Quote from: Batshit on December 31, 2013, 12:04:58 PM

My conspiracy theory is that perhaps the Fed is behind crypto-currencies. Think about it. They've expanded the balance sheet by well over $14 Trillion since the housing collapse and have run out of tools to use. They have been relying on *poof* money creation to keep the system afloat. That is unsustainable and there is no "out" to rein in all that liquidity....A new currency with a mysterious origin just *poofs* onto the scene right after a new administration takes over and sees that things are a complete and utter non-fixable mess.

I see your point that bitcoin could be a potential solution to the US government debt and entitlement funding problem, but the facts don't support a large organization like the "Fed" having created it. If this were the case, it would surely have leaked to enough "friends of friends" that network difficultly would have shot up much faster (after Satoshi published the genesis block on the 3rd of January 2009), and the long bear market after the 2011 growth spurt would not have dipped to $2.

Quote from: Batshit

So, they maintain the status quo until the new currency gets some good footing, but without outright endorsing it lest it draw attention. "A love fest" was how the congressional hearings were described, wasn't it?

The conspiracy theory falls apart completely if we imagine that Jennifer from FINTRAC, that dude with the gelled-hair from the FBI, and that nice-wise-grand-dad-like senator were all "in on it." I doubt those people had ever met prior to the senate hearings on virtual currencies. I think the "love fest" was actually just a "balanced discussion" and shows that a lot of people in the US government are thoughtful and open-minded.

Quote from: Batshit

Just think about it: The Fed and Treasury actually behind BTC. Oh, the possibilities boggle the mind!

The conclusion that I've come to is that if bitcoin was created by a government organization, it was done by a very small group of individuals working without the knowledge or permission of their superiors.