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THE FIRST SHITCOIN Beenz was a virtual currency that was launched in 1998. It was created by Charles Cohen and was intended to encourage online spending and brand loyalty. Beenz could be earned by completing online activities, such as signing up for websites, and could be used as currency by participating traders. Cohen's goal was to eventually allow consumers to buy Beenz directly from the company and for the "beenz economy" to resemble a real economy. However, Beenz was discontinued in 2001 after the company decided to wind down the Beenz economy and halt trading
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