Is it possible? | Bitcointalksearch.org

yudi09

hero member

Activity: 1316

Merit: 787

Rollbit - The #1 Solana Casino

Quote from: Mame89 on December 06, 2024, 01:56:49 PM

Quote from: yudi09 on December 05, 2024, 02:32:23 AM

Many crypto traders and investors are using USD as their buying and selling pair for crypto, which will make BRICS' efforts to successfully dedollarize even more difficult, especially now that Trump's impact is very positive for the price movements of Bitcoin and other crypto coins.

Yes, that's right. Since Trump won the US election, it seems that BRICS' efforts to dedollarize the USD will be increasingly difficult because Trump is very supportive of crypto technology. And although it is impossible, it does not mean it is impossible as the OP said, it could happen someday. Just look at Trump's steps now to make bitcoin a state reserve asset, this proves that Trump is serious about supporting bitcoin.

I don't want to say that what the OP said is impossible, but my view of BRISC is like a discussion to heat up the market.
Trump has shown people to handle the crypto and artificial technology section. Regarding Trump's seriousness in supporting Bitcoin, for now yes. But for a minimum period of time while he leads America, that's not necessarily true. It could be that within two years his commitment will change.
Above, someone has said that Trump has begun to make serious threats to BRICS to stop the Dollar.

Fivestar4everMVP

legendary

Activity: 2422

Merit: 1083

Leading Crypto Sports Betting & Casino Platform

Quote from: bangjoe on December 03, 2024, 08:28:53 AM

The hegemony of the dollar is likely to collapse due to the continued dedollarization by countries that do not benefit, especially those that are already members of the BRICS, this move will narrow the Dollar as a global reserve currency, a bad step to maintain the power of the Dollar is to use militarization to countries that threaten its sovereignty, but there is a possibility that a second step that is one of the options for the US to manage global finance is to go further into the digitalization of the currency, they will definitely build technology companies which sustains the development of an era like crypto currency, therefore it is very likely that they will take a position in the crypto industry for where people keep money and they will still have global financial power by using crypto.
They will do the same by using crypto. IMO

I'm still thinking about this, please share your opinion.

Anything fiat currencies can not be trusted at the moment, whether it be the dollar, pound, euro, whatever, I really can not place any form of trust in them, some financial advisors who are into cryptocurrency have adviced people to shift/move their money from us dollar to bitcoin, because a time is coming when the dollar will collapse, and only those who hold their money in bitcoin will survive the crash.

I don't have deep knowledge when it comes to things that have to do with the fiat currency system of the world, so, it's not possible for me to emphasize more on this matter, but then, what I have to say and advise us is that, only keep money you are willing or going to spend immediately in fiat, like myself, I only keep in naira, money I am going to spend either immediately or in a couple of hours of very few days, for if for example, the dollar is to collapse, creating a digital dollar won't help because it will definitely have do be 1:1 ratio with the supply of paper dollar, else, one could gain more value than the other.

fuguebtc

hero member

Activity: 1974

Merit: 539

Leading Crypto Sports Betting & Casino Platform

Quote from: AprilioMP on December 06, 2024, 11:57:34 AM

Trump demanded a commitment from the BRICS countries not to create a new currency to replace the dollar. Trump said this on his twitter account a day ago.
https://x.com/realDonaldTrump/status/1863009545858998512

If I read the entire contents of Trump's tweet, I think their issues and plans to break dependence on the Dollar in world trade seem helpless or just plans that have no sign of success because until now the might of the Dollar has not been replaced. If they want to replace the Dollar, in my opinion why don't they have a discourse to use other existing currencies such as the Euro [EUR] or the pound. The Euro and Pound are big currencies while the currency that BRICS wants to create still needs time to be made so that it is as powerful as the Dollar.

The goal of BRICS is not only to reduce dependence on the USD but also to create a multipolar world that is not dependent on the United States or its allies . Meanwhile, Europe is a close ally of the United States , so using the pound or the euro to replace the dollar would not make any difference and is not their goal .

While I support BRICS and the de-dollarization initiative , but I am not optimistic that the bloc will make any progress under Trump. Trump unlike Biden or any other Democratic candidate, he will not easily let the dollar weaken, let alone lose its dominance. I think the BRICS plan will be delayed at least until Trump's term ends .

tygeade

legendary

Activity: 2086

Merit: 1058

Quote from: BALIK on December 04, 2024, 08:12:44 AM

His campaign slogan is “Make America Great Again” and given what he has done in his first term, it is no surprise that he would take a tough stance on BRICS.

Although the BRICS dedollarization process has been relatively slow, significant results have been achieved. But with Trump elected, this is certainly not good news for their de-dollarization process. I think there are two possible scenarios: either the de-dollarization process will be delayed for a while, or a surprise scenario will occur when Trump puts pressure on BRICS, causing the process to be accelerated.

Let's wait and see what happens but I'm leaning towards scenario 1. De-dollarization will be paused for a while under Trump.

Considering his tariff situation will make inflation go insanely high, he is not going to make America great again, he is going to make America broke again. This isn't some assumption, that's literally how economy works, if you can't get cheaper products, and you can't have local alternatives ready, then you are not going to pay the same prices, it will cost you more, and when things cost more, that's called inflation. That's literally what this entire 100% tariff strong arm thing that he is fighting with right now, and if he actually does it, Americans will realize (well republicans) doing that hurts them more than it hurts the other side.

China, Canada, Mexico, they can all find buyers for their stuff one way or another, even illegally if they prefer, or just other places simply, but USA will have a cost increase that will hurt the Americans a lot, so even if those other nations fail and get broke, that will not stop USA getting broke as well, he will just make all these nations go broke together.

Mame89

hero member

Activity: 1736

Merit: 501

Quote from: yudi09 on December 05, 2024, 02:32:23 AM

The BRICS movement is certainly not new, but they have long held various meetings to discuss how BRICS can break their dependence on the US Dollar but the results are not as expected because the Dollar is still strong in global trade affairs.
The initial intention of BRICS is good, but at first glance it looks like there is even a political charge.

Although this seems politically motivated, it is still good, even without political motives BRICS does not work. The combination of BRICS is very good to balance the power of America which controls the world economy with the Dollar currency. With BRICS, America can no longer control the world economy and will weaken and let its economy collapse, besides with the combination of BRICS, America no longer dares to suppress poor countries. this is the point

Quote

Many crypto traders and investors are using USD as their buying and selling pair for crypto, which will make BRICS' efforts to successfully dedollarize even more difficult, especially now that Trump's impact is very positive for the price movements of Bitcoin and other crypto coins.

Yes, that's right. Since Trump won the US election, it seems that BRICS' efforts to dedollarize the USD will be increasingly difficult because Trump is very supportive of crypto technology. And although it is impossible, it does not mean it is impossible as the OP said, it could happen someday. Just look at Trump's steps now to make bitcoin a state reserve asset, this proves that Trump is serious about supporting bitcoin.

AprilioMP

sr. member

Activity: 588

Merit: 438

Forum Only For Fun

Quote from: laijsica on December 04, 2024, 10:08:02 AM

The trend of introducing a separate currency system for the BRICS countries could be positive for the global economy. The 9-nation trade bloc is making every effort to reduce its dependence on the dollar and its implementation could revolutionize trade. However, newly elected US President Donald Trump has already expressed hope that the BRICS countries will not support any currency to replace the dollar. He also said that if the countries do so, the US may decide to impose 100% tariffs.

News Link: https://www.firstpost.com/explainers/why-donald-trump-threatening-brics-against-dedollarisation-13840828.html

This is basically a strategy to make the global single currency system stronger. In this way, the US has been dominating the world in the long term and through this process, they are trying to make the dollar a stronger currency in the global economy.

Trump demanded a commitment from the BRICS countries not to create a new currency to replace the dollar. Trump said this on his twitter account a day ago.
https://x.com/realDonaldTrump/status/1863009545858998512

If I read the entire contents of Trump's tweet, I think their issues and plans to break dependence on the Dollar in world trade seem helpless or just plans that have no sign of success because until now the might of the Dollar has not been replaced. If they want to replace the Dollar, in my opinion why don't they have a discourse to use other existing currencies such as the Euro [EUR] or the pound. The Euro and Pound are big currencies while the currency that BRICS wants to create still needs time to be made so that it is as powerful as the Dollar.

X-ray

hero member

Activity: 3066

Merit: 536

Leading Crypto Sports Betting & Casino Platform

isn't USDT and any USD pegged stablecoin already doing exactly that, dollar doesn't need CBDC to already dominate crypto, right now most of the pair you see already using USD and i don't see it going anywhere, recently Tether just trying to trim down expenses for EURT and ending support in certain blockchain meanwhile USDT just going strong until now.

the hegemony of dollar in various sector of economy isn't collapsing nor going down, it's still the most dominant force in economy world wide.

MarjorieZimmermanGinger

hero member

Activity: 1526

Merit: 812

Leading Crypto Sports Betting & Casino Platform

Quote from: bangjoe on December 03, 2024, 08:28:53 AM

The hegemony of the dollar is likely to collapse due to the continued dedollarization by countries that do not benefit, especially those that are already members of the BRICS, this move will narrow the Dollar as a global reserve currency, a bad step to maintain the power of the Dollar is to use militarization to countries that threaten its sovereignty, but there is a possibility that a second step that is one of the options for the US to manage global finance is to go further into the digitalization of the currency, they will definitely build technology companies which sustains the development of an era like crypto currency, therefore it is very likely that they will take a position in the crypto industry for where people keep money and they will still have global financial power by using crypto.

To destroy a system that is already strong is very difficult and the most that can be done is to compete? If the efforts made by the BRICS to destroy the dollar's dominance over the system that has been built, then I doubt that BRICS will achieve success because to see opportunities they are still not strong and there are still many things that need to be done. The US has a big influence on world expansion and they certainly understand how to protect the existing system. Recently they have started to approach the digitalization of the currency and the reserves have been prepared, I think the next step will be a reflection of how the president-elect can make more favorable policies and the dollar is still a strong currency even though anyone tries to disrupt their dominance.

uneng

hero member

Activity: 2044

Merit: 784

Leading Crypto Sports Betting & Casino Platform

Dollar is still hegemonic in the world. There is a lot of FUD regards this matter in an attempt to boost groups ruled by China and Russia, like BRICS, although in reality things don't work that way, and dollar currency having much more credibility. CBDCs aren't useful, because we already have digital dollar through debit and credit cards, which have the same function of a potential CBDC.

Therefore, I don't think it's likely any replacement involving CBDCs over dollar or other fiat currencies are going to happen any time soon.

jaberwock

legendary

Activity: 2660

Merit: 1074

Quote from: Wexnident on December 04, 2024, 07:54:36 AM

We'd probably be long dead if ever dollar was to be removed from its place lol. And even if it was actually to be removed, at most it would be equal to whatever it's going to be replaced by just by the fact that it's been one for so long and that the government probably wouldn't allow it to go below even that. And that's if the government would be that incompetent to let the dollar value go rock bottom. Highly doubt that would happen, at least not with Trump in the seat.

We are now in the future and there are now digital payment methods and cryptos but look at the dollar, it is still there and still being considered by the many, no wonder why it is still strong. I believe that the situation will still be like this even in the future or most of us are not existing anymore in this planet.

But if let say it was still removed, that means it is not powerful as before anymore and then the ones that will replaced it is now more stronger than it. If the government truly doesn't want the dollar to go below than the ones that they will replaced to it, then they should have saved it earlier. It doesn't need to end up like that now. Back to the reality, again, indeed it won't happen because America had strong leaders and this makes their country to develop like that (fast enough), and as you said, especially now that Trump is at the control again because he is a great guy and knows how to do his thing.

el kaka22

legendary

Activity: 3710

Merit: 1170

www.Crypto.Games: Multiple coins, multiple games

Dollar won't really go that badly, I believe it will do fine, too many people think that dollar will lose value and to be fair it WILL lose value, in the sense that there is inflation, of course dollar is not as valuable as it was twenty years ago, but if we are talking about losing value compared to other fiats, there is no other fiat in the world that is stronger, so it will keep being the most powerful fiat in the world, that won't change.

It won't change even if BRICS somehow make their currency, which I feel like they won't, it seems like there are disagreements over it already, so I doubt that will happen and even if it does, these are nations that do not agree with each other, they do have common enemy, but they do not have common understanding together, so dollar will stay the strongest no matter what happens. Losing value isn't a problem, USA lost value in the last five years, more than any other time in history, even more than the 20's great depression, no idea how that was a huge thing and we are now doing worse and everyone acts like it's okay, but yet, even with all of this terribleness, it's still the best currency because others are doing even worse at the moment and that's what matters.

Iranus

hero member

Activity: 1792

Merit: 534

Leading Crypto Sports Betting & Casino Platform

Quote from: Darker45 on December 04, 2024, 09:07:10 PM

I think the US dollar's collapse isn't going to be caused by dedollarisation efforts of certain countries. The fate of the USD lies in the economy of the US. If the economy of the US remains strong, the USD remains strong in the global setup. If the US economy weakens, the USD's role in global finances weakens as well.

To create a digital USD doesn't really matter. It doesn't address real issues. If the US economy falls, it doesn't matter whether it has a digital USD or not. A digital USD cannot save them.

The US uses USD to influence the world, they force the world to use USD and thereby boost their economy in many different ways. So if the USD weakens in the international market, this will directly impact their economy. It can be said that the US economy and the USD have a close and mutually supportive relationship. If one of the two weakens, it will negatively affect the other.

That is why they fear the BRICS de-dollarization plan but under the Biden administration, they do not have a clear policy to address this issue. But under Trump, he will do everything he can to prevent the world from abandoning the dollar, and the US economy will continue to thrive.

I agree, a digital USD won't solve anything if they can't protect the strength of the USD or sustain the economy.

yudi09

hero member

Activity: 1316

Merit: 787

Rollbit - The #1 Solana Casino

Quote from: bangjoe on December 03, 2024, 08:28:53 AM

The hegemony of the dollar is likely to collapse due to the continued dedollarization by countries that do not benefit, especially those that are already members of the BRICS, this move will narrow the Dollar as a global reserve currency, a bad step to maintain the power of the Dollar is to use militarization to countries that threaten its sovereignty, but there is a possibility that a second step that is one of the options for the US to manage global finance is to go further into the digitalization of the currency, they will definitely build technology companies which sustains the development of an era like crypto currency, therefore it is very likely that they will take a position in the crypto industry for where people keep money and they will still have global financial power by using crypto.
They will do the same by using crypto. IMO

I'm still thinking about this, please share your opinion.

The BRICS movement is certainly not new, but they have long held various meetings to discuss how BRICS can break their dependence on the US Dollar but the results are not as expected because the Dollar is still strong in global trade affairs.
The initial intention of BRICS is good, but at first glance it looks like there is even a political charge.

Many crypto traders and investors are using USD as their buying and selling pair for crypto, which will make BRICS' efforts to successfully dedollarize even more difficult, especially now that Trump's impact is very positive for the price movements of Bitcoin and other crypto coins.

icalical

sr. member

Activity: 1400

Merit: 268

Fully Regulated Crypto Casino

I do like the idea of ending USD hegemony, but I think the reality is that BRICS don't have the financial infrastructure and also political consensus to make them quickly move away from the dollar, at least for now. Even the recent decisions of BRICS, including the BRICS Cross-Border Payments Initiative, are still non binding and voluntary, making their immediate impact limited. For the US, crypto or CBDC would only further improve its financial system and wouldn't displace the dollar's global role. Deep and trusted financial markets in the United States are still a haven around the world. While dedollarization and digitalization are trends in the future, they are long term processes that do not promise to unseat the dollar as the world's reserve currency anytime soon.

Darker45

legendary

Activity: 2576

Merit: 1860

I think the US dollar's collapse isn't going to be caused by dedollarisation efforts of certain countries. The fate of the USD lies in the economy of the US. If the economy of the US remains strong, the USD remains strong in the global setup. If the US economy weakens, the USD's role in global finances weakens as well.

To create a digital USD doesn't really matter. It doesn't address real issues. If the US economy falls, it doesn't matter whether it has a digital USD or not. A digital USD cannot save them.

batang_bitcoin

hero member

Activity: 3080

Merit: 603

Quote from: kotajikikox on December 04, 2024, 02:23:36 AM

Quote from: batang_bitcoin on December 03, 2024, 03:44:40 PM

I have also thought about that and with Trump going in the office on January, this is what he had said through his X account a few days ago. I think that he'd do everything to stop or slow down what BRICS is trying to do. He'd focus on US first and foremost before getting along with the outside concerns of the country.

To be fair, I think that if Trump just focuses on the US dollar it will automatically sort out whatever is happening outside of the country. BRICS’s purpose or goal is to break the dollar but if Trump is able to strengthen the US dollar it can fight against BRICS on its own. That action in itself can fight off any dedollarization rumors going on.

Trump seems to have good plans for their economy and bitcoin being part of it can also be beneficial to crypto enthusiasts outside of US. We might see some significant changes in the US in these next few months in terms of their economic growth.

Many are predicting that he'll be able to "make America great again". And that's why his stance against the BRICS looks going to be the target that he's going to have for his administration the second time around. He has already mentioned about illegal immigrants and that's one way of showing that if he focuses on his own backyard, he's likely to strengthen his policies and economy.

Quote from: TravelMug on December 04, 2024, 03:34:15 AM

Quote from: batang_bitcoin on December 03, 2024, 03:44:40 PM

I have also thought about that and with Trump going in the office on January, this is what he had said through his X account a few days ago. I think that he'd do everything to stop or slow down what BRICS is trying to do. He'd focus on US first and foremost before getting along with the outside concerns of the country.

Quote from: https://x.com/realDonaldTrump/status/1863009545858998512

The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy. They can go find another “sucker!” There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America.

Of course as US president he will protect the US dollar as all cost.

But if you have to think about it, BRICS has been trying to bring de-dollarization for years and yet Dollar remain strong as the only money that is still being used around the globe in terms of financial and economics.

So I doubt that they will succeed on their aim, maybe just a few countries outside of BRICS, however, it doesn't make sense at all if they will go against international trade as they will be the one going to suffer. So the only way is to continue using the US dollar, simply as that.

While there are some physical wars that are being supported by the current leadership of US. There goes the psychological and trade war that's also happening so, he has to get into his feet first before going on somewhere else to support the physical wars that are happening. It's true that despite that there's BRICS, it will take time for them to at least get a move against the US dollars. Otherwise, we know where is this going, all of their efforts are going to be recognized but they're not going to be close into successful dedollarization.

laijsica

full member

Activity: 126

Merit: 93

The trend of introducing a separate currency system for the BRICS countries could be positive for the global economy. The 9-nation trade bloc is making every effort to reduce its dependence on the dollar and its implementation could revolutionize trade. However, newly elected US President Donald Trump has already expressed hope that the BRICS countries will not support any currency to replace the dollar. He also said that if the countries do so, the US may decide to impose 100% tariffs.

News Link: https://www.firstpost.com/explainers/why-donald-trump-threatening-brics-against-dedollarisation-13840828.html

This is basically a strategy to make the global single currency system stronger. In this way, the US has been dominating the world in the long term and through this process, they are trying to make the dollar a stronger currency in the global economy.

BALIK

copper member

Activity: 2282

Merit: 608

🍓 BALIK Never DM First

Quote from: TravelMug on December 04, 2024, 03:34:15 AM

Of course as US president he will protect the US dollar as all cost.

But if you have to think about it, BRICS has been trying to bring de-dollarization for years and yet Dollar remain strong as the only money that is still being used around the globe in terms of financial and economics.

So I doubt that they will succeed on their aim, maybe just a few countries outside of BRICS, however, it doesn't make sense at all if they will go against international trade as they will be the one going to suffer. So the only way is to continue using the US dollar, simply as that.

His campaign slogan is “Make America Great Again” and given what he has done in his first term, it is no surprise that he would take a tough stance on BRICS.

Although the BRICS dedollarization process has been relatively slow, significant results have been achieved. But with Trump elected, this is certainly not good news for their de-dollarization process. I think there are two possible scenarios: either the de-dollarization process will be delayed for a while, or a surprise scenario will occur when Trump puts pressure on BRICS, causing the process to be accelerated.

Let's wait and see what happens but I'm leaning towards scenario 1. De-dollarization will be paused for a while under Trump.

Wexnident

hero member

Activity: 2702

Merit: 672

I don't request loans~

Quote from: bangjoe on December 03, 2024, 08:28:53 AM

~

We'd probably be long dead if ever dollar was to be removed from its place lol. And even if it was actually to be removed, at most it would be equal to whatever it's going to be replaced by just by the fact that it's been one for so long and that the government probably wouldn't allow it to go below even that. And that's if the government would be that incompetent to let the dollar value go rock bottom. Highly doubt that would happen, at least not with Trump in the seat.

davis196

hero member

Activity: 3178

Merit: 937

Quote from: bangjoe on December 03, 2024, 08:28:53 AM

The hegemony of the dollar is likely to collapse due to the continued dedollarization by countries that do not benefit, especially those that are already members of the BRICS, this move will narrow the Dollar as a global reserve currency, a bad step to maintain the power of the Dollar is to use militarization to countries that threaten its sovereignty, but there is a possibility that a second step that is one of the options for the US to manage global finance is to go further into the digitalization of the currency, they will definitely build technology companies which sustains the development of an era like crypto currency, therefore it is very likely that they will take a position in the crypto industry for where people keep money and they will still have global financial power by using crypto.
They will do the same by using crypto. IMO

I'm still thinking about this, please share your opinion.

1.The process of dedollarization is relatively slow and maybe the Trump administration will do something to stop it. Trump threatens to impose 100% tariffs on the countries, that are trying to dedollarize their global trade. I'm not sure that such threats will have a positive impact over the US dollar. Maybe this will increase the speed of global dedollarization, or maybe it will decrease it. I'm not sure about the outcome.
2.The US government investing in crypto companies and dominating the global crypto industry? This sounds like a joke to me. The best move for USA would be improving the crypto regulations and creating a better environment for the crypto companies. This will have a way better impact than the US government directly trying to dominate the crypto industry.

Topic: Is it possible? (Read 390 times)