Bitcoin Forum

Overstock became the first company to offer a corporate bond (http://cointelegraph.com/news/114490/overstock-to-offer-25m-corporate-bond-as-the-worlds-first-crypto-security?utm_source=google&utm_medium=cpc&utm_campaign=bitcointalk&utm_term=evg), valued at US$25 million,
as crypto securities to qualified institutional investors. The offering is part of the company’s
bitcoin blockchain-based initiative called Medici.

Cool innovation, although Overstock's CEO is mis-characterizing the news. It's not on Wall St. These bonds don't trade on the NYSE or on Wall St. Overstock has created it's own exchange, essentially, called Medici. They're using the blockchain technology to clear trades on the same day, rather than the 3 days it takes going through traditional stock markets and securities exchanges.

So, the CEO is looking for some hype by saying falsely "it's coming to Wall Street", but that hype isn't needed. This is a pretty cool idea and could change things. The article also said that the NYSE was (separately) exploring the technology to measure efficiency of their system (which, in my opinion would hopefully evolve to same day trade clearing.)

I think that a lot of Wall Street is going to become a fan of same day clearing. However, I don't see the NYSE deploying bitcoin as the means of that. They'll likely create their own colored coin.

Interesting.  Even if they are not technically on wallstreet this is a good development for bitcoin.  Any time it gets in the news is good, and overstock isn't exactly small potatoes.

overstock has shown time on time to be far ahead of other companies regarding accepting new technology. very open minded ceo.

More and more this seems to be the next phase of bitcoin.  Using the blockchain via colored coins to transfer stocks, bonds, etc... 

It will be interesting to see if this new exchange manages to attract some Wall Street whales.
Personally I think they're cozy as they are and won't do anything until Bitcoin comes to them officially (not through a newly opened exchange).

well bitcoin will achieve the wall street officially on the next years when they find that btc will stand for years and all comunity will keep growing year by year soo bitcoin can reach it i dont get why didnt had reached yet...

Because bitcoin is new invention and the adoptiong rate is still far low to get wall street guys involved in early!

they should start now to get involved, and not waiting for someone else to raise the price, they are the one that could rise this baby to the sky, then the others will just follow

Cool, now wallstreet can steal all bitcoins, very nice.

They will just do like that with gold, they will sell ponzi certificates and push the bitcoin price down to 1$.

NYSE, previously announced the NYSE Bitcoin Index (NYXBT), the first exchange-calculated and disseminated bitcoin index. The NYXBT Index will represent the U.S. dollar value of one bitcoin unit based upon actual transactions occurring on select bitcoin exchanges which have been evaluated and meet NYSE’s quality standards. Hopefully it is a really good news for BTC.

I think you're right. The whales are waiting for Bitcoin to come to them and interact with them on their own terms, like they're used to the world doing with most things. They're already sitting pretty, why would they need to latch onto the next big thing? They're fine. The status quo has worked out great for them. In the end, maybe they will invest in the Winklevoss ETF or something that seems kind of official and friendly to financial types.

Sociologically, I think it has to do with the circulation of elites over time and the way incumbents rarely see what's going to unseat them or see what the next wave of innovation is. They get comfortable and only deal with what they know about. Since that's why most companies and stocks don't stick around all that long, maybe there will be Bitcoin billionaires who replace the current ones in 10 or 20 years and those who are doing really well now will see their fortunes dry up.

I thought its been official since we had our own exchange near the NYE exchange no?

Plus the official bitlicense was given a couple months back.

well if wales buy a part of btc it would be good and bad,they would control the bitcoin price... that way investors will try to convert the btc into another crypto currency to run from the btc leaving the wales with them ... decentralized is the best way but would be good to get a bit huge interest in adopting this amazing project named bitcoin.

I do not understand what Overstock is doing. They created their own exchange "medici" based on the blockchain to trade their own bonds?


This is actually allowed by the SEC?

what does overstock have to deal with wall street? lol.

umm, can someone explain that to me, unless its something where employees can trade their overstock shares to bitcoin.

Overstock is the first to use colored coins to sell bonds on the blockchain.  So transfer is instant rather then waiting 3 days. 

I am not really sure if this will bode well for Bitcoin getting into the hands of WALL ST SHARKS, Unless it just brings in more punters and hoarders and helps the market cap increase. For that reason alone it might have some positive offset, but only time will tell how they will play around with this new tech money toy.

i don't think so otherwise the price should've started to climb right? i cannot see any impact on the market and i'm tired of those enws that cannot do nothing to the price, but just increasing the hype


yeah this is true, but it need time i think, two months is a bit too low to start a thing like this, isn't this true?

I wouldn't say that right now, but several Wall Street companies are experimenting with Bitcoin and the technology behind it.

Bitcoin definitely needs to be able to grow much larger for Wall Street to use it.

In a way I would say it's yes. Although Overstock core business is in the retail field but with the new development in offering cryptosecurities, indirectly they are acting as our brand ambassador that carries along the bitcoin name. This is also compounded by the fact that they are also one of the biggest online business to accept bitcoin. investors are putting their money into buying the bonds means they have confidence in the business they are doing. I would look at it that way.

It's definitely great publicity for Bitcoin. What all those companies should do besides accepting BTC payments tho, is offer their employees their wage in BTC instead of dumping their gains for fiat.

well some company needed to take the first step so other may follow it ,soo people will search about bitcoin to know better it for sure.

Yup, this helps in increasing bitcoin adoption. If those employees find enough places to spend bitcoin, we could have some circulation of bitcoins. Else, the employees will dump the bitcoins and it really doesn't help.

Seems like a good starting point ...
#soon Supply and demand will require the market cap to hit many billions of dollars if all of Wall Street wants to play how they're used to playing.

It was a hype, its not coming to wall street officially. They have their own market called medici!

We shall see that, banks are greedy, so greedy that they can change their principles anytime.

If bitcoin becomes too appealing that banksters cant resist, then they will come in our boat aswell.

They just cant resist the urge for money :D

I think they wouldn't tweak their rules and regulations, rather make the crypto currency system have differences made for their adaptation. They would offer lucrative deals for the commencement of the deal, but if we give up the fight and let them centralize bitcoins, then what is the fucking point? If however they are ready to accept bitcoin as it is, then that's when shit might be worth hearing..

So the overstock's CEO has modified the news to create a little more hype than usual. Bitcoin hasn't arrived into Wall St yet. And right now , the Wall Street doesn't offer the right kind of structure to hold bitcoins into it. But yes overstock  is coming into the sight , with the technology somehow related to bitcoins. But i believe they're likely to mint their own currency for it.

I dont think that WALL ST Sharks are not appropriating of some BTC already.

Well some wallstreet and early speculators are investing right now.

Maybe not the whales, but there are always ants in the trading floor that like to try out all new stuff.

Now they are probably not trading it on the stock exchange, but they opened already an account at bitfinex or coinbase

So many "ex" wallstreet traders came to trade bitcoin instead, is the right way to put it

any press is good press, i am still in 2 minds :/

I don't know how it helps the bitcoin adoption. Because the blockchain tech is already very popular but the bitcoin is still very neglected in terms of adoption. But still happy to people are adopting the tech. Maybe it will lead to something big in the near future.

Bitcoin is 4.1 billion dollar market cap, who do you think pushed that extra 1 million dough in the market in the last weeks if not Wallstreet?

Of course Wallstreet is onboard, MONEY NEVER SLEEPS PAL!  8)

open minded and frontier, it really makes the technology popular and give it the right position.