Quote from: Vlad2Vlad on December 17, 2014, 11:18:17 PM

Quote from: bitgeek on December 17, 2014, 10:47:39 PM

Really? Paycoin theft? Nobody is stealing paycoin.

If they bacekd off, maybe they knew what they were doing wasn't completely legal. Roll Eyes

How can anybody involved with Bitcoin or crypto be so clueless as to what's about to happen here?

What happens to PayCoin will determine many other HUGE legal issues involving Bitcoin and the fate of many other alt coins, INCLUDING Bitcoin.

If Josh Garza gets his way then it will set a legal precedent allowing the likes of JP Morgan to be able to [in theory] buy the Bitcoin trademark from Karpeles and with that trademark launch their own Bitcoin and demand that the original Bitcoin be removed from all exchanges and sue anyone that uses that name unless it's for their bank controlled Bitcoin.

How does that sound right or fair to any sane logical person?

Why? Oh, because the original founder of Bitcoin, Satoshi, has abandoned the coin and those developing it now have no rights to it since it's not "their" coin and besides, JP Morgan owns the Bitcoin trademark which means they automatically own all the rights to Bitcoin itself.

Don't you people see what this case means and what a dangerous precedent it would set for Bitcoin and for all Crypto?

It would literally open up a legal loophole for the rich and powerful to hi-jack any coin by simply grabbing the trademark.

I'm not just fighting for my investment here or just for the PayCoin community - this fight is for everything Crypto Currencies stand for and if we don't stick together - the elites Satoshi was fighting against, the Status Quo, will deliver a death blow to Bitcoin and to all crypto currencies which will hurt all of us.

Stop being cowards and stand up and fight for what is right - fight the Status Quo who is blatantly trying to hi-jack this entire new industry, our industry, the people's industry.

Bitcoin is a trademark held by MtGox, on the dubious theory that "better they than someone else". There was some talk about them transferring this to the Foundation, but nothing came of it AFAIK.

So if the foundation still hasn't done anything about this, then shame on them. Bitcoin is then an asset in the bankrupt holdings of MtGox currently controlled by the courts of Japan.