Author Topic: OSTK - Overstock.com  (Read 109167 times)

marcosc

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Re: OSTK - Overstock.com
« Reply #360 on: January 22, 2018, 01:16:33 AM »
I know it's a small thing but that bug with bitcoin cash annoyed me.  They use a third party for the actual bitcoin transactions and it is alledged that they didn't use the API return calls properly.  As a result some researcher found a way to put transactions through using bitcoin cash instead of bitcoin without them immediately detecting it.  I think they have fixed it but really, these are the guys at the forefront of bitcoin technology?

There's lots of reasons to dislike OSTK, but this seems rather silly. It's akin to saying Google should have no business running search and cloud given a bug in their domain registration service allowed a third party to hijack the google.com domain name (!!) (http://uk.businessinsider.com/this-guy-bought-googlecom-from-google-for-one-minute-2015-9?r=US&IR=T) If anything, I think the BCH bug is just proof that no one really uses these cryptos to actually pay for goods/services, as it would probably have been detected long ago...


Parsad

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Re: OSTK - Overstock.com
« Reply #361 on: January 22, 2018, 01:25:57 PM »
Well I'm agnostic about him, I don't like him or hate him, I don't know nearly as much as I should to have an opinion. I started taking interest lately after seeing some of the connections that I outlined and I just read about him and his company. What I do like is his intelligence, I don't think anyone can deny he is one smart cookie. The thing that I don't like is his behavior, Taking an ad on the wall street journal https://qzprod.files.wordpress.com/2013/07/screen-shot-2013-07-27-at-3-36-03-pm.png?w=640 taunting Steve Cohen (Even if the "Sith Lord" did everything Patrick claims it makes him look very bad) or sending an email to a fortune reporter asking her "why exactly did you become a reporter? Giving Goldman traders blowjobs didn't work out?" is no way to behave by my book even if she made fun or smirky remarks regarding his cancer.

Patrick is an Irish brawler...he's fought all his life and will continue to do so...it's in his DNA.  You might not be fond of those comments or the stance he took, but without Overstock's lawsuits and Fairfax's lawsuits, you would not have seen the changes at the DTC and the end of naked shorting on Wall Street. 

John Byrne subsequently admitted he should have supported his son and he was right.  Buffett also said he didn't see naked shorting as a problem...if you run Berkshire Hathaway and are in the enviable financial position that Berkshire is in, of course you don't see a problem.  But it certainly existed, and there were many people who were taking advantage of companies in vulnerable positions due to an external or internal event.

In terms of the Sith Lord comment...Byrne was simply alluding to a significant player supporting a broad agenda of naked shorting and pulling strings behind the scene.  And as we know, Sith Lords always come in pairs...so Cohen was only one of the players.  The other one is now simply viewed as a renowned philanthropist and didn't get sucked into the lawsuits or SEC prosecutions. 

Byrne the CEO is an acquired taste.  I think he's been a far better visionary than operator.  The one thing shareholders in any Byrne vehicle will get is an honest CEO who will only benefit if his shareholders benefit...now that must be worth something!  Cheers!
« Last Edit: January 22, 2018, 01:28:52 PM by Parsad »
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spark411

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Re: OSTK - Overstock.com
« Reply #362 on: January 22, 2018, 02:52:18 PM »
The reason that OSTK has been a good investment and not just a good company is Patrick Byrne.  I've written why it's a good company but the great thing about OSTK has been the buying opportunities that have existed because of Patrick Byrne.

As many have posted, Patrick Byrne is eccentric and tends to push his agenda/ideals a little too far.    This personal weakness causes this stock to go down more than it should.  The "more than it should" is the very reason this stock creates opportunities for retail investors.  Just two years ago, this stock graded above $24 and then went down to $12!  Just a few months ago, this stock goes from $70 to $45 and now above $80.  The business itself had not changed much.   I would argue that the moat and intrinsic value continues to grow.

Right now, I think the stock is fully valued.   I am waiting for Patrick Byrne to do something else crazy that creates a lot of noise so that it spooks investors and lowers the stock price materially.    :)



no_free_lunch

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Re: OSTK - Overstock.com
« Reply #363 on: January 24, 2018, 10:11:06 AM »
Tzero put in an SEC submission yesterday.   They have now sold $38M of the $250-300M in tzero tokens.  I am not sure about how this all works with timing but does this not concern others, especially given the stock price?  I have a small position but am thinking of closing given that without this ICO being a huge success it is hard to justify the current stock price.  Happy to hear counter-arguments.

https://www.sec.gov/Archives/edgar/data/1726726/000172672618000005/xslFormDX01/primary_doc.xml

rkbabang

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Re: OSTK - Overstock.com
« Reply #364 on: January 24, 2018, 11:28:06 AM »
Tzero put in an SEC submission yesterday.   They have now sold $38M of the $250-300M in tzero tokens.  I am not sure about how this all works with timing but does this not concern others, especially given the stock price?  I have a small position but am thinking of closing given that without this ICO being a huge success it is hard to justify the current stock price.  Happy to hear counter-arguments.

https://www.sec.gov/Archives/edgar/data/1726726/000172672618000005/xslFormDX01/primary_doc.xml


$38,469,716 from 178 investors. That's an average of $216k per investor.  I wonder how many investors they have opened this up to?  I signed up in the beginning of December and I haven't been allowed to invest yet.  Most ICOs open up to everyone on day 1, I wonder why they are doing it this way?

rkbabang

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Re: OSTK - Overstock.com
« Reply #365 on: January 26, 2018, 05:28:58 AM »
The latest email from SAFTLaunch about the tZERO ICO.  More delays:

"Many of you have already completed your KYC/AML on the platform, but we are currently waiting on a number of investors to finalize the process, particularly foreign investors that need their accreditation. As a courtesy to all potential investors who have been invited to this select group, we are extending the launch date of the main sale. Please check your inbox over the next 48 hours for an email from SAFTLaunch.com alerting you that the offering period in which you may participate has opened."

no_free_lunch

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Re: OSTK - Overstock.com
« Reply #366 on: January 26, 2018, 06:39:49 AM »
Well I am not as concerned if it is just a delay in processing accreditation.  Does this mean your window got moved back?

writser

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When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid.

rkbabang

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Re: OSTK - Overstock.com
« Reply #368 on: January 26, 2018, 07:29:01 AM »
Well I am not as concerned if it is just a delay in processing accreditation.  Does this mean your window got moved back?

Yes, but I don't understand why they are doing this.  I was first told middle of December, then that got moved to middle of January, then that got moved to the 26th (today), now it is being moved again.

I've participated in ICOs before.  And how it usually works is that on a certain date it is open to everyone and on a certain date it closes for everyone.  Why this grouping and windowing?  Why a few hundred select investors first then others later?   Wouldn't it be in tZERO's interest to let as many people invest as soon as possible?

RichardGibbons

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Re: OSTK - Overstock.com
« Reply #369 on: January 26, 2018, 09:13:23 AM »
I suspect the difference is that most ICOs completely ignore US securities regulations, while Overstock is at least paying some attention to those regulations.