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Author Topic: What is Proof of Custody?  (Read 946 times)
BTCIndia
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October 01, 2014, 02:48:17 PM
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DigitalTangible has some "Proof of Custody" patent paneding related to Bitcoin and gold.

Press Release: http://www.businesswire.com/news/home/20141001005426/en/DigitalTangible-Launches-Physical-Gold-Bitcoin-Trading-Services#.VCwS_WeSwkU

Proof of Custody: https://www.digitaltangibletrust.com/proof-of-custody/

Blockscan: http://www.blockscan.com/assetinfo.aspx?q=GLDPAMPBARTEN


What is is exactly? And how does it matter?

He's Nick Sazbo from Washington. I've my answer. Or Hal? :O
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Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
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October 01, 2014, 03:38:38 PM
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DigitalTangible has some "Proof of Custody" patent paneding related to Bitcoin and gold.

Press Release: http://www.businesswire.com/news/home/20141001005426/en/DigitalTangible-Launches-Physical-Gold-Bitcoin-Trading-Services#.VCwS_WeSwkU

Proof of Custody: https://www.digitaltangibletrust.com/proof-of-custody/

Blockscan: http://www.blockscan.com/assetinfo.aspx?q=GLDPAMPBARTEN


What is is exactly? And how does it matter?

It doesn't matter. They are using daily ledgers to prove they have control over a physical asset which is really no proof at all. When a company wants to make it seem like they have this killer idea that's so wonderful it's sure to be stolen at any moment they use the marketing phrase "patent pending". That just means they applied for a patent. It does not mean the idea is great. I could apply for a patent on electric shoes that squirt anal lube that doesn't mean anyone will buy them.

seriouscoin
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October 01, 2014, 03:56:36 PM
 #3

DigitalTangible has some "Proof of Custody" patent paneding related to Bitcoin and gold.

Press Release: http://www.businesswire.com/news/home/20141001005426/en/DigitalTangible-Launches-Physical-Gold-Bitcoin-Trading-Services#.VCwS_WeSwkU

Proof of Custody: https://www.digitaltangibletrust.com/proof-of-custody/

Blockscan: http://www.blockscan.com/assetinfo.aspx?q=GLDPAMPBARTEN


What is is exactly? And how does it matter?

It doesn't matter. They are using daily ledgers to prove they have control over a physical asset which is really no proof at all. When a company wants to make it seem like they have this killer idea that's so wonderful it's sure to be stolen at any moment they use the marketing phrase "patent pending". That just means they applied for a patent. It does not mean the idea is great. I could apply for a patent on electric shoes that squirt anal lube that doesn't mean anyone will buy them.

I will buy them, fantastic idea.

I always want to kick Josh's ass. With your shoes, my foot will go straight into his fcking anal!.
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October 01, 2014, 04:03:18 PM
 #4

DigitalTangible has some "Proof of Custody" patent paneding related to Bitcoin and gold.

Press Release: http://www.businesswire.com/news/home/20141001005426/en/DigitalTangible-Launches-Physical-Gold-Bitcoin-Trading-Services#.VCwS_WeSwkU

Proof of Custody: https://www.digitaltangibletrust.com/proof-of-custody/

Blockscan: http://www.blockscan.com/assetinfo.aspx?q=GLDPAMPBARTEN


What is is exactly? And how does it matter?

It doesn't matter. They are using daily ledgers to prove they have control over a physical asset which is really no proof at all. When a company wants to make it seem like they have this killer idea that's so wonderful it's sure to be stolen at any moment they use the marketing phrase "patent pending". That just means they applied for a patent. It does not mean the idea is great. I could apply for a patent on electric shoes that squirt anal lube that doesn't mean anyone will buy them.

I will buy them, fantastic idea.

I always want to kick Josh's ass. With your shoes, my foot will go straight into his fcking anal!.


I better get my patent application in right away.

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October 01, 2014, 04:05:29 PM
 #5

DigitalTangible has some "Proof of Custody" patent paneding related to Bitcoin and gold.

Press Release: http://www.businesswire.com/news/home/20141001005426/en/DigitalTangible-Launches-Physical-Gold-Bitcoin-Trading-Services#.VCwS_WeSwkU

Proof of Custody: https://www.digitaltangibletrust.com/proof-of-custody/

Blockscan: http://www.blockscan.com/assetinfo.aspx?q=GLDPAMPBARTEN


What is is exactly? And how does it matter?

It doesn't matter. They are using daily ledgers to prove they have control over a physical asset which is really no proof at all. ...

Amen. I think people who buy into this are crazy. They buy gold and receive promises. WTF?

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin in ICELAND - https://bitcointalk.org/index.php?topic=1610684
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October 01, 2014, 04:06:19 PM
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"Proof of custody" is someone certifying that they are holding your assets for you. In this case, International Depository Services of Delaware.

The assets back tokens on Counterparty that you can trade.

It is not really anything new. GLD works just like this except the tokens are called "shares" and they are traded on NYSE. It is also similar to E-gold and Liberty Dollar warehouse receipts, both of which were shut down by the U.S.

Buy bitcoins with cash from somebody near you: LocalBitcoins
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October 01, 2014, 04:49:37 PM
 #7

"Proof of Custody" is just another way to say "Proof of Ownership"

I didnt read any of this because No One can claim a patent on bitcoins its an open source situation thus we all own it.

As far as the electric shoes squirting anal lube this is a great idea, it can keep people from saying they got kicked in the ass with no lube HAHAHAHA.

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October 02, 2014, 06:20:32 AM
 #8

Thanks for detailed explanation!

He's Nick Sazbo from Washington. I've my answer. Or Hal? :O
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