Was Crypto Started by Western Elites?

shinharu10282016

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Quote from: suzanne5223 on December 05, 2018, 07:51:46 PM

Quote from: Sama517 on December 05, 2018, 02:25:22 PM

Quote from: BobK71 on November 22, 2018, 10:32:58 PM

Please discuss!

I do not have direct evidence either way, but I have come to the conclusion that, if Bitcoin did not exist, the Western elites would have liked to create it in secret. My indirect evidence includes:

- Bitcoin has not been killed by a combination of regulation, market manipulation, and propaganda after 10 years. As turbulent as the price has been, Bitcoin has been an excellent long-term bet. Whatever assault it has suffered, it always seems to survive.

- Bitcoin has taken demand away from gold and silver, which traditionally are the big threats against central bank money.

- If central banks secretly own lots of Bitcoin (we still don't know who really owns "Satoshi's bitcoins!") they will have the best of both the gold-standard and fiat worlds in the future. (I will explain this when I have time.)

I quite support your view due to my own observations, although stand to be corrected. It is a fact that anything not invented, or liked or supported by the likes of US, Great Britain and France, they all go out to either ridicule or destroy it. This has not happened to Bitcoin despite its ten years of existence.

I'm afraid you're right because this are what happening over the decade but if we look the battle which bitcoin have fought and overcome and how Satoshi mail archive look like we can still the Western Elite might be the the started of crypto currency.

If his assumptions are assumed to be right, I would give these three answers as well.

- It has not been killed by regulation? Look at ETF. Market manipulation? Oh, just look at how whales these thousands of bitcoin like it was nothing in the last 10 years. If bitcoin is a long term bet, why not bet in stocks where you can actually see your money flow in and out right? It will be the same anyway, since it involves money.

- If central banks secretly own lots of bitcoin, they won't ban it and make sure people are going to use it. Number 1 Reason? Money again. Bitcoin works like stocks but is different in terms of decentralization.

- If western people started crypto, why was the whitepaper creator sounded so Japanese? And come to think of it, the person himself is Japanese, they claimed it according to wikipedia.

duoduoshigexiaozhu

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This should be related to Wall Street, but not absolute. The rise of cryptocurrencies was created by the global elite. The 2017 cryptocurrency transitioned from elite to financial investors, so bitcoin took off. The next bitcoin takeoff is when cryptocurrency applications become popular.

suzanne5223

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Quote from: Sama517 on December 05, 2018, 02:25:22 PM

Quote from: BobK71 on November 22, 2018, 10:32:58 PM

Please discuss!

I do not have direct evidence either way, but I have come to the conclusion that, if Bitcoin did not exist, the Western elites would have liked to create it in secret. My indirect evidence includes:

- Bitcoin has not been killed by a combination of regulation, market manipulation, and propaganda after 10 years. As turbulent as the price has been, Bitcoin has been an excellent long-term bet. Whatever assault it has suffered, it always seems to survive.

- Bitcoin has taken demand away from gold and silver, which traditionally are the big threats against central bank money.

- If central banks secretly own lots of Bitcoin (we still don't know who really owns "Satoshi's bitcoins!") they will have the best of both the gold-standard and fiat worlds in the future. (I will explain this when I have time.)

I quite support your view due to my own observations, although stand to be corrected. It is a fact that anything not invented, or liked or supported by the likes of US, Great Britain and France, they all go out to either ridicule or destroy it. This has not happened to Bitcoin despite its ten years of existence.

I'm afraid you're right because this are what happening over the decade but if we look the battle which bitcoin have fought and overcome and how Satoshi mail archive look like we can still the Western Elite might be the the started of crypto currency.

exstasie

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Quote from: cellard on December 05, 2018, 12:43:25 PM

If they tried to kill, it could have 2 negatives for the nation states trying to do so:

-They could no longer be able to claim they are "free countries". They would be going full totalitarian on it, hard to defend this for a marketing PoV where you are supposed to be on the land of the free or whatever they like to sell it.
-If they finally tried to kill it, and they failed, they could be seen as impotent and it would only strengthen Bitcoin long term after it recovers.

The theory that SN are the elites and they are custodian of all these coins is also valid, but they would need to move these coins first, which goes against their incentives since there would be a panic sell, so they can't basically move it.

I've always figured they don't desire to kill it because they know they can't. They could facilitate prohibitions and push the price way down, but in the end, they'd probably look impotent. If a government prohibits Bitcoin usage, it also puts them at a potentially great economic disadvantage to other world powers as cryptocurrency businesses flock to friendlier jurisdictions, (bringing growth with them).

If they control the Satoshi coins, they could create a pretty convincing narrative about Satoshi's return (contrasted against Faketoshi's appearance). The appeals to authority would be powerful.

Sama517

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Quote from: BobK71 on November 22, 2018, 10:32:58 PM

Please discuss!

I do not have direct evidence either way, but I have come to the conclusion that, if Bitcoin did not exist, the Western elites would have liked to create it in secret. My indirect evidence includes:

- Bitcoin has not been killed by a combination of regulation, market manipulation, and propaganda after 10 years. As turbulent as the price has been, Bitcoin has been an excellent long-term bet. Whatever assault it has suffered, it always seems to survive.

- Bitcoin has taken demand away from gold and silver, which traditionally are the big threats against central bank money.

- If central banks secretly own lots of Bitcoin (we still don't know who really owns "Satoshi's bitcoins!") they will have the best of both the gold-standard and fiat worlds in the future. (I will explain this when I have time.)

I quite support your view due to my own observations, although stand to be corrected. It is a fact that anything not invented, or liked or supported by the likes of US, Great Britain and France, they all go out to either ridicule or destroy it. This has not happened to Bitcoin despite its ten years of existence.

alex_gr_cc

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Western elites favor total centralization. The financial freedoms that people received with the advent of cryptocurrency do not fit into the concept of centralization. Therefore, I am sure that Western elites are not the initiators of the emergence of cryptocurrency.

cellard

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Quote from: BobK71 on November 22, 2018, 10:32:58 PM

- Bitcoin has not been killed by a combination of regulation, market manipulation, and propaganda after 10 years. As turbulent as the price has been, Bitcoin has been an excellent long-term bet. Whatever assault it has suffered, it always seems to survive.

One could claim that they haven't killed it because it's too late. Bitcoin was able to fly under the radar for all these first initial years in which it was vulnerable, but the elites haven't recognized it or even became aware of it's existence after the network effect was too big to kill it.

If they tried to kill, it could have 2 negatives for the nation states trying to do so:

-They could no longer be able to claim they are "free countries". They would be going full totalitarian on it, hard to defend this for a marketing PoV where you are supposed to be on the land of the free or whatever they like to sell it.
-If they finally tried to kill it, and they failed, they could be seen as impotent and it would only strengthen Bitcoin long term after it recovers.

The theory that SN are the elites and they are custodian of all these coins is also valid, but they would need to move these coins first, which goes against their incentives since there would be a panic sell, so they can't basically move it.

BobK71

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Quote from: exstasie on December 01, 2018, 03:16:59 AM

Quote from: BobK71 on November 30, 2018, 06:09:36 PM

As I mentioned before, even if Bitcoin can't be killed by the elites, its price would be much lower today, if the elites wanted to kill it.

In the end, it really doesn't matter if Bitcoin was truly created independently. If it was, the elites likely have understood its benefits, and the rest of the argument goes the same way, anyway.

Does it? If they created Bitcoin, they likely control a very significant chunk of total supply. That would be a game-changer (as I think you pointed out earlier). But if they only started paying attention a few years in, they're not in that kind of position at all, especially considering China's position in mining and speculation since 2013.

They could keep buying Bitcoin into a large number of addresses when people are selling. And it seems nowadays they really know how to get people to sell! The difference between $2/coin and $4000/coin is huge for us, but for central banks they are 'small change' vs 'smaller change!'

Vt100

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I think it’s definitely possible but we’ll never know.

sinkfish

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bitcoin is something revolutionary and disruptive to modern economy model. elitist wouldnt make something to kill themselves.

Kiweikoo

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Quote from: BobK71 on November 22, 2018, 10:32:58 PM

Please discuss!

I do not have direct evidence either way, but I have come to the conclusion that, if Bitcoin did not exist, the Western elites would have liked to create it in secret. My indirect evidence includes:

- Bitcoin has not been killed by a combination of regulation, market manipulation, and propaganda after 10 years. As turbulent as the price has been, Bitcoin has been an excellent long-term bet. Whatever assault it has suffered, it always seems to survive.

- Bitcoin has taken demand away from gold and silver, which traditionally are the big threats against central bank money.

- If central banks secretly own lots of Bitcoin (we still don't know who really owns "Satoshi's bitcoins!") they will have the best of both the gold-standard and fiat worlds in the future. (I will explain this when I have time.)

Lol, what are you talking about, and who the heck are Western Elites? First cryptocurrency and most famous is Bitcoin and it was created by Satoshi Nakamoto, and based on my research so far Satoshi is a person,. Well, I have seen some sources refer to Satoshi Nakamoto as a group of people, but whatever.

It provides outlet for us to own personal wealth that can’t be restricted or confiscated by anyone. Waiting for your explanation though, cause I still don’t get what you mean.

Ranly123

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Quote from: BobK71 on November 22, 2018, 10:32:58 PM

Please discuss!

I do not have direct evidence either way, but I have come to the conclusion that, if Bitcoin did not exist, the Western elites would have liked to create it in secret. My indirect evidence includes:

- Bitcoin has not been killed by a combination of regulation, market manipulation, and propaganda after 10 years. As turbulent as the price has been, Bitcoin has been an excellent long-term bet. Whatever assault it has suffered, it always seems to survive.

- Bitcoin has taken demand away from gold and silver, which traditionally are the big threats against central bank money.

- If central banks secretly own lots of Bitcoin (we still don't know who really owns "Satoshi's bitcoins!") they will have the best of both the gold-standard and fiat worlds in the future. (I will explain this when I have time.)

As what I have learned, Bitcoin is created by a US citizen named satoshi nakamoto. Eventhough his name is like a Japanese but it is said that he's a citizen from USA and using the name of nakamoto is just used to hide his true identity. Nonetheless, Western elites creates another crypto to rival the creation of Bitcoin and is supported by most of their citizens and all parts of the world.

ausbit

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There is no point on talking about japan or asia just by looking at the name Satoshi Nakamoto. First of all thats not a real name as far as we know, even if it was don't you think we would have figured out who is satoshi nakamoto by just checking all the satoshi nakamotos in the whole world and find which one is more suitable for doing something like this? Don't you think if there was some cryptography professor or something named Satoshi Nakamoto the world wouldn't find out? Hence I think it is a nickname or sorts for the real person and it could be from anywhere.

Of course it could be an asian person that's still possible but not because of the name, because right now that person could be from ANYWHERE in the world (ok I think we can rule out antartica, I am %99 positive it is not from there). Hence when considering who started it, never assume where he is from.

raven7886

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I do not think bitcoin is like any other currency or even commodity we have faced so far in the history of money. It does have one difference between all others like fiat and gold which is having the decentralized human aspect. Fiat is heavily centralized and can be printed whenever federal banks wants to and governments control it by regulating it to even smallest aspects of it.

Gold is a bit decentralized considering no one can actually print more gold (they can mine it like bitcoin if they want) and there has been no known tempering with gold since it is an element and what is gold is gold and can't change anything else into gold. Now with all that in mind gold can't be used to buy stuff that easily, it is really difficult to use it as a payment option, it can be a good investment if you want but can't be changing hands that easily (at least not anymore).

Bitcoin is both like fiat and gold in the sense that you can use it like fiat but it will be decentralized like gold.

Pikachu12

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I think the crypto is starting from the Chinese people, not the Westerners or the Japanese. Because the number of Chinese entering this market is very high. If Bitcoin is produced in Japan, the people there will occupy more Bitcoins than the data.

AAlex48

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I don’t really believe in these conspiracies, unless somehow these bitcoins were stolen.

Nolimitz84

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Quote from: jpoker272727 on November 23, 2018, 04:03:49 AM

I dont know if the western is credited to this.
All i know is cryptocurrency started because of BITCOIN influential.
Then BTC is created by a man named Satoshi Nakamoto.
As the name state, i would think it is started from ASIA.

It is very stupid to simply define the place of birth of Bitcoin by name.In general, I think the creator of Bitcoin is not 1 person but a group of people.And if it is a group of people, it is not the fact that they all sit in the same office).A group of these persons may be people of different nationalities and affiliations and creeds.Perhaps the crypto currency was created not by the state authorities but by some transnational corporations.

yugyug

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There are other form of digital currency exist before the cryptocurrency and bitcoin come, others called them e-currency, cyber-money, virtual currency, digital coin and most of them was developed by the Westerners but it does not intended for the anti-banking system until bitcoin introduced the cryptocurrency where you can have a reward thru cryptographic hash calculation and brute force computational problem. Bitcoin was documented by Satoshi Nakamoto but it does not mean that he made it only by himself rather it is made by a group of radical thinkers on how to evade the banking systems and i believe that the Western Elites initiates this project because eiltes are in favor of banking system as the milking cow of their wealth.

jademaxxiss012

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This could be possible that the one who created bitcoins are group of elites of the group of central banks that are participating in cryptocurrency. Even our local exchanges has talking about regulations and the central bank of the country about them joining in cryptocurrency as trading for bitcoins and other cryptocurrency. I had already getting idea from you and this may had a probability that your claim is true.

exstasie

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Quote from: BobK71 on November 30, 2018, 06:09:36 PM

As I mentioned before, even if Bitcoin can't be killed by the elites, its price would be much lower today, if the elites wanted to kill it.

In the end, it really doesn't matter if Bitcoin was truly created independently. If it was, the elites likely have understood its benefits, and the rest of the argument goes the same way, anyway.

Does it? If they created Bitcoin, they likely control a very significant chunk of total supply. That would be a game-changer (as I think you pointed out earlier). But if they only started paying attention a few years in, they're not in that kind of position at all, especially considering China's position in mining and speculation since 2013.

Topic: Was Crypto Started by Western Elites? (Read 628 times)