Coinbase Patents

[danielW]

Cross post from reddit. https://www.reddit.com/r/Bitcoin/comments/4tpf9i/coinbase_patents/

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I think Blockstream have recently done the right thing by the Bitcoin community with their legally binding patent pledge.

https://www.blockstream.com/about/patent_pledge/
https://blockstream.com/2016/07/19/blockstream-defensive-patent-strategy/

Blockstream developers have been creating amazing open source technological innovations that will be free to use by anybody without fear of patent suits, as much as is legally possible.
 

I believe Bitcoiners should expect and demand similar legally binding pledges from all bitcoin companies.

Specifically Coinbase is one of the biggest Bitcoin companies that has recently applied for many patents such ‘hot bitcoin wallet’ and ‘an instant exchange’.

Obviously this is worrying, and while Coinbase said it intends to use them defensively this is not legally binding and just a promise that can be broken. All we have is their CEO’s word and if Coinbase gets acquired we do not even have that. https://medium.com/the-coinbase-blog/how-we-think-about-patents-at-coinbase-26d82b68e7db#.w3uxykl07

It would be great for Coinbase representatives to comment on when they will be making a similar pledge and if not, why.

Also if any readers agree please share on various social media, I hope this kind of pledge can be a standard in Bitcoin.

[mrblockchain]

Coinbase has a lot of VC backed money behind them. Not surprised they haven't made a similar pledge as Blockstream.

[danielW]

I just want them to respond so the community knows where they stand. Will they be making a similar pledge or no?

If no then I believe the community deserves to know. They applied for very broad patents like 'hot wallet'.

Saying 'we will consider it' and then doing nothing is not good enough.

[groll]

Cross post from reddit. https://www.reddit.com/r/Bitcoin/comments/4tpf9i/coinbase_patents/

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I think Blockstream have recently done the right thing by the Bitcoin community with their legally binding patent pledge.

https://www.blockstream.com/about/patent_pledge/
https://blockstream.com/2016/07/19/blockstream-defensive-patent-strategy/

Blockstream developers have been creating amazing open source technological innovations that will be free to use by anybody without fear of patent suits, as much as is legally possible.
 

I believe Bitcoiners should expect and demand similar legally binding pledges from all bitcoin companies.

Specifically Coinbase is one of the biggest Bitcoin companies that has recently applied for many patents such ‘hot bitcoin wallet’ and ‘an instant exchange’.

Obviously this is worrying, and while Coinbase said it intends to use them defensively this is not legally binding and just a promise that can be broken. All we have is their CEO’s word and if Coinbase gets acquired we do not even have that. https://medium.com/the-coinbase-blog/how-we-think-about-patents-at-coinbase-26d82b68e7db#.w3uxykl07

It would be great for Coinbase representatives to comment on when they will be making a similar pledge and if not, why.

Also if any readers agree please share on various social media, I hope this kind of pledge can be a standard in Bitcoin.

Having a patent pledge is a nice news that comes to my eyes as i read it. It simply means that having a patent pledge is in support to the bitcoin users. We do actually benefit from this events. Not only they are treating bitcoin seriously but they are also taking into serious consideration the welfare of their clients who use their wallets online.

[Kakmakr]

Obviously this is worrying, and while Coinbase said it intends to use them defensively this is not legally binding and just a promise that can be broken. All we have is their CEO’s word and if Coinbase gets acquired we do not even have that. https://medium.com/the-coinbase-blog/how-we-think-about-patents-at-coinbase-26d82b68e7db#.w3uxykl07

It would not be legally binding, but if they broke that pledge, it would put a huge dent in their reputation and they will lose a lot of users and a lot of business. I know a lot of people left them already, because they force down strict regulations on the ToS with AML and KYC regulations.

It is also rumored that they are passing on user information to the governments, which is obvious when you have to adhere to these regulations. ^hmmmmm^

[danielW]

Obviously this is worrying, and while Coinbase said it intends to use them defensively this is not legally binding and just a promise that can be broken. All we have is their CEO’s word and if Coinbase gets acquired we do not even have that. https://medium.com/the-coinbase-blog/how-we-think-about-patents-at-coinbase-26d82b68e7db#.w3uxykl07

It would not be legally binding, but if they broke that pledge, it would put a huge dent in their reputation and they will lose a lot of users and a lot of business. I know a lot of people left them already, because they force down strict regulations on the ToS with AML and KYC regulations.

It is also rumored that they are passing on user information to the governments, which is obvious when you have to adhere to these regulations. ^hmmmmm^

To my understanding a pledge such as the one by Blockstream is legally binding.

[gmaxwell]

To my understanding a pledge such as the one by Blockstream is legally binding.

Correct. And in addition to the pledge we have the DPL and MIPA which are two additional distinctive ways that users get protective coverage. These provide additional assurance in case of any limitation or issue with the pledge (and vice versa).  (MIPA is kind of narrow: it says the inventors are also able to grant licenses for defensive use)

[danielW]

Also I want to say I am not necessarily against companies having or even using patents for real innovation (Blockstream is possibly going beyond the call of duty in that regard).

Coinbase did not invent hot wallets however. If they are going attempt to patent things like that and justify to us as defensive then we should expect them to make a similar pledge.

[pereira4]

Something is clear, Blockstream is people you can trust, these guys have demonstrated time after time that they support privacy and censorship resistant software and a decentralized network, but Coinbase has been ruining people's day for a long time now.

[GermanGiant]

To my understanding a pledge such as the one by Blockstream is legally binding.

Correct. And in addition to the pledge we have the DPL and MIPA which are two additional distinctive ways that users get protective coverage. These provide additional assurance in case of any limitation or issue with the pledge (and vice versa).  (MIPA is kind of narrow: it says the inventors are also able to grant licenses for defensive use)

I saw some of you are against AsicBoost's patent. Will u support it if they make a similar pledge like BlockStream ?

[cryptodevil]

To my understanding a pledge such as the one by Blockstream is legally binding.

Correct. And in addition to the pledge we have the DPL and MIPA which are two additional distinctive ways that users get protective coverage. These provide additional assurance in case of any limitation or issue with the pledge (and vice versa).  (MIPA is kind of narrow: it says the inventors are also able to grant licenses for defensive use)

I saw some of you are against AsicBoost's patent. Will u support it if they make a similar pledge like BlockStream ?

^^^ Warning!
This user is simply a shill account for the
'cloud mining' ponzi scam he promotes in
his signature.


Nothing that is open-source can then be patented as it is already public knowledge. So if they are developing entirely new tech for commercial gain then it is up to them if they want to monetise their IP.

[raphma]

^^^ Warning!
This user is simply a shill account for the
'cloud mining' ponzi scam he promotes in
his signature.

but he didnt say nothing about the ponzi scheme 

@topic
What coinbase is doing is great, but i dont expect other companies to do the same... a few services are open source because they intent to make money offering support. That support, sometimes, isnt profitable.

[cryptodevil]

but he didnt say nothing about the ponzi scheme

He doesn't have to, it is in his signature advertising itself every post he makes which he intentionally seeks to do predominantly in areas of the forum which do not show his negative trust rating under his avatar.

He goes inactive for periods of time and then reappears to go on a posting spree to get his updated signature in a shedload of threads.

@topic
What coinbase is doing is great, but i dont expect other companies to do the same.

There is still a need for a certain amount of give and take from commercial players in this industry. Being too precious about the tech restricts its adoption.

[Anon_7716]

I just want them to respond so the community knows where they stand. Will they be making a similar pledge or no?

If no then I believe the community deserves to know. They applied for very broad patents like 'hot wallet'.

Saying 'we will consider it' and then doing nothing is not good enough.

I think it can be done by Coinbase in bitcoin already recognised by some countries, because I see the Bitcoin haven't gotten it and I think it will be very difficult to build a place to collect all the Data.