Bitcoin and the other Cryptocurrency: Conspiracy and Limitation

Who is Nakamoto Satoshi?

Bitcoin challenges against the status-quo of the monetary system and its market. This influence of Bitcoin, the cryptocurrency, reduces the barrier of monetary transactions imposed by national governmental authorities backed up by the status-quo. These authorities are more likely to struggle to defend their vested interests obtained from the barriers imposed by the monetary system they control.

Doesn't anyone imagine the invention of Bitcoin seems to be similar to the invention of Tor, a free software for enabling anonymous communication? The CIA has invented Tor enabling the stealth search avoiding a censorship of various autocratic regimes opposing the US national interest.

Some conspiracy theorists say Satoshi Nakamoto is not a human: it is the joint name referring to the CIA. Nakomoto Satoshi (Surname before first name) can mean Central Intelligence Agency (CIA). Naka means centre, and Moto means base. Then, Naka-Moto can mean central. Sato of Satoshi partially means intelligent. Shi of Satoshi means history. It may make sense because the CIA is an agency remains various historical footprints in the current world.

Like Tor was introduced by CIA, this conspiracy theory assuming Bitcoin was invented and introduced by the CIA may sound plausible. Regardless of the true origin and the root cause of the birth of Bitcoin, the market competition becomes far more efficient by bypassing various barriers of monetary transactions such as the trade-protectionism favouring nation-states' government and the collective distribution of wealth. The inflexible protectionism imposed by corrupt bureaucrats and the unfair distribution of wealth controlled by vested interests of monarchy and aristocracy are no longer effective as much as used to be.


Mining and Limitation

The traditional currencies will not cease but will be also heavily influenced by the existence of cryptocurrencies. Relatively less economically developed regions and relatively smaller sized nations will adapt cryptocurrency faster than economically developed regions.

Bitcoin does not replace the already existing currencies backed up by central banks. The traditional currencies issued by a central bank still maintain their own advantages: They are already established and majority are accustomed with it. Their credibility is linked to the credibility of a big institute such as a nation or a supranational union. The money supply is not limited by something like the mining capacity like cryptocurrency.

It is more resemblance to various commodities like Gold. The nature of cryptocurrencies is notably resemblance to commodities such as Gold. Both Bitcoin and Gold requires "mining" to increase their supply. The value of cryptocurrencies is counter-cyclical to the traditional currencies.