Bitcoin Forum

An opinion :

Someone suggested that maybe the Chinese government was actually behind the creation of Bitcoin, and that Satoshi Nakamoto, the unknown inventor of Bitcoin, is actually a pseudonym of a secret department of the Chinese government. Satoshi Nakamoto is estimated to hold about 12% of the bitcoins in existence.

Chinese TV keeps saying nice things about Bitcoin, which implies that its government does not disapprove of its citizens owning them. Chinese citizens seem to be investing in them, as demand in China has driven much of the recent price run up.

Certainly the Chinese want to see the end of the U.S. dollar as the world's reserve currency, but their problem is that they hold too much U.S. debt. Bitcoin could be their way out of the quandry.

Perhaps their plan is to accumulate a huge stake in Bitcoin while the prices are still low, and when the U.S. dollar starts to crash, they might simply switch to Bitcoin and encourage the rest of the world to follow. That would accomplish one of the greatest transfers of wealth in the history of mankind!

Is it possible that the Chinese government is just that clever?

USA dies in a fiery ball and China shall rise victorious of the economic system. That might be our future.

I love chinese food. wait wut ?

Hear me now, believe me later...

China is most certainly going to be the fuel driving the bitcoin market for the next few years.

China sees Bitcoin as a queen on the chess board, eventually subverting the dollar, and doing away with the inflation tax they pay to the federal reserve each time they buy energy or commodities.

fuck murica.
I <3 China

Unlikely, the Chinese government would never come up with a Japanese name for their project if that was the case.

Looks like the current move of BTC above its exponential trendline may be the expectation China is embracing Bitcoin.

I don't think so. Baidu only accepted Bitcoin for a miniscule portion of its business-- security services.

China crushed QQ when it reached 13% of the cash market as it was threatening the stability of their FX controls and their highly imbalanced economic model (see mpettis.com).

There is no way China can allow an unrestrained growth of Bitcoin, as it would crash their economy which is reliant on the imbalanced model.

Once the market figures this out, we should get a crash in Bitcoin back below trendline again.

Speculators always end up at 0 again. Always. Even the greats such as Jesse Livermore died penniless (http://en.wikipedia.org/wiki/Jesse_Lauriston_Livermore#After_the_Crash_of_.2729).

You will be suprised I think EVREYBODY want the dollar to die...
is a distructive system http://www.youtube.com/watch?v=AfzQzGNYaiU , evrybody knows , the inflation is like the imposible hamster,
http://www.youtube.com/watch?v=Sqwd_u6HkMo evrybody knows that! , the problem is WHAT to do about it ,,, bitcoin can be a way out.
saving this place , saving our recources , make a economy were it is profitable to save recources instead of distroying them!
so who is bieind it , it does not matter , the intetion is clear.
stop central domination of money , to solve some real problems.
China knows there is one thing worse then loosing fiat money , that is running out of rescources!
oil coal , etc etc...
but even if china does , bitcoin will still be working , I had send a bitcoin to a friend when his country was offline , by a broken optic fiber , bitcoin nicely arived so there is no point like SR fall  Btc will restore.

woooo china bring us down to 200  :o

Think about the population... $$$$.

Exactly.

That would be like the NSA creating Bitcoin with the name "Alexi Lenin" or something...

If any government created bitcoin it would be Russia. Putin's been stockpiling on all the gold they could get their hands on. Also based on my experience I would say the Russians are much clever, especially in covert operations.

Then again the Chinese aren't dummies either. Wise to embrace open source technologies. I also see a different kind of work ethic and discipline in those people that you don't see in the US as often as you should.

It'll be interesting to see how things turn out. I carry a blank flag always.  :)

a lot of fear mongers are saying that, but china is still way too behind the U.S. to take over.

It may be true that the chinese government sees bitcoin as a future reserve currency but a secret department called Satoshi Nakamoto...  I mean c'mon :-[

http://techcrunch.com/2013/11/18/btc-china-series-a/

Nice article that covers some of these themes pretty well

As we are discussing in the similar thread topic over in Bitcoin Discussion subforum, this process of cyclical handoff from the west back to Asia will take 2 - 3 decades and the west won't fall all the way down, just as the UK has not been a bastion of poverty after the USA rose up.

Asia will rise because of high population and small government share of GDP, and its per-capita GDP will probably still be lower than the USA if including all the poorer countries in Asia.

USA will become #1 oil and gas producers in world (passing Russia) soon.

That is not China moving en masse, it is some entrepreneurs moving in.

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Cross-linking to the similar thread over in Bitcoin Discussion: