Bitcoin has entered Wall street officially?

[MightyStorm]

Overstock became the first company to offer a corporate bond, 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.

[Harry Hood]

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.)

[JayCoDon]

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.

[anderson00673]

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.

[randy8777]

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.

[Alley]

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

[Stargazer]

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).

[knowhow]

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...

[H.W.Z]

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!

[Amph]

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

[GreenStox]

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$.

[ThEmporium]

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.)

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.

[evenlydistributingfuture]

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).

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.

[mrhelpful]

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.

[knowhow]

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.

[jbrnt]

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

Medici operates outside the control of corporate banks and traditional stock exchanges, thus transforming a typical stock exchange to a more transparent, reliable and secure system.

This is actually allowed by the SEC?

[lissandra]

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.

[Alley]

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

[qiwoman2]

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.

[TinEye]

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

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.

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?