Will Patrick Byrne Help Or Hinder Elio Motors

[TexasTesla]

It’s common knowledge that Patrick Byrne is the architect of the ElioCoin concept.

And, it’s no secret that Patrick Byrne is a very controversial business leader, and often makes very strange public statements.

Check out Byrne’s recent comments with regards to Venezuela.

It’s hard to take Patrick Byrne seriously.

I think that Paul Elio should tread very lightly with Patrick Byrne.

 

[mkiker2089]

Byrne is less insane than Musk. I don't know if that's good or bad anymore.

I suspect it's really neither. The internet age has removed the filters. JP Morgan was probably just as much a loon but he didn't have a twitter feed to live down.

 

[RSchneider]

https://www.technologyreview.com/s/...nhackable-blockchains-are-now-getting-hacked/

 

[TexasTesla]

https://www.technologyreview.com/s/...nhackable-blockchains-are-now-getting-hacked/

Thanks for posting this article!

Here’s my favorite two paragraph’s from the article.

“In total, hackers have stolen nearly $2 billion worth of cryptocurrency since the beginning of 2017, mostly from exchanges, and that’s just what has been revealed publicly. These are not just opportunistic lone attackers, either. Sophisticated cybercrime organizations are now doing it too: analytics firm Chainalysis recently said that just two groups, both of which are apparently still active, may have stolen a combined $1 billion from exchanges.”

We shouldn’t be surprised. Blockchains are particularly attractive to thieves because fraudulent transactions can’t be reversed as they often can be in the traditional financial system. Besides that, we’ve long known that just as blockchains have unique security features, they have unique vulnerabilities. Marketing slogans and headlines that called the technology “unhackable” were dead wrong.

 

[mkiker2089]

There was a story about a crypto CEO dying and his clients money is lost in limbo. I don't understand it though. To me it seems more likely that the company can't afford to cash out to the clients. There's even a hint that he faked his death to prevent criminal charges.

Crypto money is simply fake money. It can't be recovered because invalidating it would clue people into just how fake it really is.

That said if the crypto money had something behind it, even the hopes of more money, it can work short term. It's like casino chips. They aren't exchangeable directly for products but if they are legit and can be cashed in they are still valuable. ElioCoin could be valuable if the company were to make cars and put their name (and assets) behind it.

The trick is to make cars with money that they can only get by making cars.

 

[TexasTesla]

Still no ElioCoin.

It’s seems rather obvious that Patrick Byrne has deserted Paul Elio.

Byrne has announced in the last several days that investor funding for his tZERO STO trading platform has been slashed by 75%.

 

[TexasTesla]

Overstock.com (tZERO) just announced they're getting into the bitcoin trading business with a mobile trading app they have under development...

Overstock’s security token trading platform tZERO is reportedly set to launch a bitcoin trading app this summer, to let users buy and sell bitcoin on their mobile devices.

According to CoinDesk, the app will be available on iOS and Android devices, and is scheduled to launch in July.

tZERO itself has so far only been trading its own native STO token (TZEROP).

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