Bitcoin Forum

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.

No one knows exactly where satoshi is actually from,its claimed it's Japan though,but there is no actual prove about that nor about the fact of him,she or they being an Asian,it could just be a pseudonym


I do not actually think the bitcoin was created as a substitute for the dollar,its simply was created to give individuals in a particular system control of it as opposed to fiat,thats why enthusiast and investors in here control the value and it's price.


America controls the flow of only the USD,they definitely do not control the flow of any sovereign nations currency


The European Union was created for national integration amongst European nations,and end incessant battles between them..


China really doesn't need to prove anything by creating a currency under disguise,they sure have the fastest growing economy,this shows their currency is one of the world's leading currencies

Come to think of it why create something and place a ban on it...
Satoshi created bitcoin,i think we should simply leave it at that

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!

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://bitcointalk.org/index.php?topic=802869.msg9022525#msg9022525


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.

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?

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.

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.

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 <US citizen> control, when he left? If this was a Chinese government experiment, they would not have given Gavin control over it.  ::)

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?

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.

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.

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.

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.

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.

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 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  8)

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.

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.

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.

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.

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.

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.

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.

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

That is a possibility but chances are very slim. It would not have seen such an enormous growth in that case in my opinion.

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.

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.

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.

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.

How do you know he was Asian? :D


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.

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

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.  :)

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.

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'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 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.

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.

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.

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.

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.

It may be because China is a much developed country.