New currency from BRICS countries

[tabas]

Even though it was late still it's a brilliant futuristic idea of replacing dollar by other currencies for global trade. Because of dollar only so far all nations are suffering economically. Finally people outside NATO states will have sign, free from one sided dollar repression, sanction financial and military harmony.

That will take time. It's trendy that dollar is going to be devaluated because of this but then, it's hard to say if they can do what's being said to pull down dollars value through BRICS. Still, they're a few countries but then their economy will be impactful if they loose their ties with US and its dollar as its global currency for their trades. I think it's just there to start convincing other countries to join them with this globalization but then, many are still reluctant on it and won't jive in quickly just because it's been formed.

This also means that USD will not control the global market anymore, not to mention that when USD weakens, bitcoin will definitely go up and I am sure that a lot of us would want that to happen. My only fear with this is that China and Russia is leading this and it's definitely going to be bad for some Asian countries that aren't Chinese or Russian friendly.

We have to wait until it actually happens but for now, it's still controlling the world economy because it's the base of most trades and pairs of local currencies. I want to see bitcoin have its value go down but not optimistic to see that two countries go up as their ideology isn't optimistic and in line with most people.

[gunhell16]

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

Yang Brics is made under regulated business dude, has anyone read in this industry that the regulated coins in cryptocurrency can control Bitcoin? in the entire world today not a single country has yet controlled Bitcoin.

Honestly, I laughed at your question, it's like you're saying that a centralized has the ability to control decentralized concepts.

[DrBeer]

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”.

[avikz]

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.

[Zlantann]

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”.

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.

[serveria.com]

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 don't think the idea behind this new currency is to manipulate Bitcoin. I'm also pretty skeptical regarding all these artificially created currencies. USD will die eventually and cease being a global reserve currency, but it has to die of natural causes so to say, any artificial new currencies are destined to fail. I guess they're doing this simply because they can't agree on which of their national currencies will be used as a reserve currency (Yuan or Ruble?)

[Jatiluhung]

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?

There is no manipulation of bitcoins in relation to the agenda for creating a new currency within the BRICS. They are just trying to no longer depend on the dominance of the dollar. And for now they carry out international trade among the member countries with their respective currencies. But I see that Yuan's domination will develop in the future. but there are also reports that they are developing a digital currency for the BRICS. but China's trade is very broad and even reaches almost all countries. So I feel there will be a lot of use of Chinese Yuan in international trade in the future.

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.

Sourch :
- https://kripto.ajaib.co.id/negara-brics-arab-saudi-brasil-tiongkok-asean-menjauhi-dolar-as/
- https://jogja.tribunnews.com/amp/2023/02/13/bakal-tinggalkan-barat-arab-saudi-minat-gabung-blok-ekonomi-brics
- https://www.google.com/amp/s/amp.scmp.com/comment/opinion/article/3209345/brics-expanding-saudi-arabia-indonesia-and-beyond-holds-promise-challenges-remain

[Unbunplease]

The creation of new currencies may not affect bitcoin in any way, as these currencies may simply not be used on cryptocurrency exchanges. new currencies can be used for internal settlements. So I wouldn't get too euphoric about this news. Plans can change repeatedly.

[be.open]

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.

[Lorence.xD]

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

[Jatiluhung]

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.

[be.open]

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.

[DrBeer]

...
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

[kryptqnick]

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]

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"

[dansus021]

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

[ringgo96]

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.

[Dalib]

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.

[GigaBit]

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.

[Kakmakr]

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. 

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.