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DeeSome (OP)
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December 10, 2013, 06:28:21 PM |
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Unlike traditional banking where clients have only a few account numbers, with Bitcoin people can create an unlimited number of accounts (addresses). This can be used to easily track payments, and it improves anonymity.
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zimmah
Legendary
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Activity: 1106
Merit: 1005
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December 10, 2013, 06:30:36 PM |
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Yeah, like we want to use JPMs currency.
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TTBit
Legendary
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Activity: 1136
Merit: 1001
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December 10, 2013, 06:33:17 PM |
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Bring it
I wonder if the SEC or CFTC has anything to say about a private company issuing a currency...
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good judgment comes from experience, and experience comes from bad judgment
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Sam-Os
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Activity: 87
Merit: 11
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December 10, 2013, 06:39:43 PM |
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Oh God No..I just hope the people are smart enough to rid themselves of the banking scum.
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GiganticDays
Newbie
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Activity: 30
Merit: 0
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December 10, 2013, 07:07:54 PM |
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It's almost certainly an attempt to use patent law to stifle competition. They're running scared.
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JackH
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December 10, 2013, 07:26:37 PM |
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How is this different from what they already have? If its centralized it is THE SAME as before. If it is decentralized it is BITCOIN.
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<helo> funny that this proposal grows the maximum block size to 8GB, and is seen as a compromise
<helo> oh, you don't like a 20x increase? well how about 8192x increase?
<JackH> lmao
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QuestionAuthority
Legendary
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Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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December 10, 2013, 07:44:45 PM |
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Oh God No..I just hope the people are smart enough to rid themselves of the banking scum.
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. |
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coindice
Newbie
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Activity: 28
Merit: 0
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December 10, 2013, 08:04:39 PM |
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Is it going to have changing value? a maximum amount of units? Not really sure how a U.S. bank could issue a Bitcoin copy.
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bitpop
Legendary
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Activity: 2912
Merit: 1060
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December 10, 2013, 08:11:41 PM |
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We need their effort to legitimize crypto then just let them fail
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oxxymoronn
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Activity: 84
Merit: 10
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December 10, 2013, 08:13:31 PM |
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This is very much to be expected:) I believe that crypto currencies are a way for business's to do big business in the future. I truly believe that many corporations will jump on board and as soon as a couple of the big players join the party, the rest will follow. |
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freethink2013
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December 10, 2013, 08:14:19 PM |
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and when it goes wrong for them they'll hold the world hostage AGAIN
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Lauda
Legendary
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Activity: 2674
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Terminated.
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December 10, 2013, 08:16:13 PM |
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Centralization again.
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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oxxymoronn
Member
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Activity: 84
Merit: 10
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December 10, 2013, 08:28:02 PM |
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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.
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crazy_rabbit
Legendary
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Activity: 1204
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RUM AND CARROTS: A PIRATE LIFE FOR ME
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December 10, 2013, 08:43:31 PM |
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I would be more worried about them using it as a patent troll bludgeon against bitcoin companies.
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more or less retired.
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bitpop
Legendary
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Activity: 2912
Merit: 1060
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December 10, 2013, 08:59:24 PM |
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You can't patent prior art but they will screw us for things we haven't thought of yet
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DeeSome (OP)
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December 10, 2013, 11:21:46 PM |
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oxxymoronn
Member
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Activity: 84
Merit: 10
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December 11, 2013, 11:10:34 PM |
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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..
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Desensitizer
Newbie
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Activity: 42
Merit: 0
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December 12, 2013, 12:30:23 AM |
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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.
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Kouye
Sr. Member
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Activity: 336
Merit: 250
Cuddling, censored, unicorn-shaped troll.
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December 12, 2013, 12:48:37 AM |
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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... |
[OVER] RIDDLES 2nd edition --- this was claimed. Look out for 3rd edition! I won't ever ask for a loan nor offer any escrow service. If I do, please consider my account as hacked. |
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gogxmagog
Legendary
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Activity: 1456
Merit: 1010
Ad maiora!
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December 12, 2013, 01:01:14 AM |
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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.
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