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Author Topic: A page from the book "The Sovereign Individual", 1998  (Read 286 times)
Wind_FURY (OP)
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July 30, 2019, 05:35:09 AM
Merited by DdmrDdmr (1)
 #1

It's so uncanny how accurate this describes Bitcoin before Bitcoin was invented. Lucky for us, that future is today, and there's no other way to win the game, but to play. Buy Bitcoin!


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7788bitcoin
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July 30, 2019, 05:58:49 AM
 #2

It's so uncanny how accurate this describes Bitcoin before Bitcoin was invented. Lucky for us, that future is today, and there's no other way to win the game, but to play. Buy Bitcoin!
If this passage is taken from a book from 1998 it looks impressive as they explain everything what bitcoin is but the only thing that is not mentioned is that the money would be decentralized, other than that it is accurate to the word, the idea of digital money has its roots from the early 1990s but double spending was the issue everyone was trying to solve and the brilliant Satoshi solved that in the form of blockchain.
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July 30, 2019, 02:27:37 PM
Last edit: July 30, 2019, 02:42:59 PM by avikz
 #3

The book was actually published in 1997 and not 1998. At first place, I was not surprised when I started reading about the cyber money because people were expecting such changes from the beginning of the internet era.

But I am shocked when I landed to the second paragraph. I am surprised how accurately it talks about the structure of today's cryptocurrencies and the borderless crypto exchanges! Very very surprising indeed!

Edit- the timing was typo error. I tried to say 1997, but typed incorrectly! Sorry about that!

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July 30, 2019, 02:35:34 PM
 #4

Bizarre that this was coauthored by William Rees-Mogg, the type of geezer who you'd expect to have cobwebs in his y fronts.

The book was actually published in 2007 and not 2008.

It came out in 1997.

https://www.theguardian.com/books/2018/nov/09/mystic-mogg-jacob-rees-mogg-willam-predicts-brexit-plans

'For 380 breathless pages, Lord Rees-Mogg and a co-author, James Dale Davidson, an American investment guru and conservative propagandist, predicted that digital technology would make the world hugely more competitive, unequal and unstable. Societies would splinter. Taxes would be evaded. Government would gradually wither away. “By 2010 or thereabouts,” they wrote, welfare states “will simply become unfinanceable”. In such a harsh world, only the most talented, self-reliant, technologically adept person – “the sovereign individual” – would thrive.'

The timing isn't A1 but it's certainly ringing a few bells.
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July 30, 2019, 03:02:41 PM
 #5

It's so uncanny how accurate this describes Bitcoin before Bitcoin was invented. Lucky for us, that future is today, and there's no other way to win the game, but to play. Buy Bitcoin!

I can't (easily) display images anymore, besides something like this deserves a proper quotation, which falls under fair use:

Quote from: The Sovereign Individual
Paper money is a distinctly industrial product. It would have been impractical before the printing press to duplicate receipts or certificates that became paper currency. Certainly, monks in the scriptoria would not have spent their time well drawing fifty-pound notes. Paper money also contributed significantly to the power of the state, not only by generating profits from depreciating the currency, but by giving the state leverage over who could accumulate wealth. As Abu-Lughod put it, "when paper money backed by the state become the approved currency, the chances for amassing capital in opposition to or independent of the whole machinery became difficult."

Cybercash

Now the advent of the Information Age implies another revolution in the character of money. As cybercommerce begins, it will lead inevitably to cybermoney. This new form of money will reset the odds, reducing the capacity of the world's nation-states to determine who becomes a Sovereign Individual. A crucial part of this change will come about because of the effect of information technology in liberating the holders of wealth from expropriation through inflation. 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 multihundred-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 multitrillion-dollar wholesale market without borders.

Dialing Without Dollars

Inevitably, this new cybermoney will be denationalized. When Sovereign Individuals can deal across borders in a realm with no physical reality, they will no longer need to tolerate the long-rehearsed practice of government degrading the value of money through inflation...

Yes the last part was getting good, too bad the picture is incomplete. The current generation is probably unfamiliar with the term "dialing", which used to be synonymous of internet access in the late 90ies.

Incidentally in the 90ies i did my first international purchase from an internet shop (some bookstore from the university of California) using someone else's credit card (with permission, of course). Back then there were no security codes...

Around those days also came the famous Paypal application, which allowed sending money via email from Palm devices (current generation won't know about those PDA thingies that predate smartphones either). Couple of decades later and one (of two) guys that came up with that is sending electric cars to Mars lol.

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July 30, 2019, 03:13:39 PM
 #6

If this had been told the big banks, they would have laugh it off, today the odds are with them, they have been trying to suppress it but they really can't do much to further suppress the truth. While speaking with some economics in my church about how bitcoin will imminently replace our national fiat in terms of e-transactions they said that is never going to happen. 

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July 31, 2019, 07:10:11 AM
 #7

The book was actually published in 1997 and not 1998. At first place, I was not surprised when I started reading about the cyber money because people were expecting such changes from the beginning of the internet era.

But I am shocked when I landed to the second paragraph. I am surprised how accurately it talks about the structure of today's cryptocurrencies and the borderless crypto exchanges! Very very surprising indeed!

Edit- the timing was typo error. I tried to say 1997, but typed incorrectly! Sorry about that!

Plus here's the exciting statement that we have yet to see, "It will be tradeable in a keystroke in a multi-trillion dollar wholesale market".

Find one cryptocurrency that's most possible to lead in the multi-trillion dollar market.

Buy the? Cool


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avikz
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July 31, 2019, 07:42:48 AM
 #8

The book was actually published in 1997 and not 1998. At first place, I was not surprised when I started reading about the cyber money because people were expecting such changes from the beginning of the internet era.

But I am shocked when I landed to the second paragraph. I am surprised how accurately it talks about the structure of today's cryptocurrencies and the borderless crypto exchanges! Very very surprising indeed!

Edit- the timing was typo error. I tried to say 1997, but typed incorrectly! Sorry about that!

Plus here's the exciting statement that we have yet to see, "It will be tradeable in a keystroke in a multi-trillion dollar wholesale market".

Find one cryptocurrency that's most possible to lead in the multi-trillion dollar market.

Buy the? Cool


Absolutely! I meant the whole 2nd paragraph is shockingly similar to the cryptos that we have now! After yesterday, I started reading this book and another striking comment I read just below the chapter you highlighted! It says,

Quote
The Transaction Cost of "Free" Currency:
 Use of this new cybermoney will substantially free you from the power of the state.

Bitcoin maximalists always want this to happen and that is the main reason why majority of the nations are thinking to put strict regulations around cryptos while the cryptos are born to be free from radical capitalism!

BTW, the entire book is a great read! un-put-down-able is the perfect statement!

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July 31, 2019, 09:04:49 AM
 #9

Bizarre that this was coauthored by William Rees-Mogg, the type of geezer who you'd expect to have cobwebs in his y fronts.

I suspect that these characters are not unhappy to cultivate this kind of softened image, it deflects from their family origins: gangsters of various types from various eras in British history


The anti-establishment press are not unhappy to help them either, British satirical newspaper "Private Eye" often published derisive articles referring to Rees-Mogg (and in turn to the book in the OP) as "Mystic Mogg"

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July 31, 2019, 10:38:03 AM
 #10

I just picked the book after I read several passages about it and what was highlighted here in this post is eerily similar to what bitcoin is. This might fall under the long line of conspiracies but it perfectly describes bitcoin and what it is today, so could it mean that James Dale Davidson, alongside William Rees-Mogg are some of the inspirations of Satoshi in creating bitcoin, or could they be part of the alias 'Satoshi' themselves? But anyways, we all know that the transition towards digitization is bound to happen anyways, with or without bitcoin. Then again, those words on that book perfectly envisioned what we are reaping right now so technically we have some form of prophecies fulfilled from that book alone--hit rate better than any Tommy Lee predictions lol.

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Wind_FURY (OP)
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August 03, 2019, 10:24:06 AM
Merited by Carlton Banks (2)
 #11

I just picked the book after I read several passages about it and what was highlighted here in this post is eerily similar to what bitcoin is. This might fall under the long line of conspiracies but it perfectly describes bitcoin and what it is today, so could it mean that James Dale Davidson, alongside William Rees-Mogg are some of the inspirations of Satoshi in creating bitcoin, or could they be part of the alias 'Satoshi' themselves? But anyways, we all know that the transition towards digitization is bound to happen anyways, with or without bitcoin. Then again, those words on that book perfectly envisioned what we are reaping right now so technically we have some form of prophecies fulfilled from that book alone--hit rate better than any Tommy Lee predictions lol.


It means that "cryptocurrency" is a natural progression in the evolution of "money" in the information age. People before Satoshi saw it. There were already some cryptographers/developers making attempts to buidl it. But only Satoshi was brilliant enough to find the solution to the Byzantine General's Problem.

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