Senior Intel Corp. Scientist Predicted Bitcoin In Cryptography Manifesto—In 1994

Monday, December 18, 2017
By Paul Martin

Bitcoin is one of the “sophisticated financial alternatives to the dollar” that was predicted in a 1994 manifesto from a senior Intel Corporation scientist.

By John Vibes
December 18, 2017

The world may never know the true identity (or identities) of Satoshi Nakamoto, the mysterious creator of Bitcoin, but the idea of cryptocurrency has actually been popular among crypto-anarchists and privacy experts for decades.

In fact, Timothy May, a senior scientist involved in the early years at the Intel corporation predicted the rise of cryptocurrencies in his 1994 manifesto “The Cyphernomicon.” In the book, May prophesized about “sophisticated financial alternatives to the dollar, various instruments, futures, forward contracts, etc.”

In chapter 16, May speaks of “Using software agents for money laundering and other illegal acts,” and goes on to say that:

These agents act as semi-autonomous programs that are a few steps beyond simple algorithms. Real use could be as “digital cutouts”: transferring wealth to other agents (also controlled from afar, like marionettes.) [The] advantage is that they can be programmed to perform operations that are perhaps illegal, but without traceability….The rise of AMIX-style information markets and Sterling-style “data havens” will provide new avenues for money laundering and asset-hiding. Information is intrinsically hard to value, hard to put a price tag on (it varies according to the needs of the buyers) meaning that transnational flows of information cannot be accurately valued (assigned a cash value.)

n the following section, “Private Currencies, Denationalization of Money,” May writes that “Lysander Spooner advocated these private currencies and ‘denationalization of money’ … Alternatives to normal currency already exist, coupons, frequent flier coupons, telephone cards and coupons (widely used in Asia and parts of Europe.) Ironically, U.S. had mostly opted for credit cards, which are fully traceable and offer minimal privacy, while other nations have embraced the anonymity of their kind of cards.”

The Rest…HERE

Leave a Reply

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter