Overstock.com goes for largest digital coin offering ever at $500 million
https://www.cnbc.com/2017/10/25/overstock-com-goes-for-largest-digital-coin-offer-ever-at-500-million.htmlOverstock Reveals Plans for Equity Token Exchange and ICO
https://bitcoinmagazine.com/articles/overstock-reveals-plans-equity-token-exchange-and-ico/Right now, however, no SEC approved exchange exists that can handle equity tokens, so Overstock is creating one.
If this happens, it opens up many things that StockBet can add to its platform and gamify more of the $70 Trillion stocks asset class!
According to the article:
tZero will incorporate profit sharing features of a security as well as utility features of an app token. For instance, token holders will be able to use the tokens to pay for exchange fees. They will also receive a percentage of tZero’s profits, distributed quarterly and paid into their tZero digital wallets.
An analogy is like this:
Nasdaq is a stock exchange. It is also a publicly traded company, which means you can buy and own shares of Nasdaq. Nasdaq had $3.7 Billion in revenue last year, has a market cap of $12.07 Billion and pays 2.1% dividends.
tZero (which is Overstock) wants to create a new stock exchange, to compete against Nasdaq and New York Stock Exchange, except tokens will represent ownership of stocks.
With tZero, you can buy their tokens, which gives you equity in tZero and receive dividends. You can also use their tokens to pay for exchange fees, which you cannot do with Nasdaq shares.
Overstock is a good indicator of the size of the stock market. Here is a comparison to cryptos:
Cryptos: $0.2 trillion
Gold: $7.8 trllion
Stocks: $70 trillion
Fixed Income: $199 trillion
Derivatives: $630 trillion
See the chart for this at
https://bitcointalk.org/index.php?topic=2152880These are the asset classes that we want to gamify.
Everyone in the crypto community is salivating for Bitcoin to have the same market cap as Gold. Gold is chump change compared to the other asset classes in the stock market.
It’s commonly known that the stock market is the world’s largest casino. According to Boston University Law Review, trading stocks is identical to gambling. Investing is a myth, as the average holding period is 4 months. Wall Street professionals don't try to hide it. They say that they are betting and use the word "bet" all the time. Options and derivatives are bets. According to The Economist and CNBC, the Chinese see little difference between stocks and casinos. Consequently, the amount of gambling activity in stocks is unsurpassed. Vegas and Macao are peons.
Think of Nasdaq and NYSE as the house. The exchange fee is the house cut. But they’re not the only “house”. All of the brokerage firms, such as TD, Fidelity, eTrade, etc., are all houses as well.
NYSE is much bigger than Nasdaq and NYSE is smaller than Euronext, which they merged with.
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