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Overstock.com’s CEO Wants To Undermine Wall Street With The Tech Behind Bitcoin (HBO)

Patrick Byrne is the founder and CEO of popular deal site Overstock.com. He also has a doctorate in philosophy and a survivalist ranch where he could ride out a hypothetical zombie invasion. And he has always had ambitions bigger than retail. For years, Byrne used his position to rail against corruption on Wall Street. Then, he discovered bitcoin, and with it, a new way to dismantle what he sees as dismantle what he sees as dangerous institutions.

In 2015, Overstock.com became the first company to accept the cryptocurrency as payment. Byrne still runs the retail site, but he’s poured his time and profits into financing blockchain-based start-ups, including a alternative stock exchange. And he’s attracted a following of crypto fans who share his vision for a future fueled by blockchain.

VICE News spent time with Byrne at a party in Miami, at Overstock headquarters in Utah, and at his secretive ski chalet to find out why he’s betting big on the technology behind bitcoin.

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23 thoughts on “Overstock.com’s CEO Wants To Undermine Wall Street With The Tech Behind Bitcoin (HBO)

  1. Bitcoin has become another way of controlling the economy just like Wall Street, albeit easier to control because of the relatively lower $$ needed to turn the market into someone's favour

  2. Bro, Che and Mao… why is it always the kids who grow up in wealthy, capitalistic families that grow up to be super communist and falsely believe capitalism is the oppressor. Simply ignoring that true oppression arises from national interests of individual states and the corruption within those states. Guy has a philosophy major, which is a major that tells you to create your own thoughts and opinions, but seems to just regurgitate the thoughts of false idols. His blockchain views are well founded though.

  3. Been buying Overstock (OSTK) like crazy! Big fan of what they are doing and their mission. They are the only public company with some quality blockchain assets. Check out their Medici portfolio.

  4. Who names their cat after a communist/terrorist? Is this guy a edgy 15 year old? Blockchain has a place in our future but this guy sure as shit ain't gonna lead it.

    Were there hookers at that party.. sure looked like it

  5. Bitcoin and cryptocurrencies are possibly the biggest bubble out there right now. The reason why cryptocurrencies have all been rising very high is all due to speculations that someday the mass adoption of these currencies will increase. In a recent poll (reported by CNBC I think) they did state that majority of people around the world don't see cryptocurrencies as alternatives at all since they are happy with the current (fiat) currencies that they are using. Let's just give it a few years and I may be right or wrong. But my predictions are that cryptocurrencies will go back down to $0 and no one will care about them anymore causing the value of these coins to decline rapidly. But Blockchain may have the opportunity to disrupt some industries although Blockchain is only being put in test recently and many firms haven't concluded whether blockchain can be helpful. These are just hypes right now but we will see what the future holds regarding cryptocurrencies and the Blockchain technology.

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