Tag Archives: JP Morgan

JPMorgan’s “Bitcoin-Alternative” Patent Rejected (175 Times)

So… if bitcoin is a bubble or ponzi scheme then why is JP Morgan trying so desperately to patent it’s own version of it? To add fodder to the conspiracy canon… if bitcoin is part of a Hegelian dialectic, that is to say if the bankers themselves surreptitiously created it to then have it take over as the “one world currency”, then why did they do such a bad job of protecting their interests? Bitcoin is open source and cannot be patented. So maybe the “bitcoiners” are bang on! More from Tyler Durden of Zero Hedge:

Earlier in the week, we detailed JPMorgan’s attempt to create their own “web cash” alternative to Bitcoin (and Sberbank’s talk of doing the same). However, as M-Cam details, following the failure of the first 154 ‘claims’, JPMorgan issued a further 20 claims – which were summarily rejected (making JPMorgan 0-175 for approved claims). As they note, The United States Patent & Trademark Office (USPTO)’s handling of applications like JPMorgan’s ‘984 application (“Bitcoin Alternative”) highlights the need to fix a broken system – patent applications of existing inventions need to be finally rejected and not be resurrected as zombies (no matter how powerful the claimant). Full story here

Yes I hold and mine bitcoin. I also sell my art for bitcoin. The above article is one of the many reasons I do so.