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.
These are the headlines you Need 2 Know for Tuesday, December 17, 2019.
The company’s stock fell Monday after a morning report from the newspaper said Boeing would likely make an announcement today. Boeing’s board met Sunday and Monday to determine the future of the plane.
CEO Roei Ganzarski said the excitement of the moment the first electric-powered commercial flight took off felt like the birth of another child.
The U.S. residential solar market posted its biggest quarter on record in Q3 2019, according to a report by Wood Mackenzie Power and Renewables.
Robinhood, the popular single-stock trading app, now allows users to invest in fractions of stocks or funds. The new feature, launched Thursday, is the next step for the fintech unicorn in becoming “the best place for first time and new investors,” Abhishek Fatehpuria, a product manager, told Cheddar.
Wayv seeks to provide an Amazon-like, end-to-end service that includes financing, wholesale, and logistics for cannabis retailers, growers, manufacturers, and distributors.
An FAA analysis after the first crash of a Boeing 737 Max predicted there would be more disasters without a fix of critical automated flight-control system. Safety officials estimated there could be 15 more crashes of the Max over the next few decades. Yet the Federal Aviation Administration did not ground the plane until a second deadly crash five months later.
Google's 'Year in Search' report is out, and it shows what we've all been looking for in 2019.
The Recording Academy recently named Grammy award-winning singer-songwriter Jason Mraz as its District Advocate Ambassador. Mraz told Cheddar that it's currently "the wild west in music."
The New York State Department of Financial Services has proposed new guidance for licensed cryptocurrency firms that would make it easier for them to add new coins to their offerings, Superintendent Linda Lacewell announced Wednesday.
