Xi, Putin wants Bitcoin without wanting Bitcoin

[Wind_FURY]

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.

[kryptqnick]

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.

[Oshosondy]

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

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.

[pooya87]

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.

[Pmalek]

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.

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.

[Kakmakr]

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.  

[Easteregg69]

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.  

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

[Easteregg69]

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.

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.

[stompix]

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.

By "east" you mean China and Russia as the other former enemies of the US in the east are welcoming them with open arms. The first US warships have been seen docking in Vietnamese ports, South Korea and Japan are US allies, who else in the "east" is shifting away from the US? India, Australia? Thailand? Every single country there is more concerned with China than with the US.
Ending the US dollar and replacing it with what, the yuan? Just lol.

I simply can't understand your enthusiasm here when the only true allies China has are ones that just like it have a grudge against everything that means freedom from bitcoin to everything!
Russia, Iran, and China, wonder why every citizen there wants to run away to the corrupt and pitiful US.  

As for the news itself, trade between Russia and China...
A gas station and a peddler desperate to sell merchandise are teaming together!
Russia represents for China 10% of the US market and when it comes to imports, not even half of Germany.
They are just making a propaganda movie, they know that their partnership is doomed, one needs buyers the other needs money.
Remember BRICS? The one alliance that was supposed to do...I forgot what, I only know they did shit!

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.

Oh yeah, so good for the Chinese poeple that they are sheltered from the threats of democracy.
Must be heaven on earth there, wonder why millions are fleeing to the US and EU however they can.

[NeuroticFish]

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."

I could say that you've misunderstood it. The infrastructure has to be independent from third parties and invulnerable for pressure by third parties.
They won't give up their control over the financial infrastructure to be, hence bitcoin doesn't fit this description.

[Wind_FURY]

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.

They want their network to “be designed to be invulnerable to pressure from third parties”. Obviously they prefer censorship-resistance, and a financial infrastructure separate from SWIFT, which Bitcoin truly is waiting to serve them. But, they would never admit it, especially China.

[Lucius]

Wanting Bitcoin without Bitcoin, an interesting thought although of course it makes no sense. Bitcoin is a decentralized cryptocurrency, and if Russia and China want an independent financial infrastructure, then they will design a centralized financial product that will be 100% under their control, and it can never be anything like Bitcoin.

So isn't China a leader in the CBDC and the digital yuan has already become commonplace in that country? Let the Russians make their own CBDC and then let them trade with each other if they want to - no one is forcing them to use the US dollar or the euro.

Oh yeah, so good for the Chinese poeple that they are sheltered from the threats of democracy.
Must be heaven on earth there, wonder why millions are fleeing to the US and EU however they can.

These people live under very cruel regimes (especially the Chinese), but US democracy in the way they usually deliver it would be nothing from which people in those countries would benefit significantly. Since 1990, trillions of dollars have been spent on various wars aimed at overthrowing tyrants and so-called terrorist states, and do people live better today in Iraq, Afghanistan, Syria, or Libya? The only right way to change in these countries is to come from within the people themselves, but this is an almost impossible mission at the moment.

[Coin_trader]

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."

I could say that you've misunderstood it. The infrastructure has to be independent from third parties and invulnerable for pressure by third parties.
They won't give up their control over the financial infrastructure to be, hence bitcoin doesn't fit this description.

This is what I'm actually thinking. Maybe they are trying to create a new token that builds on there own Blockchain technology. I remember last year that China has already starting to research about Blockchain and trying to create there own coin that wll rival Bitcoin and Dollar. You can check the article below for the source and I strongly believe that is the cryptocurrency they pertains for the problem that they are discussing.


https://www.bloomberg.com/news/articles/2020-06-01/china-is-making-cryptocurrency-to-challenge-bitcoin-and-dollar

[davis196]

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”.

The Bitcoin price is too volatile and a large portion of the BTC miners are now located in USA and Canada.
Not a great choice for both Russia and China.
I think that China and Russia want to dump the US dollar and create their own fiat payment system,which will be independent from the global(US dominated) fiat financial system.Crypto will not be considered as a real option by the both governments.More like the ruble will be tied to the yuan in a fixed currency rate.
The western world is too afraid to impose sanctions over China,because this might backfire into the western economies,which are relying on Chinese goods and many western corporations are doing business in China.

[Pmalek]

Oh yeah, so good for the Chinese poeple that they are sheltered from the threats of democracy.
Must be heaven on earth there, wonder why millions are fleeing to the US and EU however they can.

Of course it's not heaven on earth. It's awful living under a tyrant. But is it better now in the places where the regimes were overthrown by the Americans and 1 million civilians (at least) lost their lives in the bombings that led to those regime changes? Do you think it matters whether one losses their life by a tyrant or in the aftermath of a bombing that tears your home down? Think as a parent or a man who lost those closest to him.

[mk4]

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.

[hatshepsut93]

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.

Srsly, why would they want to put their trades on fully transparent ledger that can only handle a million transactions per day globally and is not controlled by either of them? What if they will need to reverse a transaction, or block transaction if a hacking incident occurs? I doubt they will ever even hold Bitcoin as a reserve asset, purely out of fear that the US has backdoors to it.

[stompix]

Of course it's not heaven on earth. It's awful living under a tyrant. But is it better now in the places where the regimes were overthrown by the Americans and 1 million civilians (at least) lost their lives in the bombings that led to those regime changes? Do you think it matters whether one losses their life by a tyrant or in the aftermath of a bombing that tears your home down? Think as a parent or a man who lost those closest to him.

Apples and avengers figurines.
Let's compare the regimes, not the war when those same dictators were waging war between them with what can you compare that? If all those poeple are so angry at the US and NATO for the bombing why are they trying to enter Europe by the millions?
Also, can you please show some proof of the claim of 1 million! civilian deaths in the bombing by the US?
Because that number is higher than both Japanese and German causalities from bombing in all of ww2, let's not pull numbers out of our your know what!

Japan was nearly razed to the ground by the US, Korea was looking like a 3rd world country in 1960 yet look, both countries are better of than any in all of Asia. Maybe it's not so much about the failure of the US but the mentality of the poeple there?

Yeah, the US is evil, but miraculously, everyone flocks there, most companies that invest in bitcoin are from the US, it has the most ATMs, most nodes, most lighting nodes, and channels, the biggest share of hashrate, yet ...the US is evil.

The only right way to change in these countries is to come from within the people themselves, but this is an almost impossible mission at the moment.

All the changes have to come from the poeple to make a difference, there are simply some who can't be saved, how has Asia and parts of Europe recovered after far deadlier conflicts and others simply can't, even if they had no major war on the entire continent for a century?

But it's easier for them to point fingers at others.

[tbct_mt2]

Xi pump in 2019, do you remember it?

Bitcoin Jumps 12% as China's Xi Embraces Blockchain, Boosting Crypto Sentiment

How did they engage into Bitcoin and how did they try to manipulate market with national news like that are myth. We are not able to verify their interest in Bitcoin.

I don't think any government will ignore Bitcoin if they see it is store of asset and see chance to get rich for national reserve. Soon, after El Salvador, we will se other nations, from small to big loading up Bitcoin into their national reserves. It would be a very big game.

[Ozero]

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.

Russia and China can create a joint stablecoin or use the already created Chinese digitalized yuan for this. I don't see much of a problem with this. Given the attitude of the governments of these countries towards cryptocurrency, it is safe to say that they will not use bitcoin or other cryptocurrency for this purpose. However, such a problem exists for them, since international sanctions are imposed on both states.