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.
Lyft filed for its initial public offering in a confidential registration statement with the Securities and Exchange Commission, it announced in a press release Thursday morning.
The markets rebounded from session lows after news broke the Federal Reserve is considering a new approach to interest rates that could translate to fewer rate hikes in the coming year. The Wall Street Journal reported on Thursday the Fed is considering a "wait-and-see" mentality for monetary policy, after the anticipated December hike that is by and large already priced into the markets.
StoreMe wants to solve travelers' "schlepping problem." The on-demand app allows travelers to search a location, input the number of bags they have, and make a reservation. That way, as travelers are passing through cities, they can enjoy the sights sans luggage. "This service is convenient, on-demand, and it's totally affordable," Peter Korbel told Cheddar Wednesday.
Care to watch the original "Star Wars" trilogy? Don't assume Disney's forthcoming streaming service Disney+ will have it. And while AT&T owns "Friends," it won't be streaming it exclusively on its own OTT platform when it launches in 2019 ー viewers will still be able to binge the series on Netflix. "Star Wars" and "Friends" are just a couple of the confusing licensing arrangements viewers should expect as more media companies push to debut their own streaming services to rival Netflix and Hulu.
In the virtual-reality world, "Mission Impossible" is possible after all. VR start-up Nomadic has partnered with VRWERX and Paramount to create a "tactile" experience for the "Mission Impossible" movie franchise that will allow users to interact physically with the virtual world of the movie.
After Tumblr announced it would pull so-called "adult content" from its platform, a larger-than-expected group of users erupted in protest. According to Shannon Liao, a tech and culture reporter at The Verge, many flocked to the platform "to browse sex-positive blogs and also different kinds of curated porn," in a "safe place."
Reports indicate that widespread 5G may arrive in 2019, and providers are scurrying to meet that unofficial deadline in the wake of Verizon's recent announcement that it will partner with Samsung to release a 5G phone by June.
Instagram and WhatsApp are reasons to believe in the future of Facebook as social media trends toward community-based social platforms that reflect users' specific interests, Reddit co-founder, investor, and 21st century renaissance man Alexis Ohanian told Cheddar on Tuesday.
These are the headlines you Need 2 Know for Tuesday, Dec. 4, 2018.
SpaceX plans to launch an unmanned cargo spacecraft bound for the International Space Station on Tuesday. But the scientific equipment and experiments aboard the ship are actually meant to improve life on Earth, Ken Shields, chief operating officer for the ISS National Laboratory, told Cheddar. With increasing privatization of the aerospace industry, Shields said space on shuttles to ISS is increasingly in-demand, even if the experiments aboard aren't exactly out-of-this-world.
