I just came across an article claiming that at one point, Vitalik Buterin claimed that the NSA created Bitcoin (BTC). This comes a few days after Brad Garlinghouse argued that bitcoin can never be used as a currency, because it is controlled by China. This then leads to the question, does it really matter who created bitcoin?
To a large extent it matters because bitcoin is the number one crypto in the market. In essence, its origins will play a major role in its adoption, and, and as a consequence the adoption of other cryptocurrencies seeking mainstream recognition. If nations don’t adopt bitcoin based on mistrust of who is behind it, then the rest of the market will lag too. Currency is sensitive, and no country would cede its sovereign control of its currency to a digital currency that could possibly be under the control of another country.
Luckily, even if the creator or creators of Bitcoin (BTC) are not known, the rest of the market is slowly decoupling from Bitcoin. This is being driven by the increased popularity of other cryptos that are now taking the spotlight away from Bitcoin. For instance, cryptos like Ripple (XRP) and Ethereum (ETH) are increasingly growing in popularity, outside of Bitcoin. Once these completely decouple from Bitcoin, who created or didn’t create Bitcoin will no longer matter for the adoption of this crypto.
On top of that, more exchanges are offering fiat-based trading for other cryptocurrencies. As they trading away from Bitcoin, the origins or value of Bitcoin will no longer be relevant. That’s because good cryptos that have clear origins will grow in value and get adopted independent of Bitcoin. This will play a huge role in driving up the value of such cryptos, and the overall growth of the crypto market.
The crypto that stands to gain the most is Ripple (XRP). Ripple has everything that is required for a cryptocurrency to be adopted as a currency. That’s because it has all the attributes of a currency, and is also way more cost-effective for transactions, and a clear origin to boot. This explains why central banks, and other banks are increasingly adopting ripple. Even if Bitcoin were to achieve the efficiency of ripple (XRP), it would be almost impossible for central banks to adopt it the same way they have done with ripple, due to its mysterious origins.
In essence, the whole issue of Bitcoin’s origins is a good thing for the rest of the crypto market in the long-run. That’s because it offers a chance for the rest of the market to thrive independent of Bitcoin. In the long-run, Bitcoin will most likely be relegated to digital gold, with no bearing on the rest of the crypto market, and an area where its origin is not that important. For someone looking at crypto as a long-term investment in the long-run, this is the best time to stock up on cryptos that look set to decouple from Bitcoin (BTC) and gain value independently. They offer the best chances of growth in the future.