wormbog (OP)
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November 12, 2013, 08:55:22 PM |
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The idea of a worldwide internet currency has been around for quite a while. In 1998, the management team from Beenz managed to raise over $100 million to create a new digital currency to challenge the world's major currencies. Despite well-funded marketing, technical, and legal teams, Beenz was defunct by 2001. http://en.wikipedia.org/wiki/Beenz.comWhy will bitcoin succeed when Beenz failed?
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Mike Christ
aka snapsunny
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November 12, 2013, 08:57:34 PM |
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Beenz.com was a web site that allowed consumers to earn beenz, a type of online currency, for performing activities such as visiting a web site, shopping online, or logging on through an Internet service provider. They had the wrong perspective; this isn't a currency, it's reward points. Also it was centralized Also It had a silly name.
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Gyrsur
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Bitcoin Legal Tender Countries: 2 of 206
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November 12, 2013, 09:00:09 PM |
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it was not swarm-driven.
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RodeoX
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The revolution will be monetized!
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November 12, 2013, 09:01:38 PM |
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Beenz.com was a web site that allowed consumers to earn beenz, a type of online currency, for performing activities such as visiting a web site, shopping online, or logging on through an Internet service provider. They had the wrong perspective; this isn't a currency, it's reward points. Also it was centralizedAlso It had a silly name. I will +1 this. Beenze were about as much like bitcoin as frequent flier miles. They were centralized, closed source, and open to any manipulation the authority wanted. They were not currency. They were crappy coupons.
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DiamondCardz
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November 12, 2013, 09:02:43 PM |
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It was like swagbucks. Comparing swagbucks to Bitcoin is extremely daft.
"global money that would challenge the world’s major currencies" "beenz management and its legal teams had to meet with finance ministers across Europe to assure them that Beenz would be categorized as virtual points"
Ridiculous.
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BA Computer Science, University of Oxford Dissertation was about threat modelling on distributed ledgers.
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Mike Christ
aka snapsunny
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November 12, 2013, 09:13:59 PM |
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See also
Internet currency InternetCash.com Bitcoin Flooz.com
What the fuck is this.
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Gyrsur
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Bitcoin Legal Tender Countries: 2 of 206
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November 12, 2013, 09:29:26 PM |
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See also
Internet currency InternetCash.com Bitcoin Flooz.com
What the fuck is this. The end??
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wormbog (OP)
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November 12, 2013, 09:35:39 PM |
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It was like swagbucks. Comparing swagbucks to Bitcoin is extremely daft.
"global money that would challenge the world’s major currencies" "beenz management and its legal teams had to meet with finance ministers across Europe to assure them that Beenz would be categorized as virtual points"
Ridiculous.
The centralization of Beenz is what killed it. They had to bend over backwards to try to keep the banks and governments happy. And while the banks initially seemed to be on board, mainly to keep from being called anti-competitive, they would never allow a system like Beenz to grow big enough to challenge their monopoly on money. From this history I predict: Banks and their allies will eventually declare war on Bitcoin, but it will not be an open declaration. With no central organization to attack, the war will rely on propaganda and ever-tightening regulation designed to stifle legitimate use. Bitcoin will enjoy varying levels of legality depending on the country it's used in. Eventually the population will reach critical mass of acceptance and vote to deregulate. OMG. Bitcoin isn't digital gold. Bitcoin is digital pot.
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Lauda
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Terminated.
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November 12, 2013, 09:44:04 PM |
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No wonder why it was Defunct 2001. The whole concept is crap.
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion)
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leoragraves666
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November 12, 2013, 09:45:43 PM |
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It was centralized and in 2001, it was too early for a digital currency.
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PC & Mac repairs
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qwertyGuy
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November 12, 2013, 09:53:11 PM |
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With no central organization to attack, the war will rely on propaganda and ever-tightening regulation designed to stifle legitimate use.
The attack already started with "science" papers describing "flaws" in Bitcoin like
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Mike Christ
aka snapsunny
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November 12, 2013, 09:54:00 PM |
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With no central organization to attack, the war will rely on propaganda and ever-tightening regulation designed to stifle legitimate use.
The attack already started with "science" papers describing "flaws" in Bitcoin like It's never as effective as cutting off the head
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Wardrick
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November 12, 2013, 10:13:05 PM |
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10 years ago people would of been like "Wtf is Bitcoin". 10 years ago people wouldn't of traded a piece of dust for a bitcoin.
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jerelimZ
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November 12, 2013, 10:20:04 PM |
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Peer to peer file sharing technology also know as BitTorrent was here already in 2001: http://en.wikipedia.org/wiki/BitTorrentSo there was chance for Bitcoin to start sonner, no doubt
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| TIDEX | ║ █ ║ | | ║ █ ║ | |
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Lauda
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November 12, 2013, 10:20:59 PM |
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10 years ago people would of been like "Wtf is Bitcoin". 10 years ago people wouldn't of traded a piece of dust for a bitcoin.
In 2023 you can look back at this thread.
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion)
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Wardrick
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November 12, 2013, 10:23:14 PM |
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10 years ago people would of been like "Wtf is Bitcoin". 10 years ago people wouldn't of traded a piece of dust for a bitcoin.
In 2023 you can look back at this thread. BTC will either be in the $1000's by then, or it'll be worthless most likely.
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Lauda
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November 12, 2013, 10:46:33 PM |
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BTC will either be in the $1000's by then, or it'll be worthless most likely.
It will either be worth $100 000 then, or $50 000.
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion)
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Sythyn
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November 13, 2013, 01:35:08 AM |
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We need a better cryto currency... too many hacker going around Bitcoin, inputs......
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mrhelpful
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November 13, 2013, 01:46:48 AM |
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I would of said, your out of your mind. But you might be onto something lol.
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BTC_GHD
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November 13, 2013, 02:43:28 AM |
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I would say it being centralized was the problem
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