China and Russia may need their own currency, independent of the US Federal Reserve, for cross-border settlements.
However, it will not be Bitcoin or any other decentralized cryptocurrency. Most likely we are talking about the Chinese digital yuan (i.e. CBDC).
Russia, for its part, cannot offer its digital currency as a currency for international payments. This is due to the fact that the economic power of Russia is insignificant and there are no necessary technologies for the successful implementation of such a project.
As for China, it is very interested in the expansion of the digital yuan.
Topic: Xi, Putin wants Bitcoin without wanting Bitcoin (Read 794 times)
Innovations in the financial world will not start with Russia. Cryptocurrencies will be a transitional stage for the implementation of SBDC in global and local finance. As soon as cryptocurrencies are no longer needed, it will be banned. And what remains will not look like modern cryptocurrencies, but will resemble a centralized blockchain, where each address will be verified.
But what do you mean by that? The people in power don't need cryptocurrencies, it's actually a "pest" for them, a "Rat Poison Squared". They have no need for a permissionless, decentralized cryptocurrency because it would take away some of their control over plebs like us, and give plebs like us the ability to go around their laws.
I believe Russia should start thinking that they're like plebs like us. They buy could Bitcoin, and could weaken the West's political strongholds. Because of the price caps imposed by the West, Russia could peg oil to Bitcoin and increase or decrease the peg depending on demand.
Xi and Putin turning blind eye when it's clear into their eyes what's in front of them and the solution that they're looking for.
But I guess, they don't like the name of it so they're going to make it and put their names on it as integrated countries that has partnered to build this project which is all about CBDC.
Well, maybe it's obvious that these two countries have been controversial and reported to imply ban on bitcoin for the past years.
But I guess, they don't like the name of it so they're going to make it and put their names on it as integrated countries that has partnered to build this project which is all about CBDC.
Well, maybe it's obvious that these two countries have been controversial and reported to imply ban on bitcoin for the past years.
It will merely be another permissioned ledger controlled by a centralized entity, or a federation of centralized entities. Nothing ground-breaking/nothing new, making Bitcoin more valuable from a practical standpoint.
They should just give it up and embrace the reality that they can no longer ignore the true potential of bitcoin has. It will be beneficial for them to enter such markets that has the global impact and not only limited to two of them.
Innovations in the financial world will not start with Russia. Cryptocurrencies will be a transitional stage for the implementation of SBDC in global and local finance. As soon as cryptocurrencies are no longer needed, it will be banned. And what remains will not look like modern cryptocurrencies, but will resemble a centralized blockchain, where each address will be verified.
Does this have anything in common with the news of Iran and Russia trying to scheme together a gold backed shitcoin?
Source:
https://bitcointalksearch.org/topic/iran-and-russia-want-to-issue-new-stablecoin-backed-by-gold-5435959
Putin obviously wants to be in control of their new crypto. As does Xi, I imagine. And there is no chance in hell they would ever be in control of Bitcoin, so there is no point in Bitcoin for them nor any other cryptocurrency which is out of their control.
Obviously this is a case of bad politicians not understanding the prerequisites of decentralized money. There is no point to using Blockchain to gain independency and freedom from third parties when there is a centralized source of control.
Source:
https://bitcointalksearch.org/topic/iran-and-russia-want-to-issue-new-stablecoin-backed-by-gold-5435959
Putin obviously wants to be in control of their new crypto. As does Xi, I imagine. And there is no chance in hell they would ever be in control of Bitcoin, so there is no point in Bitcoin for them nor any other cryptocurrency which is out of their control.
Obviously this is a case of bad politicians not understanding the prerequisites of decentralized money. There is no point to using Blockchain to gain independency and freedom from third parties when there is a centralized source of control.
It's the same news, read the post when I bumped this topic, https://bitcointalksearch.org/topic/m.61609872
Quote
BREAKING: Putin and Xi agreed "to set up an independent financial infrastructure to service trade between Russia and China" which will be designed to be "invulnerable" to "pressure from third parties."
https://twitter.com/chollimaorg/status/1471122707337347072
BREAKING: Satoshi Nakamoto has already invented what Putin, and Xi’s independent infrastructure to service trade between Russia, and China. Another way of saying, “we don’t want to be censored by sanctions”.
I believe it was also China itself that has proven that Bitcoin is invulnerable to pressure from third parties.
But they don't want the decentralization too, so something like digital yuan or E- Ruble or something common between them for trading activities in the future.
Because Russia and China are going against the West, they actually do need decentralization and censorship-resistance, but they don't know it yet. They probably just choose to ignore Bitcoin because "reasons".
Xi and Putin turning blind eye when it's clear into their eyes what's in front of them and the solution that they're looking for.
But I guess, they don't like the name of it so they're going to make it and put their names on it as integrated countries that has partnered to build this project which is all about CBDC.
Well, maybe it's obvious that these two countries have been controversial and reported to imply ban on bitcoin for the past years.
But I guess, they don't like the name of it so they're going to make it and put their names on it as integrated countries that has partnered to build this project which is all about CBDC.
Well, maybe it's obvious that these two countries have been controversial and reported to imply ban on bitcoin for the past years.
It will merely be another permissioned ledger controlled by a centralized entity, or a federation of centralized entities. Nothing ground-breaking/nothing new, making Bitcoin more valuable from a practical standpoint.
Quote
BREAKING: Putin and Xi agreed "to set up an independent financial infrastructure to service trade between Russia and China" which will be designed to be "invulnerable" to "pressure from third parties."
https://twitter.com/chollimaorg/status/1471122707337347072
BREAKING: Satoshi Nakamoto has already invented what Putin, and Xi’s independent infrastructure to service trade between Russia, and China. Another way of saying, “we don’t want to be censored by sanctions”.
I believe it was also China itself that has proven that Bitcoin is invulnerable to pressure from third parties.
But they don't want the decentralization too, so something like digital yuan or E- Ruble or something common between them for trading activities in the future.
The concept of CBDC isn't new but the main problem is they are backed by their own fiat so its completely useless if their fiat doesn't have any market value so they may build something backed by real gold oe simply go with bitcoin.
Xi and Putin turning blind eye when it's clear into their eyes what's in front of them and the solution that they're looking for.
But I guess, they don't like the name of it so they're going to make it and put their names on it as integrated countries that has partnered to build this project which is all about CBDC.
Well, maybe it's obvious that these two countries have been controversial and reported to imply ban on bitcoin for the past years.
But I guess, they don't like the name of it so they're going to make it and put their names on it as integrated countries that has partnered to build this project which is all about CBDC.
Well, maybe it's obvious that these two countries have been controversial and reported to imply ban on bitcoin for the past years.
BREAKING: Satoshi Nakamoto has already invented what Putin, and Xi’s independent infrastructure to service trade between Russia, and China. Another way of saying, “we don’t want to be censored by sanctions”.
Except the fact that it's highly likely that they don't want something like Bitcoin. I mean, they wouldn't have power and control over Bitcoin so.. and let's not forget we're talking about China's overlord Xi Jinping here.
Does this have anything in common with the news of Iran and Russia trying to scheme together a gold backed shitcoin?
Source:
https://bitcointalksearch.org/topic/iran-and-russia-want-to-issue-new-stablecoin-backed-by-gold-5435959
Putin obviously wants to be in control of their new crypto. As does Xi, I imagine. And there is no chance in hell they would ever be in control of Bitcoin, so there is no point in Bitcoin for them nor any other cryptocurrency which is out of their control.
Obviously this is a case of bad politicians not understanding the prerequisites of decentralized money. There is no point to using Blockchain to gain independency and freedom from third parties when there is a centralized source of control.
Source:
https://bitcointalksearch.org/topic/iran-and-russia-want-to-issue-new-stablecoin-backed-by-gold-5435959
Putin obviously wants to be in control of their new crypto. As does Xi, I imagine. And there is no chance in hell they would ever be in control of Bitcoin, so there is no point in Bitcoin for them nor any other cryptocurrency which is out of their control.
Obviously this is a case of bad politicians not understanding the prerequisites of decentralized money. There is no point to using Blockchain to gain independency and freedom from third parties when there is a centralized source of control.
Bump.
Iran is reportedly in discussions with Russia to develop a new gold-backed stablecoin as sanctions from US and its allies amount against the two countries.
According to a report from Russian news site Vedomosti, Iran and Russia are jointly looking for a new digital format for international settlements that can operate around Western sanctions. The new “token of the Persian Gulf region” would be used as a means of payment in foreign trade settlements instead of the US dollar, the Russian ruble, or the Iranian rial.
https://financefeeds.com/iran-and-russia-are-creating-gold-backed-stablecoin/
If only there was a permissionless, decentralized ledger with its own currency that can be used both as Store Of Value and Medium Of Exchange, and the protocol can also be used as a financial network for international settlements that can go around and elude sanctions.
How long? How long must Bitcoin run and prove itself before they accept it, and use it?
Quote
Iran is reportedly in discussions with Russia to develop a new gold-backed stablecoin as sanctions from US and its allies amount against the two countries.
According to a report from Russian news site Vedomosti, Iran and Russia are jointly looking for a new digital format for international settlements that can operate around Western sanctions. The new “token of the Persian Gulf region” would be used as a means of payment in foreign trade settlements instead of the US dollar, the Russian ruble, or the Iranian rial.
https://financefeeds.com/iran-and-russia-are-creating-gold-backed-stablecoin/
If only there was a permissionless, decentralized ledger with its own currency that can be used both as Store Of Value and Medium Of Exchange, and the protocol can also be used as a financial network for international settlements that can go around and elude sanctions.
How long? How long must Bitcoin run and prove itself before they accept it, and use it?
In Russia, smart people understand that the price of bitcoin is highly manipulated, so bitcoin will not be used for serious international payments. Perhaps they will allow small commercial transactions with various cryptocurrencies, but the main idea is to make an analogue of the dollar for the BRICS countries.
Perhaps not, but that's also the question. It won't matter if the price is manipulated, because technically and politically, if it gives its participants the advantage of breaking down, and weakening political strongholds implemented by the West, it probably could be a more feasible solution to their problem. I believe they have deep knowledge of Bitcoin, and that it could be useful for what they want to do, but they will never admit it.
Bump.
Iran is reportedly in discussions with Russia to develop a new gold-backed stablecoin as sanctions from US and its allies amount against the two countries.
According to a report from Russian news site Vedomosti, Iran and Russia are jointly looking for a new digital format for international settlements that can operate around Western sanctions. The new “token of the Persian Gulf region” would be used as a means of payment in foreign trade settlements instead of the US dollar, the Russian ruble, or the Iranian rial.
https://financefeeds.com/iran-and-russia-are-creating-gold-backed-stablecoin/
If only there was a permissionless, decentralized ledger with its own currency that can be used both as Store Of Value and Medium Of Exchange, and the protocol can also be used as a financial network for international settlements that can go around and elude sanctions.
How long? How long must Bitcoin run and prove itself before they accept it, and use it?
In Russia, smart people understand that the price of bitcoin is highly manipulated, so bitcoin will not be used for serious international payments. Perhaps they will allow small commercial transactions with various cryptocurrencies, but the main idea is to make an analogue of the dollar for the BRICS countries. Quote
Iran is reportedly in discussions with Russia to develop a new gold-backed stablecoin as sanctions from US and its allies amount against the two countries.
According to a report from Russian news site Vedomosti, Iran and Russia are jointly looking for a new digital format for international settlements that can operate around Western sanctions. The new “token of the Persian Gulf region” would be used as a means of payment in foreign trade settlements instead of the US dollar, the Russian ruble, or the Iranian rial.
https://financefeeds.com/iran-and-russia-are-creating-gold-backed-stablecoin/
If only there was a permissionless, decentralized ledger with its own currency that can be used both as Store Of Value and Medium Of Exchange, and the protocol can also be used as a financial network for international settlements that can go around and elude sanctions.
How long? How long must Bitcoin run and prove itself before they accept it, and use it?
Quote
The new “token of the Persian Gulf region” would be used as a means of payment in foreign trade settlements instead of the US dollar, the Russian ruble, or the Iranian rial.
How long must Bitcoin run and prove itself before they accept it, and use it?
Until 2140 or as soon as it becomes more stable 
Bump.
Iran is reportedly in discussions with Russia to develop a new gold-backed stablecoin as sanctions from US and its allies amount against the two countries.
According to a report from Russian news site Vedomosti, Iran and Russia are jointly looking for a new digital format for international settlements that can operate around Western sanctions. The new “token of the Persian Gulf region” would be used as a means of payment in foreign trade settlements instead of the US dollar, the Russian ruble, or the Iranian rial.
https://financefeeds.com/iran-and-russia-are-creating-gold-backed-stablecoin/
If only there was a permissionless, decentralized ledger with its own currency that can be used both as Store Of Value and Medium Of Exchange, and the protocol can also be used as a financial network for international settlements that can go around and elude sanctions.
How long? How long must Bitcoin run and prove itself before they accept it, and use it?
Quote
Iran is reportedly in discussions with Russia to develop a new gold-backed stablecoin as sanctions from US and its allies amount against the two countries.
According to a report from Russian news site Vedomosti, Iran and Russia are jointly looking for a new digital format for international settlements that can operate around Western sanctions. The new “token of the Persian Gulf region” would be used as a means of payment in foreign trade settlements instead of the US dollar, the Russian ruble, or the Iranian rial.
https://financefeeds.com/iran-and-russia-are-creating-gold-backed-stablecoin/
If only there was a permissionless, decentralized ledger with its own currency that can be used both as Store Of Value and Medium Of Exchange, and the protocol can also be used as a financial network for international settlements that can go around and elude sanctions.
How long? How long must Bitcoin run and prove itself before they accept it, and use it?
Russia will not attack Ukraine unless there are provocations. Ukraine has a very difficult situation, because one part of the population wants to join Russia, the other to Poland. It is a tool in the political games of the USA, Europe and Russia. The Russian people have not been afraid of sanctions for a long time, and if something is taken away from the Russian oligarchs abroad, then it will not be worse in Russia.
That’s another debate altogether. War or without war, it’s also another debate if Russia will accept/regulate Bitcoin mining, or mine Bitcoin themselves as a preperation for U.S. sanctions, and to use Bitcoin as a protocol/alternative for SWIFT/a settlement layer. The technology works, it’s robust, and it has been chugging along without down time.
Russia will not attack Ukraine unless there are provocations. Ukraine has a very difficult situation, because one part of the population wants to join Russia, the other to Poland. It is a tool in the political games of the USA, Europe and Russia. The Russian people have not been afraid of sanctions for a long time, and if something is taken away from the Russian oligarchs abroad, then it will not be worse in Russia.
If Russia invades Ukraine, the E.U. and the U.S. will sanction them and ban them from using SWIFT, therefore isolating their banking system. If only there was an open, permissionless protocol that can be used as a fall back for their banking system.
I don't think such sanction ever happens because it would harm US more than it harms Russia. There are already plans among the Easter block to abandon US dollar as it is, if US pushes them in that direction they would lose a massive volume from Russia, China and a bunch of other allied countries and that can easily tank US dollar sooner than previously expected.
It currently won’t, but if a hot war happens to start between Russia/China, and the U.S./Europe? Because if Russia invades Ukraine, it might prompt China to make their move on Taiwan. Japan will ally with the U.S., North Korea with China, just a shower thought for the sake of discussion.
Quote
Interestingly enough bitcoin adoption is growing among these governments. A couple of years ago Iran adopted bitcoin for its import exports and also made it official recently. Others are following in those footsteps.
After El Salvador’s mining through volcano power, Russia/Iran mining through Nuclear power.
If Russia invades Ukraine, the E.U. and the U.S. will sanction them and ban them from using SWIFT, therefore isolating their banking system. If only there was an open, permissionless protocol that can be used as a fall back for their banking system.
I don't think such sanction ever happens because it would harm US more than it harms Russia. There are already plans among the Easter block to abandon US dollar as it is, if US pushes them in that direction they would lose a massive volume from Russia, China and a bunch of other allied countries and that can easily tank US dollar sooner than previously expected.Interestingly enough bitcoin adoption is growing among these governments. A couple of years ago Iran adopted bitcoin for its import exports and also made it official recently. Others are following in those footsteps.
I didn't think so either, and I haven't been following this closely enough but it does seem apparent that US is ready to lay down the "mother of all sanctions" today -- and both parties seem to be on the same page here. Been seeing language being used of "Russian sons in body bags" even, which I wouldn't have expected under the current regime.
I always say necessity if the mother of invention. Iranians quickly became power users of Bitcoin once they had to learn to live under banking sanctions. I wouldn't be surprised if the same were to happen to this "Eastern bloc".
I believe everyone must have heard/read the announcement that Russia is interested in allowing Bitcoin mining, and Bitcoin protocol usage itself?
This is the narrative behind it, https://edition.cnn.com/2022/01/26/investing/swift-russia-ukraine/index.html
If Russia invades Ukraine, the E.U. and the U.S. will sanction them and ban them from using SWIFT, therefore isolating their banking system. If only there was an open, permissionless protocol that can be used as a fall back for their banking system.
This is the narrative behind it, https://edition.cnn.com/2022/01/26/investing/swift-russia-ukraine/index.html
If Russia invades Ukraine, the E.U. and the U.S. will sanction them and ban them from using SWIFT, therefore isolating their banking system. If only there was an open, permissionless protocol that can be used as a fall back for their banking system.
russia is a country of a modern dictatorship, they in an ideology that will hardly accept bitcoin even if they were in the worst of the worst situations, even if they were starving the russian government would continue with their ideology until one day the opposition won and took them out power
I believe everyone must have heard/read the announcement that Russia is interested in allowing Bitcoin mining, and Bitcoin protocol usage itself?
This is the narrative behind it, https://edition.cnn.com/2022/01/26/investing/swift-russia-ukraine/index.html
If Russia invades Ukraine, the E.U. and the U.S. will sanction them and ban them from using SWIFT, therefore isolating their banking system. If only there was an open, permissionless protocol that can be used as a fall back for their banking system.
Today I saw on TV news with reference to the words of Russian President Putin that Russia is not afraid of being cut off from the SWIFT international banking system, since there is a good currency, the yuan. It is possible that Putin even has in mind the digitized yuan, which China promises to officially launch by the opening of the Winter Olympic Games in Beijing, that is, on February 04. I think that this is a significant exaggeration of his capabilities on the part of Putin, and he is still afraid of being cut off from SWIFT, but they deliberately deny the negative consequences of current and future international sanctions. But surely in Russia they will not turn to bitcoin or any other decentralized currency in order to circumvent international sanctions. The Chinese digitized yuan is more suitable for this. But for certain operations, the Russian government may well use bitcoin.This is the narrative behind it, https://edition.cnn.com/2022/01/26/investing/swift-russia-ukraine/index.html
If Russia invades Ukraine, the E.U. and the U.S. will sanction them and ban them from using SWIFT, therefore isolating their banking system. If only there was an open, permissionless protocol that can be used as a fall back for their banking system.
as i've been saying russia will not use bitcoin they may even prefer to use china currency or china support than to use bitcoin
Sanctions are inevitable in this case. Russia and China can't expect they are going to keep their deals in secret while still maintaining the harmony with the rest of the world, especially with the occident. USA won't be fool to let their main adversaries continue growing protected by a bilateral p2p agreement. Understanding the analogy, bitcoin itself isn't the problem for people like Putin and Xi Jinping. For them, the problem is that bitcoin is open and free for everyone to use, doesn't matter who you are, while in fact they would like only themselves and their allies should have access to it.
That's what US is doing right now, they're sleeping on this countries. I mean they're military has always been the target of Russian, Chinese, and North Korean hackers for years now and they haven't done anything so far with all this attacks to possibly protect themselves, they're still banking on the fact that they still have the power to intimidate people into submission and via using their foreign policy to manipulate countries to fight proxy wars against their rivals. I think this partnership of China and Russia will be a bad thing for it's neighbors because both have been eyeing couuntries near their borders for years now and an economic partnership will somewhat seal the deal. 
If Russia invades Ukraine, the E.U. and the U.S. will sanction them and ban them from using SWIFT, therefore isolating their banking system. If only there was an open, permissionless protocol that can be used as a fall back for their banking system.
I don't think such sanction ever happens because it would harm US more than it harms Russia. There are already plans among the Easter block to abandon US dollar as it is, if US pushes them in that direction they would lose a massive volume from Russia, China and a bunch of other allied countries and that can easily tank US dollar sooner than previously expected.Interestingly enough bitcoin adoption is growing among these governments. A couple of years ago Iran adopted bitcoin for its import exports and also made it official recently. Others are following in those footsteps.
Jump to: