J.P. Morgan’s Dimon “Bitcoin is a fraud”

J.P. Morgan’s Dimon “Bitcoin is a fraud”

J.P. Morgan

“Just recently news.Bitcoin.com reported on JP Morgan executive Jamie Dimon calling bitcoin a fraud and claiming he would fire any employee from his firm who traded the digital currency for being stupid” Now it seems JP Morgan has been caught red-handed purchasing a bunch of XBT shares, otherwise known as exchange-traded-notes, that track the price of Bitcoin. Also read: Bitcoin Proponents Respond to JP Morgan Executive’s Statements SOURCE LINK: https://news.bitcoin.com/after-the-boss-calls-bitcoin-a-fraud-jp-morgan-buys-the-dip/

So what does JP Morgan’s Dimon do next? he buys into the dip!

JP Morgan’s patent Internet of money Bitcoin applications

Author’s opinion on the main purpose of Bitcoin: How Bitcoin crypto-currencies will change the world — statistically — (opinion)

Every new Bitcoin meme creates more traditional currency to crypto-currency pairs — yes? Therefore… do the math ! FOREX volume is said to dwarf that of stock, bond exchanges daily… and why is it that regulators are not doing much regulating yet? In my opinion, the same players who own the traditional mainframe supercomputers also own controlling shares in the emerging crypto currencies — otherwise the new supercomputer like Bitcoin farms would have never been allowed to be installed in the first place Source Link: http://www.sawconcepts.com/index/id86.html

then there is NSA Contractor Edward Snowden’s take on Bitcoin:

Edward Snowden “Bitcoin by itself, is incomplete, flawed”

Edward Snowden on Bitcoin

Emmet says “can you say Bitcoin based commodity index?

Bitcoin Based Commodity Index

Emmet says “can you say commodity index?

Bitcoin Commodity Backed Currency

Here’s the thing… to have a Bitcoin index fund, you need a standard, shared, common metric and meme to meter the many different Bitcoin valuation strategies.. then, you have to be compliant with a 2014 Supreme Court decision Alice Corp Vs CLS Bank if you want to protect your common, shared, standard metric and meme — that needs a clock timing mechanism and a way to measure blocks given I.R.S. meme #1421 “purchasing Bitcoin is akin to purchasing property”… so, my (our) patent application is crazy until it’s not.

Above Graphic Source URL: http://www.sawconcepts.com/index/id4.html

USPTO 13/573,002 The Heart Beacon Cycle Time Space Meter — waiting for the Bitcoin Blockchain wars to begin…

Bitcoin blockchain blocks, agents, motes, bots, heartbeat, beacon are metaphors for intervals, time cycles available to process / not process SYNTAX. The internet is coded, programmed using time cycles to process instructions, commands etc. It follows that the key to achieving consistency, interoperability among myriad memes and establishing a consistent, systemic one world economic system of systems is to focus on two main common building blocks — time cycles and syntax. USPTO applications leading up to 13/573,002 establish these facts in my opinion.

Computer ASIC chips create time cycles to process syntax as instructions — period. See Supreme Court Alice Corp Vs CLS Bank “a claim may not be directed towards an abstract idea”. Alice Corp Vs CLS Bank would be turning internet and internet of money patent claims upside down — if industry started taking this precedent seriously which probably won’t happen until the Bitcoin Blockchain wars begin — in my opinion. Until then, you may want to be thinking about what physical meme you will select given physical is the opposite of abstract. Then again, the first filed physical meme isn’t as important as the most useful. The meme should have a clock convention as well as a method and means to measure and meter the Bitcoin Blockchain and therefore, survey points are necessary since the IRS has stated that Bitcoin is “akin to property” see IRS memo #1421

Syntax may be represented by </XML> {“JSON”or form fields ‘’FFIRN’s”, “FFUDNS” in structured military messaging where the form number and field position has significance in parsing, processing. The idea is to reuse the logic behind structured military messaging form field unit identifiers in commercial use cases. A method to convert syntax conventions among the myriad metaphors and memes — a Rosetta Stone syntax lexicon library is needed.

Cyclic updates of state meta data snapshots / heartbeat messages from micro-to macro (economic) cycles distributed among a system of systems is simply powerful and is key to forming the net Grail. The military adopted the policy of only sending changes or “heartbeat sync deltas” for the same reason the Bitcoin community must adopt the same paradigm. Sending the changes, not the entire document or the “sync delta’s” in military parlance conserves bandwidth and increases throughput. The military relies on “heartbeat” messages as do stock exchanges — I.e., FIX (“108”) heartbeat messages, First response, time sync systems etc, etc. The Internet is based on time cycles and (computer) syntax parsed / processed or not during finite time cycles. It requires a syntax library lexicon — a Rosetta Stone if you will.

Speaking of Dimon / Diamonds and Bitcoin internet of money patent applications… coincidentally….

Physical Baseball metaphor / meme — our patent attorney’s stipulation…. not ours by the way…

Here’s the other thing, use the terms “currency” “stocks” and “energy” in a patent application (USPTO 13/573,002) and just see what “crazy” things happen to your application — I double dog dare you!

JP Morgan to Tesla “where do I put the meter” — look what happened to Tesla…. Tesla wasn’t into currencies though… Thomas Edison and to a lesser extent Henry Ford were… Henry Ford also predicted Ethanol instead of leaded “looney” gas…. so what happened? Prohibition happened….. everything is manipulated by a few at the expense of the many

Energy Token based Economy

Both Tesla and Einstein seemed to agree on energy:

  • Tesla: “everywhere there is energy spinning”
  • Einstein: “everything is energy and that’s all there is to it”

Ergo, it’s time for an energy token / commodity index based economy using the firefly-heartbeat algorithm to periodically sample item prices supporting Economist Milton Friedman’s K % rule: http://sawconcepts.com/index/id16.html

Socrates / Buckminster Fuller “the secret to change is to focus your energy on building a new model that makes the old model obsolete”

Secret to Change is build a new model RBF see http://sawconcepts.com/id56.html

Simple Always Wins (eventually) (if standing on the shoulders of giants)

Heart Beacon Cycle checklist items to help DAO’s achieve consensus, synergy, synchronization across time — space
Contact slide / standing on the shoulders of giants…