Bitcoin and All Existing Cryptocurrencies Headed to Zero ...

Overstock Surges 23% On News It Will Sell Retail Business, Launch tZero Crypto

Authored by Mike Shedlock via MishTalk,
In an obvious act of desperation, Overstock will sell its retail business to launch a crypto business called tZero.

Overstock CEO Patrick Byrne is so certain about blockchain technology that he’s planning to sell Overstock’s retail business to Launch tZero.
Byrne announced tZero in 2015 and it has been losing money ever since, along with everything else Overstock does.
Overstock has invested $175 million in a fully owned unit called Medici Ventures Inc. that houses tZero and a collection of startups developing new uses for blockchain technology a method of recording, sharing and securing data over public computer networks that underpins bitcoin and other cryptocurrencies.
One startup is working with the Rwandan government to develop a digital property-rights platform. Another, Voatz, ran a blockchain-based pilot with West Virginia that allowed military personnel serving overseas to cast their votes in the midterm elections through a smartphone app.
Mr. Byrne’s quest has been costly for Overstock. Medici lost $39 million through the first nine months of 2018, following a $22 million loss in 2017. (All told, Overstock lost $163.7 million through the first nine months of 2018.)
Overstock shares also have suffered. In 2017, the company’s stock traced bitcoin’s mania, rising from $15 in the summer to nearly $87 by January 2018

Overstock Losses


Cold Fusion

I don’t care whether tZero is losing $2 million a month,” Mr. Byrne said in an interview.“We think we’ve got cold fusion on the blockchain side.”
Byrne declined to name potential suitors, but expects to wrap up a deal by February.
He envisions a platform that would trade assets that could be easily traced and tracked. Initially, it would trade security tokens—a combination of a bitcoin-like digital token and a traditional bond or stock. It is also developing a product called digital locate receipt, a way of tracking equities borrowed for short selling.
Trying to get all the regulatory approvals for this has taken time, and tZero has blown past several expected launch dates. The company says it will go live in the first quarter.
Still, security tokens are still more theory than reality. Mr. Byrne said tZero will have one asset available for trading when it launches: its own security token. Earlier this year, tZero closed on an offering of the tokens that raised $134 million.

Appropriately Named tZero

I like the name. It will head _To Zero_ like most of the rest of the crypto business.
This is an act of pure desperation by a company that clearly running out of cash.
Of course, Byrne can stay in business as long as he can get get enough suckers to buy useless tokens.
submitted by rotoreuters to zerohedge [link] [comments]

Mike Global Warming Fraud Exposed. Mish Shedlock - Oct. 2, 2019 Next Financial Crisis Six to Nine Months Away? Mike 'Mish' Shedlock - September 15, 2017 MACRO ANALYTICS - 05 19 16 - Mish's Monthly Macro - May - w/Mish Shedlock Can You Trust Latest US Economic Numbers? Mike

What's a bitcoin mine look like? Let's take a look inside a Washington State mine. Here are some ima... Bitcoin is a free market construct. But it is primarily based on faith.China CrackdownIn Bitcoin Sinks Below $7000 on China Crackdown I posed this issue.If and when central banks crack .08/30/2020 ... In January 2009, just as the “Peter Schiff was Right” YouTube video that catalogued my previously derided predictions about a coming financial collapse was racking up views and attracting mainstream attention, a blogger and investment advisor named Mike Shedlock (aka “Mish”) saw an opportunity to make an unethical grab at my current and prospective clients by breaking the nascent wave. The Bitcoin chart is seriously broken. Support level after support .07/16/2020 10:31:43AM EST. Mish. Dec 6, 2018. The Bitcoin chart is seriously broken. ... Mike "Mish" Shedlock. 1. 11. Comments (11) Sort: Oldest. No. 1-6. ... Bad news for bitcoin miners: It's no longer profitable to create ...

[index] [4281] [1866] [20707] [32103] [29923] [21388] [21431] [23516] [10044] [10121]

Mike "Mish" Shedlock: There's Been A (Bullish) Trend ...

🔴 Bill Gates Live Microsoft, Bitcoin Crash, Anti-Bearish Coalition, Investments, Business, NEWS Microsoft US 6,768 watching Live now How To Fix Forward Head Posture - 3 Easy Exercises (From a ... Men Making Comparatively Less than in 1973 Guest's website; https://mishtalk.com/ Produced by http://www.HoweStreet.com Stay Informed! Receive our Weekly Recap of ... (Mish Shedlock article) https: ... Bitcoin, Gold Money, or mailing us some physical gold or silver, Wall St for Main St accepts one time donations on our main website. ... ABC News (Australia ... 🔴The Race To Own 1 Bitcoin Is On ... NBC Nightly News Broadcast (Full) ... Mish Shedlock - Sept. 5, 2019 - Duration: 23:20. talkdigitalnetwork 400 views. Brexit, US China Trade Talks. Mish Shedlock - Sept. 5, 2019 talkdigitalnetwork. ... Watch Live Primary Night Coverage From NBC News NOW NBC News (Live Stream Recording) - Duration: 2:55 ...

#