I submitted a direct link to tØ this morning but it got flagged because people didn't understand it and/or thought it was a scam: https://news.ycombinator.com/i

I submitted a direct link to tØ this morning but it got flagged because people didn't understand it and/or thought it was a scam: https://news.ycombinator.com/item?id=10008684 https://news.ycombinator.com/item?id=10008684 The background to this is that Patrick Byrne (CEO of Overstock) isn't a fan of Wall Street, particularly naked short selling. He became interested in Bitcoin and potential applications of the underlying technology for trading and settlement[0]. Last year, he hired the team behind Counterparty to actually make it happen[1,2]. In April, Overstock filed a prospectus with the SEC, seeking permission to issue crypto-securities [3,4]. In May it emerged that Overstock had purchased a strategic stake in PRO Securities, a brokerage which operates an alternative trading system[5]. Last night, he held a press conference where he laid out plans for tØ to provide a platform/services for trading crypto-securities, and create a market to bring together investors who are willing to loan out their long stock positions, and short-sellers who are looking to borrow stock (this market is currently opaque, over-the-counter and intermediated by investment banks like Goldman Sachs).[6] 0: http://www.wired.com/2014/02/rise-fall-rise-patrick-byrne/ http://www.wired.com/2014/02/rise-fall-rise-patrick-byrne/ 1: http://www.wired.com/2014/07/overstock-and-cryptocurrency/ http://www.wired.com/2014/07/overstock-and-cryptocurrency/ 2: http://www.coindesk.com/overstock-hires-counterparty-developers-build-cryptosecurity-stock-exchange/ http://www.coindesk.com/overstock-hires-counterparty-develop... 3: https://www.sec.gov/Archives/edgar/data/1130713/000104746915006473/a2225454zs-3a.htm https://www.sec.gov/Archives/edgar/data/1130713/000104746915... 4: http://www.wired.com/2015/04/overstock-files-offer-stock-works-like-bitcoin/ http://www.wired.com/2015/04/overstock-files-offer-stock-wor... 5: http://www.wired.com/2015/05/overstock-stakes-trading-co-stock-mimics-bitcoin/ http://www.wired.com/2015/05/overstock-stakes-trading-co-sto... 6: http://www.coindesk.com/overstock-unveils-blockchain-trading-platform-to/ http://www.coindesk.com/overstock-unveils-blockchain-trading...