Overstock.com wants to raise $500 million with an ICO

[HashFace]

Looks like ICO is going mainstream.  Not sure what their angle is going to be, or what problem they plan solve with blockchain.  Using the same team that launched FileCoin.

The link, BTW, is cnbc dot com.  For some reason it often gets flagged as a suspicious link.

https://www.cnbc.com/2017/10/25/overstock-com-goes-for-largest-digital-coin-offer-ever-at-500-million.html

[Crasengover]

500 millions I don't think they'll raise at lease a 1/10 of if. ICOs are becoming more and more greedy. Check ICOs that were held in spring and summer, most of them asked for 2-20 millions in average and now we can see that people just want to gain huge amount of money even if they need less then half of all the sum to develop their project.

[rainbow169]

Although I think their idea is ambitious and it does have a great potential if they managed to build a blockchain based exchange for existing assets. However, I doubt in the current market condition it's good time to ask for so much money in ICO, the nov fork of 2x may have a long lasting effect into Dec.

[Warren Buffert]

Looks like ICO is going mainstream.  Not sure what their angle is going to be, or what problem they plan solve with blockchain.  Using the same team that launched FileCoin.

The link, BTW, is cnbc dot com.  For some reason it often gets flagged as a suspicious link.

https://www.cnbc.com/2017/10/25/overstock-com-goes-for-largest-digital-coin-offer-ever-at-500-million.html

Feels good guys like this are kind of late to the game already, 500 million in their dreams  .

[EcoChavCrypto]

There is a fork coming in just less than 20 days from now, and they are expecting to rise more than 500 million dollars? it is insane, ico's are not even raising 4/10 of what they used to raise in the old times. Maybe the most succesfull ones are raising 100 million dollars, not more.
People is not investing in there anymore, only those who are newbies on the market are doing it.
And 500m for a new exchange? it is insane, it is not usefull, it is an useless project.

[Warren Buffert]

There is a fork coming in just less than 20 days from now, and they are expecting to rise more than 500 million dollars? it is insane, ico's are not even raising 4/10 of what they used to raise in the old times. Maybe the most succesfull ones are raising 100 million dollars, not more.
People is not investing in there anymore, only those who are newbies on the market are doing it.
And 500m for a new exchange? it is insane, it is not usefull, it is an useless project.

It just tells us they are looking for easy money, if they expect to raise 500m  they are clearly out of touch with the crypto scene.

[FULL_TILT]

500 Millions is an enormous amount of money. In these days they can raise, maybe with difficults, 50 or 60 millions but no more, IMHO.

[joinfree]

Yes of course, this is ridiculous, who is their community manager? or their financial advisors? because they are doing a horrible job, there has not been any ico who raised that huge amount of money yet, not even Tezos who raised about $200 million dollars, but went to $300m because of the last pump of bitcoin in the last week.
They will never raise that amount, and if they put that mark, the people will not believe in their project, and this is how it works.

[tiggytomb]

Jeez, that really is taking the biscuit, never will they raise that amount of funding, need to look more into what they plan to do but just the fact they ask for 500 million turns me away.

[Lagduf]

At least overstock is registered in the nasdaq and that gives a unique hype to the future overstock ico, Why does the biggest party just like overstock is interested to run its own ico? It looks strange or at least the owners are seeing about the potential to grab a lot of money from ico.
But i hope that will be another money grabber just like the latest project (filecoin).
just watch it.

[mikyadel]

500 million wowww that's insane 

[stripykitteh]

Looks like ICO is going mainstream.  Not sure what their angle is going to be, or what problem they plan solve with blockchain.  Using the same team that launched FileCoin.

The link, BTW, is cnbc dot com.  For some reason it often gets flagged as a suspicious link.

https://www.cnbc.com/2017/10/25/overstock-com-goes-for-largest-digital-coin-offer-ever-at-500-million.html

Overstock says a lot of things but they usually don't get that many people interested in what they have to offer because they cater only to the rich people.

[ticterine]

Overstock makes almost 2B in revenue yearly. Most ICOs make tens of millions with nothing other than a fancy website and a roadmap.