A big glitch in cryptocurrency is impacting some shoppers online. Last week, a bank security firm uncovered Overstock.com unknowingly accepted Bitcoin Cash instead of Bitcoin as payment for a product. The glitch has since been fixed. Overstock.com CEO Patrick Byne responds to this mix-up.
Byne explained that there was no glitch with Overstock but rather a glitch at Coin Base. He estimated that the impact was less than $100 and did not severely impact any of their consumers. Byne was overall surprised by the amount of attention the story had received compared to the minimal impact it had.
Byne explains that Overstock is not expecting to create their own cryptocurrency. For the time being, they are happy to accept US dollars and Bitcoin.
Overstock.com is excited to be utilizing revolutionary crypto and developing their own blockchain technology for their platform. At this point, Overstock.com has made it a priority to use blockchain tech and develop it in the new year. Byne's goal is to build the most value per share of stock, and that's what he tells shareholders as CEO.
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Just a week after talks of him starting his own social media platform, Tesla CEO Elon Musk purchased a 9.2 percent stake in Twitter. The stock by resulted in a price surge for both Twitter and Tesla stocks, but questions are swirling about how much of an active stake this will be for the controversial figure who's had a fraught relationship with the platform over the years. Dan Ives, the managing director of equity research at Wedbush, joined Cheddar News to discuss. "I think this is a start of what's gonna really be a soap opera with Musk, either getting on the board or forcing significant strategic changes at Twitter," he noted.
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Space tourism continues to be generating buzz after the most recent Blue Origin launch. Two of its passengers made history as the first married couple to travel to space. The couple, Marc Hagle, CEO at Tricor, and Sharon Hagle, CEO at Spacekids Global, joined Cheddar News fresh off of their trip to talk about their experience and future space travel plans. "If there is a Santa Claus, we’ll have the opportunity to fly with Virgin Galactic, and maybe we'll have the opportunity to fly with SpaceX," said Marc Hagle, followed by Sharon explaining they had already signed up with Virgin Galactic about 15 years ago.
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The head of Russia’s space program says the future of the ISS hangs in the balance after the U.S., EU, and Canadian space agencies missed a deadline to meet Russian demands for lifting sanctions on Russian enterprises and hardware.
