Jpja
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Happy mother of 5 children
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October 30, 2014, 09:58:55 AM |
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Can't believe no one's posted this Overstock.com conference call transcript
Thanks for posting it, Jesse. I copied it over at http://counterpartynews.com/. We have a rewards program, and you'll be awarded some tokens if you'd like. The CPNEWS token might have value in the future as it give a stake of ad revenues. Please give me your address if interested.
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jrmg
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October 30, 2014, 11:11:59 AM |
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The ppl selling need to think before they act. Counterparty is going down and not than things like NXT or Bitshares just because Counterparty happened to get mentioned in this article, but over the long term its the best positioned for regulatory compliance. Look at something like NXT and half the assets are scams and most of the other half are tiny one man operations which could never afford to do things the 'right way', but Counterparty seems to be mostly larger projects and has this Medici thing being built.
In my opinion, Counterparty faces many obstacles, one being regulation, another becoming irrelevant via sidechains, another when people realize Byrne is build a completely independent platform that has nothing to do with Counterparty (which is in fact what he is doing, you guys just don't know it yet). You can squabble all day about comparing Counterparty to Nxt or Bitshares, which accomplishes nothing. Nxt assets like Nxxty and Jinn will soon have larger market caps then Counterparty and perhaps even Nxt. I liked your post until the NXT propaganda kicked in. I didn't intend to interject Nxt propoganda. Not sure where you see that, I'm just stating facts. Both Nxxty and Jinn have nothing to do with Nxt, they are just very profitable and fast growing Assets because they have "real world" products, hence they could be subject to SEC regulation. What is this "real world" products what they have? Nxxty is an encrypted mobile messaging app (it doesn't use Nxt). Jinn is a distributed processor based on ternary logic with many uses, Gaming, AT, etc.. So this one encrypted mobile messaging app make Nxxty so great? (or what ever nxt or both) That is good Counterparty no have anything like this what make that very profitable? ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif) Btw how this Nxxty and Supernet have bigger marketcap than Storj or Swarm? Thanks Jesse Livermore this Overstock post.
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nakaone
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October 30, 2014, 12:31:24 PM |
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Patrick Byrne - Overstock.com Inc. - CEO
I was here on page 2 of the announcement thread back in january, when come-from-beyond linked it from the nxt thread. I just understood the basic idea of xnova and phantom and decided to burn a few btc. What was much clearer even back then for me was that these guys really had an idea what they were talking about and the intellectual capabilities to achieve this without living in utopia. the discussion about the purpose of the blockchain with luke-jr in this thread and especially one post of xnova was so remarkable that I decided to share it with friends. Less than 10 months (!!!) later a-half-a-billion nasdaq companies ceo praises this protocol. I basically have three major positions in these crypto-protocols, the other two besides counterparty are driven by deduction, which is in my opinion the best way to handle these uncertain markets. the decision for counterparty is more driven by trust than deduction. I do not want to sound overly enthusiastic and I still have open questions, but if one team is capable of reaching this almost utopian status of disrupting the most powerful market in the world, it will probably be these guys.
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pankogulo
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Counterparty General Manager
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October 30, 2014, 12:44:55 PM |
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Patrick Byrne - Overstock.com Inc. - CEO
I was here on page 2 of the announcement thread back in january, when come-from-beyond linked it from the nxt thread. I just understood the basic idea of xnova and phantom and decided to burn a few btc. What was much clearer even back then for me was that these guys really had an idea what they were talking about and the intellectual capabilities to achieve this without living in utopia. the discussion about the purpose of the blockchain with luke-jr in this thread and especially one post of xnova was so remarkable that I decided to share it with friends. Less than 10 months (!!!) later a-half-a-billion nasdaq companies ceo praises this protocol. I basically have three major positions in these crypto-protocols, the other two besides counterparty are driven by deduction, which is in my opinion the best way to handle these uncertain markets. the decision for counterparty is more driven by trust than deduction. I do not want to sound overly enthusiastic and I still have open questions, but if one team is capable of reaching this almost utopian status of disrupting the most powerful market in the world, it will probably be these guys. +1 well said!
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Equality 7-2521
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A difference which makes a difference
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October 30, 2014, 01:14:27 PM |
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Exactly. Medici is only positive for the wider Counterparty/Bitcoin community, even if it has to interface with the existing legacy infrastructure.
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BldSwtTrs
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October 30, 2014, 01:27:14 PM |
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Will Medici be open source?
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LiteCoinGuy
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In Satoshi I Trust
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October 30, 2014, 03:35:45 PM |
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"The team is going to cost in low single million dollars a year."
he is a true believer.
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prophetx
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he who has the gold makes the rules
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October 30, 2014, 07:08:51 PM |
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while i was speaking at the American Banker conference on digital currencies in NYC in July 2014, i made the argument for how blockchain technologies actually allow for more safety and automation of regulatory rules for trading securities which is good for investors as well as good for gov't regulators to not have to an open view into the software and network to know that certain rules function as they should, are enforced and are transparent to all market participants.
i mentioned how we had a system in place now that is not transparent built on the work of a guy who was chairmen of one of the major exchanges who defrauded people of billions.
there were people there from the NY DFS and the Federal Reserve, and while I am not a mind reader I think some of them found it interesting that it is possible to build a public resources and infrastructure to encapsulate certain rules to ensure that everyone is playing on a level field.
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NewLiberty
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Gresham's Lawyer
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October 30, 2014, 07:56:11 PM |
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while i was speaking at the American Banker conference on digital currencies in NYC in July 2014, i made the argument for how blockchain technologies actually allow for more safety and automation of regulatory rules for trading securities which is good for investors as well as good for gov't regulators to not have to an open view into the software and network to know that certain rules function as they should, are enforced and are transparent to all market participants.
i mentioned how we had a system in place now that is not transparent built on the work of a guy who was chairmen of one of the major exchanges who defrauded people of billions.
there were people there from the NY DFS and the Federal Reserve, and while I am not a mind reader I think some of them found it interesting that it is possible to build a public resources and infrastructure to encapsulate certain rules to ensure that everyone is playing on a level field.
Imagine a world where corruption is not possible. Those with vision will walk toward this world one step at a time. Counterparty has cleared the path, and given it wheels. As the old world fades into the past, the work of government becomes less necessary, their job done before they awake and so have less need of our taxes and time.
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BitDreams
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October 30, 2014, 11:17:07 PM Last edit: October 30, 2014, 11:40:11 PM by BitDreams |
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Can't believe no one's posted this Overstock.com conference call transcript from Oct. 23 (found here: http://investors.overstock.com/phoenix.zhtml?c=131091&p=irol-calendar) : Patrick Byrne - Overstock.com Inc. - CEOMark Griffin - Overstock.com Inc. - SVP & General CounselIt's hard. We haven't had the initial discussions. The framework is going to be difficult. It is a paradigm shift for these regulatory agencies, so it's hard to predict. .... Buy. JL Sidechains and bitcoin 2.0 may allow the insertion of ByLaws into the code enforcing regulation from the start. If I were a blockchain and my task was used solely for machine to machine transactions and if I could prove that with a real time blockchain and a machine coin I should be given a bill of clear sailing by the regulators. If I'm using name coin and my public transit reputation is clear, i want to be in the pre-approved boarding line at the airport - that's not money. So Lawsky doesn't have to wait for this either, he can come out and state... (pardon my exaggerations here) if you can prove on a blockchain that you've provided DNA, fingerprinting, eye-mapping, a bond from your bank account, proof of insurance, proof of assets, recent mental and health evaluations, well you can come buy me lunch at my office and I'll take you on a tour - that's not money. Regulators should provide the entire scale, top to bottom, if you provide proof of this, you will have access to that.
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prophetx
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he who has the gold makes the rules
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October 31, 2014, 12:23:42 AM |
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while i was speaking at the American Banker conference on digital currencies in NYC in July 2014, i made the argument for how blockchain technologies actually allow for more safety and automation of regulatory rules for trading securities which is good for investors as well as good for gov't regulators to not have to an open view into the software and network to know that certain rules function as they should, are enforced and are transparent to all market participants.
i mentioned how we had a system in place now that is not transparent built on the work of a guy who was chairmen of one of the major exchanges who defrauded people of billions.
there were people there from the NY DFS and the Federal Reserve, and while I am not a mind reader I think some of them found it interesting that it is possible to build a public resources and infrastructure to encapsulate certain rules to ensure that everyone is playing on a level field.
Imagine a world where corruption is not possible. Those with vision will walk toward this world one step at a time. Counterparty has cleared the path, and given it wheels. As the old world fades into the past, the work of government becomes less necessary, their job done before they awake and so have less need of our taxes and time. exactly. and i believe that there are people, who are public servants, who think strategically and are enlightened to the point of realizing that laws must make the leap from being enforced by pen, paper and force to digital rights and enforcement; and we are seeing the very first wave of this. these protocols that we are building are the building blocks themselves of digital private arbitration courts that consenting parties agree to when they enter. regarding legislation what really needs to happen is similar to what happened with the Internet in the early days, meaning a relative minimalist, hands off approach where the federal and state enforcement arms are dealing with basic blocking and tackling of simple concepts such as fraud, misrepresentation, theft, etc. the rest can be handled by private civil contract. the Securities Act of 33/34 needs to be amended to reflect this. and as i mentioned in another chat those laws are from a generation where most Americans who were old enough to invest were relatively poorly educated (lacking even high school degrees) and where information flow (googling "is foocoin a scam?") was fragmented and slow creating informational and judgement dissonance in the investing public.
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Fernandez
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October 31, 2014, 06:59:10 AM |
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Confused about the whole SEC business. Still holding my burned coins but wondering whether I made a mistake of not cashing in. I love the technology and the developers, but these regulations may be a huge problem ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif)
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freedomfighter
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October 31, 2014, 09:06:44 AM |
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Confused about the whole SEC business. Still holding my burned coins but wondering whether I made a mistake of not cashing in. I love the technology and the developers, but these regulations may be a huge problem ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif) The question is: how much patience do you have? do you believe that within, say 3-5 years the blockchain technology will be REALLY enabled and clear to all, and ultimately become main stream? if you do, then this can be an early entry at ground floor level to something special, and like me, you should keep your burned coins. if not, then sell for 800% and move on. this should be viewed as a marathon not a 100M dash, and not even a one mile race. Personally, I think that if someone thinks that the regulatory hurdle will take "months", they are fulling themselves. 2-3 years is more like it.
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prophetx
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he who has the gold makes the rules
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October 31, 2014, 10:29:30 AM |
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Confused about the whole SEC business. Still holding my burned coins but wondering whether I made a mistake of not cashing in. I love the technology and the developers, but these regulations may be a huge problem ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif) The question is: how much patience do you have? do you believe that within, say 3-5 years the blockchain technology will be REALLY enabled and clear to all, and ultimately become main stream? if you do, then this can be an early entry at ground floor level to something special, and like me, you should keep your burned coins. if not, then sell for 800% and move on. this should be viewed as a marathon not a 100M dash, and not even a one mile race. Personally, I think that if someone thinks that the regulatory hurdle will take "months", they are fulling themselves. 2-3 years is more like it. i agree with this assessment. also we need to keep in mind that there are other jurisdictions in play. it is possible that the US may take a few years, however smaller jurisdictions who also see this opportunity and are able to react quicker could jump the gun. something like this could be a big money maker for some place like the Isle of Man, or some place in one of the EU countries that have a regional/national exchange and want to expand their footprint. Perhaps Finland or Netherlands.
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deliciousowl
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October 31, 2014, 10:33:01 AM |
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Confused about the whole SEC business. Still holding my burned coins but wondering whether I made a mistake of not cashing in. I love the technology and the developers, but these regulations may be a huge problem ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif) There is no information yet. Consider that in the end the regulations cannot affect the technology itself. And as long as the Bitcoin network exists, Counterparty will keep working. It's a minor setback but not a huge problem. Anyone seriously investing in this technology should have been able to see this coming. In the end, places exist outside of the U.S, and there are many uses for tokens which do not fall under any regulation anywhere. I think to see what is occurring as an end of the world scenario shows a lack of resolve or ulterior motives.
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PetePete
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October 31, 2014, 11:43:21 AM |
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Anotheranonlol
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October 31, 2014, 03:04:44 PM |
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Confused about the whole SEC business. Still holding my burned coins but wondering whether I made a mistake of not cashing in. I love the technology and the developers, but these regulations may be a huge problem ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif) You may be making a huge mistake holding. You are welcome to contact me if you wish to offload your burned coins in one go before they plunge to zero, though. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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GeminiSimba
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Ain't no party like a Counterparty!
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October 31, 2014, 04:10:26 PM |
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Confused about the whole SEC business. Still holding my burned coins but wondering whether I made a mistake of not cashing in. I love the technology and the developers, but these regulations may be a huge problem ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif) You may be making a huge mistake holding. You are welcome to contact me if you wish to offload your burned coins in one go before they plunge to zero, though. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) I'll take half of those mistaken burned coins you have. On a serious note the SEC business is about punishing companies (not technologies) that sell equity/stocks without being licensed to. I'm not going to comment on any other companies selling crypto equity illegally but I will say this, of all companies considering this, "Project Medici" being headed by CEO of Overstock, is a project which is actually going through the proper regulatory channels "before" issuing their crypto-equity virtual stock exchange. This means that when Medici becomes a reality, it will be the first and only crypto currency stock market that the SEC will have officially approved.
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"You see, you and I, we believe in life. But you want to fight for it, to kill for it, even to die--for life. I only want to live it." (Ayn Rand)
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bitcoinrocks
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October 31, 2014, 09:11:46 PM |
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This means that when Medici becomes a reality, it will be the first and only crypto currency stock market that the SEC will have officially approved.
What could be bigger than that? Still, I'm very curious about the role the XCP coin will play in Medici, if any. I'm also a bit concerned that we've been providing betting/gambling services.
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