BeeCoin is a cryptocurrency that I designed. It started as an idea, and then I designed the first version of it.
BeeCoin can be thought of as a digital native plant that grows from a seed into a forest.
First, BeeCoin organizes itself into blocks without any central authority, so it isn’t dependent on any government or bank to operate. It’s as decentralized as Bitcoin is.
BeeCoin also doesn’t need to rely on anyone else’s help to work. There are many ways to create currency, but you have to either wait for someone else to create money, or rely on them keeping their promises and following the rules they set up when they make the money. With BeeCoin, you don’t have to do either of those things: you can just create currency whenever you want, whether or not anyone else wants it.
BeeCoin also offers some useful features not found in any other cryptocurrency. Some people want privacy and anonymity, which Bitcoin does not offer (you can’t exchange bitcoins with each other secretly). For people who want security rather than anonymity/privacy, there’s BeeCoin’s built-in masternode capability for hosting secure servers for other people. And for people who want some level of censorship resistance–for example,
If you believe the world’s biggest problem is that people don’t have enough money, then bee cryptocurrency is for you. It is a new kind of currency.
The basic idea behind bee cryptocurrency is that it gives everyone an equal chance to be rewarded. If you make something valuable, everyone gets to share in the reward.
But there are two key differences between bee cryptocurrency and other currencies. The first is that there aren’t any central banks or other institutions with privileged access to the money supply; in fact, the opposite is true: anyone can make money. The second difference is that everyone who makes money gets to keep it; no one else can take it away.
If you think the world needs a better way of rewarding people for what they do, then bee cryptocurrency may be for you.
You might have heard that the Internet is a big public library: anyone can go there and read anything.
But if you want to understand what it’s like to live in a world of Internet libraries, you should consider bee cryptocurrency.
The Internet is a network of millions of computers, all linked together. Much of what happens on the Internet happens on computers owned by other people: companies and governments, for example. Some bits move within the network itself, but most travel between networks and across boundaries between networks.
Bee cryptocurrency is a way to get paid for moving bits over the border from network A to network B.
Bitcoin is not a bubble: it is a swarm of billions of dollars worth of real wealth. The web site where I write this is paid for by advertising, which in the US is subject to US tax. If I moved my money from the US to Switzerland, it would be taxed there but not in the US, and vice versa. So if you are interested in bitcoin because you think it will fail, you’re betting on a failure that will affect me—because we both play by the same rules.
I love bitcoin as much as anyone. But I also love my grandchildren and your children, and they don’t want to be poor when they grow up, so I hope you’ll take some time to think about how things like bitcoin might affect them.
In the small print of a recent newsletter, I was offered a guaranteed, guaranteed, guaranteed 300% profit in one month. The “guarantee” was diversification; the “profit” was not clear. The opportunity was there to pay no attention at all and just let my investments grow, but I didn’t want to miss out on that 300%.**
What I wanted more than anything else was not to fail myself again. To have had it with the constant confusion; to have had it with fear of failure; to have had it with being afraid of success.
I don’t know what sort of umbrella corporation my investment belongs to. It could be that every penny I make will go into some other company’s stock or bond or mutual fund whose shares are sold in different names and offer different returns but are all part of the same giant business operation whose objective is to make me richer and more helpless than I already am.*
I’m sure the author of this newsletter has done well by investing in his own piece of a giant business operation. That’s fine, and maybe even inevitable. But he doesn’t strike me as being so far ahead that he doesn’t need an assistant who can help him do his job better. Is there a place where you can invest
In any economy there is always money, and in any economy there is also information. For example, the New York Stock Exchange has thousands of people working for it. But the NYSE does not have thousands of people because it has thousands of employees. It has them because thousands of different places around the world are paid to host computers that run the exchange’s software.
These “hosts” are like bees in a hive: they take care of one particular aspect of the exchange’s business. The NYSE wants its hosts to provide a service called “market making.” Market making means that if you want to buy or sell shares, your broker will do it without re-trading each individual share, which would be expensive and inefficient. Rather, the NYSE’s market makers buy or sell in bulk – getting shares at a lower price than you paid, then selling them for a higher price – so as to make sure that you always get the best possible price for your shares.
That sounds simple enough, but that’s just one example of thousands used by businesses all over the world every day. The NYSE’s market makers are very good at what they do; they make money hand over fist by doing it really well. They are a key part of what makes the
Bitcoin is still new, and the price has been volatile. The long-term prospects for Bitcoin, as an instrument of exchange or a store of value, are unclear. But what is clear is that it has ushered in a new era in the evolution of money.
Bitcoin is a new kind of currency, and like all currencies it can be used to make payments. But unlike traditional currencies, Bitcoin has no central authority and therefore no way to be cheated. It is not backed by gold or silver or any other physical resource. Bitcoins exist only in cyberspace, and there are practically no limits on how many you can own. If you want to buy something with them, all you need to know is the Bitcoin address of the person or company you want to pay. Payments can be made without ever seeing the person who owns the Bitcoin wallets — without even knowing his name. You can use Bitcoins just like cash, but they are more abstract than cash: there is no coin here, no paper bills.
The software running the Bitcoin network keeps track of who owned each wallet at any given time, so users can always find out how many Bitcoins belong to them. (They also keep records of every transaction ever made using Bitcoins.) There is a fixed total number of Bitcoins that