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Author Topic: [2018-08-17] Coinbase Files Patent for Direct Bitcoin Payments System  (Read 38 times)
BitcoinArsenal
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August 17, 2018, 04:56:43 PM
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Crypto exchange Coinbase recently filed for a patent detailing a new system to enable online users to make Bitcoin payments more securely. The patent, filed on August 14, will allow users to make payments directly from their Bitcoin wallet.

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August 18, 2018, 02:29:07 PM
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Coinbase tries hard to convert bitcoin into a central currency and then has control over it "Bitcoin Central Bank." Cheesy
After the possibility of using Bitcoin to buy gifts[1], now comes this system, I would like to quote this parts

The patent cites the issue of customers being required to compromise on the security of their own private keys
.
.
The system allows for administrators to freeze all processes using what is described as “freeze logic,” presumably in the event that a user reports that they are being hacked or their identity is being assumed

In short, the new system is similar to its trading platforms, perhaps the new system is preferred by governments.

[1] wegift coinbase giftcards

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August 19, 2018, 06:19:20 PM
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Coinbase tries hard to convert bitcoin into a central currency and then has control over it "Bitcoin Central Bank." Cheesy
After the possibility of using Bitcoin to buy gifts[1], now comes this system, I would like to quote this parts

The patent cites the issue of customers being required to compromise on the security of their own private keys
.
.
The system allows for administrators to freeze all processes using what is described as “freeze logic,” presumably in the event that a user reports that they are being hacked or their identity is being assumed

In short, the new system is similar to its trading platforms, perhaps the new system is preferred by governments.

[1] wegift coinbase giftcards
Companies like coinbase are neccessary for Bitcoins growth and adoption. Even though it's a contradictory point from the original idea Satoshi proposed, if you like seeing the price rise ever more, this is the only viable option.
    Exchanges like Coinbase are in fact centralized, without some centralization, the foundation would completely crumble. Order without freedom is tyranny and vice-versa, freedom without oder is anarchy.
  The problem was never about centralization, just a complicated struggle for balance.

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