Bitcoin Was Predicted in a Book Two Decades Ago

Bitcoin Was Predicted in a Book Two Decades Ago

“Soon, you will pay for almost any transaction over the Net or World Wide Web at the same time you place it, using cybercash. This new digital form of money is destined to play a pivotal role in cybercommerce. It will consist of encrypted sequences of multi-hundred-digit prime numbers. Unique, anonymous, and verifiable, this money will accommodate the largest transactions. It will also be divisible into the tiniest fraction of value. It will be tradable at a keystroke in a multi-trillion-dollar wholesale market without borders.”

This is a quote from the 1997 book, written by two men: a journalist, the BBC vice-chairman Lord William Rees-Mogg and a private investor and author James Dale Davidson. Twenty years ago the book “The Sovereign Individual: Mastering the Transition to the Information Age” (TSI) firstly came out, but who knew that what two authors predicted would become true in the form of cryptocurrency? Here are the most exciting facts about the book and its creators.

Our top trading bots

Who Are The All-Seeing Authors?

William Rees-Mogg

When the world saw TSI for the first time, Lord William Rees-Mogg turned 69 years old. During life (the author died three years ago at the age of 84), Rees-Mogg was an honorable journalist. He was an editor at the national newspaper The Times . And living in on the verge of two centuries, he always wrote by hand. It is also astounding how the man, who avoided driving a vehicle, managed to predict the biggest enigma in the realm of information technology.

James Dale Davidson

The co-author of TSI James Dale Davidson is, relatively, the opposite of Mr. Rees-Mogg. He is pretty younger than his colleague and is an American by origin. Being famous for forecasting the future of the US economics consecutively, he also predicted the devastating world’s crisis in 2008. Once, Davidson founded the National Taxpayers Union and is well-known as an economist, even though he has never taken any relative university degree. He made an acquaintance with Rees-Mogg some 20 years before they collaborated writing the foretelling book.

“Back to the Future”

TSI is a history book, concentrating on the developing future. The authors assured that the humanity was on the edge of the immense passage. Within the piece, they not only predicted influenced by encrypted technologies significant changes in the world’s system, which wallowed in the parasitical nature of governments but also coped to describe the new age money, giving precise details about its form and essence.

Besides claiming two decades ago that there would be denationalized cybermoney, the two authors also stated that:

“Each transaction will involve the transfer of encrypted multi-hundred-digit prime number sequences. Unlike the paper-money receipts issued by governments during the gold-standard era, which could be duplicated at will, the new digital gold standard or its barter equivalents will be almost impossible to counterfeit for the fundamental mathematical reason that it is all but impossible to unravel the product of multi-hundred-digit prime numbers. All receipts will be verifiably unique.”

It’s hard to believe, but bitcoin seems to be that cybermoney, which is described in the book of two intellectuals. Sure enough, not everything in the book is true about modern life, but it cannot be denied that there are some coincidences and the overwhelming ones.

Image Source: news.bitcoin.com

Beyond Bitcoin: The future of digital assets is bigger than the first crypto
While change is guaranteed, the scale and scope of that change are not. For the financial industry, blockchain — the technology that undergirds Bitcoin...
NFT sales and floor prices plummet as demand wanes and gas prices soar
The nonfungible token (NFT) sector has seen an explosion of interest all throughout 2021 and the month of August witnessed record-breaking trading volumes...
What form of digital assets will be the future of payments?
We’re living in a time where digital assets are moving towards mainstream adoption. From retail customers to traditional banks and financial service providers,...
Binance in the crosshairs: Are regulators paying attention to crypto?
Is Binance crypto’s new whipping boy? Regulators in the United States, the United Kingdom, Canada, Japan, Thailand and the Cayman Islands have all recently...
Blockchain not suitable for CBDC, says Swiss national bank economist
Blockchain, the underlying technology of cryptocurrencies like Bitcoin (BTC), is not the right solution for a central bank digital currency, according to...
'I have nothing': Imprisoned John McAfee claims his crypto fortune is gone
Software antivirus pioneer John McAfee has told his one million Twitter followers that his entire crypto fortune is gone — although he concedes not everyone...
MicroStrategy could hold more than $4B in Bitcoin after latest private offering and crypto purchase
Business intelligence company MicroStrategy has completed its $500 million offering of secured notes, and said it plans to use the proceeds to purchase...
Ripple publishes proposal for federated sidechains to keep main ledger lean
Ripple's developers have been engaging with feedback and suggestions that they expand the XRP Ledger, or XRPL, to integrate functionalities such as smart...
Korean gov’t clarifies crypto regulatory roles of different agencies
Over the past year or so, the crypto community in South Korea has had to adapt to a suite of new regulations and government frameworks tailored to the growing...
Nebraska bill to allow banks to offer crypto services moves forward
Nebraska lawmakers are moving forward with an initiative that would allow state banks to offer cryptocurrency services.State Senators favored the measure...
Bitcoin Slips as Altcoins Find Favor Amid Historic $2tn Milestone
By Yasin EbrahimInvesting.com – Bitcoin stuttered Tuesday, as the wave of new funds coming into the market that took the overall market cap above an unprecedented...
Thai crypto adoption is booming, with volume up 588% since November
Crypto adoption appears to be booming in Thailand, with the local Securities and Exchange Commission, or SEC, estimating domestic crypto volumes have increased...
Banning Bitcoin is like rejecting the US dollar, entrepreneur warns India
An Indian cryptocurrency ban would have grave implications for the future of the country’s economy, and would result in currency devaluation “of the worst...
JPMorgan CEO Jamie Dimon Calls Bitcoin a Scam, Again
Jamie Dimon, the top exec of the American investment bank JPMorgan Chase, remains one of the bitcoin bears. Last year he publicly called the “Big Daddy”...
BTC Survived Regulatory Tension, Hardening After a Week-Long Sinking
Last week was a week of turmoil for bitcoin as it went through the period of plunging from January 8 to January 11 but managed to somehow recover before...