Earlier Virtual Currency before Bitcoin?

voltesbit777

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Quote from: kirkey on August 02, 2017, 06:17:19 AM

Hello Guys,
Now I'm a newbie and trying to know what & why Bitcoin is, but
I just want to know if how many virtual currencies existed and had been circulated in the internet before Bitcoin?
Is Bitcoin was based on the earlier Crypto Currency if ever existed?
I haven't found an answer yet even I watched bunch videos from YouTube.

Talk to me, please...

I had no idea nor even think about that there is already a virtual currency before bitcoin appear or created. If ever there is the first crypto digital currency for sure it is not decentralize, because all I know was that Bitcoin is the first virtual currency which has been made by Satoshi Nakamoto were it is decentralized not centralize. It's the only things I know about in bitcoin.

Kakmakr

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M-Pesa (M for mobile, pesa is Swahili for money) is a mobile phone-based money transfer, financing and microfinancing service, launched in 2007 by Vodafone for Safaricom and Vodacom, the largest mobile network operators in Kenya and Tanzania.

M-Pesa is not a decentralized Crypto currency, but rather a virtual centralized payment method. It is very popular in Africa and BitPesa is based on Bitcoin. ^smile^

Kanapka

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All the monetary system is digital based today, either based on computer or immaterial things. Credit card and gift cards existed before Bitcoin.

But Bitcoin was the first to be decentralized in some sense.

spadormie

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Bitcoin is the first cryptocurrency that was made by Satoshi Nakamoto himself. And by means of the first cryptocurrency. It means that it is the number one cryptocurrency, and no other cryptocurrency ascended before it. I think after that there goes litecoin and after that there goes the ascension of other cryptocurrency that we can see right now. This is the crypto world.

krishnapramod

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Quote from: kirkey on August 02, 2017, 06:17:19 AM

Hello Guys,
Now I'm a newbie and trying to know what & why Bitcoin is, but
I just want to know if how many virtual currencies existed and had been circulated in the internet before Bitcoin?
Is Bitcoin was based on the earlier Crypto Currency if ever existed?
I haven't found an answer yet even I watched bunch videos from YouTube.

Talk to me, please...

There are two types of virtual/digital currencies, centralized and decentralized. The history of virtual centralized currencies goes back to 90s.

1. DigiCash - https://en.m.wikipedia.org/wiki/DigiCash

1. Beenz - https://en.m.wikipedia.org/wiki/Beenz.com

2. Flooz - https://en.m.wikipedia.org/wiki/Flooz.com

3. E-Gold - https://en.m.wikipedia.org/wiki/E-gold

If I am right B-money and Bit Gold proposals were based on cryptography, but DigiCash was the first virtual currency to use cryptography.

Bitcoin is the first decentralized digital currency.

Yakamoto

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Quote from: kirkey on August 02, 2017, 06:17:19 AM

Hello Guys,
Now I'm a newbie and trying to know what & why Bitcoin is, but
I just want to know if how many virtual currencies existed and had been circulated in the internet before Bitcoin?
Is Bitcoin was based on the earlier Crypto Currency if ever existed?
I haven't found an answer yet even I watched bunch videos from YouTube.

Talk to me, please...

There was one "crypto" I remember existing which was a centralized system and didn't work a lot like the blockchain aside from just having transactions conducted on a virtual token, and it was called BitGold if I remember correctly. Or maybe it was eCash. I really don't remember what it was branded as. But that is the closest as you can get to a "cryptocurrency" that came before Bitcoin, without actually referencing Bitcoin.

There was maybe one other digital currency that existed, but that was an even worse version of Bitcoin and whatever the other currency was.

Arkann

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Bitcoin is the first crypto currency and is rightly considered the leader of the crypto currency. All other crypto-currencies are called alternative, or altcoins, because they were extracted in addition to bitcoin. Now, they say, there are 1037 different crypto-currencies and their number is increasing. However, bitcoin is the first and the main one among them.

kirkey

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Quote from: Master_dandosha on August 02, 2017, 08:16:46 AM

Quote from: kirkey on August 02, 2017, 06:17:19 AM

Hello Guys,
Now I'm a newbie and trying to know what & why Bitcoin is, but
I just want to know if how many virtual currencies existed and had been circulated in the internet before Bitcoin?
Is Bitcoin was based on the earlier Crypto Currency if ever existed?
I haven't found an answer yet even I watched bunch videos from YouTube.

Talk to me, please...

long time ago when bitcoin appear as the first innovated Crpto project in the world many didn't understand that and some including me laugh loudly for seeing no future for those types of program . look at it now .

Pareho tayo Master, pero lesson na natin to. kapag may uusbong na mga bagong virtual techs di na natin dapat tawanan lalo na kung isa tayo sa mga mka benefit o kumita...

Master_dandosha

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Quote from: kirkey on August 02, 2017, 06:17:19 AM

Hello Guys,
Now I'm a newbie and trying to know what & why Bitcoin is, but
I just want to know if how many virtual currencies existed and had been circulated in the internet before Bitcoin?
Is Bitcoin was based on the earlier Crypto Currency if ever existed?
I haven't found an answer yet even I watched bunch videos from YouTube.

Talk to me, please...

long time ago when bitcoin appear as the first innovated Crpto project in the world many didn't understand that and some including me laugh loudly for seeing no future for those types of program . look at it now .

Russlenat

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Quote from: Fredomago on August 02, 2017, 07:26:36 AM

Quote from: galactica on August 02, 2017, 07:17:30 AM

Quote from: BingoDog on August 02, 2017, 07:08:02 AM

Bitcoin has started revolution of cryptocurrencies, it was first and the most sucessful so far. For any other cryptocurrency that would be hard to achieve. Part of the success is also the fact that was first, brand new and something that have never emerged before. To my opinion all other cryptocurrencies are just a pale copy of bitcoin and so far I don't see any other cryptocurrency with so huge potential.

I disagree, there are a few cryptos out there like Litecoin that have more advanced features compared to Bitcoin. Litecoin was the first to activate Segwit and has lower transaction fees and faster transfer times. However Bitcoin was the first and has that strong brand name behind it so in terms of prospects for mass adaption Bitcoin has better prospects than the other cryptos out there.

well in terms of mass adoptions bitcoin already gather a big audience so its really first on its kind crypto got recognize because of bitcoin and we won't
be able to see any crypto that will rise up from bitcoin in my own opinion though there's a lots of crypto who's trying to imitate bitcoin but failed
to exceed.

Yeah that's true! bitcoin is the top cryptocurrency for now but there are also more potential alt-coin in the market that maybe can pass bitcoin like etherium! more investor also invest not just bitcoin but also in alt-coin because they believe that this alt-coin will also compete in the market someday.

RVRovin

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dont think its likely,BTC was groundbreaking

danherbias07

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Quote from: Aur3 on August 02, 2017, 07:16:38 AM

Quote from: Mandoy on August 02, 2017, 06:33:14 AM

Quote from: kirkey on August 02, 2017, 06:17:19 AM

Hello Guys,
Now I'm a newbie and trying to know what & why Bitcoin is, but
I just want to know if how many virtual currencies existed and had been circulated in the internet before Bitcoin?
Is Bitcoin was based on the earlier Crypto Currency if ever existed?
I haven't found an answer yet even I watched bunch videos from YouTube.

Talk to me, please...

Bitcoin is the first cryptocurrency being made online. After bitcoin was created, it became the prototype cryptocurrency then it was followed by doge and litecoin. Later on in time many coins have been launched some were successful and some become shitcoins due to its failure. It is normal that you cannot see it in you tube since there are no cryptocurrency before bitcoin. Bitcoin was the first to use a whitepaper and blockchain. Due to its success, altcoins or alternative coins begun to sprout trying to copy bitcoin. If you are still willing to learn more about bitcoin and its history you can actually search it in google so you can see its timeline and how bitcoin evolved as time goes by.

On point. Bitcoin is the first crpytocurrency, indeed. Thanks to Satoshi Nakamoto! Bitcoin did what cash and credit cards can't do. It saves thousands of people from transfer delays, hours in line and unsecured transactions.

This is correct but also became the issue with bitcoin. It is mean for faster transaction but what is left is the secured one.
The past few months have been slow even if the payments are high enough for high priority to be confirmed. Good thing it came back to normal and hoping that will never happen again.
I think that says it all. Fast and secure.

Fredomago

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Quote from: galactica on August 02, 2017, 07:17:30 AM

Quote from: BingoDog on August 02, 2017, 07:08:02 AM

Bitcoin has started revolution of cryptocurrencies, it was first and the most sucessful so far. For any other cryptocurrency that would be hard to achieve. Part of the success is also the fact that was first, brand new and something that have never emerged before. To my opinion all other cryptocurrencies are just a pale copy of bitcoin and so far I don't see any other cryptocurrency with so huge potential.

I disagree, there are a few cryptos out there like Litecoin that have more advanced features compared to Bitcoin. Litecoin was the first to activate Segwit and has lower transaction fees and faster transfer times. However Bitcoin was the first and has that strong brand name behind it so in terms of prospects for mass adaption Bitcoin has better prospects than the other cryptos out there.

well in terms of mass adoptions bitcoin already gather a big audience so its really first on its kind crypto got recognize because of bitcoin and we won't
be able to see any crypto that will rise up from bitcoin in my own opinion though there's a lots of crypto who's trying to imitate bitcoin but failed
to exceed.

galactica

newbie

Activity: 28

Merit: 0

Quote from: BingoDog on August 02, 2017, 07:08:02 AM

Bitcoin has started revolution of cryptocurrencies, it was first and the most sucessful so far. For any other cryptocurrency that would be hard to achieve. Part of the success is also the fact that was first, brand new and something that have never emerged before. To my opinion all other cryptocurrencies are just a pale copy of bitcoin and so far I don't see any other cryptocurrency with so huge potential.

I disagree, there are a few cryptos out there like Litecoin that have more advanced features compared to Bitcoin. Litecoin was the first to activate Segwit and has lower transaction fees and faster transfer times. However Bitcoin was the first and has that strong brand name behind it so in terms of prospects for mass adaption Bitcoin has better prospects than the other cryptos out there.

Aur3

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Embrace change

Quote from: Mandoy on August 02, 2017, 06:33:14 AM

Quote from: kirkey on August 02, 2017, 06:17:19 AM

Hello Guys,
Now I'm a newbie and trying to know what & why Bitcoin is, but
I just want to know if how many virtual currencies existed and had been circulated in the internet before Bitcoin?
Is Bitcoin was based on the earlier Crypto Currency if ever existed?
I haven't found an answer yet even I watched bunch videos from YouTube.

Talk to me, please...

Bitcoin is the first cryptocurrency being made online. After bitcoin was created, it became the prototype cryptocurrency then it was followed by doge and litecoin. Later on in time many coins have been launched some were successful and some become shitcoins due to its failure. It is normal that you cannot see it in you tube since there are no cryptocurrency before bitcoin. Bitcoin was the first to use a whitepaper and blockchain. Due to its success, altcoins or alternative coins begun to sprout trying to copy bitcoin. If you are still willing to learn more about bitcoin and its history you can actually search it in google so you can see its timeline and how bitcoin evolved as time goes by.

On point. Bitcoin is the first crpytocurrency, indeed. Thanks to Satoshi Nakamoto! Bitcoin did what cash and credit cards can't do. It saves thousands of people from transfer delays, hours in line and unsecured transactions.

BingoDog

hero member

Activity: 658

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Bitcoin has started revolution of cryptocurrencies, it was first and the most sucessful so far. For any other cryptocurrency that would be hard to achieve. Part of the success is also the fact that was first, brand new and something that have never emerged before. To my opinion all other cryptocurrencies are just a pale copy of bitcoin and so far I don't see any other cryptocurrency with so huge potential.

kirkey

newbie

Activity: 28

Merit: 0

Quote from: European Central Bank on August 02, 2017, 06:38:58 AM

there've been many, digicash, ecash, egold, but the problem with every single one of them is they depended on a central figure to lord over it to keep it in check. they were all effectively entries on a ledger just like bank accounts or paypal accounts are.

bitcoin is the first that didn't require that which is why it's become such a huge deal. the predecessors central element went bankrupt or were shut down and that was that. that's impossible for bitcoin.

none of the forerunners were crypto currencies though.

Thank you for your good information.
There were too many virtual cash available to use for payments, remittances etc. since before and even today but the currency used is the same currency of the country under company circulation limit, unlike Bitcoin, I can't fully figure out where actually Bitcoin began, made, stored, circulate, going etc... right? This kind of information is beyond my knowledge and skills for now.
Thanks again.

kirkey

newbie

Activity: 28

Merit: 0

Quote from: Mandoy on August 02, 2017, 06:33:14 AM

Quote from: kirkey on August 02, 2017, 06:17:19 AM

Hello Guys,
Now I'm a newbie and trying to know what & why Bitcoin is, but
I just want to know if how many virtual currencies existed and had been circulated in the internet before Bitcoin?
Is Bitcoin was based on the earlier Crypto Currency if ever existed?
I haven't found an answer yet even I watched bunch videos from YouTube.

Talk to me, please...

Bitcoin is the first cryptocurrency being made online. After bitcoin was created, it became the prototype cryptocurrency then it was followed by doge and litecoin. Later on in time many coins have been launched some were successful and some become shitcoins due to its failure. It is normal that you cannot see it in you tube since there are no cryptocurrency before bitcoin. Bitcoin was the first to use a whitepaper and blockchain. Due to its success, altcoins or alternative coins begun to sprout trying to copy bitcoin. If you are still willing to learn more about bitcoin and its history you can actually search it in google so you can see its timeline and how bitcoin evolved as time goes by.

Thanks, now I see why Bitcoin is the first thing will came up to our minds when talking about virtual or crypto currencies...

European Central Bank

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there've been many, digicash, ecash, egold, but the problem with every single one of them is they depended on a central figure to lord over it to keep it in check. they were all effectively entries on a ledger just like bank accounts or paypal accounts are.

bitcoin is the first that didn't require that which is why it's become such a huge deal. the predecessors central element went bankrupt or were shut down and that was that. that's impossible for bitcoin.

none of the forerunners were crypto currencies though.

Mandoy

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Aurox

Quote from: kirkey on August 02, 2017, 06:17:19 AM

Hello Guys,
Now I'm a newbie and trying to know what & why Bitcoin is, but
I just want to know if how many virtual currencies existed and had been circulated in the internet before Bitcoin?
Is Bitcoin was based on the earlier Crypto Currency if ever existed?
I haven't found an answer yet even I watched bunch videos from YouTube.

Talk to me, please...

Bitcoin is the first cryptocurrency being made online. After bitcoin was created, it became the prototype cryptocurrency then it was followed by doge and litecoin. Later on in time many coins have been launched some were successful and some become shitcoins due to its failure. It is normal that you cannot see it in you tube since there are no cryptocurrency before bitcoin. Bitcoin was the first to use a whitepaper and blockchain. Due to its success, altcoins or alternative coins begun to sprout trying to copy bitcoin. If you are still willing to learn more about bitcoin and its history you can actually search it in google so you can see its timeline and how bitcoin evolved as time goes by.

Topic: Earlier Virtual Currency before Bitcoin? (Read 610 times)