jpm chase getting involved? | Bitcointalksearch.org

zimmah

legendary

Activity: 1106

Merit: 1005

Quote from: kjj on December 10, 2013, 11:36:27 PM

Chase hopes they found the next step on the stupid patent ladder.

First patent: something possibly useful
Second patent: same thing, but on a computer (80s, early 90s)
Third patent: same thing, but on a network (mid 90s)
Fourth patent: same thing, but on the internet (late 90s, early 00s)
Fifth patent: same thing, but on social media (late 00s, early 10s)
Sixth patent: same thing, but as a cryptocurrency (mid 10s, we are here)
Seventh patent: same thing, but on Huh

(late 10s)
...

10th patent: same thing, but interstellar
11th patent: same thing, but in the 4th dimension

PirateButtercup

member

Activity: 61

Merit: 10

I'm just a cave man....I don't understand these strange ways....

but here is JPM's patent application:

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

juve4v

hero member

Activity: 505

Merit: 500

I wouldn't use any of the shitcoins released by the banks. I love BTC and ALT world for what they are and what they represent.
Say NO to any shitcoin delivered by the banks!

Honeypot

sr. member

Activity: 420

Merit: 250

First china, now US. Cryptocurrency is coming under increasing scrutiny from the authorities with so much money invested in them.

Would this stabilize the market? Crash it?

Let's wait and see.

mufa23

legendary

Activity: 1022

Merit: 1001

I'd fight Gandhi.

Quote from: Lethn on December 11, 2013, 03:37:52 AM

They can't patent it, it's open source, the only thing they can patent is their own stuff so it's a fairly pointless thing to worry about anyway.

Yup, this. It's not going to be anything like Bitcoin. They haven't released anything as far as I can tell. Just some journalists basically saying:

"Hmmm.... well maybe it's sorta like that bitcoin thing? Yeah, we'll run with that story!"

beetcoin

sr. member

Activity: 434

Merit: 250

maybe they're just trolling and JPM just stands for "just playing, man." Cheesy

Lethn

legendary

Activity: 1540

Merit: 1000

They can't patent it, it's open source, the only thing they can patent is their own stuff so it's a fairly pointless thing to worry about anyway.

GigaCoin

sr. member

Activity: 308

Merit: 251

Giga

I'm sure lot of big corporates are already at work creating their own crypto currencies.

NUFCrichard

legendary

Activity: 1218

Merit: 1003

How much money is in it for JPM? Unless they hold the majority, or charge high fees, I can't see that it would be in their interest to run a cryptocurrency.

RenegadeMind

copper member

Activity: 1380

Merit: 504

THINK IT, BUILD IT, PLAY IT! --- XAYA

If it's from JPM, it must be creep-o-currency. Tongue

Le Happy Merchant

hero member

Activity: 634

Merit: 500

Quote from: antimattercrusader on December 10, 2013, 10:57:17 PM

Bitcoin is universal. Plus, part of the Bitcoin allure is the resistance to bank and government tampering, as well as it's open source community nature.

This.

If JPM tries to push this at all they are going to end up shooting themselves in the foot as people will openly compare the two. Even ~~newscasters~~ spindoctors would have a hard time making the JPMcoin look good in comparison

Dafar

legendary

Activity: 1330

Merit: 1000

dafar consulting

apparently this patent was filed in 1999.. it's not the same as bitcoins and it is still backed by a credit card

traderCJ

sr. member

Activity: 280

Merit: 250

Quote from: pbody on December 10, 2013, 10:50:02 PM

whats all this news out about jpm chase patenting a bitcoin killer? seems to me more like a ripple killer. think it will drop the price at all?

Ripple killer .. interesting take on it. Where is coinseeker when you need him??

superduh

hero member

Activity: 602

Merit: 500

i'm sick of banks as i'm sure most people are too. time for something new. banks 2.0 sound good. please no JP Morgan or pretty much any other current bank (except for the ones i hold stock in until i sell)

TimOsman

newbie

Activity: 6

Merit: 0

I'd be more concerned with Chase teaming up with Bank of America and others rather than creating competing technologies. Our banking system acts more like a cartel than competitors, I can't see them allowing their stranglehold on the monetary system slip away.

kjj

legendary

Activity: 1302

Merit: 1026

Chase hopes they found the next step on the stupid patent ladder.

First patent: something possibly useful
Second patent: same thing, but on a computer (80s, early 90s)
Third patent: same thing, but on a network (mid 90s)
Fourth patent: same thing, but on the internet (late 90s, early 00s)
Fifth patent: same thing, but on social media (late 00s, early 10s)
Sixth patent: same thing, but as a cryptocurrency (mid 10s, we are here)
Seventh patent: same thing, but on Huh

(late 10s)
...

antimattercrusader

sr. member

Activity: 308

Merit: 250

Well, if Chase patents it, then Bank of America, Wells Fargo, and such will all come out of their own equvilents - thus the systems will likley not be cross compatible, keeping the market fragmented. Bitcoin is universal. Plus, part of the Bitcoin allure is the resistance to bank and government tampering, as well as it's open source community nature.

Whatever it is Chase is working on, might be more akin to Paypal. If it's truly a crypocurrency or the like - and they PATENT it, that would defeat the entire purpose IMO.

pbody

full member

Activity: 198

Merit: 100

whats all this news out about jpm chase patenting a bitcoin killer? seems to me more like a ripple killer. think it will drop the price at all?

Topic: jpm chase getting involved? (Read 1509 times)