Overstock Begins Trading Its Shares Via the Bitcoin Blockchain (wired)
A New Exchange Byrne first revealed Overstock’s new blockchain stock offering in October at a fintech conference in Las Vegas, and over the past month, any existing Overstock shareholder could subscribe to take part. Today, the company actually moved the stock into investor accounts, including 126,565 shares traveling via tØ’s blockchain technology. Investors can begin trading the shares via the blockchain tomorrow. The Securities and Exchange Commission officially green-lit the operation last December, and Byrne says his company spent $5 to $6 million in legal fees securing regulatory approval from both the SEC and FINRA, the financial industry’s private overseer. tØ runs its own private blockchain, which would seem to defeat the purpose of the technology. The power of the blockchain lies in its distributed nature—as a technology that no one entity controls. But tØ publishes all transactions to the blockchain proper—the ledger that underpins bitcoin—which provides a very public record of anything that happens on its private system. Part of Byrne’s aim is to offer a transparency that today’s markets don’t provide.
Overstock and Blockchain. Byrne’s decision to focus on blockchain comes amid a time of a bleeding cryptocurrency market. Bitcoin is down about 30 percent in the last 10 days, dragging down the majority of digital currencies with it. One of Overstock’s best-known startups is the trading system tZero, which has also had rough times. Speaking ... Buying Bitcoin shares is an investment both in the short and long term. Investing in the short term is possible through a CFD account, which allows you to buy now and sell even in just a few minutes. In the medium/long term, on the other hand, it is necessary to contact an authorised intermediary who operates on the stock exchange and, in this case, buy today to sell in a few years’ time ... Overstock.com shares surged to four-year highs as i nvestors bet on the company's investment in blockchain, the technology behind bitcoin.; Attention on the viability of blockchain has grown as ... A-1 shares can be traded on Pro Securities ATS. The Overstock’s digital dividend will be payable at a ratio of 1:10, which means that one share of Series A-1 will be issued for every ten shares of common stock, according to a press release shared with Cointelegraph on July 30. Shares of Overstock have been riding the bitcoin wave for the past year. The stock has soared more than 130% over the past 12 months, but it has plunged nearly 30% in 2018.
Thanks to trusting Bitcoin, Overstock's stock has increased 300+% and now they're also going to be making quite a bit of money from their ICO. Plenty of awesome ways of making good incomes in the ... Overstock.com CEO Patrick Byrne discusses his outlook for bitcoin and holiday shopping. Overstock.com CEO Patrick Byrne talks with CNN's Zain Asher about the potential strengths of bitcoin during a dollar crisis. Get $10 worth of Bitcoin for when you set up your coinbase wallet ... and Blockchain for the Stock Market - Duration: 18:11. ReasonTV ... Overstock CEO: bitcoin a 'form of sound money ' - Duration ... Overstock.com CEO Patrick Byrne on the online retailer's blockchain business.