Bitcoin Forum

What would happen if dollar would lost huge value and the the US Government gives a proof of ownership of Satoshi mined bitcoins?
Maybe this was asked sometime before I applogize for repeating the same question.
In other words what if Bitcoin iwas created by the Government?

If bitcoin was  created by the government maybe its characteristics is not the same to the present traits of bitcoin now. Bitcoin will be very prone to corruption and can intervene peer-to-peer transactions which is not private and that would be an issue of security to those holder/owner.

Interesting point, all can be
If its created by US government, he know what the system fail soon and build new Ark of Noah

no you are the first one who came up with this conspiracy theory. congratulations, your big tinfoil hat does work. you should start making more of those and selling them for profit. ;D

in any case the government is never going to create a decentralized currency which is taking the power from them even if they control a large amount of it. and not to mention if they really created bitcoin then they would have never stopped mining it. that doesn't make sense to create it, mine it for a while then go away and let it grow as a decentralized currency and create lots of altcoins some of which are focusing on decentralization and anonymity even!

If bitcoin was really created by the US government,it would have been cracked/hacked back in 2010. ;D
Even the  US government's "Obamacare" webiste was a complete garbage.How can they create a cryptocurrency,that will be so successful and survive over 8 years?

Such theories existed that bitcoin is just another secret project of the government to lure in money launderers and criminals and to use the coin for monetary gains as well. However, there aren't any solid evidence that supports this, and if there's any evidence around, it's too murky to even connect to the government and whatnot. For now, the mysterious Satoshi Nakamoto isn't even identified, and the protocol/system is too complex to be devised by a single person with a wide understanding of cryptography and economics as well. It could be the top dogs of the government, yes, but then again, no irrefutable evidence that hints to your theory yet.

In other words, what if Bitkoyn was created by the government? - if the world finds out about it and it will be true then bitcoin will fall in price immediately.Because one of the main advantages of bitcoin is financial independence from the state and financial institutions.

Governments are political and the politicians tend to put their hands on any money available. Still, they didn't touch those Bitcoin during the years, so the chances for this theory to prove right are slim to none.
However, let's answer to that question: if that would happen, there would start a huge decline of Bitcoin.

No this question has come up several times before, https://bitcointalk.org/index.php?topic=329191.0 <Bitcoin and the illuminati> and https://bitcointalk.org/index.php?topic=726063.0 < Made in the USA >

We would just have to ask the question why they would want to create a pseudo anonymous Crypto currency that are not under their control, if they already have a fiat currency that they can manipulate and also monitor/track and control? They control the money supply and they regulate the flow of money through regulated fiat institutions like Banks. Why would you offer up all that control, to replace it with Crypto currencies that are not under your control?

The only logical answer to this is if you have control, but nobody knows about that. <Which I doubt, because it is a Open Source project with thousands of talented developers that would have spotted that very early on in this experiment>

So I seriously doubt that governments would replace a centralized financial system under their control, for a decentralized Crypto currency system that are not under their control.  ???

If I was the us govt I would do it exactly like bitcoin was implemented.  At some point it will be come to big to fail if it’s not already and then no one will care who has the first mined coins.   We don’t know who the initial developers are.  Or who they really work for!  Congrats to OP for questioning this. Don’t be intimidated by those that can’t think for themselves and have to throw the tin foil hat at ya.  Keep questioning everything the truth sets you free

BR

i dont think it is true but good idea though lol it may be true in that case government would be tracking every thing in the market and i don't it will be a good thing

This way the government would certainly hunt for people who have made great fortunes with bitcoins. And them they will track down all the malacious activities done via bitcoins, lile any criminal offense and stuff like that.

Well uts just an hypothesisi, because if govermnet would have created  bitcoins, they would have made an authentication  process for the users through which fraudulents and criminals cam be shed out throughg yhis process.

It wouldn't make any sense.

They have auctioned off seized coins for silk road, so if their ultimate aim to hold coins on the bitcoin network they clearly aren't trying their hardest.

But let's just say that even if Satoshi was the US government, so what? Satoshi is no longer actively involved in bitcoin, and it would definitely make no sense for any government to create a decentralized currency to take away their own control.

Although, it's not impossible that the US government is trying to accumulate some BTC now, but that's up to speculation.

No. Bitcoin is not created by any government agencies for sure. Governments are not the ones who would create something radically different than the centralized environment we currently live in. In that standpoint, bitcoin is something radically different and that is the reason why it became immensely popular within a very short period of time. If this had been created by governments, they would not struggle so much in accepting bitcoin as a mainstream currency. Since that inclusion didn't happen yet, it is safe to say that bitcoin is not created by any government agency.

If you search the internet, you will see a lot of articles that shows bitcoin is created by CIA or similar to that sort. But nothing is provided as a solid proof that can prove the ground reality.

If ever satoshi was owned by the government, then the government will be able to keep track of all the bitcoin user but I think it is not owned by the US government because it offers various opportunities to other countries.

Only laymen or people without common sense will believe on such FUDS, why would government will create bitcoin and keep it secret? Also stop thinking US as technologically advanced country, there are many other countries which have more talented technologist than what US have also US like to dominate whole world's economy with their USD so creating bitcoin doesn't make sense for them. Bitcoin is just opposite of fiat and it can dominate the modern world's economy in next few decade...

Bitcoin wouldn't become decentralized in the first place if it was created by a government since they will be the ones who will monitor and manage everything that involves bitcoin. And for sure tax will be implemented and maybe too much restrictions.

Not necessarily. Not because Satoshi is actually the US government it doesn't automatically mean that the government now has the power to track all of the bitcoin users. Satoshi is just the inventor/creator. He/she/they don't have an advantage over other bitcoin users/devs, besides his/her/their knowledge.

well here in the philippines has an exchanger of bitcoin so we can do market trading in crypto without usd i hope that there are more countries has the same situation.

If that would happen, I would bet it would be because NSA has cracked the crypto behind bitcoin and not because they are the creators behind bitcoin.

After all NSA does have a big budget for cracking encryption...

If bitcoin is made by a government I would rather think that bitcoin prices will decrease sharply, and public confidence will be lost or diminished in bitcoin.

Another conspiracy that the government (FBI) was the real creator of bitcoin?

I don't care if they will claim one day that this is a secret project that they hid for a very long time as long as the value remains.

And if they show proof of ownership with satoshi's mined bitcoins, they can do it as they wish lol.

I do not agree if bitcoin is created by the government of bitcoin in the creation by satoshi and satoshi not mined bitcoin which is owned by the government of As

No, I don't think so that bitcoin was created by the government or that satoshi is just another group of people and isn't a single identity and I don't think so that satoshi mined bitcoins are owned by the US government. But it is conspired that bitcoin was created by a US government body like FBI. And as we all know that US secret services invented tor so I also think sometimes that it can be possible for the government to invent bitcoin.

It is very good that Satoshi mined bitcoins for the benefit of all mankind. If it is for the US Government only i am very sure it could have been hold by the said Government and other countries would not have full access to it.

China and Russia are colluding to avoid US dolar by creating new gold backed currency. They have gold and US does not - it has been sold long time ago. it would be good for the US to create dollar version 3.0 but this time backed by bitcoin. It is strange that 1.000.000 Btc have no known owner.

it's called awesome <3 because if government use bitcoin that's is an nice decision :) if government buy a rocket missile it's possible that government use bitcoin.

it won't happen because they want something they can control first and is more stable second.


there is a bout 17 million bitcoins created and most of it has no known owner and the small portion that has known owners belong to exchanges.

What do you think would happen if the BTC Genisis coins were suddenly moved back into circulation within the BTC ecosystem? Would BTC thrive or take a dive of the edge of the cliff?

I would not rule it out but then perhaps its not so bad if they want a nice large slice to allow it to exist.....

You have to obviously realise that eventually govs will be the largest holders of btc anyway even if it became the defacto global payment system since taxation will ensure this.

Still it will be way better than a fiat scenario where money can be made out of thin air.

Nobody really knows who owns it but there are other inviduals that have 200k 300k 400k so it's not as critical is it seems.

existed that bitcoin is just another secret project of the government to lure in money launderers and criminals and to use the coin for monetary gains as well. However, there aren't any solid evidence that supports this, and if there's any evidence around, it's too murky to even connect to the government and whatnot. For now, the mysterious Satoshi Nakamoto isn't even identified, and the protocol/system is too complex to be devised by a single person with a wide understanding of cryptography and economics as well.

They control the money supply and they regulate the flow of money through regulated fiat institutions like Banks. Why would you offer up all that control

If bitcoin is created by the US government, I guess it'll be benificial for them. On the bright side, it'll help boost the economy of their country since bitcoin is somehow spreading worldwide. They'll also find and arrest those criminals who uses bitcoin as a way of fraud or any illicit activities for they can monitor the identities of the user. But in reality, I think it's not the government who created the system for a greater number of people still uses the centralized system.

I don't think so but I won't surprise because everything connected with money and profit is owned by the government of the USA, this refers to many things and btc may be not an exception, this is a great way to gain profit

There is no proof that supporting regarding this issue. Satoshi's identity itself is very unknown to me, and maybe for many peoples too.
if bitcoin was created by government, that means satoshi nakamoto was the government itself.

haha, is possible the Israeli Jews are controlling at behind ;D ;D

If Bitcoin was created by US Govt then it wouldn't be called decentralised. Plus then it would not be used worldwide and its characteristics would be different. It wouldn't be same in any aspect.

Can they then legalize crypto-currencies? They can sell a lot of bitcoin, but the demand for it will grow at times ...

I think bitcoin will be sold out quickly

Yes.If bitcoin is created by US Government, bitcoin will lose his decentralised behaviour.Then the investors in bitcoin will gradually reduce.Finally the price of bitcoin will fluctuates to low value. The price of bitcoin will be controlled by US government .Bitcoin will be a decentralised currency ever.

I don't think bitcoins can be created by the government. That kind of coin will lose the consensus of trust. We all know that the value of the dollar is declining, and the value of bitcoin can be kept because of the different mechanism from the Fiat.

If bitcoin was made by the government, it would have failed already,. It will have very different characterisitcs and sure will not be decentralized. The govt would have controlled over it so that it can be corrupted in some ways to get their money. A government made crypto will probably not reach what bitcoin has reached.

if the dollar loses its value, then, I think the world will experience a global crisis. the government does not create bitcoins, but the reality is that governments want to adopt blockchain.

satoshi has no relationship with USA, and in BTC history, I never heard that satoshi steals BTC owned by USA.

this is stupidity in my opinion.

That would be really strange honestly if they were owned by any government for that matter.

If bitcoin was created by the government, then the states would not try to ban any activity related to the crypto currency.

If bitcoin is created by the government, it will soon lose its present value. In recent years, the US government is trying to control bitcoin, which shows that bitcoin has little to do with the US government.

Perhaps bitcoin was made as a way to help boost the economy and gives banks competition by the government. But I highly doubt this is the case because most governments at first did not fully accept this because they did not know the full potential of the coin and the main technology of the coin (blockchain).
I doubt they would make a coin that they have no control over, I do not want to get into full detail but I would suggest looking up “Central Banks Rothchild’s”

we still don't know what is the truth behind this and it still remains a mystery for all of us. but I am not sure that Satoshi mined bitcoins and owned by the US Government and I don't think that the US Government created bitcoin. besides that, we still don't know who is Satoshi Nakamoto, is this person is only one person or a group of the team which doing cryptography and they invented bitcoin because they know that cryptography can give many benefits for all people. I don't think that Dollar will loss huge value and if this is happening, then the economy of the world will be in chaos and maybe it will trigger to the third world. I think let the time will answer all of our questions and meanwhile, we can still trying to make money from bitcoin.

Satoshi created Bitcoin for everyone all over the world and no one owns it but all of the people who got it from hard work. How can US do that if all the people already started mining it from all around the world?

if bitcoin was created by government then government is out of his mind. they are against what they created. seems foolish to me.

  Telling you you can’t have it makes some people want it more.  Could be some reverse psychology going on here.   ;D.  It would fit right in with the mindset of our group here:). 

BR

In this deentralised world it doesn't matter who owns the coins, the important thing is who owns the private key! if the US government can move any of satoshi's bitcoin then i'll believe that they own the coins