Topic: The Chinese government could've created Bitcoin (Read 471 times)
It may be because China is a much developed country.
yeah, they could have but they didn't.
and that is all that matters. the governments aren't known to create things like this and let the public have it without taking the credit for it. specially since bitcoin is open source and is destructive to their governmental control and corruption. in other words you are saying that they created something that is disturbing their own behind the scene works! that doesn't sound right to me.
and that is all that matters. the governments aren't known to create things like this and let the public have it without taking the credit for it. specially since bitcoin is open source and is destructive to their governmental control and corruption. in other words you are saying that they created something that is disturbing their own behind the scene works! that doesn't sound right to me.
Anyone could have created bitcoin. An organization could have created it, a single person could have created it, no one knows.
You mentioned that there was an incentive for China to create bitcoin in order to replace or at least compete with the US dollar, but this is just completely false. Firstly, BTC would also be competing against their own fiat currency (the Yuan), so it makes no sense for them to create a decentralized alternative to replace potentially their own legal tender currency. Secondly, China still holds a ton of US dollars, and making it worthless makes no sense. Thirdly, it's just impractical to expect BTC to replace USD completely any time soon. And lastly, China has shown a tendency to be quite restrictive to bitcoin. Why would they do that if they created it?
It's complete, baseless speculation in my opinion. There is virtually no chance that what you argue is true. It could have been the case, but it's most likely not.
You mentioned that there was an incentive for China to create bitcoin in order to replace or at least compete with the US dollar, but this is just completely false. Firstly, BTC would also be competing against their own fiat currency (the Yuan), so it makes no sense for them to create a decentralized alternative to replace potentially their own legal tender currency. Secondly, China still holds a ton of US dollars, and making it worthless makes no sense. Thirdly, it's just impractical to expect BTC to replace USD completely any time soon. And lastly, China has shown a tendency to be quite restrictive to bitcoin. Why would they do that if they created it?
It's complete, baseless speculation in my opinion. There is virtually no chance that what you argue is true. It could have been the case, but it's most likely not.
SHA256 is NSA, ECDSA-secp256k1 is NSA , the odds of 'satoshi' putting in 100% NSA tools in his baby is zERO. Even most experts in crypto ( scientists ), are unaware that NSA created secp256k1 the prime-factor used by btc.
Mainly this was done, because NSA doens't do anything w/o a backdoor, but lucky for all of us, there are alt's that don't use NSA algo's, so the future is NOT btc.
It seems too legendary to be true. One Asian guy had enough foresight and technical capabilities to create the world's potential future universal currency?
Whoever created it had reason to replace with the dollar, as the dollar can almost be considered the world's universal fiat currency. My friend who works in Odessa works for a company who pays employees in dollars. Go to Africa and many countries will accept dollars. You cannot do this with Yuan, for example.
Whenever anyone pays in dollars they go through American banks, so America controls the flow of currency.
This is why the EU was created, to be able to compete with the dollar, as each individual country has a negligible GDP, except for maybe Germany.
If you want to rule the world, you create the next dollar, you create the most powerful currency.
Who else would have the motivation to play such a big role in the geopolitical game? China has good reason to democratize the financial playing field and will become the world's leader if the dollar becomes obsolete.
One man cannot create such a thing.
Whoever created it had reason to replace with the dollar, as the dollar can almost be considered the world's universal fiat currency. My friend who works in Odessa works for a company who pays employees in dollars. Go to Africa and many countries will accept dollars. You cannot do this with Yuan, for example.
Whenever anyone pays in dollars they go through American banks, so America controls the flow of currency.
This is why the EU was created, to be able to compete with the dollar, as each individual country has a negligible GDP, except for maybe Germany.
If you want to rule the world, you create the next dollar, you create the most powerful currency.
Who else would have the motivation to play such a big role in the geopolitical game? China has good reason to democratize the financial playing field and will become the world's leader if the dollar becomes obsolete.
One man cannot create such a thing.
BITCOIN came of the NSA, but BITMAIN(JACK-MA)/Alibaba richest guy in China saw to it to ADOPT, and today Ma is not only Chinese Communist Party bigwig, and richest man in China, but he also OWNS the entire crypto universe, BTC & all alts that matter.
It doesn't matter if NSA has the backdoor to btc or not at this stage, china has all the crypto keys in their pocket.
Long before NSA created BTC, the BIS wrote the spec (1997), BIS works with china, most likely how this played out is that China&BIS are working that china be the next reserve-currency, but they want an option of fiat or crypto, just like INTEL, its best to own it all, not knowing which will win, but if you own all the fighters in a fight, all the cars in a race, then its always win-win.
Anyone could have created bitcoin. An organization could have created it, a single person could have created it, no one knows.
You mentioned that there was an incentive for China to create bitcoin in order to replace or at least compete with the US dollar, but this is just completely false. Firstly, BTC would also be competing against their own fiat currency (the Yuan), so it makes no sense for them to create a decentralized alternative to replace potentially their own legal tender currency. Secondly, China still holds a ton of US dollars, and making it worthless makes no sense. Thirdly, it's just impractical to expect BTC to replace USD completely any time soon. And lastly, China has shown a tendency to be quite restrictive to bitcoin. Why would they do that if they created it?
It's complete, baseless speculation in my opinion. There is virtually no chance that what you argue is true. It could have been the case, but it's most likely not.
You mentioned that there was an incentive for China to create bitcoin in order to replace or at least compete with the US dollar, but this is just completely false. Firstly, BTC would also be competing against their own fiat currency (the Yuan), so it makes no sense for them to create a decentralized alternative to replace potentially their own legal tender currency. Secondly, China still holds a ton of US dollars, and making it worthless makes no sense. Thirdly, it's just impractical to expect BTC to replace USD completely any time soon. And lastly, China has shown a tendency to be quite restrictive to bitcoin. Why would they do that if they created it?
It's complete, baseless speculation in my opinion. There is virtually no chance that what you argue is true. It could have been the case, but it's most likely not.
Yes it is possible. But this is the way to talk about many countries, including Asian ones. Although my personal opinion is that at first one person came up with this technology, then it was already passed into the hands of people and the state. In fact, there is no point in discussing what cannot be changed. All that we can do now is to do nothing, or to profit from this phenomenon.
I'm not sure if your statement about the reason for the creation of the EU is accurate. But moving on, a few points to address:
-Yes, the dollar is pretty much the world's reserve currency (though the BRICS Nations wish[ed?] to disrupt that), and currently, not only for this fact but also because every other country's currency is fiat, if something happened to the dollar (and Mike Maloney believes a shift will happen soon), such as a collapse, it would likely be a global event.
-As to the creation of Bitcoin: there are so many theories, even that it was created by a government agency (CIA?) to easily conduct international transactions. I myself have entertained the thought that it could have been created by an AI. However, your claim that just one man couldn't make it, isn't true. All it would take is an innovative programmer, with knowledge of the related tech, and an idea he wants to create (in this case, Bitcoin), which, I don't think he was even the first to have the underlying idea (digital money) or even to realize the problem that needed to be solved (double spending). Aside from that, it's long been noted that his name (Satoshi Nakamoto - Japanese) may be pseudonymous for a group of programmers anyways.
-So are you saying that China could not have created Bitcoin, or that it likely could have created Bitcoin (your title and then the bottom of your message seem to contradict)? I don't see how Communist China would benefit from creating a system that could easily take money out of their own system (which they like to control very tightly, I believe), and allow people to make international purchases, send messages, and transfer money, all without the Communist Party's oversight, which they would not be too happy about.
Have a great day,
The Cyberius team.
-Yes, the dollar is pretty much the world's reserve currency (though the BRICS Nations wish[ed?] to disrupt that), and currently, not only for this fact but also because every other country's currency is fiat, if something happened to the dollar (and Mike Maloney believes a shift will happen soon), such as a collapse, it would likely be a global event.
-As to the creation of Bitcoin: there are so many theories, even that it was created by a government agency (CIA?) to easily conduct international transactions. I myself have entertained the thought that it could have been created by an AI. However, your claim that just one man couldn't make it, isn't true. All it would take is an innovative programmer, with knowledge of the related tech, and an idea he wants to create (in this case, Bitcoin), which, I don't think he was even the first to have the underlying idea (digital money) or even to realize the problem that needed to be solved (double spending). Aside from that, it's long been noted that his name (Satoshi Nakamoto - Japanese) may be pseudonymous for a group of programmers anyways.
-So are you saying that China could not have created Bitcoin, or that it likely could have created Bitcoin (your title and then the bottom of your message seem to contradict)? I don't see how Communist China would benefit from creating a system that could easily take money out of their own system (which they like to control very tightly, I believe), and allow people to make international purchases, send messages, and transfer money, all without the Communist Party's oversight, which they would not be too happy about.
Have a great day,
The Cyberius team.
It seems too legendary to be true. One Asian guy had enough foresight and technical capabilities to create the world's potential future universal currency?
Whoever created it had reason to replace with the dollar, as the dollar can almost be considered the world's universal fiat currency. My friend who works in Odessa works for a company who pays employees in dollars. Go to Africa and many countries will accept dollars. You cannot do this with Yuan, for example.
Whenever anyone pays in dollars they go through American banks, so America controls the flow of currency.
This is why the EU was created, to be able to compete with the dollar, as each individual country has a negligible GDP, except for maybe Germany.
If you want to rule the world, you create the next dollar, you create the most powerful currency.
Who else would have the motivation to play such a big role in the geopolitical game? China has good reason to democratize the financial playing field and will become the world's leader if the dollar becomes obsolete.
One man cannot create such a thing.
Whoever created it had reason to replace with the dollar, as the dollar can almost be considered the world's universal fiat currency. My friend who works in Odessa works for a company who pays employees in dollars. Go to Africa and many countries will accept dollars. You cannot do this with Yuan, for example.
Whenever anyone pays in dollars they go through American banks, so America controls the flow of currency.
This is why the EU was created, to be able to compete with the dollar, as each individual country has a negligible GDP, except for maybe Germany.
If you want to rule the world, you create the next dollar, you create the most powerful currency.
Who else would have the motivation to play such a big role in the geopolitical game? China has good reason to democratize the financial playing field and will become the world's leader if the dollar becomes obsolete.
One man cannot create such a thing.
One of my wildest theory as well. Or maybe one of the socialist country or believer if my economy model or type of leadership is correct. Or could also be really a true form of creativity of human that has made us to go to the socialism because of the network effect of the internet.
I don't thing china would have created Bitcoin, If they might have created I am sure they would not make restrictions to use crypto in China, If this technology was developed in china they will make it more popular as they can. They might have pushed the asian countries to make use of bitcoin also the economy of that country would have been changed If bitcoin was developed in china.
Also I don't think this is how China would go about replacing/nullifying the USD if they were to attempt to do so.
Even if that was their motive (which I don't believe), it would mean that they would be dragged down with the fall of the USD since almost everything in the world is pegged to that currency.Think about it, if one country could pull off something like that, it will end up being a weapon more countries won't shy away from to use against other countries if they don't follow their economical roadmap.
I think China's massive US debt holdings are a decent enough weapon they can use to settle problems where possible in a more 'friendly' manner. People here love conspiracy theories.
wow my country is very defeated and China is a developed country now the technology has exceeded its population limits and is very smart I have to imitate China
It seems too legendary to be true. One Asian guy had enough foresight and technical capabilities to create the world's potential future universal currency?
How do you know he was Asian?
One man cannot create such a thing.
One man created a light bulb, 2 men created an aeroplane, 1 man created the radio, 1 man created a nuclear reactor...
One man can certainly write a white paper and invent decentralized money.
And this is another of the conspiracies that we cannot get tired of seeing popping out everywhere and every time. I wonder the argument for the proponents of something like this for the government to create it and they are the first set of people to have ban such technology. It does not add up because if its control they are looking for to have been the basis for the creation, probably they lost it. Either way, this one too will fizzle away just like all of those conspiracies.
I really believe that a person can create it, as you can see bitcoin has not been the first crypto, the only thing really innovative was the idea of making it decentralized, which was really great, and if you read the whitepaper you can see that the concept and execution is quite simple, if you know something about cryptography.
While I do agree with you that China would have good reason to want to replace the USD as the "world's currency," I disagree with you that it's impossible for one man to have created it. All throughout history, there have been countless remarkable individuals that have invented or started incredible innovations in technology & other fields.
Also I don't think this is how China would go about replacing/nullifying the USD if they were to attempt to do so.
Also I don't think this is how China would go about replacing/nullifying the USD if they were to attempt to do so.
It seems too legendary to be true. One Asian guy had enough foresight and technical capabilities to create the world's potential future universal currency?
Whoever created it had reason to replace with the dollar, as the dollar can almost be considered the world's universal fiat currency. My friend who works in Odessa works for a company who pays employees in dollars. Go to Africa and many countries will accept dollars. You cannot do this with Yuan, for example.
Whenever anyone pays in dollars they go through American banks, so America controls the flow of currency.
This is why the EU was created, to be able to compete with the dollar, as each individual country has a negligible GDP, except for maybe Germany.
If you want to rule the world, you create the next dollar, you create the most powerful currency.
Who else would have the motivation to play such a big role in the geopolitical game? China has good reason to democratize the financial playing field and will become the world's leader if the dollar becomes obsolete.
One man cannot create such a thing.
Whoever created it had reason to replace with the dollar, as the dollar can almost be considered the world's universal fiat currency. My friend who works in Odessa works for a company who pays employees in dollars. Go to Africa and many countries will accept dollars. You cannot do this with Yuan, for example.
Whenever anyone pays in dollars they go through American banks, so America controls the flow of currency.
This is why the EU was created, to be able to compete with the dollar, as each individual country has a negligible GDP, except for maybe Germany.
If you want to rule the world, you create the next dollar, you create the most powerful currency.
Who else would have the motivation to play such a big role in the geopolitical game? China has good reason to democratize the financial playing field and will become the world's leader if the dollar becomes obsolete.
One man cannot create such a thing.
It could be possible for them to create such a bitcoin. They can do it by themselves . Beware sometimes, this might be a fake bitcoin.
That is a possibility but chances are very slim. It would not have seen such an enormous growth in that case in my opinion.
I agree that one man can't create such a huge and complex thing like Bitcoin,but I believe that Bitcoin can't be created from China, the China's government is very focusing on the centralised,the supervision of the transaction is really tight in that country,so it's impossible to created a decentralized currency from a very conservative government
Pretty much sure nobody knows what will happen accurately. China doesn't want to attempt to creates bitcoin as a matter of fact they are focusing of creating business items that more affordable than the other productions. I know China is powerful country but because of the large population it is much better to create more businesses for the good of others than focusing in bitcoin that very volatile and possible to make China's economy to zero.
There is this possibility, because China was strongly in supporting bitcoin in the early days of Bitcoin's birth, and also gave some development support for altcoins, such as NEO, even after the hacking incident in Mt.Gox, the Chinese government Bitcoin is still supported. But things changed in 2015. The Chinese government found that Bitcoin became uncontrollable and had some negative effects. This was not what they wanted. They found that things seemed to be beyond their control.
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