--On 18 August 2001 08:05 -0700 Jeff Fitzmyers <[EMAIL PROTECTED]> wrote:
>> I believe DBC keeps failing because it's not convenient enough and the
>> expenditure of time and concentration are higher than just paying the 5%
>> credit card fees.
>
> I think Beenz and Flooze (Digital Based Currencies) failed because they
> are not a direct money for goods or money for service. I think the net
> inherently supports systems that are deflationary and peer to peer. So
> middle men are squeezed out by definition.
the main problems with them from my POV was that they weren't real
currencies. Flooz was an online gift certificate scheme, and Beenz was a
shopping incentive scheme. Didn't matter how many times Beenz said they
were a "web currency" for the sake of the business plan and the marketing,
they were still just incentive points.
and the fact that they weren't backed by anything is going to cause a lot
of pain for people still holding them.
> Also, Beenz never did answer my questions on how they set the value of 1
> Beenz, and when/how it might change.
1 cent when a merchant bought them from Beenz to distribute to their
customers.
0.5 cent when the merchant sold them back to Beenz after collecting them
from customers.
nice spread!
Rachel
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