Delve deep into Bitcoin’s craziest conspiracy theories

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US Government created Bitcoin

Crypto was created by the government to control inflation in the wake of quantitative easing.
submitted by JeerFear to Bitcoin [link] [comments]

US Government created Bitcoin /r/Bitcoin

US Government created Bitcoin /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Did the US government create Bitcoin?

Theory: Uncle Sam created bitcoin in the immediate aftermath of the recession as a way to inflate an imaginary bubble rather than an actual asset class. The propagation of crypto has been pushed by opportunists led on by spies/actors.
submitted by JeerFear to Bitcoin [link] [comments]

Did the US government create Bitcoin? /r/Bitcoin

Did the US government create Bitcoin? /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Did the US government create Bitcoin? /r/Bitcoin

Did the US government create Bitcoin? /Bitcoin submitted by cryptoallbot to cryptoall [link] [comments]

03-19 13:25 - 'Bitcoin isn’t a currency you don’t get taxed on currency! / The US government don’t pay interest on Dollars they create, so what you talking about! / You see you are a financial retard who doesn’t even know how dolla...' by /u/CreepyCranfield9 removed from /r/Bitcoin within 425-435min

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Bitcoin isn’t a currency you don’t get taxed on currency!
The US government don’t pay interest on Dollars they create, so what you talking about!
You see you are a financial retard who doesn’t even know how dollars or the fed work.
Here is a link that may clear it up for you.
The clue is insolvent
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Author: CreepyCranfield9
1: **w.amer*canbanke*.com**pi*ion/the**ed-i*-t*chnic*l*y*inso**en*-should-anyb*d**ca*e
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Recent redacted court filings suggest that Craig Wright claims to have created the Bitcoin software as part of an operation by the US government

Recent redacted court filings suggest that Craig Wright claims to have created the Bitcoin software as part of an operation by the US government submitted by eth_trader_12 to CryptoCurrency [link] [comments]

QUESTION: Why do so many in the truther community believe Bitcoin was created by the Government to enslave us all?

submitted by KryptozCom to Bitcoin [link] [comments]

Andreas PumpnDumpoulos explains that ISIS is a psyop created by US government to bring down Bitcoin. Also Bitcoin will end all wars in the comments

Andreas PumpnDumpoulos explains that ISIS is a psyop created by US government to bring down Bitcoin. Also Bitcoin will end all wars in the comments submitted by basharakbar to Buttcoin [link] [comments]

US Secret Government created Bitcoin, to use miner's processors to hack through encrypted devices. ELE Incoming! The beasts (insects, wasps, spiders, ticks) are all infected and mobilized to target hacked devices.

submitted by kundalinigirl to conspiracy [link] [comments]

Bitcoin ‘created as dollar 2.0 by US Government to fund secret CIA and MI5 missions'

Bitcoin ‘created as dollar 2.0 by US Government to fund secret CIA and MI5 missions' submitted by AcerbLogic to btc [link] [comments]

Bitcoin ‘created as dollar 2.0 by US Government to fund secret CIA and MI5 missions'

Bitcoin ‘created as dollar 2.0 by US Government to fund secret CIA and MI5 missions' submitted by puricrypto to Crypto_Currency_News [link] [comments]

Bitcoin mentioned around Reddit: Bitcoin was created by the US government to pay off debt. /r/conspiracy

Bitcoin mentioned around Reddit: Bitcoin was created by the US government to pay off debt. /conspiracy submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

Bitcoin mentioned around Reddit: US Secret Government created Bitcoin, to use miner's processors to hack through encrypted devices. ELE Incoming! The beasts (insects, wasps, spiders, ticks) are all infected and mobilized to target ha /r/conspiracy

Bitcoin mentioned around Reddit: US Secret Government created Bitcoin, to use miner's processors to hack through encrypted devices. ELE Incoming! The beasts (insects, wasps, spiders, ticks) are all infected and mobilized to target ha /conspiracy submitted by BitcoinAllBot to BitcoinAll [link] [comments]

What if the US government actually created bitcoin?

Because they know using quantum computing they will be able to quickly crack any private key and seize/steal any money they want worldwide using any of their war on terrorism/drugs, etc BS justifications.
Could this be a possibility?
submitted by welovebitcoin to Bitcoin [link] [comments]

05-19 09:53 - '421 Fake Cryptocurrencies! China Warns Crypto Pitfalls.Effort from another government after US SEC creates HoweyCoin' (news.8btc.com) by /u/eviade8btc removed from /r/Bitcoin within 1469-1479min

421 Fake Cryptocurrencies! China Warns Crypto Pitfalls.Effort from another government after US SEC creates HoweyCoin
Go1dfish undelete link
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Author: eviade8btc
submitted by removalbot to removalbot [link] [comments]

How would you feel about Bitcoin, if a US government employee leaked evidence to Wikileaks that he and his team created Bitcoin?

Would you feel:
*Cheated and stop using Bitcoin.
*A bit disappointed, but still like and use Bitcoin
*Wouldn't care at all.The creators' identity or reasons are irrelevant, the idea what counts.
submitted by VirtualMoneyLover to Bitcoin [link] [comments]

Bitcoin Created by US Government?

I am starting to get the feeling that the US government must be more involved with Bitcoin than we think. We have recently discovered the extent to which the government has gone to acquire information on people across the world. The NSA and other organizations have gone to extreme measures to gain access to all types of information.
However, although the government's thirst for personal information seems insatiable, their thirst for financial information / control specifically is certainly even greater. This is why I struggle to understand how they could be providing positive feedback towards a financial instrument which inherently removes government control and access to information.
Liberty Reserve and e-Gold were remarkably similar currencies (albeit, centralized), and were shut down due to their links to criminal activity. Both payment systems had legitimate users, as well as criminal users, similar to Bitcoin. I agree that Bitcoin likely has more legitimate users proportionally (many of which are those speculating on Bitcoin itself), but there are no statistics which explicitly prove this. The government took extreme measures to shut down both Liberty Reserve and e-Gold, and have prosecuted the founders for each service heavily.
However, here we are today and government officials are treating Bitcoin as if the criminal activity taking place is manageable, and that the lack of control on such a currency is acceptable. Couple this with the fact that nobody knows who created this payment system, and it really must raise a few eyebrows. I am long Bitcoin, and I actually believe the underlying principles of the currency are a major step forward for the global financial system, but I can't help but have my suspicions that the US government has some secret connections with the currency.
submitted by r2pleasent to Bitcoin [link] [comments]

Bitcoin mentioned around Reddit: The US government should create its own cryptocurrency while purchasing an investment in a portfolio of other Cryptocurrency (Bitcoin, Litecoin, etc) /r/The_Donald

Bitcoin mentioned around Reddit: The US government should create its own cryptocurrency while purchasing an investment in a portfolio of other Cryptocurrency (Bitcoin, Litecoin, etc) /The_Donald submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Did Bitcoin Create more Jobs than the US Federal Government Did in 2014?

Did Bitcoin Create more Jobs than the US Federal Government Did in 2014? submitted by lazycoins to Bitcoin [link] [comments]

Putting $400M of Bitcoin on your company balance sheet

Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots.
A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC).
Today we'll discuss in excrutiating detail why this is not a good idea.
When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust.
However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:

Is Bitcoin money?

No.
Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves:
1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own.
As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get.
You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there?
2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile.
If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point:
3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away.
For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast.
On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC
While the dollar loses value at a predictible rate, BTC is all over the place, which is bad.
One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy.
If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due.
Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.

BTC has a fixed supply, so these problems are built in

Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense.
Having control over supply of your currency is a good thing, as long as it's well run.
See here
Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well.
Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money.
Let's look at a classic poorly drawn econ101 graph
The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand.
Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price
Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control.
It's also a national security risk...
The story of the guy who crashed gold prices in North Africa
In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca.
He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade.
This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.

Currencies are based on trust

Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged?
The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president.
People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all.
It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board.
For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency
This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government."
The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.

BTC is not gold

Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value.
How do we know that?
Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan.
Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well.
Some people are puzzled at this: we don't even use gold for much! But it has great properties:
First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment.
Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials.
Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans.
It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods.
To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that.
On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.

BTC is really risky

One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds.
But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:

Blockchain solutions are fundamentally inefficient

Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science.
That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale.
The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
submitted by VodkaHaze to badeconomics [link] [comments]

"The real war against bitcoin by governments" begins / governments blame it "for the tragedies that they create / “US and allies funded ISIS against Assad, provided weapons, provided training and now will blame bitcoin for the blowback.”

submitted by rberrtus to rBitcoin [link] [comments]

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Bitcoin conspiracy theorists have long suspected the U.S. government, among others, would like to shut down bitcoin. Bitcoin's first decade has seen its price explode, making early adopters ... One example thread, posted five months ago, attributes Bitcoin‘s creation to “Uncle Sam,” aka the US government: Uncle Sam created Bitcoin in the immediate aftermath of the recession as a ... The federal government's relationship with bitcoin has generated numerous headlines over the years, which is surprising, considering that the U.S. government is one of the largest holders of bitcoins. 2. Bitcoin and many of its owners and advocates are Libertarian and anti-government. Bitcoin is an affront to national “fiat” currencies and handy for evading government rules and taxes. Big Government is very motivated to destroy Bitcoin. 3. Bitcoin has been used as ransom payments for computer hacking. I predict it will soon be used for ... It will be based on blockchain technology (the same as Bitcoin) that will be exchanged for US dollars on a 1:1 ratio. This, however, will not be secure from government control as private cryptocurrencies are. The Fed will be able to create and destroy ledger entries, similar to how it now brings Federal-Reserve Notes into and out of existence. Like present paper currency, transactions will be ...

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How to create Aitrades account (New bitcoin)

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