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Author Topic: Can Bitcoin be created by Russia or China?  (Read 5332 times)
Hannu
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June 18, 2017, 06:51:38 PM
 #101

Can Russia or China done such a thing to erase the dominance of the dollar over the world?

Generally, there are always governments behind such technologies. For example, StuxNet

One bitcoin is lot of RUR or CNY

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June 18, 2017, 07:41:57 PM
 #102

Theoretically and practically yes, but this will finally depend on the other countries if they will accept the by Russia or China introduced currency. It will then furthermore depend on the reaction of the US, if they will simply accept this or try to put the renegade under pressure.
Well said...
I think, not only China and Russia are connected with Bitcoin directly but also some big fish are got involved in this platform...like USA, Japan and Australia are also engaged to Bitcoin, but no government is not being engaged in Bitcoin for sure...
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June 18, 2017, 07:56:28 PM
 #103

Can Russia or China done such a thing to erase the dominance of the dollar over the world?

Generally, there are always governments behind such technologies. For example, StuxNet

What's with the subject/title? It is not cohesive to your specific point.

No they cannot. Dollar is a very strong currency and it is the dominant currency in the whole world (I think). And if ever they have some plans about making the dominance of dollar be erased, I believe the the United States will not be silent about this. US will surely make some moves to interfere and impede their plan. Even to trigger a war if they have to, they will do it just to sustain the dominance of their currency.

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June 18, 2017, 08:27:09 PM
 #104

Theoretically and practically yes, but this will finally depend on the other countries if they will accept the by Russia or China introduced currency. It will then furthermore depend on the reaction of the US, if they will simply accept this or try to put the renegade under pressure.
Well said...
I think, not only China and Russia are connected with Bitcoin directly but also some big fish are got involved in this platform...like USA, Japan and Australia are also engaged to Bitcoin, but no government is not being engaged in Bitcoin for sure...

Bitcoin is engaged in secret government services. But we will never know for sure what is happening in the world. I am sure that the countries - giants have long developed a strategy for the cryptocurrency

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June 19, 2017, 01:25:38 PM
 #105

Theoretically and practically yes, but this will finally depend on the other countries if they will accept the by Russia or China introduced currency. It will then furthermore depend on the reaction of the US, if they will simply accept this or try to put the renegade under pressure.
Well said...
I think, not only China and Russia are connected with Bitcoin directly but also some big fish are got involved in this platform...like USA, Japan and Australia are also engaged to Bitcoin, but no government is not being engaged in Bitcoin for sure...
yes these countries are taking interest in bitcoin. Japan has already declare bitcoin as legal currency, and now the other countries are also going to turn it as legal, i think they have the pressure of their users, or may be they have their own interest in it, and therefore they are accepting bitcoin as legal. may be other countries when they will also realize the importance of bitcoin will also start thinking about to accept bitcoin as legal currency.
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June 19, 2017, 02:29:23 PM
 #106

Whether china and russia can create bitcoin, because it will also threaten their own currency and if there is some kind of backdoor. May have to think again if you want to create bitcoin.

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June 19, 2017, 06:40:06 PM
 #107

Nope . its digital currency and anonymous in nature but every country have there currency so i dont think they created it .

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June 20, 2017, 04:49:10 AM
 #108

Can Russia or China done such a thing to erase the dominance of the dollar over the world?

Generally, there are always governments behind such technologies. For example, StuxNet
If they did then they really miscalculated the effect of this technology which by the way would not have been something new, but I think the most likely scenario is they did not have anything to do with it since they will probably be able to find ways to do that without requiring the use of a new and unproven technology like bitcoin.
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June 20, 2017, 11:45:55 AM
 #109

Whether china and russia can create bitcoin, because it will also threaten their own currency and if there is some kind of backdoor. May have to think again if you want to create bitcoin.

Bitcoin is a threat to the Russian economy, but Putin is in trouble with investments and so ready to make investments even in bitcoin. It will not save him. China has long been seeking an alternative to the dollar and perhaps using bitcoin will try to weaken the dollar, but I doubt that these countries could be related to the consciousness of bitcoin.
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June 20, 2017, 12:31:06 PM
 #110


It is possible, we dont know for sure who Satoshi Nakamoto is or if he is a person or an entity. It wouldn't surprise me to hear in he future that an American, Chinese or Russian agency/agent is behind bitcoin or any other alt-coin. Yeah I know my tin foil hat is working overtime  Grin

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June 20, 2017, 01:09:27 PM
 #111


It is possible, we dont know for sure who Satoshi Nakamoto is or if he is a person or an entity. It wouldn't surprise me to hear in he future that an American, Chinese or Russian agency/agent is behind bitcoin or any other alt-coin. Yeah I know my tin foil hat is working overtime  Grin
Pom-pom-pom! Now I won't be able to sleep at night  Grin But I heard Russia is already trying to create its own cryptocurrency.
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June 20, 2017, 04:12:09 PM
 #112

Are you trying to tell that it is formed by a government to counter any internal currency,yes that is what i thought. Tongue I do not care if it is created by Russia or China or Africa,i know it is decentralized and i can hold my money in it.

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June 20, 2017, 04:36:45 PM
 #113

China and Russia won't show interest into generating such a alternate bitcoin. Russia is clear in its stand that it has made plans to use blockchain technology for their financial system and not to generate a new bitcoin. Even if Countries generate we cannot mention it a bitcoin, because the centralized functioning will take away various goodness our bitcoin holds.

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June 20, 2017, 05:26:54 PM
 #114

Can Russia or China done such a thing to erase the dominance of the dollar over the world?

I don't think so. Because both these nations have stood against Bitcoin from the very beginning. The authorities in both these nations have harassed Bitcoin users and have forced Bitcoin-based ventures such as exchanges to close down.


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June 21, 2017, 06:01:45 AM
 #115

That is basically impossible.  It would simply be a fork and only one would survive.  They can make their own coin, like the myriad of others, but if the clone was exact, especially at the merkle, it would end up being a fork and with that much time offset and the rest, it would never survive the consensus.

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June 21, 2017, 06:02:57 AM
 #116

That is basically impossible.  It would simply be a fork and only one would survive.  They can make their own coin, like the myriad of others, but if the clone was exact, especially at the merkle, it would end up being a fork and with that much time offset and the rest, it would never survive the consensus.

One of the networkers around here tried to "raise" a little baby Bitcoin fork in a completely isolated network of ten computers and it never integrated and never even dented the original blockchain.  The great thing is that since Bitcoin is so established there is virtually nothing that can be done to force a consensus with a new coin without the community being behind it. 

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June 21, 2017, 06:21:37 AM
 #117

Even though Russia and China is one of the biggest countries in the world and have a good economic reputation and above average technology, they can't still make bitcoin or the copy of bitcoin because bitcoin has its own name and concept and if they will copy bitcoin just like the original then it will not a good coin because they will get a lot of haters and i think the only thing that they can do is to make their own version of cryptocurrency.

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June 21, 2017, 06:57:38 AM
 #118

Nothing is impossible, as difficult as any course can be carried out if serious, we all know that Russia and China are the country's largest users of cryptocurrency, and it seemed easy for China and Russia to create a bitcoin.


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June 21, 2017, 07:10:55 AM
 #119

I think it is impossible, even if a country as large as Russia and China creates something like bitcoin, tell me what will happen when bitcoin is governed by the government, the bitcoin that is supposed to be independent is not bound by anything, I think it would be very difficult if Managed by the state, because it will cause new problems that will arise in the future
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June 23, 2017, 11:31:36 AM
 #120

Am suspecting China be behind the creation bitcoin and not Russia. During last year usa election, Trump accused China of currency manipulation and my mind go to bitcoin emediately. The world leaders own bitcoin was created to reduce the dominant of dollars.
Yeah China coming out with bitcoin what a joke. They were smart enough to invest in bitcoin and they made the mining hub of the world,they took the risk and they are reaping the profit,other than that it is originated from a common wealth country according to the language the author used in the white paper.
I also think that the Chinese are much more advanced in the development of crypto currency than other countries. And even Russia in this respect is very much inferior to the Chinese.
Maybe you are right Chinese are more intelligent, and they are a pro in technology wise. If you see the digital currency miners percentage all over the world, i think China will cover up to 70%. And rest of 30% people will come from all over the globe. So I also believe that Chinese maybe created this Bitcoin.

There is no amount of power that can match the mining out there now and no amount of force that can be applied that will tip the battle in the new forks favor.
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