Xi, Putin wants Bitcoin without wanting Bitcoin - page 5.

Easteregg69

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Quote from: Wind_FURY on December 16, 2021, 04:09:46 AM

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. Cool

They have a base on the dark side of the moon where they "tarde" all the secret stuff. Degen deals. Poker. Hookers. You name it.

Come on. They can't control a lot if they cut their own wires.

Easteregg69

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Quote from: Kakmakr on December 16, 2021, 06:02:35 AM

Well, why would two countries want to trust a piece of software that are run by mostly non-communist developers? Putin showed some interest in Ethereum because he thought Vitaly Dmitriyevich "Vitalik" Buterin a Russian born would be a good option to pick. The thing is Vitaly Dmitriyevich "Vitalik" Buterin is a Canadian citizen, so it is not a perfect fit.

These two countries want FULL control over their digital currency, like they have over their own Fiat currencies and Bitcoin does not give them FULL control. Wink

K.. I believed he was from Belarus since that was brought up.

Kakmakr

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Well, why would two countries want to trust a piece of software that are run by mostly non-communist developers? Putin showed some interest in Ethereum because he thought Vitaly Dmitriyevich "Vitalik" Buterin a Russian born would be a good option to pick. The thing is Vitaly Dmitriyevich "Vitalik" Buterin is a Canadian citizen, so it is not a perfect fit.

These two countries want FULL control over their digital currency, like they have over their own Fiat currencies and Bitcoin does not give them FULL control. Wink

Pmalek

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Bitcoin with its public ledger would not be suitable for the needs that Putin and Xi have. They wouldn't want the whole world to see or be able to find what was sent and when it was sent. Maybe they can improve and update the Lightning Network and open a channel between themselves to be able to exchange thousands of bitcoins. Grin

Quote from: pooya87 on December 16, 2021, 05:20:27 AM

This is not surprising, this has been going on for many years. The "east" is moving away from US controlled currency and is internalizing its affairs. One of the steps in that direction is replacing US dollar with another currency.

Luckily for Russia and China, they are powerful nations that can't be pushed around like Saddam or Ghaddafi. That's why we won't see the democratic eagle fly over their skies.

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Quote from: kryptqnick on December 16, 2021, 04:58:12 AM

At first, I wasn't sure if the news were legit, but I found articles on Russian news websites about it, so it seems like the talk actually happened.

This is not surprising, this has been going on for many years. The "east" is moving away from US controlled currency and is internalizing its affairs. One of the steps in that direction is replacing US dollar with another currency. Obviously every country would want their currency to be the replacement so they can't come up with an agreement unless they create a new payment system or adopt bitcoin. Bitcoin adoption is not happening at this stage so the only viable option is the first one.

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Quote from: Wind_FURY on December 16, 2021, 04:09:46 AM

I believe it was also China itself that has proven that Bitcoin is invulnerable to pressure from third parties. Cool

Even comparing bitcoin with this is understating the capabilities of bitcoin. Countries will be countries and their fiat currencies will be theirs. I see this move of China and Russia as a way to be less independent of US and many other European countries while this country will be producing to African countries to make them have more successful ambitions because Africans countries are most dependent on production from countries like China. But there is no way I am comparing bitcoin with this because there is nothing decentralized about this. The decentralized means of bitcoin make it invulnerable to pressure from third parties.

kryptqnick

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At first, I wasn't sure if the news were legit, but I found articles on Russian news websites about it, so it seems like the talk actually happened. They want an infrastructure that won't be under control of third countries, but there's a big potential difference from Bitcoin: there's nothing there about the financial infrastructure being independent altogether. Bitcoin's not under control of the US, but it's not under control of China or Russia either. I believe this is not desirable for Putin and Xi, as they'd prefer a centralized currency that would be under their mutual control. That being said, it might be very hard to achieve, so they might settle on something like Bitcoin as good enough.

Wind_FURY

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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. Cool

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