The appearance of cryptocurrencies is a secret covered in mist, beginning with the mythological person of Satoshi Nakamoto himself. It is not surprising that the appearance of digital currencies has spawned a lot of conspiracy theories explaining who benefits from their distribution, who stands behind them and what purpose he might pursue.

All theories concerning the origins of cryptocurrencies can be divided into several types.

Some people believe that the distribution of cryptocurrencies will eventually undermine the financial systems of different countries and the monopoly of central banks. This scenario has two possible variants of the development of events. The first one — the world monopoly of one financial system will be established and, most likely, it will be dollar. That is, the adherents of this theory think that when cryptocurrencies undermine national financial systems, they will simply be destroyed.

It is curious that Satoshi Nakamoto’s first letter was dispatched only one and a half months after the bankruptcy of the investment bank Lehman Btothers. when the financial crisis reached its peak. An amazing coincidence, isn’t it? Everything looks even more terrible if we remember that the lion’s share of Bitcoins is still in the hands of the mysterious Satoshi, whose personality is known to nobody.

The second scenario assumes that whatever is the aim of Bitcoin’s founders, sooner or later cryptocurrencies will go out of control. The thing is that any person in the world can be a cryptocurrency emitter and it creates practically boundless possibilities of virtual money.

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According to one of its fathers Martti Malmi Bitcoin is necessary for the protection against «the unfair monetary policy of monopolist central banks».

Another theory suggerts that cryptocurrencies were initially created to carry out quite illegal transactions like financing of terrorists, illegal traffic in arms, etc. Like, Bitcoin is kind of a child of DarkNet.

The Russian economist Valentin Katasonov compares the cryptocurrency distribution process with the dismantling of the”Bretton Woods” post-war monetary and financial system.

In 1976, the USA refused to peg the volume of dollar emission to the size of its gold reserve. It sparked the relentless emission of US dollars which even now brings astonishing profits to its creators. The only restriction for such «monetary alchemy», as the scientist writes, is demand. To create it, a powerful campaign for liberalisation and economic globalisation was launched, new «financial tools» were created to help inflate financial markets. For example, in the 80’s, the boom of the so-called financial derivative tools, or derivatives, started. By the beginning of the XXI century, the market volume of derivatives was estimated at thousands of billions of dollars, although in the early seventies the derivatives were the “microbes” of the financial world.

To put it briefly, Katasonov believes that Bitcoin price is hiked following the exactly same scheme. Sounds terrible.

One more theory says that the future of the cryptocurrency market will be in the hands of Russia and China, who will launch national cryptocurrencies to fight against dollar monopoly. At least that is what the latest “shocking forecasts” of Saxo Bank state. They, too, predict the collapse of the central banks’ monopoly.

In general, the idea that cryptocurrencies can be controlled by someone who might try to change the world economic system is very widespread among economists. And the choice of a person considered to be the ultimate beneficiary of cryptocurrencies often depends on the author’s political convictions.

Now cryptocurrencies are a reality that no country can ignore. In financial circles, there is a prevailing belief that cryptocurrencies should be studied and treated seriously.

It is clear that every country will try to benefit from it. Some launch national cryptocurrencies in attempts to harness this spontaneous process (Switzerland, for example), others think of using them for international transactions (Venezuela, China) and yet others want to study and develop technologies.

Does it mean that the world is on the threshold of a global cryptocurrency race for the financial monopoly?

It seems that I, too, am among the ranks of conspirologists.

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