New currency from BRICS countries

[Woodie]

I have not taken much interest in this, but seeing all the sanctions put on Russia backfiring ...
All I see now is Russia literally  going with the enemy of my enemy is my friend to counter/undo whatever pressure they tried to put on Russia is scary. If you look at this BRICS thing, these guys want to now use their Superpower status to destabilize the US currency and other economies  that peg their money using it...just not sure if Bitcoin is in crossfire but whatever currencies are introduced BTC will still flourish thats for sure.

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

I dont think bitcoin is of any interest to the guys, we all know the target currency here is the US dollar and if anything BTC could gain from this currency war

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[misterrtwisterr]

Honestly, if anyone can introduce a petrodollar competitor, it's BRICS. Not because they're competent, but because USA won't have balls sending their military to China or Russia, like they did with last two guys who tried to pull the same thing.

[umbara ardian]

I see this message has nothing to do with bitcoin or the crypto market. Also, as for whether the new currency could be used to manipulate Bitcoin, I would say that it is unlikely. As for the BRICS countries wanting to create a new currency, I think they want to reduce the dominance of the US dollar. For example, in China, I see that they have been promoting their own currency, the renminbi, as an alternative to the US dollar. With Russia, Iran, Brazil, and a number of African countries allowing their exporters to receive payments directly in China's local currency, in the not too distant future the renminbi will become a formidable force.

[be.open]

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"

It is in the countries of the Big Seven that no one asks anyone - as the main hegemon said, it will be so. And in the BRICS countries, cooperation is carried out on mutually beneficial terms, no one looks down on anyone, and there is no single decision-making center. In a sense, it is a peer-to-peer hierarchy, like the Bitcoin network. Perhaps that is why so many countries want to join the BRICS that they are tired of external pressure and manipulation attempts.

[DrBeer]

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.

China is well aware that it is not able to replace the US and the dollar, or become their competitor. He has other goals. Its goal is to create around itself a belt of satellite countries that will be totally dependent on China/Yuan. How this will be implemented - let's wait quite a bit - the Chinese trap will soon slam shut, and everyone who has accepted the idea of "rejecting the dollar in exchange for the BRICS currency" will become completely dependent on what (I mean the currency and principles of interaction) that China will put in front of them . China openly declares that now HE is the second pole of the bipolar world, and it will LEAD this pole. And without total management and control of financial flows among its satellites, this task will not be solved for China!

[michellee]

I don't really know about it but I don't think BRICS is for manipulating BTC. But I feel that BRICS exists to prevent BTC from becoming the currency for the whole world because BTC cannot be controlled by one government.

Apart from that, BRICS also wants to be a solution to the de-dollarization that has occurred in several countries, especially in Asia. But I don't know what impact the dollar will have.

Apart from the BRICS, another SCO also wants to develop a new currency consisting of the People's Republic of China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. We should just wait for further news about this.

[davis196]

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?

The BRICS countries couldn't care less about manipulating Bitcoin. How did you come up with this weird theory?
They simply want to dump the US dollar completely. I doubt that their attempt at creating an alternative global currency would be successful.
Using their own national currencies instead of the US dollar would be a way more successful approach.

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?

The economy of the so called "west" is artificially pumped by the money printing machines. BRICS countries have a big enough population and natural resources to survive without the "west". Can the "west" survive without the BRICS countries? Most likely yes, but at the cost of lowering the standard of living of the western middle class.

[mvdheuvel1983]

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?

The BRICS wouldn't have any  more impact on Bitcoin than the Dollar is already having. As a matter of fact, to me the proposed currency is just a new improved dollar nothing more. It may even help to reduce the volatility of Bitcoin which to an extent is a result of over dependence on the dollar ( this is my hypothesis) . Well I am happy with the new development and look forward to it coexisting with Bitcoin in the future.

[DrBeer]

The economy of the so called "west" is artificially pumped by the money printing machines. BRICS countries have a big enough population and natural resources to survive without the "west". Can the "west" survive without the BRICS countries? Most likely yes, but at the cost of lowering the standard of living of the western middle class.

Okay, let's assume. But then what do the BRICS countries do? And why do they often have huge inflation, economic problems, and dependence on Western markets for consumption and technology?
And who gave these countries technology? From agricultural to high-tech? Equipment ? You can't become smart just by printing money, and you can't invent a processor or the Internet Or do you have another theory? I'll be happy to listen to it!
And explain - why are all the "independent, non-printing money" BRICS economies so afraid of losing the EU / US markets, and so afraid of sanctions, from those whose economy is built only on paper printing, which, by the way, BRICS does not use? China, for example, has been trying for the second year to persuade the United States not to introduce new and reduce existing technological sanctions restrictions? All in anticipation of your answer!

[kryptqnick]

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. 

That's actually what I fear, the decentralized scenario. It's hard to issue a centralized token that will be under the control of several BRICS countries simultaneously, so a decentralized token that none of them control might be the next best thing. And if they choose a decentralized coin that already exists, so that they don't have to deal with liquidity and there's already some significant demand for that coin, whatever they choose will become the target of Western sanctions and regulations. I just hope it won't be Bitcoin and that a decentralized coin is an unacceptable choice for a bunch of countries that favour authoritarianism over democracy and thus control over freedom.

[slapper]

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.

China is well aware that it is not able to replace the US and the dollar, or become their competitor. He has other goals. Its goal is to create around itself a belt of satellite countries that will be totally dependent on China/Yuan. How this will be implemented - let's wait quite a bit - the Chinese trap will soon slam shut, and everyone who has accepted the idea of "rejecting the dollar in exchange for the BRICS currency" will become completely dependent on what (I mean the currency and principles of interaction) that China will put in front of them . China openly declares that now HE is the second pole of the bipolar world, and it will LEAD this pole. And without total management and control of financial flows among its satellites, this task will not be solved for China!

China's crafty plan, a satellite belt? Bold! By shackling countries to China and the Yuan, they're quietly asserting dominance. But at what price? The danger? A homogenized, competition-free financial world. If China's the only player, innovation might stall, ideas wither.

Yet, China's ascent could spark good things. Imagine a bipolar globe, China leading the other pole, focusing on sustainability, social duty. They've made strides; it'll go on. Risks and rewards, China's strategy has them. The crux? Balancing rivalry and teamwork for a thriving financial landscape. Let's be unpredictable!

[Gyfts]

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?

The BRICS countries couldn't care less about manipulating Bitcoin. How did you come up with this weird theory?
They simply want to dump the US dollar completely. I doubt that their attempt at creating an alternative global currency would be successful.
Using their own national currencies instead of the US dollar would be a way more successful approach.

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?

The economy of the so called "west" is artificially pumped by the money printing machines. BRICS countries have a big enough population and natural resources to survive without the "west". Can the "west" survive without the BRICS countries? Most likely yes, but at the cost of lowering the standard of living of the western middle class.

I wouldn't put it past them. The only country to worry about in "BRICS" would be China. India's economy is not yet large enough and they're more democratized than the CCP. China's looking to form dependence on Yuan by other countries -- does it seem so wildly speculative that China predicts Bitcoin to be a future threat? Do not think short term -- think 10-20 years down the line. Could there reasonably be a world in which countries use decentralized currencies to conduct bilateral trades/transactions that would cause China some concern if their long term goal is Yuan dependence onto other countries?

[justdimin]

China is well aware that it is not able to replace the US and the dollar, or become their competitor. He has other goals. Its goal is to create around itself a belt of satellite countries that will be totally dependent on China/Yuan. How this will be implemented - let's wait quite a bit - the Chinese trap will soon slam shut, and everyone who has accepted the idea of "rejecting the dollar in exchange for the BRICS currency" will become completely dependent on what (I mean the currency and principles of interaction) that China will put in front of them . China openly declares that now HE is the second pole of the bipolar world, and it will LEAD this pole. And without total management and control of financial flows among its satellites, this task will not be solved for China!

Like USA did to other nations? I understand that you are an American and go around the forum protecting USA and its interest because that is what nationalism does to you. But even though I agree what you said about China is true, it doesn't change the fact that USA has ruined multiple nations with the exact same method as well. Look at Latin America, between disrupting the governments, putting oil companies that basically steal oil out of it, and forcing plenty of small nations to keep accepting dollars, there are so many nations that did so badly so far.

I think that is going to be a tough one, it is going to be a trouble. I believe that every nation should deal with their own currency between each other, and that's how the world will be much better place, not USA, not China, each nation uses their own currency between each other.

[Davidvictorson]

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 like this because personally, I would like to see how it ends and the effects it will have on the economic, financial and other sectors of the countries that are both  directly and indirectly. I am curious. So will other south-African countries impose the use of the new currency? Will they create their own "BRICs World Bank" and give out low interest loans to undeveloped countries? There's a lot of interesting things that's going to happen soon.

[uneng]

I doubt they are going to create a personal currency for BRICS. What really matters are the businessmen of these countries and I'm sure that between using dollar or any other unknown random currency they are going to prefer dollar yet... At least it has a history of reputation along the centuries, compared to other fiat currencies. It's not perfect, but among the disponible alternatives, it's the finest one.

Who in sane mind would prefer a currency launched by the most populist and liar global leaders of the world, such as Putin, Xi Jinping and Lula?

[usekevin]

In this three countries are developed countries,the rest two are developing countries.The developed nation will support the developing countries by the economic funds allocation.When the new currency was launched like the European nation,the currency will be supplied through out this countries.So the internal transaction will be very smooth because of same money used in this five countries.If the developing country India and South Africa want to exchange their goods to Brazil,Russia,China will be easy one.So this two country can earn more money and became a developed country.For this all the five country need the full cooperation.

[Antotena]

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?

What do you mean by manipulate BTC? Is that enough to manipulate bitcoin price? This is not the first sovereign nations to build something like this and they are using it for settlement and legal tender, no way that can be a tool to manipulate the price of bitcoin, they don't hold the power to control the price of bitcoin that is used around the world.

[DrBeer]

Like USA did to other nations? I understand that you are an American and go around the forum protecting USA and its interest because that is what nationalism does to you. But even though I agree what you said about China is true, it doesn't change the fact that USA has ruined multiple nations with the exact same method as well. Look at Latin America, between disrupting the governments, putting oil companies that basically steal oil out of it, and forcing plenty of small nations to keep accepting dollars, there are so many nations that did so badly so far.

I think that is going to be a tough one, it is going to be a trouble. I believe that every nation should deal with their own currency between each other, and that's how the world will be much better place, not USA, not China, each nation uses their own currency between each other.

I am a citizen of a beautiful European country - Ukraine, which is now suffering from a terrorist massacre organized by the terrorist country Russia. But the good thing is that soon we will drive an aspen stake into the heart of rashizm!

Do you think that if I say real things, give arguments, give logical answers and show causal relationships - I am definitely a US citizen?
You are obsessed with the United States, the only thing I can say.

But back to your question "How did the US deal with other countries" and the topic. And what - the United States issued counterfeit dollars to other countries? Or does not support the dollar? Or do they have a third world economy? What have they "done with other countries"? Waiting for examples with facts, within the framework of this topic?

[DrBeer]

It is in the countries of the Big Seven that no one asks anyone - as the main hegemon said, it will be so. And in the BRICS countries, cooperation is carried out on mutually beneficial terms, no one looks down on anyone, and there is no single decision-making center. In a sense, it is a peer-to-peer hierarchy, like the Bitcoin network. Perhaps that is why so many countries want to join the BRICS that they are tired of external pressure and manipulation attempts.

Thank you so much - I laughed heartily in the morning, and now in a good mood for the whole day

Honestly, if anyone can introduce a petrodollar competitor, it's BRICS. Not because they're competent, but because USA won't have balls sending their military to China or Russia, like they did with the last two guys who tried to pull the same thing.

All true, but there is a nuance. The US will not attack a degraded Russia, because.. It is already being slowly swallowed up by China. Russia is just a bargaining chip in the big geopolitical game of the two major powers. And believe me - for the United States, some kind of counterbalance is always needed: this holds back both sides, and it is beneficial for the United States itself - there is always someone to "write off the budget" to. Think a little wider than populist slogans!

[barbara44]

I wouldn't put it past them. The only country to worry about in "BRICS" would be China. India's economy is not yet large enough and they're more democratized than the CCP. China's looking to form dependence on Yuan by other countries -- does it seem so wildly speculative that China predicts Bitcoin to be a future threat? Do not think short term -- think 10-20 years down the line. Could there reasonably be a world in which countries use decentralized currencies to conduct bilateral trades/transactions that would cause China some concern if their long term goal is Yuan dependence onto other countries?

I feel like whatever nations can do, they are allowed to it, not like anyone forces them to do anything. Lets assume that China is spending money and time on making other nations depend on them, if other nations don't fall for it, they can avoid it, but if other nations end up accepting that, then there is nothing we can do about it.

For example, China is spending tens of billions of dollars to build amazing infrastructures, literally making the nation from scratch, its airports, roads, hospitals and so much more and in return they only want one thing; trade them using yuan and nothing else. They don't even meddle with us spending dollar in trading with others, they only want us to trade using yuan with them, if more then that's great but the only requirement is them.

Is that a trick to make us depend on them? Surely, but they are at least giving something in return too, so far we have used dollars with everyone and USA offered absolutely nothing for it, so this is at least better.