1. No China did not create bitcoin.
2. If China created bitcoin they would be further detrimenting their own Yuan.
3. Bitcoin was public many years before Satoshi Nakamoto created the genesis block. Years of publications in eMoney, eCash and many many other attempts to create a virtual currency existed. Bitcoin was not invented as a spur of the moment.
4. Bitcoin as invented at the genesis block is not the same bitcoin of today, there has been many many lessons learnt and implemented in the protocol which continues to evolve, we are part of the experiment.
5. You would think someone with the academic head would have ended up developing a passion of the subject they are working on, so it was no surprise that BTC was released at the time of the GFC as giving the bird to banks, and the banks still continue to share the same 'love' back.
Topic: The Chinese government could've created Bitcoin - page 2. (Read 491 times)
I bet the people who created bitcoin are still involved in the cryptocurrency sphere somewhere... Helping nudge the process along.
Maybe at this point, even if the person or the group came forward that nobody would believe them.
My best guess is that it was created by some drug cartel that wanted a new form a currency to trade among themselves...
Then the techy Geek nerds came and hijacked it for their future utopian obsession
and... here we are today - which means your conspiracy theory is just as reliable as mine
Maybe at this point, even if the person or the group came forward that nobody would believe them.
My best guess is that it was created by some drug cartel that wanted a new form a currency to trade among themselves...
Then the techy Geek nerds came and hijacked it for their future utopian obsession
and... here we are today - which means your conspiracy theory is just as reliable as mine
The problem with this theory is that things unfolded the other way around. Cryptographers came together and contributed to the project way before it was big enough to be usable by drug cartels. I wouldn't use the term hijack for this either, as it was designed to be free-for-all. So yeah, your conspiracy theory may not be as reliable as mine lmao.
More likely the NSA created the Bitcoin algorithm, but somehow got loose.
Which is perhaps why Satoshi went into hiding when the CIA attempted to contact him.
China could create Bitcoin.
Well in fact they did in a way the China version is NEO, which is a respectable crypto-currency, well liked in China.
Problem for governments is the accountability factors.. Government like to steal from the people.
Bitcoin is protection from government theft.
Which is perhaps why Satoshi went into hiding when the CIA attempted to contact him.
China could create Bitcoin.
Well in fact they did in a way the China version is NEO, which is a respectable crypto-currency, well liked in China.
Problem for governments is the accountability factors.. Government like to steal from the people.
Bitcoin is protection from government theft.
This is impossible. I can be sure that the idea of Bitcoin is contrary to the Chinese government. They are not stupid enough to create something and then ban it. In addition, China's cashless payment is the world's leading, they have advanced cashless payment media such as Alipay, WeChat, etc, there is no need to develop bitcoin.
> They are not stupid enough to create something and then ban it.
I doubt there is something they found stupid in something they created. Most of them will probably be proud of it though. Anyways, it is clearly unknown who satoshi is and we all know that he may sound japanese and all and they claimed he/they really are. There is just this big uncertainty as to who he really is.
This is impossible. I can be sure that the idea of Bitcoin is contrary to the Chinese government. They are not stupid enough to create something and then ban it. In addition, China's cashless payment is the world's leading, they have advanced cashless payment media such as Alipay, WeChat, etc, there is no need to develop bitcoin.
this is a big stretch, although possible, highly unlikely. I just find it very hard to believe as its such an open source project where there is no control from anyone.
I bet the people who created bitcoin are still involved in the cryptocurrency sphere somewhere... Helping nudge the process along.
Maybe at this point, even if the person or the group came forward that nobody would believe them.
My best guess is that it was created by some drug cartel that wanted a new form a currency to trade among themselves...
Then the techy Geek nerds came and hijacked it for their future utopian obsession
and... here we are today - which means your conspiracy theory is just as reliable as mine
Maybe at this point, even if the person or the group came forward that nobody would believe them.
My best guess is that it was created by some drug cartel that wanted a new form a currency to trade among themselves...
Then the techy Geek nerds came and hijacked it for their future utopian obsession
and... here we are today - which means your conspiracy theory is just as reliable as mine
China is a fantastic country, and its government is crazy to have the world. China is currently the most significant player in the Crypto market with the largest number of investors. But powers like the United States will not let China achieve what it wants, I believe in this.
I like your simple explanation, so China today is not focused on making USD, but China is more focused on making virtual currencies, or controlling the BTC market.
this is a good strategy, they will open large facilities, to achieve their goals, because China's goal is to control the world financial structure.
this is a good strategy, they will open large facilities, to achieve their goals, because China's goal is to control the world financial structure.
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.
Enough with the conspiracy stories about Bitcoin. It is true that the US dollar can be considered as the world's universal fiat currency but i don't believe China is the master mind behind the creation of Bitcoin. If China was, like they would have come out to claim ownership of this cryptocurrency after suffering throughout the years. 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 can easily argue that bitcoin was not created by only one person due to the sophisticated idea behind the philosophy of bitcoin. Since no one has come out and proved to be Satoshi Nakamoto, we are still in a dilemma as to whether bitcoin was solely the idea of one person or a team of individuals.
China? The country that tries to control what web users can do online? The one that blocks many websites to be used? China, the one that was baning ICOs not long ago? You think China is up to create a cryptocurrency to let users do what they want?
Do not know why the post title is written like that but OP means satoshi is from China which could be possible but if it is the case then he does not live there anymore. China is a big enclosure for everything related to cryptocurrency.
Could be, but Satoshi's post history was dissected by most users and hinted that he is from the EU/USA due to the time he's most active. Also, Hal Finney once mentioned that Satoshi was so good in conversing in English and have some kind of doubt that this guy is just living a few blocks from his home (it's somewhere here in the forum, that exact statement). Anyway though, it's a nice analysis of what could be the reason why bitcoin was created, though it's still lacking some concrete points as to why China would create such, except for geopolitical power and economic superiority.
Bitcoin was Satoshi Nakamoto's experiment(that experiment turned out to be very successful).
He didn't create bitcoin with the ambitious goal to be the one only global currency.
The chinese government and the people's bank of China had major problems with cryptocurrencies(mostly bitcoin) used for illegal export of money and capital outside China.Do you think that they are that stupid?
He didn't create bitcoin with the ambitious goal to be the one only global currency.
The chinese government and the people's bank of China had major problems with cryptocurrencies(mostly bitcoin) used for illegal export of money and capital outside China.Do you think that they are that stupid?
The problem with your statement is the following :
~ The US Dollar being used globally, gives the USA some advantage over other countries, but Bitcoin does not give China an advantage over the rest of the world, because they do not control it.
You need control over the currency, to be able to benefit from it being used globally. America can reduce the printing of the Dollar and then "bump" the value of their currency, but Bitcoin cannot be manipulated like that.
Also, why did Satoshi give Gavin control, when he left? If this was a Chinese government experiment, they would not have given Gavin control over it.
~ The US Dollar being used globally, gives the USA some advantage over other countries, but Bitcoin does not give China an advantage over the rest of the world, because they do not control it.
You need control over the currency, to be able to benefit from it being used globally. America can reduce the printing of the Dollar and then "bump" the value of their currency, but Bitcoin cannot be manipulated like that.
Also, why did Satoshi give Gavin
This assumption is quite funny! Chinese governmentt?? Created $Bitcoin??? When you and I know the both of them are like; Fire and water!!! The only government on the planet so scared of $Bitcoin is the Chinese Government! The government understands what $Bitcoin is, how powerful a tool it is, and how it can liberate people! Being a commmunist state, with alien laws which most people consider as not "Human Friendly", They can only fight a technology that can distort those laws!! If the chinese government actually created $Bitcoin like you are assuming? they should "Own The Tech"... Rather we see countries like Japan attempting to Own It Instead There is much to $Bitcoin than a country's creation! The idea behind $Bitcoin can only come from "One man who understands Economics, the Human Psychy and Living", Not from polarized multi faceted governments who can't help their own people.
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,
Whoever created it had reason to replace with the dollar,
you've got two mistakes here.
first just because the username of someone looks Asian doesn't mean they are Asian. not to mention that Satoshi is Japanese not Chinese so your whole idea is flawed here!
second bitcoin was never created to replace anything. it was created because of the flaws in existing payment systems and was trying to introduce a new decentralized system that doesn't have those flaws.
as for the theory in general, saying a government created bitcoin is just absurd. governments aren't known to create things they know they can not control and it was obvious from day 1 that bitcoin was designed in a way that nobody can control it. if you say this about centralized altcoins that makes a lot more sense because they are easily controlled because of the fact that they are centralized.
China? The country that tries to control what web users can do online? The one that blocks many websites to be used? China, the one that was baning ICOs not long ago? You think China is up to create a cryptocurrency to let users do what they want?
Well, there is much speculation who created Bitcoin whether it's an invention of a single person or a little group of persons or something else. We don't know it exactly. But we know some stats of Satoshis Bitcointalk profile, earlier in this forum there were activity stats, showing the posting activity by time. Unfortunately this is disabled now but there are still existing pictures.
Here is posted a picture, where it can be seen at which time he submitted most of his comments: https://bitcointalksearch.org/topic/m.9022525
The pattern is very clear that his posts were not submitted of a person or group living in Asia, he would have written them at night and sleeping in the daytime. It looks more like Western Europe / East Cost of America.
Here is posted a picture, where it can be seen at which time he submitted most of his comments: https://bitcointalksearch.org/topic/m.9022525
The pattern is very clear that his posts were not submitted of a person or group living in Asia, he would have written them at night and sleeping in the daytime. It looks more like Western Europe / East Cost of America.
The argument is not a strong enough to believe that bitcoin was created by China. Otherwise they wouldn't have banned it. Also even if the current economy and world trade is dominated by dollars, Chinese Yuan is coming up to the ladder very fast. They have taken a very different approach to increase their foothold on the world economy by the way of giving huge loans. Pakistan and Sri Lanka has already fallen for the trap and Maldives is on the same way.
Since international debt sanction is also a part of GDP calculation and a measure to currency valuation, China is standing at pretty good position currently based on the few trillion Yuans of loan they have given out. So looking at this situation, China has no reason to create bitcoin to control the international trade or to replace USD.
Because, any bitcoin enthusiasts know that bitcoin is not capable of replacing dollar or this century old fiat system. Crypto is a parallel economy that is growing within the internet with no intention to replace anything!
Since international debt sanction is also a part of GDP calculation and a measure to currency valuation, China is standing at pretty good position currently based on the few trillion Yuans of loan they have given out. So looking at this situation, China has no reason to create bitcoin to control the international trade or to replace USD.
Because, any bitcoin enthusiasts know that bitcoin is not capable of replacing dollar or this century old fiat system. Crypto is a parallel economy that is growing within the internet with no intention to replace anything!
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