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Bad News For Bitcoin

searcher

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#1

skychief

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#2
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.
 

REO 54

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#3
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.
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....
 

Mujahideen

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#4
You can't stop the underground...
 

gringott

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#6
Well, since all the "good" news for bitcoin hasn't done shit for the price, maybe the "bad" news will.
 

bb28

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#7
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
 

Mujahideen

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#8
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
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.
 

mtnman

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#9

Mujahideen

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#10
You can't stop the underground as long as there is CASH to fuel it.
Right... And new forms of "cash" will come about if there isn't one sufficient enough.
 

mtnman

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#11
Right... And new forms of "cash" will come about if there isn't one sufficient enough.
And the new Cash won't be 1s and 0s, you'll be able to hold it in your hand.
 

Ensoniq

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#13
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
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
 

GOLDBRIX

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#14
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

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
 

angryhippy

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#15
Bad news for all banks... bitcoin and blockchain tech isn't going anywhere. Decentralized and global... eabod boa.
 

Po'boy

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#16
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.
It sure as hell would have killed MERS.