Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
1–10 of 79 posts
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
#2The title is misleading: the exchange will actually be built on top of Bitcoin using Counterparty (counterparty.io).
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
#3[deleted]
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
#4The issue I see is there's no avoiding putting your trust in the centralized issuer. You can issue and trade inherently centralized assets on a global ledger, but why? What is the advantage for the common man?
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
#5The issue I see is there's no avoiding putting your trust in the centralized issuer. You can issue and trade inherently centralized assets on a global ledger, but why? What is the advantage for the common man?
[deleted]
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
#6The title is misleading: the exchange will actually be built on top of Bitcoin using Counterparty (counterparty.io).
Indeed, the article does mention this later on.
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
#7The issue I see is there's no avoiding putting your trust in the centralized issuer. You can issue and trade inherently centralized assets on a global ledger, but why? What is the advantage for the common man?
I guess the benefit is that you only have to trust the issuer one time. Once the stock has been issued on the blockchain it cannot be manipulated. With a centralized system you'd have to trust the issuer/exchange on an ongoing basis. Whether this difference matters is kind of a philosophical litmus test that divides the blockchain and non-blockchain (i.e. Ripple/Stellar/OpenTransactions) camps.
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
#8The issue I see is there's no avoiding putting your trust in the centralized issuer. You can issue and trade inherently centralized assets on a global ledger, but why? What is the advantage for the common man?
The exchange would be based on the counterparty protocol, which allows anyone with a BTC address to issue and back assets in a decentralized manner. We'll have to see how this decentralization leaks into what it means to be a stock exchange.
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
#9Given Patrick Byrne's history[1] with stocks, markets, regulators, etc. I am not surprised to see him involved in this kind of project.
Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
#10This is sort of the idea I've been waiting to come out of the bitcoin universe for some time now. A decentralized stock exchange seems like an obvious killer application for bitcoin. Though, the only thing I don't like about it is counterpart. Was never a fan of them, nor open transactions...
Why go to the SEC? I feel like the advantage of doing something like this would be the ability to build a trading exchange without any authority over looking it.. I'd say that's what's wrong with the current system (NYSE,NASDAQ,etc).