Whatever happened to this?
I'm a bit surprised, too.
This is the relevant comment:
Hey there, do you guys build on Counterparty (meta layer on top of Bitcoin)?
No. We're using the Open Asset protocol. Specifically, Circle Colored Coins.
Edit:
SALT LAKE CITY, June 5, 2015 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (Nasdaq:OSTK) became the first company to solicit qualified institutional buyers in a digital corporate bond which will trade using the same technology that underlies cryptocurrencies such as bitcoin. This pioneering development is part of the company's larger cryptofinance initiative known as Medici.
"The cryptorevolution has arrived on Wall Street," said Overstock.com CEO Patrick M. Byrne. "We're making it official by offering the world's first cryptosecurity."
Byrne went on to explain that a cryptosecurity is one that trades on a cryptographically-protected distributed ledger. In this case, buyers will be able to track their ownership on the bitcoin blockchain.
The issuance is powered by Overstock.com's TØ.com technology – a name that refers to the fact that trades on the system securely settle same day, as opposed to three days later -- or what Wall Street traders refer to as, "T+3". The TØ.com technology uses the Open Assets protocol.
According to Byrne, issuing the TIGRcub bonds on the TØ.com platform proves that cryptotechnology can facilitate transparent and secure access to capital by emerging companies. Byrne added that a circular informing investors of the cryptobond offering was distributed on June 1, 2015.
This offering is being made exclusively to qualified institutional buyers that meet the definition of "accredited investor" in compliance with Rule 506(c) of Regulation D under the Securities Act of 1933, as amended.
http://investors.overstock.com/phoenix.zhtml?c=131091&p=irol-newsArticle&ID=2056957Thanks. Its pretty upsetting how loudly the partner announcements were shouted from the rooftops.. I remember byrne talking about moving cp devs to Utah, allocating multimillion $ budge to build medici on countoerarty foundation, even at baggleys presentation in new York recently nothing seemed to have changed. remember reiterations that yes, cp was still going to play an integral part in Medici after that reddit post were Patrick accidentally " let it slip" , yet neither overstock or cp devs clearly came forward to reveal this project is now seemingly not running on counterparty at all. This is drastically different to how it was pitched to us.
In a traditional market these kind of stock manipulation shenanigans could never fly under the radar. You simply cannot make those kind of absolute statements and simply back turn on them in private to partner with a competing project. This whole overstock ordeal ran roughshot through the price of this coin, its been nothing but vague information, conflicting stories, doublespeak and, empty promises that predictably moved the price for insiders (pump/dump based on fabricated promises) and left public investors taking a wild gamble by reading between the lines simply hoping the earlier statements were true and honest.
Shame on everyone who tried to misrepresent the importance of counterparty to overstock; you've caused many people to lose their funds by believing in your vision and trying to invest in it.
Robert here
