New currency from BRICS countries - page 6.

DrBeer

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Quote from: davis196 on May 01, 2023, 06:30:11 AM

The economy of the so called "west" is artificially pumped by the money printing machines. BRICS countries have a big enough population and natural resources to survive without the "west". Can the "west" survive without the BRICS countries? Most likely yes, but at the cost of lowering the standard of living of the western middle class.

Okay, let's assume. But then what do the BRICS countries do? And why do they often have huge inflation, economic problems, and dependence on Western markets for consumption and technology?
And who gave these countries technology? From agricultural to high-tech? Equipment ? You can't become smart just by printing money, and you can't invent a processor or the Internet

Or do you have another theory? I'll be happy to listen to it!
And explain - why are all the "independent, non-printing money" BRICS economies so afraid of losing the EU / US markets, and so afraid of sanctions, from those whose economy is built only on paper printing, which, by the way, BRICS does not use?

China, for example, has been trying for the second year to persuade the United States not to introduce new and reduce existing technological sanctions restrictions? All in anticipation of your answer!

mvdheuvel1983

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Quote from: I_RodimusPrime on March 31, 2023, 01:25:20 AM

Couple of hours ago there is in news on Twitter saying BRICS countries (Brazil, Russia, India, China, South Africa) are developing a new currency. It was mentioned by State Duma Deputy Chairmen btw.

As I can see all these things to manipulate BTC right? What are your thoughts about this?

The BRICS wouldn't have any more impact on Bitcoin than the Dollar is already having. As a matter of fact, to me the proposed currency is just a new improved dollar nothing more. It may even help to reduce the volatility of Bitcoin which to an extent is a result of over dependence on the dollar ( this is my hypothesis) . Well I am happy with the new development and look forward to it coexisting with Bitcoin in the future.

davis196

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Quote from: I_RodimusPrime on March 31, 2023, 01:25:20 AM

Couple of hours ago there is in news on Twitter saying BRICS countries (Brazil, Russia, India, China, South Africa) are developing a new currency. It was mentioned by State Duma Deputy Chairmen btw.

As I can see all these things to manipulate BTC right? What are your thoughts about this?

The BRICS countries couldn't care less about manipulating Bitcoin. How did you come up with this weird theory?
They simply want to dump the US dollar completely. I doubt that their attempt at creating an alternative global currency would be successful.
Using their own national currencies instead of the US dollar would be a way more successful approach.

Quote

It's very easy to check my version. Let's compare the economy of the USA + the West, and the economy of the group of these "lucky ones"? And especially in the context of today's goals of creating BRICS. Let's make it even simpler, imagine and simulate 2 situations:
- the United States and the collective West, with their economies, will disappear. What is happening on Earth?
- BRICS is disappearing - what is happening on Earth?

The economy of the so called "west" is artificially pumped by the money printing machines. BRICS countries have a big enough population and natural resources to survive without the "west". Can the "west" survive without the BRICS countries? Most likely yes, but at the cost of lowering the standard of living of the western middle class.

michellee

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I don't really know about it but I don't think BRICS is for manipulating BTC. But I feel that BRICS exists to prevent BTC from becoming the currency for the whole world because BTC cannot be controlled by one government.

Apart from that, BRICS also wants to be a solution to the de-dollarization that has occurred in several countries, especially in Asia. But I don't know what impact the dollar will have.

Apart from the BRICS, another SCO also wants to develop a new currency consisting of the People's Republic of China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. We should just wait for further news about this.

DrBeer

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Quote from: Kakmakr on April 30, 2023, 12:59:15 PM

I hope it's some decentralized token and not a centralized token that are being controlled by China, because we all know the Chinese government wants to have control over everything their citizens are doing. Roll Eyes

There has already been some huge moves to shift away from the US Dollar, but it can explode in their face.. if the US and Europe market turn against them. We also know most African countries and other third world countries are deep in debt with the US and Europe, so that might also be a problem in the future. Roll Eyes

China is well aware that it is not able to replace the US and the dollar, or become their competitor. He has other goals. Its goal is to create around itself a belt of satellite countries that will be totally dependent on China/Yuan. How this will be implemented - let's wait quite a bit - the Chinese trap will soon slam shut, and everyone who has accepted the idea of "rejecting the dollar in exchange for the BRICS currency" will become completely dependent on what (I mean the currency and principles of interaction) that China will put in front of them . China openly declares that now HE is the second pole of the bipolar world, and it will LEAD this pole. And without total management and control of financial flows among its satellites, this task will not be solved for China!

be.open

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Quote from: DrBeer on April 30, 2023, 09:44:03 AM

Quote from: be.open on April 27, 2023, 06:42:37 AM

I do not think that the BRICS countries will agree to use the national currency of one of their members as a common currency for mutual settlements. The synthetic currency R5 (real, rouble, rupee, renminbi, rand) has more chances, but this question is still open.

Who will ask them?

)) They will be so cute to save the Chinese economy with their pockets! China has not just gathered the most ... well, to put it mildly, not smart "friends" ... Just watch!
Do you remember, about six months ago, when the hysteria "everyone is leaving the dollar" and "BRICS are switching to local currencies" began, I gave an example of Brazil-China mutual settlements. And even then he hinted that the Yuan would be the currency of the BRICS. Because even at that moment, the yuan was 80%+ in settlements between these countries. And now the situation is becoming quite clear - ONLY RMB! Just watch these "Chinese Rescuers"

It is in the countries of the Big Seven that no one asks anyone - as the main hegemon said, it will be so. And in the BRICS countries, cooperation is carried out on mutually beneficial terms, no one looks down on anyone, and there is no single decision-making center. In a sense, it is a peer-to-peer hierarchy, like the Bitcoin network. Perhaps that is why so many countries want to join the BRICS that they are tired of external pressure and manipulation attempts.

umbara ardian

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I see this message has nothing to do with bitcoin or the crypto market. Also, as for whether the new currency could be used to manipulate Bitcoin, I would say that it is unlikely. As for the BRICS countries wanting to create a new currency, I think they want to reduce the dominance of the US dollar. For example, in China, I see that they have been promoting their own currency, the renminbi, as an alternative to the US dollar. With Russia, Iran, Brazil, and a number of African countries allowing their exporters to receive payments directly in China's local currency, in the not too distant future the renminbi will become a formidable force.

misterrtwisterr

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Honestly, if anyone can introduce a petrodollar competitor, it's BRICS. Not because they're competent, but because USA won't have balls sending their military to China or Russia, like they did with last two guys who tried to pull the same thing.

Woodie

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I have not taken much interest in this, but seeing all the sanctions put on Russia backfiring ...
All I see now is Russia literally going with the enemy of my enemy is my friend to counter/undo whatever pressure they tried to put on Russia is scary. If you look at this BRICS thing, these guys want to now use their Superpower status to destabilize the US currency and other economies that peg their money using it...just not sure if Bitcoin is in crossfire but whatever currencies are introduced BTC will still flourish thats for sure.

Quote from: I_RodimusPrime on March 31, 2023, 01:25:20 AM

As I can see all these things to manipulate BTC right? What are your thoughts about this?

I dont think bitcoin is of any interest to the guys, we all know the target currency here is the US dollar and if anything BTC could gain from this currency war Roll Eyes

Kakmakr

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I hope it's some decentralized token and not a centralized token that are being controlled by China, because we all know the Chinese government wants to have control over everything their citizens are doing. Roll Eyes

There has already been some huge moves to shift away from the US Dollar, but it can explode in their face.. if the US and Europe market turn against them. We also know most African countries and other third world countries are deep in debt with the US and Europe, so that might also be a problem in the future. Roll Eyes

GigaBit

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Quote from: I_RodimusPrime on March 31, 2023, 01:25:20 AM

Couple of hours ago there is in news on Twitter saying BRICS countries (Brazil, Russia, India, China, South Africa) are developing a new currency. It was mentioned by State Duma Deputy Chairmen btw.

As I can see all these things to manipulate BTC right? What are your thoughts about this?

We all know that BRICS basically means a group of 5 financial countries. But in recent times it has been thought of expansion. More countries want to join here. Many have already expressed their interest to join this strategic alliance for various opportunities. As far as I know more than 20 countries are looking to form an alliance for strategic reasons. Basically the main purpose of making this coin is working against the US dollar. If this currency is established, there will be a big fall in the US dollar. But in my perception BTC will have no effect on it.

Dalib

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Quote from: I_RodimusPrime on March 31, 2023, 01:25:20 AM

Couple of hours ago there is in news on Twitter saying BRICS countries (Brazil, Russia, India, China, South Africa) are developing a new currency. It was mentioned by State Duma Deputy Chairmen btw.

As I can see all these things to manipulate BTC right? What are your thoughts about this?

This is an interesting news story, but its accuracy is questionable. All of these "news" items are designed to influence the price of Bitcoin or the cryptocurrency market.

In my personal opinion, this news is not worth paying attention to. If you believe in Bitcoin or cryptocurrency, just hold onto your investments and don't worry about short-term news.

ringgo96

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I don't think this is a threat to bitcoin, maybe BRICS is planning to create a new currency because they want the family of the US dollar which is currently very dependent on them, they might want to regulate themselves how their currency is more valuable compared to other currencies such as the dollar currently it has become a mainstay of other countries, so I don't think this problem will become a processing on Bitcoin because the dollar and euro are their dominance at this time.

dansus021

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No they didnt wanna manipulate the bitcoin. Why you even think like that?

In my opinion is like same as other they want loose from the United States Dollar you can see that the US is like leader of country when something fvcked up on their economy all over the wold at least feel it.

and dollar is losing their value I mean like other fiat too but I think there is have something in mind too

DrBeer

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Quote from: be.open on April 27, 2023, 06:42:37 AM

I do not think that the BRICS countries will agree to use the national currency of one of their members as a common currency for mutual settlements. The synthetic currency R5 (real, rouble, rupee, renminbi, rand) has more chances, but this question is still open.

Who will ask them?

)) They will be so cute to save the Chinese economy with their pockets! China has not just gathered the most ... well, to put it mildly, not smart "friends" ... Just watch!
Do you remember, about six months ago, when the hysteria "everyone is leaving the dollar" and "BRICS are switching to local currencies" began, I gave an example of Brazil-China mutual settlements. And even then he hinted that the Yuan would be the currency of the BRICS. Because even at that moment, the yuan was 80%+ in settlements between these countries. And now the situation is becoming quite clear - ONLY RMB! Just watch these "Chinese Rescuers"

kryptqnick

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There don't seem to be any follow-ups on this idea, so it remains an idea that might never get implemented. I really hope that they won't settle on using something like Bitcoin, as that would be terrible for BTC regulation around the world and for its reputation. As for other options, they can settle on a fiat currency or make a digital currency. I don't believe in them choosing a fiat currency because that would be a currency of a particular country, which would lead to the dominance of that country, and I don't think the rest will support that. If it's a digital currency, there are 2 options once again: a currency regulated by one power or by multiple powers. If it's regulated by one power (China or Russia, for example), then it will be undesirable for the rest (same reason as with fiat). If it's regulated (and operated) by multiple powers, I just don't see how it can work in practice because a centralized currency needs a centre.

DrBeer

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Quote from: Zlantann on April 24, 2023, 02:51:42 PM

...
Although I doubt the power of BRICS to unseat the dollar as the dominant currency globally underestimating this alliance might have some consequences. China has the second economy in the world and it has succeeded to attract other key economies like India and Russia. These nations can give the US and its partners a good economic fight.

When you talk about slavery, the US and its partners have been the slave masters of many developing nations. The US have weaponized SWIFT and the dollars and used them to manipulate the economy of many nations. The economies of some nations have been devastated by certain sanctions and restrictions placed by the US and its allies because such nations refused to accept an imposed policy. It will be a good experiment to have two slave masters so that nations can choose the lesser evil out of the two evils.

It's very easy to check my version. Let's compare the economy of the USA + the West, and the economy of the group of these "lucky ones"? And especially in the context of today's goals of creating BRICS. Let's make it even simpler, imagine and simulate 2 situations:
- the United States and the collective West, with their economies, will disappear. What is happening on Earth?
- BRICS is disappearing - what is happening on Earth?
I'm sure you understand perfectly well what is IMMEDIATELY more important for today's world economy .. And this is clearly not BRICS. Even despite the fact that there is half the population of the Earth, even though the BRICS is conditionally "the second economy in the world." Just model and you will understand that I am right

be.open

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Quote from: DrBeer on April 24, 2023, 03:30:50 AM

Quote from: I_RodimusPrime on March 31, 2023, 01:25:20 AM

Couple of hours ago there is in news on Twitter saying BRICS countries (Brazil, Russia, India, China, South Africa) are developing a new currency. It was mentioned by State Duma Deputy Chairmen btw.

As I can see all these things to manipulate BTC right? What are your thoughts about this?

I answer your question. And my answer will be the only correct one

And you can very easily check it now, and finally make sure - well, somewhere in 1-2 years.

The only currency of China's BRICS guinea pig club will be... Let's think about it?? There will be... Drumroll!!!!! YUAN! And only he!
The reason is extremely banal. If some time ago, BRICS was considered as a kind of union of countries that cannot get into the big leagues, but supposedly want to be one. But now, in connection with the policy and problems of China, China has decided to solve its problems "by proxy". Or rather, other people's wallets, the countries that he manages to very cleverly manipulate

I will not paint about the problems of China, I am sure that everyone who discusses the BRICS and currencies here is well aware of the difficult situation in the Chinese economy. If you don’t know, I’ll tell you, give the numbers, and explain why China is using a “pillow” of country-fools who will soon become “slaves of the yuan”.

I do not think that the BRICS countries will agree to use the national currency of one of their members as a common currency for mutual settlements. The synthetic currency R5 (real, rouble, rupee, renminbi, rand) has more chances, but this question is still open.

Jatiluhung

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Quote from: be.open on April 25, 2023, 11:25:52 AM

Quote from: Jatiluhung on April 24, 2023, 06:58:18 PM

BRICS even seems to continue to expand its work and many other countries are interested in BRICS, for example, Saudi Arabia, several countries from Africa and several countries from Asean. And all have the same reason that is about reducing the dominance of the dollar.

Yep, nineteen countries have expressed interest in joining the BRICS group of countries preparing to host the annual summit in South Africa.

And if you look at the high interest of countries from Asia who want to join the BRICS. I think this is an indication that Dollar Domination is really going to continue to decline in Asia. I think that in the next few years there will be many changes in the global economic order, especially in the financial system and international trade. This is due to the many US policies which have always been considered controversial in recent years. This has fostered the desire of Asian countries to reduce the dominance of the US dollar. And China, which is now starting to have strong relations with almost all countries in Asia and outside Asia, seems to be taking advantage of this. and the proof is that there has been a lot of international trade that actually uses the Chinese Yuan at this time. I don't know if this has anything to do with the new world order or whatever it's called. it's just that the current direction of the global economy really isn't running in the same vein as it was 5 years ago.

Lorence.xD

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Quote from: avikz on April 24, 2023, 01:39:28 PM

Quote from: I_RodimusPrime on March 31, 2023, 01:25:20 AM

As I can see all these things to manipulate BTC right? What are your thoughts about this?

How come creation of a new currency will manipulate bitcoin at all? BRICS countries will start reducing their dependency on the US dollar for international trade. That's what the aim of the new currency. It's definitely beneficial for these countries.

Not sure how you see it as a competitor or a potential manipulation tool? Can you explain your stand please? Because this new currency are not meant for the common people like you and I. It's purely an institutional money with very specific use cases.

Maybe OP's thought is that when a new currency joined in the market which can affect the economy, it might also affect's Bitcoin price which is I don't see. We all agree that US currency are dominating worldwide mostly in Asian countries which is I am part of. Having your own currency has its own benefits that you could also trade to other country like the US did. I think that's the case of OP

Topic: New currency from BRICS countries - page 6. (Read 1095 times)