Hal Finney's re-usable proof of work (RPOW) system preceded Bitcoin by many years and IMHO satisfied the technical requirements of being a viable digital currency, but failed on one of the "social" requirements: namely, RPOW needed -- but never got -- a way to persuade millions of ordinary people to take it seriously.
The way Bitcoin met that social requirement was to give early adopters a large financial incentive to promote Bitcoin. The hype around Bitcoin, in other words, in addition to setting off many bullshit detectors here on HN, greatly increased awareness of Bitcoin. And maybe that is the thing that will make Bitcoin more than just bullshit.
Since Hal's system provided no particular financial incentive to its early adopters, the RPOW server Hal designed and implemented sat on the internet for many years, waiting for a rising tide of transactions that never came.
The way Bitcoin met that social requirement was to give early adopters a large financial incentive to promote Bitcoin. The hype around Bitcoin, in other words, in addition to setting off many bullshit detectors here on HN, greatly increased awareness of Bitcoin. And maybe that is the thing that will make Bitcoin more than just bullshit.
Since Hal's system provided no particular financial incentive to its early adopters, the RPOW server Hal designed and implemented sat on the internet for many years, waiting for a rising tide of transactions that never came.
Nice try, Mr Hal Finney, esteemed hacker.