Topic: BRICS is a concern for all (Read 166 times)

Even if what you say it is true, OgNasty.
The United States is a democracy and leaders come and go, it is always a possibility a change of the administration (in the executive branch, the Senate or the chamber of representatives).

So I am not sure if it is fair to say that the decline of your country cannot be avoided.
Or you have not faith in any political faction within the United States?
I am sure there must be at least a bunch within the house who would not like your currency to start losing value around the globe.

Don’t underestimate the incompetence of our current leadership. Biden is going to cost America its global reserve currency status and BRICS are growing extremely fast. It’s clear that China will be next to decide the world’s reserve currency and America is about to take a nosedive not seen since its founding. BRICS is on the rise. America is on the decline and we have woke politics and fearful leadership to thank for it.

How does this is going to impact crypto? You should give some idea on how exactly it will.

This is what I'm saying. It shows that many don't like the reigning of the US dollar for how many years and its supremacy. And when this news came out, many thought to be optimistic about BRICS.
But, it's still in its early stage despite that many have heard of it years ago but it just come to pass on its reality this year. I agree that there's still a lot for them to solve but then, we will have to wait how both of these superpowers will react to each other as US isn't alone, it's got its subordinates as well.

I think people might be over-estimating the capacity BRICS have to become a new weight in the balance of power around the world. There are still many things they have to solve so they can become more efficient in achieving mutual economic objectives.

Russia needs to stop the war in Ukraine and renegotiate their access to the markets, otherwise the BRICS members could be affected in the future by the interest on the United States on Russia.

China and India are currently having political confrontations over some territory in the north of India. There has been reports of possible military confrontations, if I recall correctly.

Brazil is very close to the USA and within it's sphere of influence, which could be taken advantage of to fracture the alliance in the long term.

If BRICS wants to grow, they need to tackle those issues and work to include more countries in their block.

"Fuck the US Dollar" that's what BRICS saying to the US. You know who else say the same thing? Bitcoiners.

Bitcoiners mostly think that Bitcoin is an alternative to the US Dollar and one day gonna replace it. That is not any different than saying "Fuck USD".

Why is that a problem when BRICS say it and not when Bitcoiners do the same thing?

I think BRICS are on a good track fighting the US dollar...

The US government has no one to blame but itself for making the dollar a toxic asset for half the world. The misuse of economic sanctions by the United States has made dollar settlements too risky in many trades. A natural reaction to the unacceptable risk of freezing funds is to switch to settlements in local currencies. And since China is the "factory of the world", the share of the yuan in international settlements began to grow rapidly. I think none of the BRICS countries are happy with the prospect of getting rid of one addiction and falling into another, so some solution will be found, but in any case, the trend towards abandoning the dollar in international settlements is obvious and will increase.

BRICS is only an alliance because Europe and North America couldn't form bridge a partnership with India and Latin America. Even Mexico is more closely aligned to China than it is the U.S. And of course, China is poisoning the world with fentanyl; entire laboratories with pharmaceutical chemists whose only purpose is to manufacture poison and distribute it to the world. Do we want these people in charge of global order?

I'm not against countries distancing themselves from NA/EU -- but consider what the consequences are if China becomes a closer ally to major countries. Xi Jinping is a commie dictator.


Dumping the dollar was the right move when the gold standard was done away with. Unfortunately the mistake these countries are making with their cooperation with China is adoption of RMB. It's like dropping one cancer in trade of another.

BRICS is a group of countries not a currency! It is more of a cooperation group with economy and development as its main purpose in addition to dumping the dollar. Even though they have talked about defining their own currency, they still haven't done that.

The only way BRICS could affect bitcoin is if they adopt bitcoin as one of the handful of methods they are currently using for payment among themselves. Otherwise there is no effects.

Undoubtedly there are close ties between politics and economics and some leading nations in the BRICS alliance have been accused of violation of democratic principles. But BRICS is solely an economic alliance geared toward national economic prosperity, hence the political influence of these powerful nations on others might be minimal. It is the responsibility of every responsible government to protect and guide its territorial integrity jealously. Turkey and Hungary are members of NATO but the US and other top members hardly influence their decisions.

The US and Europe need competition and BRICS is a formidable one. It is time for nations, especially developing ones to weigh the consequences of their economic alliance and choose the best option between the US and its partners and the BRICS alliance. The competition will be very stiff, only time will tell who will become dominant.


Although the members of BRICS are rumored to be nurturing the idea of having its currency, currently it is just an economic alliance and doesn't have any currency. BRIC is made up of five nations Brazil, Russia, India, China, and South Africa and their names were used as the acronym BRICS. The next BRICS summit will be in South Africa in August, maybe a new common currency might be introduced.

So what are you suggesting? That the world will stay under the dominance of Americans? Bullshit!

The world needs balance of power and right now it is not the case. When one country becomes too powerful, shit happens! We are already seeing this in middle East and what kind of massacre American forces have done to it. The new world orders needs to become a reality sooner than later for the interest of global peace.

BRICS countries have rightfully decided to use their own currencies for the international trade. That's a great news! How on earth crypto will be impacted?

BRICS is just a fiat currency, similar like Euro, USD, Yuan etc. Do you think Euro, USD, and Yuan give an impact to Bitcoin? if you said yes, then I'm not surprised if you say BRICS will give an impact to Bitcoin.

Actually there's no impact from Euro, USD, Yuan or other fiat currencies with Bitcoin, the inflation happen on fiat currency is make people want to convert their wealth to commodities including Bitcoin.

With de-dollarisation, Bitcoin will become a more popularly favorite option for many people. If they want to find something which does not have inflation like fiat currencies with an example is the US. dollar, they will have like Gold, Silver, and Bitcoin. There are something more to choose but since 2009, Bitcoin is the best asset according to CaseBitcoin.

Case Bitcoin (useful)
ROI chart

Only someone who lives in United States and a US colony and is feeling the pressure of dumping the dollar such as inflation+recession at the same time, would think dumping dollar (ie. what BRICS does) is the "wrong direction" for those countries to go

Maybe instead of worrying about dedollarisation, worry about printers that are constantly printing the dollar?

I'm even more sure now that you feel threatened by the ongoing dedollarisation.

The further you dive into world politics and the global dynamics of world and individual (country based) economics you’ll see there are no black and white answers. BRICs catching up (and in some areas overtaking) was long overdue and has benefitted millions or even billions of people.
Some of that success, especially in regards to India and China is based on huge sacrificies for freedom and human rights in general. Ofc it’s a concerning topic, but at the same time western „democratic“ countries struggle with similar isssues, so I would be very careful to look at these things via a simplifying-lense.
It’s tempting, because it seemingly explains the world situation in an esier to grasp way, but ultimately fails to describe reality.

Last note, BRICs do already impact crypto, yes, but a lot is still subject to change.

Why are you so against BRICS countries? It is about time that these countries start being independent of first world countries like USA and Europe. Their resources has been exploited for years by these countries and they got very little in return.

The BRICS countries should adopt Bitcoin and break all ties to the US Dollar, because it is just pulling them down. They should start to expand the Chinese factories to their countries, so that they can also get educated and skilled like the first world countries. (Elon Musk came from South Africa, so you can see what he became, given the right circumstances)   

Who here thinks the BRICS new world order is the wrong direction for that part of the world to move in?
There really are some democracy concerns on this yet these countries are more or less selling off their freedoms of the people in the name of economy

thoughts anyone?

and yes BRICs will impact crypto as well