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After reading the article I learned that Beenz had a bit more capitalist greed to it than I thought at the time. It was never quite there yet, always chicken an

After reading the article I learned that Beenz had a bit more capitalist greed to it than I thought at the time. It was never quite there yet, always chicken and egg. I was notionally in favour of it but I was not an early adopter. Coverage in the press was generous but it did not seem they had fallen for the hype, there was something genuine about it. We also did not realise micropayments were not going to solve everything, eventually 'free' ads to stalk you everywhere became the 'solution'. If it was brought back today I would endorse it a lot more than those silly ponzi-coins that people get so excited about. I say ponzi-coins pejoratively for everything cryptocurrency related, and I do think that there does need to be some campaigning against them. A little bit of idle speculation here and there by people wanting to get rich with a bit of play money does encourage those people that skim off from the rest of society with their ponzi-coin scheming. Trade makes the world happen and makes us human rather than Neanderthals, they died out because they did not trade. Beenz may have had get rich quick dreams but the ethos was there, to enable publishers to get money for articles and for people to buy/sell stuff. The problem I am having with ponzi-coins is that there is none of that, not even a veneer of wanting to make the world a better place. An army of people now exist that just have nothing better to do than to make everyone else bag holders of their blockchain bamboozle voodoo and I think they need to have their oxygen supply cut off. Ponzi coins have done nothing for the public good. Does this make Visa/Mastercard and the banks 'better'? Nope, but just like Beenz was not the right solution neither are these ponzi coins.

ariehkovler 8y ago
> The problem I am having with ponzi-coins is that there is none of that, not even a veneer of wanting to make the world a better place. My experience with the Bitcoin community goes back to 2012-3, when they were very much Libertarian Utopians trying to make the world a better place (at least their concept of a better place!). Those people still exist, though they've been drowned out a bit by the "Lambo" goldrush types. Of course, the VAST majority of scamcoins are just about getting rich and have no idealists at all, just the conmen and the conned.

ariehkovler 8y ago

> The problem I am having with ponzi-coins is that there is none of that, not even a veneer of wanting to make the world a better place. My experience with the Bitcoin community goes back to 2012-3, when they were very much Libertarian Utopians trying to make the world a better place (at least their concept of a better place!). Those people still exist, though they've been drowned out a bit by the "Lambo" goldrush types. Of course, the VAST majority of scamcoins are just about getting rich and have no idealists at all, just the conmen and the conned.