How will the BRICS currency influence Bitcoin? - page 4.

DrBeer

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Quote from: franky1 on January 13, 2024, 04:16:35 PM

Quote from: DrBeer on January 13, 2024, 03:30:46 PM

1. the BRICS was not originally an "alliance against the dollar", it was an alliance "for regional development". It is enough to read about the history, goals. But then, somewhere in the last 2-3 years, China started to actively stir up information noise about "de-dollarization" and quietly began to promote "yuanization"/ It was at this point that BRICS turned from a union, an economic union with good potential, into a political squabble and a club of saviors of the Chinese economy. As a result, they lost the unity of goals and prospects for consolidated development, which is now well observed. Argentina has left the union, India does not want China's hegemony, China is not very successful in pushing its yuan...At the same time it is quietly accumulating dollar reserves and US government bonds, while continuing to incite everyone else to give it up

I think many people have already realized WHY China is doing this.....

2. Regarding the real reserves of China and Russia - no one doubts that there is a huge gap between their statements and the real state of affairs

might want to check the BIS website.. not social media
its not a YUANIZATION
its not a scenario of all countries using the YUAN
its instead multiple CBDC collectively swapping via an m-bridge with no single "reserve" master currency
each country has its own CBDC

I agree, English is not my native language, and maybe I did not convey the main idea very well. I will try to explain it more simply. I wanted to say that over the last 2 years, China has been trying to promote its yuan to the BRICS countries, while actively promoting another topic - de-dollarization. You can simply find information in the interval 2022-2023, where China, at every opportunity, says "let's transfer settlements between us - in yuan", "our strongest economy is behind the yuan - it is more stable than the US dollar", "the dollar is not stable, the yuan is more flexible, we will help you all" - these are their open proposals. But what I completely agree with you - China has been suggesting other countries to abandon the dollar, while not abandoning the dolar itself !
A good example is when China sold the "very stable yuan" to russia for, you guessed it.... DOLLARS, after which, in 3 months the yuan suffered a very bad inflation. Losses of Russia - tens of billions of dollars, respectively - the same level of income of China, on the very process of "dedollarization".

GiftedMAN

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Quote from: Volimack on January 12, 2024, 05:40:12 AM

The creation of BRICS currency as an alternative to Bitcoin is a kind of fantasy or unrealistic. If countries want to unite and introduce a single currency system the influence of the largest and most powerful economy must be accepted. Apart from the core BRICS countries other countries are also doing business in local currencies. But creating an alternative to Bitcoin would be an attempt to change the structure of global governance in general terms.

I don't think the brics has may plan to create a currency that would be able to compete with the US dollar. The creation of the BRICS is for countries to reunite and tackle to excessive sanctions that United States government is using to tackle countries that do not succumb to there idea or instructions. The United States had been exercising her power attacking other countries that do not want to support their ideas. The BRICS is just need and I think with time the countries in the association had been planing of ways they could dish out the USD so that the influence would not be too excessively used against smaller countries or countries that do not have the power to fight for themselves.

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Quote from: dezoel on January 12, 2024, 11:26:56 AM

The "fight" that you guys have about UK or USA or basically just lets say "west" to nations the in the east, such as Russia and China, is lovely to see by people who are not from any of those nations. I suggest you keep that up, we love it when West fights East, and vice versa, it benefits us the most.

I do hope that USA economy crashes, I also hope Chinese one too, and UK too and Russia too, when that happens, it always benefits us from smaller nations, at least nations that are not that big. We benefit from the crumbs when the cake is gone, and if it is like this, I am all for it. I believe that the reality is that crypto will be getting greater and greater, we are going to keep seeing people invest a lot more to it.

Tell me - what is your benefit, for you and your country, of the collapse of the economies of China and the USA ? Just please elaborate - what will happen, what will be affected, what positive aspects will be for you/your country. Also please tell us how you assess the risks of the world economy, after the collapse of the economies of China and the U.S., and why it will not affect your country, of course - negatively will not affect ? I would like to understand what your country's economy can give to the world, in the absence of the above two, given the real problems of the world ?

pooya87

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Quote from: pinggoki on January 14, 2024, 04:56:03 AM

it's still a good thing that they somehow intervened

The tens of millions of people who were murdered by US regime's interventions across the world would disagree with you.

Quote from: pinggoki on January 14, 2024, 04:56:03 AM

I mean imagine a world rife of communists.

Yeah we don't have a world with communist ruling it, instead we are witnessing a world where imperialists and colonizers took over. Their most recent murdering rampage is a genocide that is still going on inside Palestine where in the past 100 days they're leaving behind 1000 casualties every day, half of them are children!

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To some degree they'll probably move the bitcoin market but they're still in infancy so I don't think that they're going to influence too much but I think they'll affect the world market even more than the bitcoin market so it's not really a problem for us anytime soon.

Quote from: pooya87 on January 14, 2024, 12:45:35 AM

If USA didn't exist or hadn't meddled in that region, the conflict there wouldn't have gotten to this stage and Japan hadn't been nuked and occupied all these years not allowing them to even have a half decent military so they wouldn't have been in any danger to begin with Tongue

If US didn't stop the rampage of Japan in the Pacific theatre, there's a possibility that Korea wouldn't even be a thing anymore because Japan would've kept a foothold there for so long that we would've just accepted that Korea is just a part of the Imperial Japan. I feel like there's been a lot of apocalypse events that would've happened if the US didn't interfere at some level, even if we were to say that they're an opportunist it's still a good thing that they somehow intervened, I mean imagine a world rife of communists.

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Quote from: DVlog on January 13, 2024, 03:51:13 PM

Quote from: dezoel on January 12, 2024, 11:26:56 AM

The "fight" that you guys have about UK or USA or basically just lets say "west" to nations the in the east, such as Russia and China, is lovely to see by people who are not from any of those nations. I suggest you keep that up, we love it when West fights East, and vice versa, it benefits us the most.

I do hope that USA economy crashes, I also hope Chinese one too, and UK too and Russia too, when that happens, it always benefits us from smaller nations, at least nations that are not that big. We benefit from the crumbs when the cake is gone, and if it is like this, I am all for it. I believe that the reality is that crypto will be getting greater and greater, we are going to keep seeing people invest a lot more to it.

Yes, let all the major power's economies crash and all the smaller nations start fighting with each other which will lead to World War 3. Great idea after all i must say. This will also help to reduce the over population problem of the earth. A powerful nation is essential to keep stability in the world because just think what North Korean would do if the USA didn't exist. south Korea would be no more and japan would also be in danger do you think little kim would stop there?

If the USA economy crashes it will create such instability in worldwide economy that we don't know its aftermath. Crypto will also be affected because there is so much USD inflow in crypto than other currencies.

Most likely it will happen in the near future. The world is changing, it became obvious a decade ago, but it became even more obvious after the beginning of the full-scale war russia started against Ukraine. The big countries feel their power, might and even right to invade smaller states. The result of these wars will show how exactly the situation will unfold further. We don't know the aftermath, that's for sure. But what we know is that the world cannot exist no longer the way it has been for the last 60-70 years, when it was obvious which country was a global leader and mentor. This role is more vacant now than years before.

pooya87

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Quote from: DVlog on January 13, 2024, 03:51:13 PM

think what North Korean would do if the USA didn't exist. south Korea would be no more and japan would also be in danger do you think little kim would stop there?

If USA didn't exist or hadn't meddled in that region, the conflict there wouldn't have gotten to this stage and Japan hadn't been nuked and occupied all these years not allowing them to even have a half decent military so they wouldn't have been in any danger to begin with Tongue

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Quote from: DrBeer on January 13, 2024, 03:30:46 PM

1. the BRICS was not originally an "alliance against the dollar", it was an alliance "for regional development". It is enough to read about the history, goals. But then, somewhere in the last 2-3 years, China started to actively stir up information noise about "de-dollarization" and quietly began to promote "yuanization"/ It was at this point that BRICS turned from a union, an economic union with good potential, into a political squabble and a club of saviors of the Chinese economy. As a result, they lost the unity of goals and prospects for consolidated development, which is now well observed. Argentina has left the union, India does not want China's hegemony, China is not very successful in pushing its yuan...At the same time it is quietly accumulating dollar reserves and US government bonds, while continuing to incite everyone else to give it up

I think many people have already realized WHY China is doing this.....

2. Regarding the real reserves of China and Russia - no one doubts that there is a huge gap between their statements and the real state of affairs

might want to check the BIS website.. not social media
its not a YUANIZATION
its not a scenario of all countries using the YUAN
its instead multiple CBDC collectively swapping via an m-bridge with no single "reserve" master currency
each country has its own CBDC

DVlog

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Quote from: dezoel on January 12, 2024, 11:26:56 AM

The "fight" that you guys have about UK or USA or basically just lets say "west" to nations the in the east, such as Russia and China, is lovely to see by people who are not from any of those nations. I suggest you keep that up, we love it when West fights East, and vice versa, it benefits us the most.

I do hope that USA economy crashes, I also hope Chinese one too, and UK too and Russia too, when that happens, it always benefits us from smaller nations, at least nations that are not that big. We benefit from the crumbs when the cake is gone, and if it is like this, I am all for it. I believe that the reality is that crypto will be getting greater and greater, we are going to keep seeing people invest a lot more to it.

Yes, let all the major power's economies crash and all the smaller nations start fighting with each other which will lead to World War 3. Great idea after all i must say. This will also help to reduce the over population problem of the earth. A powerful nation is essential to keep stability in the world because just think what North Korean would do if the USA didn't exist. south Korea would be no more and japan would also be in danger do you think little kim would stop there?

If the USA economy crashes it will create such instability in worldwide economy that we don't know its aftermath. Crypto will also be affected because there is so much USD inflow in crypto than other currencies.

DrBeer

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Quote from: ObscurePen on January 10, 2024, 01:59:20 AM

BRICS is a rather feeble attempt by countries to overturn the US petrodollar... not gonna happen. Its pointless really because to trade with any non BRICS country they have to resort back to the US dollar. And even if they use a gold backed currency US owns the largest gold reserves in the world.

Quote from: Kakmakr on December 29, 2023, 01:09:02 AM

A lot of these countries started to use Crypto currencies like Bitcoin to bypass these restrictions, so it will be natural that less demand for Bitcoin would occur, once these countries created their own single currency.

What is your source for this? I haven't heard anything that is noteworthy. Plus wasn't Bitcoin banned like 10 times in China. And I'm pretty sure Saudi Arabia has a ban on it too. So in short no it won't influence Bitcoin.

Quote from: DrBeer on January 05, 2024, 08:47:07 AM

Quote from: BenCodie on January 04, 2024, 05:20:18 PM

Quote from: Kakmakr on December 29, 2023, 01:09:02 AM

Do you think BRICS countries might opt to use Bitcoin for international trade or even as a replacement for the US Dollar? Will they simply exchange local currencies OR will they develop something new? ( Something that can be controlled by them?)

I think, since China already have the Digital Yuan and India have a strong developer community in big name projects (like Polygon), the option that makes most sense is that a native cryptocurrency/"stable" blockchain will be created for international trade, with some sort of backing (like Gold, considering China and Russia have a TON of gold in comparison to other nations).

Simple question - can anyone confirm gold reserves in Russia and China?
I will answer:
1. China has classified all information about gold reserves, volumes, structure, etc. Therefore, what is publicized is only words.
2. Russia, being a pariah country with a degenerating economy, sells gold and ... constantly lies about everything. From its "greatness" to ... yes yes, gold reserves.

So, I would definitely not use this information as a basis for any conclusions.

In comparison these countries have nowhere near what the US has. https://www.gold.org/goldhub/data/gold-reserves-by-country

1. the BRICS was not originally an "alliance against the dollar", it was an alliance "for regional development". It is enough to read about the history, goals. But then, somewhere in the last 2-3 years, China started to actively stir up information noise about "de-dollarization" and quietly began to promote "yuanization"/ It was at this point that BRICS turned from a union, an economic union with good potential, into a political squabble and a club of saviors of the Chinese economy. As a result, they lost the unity of goals and prospects for consolidated development, which is now well observed. Argentina has left the union, India does not want China's hegemony, China is not very successful in pushing its yuan...At the same time it is quietly accumulating dollar reserves and US government bonds, while continuing to incite everyone else to give it up

I think many people have already realized WHY China is doing this.....

2. Regarding the real reserves of China and Russia - no one doubts that there is a huge gap between their statements and the real state of affairs

dezoel

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The "fight" that you guys have about UK or USA or basically just lets say "west" to nations the in the east, such as Russia and China, is lovely to see by people who are not from any of those nations. I suggest you keep that up, we love it when West fights East, and vice versa, it benefits us the most.

I do hope that USA economy crashes, I also hope Chinese one too, and UK too and Russia too, when that happens, it always benefits us from smaller nations, at least nations that are not that big. We benefit from the crumbs when the cake is gone, and if it is like this, I am all for it. I believe that the reality is that crypto will be getting greater and greater, we are going to keep seeing people invest a lot more to it.

pooya87

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Quote from: Synchronice on January 12, 2024, 04:04:40 AM

France becomes weaker and more destroyed than Afghanistan? Simply, how do you predict that? French has great universities, educated population, good infrastructure, good logistics, good doctors and many other benefits over many other country, especially over Afghanistan. There is simply no way that France will become weaker or more destroyed than Afghanistan, there is simply no way unless nuclear weapons explode on their heads.

Situation in Afghanistan isn't bad because they didn't have great universities, doctors, infrastructure, etc. Have you even seen Afghanistan before the foreigners came to fight their wars there? It was one of the most beautiful and modern places on earth at the time.

Europe without colonies goes back to dark ages, the most recent one was the 20'th century. Each year with wars amongst different regional powers that destroyed each other. The only time they haven't been at each other's throats has been over the past couple of decades after European War 2 (aka World War 2).
So yes, I do believe that France without its colonies (eg. if Africans keep kicking them out and most importantly if they can get rid of the colonization tools such as the plague called Franc) would be on a devastating path starting from devastation of its economy and followed by regional conflicts. Wars that would destroy all its infrastructure just like what the colonizers did to Afghanistan.

Quote

By the way, what will happen to China if America stops trading with them? Won't their economy be in severe trouble?

It will crash hard but it will survive because US is not the only export target China has and Chinese economy and GDP as I keep repeating is not a Ponzi Scheme like US economy is, it is based on actual domestic production.

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Quote from: Volimack on January 12, 2024, 05:40:12 AM

The creation of BRICS currency as an alternative to Bitcoin is a kind of fantasy or unrealistic. If countries want to unite and introduce a single currency system the influence of the largest and most powerful economy must be accepted. Apart from the core BRICS countries other countries are also doing business in local currencies. But creating an alternative to Bitcoin would be an attempt to change the structure of global governance in general terms.

I think you misunderstand the motivating factor for the establishment of this group, they do not want the participation of the strong Western countries.

They want to establish a "New" competition for the Western dominance by the West over the global economy. Those coutries misused their "power" according to them to advantage their own pockets.

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The creation of BRICS currency as an alternative to Bitcoin is a kind of fantasy or unrealistic. If countries want to unite and introduce a single currency system the influence of the largest and most powerful economy must be accepted. Apart from the core BRICS countries other countries are also doing business in local currencies. But creating an alternative to Bitcoin would be an attempt to change the structure of global governance in general terms.

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Quote from: Synchronice on January 12, 2024, 04:04:40 AM

Quote from: pooya87 on January 10, 2024, 10:57:49 PM

Something interesting to point out is that US,UK,EU need China and their colonies to survive. For example the day France loses its African colonies is the day that it becomes a country weaker and more destroyed than Afghanistan! Or for example if China stopped its exports to US completely today, tomorrow US economy would be crippled with severe shortage of strategic goods leading to domestic chaos.

France becomes weaker and more destroyed than Afghanistan? Simply, how do you predict that? French has great universities, educated population, good infrastructure, good logistics, good doctors and many other benefits over many other country, especially over Afghanistan. There is simply no way that France will become weaker or more destroyed than Afghanistan, there is simply no way unless nuclear weapons explode on their heads.
By the way, what will happen to China if America stops trading with them? Won't their economy be in severe trouble?

It would be a bit of an exaggeration to say that France would be more destroyed than Afghanistan when it lost its African colonies, but it cannot be denied that with the loss of its African colonies, France would be somewhat weaker.

As for China and the US, both will be devastated if they stop trading with each other in all fields. In my opinion, although BRICS and the US will confront each other in many fields, our world is a chain and each country is closely linked in certain aspects. Therefore, they cannot completely cut off contact with each other in all fields no matter what happens.
China needs the US to be able to export goods and vice versa, the US also needs a large supplier of goods like China, it can be said that both need each other to survive.

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Quote from: pooya87 on January 10, 2024, 10:57:49 PM

Something interesting to point out is that US,UK,EU need China and their colonies to survive. For example the day France loses its African colonies is the day that it becomes a country weaker and more destroyed than Afghanistan! Or for example if China stopped its exports to US completely today, tomorrow US economy would be crippled with severe shortage of strategic goods leading to domestic chaos.

France becomes weaker and more destroyed than Afghanistan? Simply, how do you predict that? French has great universities, educated population, good infrastructure, good logistics, good doctors and many other benefits over many other country, especially over Afghanistan. There is simply no way that France will become weaker or more destroyed than Afghanistan, there is simply no way unless nuclear weapons explode on their heads.
By the way, what will happen to China if America stops trading with them? Won't their economy be in severe trouble?

Quote from: franky1 on January 10, 2024, 11:16:44 PM

india is the fashion nation china needs, china is the tech nation india need
both dont need usa to survive

just based on number of consumers
(US,UK,Canada,EU) 340M+70M+40M+450M = LESS THAN india alone
china can drop uk,us,eu,canada 100% and live on serving india more
add in south america, africa, middle east, rest of asia and the brics wont even notice the US(lack of)

What do you mean in a fashion nation? Clothing/shoes manufacturing? And that's all India needs to fulfill China? And how are Indians going to buy Chinese goods? EU, US and allies have too much power to ignore.

Quote from: franky1 on January 11, 2024, 12:30:52 PM

not sure why you dont see how the likes of Xiaomi phone brand in india suddenly jumped in demand. and how sony is not even close
heck sony is not even in india's top 10 popular phone brand

Are Indians able to buy new smartphones every year? Or are majority of their population able to pay a lot of money into it?
There is a big difference between BRICS and US/EU. I have never seen someone leaving EU or the USA to move in India or Brazil to start a better life while millions of people move from BRICS to US/EU to survive and feed their families. There are so many things that people ignore.

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Quote from: NotATether on January 11, 2024, 03:31:00 AM

Quote from: franky1 on January 10, 2024, 11:16:44 PM

india is the fashion nation china needs, china is the tech nation india need
both dont need usa to survive

just based on number of consumers
(US,UK,Canada,EU) 340M+70M+40M+450M = LESS THAN india alone
china can drop uk,us,eu,canada 100% and live on serving india more
add in south america, africa, middle east, rest of asia and the brics wont even notice the US(lack of)

That only works when everyone in India can be made into a chinese tech customer and stop buying products from western companies.

They're not gonna buy tech stuff from China if the majority of the tech they are buying comes from Apple, Samsung, Sony, etc. Temu, Shein and AliExpress are taking ground here but it's not enough to make the average person flip.

It's harder than you think.

this topic is about brics right... now tell me the 'I' of BR'I'CS
if brics really does rally together to not rely on the west.. the I will use the C

not sure why you dont see how the likes of Xiaomi phone brand in india suddenly jumped in demand. and how sony is not even close
heck sony is not even in india's top 10 popular phone brand

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Quote from: franky1 on January 10, 2024, 11:16:44 PM

india is the fashion nation china needs, china is the tech nation india need
both dont need usa to survive

just based on number of consumers
(US,UK,Canada,EU) 340M+70M+40M+450M = LESS THAN india alone
china can drop uk,us,eu,canada 100% and live on serving india more
add in south america, africa, middle east, rest of asia and the brics wont even notice the US(lack of)

That only works when everyone in India can be made into a chinese tech customer and stop buying products from western companies.

They're not gonna buy tech stuff from China if the majority of the tech they are buying comes from Apple, Samsung, Sony, etc. Temu, Shein and AliExpress are taking ground here but it's not enough to make the average person flip.

It's harder than you think.

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Quote from: pooya87 on January 10, 2024, 10:57:49 PM

Quote from: franky1 on January 09, 2024, 06:04:57 PM

did you know that india has more population than the US, UK, Europe put together
so china just needs to do more trade deals with india to offset losses from US, UK, Europe
add in south america. means china can gain customers
add in africa means china can gain customers

thus no need to cater to US,UK, EU to survive

It won't work with India because India is basically China's competitor that wants to replace it to to trade with each other. So the trades between them can not be high.
You are correct about the rest of the world though as China is working globally.

Something interesting to point out is that US,UK,EU need China and their colonies to survive. For example the day France loses its African colonies is the day that it becomes a country weaker and more destroyed than Afghanistan! Or for example if China stopped its exports to US completely today, tomorrow US economy would be crippled with severe shortage of strategic goods leading to domestic chaos.

india is the fashion nation china needs, china is the tech nation india need
both dont need usa to survive

just based on number of consumers
(US,UK,Canada,EU) 340M+70M+40M+450M = LESS THAN india alone
china can drop uk,us,eu,canada 100% and live on serving india more
add in south america, africa, middle east, rest of asia and the brics wont even notice the US(lack of)

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Quote from: franky1 on January 09, 2024, 06:04:57 PM

did you know that india has more population than the US, UK, Europe put together
so china just needs to do more trade deals with india to offset losses from US, UK, Europe
add in south america. means china can gain customers
add in africa means china can gain customers

thus no need to cater to US,UK, EU to survive

It won't work with India because India is basically China's competitor that wants to replace it to to trade with each other. So the trades between them can not be high.
You are correct about the rest of the world though as China is working globally.

Something interesting to point out is that US,UK,EU need China and their colonies to survive. For example the day France loses its African colonies is the day that it becomes a country weaker and more destroyed than Afghanistan! Or for example if China stopped its exports to US completely today, tomorrow US economy would be crippled with severe shortage of strategic goods leading to domestic chaos.

Topic: How will the BRICS currency influence Bitcoin? - page 4. (Read 1303 times)