Is JPM Preparing To Unveil Its Own Electronic Currency?

Bitcoinpro

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Quote from: polarhei on December 14, 2013, 03:33:25 AM

JPM only introduces a mastered project due to the trading trend. Retail instead of bulk. The current model is bulk based in order to save cost if you purchase massive amount such as a hundred and twenty (10 dozens).

JPM is not providing his own electronic currency, just a low-commmion fee payment system like bitcoin.

And its already been declared invalid and infringes on the commons rights of all Crypto currency users.

polarhei

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Firing it up

JPM only introduces a mastered project due to the trading trend. Retail instead of bulk. The current model is bulk based in order to save cost if you purchase massive amount such as a hundred and twenty (10 dozens).

JPM is not providing his own electronic currency, just a low-commmion fee payment system like bitcoin.

cdog

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pand70

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Quote from: MikeyVeez on December 13, 2013, 02:20:50 AM

Quote from: Cryptolator on December 13, 2013, 12:50:55 AM

A centralized virtual currency would be completely irrelevant. I think the main advantage of Bitcoin is that it is decentralized.

Again, where all the Bitcointards are wrong. You guys really do need to step out into real life every now and then. Nobody gives a shit about Bitcoin 99% of the people ridicule it. They will happily accept US government coin because to them it's backed by something "credible" unlike Bitcoin in their minds.

You need to realize this forum is the minority, your merrits, your love, your opinion is the complete opposite in the real world.

How about bitcoin's market value? The senate hearing? The questions in parliaments all over the world? The bank of china notice? Aren't those facts in the real world?

DeeSome

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Quote from: DoubleMyCoins! on December 13, 2013, 07:46:19 PM

Quote from: DeeSome on December 13, 2013, 07:41:31 PM

Quote from: DoubleMyCoins! on December 13, 2013, 05:04:00 PM

So I'm reading their patent claim:

Imagine paying for some product in a transaction directly with the seller that doesn’t include a costly third-party fee or the revelation of a personal account number — the current components that comprise credit card and debit card purchases. Imagine this system with a “real-time digital exchange of value.” And imagine that you can archive all the transactions in a personal digital wallet, with its own “Internet Pay Anyone (IPA)” account and inherent safeguards built-in, something that you could call “Virtual Private Lockbox (VPL),” according to JPMorgan’s patent.

Imagine you can archive all transactions in a personal wallet, with its own Internet Pay Anyone account? That's BITCOIN! How could they get away with this?

I did a bit of searching on the patent.
http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PG01&s1=20130317984&OS=20130317984&RS=20130317984

"Inventors: O'Leary; Denis; (New York, NY) ; D'Agostino; Vincent; (New York, NY) ; Re; S. Richard; (Westfield, NJ) ; Burney; Jessica; (New York, NY) ; Hoffman; Adam; (New York, NY)"

Basically all the so-called inventors are nothing more than over-hyped salesmen.

Who's to say the actual inventor wasn't Satoshi and maybe he went rogue or possibly JPM just released it to let the Bitcoin community do all the hard work of getting it out into the open before they use patent laws to try and wipe it out and replace it with "backed" JPM-coin.
So many possibilities.

My point is about what's called "prior art". In order to patent something it can't be something already used in the past. Bitcoin was obviously in wide use before JP Morgan got their creative brainstorm. I wonder if their deep pockets will buy automatic patent application approval...

Look at the link, the patent was first filed in 1999 and granted in 2000 and 5 continuations up to the latest patent.

FandangledGizmo

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This is a real threat guys! JPM have such massive support among Milennials!

I guess we'll just have to hope against hope that #JPMCurrency won't be the roaring success #AskJPM was...

DoubleMyCoins!

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Quote from: DeeSome on December 13, 2013, 07:41:31 PM

Quote from: DoubleMyCoins! on December 13, 2013, 05:04:00 PM

So I'm reading their patent claim:

Imagine paying for some product in a transaction directly with the seller that doesn’t include a costly third-party fee or the revelation of a personal account number — the current components that comprise credit card and debit card purchases. Imagine this system with a “real-time digital exchange of value.” And imagine that you can archive all the transactions in a personal digital wallet, with its own “Internet Pay Anyone (IPA)” account and inherent safeguards built-in, something that you could call “Virtual Private Lockbox (VPL),” according to JPMorgan’s patent.

Imagine you can archive all transactions in a personal wallet, with its own Internet Pay Anyone account? That's BITCOIN! How could they get away with this?

I did a bit of searching on the patent.
http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PG01&s1=20130317984&OS=20130317984&RS=20130317984

"Inventors: O'Leary; Denis; (New York, NY) ; D'Agostino; Vincent; (New York, NY) ; Re; S. Richard; (Westfield, NJ) ; Burney; Jessica; (New York, NY) ; Hoffman; Adam; (New York, NY)"

Basically all the so-called inventors are nothing more than over-hyped salesmen.

Who's to say the actual inventor wasn't Satoshi and maybe he went rogue or possibly JPM just released it to let the Bitcoin community do all the hard work of getting it out into the open before they use patent laws to try and wipe it out and replace it with "backed" JPM-coin.
So many possibilities.

My point is about what's called "prior art". In order to patent something it can't be something already used in the past. Bitcoin was obviously in wide use before JP Morgan got their creative brainstorm. I wonder if their deep pockets will buy automatic patent application approval...

DeeSome

sr. member

Activity: 378

Merit: 250

Quote from: DoubleMyCoins! on December 13, 2013, 05:04:00 PM

So I'm reading their patent claim:

Imagine paying for some product in a transaction directly with the seller that doesn’t include a costly third-party fee or the revelation of a personal account number — the current components that comprise credit card and debit card purchases. Imagine this system with a “real-time digital exchange of value.” And imagine that you can archive all the transactions in a personal digital wallet, with its own “Internet Pay Anyone (IPA)” account and inherent safeguards built-in, something that you could call “Virtual Private Lockbox (VPL),” according to JPMorgan’s patent.

Imagine you can archive all transactions in a personal wallet, with its own Internet Pay Anyone account? That's BITCOIN! How could they get away with this?

I did a bit of searching on the patent.
http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PG01&s1=20130317984&OS=20130317984&RS=20130317984

"Inventors: O'Leary; Denis; (New York, NY) ; D'Agostino; Vincent; (New York, NY) ; Re; S. Richard; (Westfield, NJ) ; Burney; Jessica; (New York, NY) ; Hoffman; Adam; (New York, NY)"

Basically all the so-called inventors are nothing more than over-hyped salesmen.

Who's to say the actual inventor wasn't Satoshi and maybe he went rogue or possibly JPM just released it to let the Bitcoin community do all the hard work of getting it out into the open before they use patent laws to try and wipe it out and replace it with "backed" JPM-coin.
So many possibilities.

QuestionAuthority

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You lead and I'll watch you walk away.

Quote from: DoubleMyCoins! on December 13, 2013, 05:04:00 PM

So I'm reading their patent claim:

Imagine paying for some product in a transaction directly with the seller that doesn’t include a costly third-party fee or the revelation of a personal account number — the current components that comprise credit card and debit card purchases. Imagine this system with a “real-time digital exchange of value.” And imagine that you can archive all the transactions in a personal digital wallet, with its own “Internet Pay Anyone (IPA)” account and inherent safeguards built-in, something that you could call “Virtual Private Lockbox (VPL),” according to JPMorgan’s patent.

Imagine you can archive all transactions in a personal wallet, with its own Internet Pay Anyone account? That's BITCOIN! How could they get away with this?

They can do it because the USA has no gravity. It just sucks so hard it keeps everybody down.

DoubleMyCoins!

member

Activity: 112

Merit: 10

So I'm reading their patent claim:

Imagine paying for some product in a transaction directly with the seller that doesn’t include a costly third-party fee or the revelation of a personal account number — the current components that comprise credit card and debit card purchases. Imagine this system with a “real-time digital exchange of value.” And imagine that you can archive all the transactions in a personal digital wallet, with its own “Internet Pay Anyone (IPA)” account and inherent safeguards built-in, something that you could call “Virtual Private Lockbox (VPL),” according to JPMorgan’s patent.

Imagine you can archive all transactions in a personal wallet, with its own Internet Pay Anyone account? That's BITCOIN! How could they get away with this?

Bitventurer

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S P 8 D E

Quote from: TTBit on December 10, 2013, 01:33:17 PM

Bring it

I wonder if the SEC or CFTC has anything to say about a private company issuing a currency...

mmm , are they saying anything to the FED ?

EvilPanda

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Small Red and Bad

Quote from: Gabi on December 13, 2013, 12:20:33 PM

Who cares? Bitcoin don't give a shit, who will use their "currency"?

+1
Anyone excited with such "news" should leave their cave more often.

Gabi

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If you want to walk on water, get out of the boat

Who cares? Bitcoin don't give a shit, who will use their "currency"?

jones31

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Quote from: Sephera on December 12, 2013, 11:07:03 PM

Quote from: beetcoin on December 12, 2013, 10:38:16 PM

Quote from: Sephera on December 12, 2013, 10:22:38 PM

How can they patent something that's already existing and being used.

well, because they patented it first apparently. i guess that's how patent rules work.

But a technology that already exists and is out in open used cannot be patented...

Funny as it may sounds , it seems they aren't patenting a new technology , they are extended their patent for some kind of digital currency they researched in 1999

Sephera

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Quote from: MikeyVeez on December 13, 2013, 02:20:50 AM

Quote from: Cryptolator on December 13, 2013, 12:50:55 AM

A centralized virtual currency would be completely irrelevant. I think the main advantage of Bitcoin is that it is decentralized.

Again, where all the Bitcointards are wrong. You guys really do need to step out into real life every now and then. Nobody gives a shit about Bitcoin 99% of the people ridicule it. They will happily accept US government coin because to them it's backed by something "credible" unlike Bitcoin in their minds.

You need to realize this forum is the minority, your merrits, your love, your opinion is the complete opposite in the real world.

Are you sure that Fed issued crypto coin will be backed? US dollar used to be backed by gold, now it's backed up debt and they keep printing more and more paper. Reducing spending value. That's why bitcoin value is increasing.

MikeyVeez

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Quote from: Cryptolator on December 13, 2013, 12:50:55 AM

A centralized virtual currency would be completely irrelevant. I think the main advantage of Bitcoin is that it is decentralized.

Again, where all the Bitcointards are wrong. You guys really do need to step out into real life every now and then. Nobody gives a shit about Bitcoin 99% of the people ridicule it. They will happily accept US government coin because to them it's backed by something "credible" unlike Bitcoin in their minds.

You need to realize this forum is the minority, your merrits, your love, your opinion is the complete opposite in the real world.

Cryptolator

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A centralized virtual currency would be completely irrelevant. I think the main advantage of Bitcoin is that it is decentralized.

justusranvier

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I'm confused why this thread isn't in the Altcoin section.

Operatr

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www.DonateMedia.org

Any bank made "digital currency" would certainly be under their direct control as the "Dollar 2.0", inherently no different than what is already in place. Most Dollars are already electronic. They have zero incentive to create an open currency they can't manipulate to their own ends, as that is how they make obscene (and nigh impossible) amounts of money.

Sephera

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Quote from: beetcoin on December 12, 2013, 10:38:16 PM

Quote from: Sephera on December 12, 2013, 10:22:38 PM

How can they patent something that's already existing and being used.

well, because they patented it first apparently. i guess that's how patent rules work.

But a technology that already exists and is out in open used cannot be patented...

Topic: Is JPM Preparing To Unveil Its Own Electronic Currency? (Read 3896 times)