Bitcoin Forum

Reads as if they are wanting to develop there own

http://www.reuters.com/article/2015/03/12/us-bitcoin-ibm-idUSKBN0M82KB20150312

Well it looks like they will be making their own brand of "bitcoin", and even if they succeeded, hopefully it does not bother most of the bitcoin enthusiasts and the community,same thing as it does not bother them from what has applepay is doing.

This is definitely a centralized system with a blockchain technology from Bitcoin, not their own "new Bitcoin", at least this is a recognition to Bitcoin technology.

Pros:

-Gives recognition to BTC.
-Conveniently headquartered near Wall St.

Cons:

-Mindless idea.
-Not decentralized.
-Still attaches currencies to physical locations.
-Still attaches currencies to governments.
-Highly inflationary.
-Controlled by Wall St. for a government controlled by Wall St.
-Provided Nazi technology in WWII.
-Company known for litigation not innovation.
-Made computers which no one reminisces about (unlike old Apple and Commodore Machines).
-China is 80% of BTC trading volume.
-Chinese want to invest/gamble.

Comparing the list, you can easily see that this is a winner!

these companies like to control their funds. so yes, they might make their own crypto currency.
can't really see it impacting bitcoin in any way if they do so.

I think it is fair enough for a company to adopt a blockchain to send information and money around internally. Actually it solves the problem of price fluctuation for a company, they can assign a value to each coin and use them to near instantly and securely send money around the world to different branches and locations.

I don't think it should be considered as a Bitcoin replacement or even really for external use, but for a company it seems like a very efficient idea.

FED/IMBcoin - A currency for the USA gatekeepers
Bitcoin - A global currency with no gatekeepers

Guess which one will win.

This stuff stems from a lack of understanding about the problem blockchains solve; namely, credible distributed anonymous (as in, nodes don't have to be pre-approved) consensus.

If you have some system where you're going to centralize the guts of it (in this case, coin value/management), then why the heck would you bother with blockchains? Just fire up a few clusters in various data-centers around the world and make a slick API for clients to use. Then you don't have to bother with all the really annoying properties of blockchains as a data-structure; properties we only tolerate because we think true credible decentralization has value.

This will affect the btc on price?

Uhm i am the only one to realize that this will actually start the age of bitcoin?
When fiat get its own ledger decentralized and trustless exchange between fiat and crypto will be easily possible

No doubt a lot of us have thought that this could be good for BTC. I can personally say I didn't think of your idea before you mentioned it, though, so cheers. A lot of ppl aren't impressed w/ IBM as a company, as it is not really considered as cutting edge as some others. They seem like a conservative company that's just not wacky enough to be interesting. IBM could provide some healthy competition for better companies. If we were to have some sort of 21st century Umbrella Corporation, though, I think we'd be better off in the hands of Google than IBM. Hell, Google is working on immortality.

Yes. This exactly.

I'm surprised that it took them so long, but it's inevitable, expect some major bank launching its blockchain within a couple of years.
I hope CoinoUSD will go down in history as one of the first attempts to connect Fiat to Crypto, though.

The ripple network offers the same thing, USD on a blockchain.  So this is already possible.

It's garbage though:

- Rippled loses sync many times per day.
- Currencies are issued and backed by a specific company.
- Snapswap (main USD issuer on Ripple network) just started charging for every transaction made using their currency, even directly between third parties.  Yes, the Ripple protocol supports such idiocy.

It's different b/c Ripple isn't USD.

The ripple network can be used to send any currency, not just the native xrp ripple currency.  That includes USD.  But as I said above, it's crap.

Yeah, but that's the difference as far as the public goes. Either it's USD or it isn't.

cRipple is shit. It is not Bitcoin and it is not fiat(USD, EUR).  ... and cripple network CAN NOT be used to send $1,000,000 USD

Does a Chinese company own IBM? Don't tell me China bans/unbans Bitcoin then a Chinese owned company is looking at adopting bitcoin technology.

http://en.wikipedia.org/wiki/Lenovo

Lenovo was founded in Beijing in 1984 as Legend and was incorporated in Hong Kong in 1988. Lenovo acquired IBM's personal computer business in 2005 and agreed to acquire its Intel-based server business in 2014.

edit]

Maybe they don't own IBM, just the personal computer business and Intel-based server business.

http://www.nasdaq.com/symbol/ibm/ownership-summary