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Posted: 12/11/2013 12:04:17 PM EST
[Last Edit: 12/11/2013 12:04:31 PM EST by NagOrzo15-1]
Link Posted: 12/11/2013 1:01:10 PM EST
Looked pretty believable to me.
Link Posted: 12/11/2013 1:07:25 PM EST
their bankers...

they want a piece of the pie too.
Link Posted: 12/11/2013 1:07:54 PM EST
In before Neal Stephenson.
Link Posted: 12/11/2013 1:13:41 PM EST
In before pyramid scheme
Link Posted: 12/11/2013 1:14:37 PM EST
Wait, how is it anonymous if you are doing it online?
Link Posted: 12/11/2013 1:17:56 PM EST
I trust JPmorgan with money less than GD trusts the NSA with their porn stash.
Link Posted: 12/11/2013 1:21:09 PM EST
[Last Edit: 12/11/2013 1:22:46 PM EST by ar-jedi]
Originally Posted By NagOrzo15-1:
http://money.cnn.com/2013/12/10/technology/bitcoin-jpmorgan/
Un-fuggin-believable.
View Quote


the story on this is that it's complete bullshit.
it is apparently a false-flag ploy to garner attention to bitcoin, increasing demand for the cryptocurrency, and thus driving up the exchange rate.


http://www.businessinsider.com/debunking-jp-morgan-bitcoin-2013-12

You Should Probably Ignore That 'JP Morgan Bitcoin' Patent — It's Over A Decade Old

The FT's Tracy Alloway reports today that the U.S. Patent Office has published a filing from JP Morgan regarding a payment service that some have some are saying bares a striking resemblance to Bitcoin.

But the filing is actually a renewal of a patent first filed in 1999 — meaning it significantly predates that digital currency's breakout success.

But even if you were still inclined to dig into the patent itself, you'd discover that there are really very few similarities between Bitcoin and JP Morgan's system.


The system is basically a form of repackaging the electronic credits you already use to pay for stuff online. The only new wrinkle is a Payment Portal Processor that will be tied to a digital wallet that can hold your electronic credits. The "PPP," as its referred to in the patent, will be able to "store miles, coupons, sweepstakes or other marketing incentives associated with use of the accounts linked to the PPP." It will also "[enrich] the consumer e-commerce experience by eliminating the tedious process of tilling [sic] out lengthy payment and shipping fields as this is done automatically."

...

Bitcoin has a public record of all transactions that can be viewed on a site called Blockchain, JP Morgan's system contains no such provision.




View Quote


story continues at link above.

ar-jedi
Link Posted: 12/11/2013 1:24:56 PM EST
[Last Edit: 12/11/2013 1:33:09 PM EST by Strikeforces]
JP Morgan....fined over $400 million dollars in the US this year for manipulating power prices
Link Posted: 12/11/2013 1:26:59 PM EST
100% of the two men I know that work for JP Morgan are complete fucking retards with their own money.
Link Posted: 12/11/2013 1:31:54 PM EST
So soon their EBT system and bitcoins will be interconnected?
Link Posted: 12/11/2013 1:48:48 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By uxo2:
their bankers...

they want a piece of the pie too
.
View Quote


All I have been hearing on this board lately is how wonderful bitcoin is and how perfect the bitcoin system is. I still say the same thing that I have been saying since I heard whacko Clif High's presentation on bitcoin. If you think the Rothschilds and the other bankers who own us and our country "behind the scenes" are going to tolerate any serious competition to their federal reserve notes you are delusional.

The bankers will either capture the bitcoin process, figure out a way to destroy it or they will use their control of our political system to have it made illegal.

And no, I am not happy about them doing any of these things....... but wait and see.
Link Posted: 12/11/2013 1:56:06 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By ar-jedi:


the story on this is that it's complete bullshit.
it is apparently a false-flag ploy to garner attention to bitcoin, increasing demand for the cryptocurrency, and thus driving up the exchange rate.


http://www.businessinsider.com/debunking-jp-morgan-bitcoin-2013-12


story continues at link above.

ar-jedi
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Discussion ForumsJump to Quoted PostQuote History
Originally Posted By ar-jedi:
Originally Posted By NagOrzo15-1:
http://money.cnn.com/2013/12/10/technology/bitcoin-jpmorgan/
Un-fuggin-believable.


the story on this is that it's complete bullshit.
it is apparently a false-flag ploy to garner attention to bitcoin, increasing demand for the cryptocurrency, and thus driving up the exchange rate.


http://www.businessinsider.com/debunking-jp-morgan-bitcoin-2013-12

You Should Probably Ignore That 'JP Morgan Bitcoin' Patent — It's Over A Decade Old

The FT's Tracy Alloway reports today that the U.S. Patent Office has published a filing from JP Morgan regarding a payment service that some have some are saying bares a striking resemblance to Bitcoin.

But the filing is actually a renewal of a patent first filed in 1999 — meaning it significantly predates that digital currency's breakout success.

But even if you were still inclined to dig into the patent itself, you'd discover that there are really very few similarities between Bitcoin and JP Morgan's system.


The system is basically a form of repackaging the electronic credits you already use to pay for stuff online. The only new wrinkle is a Payment Portal Processor that will be tied to a digital wallet that can hold your electronic credits. The "PPP," as its referred to in the patent, will be able to "store miles, coupons, sweepstakes or other marketing incentives associated with use of the accounts linked to the PPP." It will also "[enrich] the consumer e-commerce experience by eliminating the tedious process of tilling [sic] out lengthy payment and shipping fields as this is done automatically."

...

Bitcoin has a public record of all transactions that can be viewed on a site called Blockchain, JP Morgan's system contains no such provision.


http://static1.businessinsider.com/image/52a787c4eab8ea5331ab7283-807-627/jpm%20digital%203.png



story continues at link above.

ar-jedi


A lot of people don't get the whole patent thing.

Go read about the NEWEGG case and the patent troll that holds the TQP patent. The thing is, JPM's structure does not have to be identical to bitcoin to fuck up bitcoin. JPM needs only to demonstrate that a crucial element of bitcoin, in the WAY some discreet (but essential) part of bitcoin operates, is covered by the patent.

Since the priority date goes to 1999, that will only give JPM the right to fight bitcoin by refusing to license the technology for a couple more years, but that's more than enough time to take bitcoin style things (including the block chain) and roll that into a BANK CONTROLLED ecurrency system (i.e., only banks allowed to process transactions on the blockchain) and substitute it in.

If the governments fear bitcoin (and I see a lot of evidence they do), then JPM can expect unreasonably enthusiastic cooperation from the government in enforcing the patent by corrupting bitcoin traffic, getting the fibbies out there hauling people into jail for operating the bit coin system, etc., etc. Bitcoin only works when there's a big pool of folks to process the transactions. And I have no doubt this is to try and put a chilling effect on that.

We'll have to wait and see.
Link Posted: 12/11/2013 2:00:18 PM EST
Meh.

Not interested.
Link Posted: 12/11/2013 2:05:26 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By centurion:


All I have been hearing on this board lately is how wonderful bitcoin is and how perfect the bitcoin system is. I still say the same thing that I have been saying since I heard whacko Clif High's presentation on bitcoin. If you think the Rothschilds and the other bankers who own us and our country "behind the scenes" are going to tolerate any serious competition to their federal reserve notes you are delusional.

The bankers will either capture the bitcoin process, figure out a way to destroy it or they will use their control of our political system to have it made illegal.

And no, I am not happy about them doing any of these things....... but wait and see.
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Discussion ForumsJump to Quoted PostQuote History
Originally Posted By centurion:
Originally Posted By uxo2:
their bankers...

they want a piece of the pie too
.


All I have been hearing on this board lately is how wonderful bitcoin is and how perfect the bitcoin system is. I still say the same thing that I have been saying since I heard whacko Clif High's presentation on bitcoin. If you think the Rothschilds and the other bankers who own us and our country "behind the scenes" are going to tolerate any serious competition to their federal reserve notes you are delusional.

The bankers will either capture the bitcoin process, figure out a way to destroy it or they will use their control of our political system to have it made illegal.

And no, I am not happy about them doing any of these things....... but wait and see.


+1

Same thing I said in the bitcoin thread. they will control bitcoin or destroy it. they will not allow any threat to their power/wealth/influence
Link Posted: 12/11/2013 2:06:02 PM EST
JP Morgan is pretty corrupt.
Link Posted: 12/11/2013 2:26:12 PM EST
[Last Edit: 12/11/2013 2:30:08 PM EST by yavorssj]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By uxo2:
their bankers...

they want a piece of the pie too.
View Quote


Just a piece?


Edit: Grammar Nazi here... It is actually they're or they are.
Link Posted: 12/11/2013 2:30:44 PM EST
Have those fucks ever heard of the term "prior art"?

Link Posted: 12/11/2013 2:33:49 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Cpt_Kirks:
Have those fucks ever heard of the term "prior art"?

View Quote

But the patent was files in 1999. A decade before bitcoin.
Link Posted: 12/11/2013 2:35:07 PM EST
Just another reason to stay away.
Link Posted: 12/11/2013 2:52:39 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By gribble:

But the patent was files in 1999. A decade before bitcoin.
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Discussion ForumsJump to Quoted PostQuote History
Originally Posted By gribble:
Originally Posted By Cpt_Kirks:
Have those fucks ever heard of the term "prior art"?


But the patent was files in 1999. A decade before bitcoin.


Then why are they trying to "amend" the patent?

I do not think they will like the results of trying this path. The wrath of a hell of a lot of crazy ass hackers will befall them.

Link Posted: 12/11/2013 5:36:49 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Cpt_Kirks:


Then why are they trying to "amend" the patent?

I do not think they will like the results of trying this path. The wrath of a hell of a lot of crazy ass hackers will befall them.

View Quote View All Quotes
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Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Cpt_Kirks:
Originally Posted By gribble:
Originally Posted By Cpt_Kirks:
Have those fucks ever heard of the term "prior art"?


But the patent was files in 1999. A decade before bitcoin.


Then why are they trying to "amend" the patent?

I do not think they will like the results of trying this path. The wrath of a hell of a lot of crazy ass hackers will befall them.



JPM's patent describes a payment system more like PayPal than Bitcoin.
in fact, JPM's patent has nothing to do with cryptocurrency -- at all.
this whole media operation was synthesized to "get the word out" on Bitcoin to more people, hopefully driving up demand on BTC, which in turn increases the "worth" of BTC against other staple currencies like the dollar, euro, yuan, or yen.

you can see how this approach benefits some people.

ar-jedi

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