Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market

[CryptoCurrencyInc.com]

Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
http://www.wired.com/2014/10/overstock-com-assembles-coders-build-bitcoin-like-stock-market/




NXT and BitShares have created their own version of stock market. But, it doesn't use Bitcoin as the central currency to trade.

What do you think?

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[MichaelBliss]

More great news to drive the price down. 

[hua_hui]

It is a big market and competition will arise. There are many cryptocurrency Stock Markets building up now and later. The customers will choose the best one. 

[Xiaoxiao]

How big is overstock anyway compared to say Amazon or other retailers.

[evok3d]

How big is overstock anyway compared to say Amazon or other retailers.

Amazon has a much larger overall turnover. I believe Amazon in 2013 had a turnover of $74+ Billion in comparison to that of overstock.com which had a turn over of around $1.3 Billion.

Sorce
http://www.digitalbookworld.com/2014/amazon-booms-in-2013-with-74-45-billion-in-revenue/

Either way though overstock has a much greater interest for the overall progress and health of bitcoin as they:

- Keep 10% of bitcoin sales as bitcoin to preserve it from being dumped.
- Donate 4% to the future development of bitcoin technology and platforms.
- $1.3 M already sold through bitcoin sales.

Source:
http://www.coinssource.com/overstock-ceos-passion-for-bitcoin/

Cheers

[BitCoinDream]

It is a big market and competition will arise. There are many cryptocurrency Stock Markets building up now and later. The customers will choose the best one. 

The problem that remains with cryptocurrency Stock Markets is not the technology, but the trust. If some company frauds at NYSE, u can have a process of litigation, which is not possible for cryptocurrency Stock Markets. Anyone will come, pay the authority, get listed, raise money and vanish into oblivion. Due to global nature of cryptocurrency, U cant track them back.

[Elwar]

It is a big market and competition will arise. There are many cryptocurrency Stock Markets building up now and later. The customers will choose the best one. 

The problem that remains with cryptocurrency Stock Markets is not the technology, but the trust. If some company frauds at NYSE, u can have a process of litigation, which is not possible for cryptocurrency Stock Markets. Anyone will come, pay the authority, get listed, raise money and vanish into oblivion. Due to global nature of cryptocurrency, U cant track them back.

The article says that Overstock will be working with the SEC...so it is very likely that the process will still be similar, just with improved technology.

[crazy_rabbit]

Of course, Bitcointalk still treats counterparty/mastercoin (they are the same thing in origin) as a type of scam altcoin..... Now that a real company is taking this type of Bitcoin 2.0 or alt-Coin seriously and building a serious financial product with it, can we talk about it more openly now?