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Bad News For Bitcoin

Discussion in 'Digital Currencies' started by searcher, Sep 22, 2015.



  1. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  2. skychief

    skychief enthusiastic stacker Silver Miner

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    B of A was wise to file for patent of Cryptocurrency Wire Transfer System.

    If the Bitcoin founder had any smarts, he would have done this years ago.
     
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  3. REO 54

    REO 54 Midas Member Midas Member

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    Maybe they couldn't, or wouldn't be allowed to or something. To fishy as to why a CB (central bank)gets and not the originators.

    More info needed....
     
  4. Mujahideen

    Mujahideen Black Member Midas Member

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    You can't stop the underground...
     
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  5. Buck

    Buck Fabian Society Gold Chaser

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    In this case, as long as there's an electrical power source, I agree, but pull the plug and it's game over with any digital currency
     
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  6. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    Well, since all the "good" news for bitcoin hasn't done shit for the price, maybe the "bad" news will.
     
  7. bb28

    bb28 Silver Member Silver Miner

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    I didn't read the patent app, but for the patent to be granted it has to be "new" art. If it is too similar to Bitcoin, the patent should not be allowed.

    bb
     
  8. Mujahideen

    Mujahideen Black Member Midas Member

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    Pull the plug and it's game over for a lot of shit, not just digital currency... But the underground will still exist.

    I question if the dollar would exist today with out the internet and electricity. There would be no bank wires, I don't think they have paper bonds anymore, and there is so much money I doubt they could keep track on paper. They would have to print up the $100,000 bills for the banks again. I suspect they would need bigger notes.
     
  9. mtnman

    mtnman Gold Member Gold Chaser Site Supporter

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    You can't stop the underground as long as there is CASH to fuel it.
     
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  10. Mujahideen

    Mujahideen Black Member Midas Member

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    Right... And new forms of "cash" will come about if there isn't one sufficient enough.
     
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  11. mtnman

    mtnman Gold Member Gold Chaser Site Supporter

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    And the new Cash won't be 1s and 0s, you'll be able to hold it in your hand.
     
  12. smartypants

    smartypants Seeker

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    Did not Microsoft try to make its own Internet?
     
  13. Ensoniq

    Ensoniq Midas Member Midas Member Site Supporter ++

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    It needs to be more than new it needs to be novel and not obvious. If it's just a variation of info already In the public domain it's not patentable. The fact that the original inventors dumped a bunch of what could have been kept as trade secrets into public - prevents others from patenting

    However, they recently changed thepatent process rules in a big way. It used to be "first to invent" now it's "first to file"

    I read the patent app and to me it seems like they are going for a broader target like a method of network security for all data. It could be trying to pull in Bitcoin by reference because they do claim things that seem to me (as a novice) to be how I perceive block chains work,

    I'm just not technical enough to conclude

    I do know this is just the publication. Most patent attorneys over claim and expect to lose bits during prosecution. This will be an interesting one to follow

    Wake me up in 5 years and we'll see how it turned out
     
  14. GOLDBRIX

    GOLDBRIX God,Donald Trump,most in GIM2 I Trust. OTHERS-meh Site Supporter Platinum Bling

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    KEY WORDS: should not

    1.Golden Rule - He who as the(paper) GOLD makes the rules.
    1b. Pay to make the Rules as you go as often as you can.

    Good Luck

     
  15. angryhippy

    angryhippy Seeker Seeker

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    Bad news for all banks... bitcoin and blockchain tech isn't going anywhere. Decentralized and global... eabod boa.
     
  16. Po'boy

    Po'boy Midas Member Midas Member Site Supporter

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    It sure as hell would have killed MERS.
     

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