Is JPM Preparing To Unveil Its Own Electronic Currency?

[Bitventurer]

Bring it

I wonder if the SEC or CFTC has anything to say about a private company issuing a currency...

mmm , are they saying anything to the FED ?

[DoubleMyCoins!]

So I'm reading their patent claim:

Imagine paying for some product in a transaction directly with the seller that doesn’t include a costly third-party fee or the revelation of a personal account number — the current components that comprise credit card and debit card purchases. Imagine this system with a “real-time digital exchange of value.” And imagine that you can archive all the transactions in a personal digital wallet, with its own “Internet Pay Anyone (IPA)” account and inherent safeguards built-in, something that you could call “Virtual Private Lockbox (VPL),” according to JPMorgan’s patent.

Imagine you can archive all transactions in a personal wallet, with its own Internet Pay Anyone account? That's BITCOIN! How could they get away with this?

[QuestionAuthority]

So I'm reading their patent claim:

Imagine paying for some product in a transaction directly with the seller that doesn’t include a costly third-party fee or the revelation of a personal account number — the current components that comprise credit card and debit card purchases. Imagine this system with a “real-time digital exchange of value.” And imagine that you can archive all the transactions in a personal digital wallet, with its own “Internet Pay Anyone (IPA)” account and inherent safeguards built-in, something that you could call “Virtual Private Lockbox (VPL),” according to JPMorgan’s patent.

Imagine you can archive all transactions in a personal wallet, with its own Internet Pay Anyone account? That's BITCOIN! How could they get away with this?

They can do it because the USA has no gravity. It just sucks so hard it keeps everybody down.

[DeeSome]

So I'm reading their patent claim:

Imagine paying for some product in a transaction directly with the seller that doesn’t include a costly third-party fee or the revelation of a personal account number — the current components that comprise credit card and debit card purchases. Imagine this system with a “real-time digital exchange of value.” And imagine that you can archive all the transactions in a personal digital wallet, with its own “Internet Pay Anyone (IPA)” account and inherent safeguards built-in, something that you could call “Virtual Private Lockbox (VPL),” according to JPMorgan’s patent.

Imagine you can archive all transactions in a personal wallet, with its own Internet Pay Anyone account? That's BITCOIN! How could they get away with this?

I did a bit of searching on the patent.
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

"Inventors:   O'Leary; Denis; (New York, NY) ; D'Agostino; Vincent; (New York, NY) ; Re; S. Richard; (Westfield, NJ) ; Burney; Jessica; (New York, NY) ; Hoffman; Adam; (New York, NY)"

Basically all the so-called inventors are nothing more than over-hyped salesmen.

Who's to say the actual inventor wasn't Satoshi and maybe he went rogue or possibly JPM just released it to let the Bitcoin community do all the hard work of getting it out into the open before they use patent laws to try and wipe it out and replace it with "backed" JPM-coin.
So many possibilities.

[DoubleMyCoins!]

So I'm reading their patent claim:

Imagine paying for some product in a transaction directly with the seller that doesn’t include a costly third-party fee or the revelation of a personal account number — the current components that comprise credit card and debit card purchases. Imagine this system with a “real-time digital exchange of value.” And imagine that you can archive all the transactions in a personal digital wallet, with its own “Internet Pay Anyone (IPA)” account and inherent safeguards built-in, something that you could call “Virtual Private Lockbox (VPL),” according to JPMorgan’s patent.

Imagine you can archive all transactions in a personal wallet, with its own Internet Pay Anyone account? That's BITCOIN! How could they get away with this?

I did a bit of searching on the patent.
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

"Inventors:   O'Leary; Denis; (New York, NY) ; D'Agostino; Vincent; (New York, NY) ; Re; S. Richard; (Westfield, NJ) ; Burney; Jessica; (New York, NY) ; Hoffman; Adam; (New York, NY)"

Basically all the so-called inventors are nothing more than over-hyped salesmen.

Who's to say the actual inventor wasn't Satoshi and maybe he went rogue or possibly JPM just released it to let the Bitcoin community do all the hard work of getting it out into the open before they use patent laws to try and wipe it out and replace it with "backed" JPM-coin.
So many possibilities.

My point is about what's called "prior art". In order to patent something it can't be something already used in the past. Bitcoin was obviously in wide use before JP Morgan got their creative brainstorm. I wonder if their deep pockets will buy automatic patent application approval...

[FandangledGizmo]

This is a real threat guys! JPM have such massive support among Milennials!

I guess we'll just have to hope against hope that #JPMCurrency won't be the roaring success #AskJPM was...

[DeeSome]

So I'm reading their patent claim:

Imagine paying for some product in a transaction directly with the seller that doesn’t include a costly third-party fee or the revelation of a personal account number — the current components that comprise credit card and debit card purchases. Imagine this system with a “real-time digital exchange of value.” And imagine that you can archive all the transactions in a personal digital wallet, with its own “Internet Pay Anyone (IPA)” account and inherent safeguards built-in, something that you could call “Virtual Private Lockbox (VPL),” according to JPMorgan’s patent.

Imagine you can archive all transactions in a personal wallet, with its own Internet Pay Anyone account? That's BITCOIN! How could they get away with this?

I did a bit of searching on the patent.
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

"Inventors:   O'Leary; Denis; (New York, NY) ; D'Agostino; Vincent; (New York, NY) ; Re; S. Richard; (Westfield, NJ) ; Burney; Jessica; (New York, NY) ; Hoffman; Adam; (New York, NY)"

Basically all the so-called inventors are nothing more than over-hyped salesmen.

Who's to say the actual inventor wasn't Satoshi and maybe he went rogue or possibly JPM just released it to let the Bitcoin community do all the hard work of getting it out into the open before they use patent laws to try and wipe it out and replace it with "backed" JPM-coin.
So many possibilities.

My point is about what's called "prior art". In order to patent something it can't be something already used in the past. Bitcoin was obviously in wide use before JP Morgan got their creative brainstorm. I wonder if their deep pockets will buy automatic patent application approval...

Look at the link, the patent was first filed in 1999 and granted in 2000 and 5 continuations up to the latest patent.

[pand70]

A centralized virtual currency would be completely irrelevant. I think the main advantage of Bitcoin is that it is decentralized.

Again, where all the Bitcointards are wrong.  You guys really do need to step out into real life every now and then.  Nobody gives a shit about Bitcoin 99% of the people ridicule it. They will happily accept US government coin because to them it's backed by something "credible" unlike Bitcoin in their minds. 

You need to realize this forum is the minority,  your merrits, your love,  your opinion is the complete opposite in the real world.

How about bitcoin's market value? The senate hearing? The questions in parliaments all over the world? The bank of china notice? Aren't those facts in the real world?

[cdog]

[polarhei]

JPM only introduces a mastered project due to the trading trend. Retail instead of bulk. The current model is bulk based in order to save cost if you purchase massive amount such as a hundred and twenty (10 dozens).

JPM is not providing his own electronic currency, just a low-commmion fee payment system like bitcoin.

[Bitcoinpro]

JPM only introduces a mastered project due to the trading trend. Retail instead of bulk. The current model is bulk based in order to save cost if you purchase massive amount such as a hundred and twenty (10 dozens).

JPM is not providing his own electronic currency, just a low-commmion fee payment system like bitcoin.

And its already been declared invalid and infringes on the commons rights of all Crypto currency users.