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.
Topic: Is JPM Preparing To Unveil Its Own Electronic Currency? - page 2. (Read 3896 times)
well, because they patented it first apparently. i guess that's how patent rules work.
How can they patent something that's already existing and being used.
a fork would be pretty interesting.. we'd be able to see what the underpinnings of bitcoin support is about. is it so great because it's a new form of money, or because it's a way to say "fuck you" to fiat?
I'm on board to fork
I think that if JPM creates their own centralized cryptocurrency and on top of that patent it then i guess bitcoin will find some unexpected allies in the face of other banks.
There is absolutely nothing JPM can do to trump BTC.
BTC inherently is exactly what JPM isn't. It's the antithesis. That is what makes BTC so great. You think that CORE component of BTC will be ignored?
BTC inherently is exactly what JPM isn't. It's the antithesis. That is what makes BTC so great. You think that CORE component of BTC will be ignored?
One month after it's first block the BankofAmericacoin will have more users that the entire BTC and LTC coin.
Just like a coin launched by the bank of Cyprus will have more that actual bitcoin Cyprus users.
People don't learn , and some of them don't want to.
Just like a coin launched by the bank of Cyprus will have more that actual bitcoin Cyprus users.
People don't learn , and some of them don't want to.
One week after it's first block, BankofAmericacoin will be forked.
If you're hoping that the average merican' is smart enough to recognize a national system failure and take action on that understanding then you're going to be disappointed. If an existing financial power player decided to copy the basic concepts of Bitcoin, even if the new system is centralized, then they would win and Bitcoin would lose. They have enough funding, existing customers and trust of the people to be successful. Advertising against Bitcoin in favor of their system would be the deciding factor. Bitcoin has no advertising budget and must rely on press sound bites for attention (most of those have been negative revolving around thefts). JPM could advertise during the super bowl.
I have written about the dangers of banks taking over the cryptocurrencies but was dismissed. Glad I'm not the only one who senses danger here. The banks could easily centralize a digital currency based on Bitcoin. I'm afraid the Bitcoin protocol lends itself to centralization. The masses will buy into it because it will be backed, their money will be 'safe' in crypto banks. No laws have to be introduced to ban bitcoin it will wither and die in the face of competition from the banksters.
One month after it's first block the BankofAmericacoin will have more users that the entire BTC and LTC coin.
Just like a coin launched by the bank of Cyprus will have more that actual bitcoin Cyprus users.
People don't learn , and some of them don't want to.
From Reuters: Criminal action expected against JPMorgan in Madoff case:
http://finance.yahoo.com/news/criminal-action-expected-jpmorgan-madoff-051831326.html
The currency would have been a scam probably. http://finance.yahoo.com/news/criminal-action-expected-jpmorgan-madoff-051831326.html
From Reuters: Criminal action expected against JPMorgan in Madoff case:
http://finance.yahoo.com/news/criminal-action-expected-jpmorgan-madoff-051831326.html
http://finance.yahoo.com/news/criminal-action-expected-jpmorgan-madoff-051831326.html
If you're hoping that the average merican' is smart enough to recognize a national system failure and take action on that understanding then you're going to be disappointed. If an existing financial power player decided to copy the basic concepts of Bitcoin, even if the new system is centralized, then they would win and Bitcoin would lose. They have enough funding, existing customers and trust of the people to be successful. Advertising against Bitcoin in favor of their system would be the deciding factor. Bitcoin has no advertising budget and must rely on press sound bites for attention (most of those have been negative revolving around thefts). JPM could advertise during the super bowl.
I have written about the dangers of banks taking over the cryptocurrencies but was dismissed. Glad I'm not the only one who senses danger here. The banks could easily centralize a digital currency based on Bitcoin. I'm afraid the Bitcoin protocol lends itself to centralization. The masses will buy into it because it will be backed, their money will be 'safe' in crypto banks. No laws have to be introduced to ban bitcoin it will wither and die in the face of competition from the banksters.
JPMcoin = paypal with lower fees. might succeed but not actually a competitor. the people who are attracted to bitcoin will not bother with this baloney. look at the canadian mint's digital currency. almost zero intrest in adoption, it pretty much failed before it even launched. you just cant replace the decentralized part.
on the other hand it is FANTASTIC for JPM. The way they have manipulated gold and silver, selling paper metals that they dont actually have in the vaults... this is like 1000000x easier and cheaper to do for them. they dont even need a vault to pretend is full. ofc this is bad for the rep of cryptos in general.
on the other hand it is FANTASTIC for JPM. The way they have manipulated gold and silver, selling paper metals that they dont actually have in the vaults... this is like 1000000x easier and cheaper to do for them. they dont even need a vault to pretend is full. ofc this is bad for the rep of cryptos in general.
If you're hoping that the average merican' is smart enough to recognize a national system failure and take action on that understanding then you're going to be disappointed. If an existing financial power player decided to copy the basic concepts of Bitcoin, even if the new system is centralized, then they would win and Bitcoin would lose.
I agree.
But I think them murikans underestimate the power of tax havens they gave birth to.
Backfire incoming...
They are a little late to the game. There are so many good altcoins out there already that I highly doubt people who already know about bitcoins and cryptocurrencys will jump ship to their new coin. That just leaves people who both are not yet invested in a coin and would be interested in getting into cryptocurrencys which is a fairly slim percentage of people right now.
I would be so disgusted to see some major corporation lock something crypto based down with a patent. Wow I never even considered the possibility..
You can't patent prior art but they will screw us for things we haven't thought of yet
I wouldn't count on the "prior art" argument.
The first filed patent was in 1999.
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
You can't patent prior art but they will screw us for things we haven't thought of yet
I would be more worried about them using it as a patent troll bludgeon against bitcoin companies.
Either get with the times or fall behind them.
There is no way that any of these major financial players have not seen the value of diversifying they're portfolio with cryptos.
Digital currencies are a threat to they're financial control and they will take any steps necessary to protect it, be it heavy investment into other cryptos or by creating they're own.
There is no way that any of these major financial players have not seen the value of diversifying they're portfolio with cryptos.
Digital currencies are a threat to they're financial control and they will take any steps necessary to protect it, be it heavy investment into other cryptos or by creating they're own.
Centralization again.
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