Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market

kingcolex

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Quote from: evok3d on October 07, 2014, 05:00:22 AM

Quote from: Xiaoxiao on October 07, 2014, 04:41:14 AM

How big is overstock anyway compared to say Amazon or other retailers.

Amazon has a much larger overall turnover. I believe Amazon in 2013 had a turnover of $74+ Billion in comparison to that of overstock.com which had a turn over of around $1.3 Billion.

Sorce
http://www.digitalbookworld.com/2014/amazon-booms-in-2013-with-74-45-billion-in-revenue/

Either way though overstock has a much greater interest for the overall progress and health of bitcoin as they:

- Keep 10% of bitcoin sales as bitcoin to preserve it from being dumped.
- Donate 4% to the future development of bitcoin technology and platforms.
- $1.3 M already sold through bitcoin sales.

Source:
http://www.coinssource.com/overstock-ceos-passion-for-bitcoin/

Cheers

Well that and Overstock has actually been able to turn a profit unlike Amazon.

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Of course, Bitcointalk still treats counterparty/mastercoin (they are the same thing in origin) as a type of scam altcoin..... Now that a real company is taking this type of Bitcoin 2.0 or alt-Coin seriously and building a serious financial product with it, can we talk about it more openly now?

Elwar

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Viva Ut Vivas

Quote from: BitCoinDream on October 07, 2014, 05:19:35 AM

Quote from: hua_hui on October 07, 2014, 12:07:16 AM

It is a big market and competition will arise. There are many cryptocurrency Stock Markets building up now and later. The customers will choose the best one.

The problem that remains with cryptocurrency Stock Markets is not the technology, but the trust. If some company frauds at NYSE, u can have a process of litigation, which is not possible for cryptocurrency Stock Markets. Anyone will come, pay the authority, get listed, raise money and vanish into oblivion. Due to global nature of cryptocurrency, U cant track them back.

The article says that Overstock will be working with the SEC...so it is very likely that the process will still be similar, just with improved technology.

BitCoinDream

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The revolution will be digital

Quote from: hua_hui on October 07, 2014, 12:07:16 AM

It is a big market and competition will arise. There are many cryptocurrency Stock Markets building up now and later. The customers will choose the best one.

The problem that remains with cryptocurrency Stock Markets is not the technology, but the trust. If some company frauds at NYSE, u can have a process of litigation, which is not possible for cryptocurrency Stock Markets. Anyone will come, pay the authority, get listed, raise money and vanish into oblivion. Due to global nature of cryptocurrency, U cant track them back.

evok3d

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The Protocol for the Audience Economy

Quote from: Xiaoxiao on October 07, 2014, 04:41:14 AM

How big is overstock anyway compared to say Amazon or other retailers.

Amazon has a much larger overall turnover. I believe Amazon in 2013 had a turnover of $74+ Billion in comparison to that of overstock.com which had a turn over of around $1.3 Billion.

Sorce
http://www.digitalbookworld.com/2014/amazon-booms-in-2013-with-74-45-billion-in-revenue/

Either way though overstock has a much greater interest for the overall progress and health of bitcoin as they:

- Keep 10% of bitcoin sales as bitcoin to preserve it from being dumped.
- Donate 4% to the future development of bitcoin technology and platforms.
- $1.3 M already sold through bitcoin sales.

Source:
http://www.coinssource.com/overstock-ceos-passion-for-bitcoin/

Cheers

Xiaoxiao

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The Golden Rule Rules

How big is overstock anyway compared to say Amazon or other retailers.

hua_hui

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It is a big market and competition will arise. There are many cryptocurrency Stock Markets building up now and later. The customers will choose the best one.

MichaelBliss

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