Bitcoin Forum
September 26, 2018, 07:59:07 AM *
News: ♦♦ New info! Bitcoin Core users absolutely must upgrade to previously-announced 0.16.3 [Torrent]. All Bitcoin users should temporarily trust confirmations slightly less. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Coinbase Wins Patent to Secure Bitcoin Payment System  (Read 40 times)
rosyantony
Newbie
*
Offline Offline

Activity: 70
Merit: 0


View Profile
August 18, 2018, 11:49:09 AM
 #1

Coinbase files patent to protect the bitcoin payments and make it more secure for customers. The patent also includes an API key allowing other firms to design more such payment networks.


https://coinpedia.org/news/coinbase-wins-patent-secure-bitcoin-payment-system/
1537948747
Hero Member
*
Offline Offline

Posts: 1537948747

View Profile Personal Message (Offline)

Ignore
1537948747
Reply with quote  #2

1537948747
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1537948747
Hero Member
*
Offline Offline

Posts: 1537948747

View Profile Personal Message (Offline)

Ignore
1537948747
Reply with quote  #2

1537948747
Report to moderator
rickadone
Legendary
*
Offline Offline

Activity: 1092
Merit: 1010



View Profile
August 18, 2018, 02:08:07 PM
 #2

Coinbase files patent to protect the bitcoin payments and make it more secure for customers. The patent also includes an API key allowing other firms to design more such payment networks.


https://coinpedia.org/news/coinbase-wins-patent-secure-bitcoin-payment-system/
Well this is another move by coinbase to get acquired. They are heavily working towards getting an exit strategy and finding a bigger company to overpay them. Facebook bought whatsapp for like 19 billion dollars, coinbase knows that and they are working for that. I know making money by millions every single day is amazing but having facebook buying your company for billions of dollars would result with huge amounts of money RIGHT NOW compared to making smaller amounts each day.

With that kind of exit they can start a huge ton of different new companies if they want to or just retire and relax for the rest of their lives. Look at the owners of whatsapp or instagram or even early facebook employees, they are living the life. Coinbase is just working towards getting bought out with these kinds of patents and moves.

.BITSLER.                 ▄███
               ▄████▀
             ▄████▀
           ▄████▀  ▄██▄
         ▄████▀    ▀████▄
       ▄████▀        ▀████▄
     ▄████▀            ▀████▄
   ▄████▀                ▀████▄
 ▄████▀ ▄████▄      ▄████▄ ▀████▄
█████   ██████      ██████   █████
 ▀████▄ ▀████▀      ▀████▀ ▄████▀
   ▀████▄                ▄████▀
     ▀████▄            ▄████▀
       ▀████▄        ▄████▀
         ▀████▄    ▄████▀
           ▀████▄▄████▀
             ▀██████▀
               ▀▀▀▀
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄             
▄▄▄▄▀▀▀▀    ▄▄█▄▄ ▀▀▄         
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄       
█  ▀▄▄  ▀█▀▀ ▄      ▀████   ▀▀▄   
█ █▄  ▀▄   ▀████       ▀▀ ▄██▄ ▀▀▄
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█  ▀▀       ▀▄▄ ▀████      ▄▄▄▀▀▀  █
█            ▄ ▀▄    ▄▄▄▀▀▀   ▄▄  █
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█ ▄▄   ███   ▀██  █           ▀▀  █ 
█ ███  ▀██       █        ▄▄      █ 
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀   
▀▄            █        ▀▀      █   
▀▀▄   ███▄  █   ▄▄          █   
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀     
▀▀▄   █   ▀▀▄▄▄▀▀▀         
▄▄▄▄▄▄▄▄▄▄▄█▄▄▀▀▀▀               
              ▄▄▄██████▄▄▄
          ▄▄████████████████▄▄
        ▄██████▀▀▀▀▀▀▀▀▀▀██████▄
▄     ▄█████▀             ▀█████▄
██▄▄ █████▀                ▀█████
 ████████            ▄██      █████
  ████████▄         ███▀       ████▄
  █████████▀▀     ▄███▀        █████
   █▀▀▀          █████         █████
     ▄▄▄         ████          █████
   █████          ▀▀           ████▀
    █████                     █████
     █████▄                 ▄█████
      ▀█████▄             ▄█████▀
        ▀██████▄▄▄▄▄▄▄▄▄▄██████▀
          ▀▀████████████████▀▀
              ▀▀▀██████▀▀▀
            ▄▄▄███████▄▄▄
         ▄█▀▀▀ ▄▄▄▄▄▄▄ ▀▀▀█▄
       █▀▀ ▄█████████████▄ ▀▀█
     █▀▀ ███████████████████ ▀▀█
    █▀ ███████████████████████ ▀█
   █▀ ███████████████▀▀ ███████ ▀█
 ▄█▀ ██████████████▀      ▀█████ ▀█▄
███ ███████████▀▀            ▀▀██ ███
███ ███████▀▀                     ███
███ ▀▀▀▀                          ███
▀██▄                             ▄██▀
  ▀█▄                            ▀▀
    █▄       █▄▄▄▄▄▄▄▄▄█
     █▄      ▀█████████▀
      ▀█▄      ▀▀▀▀▀▀▀
        ▀▀█▄▄  ▄▄▄
            ▀▀█████
[]
Awesomus Maximus
Member
**
Offline Offline

Activity: 196
Merit: 53


View Profile
August 18, 2018, 02:26:54 PM
 #3

I gave my best to understand what the heck they are talking about. Two master keys to sign transactions, API keys, ... All in all, I have no idea how they are gonna improve security for their customers, so I'll take their word for it. The other portals I checked also report more or less the same news, so it remains to be see how it all goes.

At the end of the day, I guess, it all revolves around the announced Facebook acquisition of Coinbase.
St4yInTh3D4rk
Sr. Member
****
Offline Offline

Activity: 490
Merit: 261


"STAY IN THE DARK"


View Profile
August 18, 2018, 02:51:01 PM
 #4

Coinbase files patent to protect the bitcoin payments and make it more secure for customers. The patent also includes an API key allowing other firms to design more such payment networks.


https://coinpedia.org/news/coinbase-wins-patent-secure-bitcoin-payment-system/
Well this is another move by coinbase to get acquired. They are heavily working towards getting an exit strategy and finding a bigger company to overpay them. Facebook bought whatsapp for like 19 billion dollars, coinbase knows that and they are working for that. I know making money by millions every single day is amazing but having facebook buying your company for billions of dollars would result with huge amounts of money RIGHT NOW compared to making smaller amounts each day.

With that kind of exit they can start a huge ton of different new companies if they want to or just retire and relax for the rest of their lives. Look at the owners of whatsapp or instagram or even early facebook employees, they are living the life. Coinbase is just working towards getting bought out with these kinds of patents and moves.
So they are going to sell the most reputed crypto exchange all around the world?

I don't think so because they know that they are in early stage even if they can sell their company they can make lot of money but why they need to sell already they are making lot of money and if they keep for few more years their value get multiplied many time from the current value.

bustadice         ▄▄████████████▄▄
     ▄▄████████▀▀▀▀████████▄▄
   ▄███████████    ███████████▄
  █████    ████▄▄▄▄████    █████
 ██████    ████████▀▀██    ██████
██████████████████   █████████████
█████████████████▌  ▐█████████████
███    ██████████   ███████    ███
███    ████████▀   ▐███████    ███
██████████████      ██████████████
██████████████      ██████████████
 ██████████████▄▄▄▄██████████████
  ▀████████████████████████████▀
                     ▄▄███████▄▄
                  ▄███████████████▄
   ███████████  ▄████▀▀       ▀▀████▄
               ████▀      ██     ▀████
 ███████████  ████        ██       ████
             ████         ██        ████
███████████  ████     ▄▄▄▄██        ████
             ████     ▀▀▀▀▀▀        ████
 ███████████  ████                 ████
               ████▄             ▄████
   ███████████  ▀████▄▄       ▄▄████▀
                  ▀███████████████▀
                     ▀▀███████▀▀
           ▄██▄
           ████
            ██
            ▀▀
 ▄██████████████████████▄
██████▀▀██████████▀▀██████
█████    ████████    █████
█████▄  ▄████████▄  ▄█████
██████████████████████████
██████████████████████████
    ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
    ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
       ████████████
[bustadice.
Play
bustadice]

Hero/Legendary
..bustadice..              ▄▄████████████▄▄
     ▄▄████████▀▀▀▀████████▄▄
   ▄███████████    ███████████▄
  █████    ████▄▄▄▄████    █████
 ██████    ████████▀▀██    ██████
██████████████████   █████████████
█████████████████▌  ▐█████████████
███    ██████████   ███████    ███
███    ████████▀   ▐███████    ███
██████████████      ██████████████
██████████████      ██████████████
 ██████████████▄▄▄▄██████████████
  ▀████████████████████████████▀
LeGaulois
Copper Member
Hero Member
*****
Offline Offline

Activity: 840
Merit: 857

Bitcoin Ninja Unregulated Banker Unbanking Folks


View Profile
August 18, 2018, 05:07:38 PM
 #5

Coinbase files patent to protect the bitcoin payments and make it more secure for customers. The patent also includes an API key allowing other firms to design more such payment networks.


https://coinpedia.org/news/coinbase-wins-patent-secure-bitcoin-payment-system/
Well this is another move by coinbase to get acquired. They are heavily working towards getting an exit strategy and finding a bigger company to overpay them. Facebook bought whatsapp for like 19 billion dollars, coinbase knows that and they are working for that. I know making money by millions every single day is amazing but having facebook buying your company for billions of dollars would result with huge amounts of money RIGHT NOW compared to making smaller amounts each day.

With that kind of exit they can start a huge ton of different new companies if they want to or just retire and relax for the rest of their lives. Look at the owners of whatsapp or instagram or even early facebook employees, they are living the life. Coinbase is just working towards getting bought out with these kinds of patents and moves.
So they are going to sell the most reputed crypto exchange all around the world?

I don't think so because they know that they are in early stage even if they can sell their company they can make lot of money but why they need to sell already they are making lot of money and if they keep for few more years their value get multiplied many time from the current value.

I will never be surprised in a day we read Coinbase get acquired in the future. Like @rickadone I also think the company is open to discussion.
Actually I can bet Coinbase will become a neo-bank in a near future with a banking license and then a banking corporation will buy it

hugeblack
Sr. Member
****
Offline Offline

Activity: 462
Merit: 347


Avatar 4 rent / Sig Designer https://goo.gl/34QBYf


View Profile WWW
August 18, 2018, 06:33:33 PM
 #6

They talked about users abandoning their private keys before starting to use the new system. They try to control more bitcoin "& bitcoin users" and then offer it to governments as before[1].

The patent cites the issue of customers being required to compromise on the security of their private keys

Also, this system is an update/gaming of the values, as all the currencies within it will be subject to coinbase admins.
We may also see the sale of fake coins just as happened with gold and dollar [bank loans].

[1] Coinbase tells 13,000 users their data will be sent to the IRS soon

They are heavily working towards getting an exit strategy and finding a bigger company to overpay them. Facebook bought whatsapp for like 19 billion dollars,
I think it's even bigger, there are those who help them to take over the market

btcblockchain
Newbie
*
Offline Offline

Activity: 238
Merit: 0


View Profile
August 18, 2018, 06:48:37 PM
 #7

its really great news for cryptocurrency industry this patent news will be next dimension for cryptocurrency growth
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!