for the investor. When exchanges  do become available offering the same benefits as those in-house solutions as the Overstock/IBM ones, it will be hard justifying using only their in house exchange.


Overstock has an opportunity to replace NASDAQ and Dow, and they can do it in a way which is compatible with Bitshares. Bitshares can't do everything right now.

If thats true then we have to start releasing more bitAssets to make it harder for them to get the commodity assets down (such as gold, silver, corn, etc) so they have to leap rather than step towards them "..[replacing] NASDAQ and Dow."

If we have the easy pickins forex bitAssets and commodity bitAssets they will really have to jump to get into a NASDAQ and Dow scenerio.  Whereas we will be the first mover....atleast in some assets.

***Addition Important***

How much time do we think we have till they have a working prototype/platform to start there NASDAQ/Dow conquest?

They aren't interested in commodities. They are interested in cryptosecurities. There is a big difference between the two.

Bitshares X does not deal with securities and by design cannot. It could be a symbiotic mutually beneficial relationship between Overstock and the 2.0 community.

The 2.0 community generally understands the big picture. Overstock has centralized trust and credibility which we can't have by being decentralized. We've been looking for a Gateway service to turn IOUs into commodities? Overstock could act as that Gateway while also producing a legitimate regulated stock exchange.

Overall it makes sense to centralize certain parts because it has to be centralized to be regulated. I don't think they should be seen as a threat any more than IBM is.

ofcourse we can deal in bitsecurities it just requires a bit of changes here and there.  The code is good enough, we may need to do a few hard forks a long the way.

Its just time if there is a market when this comes up...as in if someone else has not taken it over.

Offline luckybit

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I suspect that Overstock is going to fork the code and announce their own platform. This would explain why they are querying the community about how to build one. There is a clue I found where they were seeking to hire an expert programmer with a resume a lot like Dan.

This isn't to say that Dan is involved but that Overstock is seeking someone with a skillset which is remarkable in similarity. It leads me to believe they are going to build their own platform and why not? They have the money to do it.

You and (if toast is serious too)  think that own blockchain belonging to a huge company is good idea and the best solution. And while I understand how this will be better then the current state of affairs in a lot of ways; I fail too see how in the long run it will be better for them to use their own centralized solution instead of a public/decentralized one, when such decentralized platforms are readily available.

It's cheaper and better for their shareholders. It's not a matter of long term necessarily in the business world.

I don't know how Overstock is run but most corporations just want to profit.

It is cheaper and better but stock holders usually have investments in tens and even hundreds of different entities - each of them having its own system is not most convenient and  most likely not the cheapest solution for the investor. When exchanges  do become available offering the same benefits as those in-house solutions as the Overstock/IBM ones, it will be hard justifying using only their in house exchange.


Overstock has an opportunity to replace NASDAQ and Dow, and they can do it in a way which is compatible with Bitshares. Bitshares can't do everything right now.

If thats true then we have to start releasing more bitAssets to make it harder for them to get the commodity assets down (such as gold, silver, corn, etc) so they have to leap rather than step towards them "..[replacing] NASDAQ and Dow."

If we have the easy pickins forex bitAssets and commodity bitAssets they will really have to jump to get into a NASDAQ and Dow scenerio.  Whereas we will be the first mover....atleast in some assets.

***Addition Important***

How much time do we think we have till they have a working prototype/platform to start there NASDAQ/Dow conquest?

They aren't interested in commodities. They are interested in cryptosecurities. There is a big difference between the two.

Bitshares X does not deal with securities and by design cannot. It could be a symbiotic mutually beneficial relationship between Overstock and the 2.0 community.

The 2.0 community generally understands the big picture. Overstock has centralized trust and credibility which we can't have by being decentralized. We've been looking for a Gateway service to turn IOUs into commodities? Overstock could act as that Gateway while also producing a legitimate regulated stock exchange.

Overall it makes sense to centralize certain parts because it has to be centralized to be regulated. I don't think they should be seen as a threat any more than IBM is.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline eagleeye

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I suspect that Overstock is going to fork the code and announce their own platform. This would explain why they are querying the community about how to build one. There is a clue I found where they were seeking to hire an expert programmer with a resume a lot like Dan.

This isn't to say that Dan is involved but that Overstock is seeking someone with a skillset which is remarkable in similarity. It leads me to believe they are going to build their own platform and why not? They have the money to do it.

You and (if toast is serious too)  think that own blockchain belonging to a huge company is good idea and the best solution. And while I understand how this will be better then the current state of affairs in a lot of ways; I fail too see how in the long run it will be better for them to use their own centralized solution instead of a public/decentralized one, when such decentralized platforms are readily available.

It's cheaper and better for their shareholders. It's not a matter of long term necessarily in the business world.

I don't know how Overstock is run but most corporations just want to profit.

It is cheaper and better but stock holders usually have investments in tens and even hundreds of different entities - each of them having its own system is not most convenient and  most likely not the cheapest solution for the investor. When exchanges  do become available offering the same benefits as those in-house solutions as the Overstock/IBM ones, it will be hard justifying using only their in house exchange.


Overstock has an opportunity to replace NASDAQ and Dow, and they can do it in a way which is compatible with Bitshares. Bitshares can't do everything right now.

If thats true then we have to start releasing more bitAssets to make it harder for them to get the commodity assets down (such as gold, silver, corn, etc) so they have to leap rather than step towards them "..[replacing] NASDAQ and Dow."

If we have the easy pickins forex bitAssets and commodity bitAssets they will really have to jump to get into a NASDAQ and Dow scenerio.  Whereas we will be the first mover....atleast in some assets.

***Addition Important***

How much time do we think we have till they have a working prototype/platform to start there NASDAQ/Dow conquest?

Offline luckybit

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I suspect that Overstock is going to fork the code and announce their own platform. This would explain why they are querying the community about how to build one. There is a clue I found where they were seeking to hire an expert programmer with a resume a lot like Dan.

This isn't to say that Dan is involved but that Overstock is seeking someone with a skillset which is remarkable in similarity. It leads me to believe they are going to build their own platform and why not? They have the money to do it.

You and (if toast is serious too)  think that own blockchain belonging to a huge company is good idea and the best solution. And while I understand how this will be better then the current state of affairs in a lot of ways; I fail too see how in the long run it will be better for them to use their own centralized solution instead of a public/decentralized one, when such decentralized platforms are readily available.

It's cheaper and better for their shareholders. It's not a matter of long term necessarily in the business world.

I don't know how Overstock is run but most corporations just want to profit.

It is cheaper and better but stock holders usually have investments in tens and even hundreds of different entities - each of them having its own system is not most convenient and  most likely not the cheapest solution for the investor. When exchanges  do become available offering the same benefits as those in-house solutions as the Overstock/IBM ones, it will be hard justifying using only their in house exchange.


Overstock has an opportunity to replace NASDAQ and Dow, and they can do it in a way which is compatible with Bitshares. Bitshares can't do everything right now.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline GaltReport


I suspect that Overstock is going to fork the code and announce their own platform. This would explain why they are querying the community about how to build one. There is a clue I found where they were seeking to hire an expert programmer with a resume a lot like Dan.

This isn't to say that Dan is involved but that Overstock is seeking someone with a skillset which is remarkable in similarity. It leads me to believe they are going to build their own platform and why not? They have the money to do it.

You and (if toast is serious too)  think that own blockchain belonging to a huge company is good idea and the best solution. And while I understand how this will be better then the current state of affairs in a lot of ways; I fail too see how in the long run it will be better for them to use their own centralized solution instead of a public/decentralized one, when such decentralized platforms are readily available.

It's cheaper and better for their shareholders. It's not a matter of long term necessarily in the business world.

I don't know how Overstock is run but most corporations just want to profit.

It is cheaper and better but stock holders usually have investments in tens and even hundreds of different entities - each of them having its own system is not most convenient and  most likely not the cheapest solution for the investor. When exchanges  do become available offering the same benefits as those in-house solutions as the Overstock/IBM ones, it will be hard justifying using only their in house exchange.

 +5%

Offline eagleeye

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Overstock may be a first mover in terms of major company offering cryptocurrency(s).

However the company is not growing that much, jigged its revenue somehow (not looking too indepthly) December 2013 earnings $400 million revenue $75 million profit when normally it makes $330 revenue per quarter with $1 - $3 million profit.  (Normal margins in retail even online retail, look at Amazon 0.50% margin.)

Dont take in consideration to much about Overstock only a small amount of their users use bitcoin as their payment option.  (Remember most people got into bitcoin on speculation, its only now that they are probably starting to spend small amounts).

They do have zero long term debt but their cash/accounts payable is how they are running their business whereas their accounts receivable is only 6 - 8% their cash and 10% their accounts payable.

Interesting company....

***Addition***

Notice that if they were getting many users from bitcoin they would have already understand the "slow transacton times" that bitcoin has.  (Unless your using an exchange and boom look at mtgox).

They (Overstock) is playing this cryptocurrency game half ass otherwise the small amount of transactions they got they would have been ahead of us as did not they announce they would use bitcoin last a year and some ago.
« Last Edit: September 23, 2014, 01:23:08 am by eagleeye »

Offline James212

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Peershares has done a good job explaining that it is a foundation for custom blockchain solutions, while bitshares is still synonymous with btsx for most of the world

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IMO we have to get prof. hand outs / Broschures or whatever for

- Investors (What, when, why)
- Companies (Individual Blockchain/public+intern etc.)

Honestly i like the way ripple do this ... they have presentations for all target groups…

 +5% This guy gets it. All target demographics.

 +5%
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