The volatile nature of Bitcoin has caused many rumors to run wild once it's value rises or crashes. There are so many related conspiracy theories behind the virtual money Bitcoin. We take a look at some of the wild and probable theories that have surfaced over the years.
Nostradamus Predicted Bitcoin
This wild idea was covered by the British paper the Express in January of this year. The article referenced several quatrains from Frenchman Nostradamus' Les Propheties work in 1555 that allegedly refer to Bitcoin.
One of the quatrains reads, "How we will see a great nation sorely troubled and the holy law in utter ruin, Christianity governed by other laws, when a new source of gold and silver is discovered."
This vague reference of a "new source of gold and silver" is being tied to bitcoin but it can't be considered concrete proof.
The Express, however, ran with the story in spite of the lack of a clearer Nostradamus-Bitcoin connection.
The American Government Created Bitcoin
Pablo Escobar's younger brother Roberto has made this claim as he has founded his own cryptocurrency Diet Bitcoin last March. Contained in the project's white paper, Escobar explained that the world would soon learn that Bitcoin was a brainchild of the US government and that the CIA is preparing to dump a stash of Bitcoins to reduce its value to zero.
There is no real explanation given by Escobar why the US government has done such actions. No journalist has interviewed him to give more details as to how he came up with his theory.
Satoshi Nakamoto Is A Time Travelling AI Machine
The futuristic online journal Futurism.com covered this claim. Their basis? A Bitcoin block hash was generated in June of 2018 which contained a highly improbable number of leading zeroes which led some to speculate that this had come from the future.
Bitcoin Signals The End Times
This theory is related to the Bible book of Revelations chapter 13. This is all about the "Mark of the Beast."
The Bible tells of a "mark" that all people must have to survive. No one can buy anything and live in a cashless society unless he or she receives the "mark."
It is true that Bitcoin is a representation of a shift to a cashless society, but it's not likely to be the devil's handicraft.
There are many instances when religious fanatics oppose advances in science and mathematics in history. We remember that Galileo was convicted of heresy in 1633 for claiming that the Earth was not the center of the universe.
Bilderberg Bitcoin
This conspiracy claims that members of the Federal Reserve, the Bilderberg group and Mastercard conspired to control the BTC market by using subsidiaries.
The Bilderberg group is a private organization whose members are the most influential people in the world.
The theory claims that a subsidiary of the Bilderberg group, AXA Strategic Ventures, put in $55 million into Blockstream.
Blockstream is one of the main funders of the Bitcoin core development team. If this theory is correct, it will give significant control to the Bilderberg group.
NSA
The NSA-Bitcoin conspiracy claims that the NSA invented the SHA-256 algorithm.
The SHA-256 is the protocol that BTC's Proof of Work system is based on.
This theory came about following the 2013 reports that the NSA is spying on all mobile web activity through a built-in backdoor.
Theorists claim that it's possible that the NSA has a similar backdoor algorithm within the SHA-256 protocol.
This theory does not hold up because the SHA-256 is an open source algorithm that the best cryptographers in the world have studied over fifteen years without discovering any flaws. The SHA-256 is still listed as a secure protocol by the National Institute of Standards and Technology.
China Invented Bitcoin
This theory is based on the actions of the Chinese government. It is claimed that China is the original owner of the digital currency.
The concept is not far fetched since China has the largest number of BTC miners and home to the largest BTC mining rig manufacturer, Bitmain.
A year ago, China put its foot down on the cryptomarket by banning ICO's and closing all Chinese exchanges.
China is a dominant player in the mining sector while their government is still researching blockchain. Chinese citizens were given restrictions with crypto access while the government continues to increase their crypto activities.
This leads you to speculate what China's real motives are behind these strategies.
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