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Author Topic: Can Bitcoin be created by Russia or China?  (Read 5324 times)
AjithBtc
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May 09, 2017, 04:59:14 AM
 #81

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
Not at all.if they had created Bitcoin,they would not be trying to ban bitcoin as they did earlier.instead,they would be promoting bitcoins to decrease dollar usage.Decentralized nature is the beauty of bitcoins and its only created by an unknown person satoshi.
Something same as bitcoin will get implemented as Countries make plans to make their own digital currency. Already dollar value keeps on falling, so those Countries doesn't need to make plans to further decrease it's value. Decentralized nature is the true nature which won't be easily made by a government authorized digital tokens.



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June 13, 2017, 11:17:53 AM
 #82

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 had done it,then why should they first try to ban bitcoins and then start to regulate it.Bitcoin was created by satoshi not against US dollars,but to free people from banking sectors.But surprisingly,bitcoin is reducing the dominance of dollars world wide and it could replace dollars as global reserve currency in the future.

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June 13, 2017, 11:25:15 AM
 #83

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 had done it,then why should they first try to ban bitcoins and then start to regulate it.Bitcoin was created by satoshi not against US dollars,but to free people from banking sectors.But surprisingly,bitcoin is reducing the dominance of dollars world wide and it could replace dollars as global reserve currency in the future.

I agree with this. If Russia or China created bitcoin they would be already showting about that from the rooftops. No need to keep in secret such great achievement if you've done it.

But if I were them I'd probably was spreading such rumors too.  Smiley

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June 13, 2017, 12:41:52 PM
 #84

i heard some one in social media that bitcoin there from japan created by name satoshi thats i heard maybe its true or els but the person ho's creat the bitcoin. nobody els see the person ho created the bitcoin ho knows!

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June 13, 2017, 12:55:35 PM
 #85

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 had done it,then why should they first try to ban bitcoins and then start to regulate it.Bitcoin was created by satoshi not against US dollars,but to free people from banking sectors.But surprisingly,bitcoin is reducing the dominance of dollars world wide and it could replace dollars as global reserve currency in the future.

I agree with this. If Russia or China created bitcoin they would be already showting about that from the rooftops. No need to keep in secret such great achievement if you've done it.

But if I were them I'd probably was spreading such rumors too.  Smiley

Bitcoin was created not by special services, but by a group of programmers. And it could be people from any country. These people were not governmental, so bitcoin is not recognized at the legal level in many countries

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June 14, 2017, 01:14:50 PM
 #86

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 had done it,then why should they first try to ban bitcoins and then start to regulate it.Bitcoin was created by satoshi not against US dollars,but to free people from banking sectors.But surprisingly,bitcoin is reducing the dominance of dollars world wide and it could replace dollars as global reserve currency in the future.

I agree with this. If Russia or China created bitcoin they would be already showting about that from the rooftops. No need to keep in secret such great achievement if you've done it.

But if I were them I'd probably was spreading such rumors too.  Smiley

Bitcoin was created not by special services, but by a group of programmers. And it could be people from any country. These people were not governmental, so bitcoin is not recognized at the legal level in many countries

It will be, sooner or later, I'm sure. Some governments are accepting bitcoin already, like Switzerland, Japan, and Australia will be the next most likely.

But maybe it wasn't "a group of programmers" who created bitcoin. Maybe it was one person.

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June 16, 2017, 07:53:48 PM
 #87

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
The answer to your post title is: Yes, why Russia or China, any Tom Dick and Hary can create (rather mine) bitcoins. To reply to your post content, I must say, creating a national crypto currency is in the cards of major nations.

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June 17, 2017, 06:33:18 AM
 #88

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
The answer to your post title is: Yes, why Russia or China, any Tom Dick and Hary can create (rather mine) bitcoins. To reply to your post content, I must say, creating a national crypto currency is in the cards of major nations.
Bitcoin made by satosi, I think anyone can make a bitcoin, things that make exceptional bitcoin is due to be the first, if not surely make ICO bitcoin is not easy to compete with the other coins.
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June 17, 2017, 07:00:13 AM
 #89

^ what rich said. There's a latin term that is used a lot in criminal law regarding motive when there is a primary/clear benefactor in a will or through the commission of a crime. It's also ironically used in a lot of conspiracy theories (some of which I'm not doubting and have valid points but this concept alone is still not enough to convict under a court of law, I believe it's   simply used as grounds to indict (and as the legal saying goes, you can indict a ham sandwich: meaning very low burden of proof is needed for even an indictment under a grand jury).

Qui Bono simply means in legal jargon, i.e: latin:"Who benefits" and is used in such cases regarding clear beneficiaries, crime and motive in that in most cases the person who has most to gain in the commission of a crime, such as murder, and where there is clear written proof of a singular benefactor, said benefactor is always "suspect number 1" and heavy scrutiny must be placed on such an individual because of motive alone.

Thus hearing all these wingnuts talk about how the Chinese made bitcoin for xyz or Russia did for xyz or the NSA did for xyz clearly don't even understand the simplest workings of bitcoin. It's design itself should say something about who benefits the most, EVERYONE, the public. Since it's decentralized and the fact that there has been no clear market manipulation of the currency with no clear winner or loser as least in terms of corporations or governments should tell you something right there. Also the fact that all transactions are of the public record via blockchain and the currency is actually undercutting other ACTUAL WORLD RESERVE CURRENCIES should say a lot about the legitimate and honest intent of the designer and his desire for transparency in the blockchain and the fact that it's clearly open-source and is still being worked on in terms of it's kinks.

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June 17, 2017, 07:16:50 AM
 #90

Being an international currency is required to have a lot of money because it will be used worldwide. Then on the next point should also be able to maintain the world's trust in the money. By weighing this requirement, surely the owner of international currency must be a strong country. Not only strong economic but also strongly political security of the country.
This can be exemplified as for example the state-owned Iraqi dinar currency. Although the currency is quite strong, but the state is unstable because of the war. This causes the dinar to be used as an international currency, the countries that own and store the dinar will feel anxiety if the country is destroyed. And once the country is automatically destroyed the country will be poor and its currency will fall down. Anyone who keeps the foreign currency, especially in the long run will definitely think about this. They do not want to lose. Hence chosen US Dollar which became the international currency because the United States is predicted to be stable in the long term.
Judging from the current Yuan that has decreased the value of the currency then it is not possible that the benchmark is yuan
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June 17, 2017, 11:06:52 AM
 #91

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
The answer to your post title is: Yes, why Russia or China, any Tom Dick and Hary can create (rather mine) bitcoins. To reply to your post content, I must say, creating a national crypto currency is in the cards of major nations.
You can create a crypto currency, but the most important thing is to make sure that it is recognized by people, and it will be very difficult to do. Who wants to invest in Russian currency? Even Russians prefer to keep their savings in rubles and in dollars and euros.

.

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June 17, 2017, 11:26:35 AM
 #92

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.



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June 17, 2017, 11:48:07 AM
 #93

First of all, I would not compare Russia with China. The fact is that China almost originally became oil holders of crypto currency and holder of a large number of Bitcoin. At the same time, Russia did not do this, and even carried out such laws that have the purpose to punish those users who use crypto currency.

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June 17, 2017, 01:29:05 PM
 #94

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

This is just a conspiracy theory. There's zero evidence that Bitcoin was created by some government, the idea of replacing USD is extremely longshot, and since they don't control Bitcoin, it's not very beneficial for them if they don't control Bitcoin. If it was really created by some government, they would openly or secretly support it in order to make it universal currency, but we don't see it happening to any degree. Satoshi created Bitcoin as response to 2008 financial crisis, as a move to cut the influence of banks from our economy, and I find this explanation much more reasonable than some conspiracy theories.

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June 18, 2017, 03:26:16 AM
 #95

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

This is just a conspiracy theory. There's zero evidence that Bitcoin was created by some government, the idea of replacing USD is extremely longshot, and since they don't control Bitcoin, it's not very beneficial for them if they don't control Bitcoin. If it was really created by some government, they would openly or secretly support it in order to make it universal currency, but we don't see it happening to any degree. Satoshi created Bitcoin as response to 2008 financial crisis, as a move to cut the influence of banks from our economy, and I find this explanation much more reasonable than some conspiracy theories.

That is something that may never be known, I mean like those cases that never resolve, people talk about them even for many years, and new theories begin to emerge from here and there, for example someday  somebody could surely say that  maybe BTC was invented by the aliens, etc.

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cafucafucafu
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June 18, 2017, 05:08:56 AM
 #96

First of all, I would not compare Russia with China. The fact is that China almost originally became oil holders of crypto currency and holder of a large number of Bitcoin. At the same time, Russia did not do this, and even carried out such laws that have the purpose to punish those users who use crypto currency.

Actually, no.

The Chinese has been very keen holders of bitcoin but the Chinese government has been actively opposing bitcoin and bitcoin exchanges. They have essentially blocked off all outflow of bitcoin from major chinese exchanges such as OKcoin, Huobi etc.

If China nad Russia wants to have their own version of bitcoin, then they could simply fork from the original bitcoin. However, whether anyone uses it is another issue. It seems like though that both are very interested in implementing their own blockchain. So not exactly bitcoin, but just their own cryptocurrency that they can still have control over. Not that i see much point in this since it's going to be the same as fiat anyways.


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June 18, 2017, 03:44:45 PM
 #97

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.
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June 18, 2017, 05:57:56 PM
 #98

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

This is just a conspiracy theory. There's zero evidence that Bitcoin was created by some government, the idea of replacing USD is extremely longshot, and since they don't control Bitcoin, it's not very beneficial for them if they don't control Bitcoin. If it was really created by some government, they would openly or secretly support it in order to make it universal currency, but we don't see it happening to any degree. Satoshi created Bitcoin as response to 2008 financial crisis, as a move to cut the influence of banks from our economy, and I find this explanation much more reasonable than some conspiracy theories.

That is something that may never be known, I mean like those cases that never resolve, people talk about them even for many years, and new theories begin to emerge from here and there, for example someday  somebody could surely say that  maybe BTC was invented by the aliens, etc

I agree that we may never know

But, ultimately, after years pass by, many things become known as they really had happened since some info leaks inevitably as well as people start talking when they feel that the Great Reaper is coming to them. Many confidential documents are declassified after some years and finally make it into public knowledge. So there is still a chance that we may eventually find out the truth about Bitcoin creation and who (or what) was behind it

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June 18, 2017, 06:09:17 PM
 #99

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.

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June 18, 2017, 06:19:16 PM
 #100

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.
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