Wall Observer

[Richy_T]

Had a dream last night of us shooting up through the 700s. I don't put any stock in dreams but I don't usually dream about Bitcoin either. Let's see what happens.

 

[79b79aa8]

@adamstgbit

you must admit, the quality of discussion at that other thread has deteriorated beyond recognition . . . get back over here in time for the next leg up!

 

[JimboToronto]

Good morning Bitcoinland.
Seems like yesterday's little dip was short-lived. Sideways around $540 for a while longer?

 

[hedgewizard]

Patent trolls or not, this is big

then maybe Alipay and Tencent will follow suit for asia, and afterward... moonrockets

 

[Bagatell]

@hedgewizard

I think of "embrace, extend, extinguish" whenever I see Bitcoin and the legacy debt crooks mentioned in one breath. I'm still betting that it's Bitcoin taking the active role.

 

[hedgewizard]

@Bagatell

extinguish... The Bitcoin Gospel, its the incumbents that need crypto to survive, not the other way around.

it will be extremely satisfying to see money widely separate itself from centralization

 

[Zangelbert Bingledack]

Price seems to want to follow the blue stripe, at least. We have a date with $600, for starters. (The next horizontal line above.)

 

[theZerg]

@hedgewizard companies patent things to stop the thing from being produced...

 

[hedgewizard]

@theZerg

I should have said, "here come the patent trolls"

decentralized services don't give a flying F about patents though

 

[Erdogan]

It may mean something to competing businesses, but we don't have to care.

 

[JayJuanGee]

It may mean something to competing businesses, but we don't have to care.

This patenting question seems to be in its very early stages, and it will be interesting to witness how the patenting issues play out over the next several years.. because it causes a few kinds of conflicting incentives.

Yes, hedgewizard is correct that the decentralized aspect of bitcoin could give a shit about patents; however, patents are going to affect various centralized systems that attempt to build upon bitcoin... causing incentives to be the first and to exclude others while at the same time potentially causing abilities for bigger capitalized companies (that build upon bitcoin technologies) to beat up upon smaller capitalized companies.

In some sense, the patenting of these matters and attempts at such patenting, may cause a lot more considerations regarding how to build decentralized systems on top of bitcoin... in other words, decentralized built upon decentralized.. and in that way, there would be no one to go after in terms of attempting to enforce patents (even though possibly some individuals or companies, to the extent that they can be identified as violating patents could still be harassed through lawsuits, etc).

On the other hand, some companies and individuals may identify some of the down the road problems associated with either being identifiable and taking other measures to minimize patent lawsuit risk, and even though the patenting infrastructure can seem as a kind of bitcoin downside, it does seems to be a fairly manageable risk, especially with some foresight regarding that risk.

 

[hedgewizard]

hows that working for hollywood?

 

[jbreher]

patents are going to affect various centralized systems that attempt to build upon bitcoin.

Which, of course, is one more reason to scale bitcoin _on_chain_ rather than push scaling off to centralized solutions such the the tiered hub & spoke model that LN will require.

 

[79b79aa8]

It may mean something to competing businesses, but we don't have to care.

we won't complain about the volume either.

 

[theZerg]

that patent looked to me like a bitcoin-enabled POS device. So you could certainly go after the mfg of a competiting device -- so the fear of that will stop other players from producing one.

Paypal already has paypal enabled POS devices in home depot for one. They are unlikely to swap them out to enable Bitcoin payments which will cannibalize their POS paypal sales.

 

[Bagatell]

So who's going to start /r/BitcoinPC?

A new forum for the politically correct and easily offended. You can say anything you like as long as you don't mention the BS.

 

[Erdogan]

@JayJuanGee

I agree with all you said. And the patent enthusiasts think patents do move the world forward, by allowing larger investment in research. Anyway, I think the impact will be quite small, maybe even the patent lawyers get an eureka moment while they work, so they buy some coins...

 

[Erdogan]

Every time I write something brilliant on this site, we have a leg up.

 

[Bagatell]

@Erdogan Write moar!

 

[79b79aa8]

touch $600 by monday? can't be . . .