Minds

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Minds
Minds logo.svg
Type of businessPrivate
Type of site
Social network service
HeadquartersWilton, Connecticut, US[1]
Key peopleBill Ottman, Founder & CEO
John Ottman, Co-Founder & Chairman
Mark Harding, Co-Founder & CTO
IndustryInternet
Employees11-50
Websitewww.minds.com
Alexa rankIncrease 4.4k (Aug 2017)[2]
RegistrationRequired to post, follow, or be followed; Anonymous registration allowed
Users1.25+ million registered (August 2018)[3][4][5]
105,000 (active, March 2018)[6]
LaunchedJune 2015

Minds is an open source and distributed social networking service, integrating the blockchain to reward the community with ERC-20 tokens for various contributions to the network.[4] Users can use their tokens to promote their content or to crowdfund and tip other users by subscribing to them monthly in exchange for exclusive content and services.

Minds describes itself as a "Crypto Social Network" that upholds "internet freedom".[7]

History[edit]

Minds was co-founded in 2011 by Bill Ottman and Mark Harding as an alternative to social networks such as Facebook, who they believe abuse digital rights.[6] It was also co-founded by John Ottman, Ian Crossland, and Jack Ottman.

Minds launched to the public in June 2015.[8]

In June 2017, the company raised over $1 million in the fastest equity-crowdfunded sale of all time.[9]

On March 28, 2018, Minds exited Beta and the Minds Crypto Social Network was launched on mobile devices and on the web.[10]

In October 2018, Minds raised $6 million in Series A funding from Medici Ventures, which is an Overstock.com subsidiary. Patrick M. Byrne, founder and CEO of Overstock.com, will join Minds’ board of directors.[11][12][13]

Media reception[edit]

Minds has been featured by Forbes, Business Insider and VentureBeat for its tools to combat the decline of organic reach through algorithm changes on Facebook, Google, and other major sites.[14][15]

When the network launched its Alpha mobile applications in 2015, the global decentralized hacktivist collective Anonymous showed initial support for privacy features.[16][17] Some have since expressed concern that other fringe groups could undermine the platform's ability to deliver accurate and curated content.[18]

The Observer, Barron’s, and Breitbart discussed the network’s dedication to free speech and community-participation.[19][20]

Cointelegraph, Cryptobriefing, Bitcoin Magazine and Hacked have covered Minds for its digital currency ecosystem.[21][22][23]

On June 5, 2018, ZDNet published an article about Minds focusing on their blockchain integration.[4]

A 30-year old Carbon County Lehighton, Pennsylvania neo-Nazi named Corbin Kauffman was arrested by the FBI for making threats of violence towards African-Americans, Jews and Muslims. Kauffman was a user of Minds.com under the alias "KingShekels" and posted antisemitic, anti-black, racist and Islamophobic comments including the desire to commit genocide and violence against certain groups such as "Murder your Local Juden" in hand-paint and an image of an AR-15 gun directed towards Jewish worshippers as well as vandalizing Chabad Jewish Center in Maryland including usage of the Nazi swastika, a cartoonish depiction of a Jew and an image of Adolf Hitler. Kauffman also praised the Christchurch mosque shootings in Christchurch, New Zealand and its perpetrator Australia-born Brenton Harrison Tarrant with his Twitter account "Warlord_shekels" having an image of one of his guns he used for the shootings.[24][25][26]

See also[edit]

References[edit]

  1. ^ "Company Overview of Minds, Inc". www.bloomberg.com. Retrieved January 29, 2019.
  2. ^ "Minds.com Site Info". Alexa Internet. Retrieved August 21, 2017.
  3. ^ "Overview-6thAugust2018.pdf" (PDF). Archived from the original (PDF) on August 11, 2018.
  4. ^ a b c Brown, Eileen (July 5, 2018). "Facebook competitor promises blockchain currency for social content creators". ZDNet. Retrieved July 11, 2018.
  5. ^ "Minds+Whitepaper+V0.1.pdf" (PDF). Archived from the original (PDF) on September 10, 2018.
  6. ^ a b "Minds aims to decentralize the social network". TechCrunch. Retrieved January 31, 2019.
  7. ^ Cooper, Daniel (April 20, 2018). "I believe in free speech, but Minds makes me queasy". Engadget. Archived from the original on April 20, 2018. Retrieved January 29, 2019.
  8. ^ "Anonymous is building a site to kill Facebook". The Independent. June 17, 2015. Retrieved December 22, 2018.
  9. ^ Lang, Melissa (July 17, 2017). "Done with Facebook, Twitter? User-owned social networks hear you". SF Chronicle. Retrieved April 12, 2018.
  10. ^ "Minds Emerges from Beta with World's First Crypto Social Network for Web, Android and iOS on Ethereum Testnet with White Paper | Markets Insider". markets.businessinsider.com. March 28, 2018. Retrieved January 29, 2019.
  11. ^ Biggs, John (October 27, 2018). "Minds, the blockchain-based social network, grabs a $6M Series A". TechCrunch. Retrieved November 17, 2018.
  12. ^ "Overstock.com Blockchain Subsidiary, Medici Ventures, Purchases Equity in Crypto Social Network, Minds". Seeking Alpha. October 22, 2018. Retrieved November 17, 2018.
  13. ^ "Minds Raises $6M in Series A Funding | FinSMEs". FinSMEs. October 22, 2018. Retrieved November 17, 2018.
  14. ^ Guerrini, Federico (June 15, 2015). "Struggling With Facebook Organic Reach Decline? Try This New Open Source Social Networking App". Forbes. Retrieved April 12, 2018.
  15. ^ Levine, Barry (June 15, 2015). "A social network called Minds has an answer to Facebook's strangling of organic posts". VentureBeat. Retrieved April 12, 2018.
  16. ^ Guthrie Weissman, Cale (June 15, 2015). "Anonymous is supporting a new privacy-focused social network that takes aim at Facebook's shady practices". Business Insider. Retrieved April 12, 2018.
  17. ^ Griffin, Andrew (June 15, 2015). "Super-private social network launched to take on Facebook with support of Anonymous". Independent. Retrieved April 12, 2018.
  18. ^ "I believe in free speech, but Minds makes me queasy". Engadget. Retrieved August 28, 2018.
  19. ^ Sainato, Michael (May 12, 2017). "Meet Facebook's New Open-Sourced, Encrypted Competitor, Minds". Observer. Retrieved April 12, 2018.
  20. ^ Swartz, Jon (February 12, 2018). "Facebook Haters Going to Hate – but What Will Investors Do?". Barron's. Retrieved April 12, 2018.
  21. ^ Smart, Evander (June 22, 2015). "Welcome to Minds: Like Facebook But without the Snooping". CoinTelegraph. Retrieved April 12, 2018.
  22. ^ Madore, P.H. (October 19, 2017). "Minds.Com Founder Bill Ottman On Minds Wire". Crypto Briefing. Retrieved April 12, 2018.
  23. ^ Madore, P.H. (July 19, 2015). "Minds.com Redefines Social Capital". Hacked. Retrieved April 12, 2018.
  24. ^ "Lehighton Man Charged With Racist Threats". United States Justice Department. April 12, 2019. Retrieved April 12, 2019.
  25. ^ "Pennsylvania White Supremacist Arrested After Posting Violent Threats and Images". Anti-Defamation League. April 12, 2019. Retrieved April 12, 2019.
  26. ^ "Lehighton man created image of himself pointing AR-15 at praying Jews, feds say". Lehigh Valley Live. April 12, 2019. Retrieved April 12, 2019.

External links[edit]