Author [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] Topic: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market  (Read 3131 times)

0 Members and 1 Guest are viewing this topic.

Offline CLains

  • Hero Member
  • *****
  • Posts: 2606
    • View Profile
  • BTS: clains

The Salt Lake City-based company recently hired two of the developers behind CounterParty ... Code-named “Medici,” the project aims to democratize Wall Street in much the same way bitcoin seeks to democratize currency and payments. By operating separate from traditional stock exchanges and the big corporate banks, it could eliminate certain loopholes in the system and reduce the costs associated with issuing and juggling stock ...We think we have the first string in all positions,” Byrne says, referring to Perkins Coie and CounterParty ...The ultimate aim of the project is to create a stock system that operates, in large part, outside the control of the big incumbent banks ... Byrne is committing between five and ten percent of Overstock’s cash flow—”single-digit millions”—to the company’s cryptosecurity project. “Building this—and being the company that owns this—can be more valuable than Overstock,” he says. “It can be more valuable than Alibaba.”

http://www.wired.com/2014/10/overstock-com-assembles-coders-build-bitcoin-like-stock-market


Offline Xeldal

Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
« Reply #2 on: October 06, 2014, 10:44:17 PM »
He must have missed the memo I sent him.

Offline carpet ride

  • Hero Member
  • *****
  • Posts: 544
    • View Profile
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
« Reply #3 on: October 06, 2014, 10:50:34 PM »
We should rally to fight this, let others know who was first
All opinions are my own. Anything said on this forum does not constitute an intent to create a legal obligation between myself and anyone else.
Check out my blog: http://CertainAssets.com
Buy the ticket, take the ride.

Offline Final_Acclaim

  • Newbie
  • *
  • Posts: 15
    • View Profile
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
« Reply #4 on: October 06, 2014, 10:52:46 PM »
Direct competition with deep pockets, looks like we just need to double out efforts. We just might need to find someone that wants to beat Overstock to market that supports BitShares.

Offline Method-X

  • Hero Member
  • *****
  • Posts: 1120
  • VIRAL
    • View Profile
    • Learn to code
  • BTS: methodx
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
« Reply #5 on: October 06, 2014, 11:02:38 PM »
This isn't competition if they don't plan on issuing market pegged assets.

Offline Xeldal

Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
« Reply #6 on: October 06, 2014, 11:13:06 PM »
This isn't competition if they don't plan on issuing market pegged assets.

That's true.  BitShares X is much bigger than just a decentralized stock market.  It replaces forex, futures, equities and a hand full of other things.
Not to mention, its already here, and working.

Offline BldSwtTrs

  • Sr. Member
  • ****
  • Posts: 220
    • View Profile
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
« Reply #7 on: October 06, 2014, 11:16:46 PM »
Guys... Counterparty protocol is working since last January.

Offline donkeypong

  • Hero Member
  • *****
  • Posts: 2331
    • View Profile
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
« Reply #8 on: October 06, 2014, 11:17:17 PM »
It's different. Both COULD cover the same ground but are aiming in different directions now. BTSX is like a bank + commodities + forex exchange, whereas Byrne's product would be like a stock exchange. It would be like the non-existent BitShares Me for companies, not like BitShares X.

Offline BldSwtTrs

  • Sr. Member
  • ****
  • Posts: 220
    • View Profile
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
« Reply #9 on: October 06, 2014, 11:21:36 PM »
It's great news for the overall crypto economy. I personnal enjoy this news very much.

And don't be too sad, there is more than one stock exchange in the traditionnal financial world :)

Offline santaclause102

  • Hero Member
  • *****
  • Posts: 2487
    • View Profile
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
« Reply #10 on: October 06, 2014, 11:25:39 PM »
This isn't competition if they don't plan on issuing market pegged assets.
Must not be competition. They have hired a top notch law firm and will do much of the law / regulatory, lobbying, and PR and media work.

Do you think there will only be one such crypto exchange? Probably not!

Counterparty is not based on sustainable technology if they don't change something fundamentally but what they are very good at is forming partnerships, PR, having a sense for what the public / people needs. Learn from it!

BTSX was to young. But the time will come!
« Last Edit: October 06, 2014, 11:43:12 PM by delulo »

Offline jsidhu

  • Hero Member
  • *****
  • Posts: 1337
    • View Profile
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
« Reply #11 on: October 06, 2014, 11:31:06 PM »
I think overstock is a first, but their competition may use bitshares or something else to compete against a potential decntralized market arms race
Hired by blockchain | Developer
delegate: dev.sidhujag

Offline Riverhead

Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
« Reply #12 on: October 06, 2014, 11:46:52 PM »
Let them slug through the regulatory quagmire while we work on bitUSD.

Offline fuzzy

Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
« Reply #13 on: October 06, 2014, 11:51:47 PM »
Quote from: delulo
Counterparty is not based on sustainable technology if they don't change something fundamentally but what they are very good at is forming partnerships, PR, having a sense for what the public / people needs. Learn from it!

The only reason bitshares is not as well known has little to do with a lack of marketing and pr imho.

The problem is that the entire pow community either bashes and sells fud about the technology constantly or outright ignores it like its ron paul at a republican convention.  Obviously the best candidate, but too disruptive to even those interested in disruption.

Imho...bitshares is not compatible with overstock regardless. Why? Because overstock is not going to give anything to pts/ags.   

However for anyome thinkin this isnt competiton...do you really think overstock is foing to accept bitUSD now?
BROWNIE==DKP; BitShares is our Community! 
ShareBits Welcome to  the Sharing Economy w/ BeyondBitcoin.org Partners--ShareBits.io & OpenLedger.info
TIP FORMAT: #sharebits "ForumHandleInQuotes" Quanity Token_Name

Offline Final_Acclaim

  • Newbie
  • *
  • Posts: 15
    • View Profile
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
« Reply #14 on: October 06, 2014, 11:54:29 PM »
Quote from: delulo
Counterparty is not based on sustainable technology if they don't change something fundamentally but what they are very good at is forming partnerships, PR, having a sense for what the public / people needs. Learn from it!

The only reason bitshares is not as well known has little to do with a lack of marketing and pr imho.

The problem is that the entire pow community either bashes and sells fud about the technology constantly or outright ignores it like its ron paul at a republican convention.  Obviously the best candidate, but too disruptive to even those interested in disruption.

Imho...bitshares is not compatible with overstock regardless. Why? Because overstock is not going to give anything to pts/ags.   

However for anyome thinkin this isnt competiton...do you really think overstock is foing to accept bitUSD now?

If BitUSD gets on a decent payment processor, yes, I still see it as a possibility.

 

Google+