Overstock has just sent this email to over 41 millions people in the US! Can you think about a better ad? In the link, the FULL article!
http://www.overstock.com/80786/static.html?ehid=EF916438FE97B21EE040010A249C4B4ADear Valued Customer,
Enclosed, please find the Wired Magazine article, "Meet Patrick Byrne: Bitcoin Messiah, CEO of Overstock, Scourge of Wall Street". It concerns the decade-long battle Overstock has waged to expose Wall Street mischief.
The backstory is as follows: Overstock went public in 2002. Between 2002 and 2005 I found myself mingling with various Wall Street bankers, hedge funds, and journalists, and began to form an impression (and hear) of unsavory activity. I made it my hobby to study it, and in 2005 I went public about what I had learned. For several years thereafter, the New York financial press derided and distorted my claims, often to the point of appearing to engage in a cover-up. When in 2008 what I had been saying became indisputable, Wall Street went silent about this episode. The enclosed Wired article recounts that history, and explains how it is related to Overstock's recent decision to accept Bitcoin.
I understand that you may not be interested in tales of corruption in Wall Street and Washington, DC, and if so, please simply enjoy the coupon above. However, if you read this piece from Wired, which effectively ends a cover-up regarding the Battle of Overstock versus Wall Street, I think you will understand why I chose to share this article with 41.7 million of my closest friends.
Your humble servant,
Patrick M. Byrne, CEO
"Scourge of Wall Street"
This is great. One note is that at some point Bitcoin may not be the best currency to use for shopping. Bitcoin is volatile because it functions more like a stock while a currency is supposed to be something stable
As next generation crypto technologies hit the scene the opportunity will arrive for individuals and businesses to use truly stable currencies. At that point the question will be where do we want to go next?
The Mt Gox situation has shown us that we will need Proof of Solvency, Proof of Reserve, and Proof of Collateral. This will be to protect customers, investors and businesses alike. What we need to spend more time on is discussing the possible solutions so we can figure out how to bring companies like Overstock completely into the cryptocurrency fold.