Xi, Putin wants Bitcoin without wanting Bitcoin

[worle1bm]

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.

Right they wouldn't use bitcoin for these purposes and by the term independent financial infrastructure they mean ending up US dollar power but it would be under their control so people will still be using the same centralised currency payment under their control which sums up it's nothing like bitcoin.When it comes to China the word freedom is automatically vanished and they are setting it up  for their own benefits not the residents.

[livingfree]

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.

[jrrsparkles]

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.

[Wind_FURY]

Does this have anything in common with the news of Iran and Russia trying to scheme together a gold backed shitcoin?

Source:
https://bitcointalk.org/index.php?topic=5435959.0

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://bitcointalk.org/index.php?topic=5377182.msg61609872#msg61609872

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.

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.

[zasad@]

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.

[livingfree]

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.

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.

Yeah, that's certainly where bitcoin is going as we all knew about it and even if they will come up with another centralized ledger that only two of them uses, that values nothing to the entire world.

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.

[Wind_FURY]

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.

[Smartprofit]

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.