Why Cryptocurrencies Are A Misnomer
By Rick Gold on ALTCOIN MAGAZINE
All too often in 2019, people are talking about and quoting others concerning cryptocurrencies. Often, when you ask them “what’s a crypto currency” they will tell you “bitcoin” or “ethereum” or some other similar names. And therein, lies the problem.
From the late 1950s through the early 2000s, when cryptosystems were being discussed and written about by forward-thinking researchers and programmers, they were thinking and writing about, developing electronically programmed digital systems. A lot of 1s and Zeros to be more precise. And if you were to research and look back at the various individuals writing and speaking about cryptology, you would soon discover that these cryptologist's creations were all copyrighted because they were and are, the intellectual property of their authors and inventors.
However, in 2009, somehow this cryptology story suddenly changed. Satoshi Nakamoto developed an idea called Bitcoin: A Peer-to-Peer Electronic Cash System. This cryptographic system would enable individuals to use the internet for electronic peer-to-peer transactions (remember, a lot of 1s and Zeros) without relying on trust using proof-of-work to record a public history on a digital ledger known as a blockchain. Yes and truly, still a lot more 1s and Zeros to be even more precise, now. And yes protected by copyright, intellectual property, and our rights of free speech, privacy, and private property.
Yet today, with all the hot air floating around the internet … with people involved in crypto or government obscuring the true facts about digital cryptosystems, isn’t it time that we reclaimed the record concerning what these digital systems are actually called(hint again, a lot of digital 1s and Zeros)? I for one am truly so tired of the obfuscation by our government officials and their agencies and also the ignorance of a lot of others in the ever-growing online crypto spaces, who continually label these complex digital systems “cryptocurrencies!” Wake up! Wake up! You are being deceived!
Rick Gold @freegold
September 4, 2019
