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pbody (OP)
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December 11, 2013, 03:50:02 AM |
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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?
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"This isn't the kind of software where we can leave so many unresolved bugs that we need a tracker for them." -- Satoshi
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antimattercrusader
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December 11, 2013, 03:57:17 AM |
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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.
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BTC: 13WYhobWLHRMvBwXGq5ckEuUyuDPgMmHuK
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kjj
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December 11, 2013, 04:36:27 AM |
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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  (late 10s) ... |
17Np17BSrpnHCZ2pgtiMNnhjnsWJ2TMqq8
I routinely ignore posters with paid advertising in their sigs. You should too.
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TimOsman
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December 11, 2013, 04:42:24 AM |
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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.
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superduh
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December 11, 2013, 04:58:50 AM |
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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)
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ok
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traderCJ
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December 11, 2013, 05:06:28 AM |
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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?? |
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Dafar
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dafar consulting
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December 11, 2013, 05:24:45 AM |
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apparently this patent was filed in 1999.. it's not the same as bitcoins and it is still backed by a credit card
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Le Happy Merchant
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December 11, 2013, 05:25:48 AM |
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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 |
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RenegadeMind
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December 11, 2013, 08:18:37 AM |
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If it's from JPM, it must be creep-o-currency.  |
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NUFCrichard
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December 11, 2013, 08:28:10 AM |
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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.
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GigaCoin
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Giga
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December 11, 2013, 08:35:41 AM |
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I'm sure lot of big corporates are already at work creating their own crypto currencies.
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Lethn
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December 11, 2013, 08:37:52 AM |
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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.
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beetcoin
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December 11, 2013, 08:39:21 AM |
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maybe they're just trolling and JPM just stands for "just playing, man."  |
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mufa23
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I'd fight Gandhi.
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December 11, 2013, 08:44:44 AM |
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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!" |
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Honeypot
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December 11, 2013, 08:47:22 AM |
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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.
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juve4v
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December 11, 2013, 03:23:00 PM |
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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!
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PirateButtercup
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December 11, 2013, 10:05:38 PM |
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▶▶ UR TOKEN ◀◀ ═══━┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈━═══ ⓄⓄ UNIVERSAL RECOGNITION TOKEN ⓄⓄ █ █ █ |
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zimmah
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December 11, 2013, 10:59:05 PM |
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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 (late 10s) ... 10th patent: same thing, but interstellar 11th patent: same thing, but in the 4th dimension |
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