300 sats \ 0 replies \ @nullcount 3 Nov 2023
https://i.imgur.com/vKDBhN4.png
reply
184 sats \ 2 replies \ @DarthCoin 3 Nov 2023
I thought this was one of the @thebitcoinbugle news...
😂😂😂😂😂😂😂😂😂😂😂😂😂
reply
92 sats \ 0 replies \ @thebitcoinbugle 3 Nov 2023
Looks like an opportunity for a new story.
reply
0 sats \ 0 replies \ @kepford 6 Nov 2023
Same
reply
346 sats \ 0 replies \ @jennann 4 Nov 2023
-
Legal Position of the Federal Reserve: The Federal Reserve is within its rights to protect its trademarks. Trademarks are essential to preventing market confusion and preserving the goodwill of an entity's services. If Bitcoin Magazine's merchandise could be mistakenly affiliated with the Fed due to the use of the FEDNOW mark, this could present a legitimate case for trademark infringement. However, this is highly dependent on the actual design and context in which the FEDNOW mark is used—whether it is clearly parodic and thus could be protected under the First Amendment or whether it blurs the lines sufficiently to cause confusion.
-
Bitcoin Magazine's Defense: The stance taken by Bitcoin Magazine is bold and rooted in the principles of free speech, particularly highlighting the use of parody and social commentary, which are often protected under U.S. law. The First Amendment defense is compelling, especially if the publication can convincingly argue that its use of the FedNow imagery constitutes fair use for parody. Furthermore, the all-seeing eye and other parodic elements could strengthen their case, signaling to a reasonable observer that the merchandise is not a Federal Reserve-endorsed product.
-
Economic Commentary: The letter from Bitcoin Magazine to the Federal Reserve is laden with pointed criticism of the Fed's policies and the current state of the economy, which it ties to those policies. This form of critical speech is at the heart of what the First Amendment aims to protect. However, while this commentary is poignant and resonates with the sentiments of many in the Bitcoin community, it does not directly impact the legal merits of the trademark dispute but rather serves to garner public support and underscore the ideological differences between the magazine and the central bank.
-
Public Perception: Bitcoin Magazine's argument that no reasonable consumer would confuse their merchandise with official Federal Reserve merchandise has merit, particularly within the cryptocurrency community which is generally well-versed in the ethos and positions of publications like Bitcoin Magazine. The sarcasm and challenge to economic policy, while provocative, are part of a broader tradition of financial institutions being subject to critique and satire.
-
Potential Outcomes: The outcome of this legal dispute will hinge on the specifics of how the trademark is used. If the use is clearly satirical and cannot reasonably be interpreted as suggesting an official connection or endorsement, Bitcoin Magazine's position will be stronger. Conversely, if the Federal Reserve can demonstrate that the use of their trademark could cause confusion among the public, particularly those less familiar with Bitcoin Magazine's stance, they could compel the magazine to cease using their imagery.
reply
10 sats \ 0 replies \ @SpaceHodler 3 Nov 2023
https://image.nostr.build/556848befb49e367e054d4cf31587ee9f00ac3aff3150ab18e4ae7fb2240fee4.jpg
reply
11 sats \ 1 reply \ @anon 3 Nov 2023
Company violates registered trademark to sell merch for profit then cries about being sued. Big nothing burger. Another example of paranoid new age Bitcoiners trying to find a way to be the victim.
reply
10 sats \ 0 replies \ @petertodd 3 Nov 2023
You are allowed to use registered trademarks in parody. Trademarks only protect against fraud intending to confuse consumers. Parody is not that.
reply
31 sats \ 1 reply \ @nullcount 3 Nov 2023
So every pleb running a webstore with shirts, you know what your next design should be! Let's see how many cease and desist letters the FED can issue!
reply
42 sats \ 0 replies \ @TheWildHustle 3 Nov 2023
Getting a cease and desist from the federal reserve is obviously a badge of honor for any bitcoiner.........Dam now I gotta make some anti fed merch.
reply
33 sats \ 0 replies \ @Atreus 3 Nov 2023
tempted to buy BTC Mag merch for the first time in his life 🤔
reply
10 sats \ 0 replies \ @DarthCoin 3 Nov 2023
https://www.thebitcoinbugle.com/federal-reserve-hires-barbara-streisand-as-brand-manager/
reply
10 sats \ 0 replies \ @Wumbo 3 Nov 2023
Two quotes come to mind:
-
"You know you're over the target when you start taking flack."
-
"Never argue with someone who buys ink by the barrel"
reply
10 sats \ 1 reply \ @PRA3S3NT1A 3 Nov 2023
They are playing with fire
reply
0 sats \ 0 replies \ @BitByBit21 3 Nov 2023
You mean the Fed?
reply
10 sats \ 0 replies \ @joyepzion 3 Nov 2023
I haven't read any of the parodies of FedNow but I know Bitcoin Magazine really did do it justice for the Federal Reserve to be coming for them.
reply
11 sats \ 0 replies \ @BitByBit21 3 Nov 2023
"Doing your Christmas shopping early, you love to see it! Let us know if we can send a box of merchandise to any of the 12 Federal Reserve Banks". LMFAO 🤣
reply
10 sats \ 0 replies \ @rleed 3 Nov 2023
In Australia, "FedNow" would have just closed "BitcoinMagazine's" bank account. No joke:
https://sputnikglobe.com/20230905/australia-compromised-by-national-bank-rule-closing-accounts-for-speech-violations-1113137309.html
reply
1 sat \ 0 replies \ @BTC_DCAGUY_SIIM 4 Nov 2023
Any outcome is good for Bitcoin
reply
1 sat \ 0 replies \ @ryu 3 Nov 2023
"Bitcoin" Magazine is shit, but the government is shittier.
I hope they both implode.
reply
1 sat \ 0 replies \ @BITC0IN 3 Nov 2023
They deserve each other.
reply
0 sats \ 1 reply \ @SatoshiNakanodo 4 Nov 2023
I don’t understand why a government entity is allowed to trademark or copyright anything. Regardless of how they view themselves, the Federal Reserve was created by Congress and all of their “intellectual property” should be in the public domain.
reply
0 sats \ 0 replies \ @TNStacker OP 4 Nov 2023
Because we are the government and we are here to protect our, we mean your, property.
reply
0 sats \ 0 replies \ @2bithits 4 Nov 2023
When I saw the title I thought it was a bitcoinbungle parody
reply
0 sats \ 0 replies \ @orthwyrm 4 Nov 2023
I gotta admit, that's a beautiful retort.
reply
0 sats \ 0 replies \ @TwoLargePizzas 4 Nov 2023
I hope this backfires on them and makes the meme spread even faster.
FedNow
instant surveillance
reply
0 sats \ 0 replies \ @jinformatique 3 Nov 2023
That's real men standing up for themselves. I mean Bitcoin Magazine of course.
reply
0 sats \ 0 replies \ @lonestarr 3 Nov 2023
This is hilarious!!! "mislead readers into believing a connection exists between the publication and the central bank". Who in there right mind would EVER think Bitcoin Magazine is tied to ANY central bank. Wow, just wow.
It makes for great press for Bitcoin Magazine. The trolling seems to be working.
reply