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Author Topic: Can Bitcoin be created by Russia or China?  (Read 5323 times)
ImHash
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January 31, 2017, 04:51:20 PM
 #41

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

Russia and China as well as other countries can replace the dollar currency if there will be financial collapse in the United States. Another thing is for China and Russia to join hands and bombard America with Nuclear bombs then the dollar currency will lost its value when that happens. But instead of thinking of such negative things let us just wait for the natural movement of the economy to dictate who will be the next universal currency.
Stuxnet ha? that only delayed the inevitable and also went back to bite them in the a*s Smiley If those 2 countries nuke USA there will be nothing left to have an economy for. both of them are free to mine bitcoin but we can only have one bitcoin not many.
On top or under you can get scr**ed regardless, dollar be the dominant paper money or something else it's all the same.
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January 31, 2017, 05:25:29 PM
 #42

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

Wow! it could happened :O i mean both are powerful countries and bitcoin is popular now its a easy money and you can even use bitcoin to pay your tax maybe that would happened my friend that erase the dollar and the bitcoin will reign supreme in this world if that happens well we really be able to easily pay our tax and easy way to pay grosseries Cheesy but really bitcoin will be all over the world and the past bitcoin user will be rich Cheesy by the time being we must store our bitcoin Cheesy in the future it will be a higher price Cheesy
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January 31, 2017, 05:30:47 PM
 #43

Replicating Bitcoin is a very difficult thing to do. Most altcoins have been trying to do this for years, and none of them succeeded in doing so. Even currencies that developers consider to be superior, such as ZCash, have had a poor market performance in the early months. In fact, it managed to be the first cryptocurrency to be worth more than one Bitcoin, but the performance that the currency had in the market after that was very bad, and many investors lost money in that.

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February 01, 2017, 02:18:11 AM
 #44

Replicating Bitcoin is a very difficult thing to do. Most altcoins have been trying to do this for years, and none of them succeeded in doing so. Even currencies that developers consider to be superior, such as ZCash, have had a poor market performance in the early months. In fact, it managed to be the first cryptocurrency to be worth more than one Bitcoin, but the performance that the currency had in the market after that was very bad, and many investors lost money in that.
I remember that time and been watching it, too bad for the investors who lose there money, they did not realize that bitcoin has gone so many ups and downs, hence it should be the most and valuable currency in the crypto world. Whatever altcoins may come up, it will only make bitcoin more valuable and the popularity will be credited to bitcoin as it's origin.

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February 01, 2017, 02:54:33 AM
 #45

we can wondering that bitcoin maybe created by rusia or china because they have the technology and they have capability to created this. but we never know about this and we don't know what is the potential of rusia and china could do that, i am sure that china is really potential because in china we can found new technology and we know that hardware mining in china is the newest than the other country.

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February 01, 2017, 03:41:36 AM
 #46

No i dont think that bitcoin can be created by china or russia .it was created by a single person and because of him we are earning through signature campaign .china is supporting bitcoins to a lot extend as they believe that bitcoins is the future and with that in hand they can control the whole world.

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February 01, 2017, 04:11:23 AM
 #47

Replicating Bitcoin is a very difficult thing to do. Most altcoins have been trying to do this for years, and none of them succeeded in doing so. Even currencies that developers consider to be superior, such as ZCash, have had a poor market performance in the early months. In fact, it managed to be the first cryptocurrency to be worth more than one Bitcoin, but the performance that the currency had in the market after that was very bad, and many investors lost money in that.

I think there is no need to replicate Bitcoin when everything is going well. It wont be any worth. Have anyone tried to replicate USD or EURO ? Then why we people think such things about bitcoin. Bitcoin is a currency and should be treated like a currency.

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February 01, 2017, 04:26:35 AM
 #48

So where is this dollar crippling made in china or RU bitcoin? I can't seem to find it anywhere in exchanges, a marketcap of $16B is like a snack money for US economy Smiley you need to talk about trillions if considering to destroy dollar but why would they do that? are you that much of a naive person to think those 3 countries are truly enemies? dude they can't survive without one another.

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February 02, 2017, 05:44:03 PM
 #49

The inventor may or may not be from Russia or China. Bitcoin could be invented by any one from/and any country. It could even be the least technology-savvy country. He/she/they may also come from the future.

It looks like a technology backed up by a government. However it may be not. Public do not know, yet.

The bitcoin system may have been created by a state. When we look at the bitcoin system, we see that it requires expertise in more than one subject.
StuxNet is a good example of this. This malicious software can not be developed by a single person. The same applies to the bitcoin system.
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February 02, 2017, 05:52:32 PM
 #50

Stuxnet targeted industrial control systems that are being used to monitor and control large scale industrial facilities like power plants, dams, waste processing systems and similar operations. This was such a complicated worm, that most experts deemed this as a government sanctioned attack on specific countries. {In this case, Iran's Natanz nuclear facility}

The Bitcoin protocol is Open Source, so it would be very difficult to hide any malicious code for anything like this to happen.

It would not be right to look at it just as malware.
Yes Bitcoin is open source software. But it brings some innovations as a revolution. He's building a system.
1 BTC was almost $ 1000
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February 02, 2017, 06:27:57 PM
 #51

You mean creation of a replica? The chances are low when it comes to the overnment creating it and people supporting it . If they made a replica of bitcoin its just another altcoin years have passed and not a single altcoin claimed the chair of number 1 . People will surely go to bitcoin cause most are afraid that it will get manipulated by the government .

But if you mean if a state can manipulate bitcoin, Of course they can but the main question is why would they do that and is the method worth it? In order to do that they will need a large amount of money and other process like making people understand it and dealing with its risks .


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February 02, 2017, 07:04:07 PM
 #52

You mean creation of a replica? The chances are low when it comes to the overnment creating it and people supporting it . If they made a replica of bitcoin its just another altcoin years have passed and not a single altcoin claimed the chair of number 1 . People will surely go to bitcoin cause most are afraid that it will get manipulated by the government .

But if you mean if a state can manipulate bitcoin, Of course they can but the main question is why would they do that and is the method worth it? In order to do that they will need a large amount of money and other process like making people understand it and dealing with its risks .

These countries or any other country can do this anyway. They have smart employees working for them and they have money to raise a nice project to create a new crypto currency, an alt coin, I don't doubt this and I don't doubt it can be succesful if they fix the issues bitcoin has now.
And with the marketing machine, the media, on their hands they can make population start using it fast and in big amounts, but this will happen only when it will be interesting for them, I think not now.

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February 02, 2017, 08:48:51 PM
 #53

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

We can't completely write off the idea of Bitcoin having been developed by some secret service, but it is unlikely that it was designed by either of the said countries since the US dollar is by far more stable than the Russian Ruble or the Chinese Yuan. Basically, it pretty much means that Bitcoin is going to hit these currencies in the first place since it doesn't know borders or distinguish between currencies and countries. In other words, the dollar will be the last to fall

Somehow, the idea of Trump being appointed to blow up America from inside looks much more plausible to me

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February 03, 2017, 12:40:54 AM
 #54

So where is this dollar crippling made in china or RU bitcoin? I can't seem to find it anywhere in exchanges, a marketcap of $16B is like a snack money for US economy Smiley you need to talk about trillions if considering to destroy dollar but why would they do that? are you that much of a naive person to think those 3 countries are truly enemies? dude they can't survive without one another.
There's not meaning $(USD) but purpose, could be russian or china made new a cryptocurrency which could be recognized and used in use around the world like bitcoins. In fact those state controls many bitcoin.
in fact no one know the fact about bitcoin that who  created it, my be China or Russia may be not, may it it is created by USA but no one still know the real founder of Bitcoin. either it is created by a single person or by a group of people, or even a state is involve in creating bitcoin, although some people are trusting that bitcoin is created by China because the more users of bitcoin are from China but in fact no one know that reality about that.

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February 03, 2017, 01:45:30 AM
 #55

Can we stop using StuxNet as example that software or technology can be used to fight against other nations?
It can be done, it was done before and will be in the future - but bitcoin is not some computer virus which will disrupt one special target - BTC won't help one nation.
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February 03, 2017, 03:36:12 AM
 #56

If they were smart enough they would just use the current technology and create their own countries coin and distribute it over the blockchain. That would take them less resources and time to do that instead of trying to create or replace the current technology related to economics.



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Gromozeka!
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February 03, 2017, 04:12:51 AM
 #57

So where is this dollar crippling made in china or RU bitcoin? I can't seem to find it anywhere in exchanges, a marketcap of $16B is like a snack money for US economy Smiley you need to talk about trillions if considering to destroy dollar but why would they do that? are you that much of a naive person to think those 3 countries are truly enemies? dude they can't survive without one another.
There's not meaning $(USD) but purpose, could be russian or china made new a cryptocurrency which could be recognized and used in use around the world like bitcoins. In fact those state controls many bitcoin.
in fact no one know the fact about bitcoin that who  created it, my be China or Russia may be not, may it it is created by USA but no one still know the real founder of Bitcoin. either it is created by a single person or by a group of people, or even a state is involve in creating bitcoin, although some people are trusting that bitcoin is created by China because the more users of bitcoin are from China but in fact no one know that reality about that.
China simply could first assess the full potential and it turned out that today they affect Bitcoin as anyone else, but they created it not a fact. I believe that it was not one person but a group of people, whoever it was, he is a genius of our time.

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February 03, 2017, 06:24:00 AM
 #58

Based on the topic op created, its not impossible for countries mentioned to create thier own crypto currency because I am viewing from the position that if they can find away around bitcoin in tracing source and the likes and the citizens are bent on using crypto currency then they will be left with no choice than to create one that will satisfy their need as well as the citizens.

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February 03, 2017, 08:00:52 AM
 #59

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

yuan china and rubbel rusia, can not replace dollar to world curency
yuan and rubbel not acceptable payment all country in the world, so rusia and china can't replace USA in dominance in the world
but china economic strong, but can't replace USA


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February 03, 2017, 09:13:12 AM
 #60

Even though there are many theories claiming XYZ person or organisation or government is behind the bitcoin I think no one is in a position to prove it yet. Bitcoin has grown from a $0 to $1,000 in just 7 years (twice) so people around the world have staked their money in it. It is possible that any country might reveal the intention after 10 or so years. No one knows the future.

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