Overstock.com - The next largest ICO funding.

[Frederick]

Hey everyone. Found this in my inbox this morning, thought id share. 

Overstock.com, the old guard e-commerce company most of us associate with bargain-hunting moms, is planning to raise one of the largest cryptocurrency funding rounds in history. 

What? 

It’s true. Set to launch next month, Overstock.com’s initial coin offering, or ICO, will sell as much as 500m digital tokens, nearly doubling the next largest ICO ($257m) raised by FileCoin this past August.

We don’t think of them as being on the “screaming, bleeding edge” of tech trends, but these guys have been around since 1999 and were one of the earliest e-commerce companies to cash in on the tech boom.

They were also one of the first companies to accept Bitcoin payments (as of this August), and CEO Patrick Byrne has been a vocal advocate of blockchain technology.

Wait, aren’t ICOs pretty shady?

Historically, yes. Less-than-legitimate companies have used ICOs as a loophole to sidestep SEC regulations and raise quick capital without a whole lot of accountability.

Which is a big reason why China has since banned them, and the SEC is taking very deliberate steps to regulate them.

But Overstock.com says that their ICO will be different…

They’ve created the first SEC-compliant coin exchange 

Overstock.com claims to have created a federally regulated platform for companies to trade digital tokens via a subsidiary called tØ (alternately written tZERO) -- and it’s through this marketplace that The O will hold their ICO.

Exactly how connected Overstock.com and tØ will be moving forward remains to be seen: Byrne says that Overstock.com and tØ may very well split into separate entities in the future. 

And if that happens, Byrne, who personally owns “several million” in bitcoin, says he’ll be the one overseeing at least the crypto side of things (if not both parts).

[Kargai]

Just wanna put the link to their ICO : https://tzero.com/

And a complementary article about the subject : https://bitcoinmagazine.com/articles/overstock-reveals-plans-equity-token-exchange-and-ico/

My thought on it is ... not sure about the interest of this specific token but i like the fact that "usual" business like Overflow think and launch project about cryptos. It will help the lambda consumer to know more about it.

[Frederick]

Thanks @Kargai

My thoughts exactly. At this point we are waiting for the general masses of consumers to catch up and any project supporting that is a step in the right direction. 

[wilberthh]

Wow another awesome ICO? Recently I invested in 2 icos, I'll check about this one

[StrikeBALL]

Will check for authenticity to make profit

[Kargai]

3 hours ago, Frederick said:

Thanks @Kargai

My thoughts exactly. At this point we are waiting for the general masses of consumers to catch up and any project supporting that is a step in the right direction. 

Yup and here it's a serious project at least, not an scam ICO. Overflow will not jeopardize his reputation.

I read somewhere than actually the btc ecosystem concern 3-4 millions people in the world. Don't know the veracity of that number but still a long way to touch 3-4 billions people  (every little step like this one will expand that number)