New currency from BRICS countries

[flyingcarpet]

How can a centralized currency can manipulate Bitcoin? can you explain?

It's about politic problem and it's called as dedollarisation where these BRICS countries not want to use or adopt dollar anymore. To be honest there's no problem to Bitcoin because Bitcoin price isn't pegged with any currency and it's can't be manipulated.

I think the person who started the thread is looking at it from the wrong angle. I agree with what you said.

I think he must have looked at it from the wrong angle. Because comparing a central currency and bitcoin is not a correct comparison. They must be making such a decision as a result of developments that have arisen together with political reasons. This has nothing to do with bitcoin. A study to reduce the dominance of the dollar in the world. Probably so. It's not about Bitcoin.

[naira]

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!

Btw you can see the better side and give us a little bit of security. I mean it is true that the United States needs a balance and at the same time becomes a political cycle that is quite hot so that all sides will be very clearly divided. Team A and camp B showed themselves in their respective lines. In addition to geopolitical counterweights, of course this is also tied to how the world economy works. The US will continue to be a competitor that is always a reference for Russia and China, so that it has indirectly shown that US power is not really easy to get rid of in terms of world economic control.

[teosanru]

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 so this will happen, BRICS isn't that big and that United organization that it can create it's own currency. Especially India and China Don't have those sweet relationships as well. Also even if for a second imagine it's true, this will not be because they want to manipulate bitcoin, it'll be because they want to counter the dominance of dollar and Euro in the world. So i don't think this is effecting bitcoin.

[Fortify]

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 only country with a powerful enough economic background to create a reserve country in the "BRICS" (a meaningless grouping of countries by the way, as they are widely disparate and have tenuous economic links) is China. India is never going to enter into any sort of monetary union with China because they are both rivals in Asia trying to wrestle the most power in the region. South Africa is a legitimate, but fairly small economic power in the scheme of things. It would make more sense if some Middle Eastern countries were within the grouping but they are clearly missing too. It's a very flawed methodology to imply these countries would ever willingly share a currency.

[rahulzx]

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?

in my point of view they have long time plan with how to handle global leadership to strongest party that can handle economics & etc. This century have become to conquer the world not from military power but from economical power.

[|MINER|]

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?

In my opinion I think there will nothing to do with brick to manipulate bitcoin. Like others saying I also think that to stabilise Brick as a new currency for get out of the dominance from the US dollar. As China is coming in with big countries like Russia, I think it can create a strong position against the US dollar in the global market. Of course, it is assumed that Europe will not take it well, it remains to be seen how the medialist takes it. I think this initiative step can play a big role in getting rid of the monopoly of dollar, maybe it will take time to be fully effective but I am optimistic.

[Baoo]

Hmmm, what’s the purpose of launching this new digital currency? Are they trying to manipulate the market?
Are they planning to break Bitcoin down? Of couse they are.
To be honest, this reminded of the failed attempt  from wealthy banks when they created XRP coin and boosted large funds just to end Bitcoin and Ethereum. In addition to that, probably they have another purpose of creating this coin which is ending the dominance of some FIAT such as, Euro and USD toward their economies. Hopefully, this new coin BRICS will affect positively on the market.

[nurilham]

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

How BRICS manipulates BTC price?
As far as I know, BRICS isn't made to influence BTC, it is to strengthen the finances of BRICS countries. If BRICS is getting stronger, it just brings impact on dollars, not on Bitcoin price. Bitcoin has nothing to do with BRICS, Bitcoin will always grow whatever happens in dollars. So, I think we shouldn't be so afraid of BRICS, only people who hold dollars must worry about the issue.

https://www.themoneycloud.com/market-insights/current-events/2015/05/what-does-brics-new-currency-reserve-mean-for-you

[Argoo]

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 so this will happen, BRICS isn't that big and that United organization that it can create it's own currency. Especially India and China Don't have those sweet relationships as well. Also even if for a second imagine it's true, this will not be because they want to manipulate bitcoin, it'll be because they want to counter the dominance of dollar and Euro in the world. So i don't think this is effecting bitcoin.

Talk about the new currency of the BRICS countries exists only at the level of the conversations themselves and no more. Although the Russian embassy in Kenya said "the BRICS countries are planning to introduce a new trading currency that will be backed by gold", the New Development Bank, a financial institution created by the BRICS bloc, said in an official statement that it does not have any immediate plans to create a single currencies.

Instead, BRICS members Brazil, Russia, India, China and South Africa are pushing for more bilateral trade in local currencies. They are not ready to challenge the global dominance of the dollar.

Developing something alternative is more of a medium-to-long-term ambition," Leslie Maasdorp, vice president and chief financial officer of the New Development Bank, told Bloomberg. "There are currently no proposals to create a BRICS currency."

Before the virtual BRICS summit, Indian Foreign Minister Dr. S. Jaishankar stated that "there is no idea of a BRICS currency". "Currencies will remain a national issue for a long time to come," Jaishankar added.

https://finance.obozrevatel.com/analytics-and-forecasts/poka-v-rossii-padaet-kurs-rublya-v-kremle-pridumali-valyutu-kotoraya-zamenit-dollar-pyitayutsya-vtyanut-partnerov.htm

[KingsDen]

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?

BRICS wants to develop their own currency because they really think that it is time for them to be free from the dominance of the US dollar, in my opinion it has nothing to do with BTC or to manipulate the crypto market, because their main goal is to destroy the dominance of the USD. You can read about it in this article https://cointelegraph.com/news/russia-talks-up-prospects-of-brics-countries-developing-new-currency

This is not about Bitcoin. Bitcoin has not killed anyone and neither has Bitcoin declared the World War 3 that countries will come together to fight.
This fight is against the dollar and not Bitcoin. I once read that the West Africans wanted to make this move to have one unified currency and it died a natural death because they do not have the political will accomplish it.
Let me see how this will work.

[Jatiluhung]

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

How BRICS manipulates BTC price?
As far as I know, BRICS isn't made to influence BTC, it is to strengthen the finances of BRICS countries. If BRICS is getting stronger, it just brings impact on dollars, not on Bitcoin price. Bitcoin has nothing to do with BRICS, Bitcoin will always grow whatever happens in dollars. So, I think we shouldn't be so afraid of BRICS, only people who hold dollars must worry about the issue.

https://www.themoneycloud.com/market-insights/current-events/2015/05/what-does-brics-new-currency-reserve-mean-for-you

Well I agree that the agenda on everything relating to the BRICS has absolutely nothing to do with Bitcoin. Whether it's the CBDC system developed by the BRICS countries or the agenda for creating a new currency for BRICS members or something like that. all of that is only made to facilitate transactions between countries that are members of the BRICS and for all countries that want to engage in transactions with BRICS members. dedollarization may be another goal. But what is certain is that the BRICS wants to strengthen their economy on the global stage and want to defeat American domination which has so far proven to dominate the global economy.

[DrBeer]

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!

Btw you can see the better side and give us a little bit of security. I mean it is true that the United States needs a balance and at the same time becomes a political cycle that is quite hot so that all sides will be very clearly divided. Team A and camp B showed themselves in their respective lines. In addition to geopolitical counterweights, of course this is also tied to how the world economy works. The US will continue to be a competitor that is always a reference for Russia and China, so that it has indirectly shown that US power is not really easy to get rid of in terms of world economic control.

It's all about the world economy and the world as a whole, it's better when there is:
- Two poles holding each other back.
- Better honest opponents than dishonest friends. I mean, China, at this point, realizes that stupid confrontation, terror, violence - will not do it any good, and is guaranteed to do it harm. That is why China in 2023 OPENLY declared that there are now two poles of geopolitics in the world - the US and China. China threw Russia out of the international arena.

Plus China is quite dependent on the western market and much more, and they benefit from cooperation, albeit with some economic confrontation. That said, China is much more predictable and honest in terms of its words, promises, commitments and treaties. So the world is "balanced" again, all that is left is to remove a world point of instability and terror in every sense.

[Wildwest]

actually this news has been very popular in all media, and this is not a threat to bitcoin but a big threat to the dollar because with the presence of a new currency the dollar will definitely be abandoned and this becomes a new economic competition for the country, and can weaken the dollar, BRICS is a country that is indeed very influential so this is a way to free yourself from the dominance of the dollar, And this will not affect Bitcoin because Bitcoin is not one of the legitimate currencies for now, so its value remains safe and there will definitely be another increase.

[DrBeer]

actually this news has been very popular in all media, and this is not a threat to bitcoin but a big threat to the dollar because with the presence of a new currency the dollar will definitely be abandoned and this becomes a new economic competition for the country, and can weaken the dollar, BRICS is a country that is indeed very influential so this is a way to free yourself from the dominance of the dollar, And this will not affect Bitcoin because Bitcoin is not one of the legitimate currencies for now, so its value remains safe and there will definitely be another increase.

Can you explain the phrase "because with the presence of a new currency the dollar will definitely be abandoned and this becomes a new economic competition for the country" ? I remember - there was a new, quite strong currency EURO.... backed by a stable European economy and many other things. И... nothing happened, nobody abandoned the dollar en masse and switched to the Euro. And here is BRICS, a collection of, to put it mildly, not the most advanced economies, plus it includes outright pariah countries. And who's going to believe in their currency?! Are you serious?
The smartest BRICS members - China and India - are not going to give up the dollar at all

Please explain why anyone should change the dollar to the yuan ?  Very interesting to hear !

[Jatiluhung]

actually this news has been very popular in all media, and this is not a threat to bitcoin but a big threat to the dollar because with the presence of a new currency the dollar will definitely be abandoned and this becomes a new economic competition for the country, and can weaken the dollar, BRICS is a country that is indeed very influential so this is a way to free yourself from the dominance of the dollar, And this will not affect Bitcoin because Bitcoin is not one of the legitimate currencies for now, so its value remains safe and there will definitely be another increase.

The BRICS is indeed quite shocking the world with their economy which is even getting stronger. Even the BRICS Members will probably add more. Even from the Twitter account page @BRICSinfo, I got information that there are about 15 more countries that are interested in joining BRICS. Even Saudi Arabia and the United Arab Emirates which have strong economies also seem to be on the list. This will certainly further strengthen BRICS' position in the global economy. Especially China and Russia which have more influence there. But all this seems to prove that China is really serious about competing with America in terms of the economy. A weaker dollar may one day occur. but I don't think in the near future. because America also has a very strong economic power. so defeating the US Dollar is the hardest thing for any country.


Sourch: https://twitter.com/BRICSinfo/status/1678069729431285762?s=20

[DrBeer]

actually this news has been very popular in all media, and this is not a threat to bitcoin but a big threat to the dollar because with the presence of a new currency the dollar will definitely be abandoned and this becomes a new economic competition for the country, and can weaken the dollar, BRICS is a country that is indeed very influential so this is a way to free yourself from the dominance of the dollar, And this will not affect Bitcoin because Bitcoin is not one of the legitimate currencies for now, so its value remains safe and there will definitely be another increase.

The BRICS is indeed quite shocking the world with their economy which is even getting stronger. Even the BRICS Members will probably add more. Even from the Twitter account page @BRICSinfo, I got information that there are about 15 more countries that are interested in joining BRICS. Even Saudi Arabia and the United Arab Emirates which have strong economies also seem to be on the list. This will certainly further strengthen BRICS' position in the global economy. Especially China and Russia which have more influence there. But all this seems to prove that China is really serious about competing with America in terms of the economy. A weaker dollar may one day occur. but I don't think in the near future. because America also has a very strong economic power. so defeating the US Dollar is the hardest thing for any country.


Sourch: https://twitter.com/BRICSinfo/status/1678069729431285762?s=20

Twitter is of course the most reliable source of the most real information
One simple question - can you find and show everyone here the information - the exchange rate of all currencies, of the BRICS member countries, against the dollar, which they are "effectively fighting". A graph for the last 3 months ?
When you find it, and very probably you will not want to publish it, you will realize that the fairy tale about "BRICS is really shocking the world with its economy, which is even getting stronger" is a fairy tale !
Unfortunately many people see the "public", "advertising" side of BRICS, but not everyone BEFORE they realize what China is really doing, with its "anti-western friends". And I don't understand yet - where it will lead to ! The problem is that when the veil comes off - these "friends" will be in a very difficult position. At the same time, China is really MONOPOLIZING and will CONTROL the economy of its "friends". Or rather "guinea pigs"

[el kaka22]

That would be pretty impossible for it to happen and we are not going to see something like this.

I am not saying that BRICS can't do that , but it is obvious that it would require a wealth that would be insanely difficult to break and even with EURO in this case, Germany has provided so much just to keep the power, and it was definitely the wrong move without a doubt, if they stayed with Mark then they would have been more powerful alone, and yet they wanted to make the whole Europe more powerful together, so Germany had to be less powerful just to make nations like Italy and Greece more powerful, hell Greece bankrupted a million times and saved so many times just because of this like a spoiled child. This won't work as an idea, so it has nothing to do with BRICS.

[DrBeer]

That would be pretty impossible for it to happen and we are not going to see something like this.

I am not saying that BRICS can't do that , but it is obvious that it would require a wealth that would be insanely difficult to break and even with EURO in this case, Germany has provided so much just to keep the power, and it was definitely the wrong move without a doubt, if they stayed with Mark then they would have been more powerful alone, and yet they wanted to make the whole Europe more powerful together, so Germany had to be less powerful just to make nations like Italy and Greece more powerful, hell Greece bankrupted a million times and saved so many times just because of this like a spoiled child. This won't work as an idea, so it has nothing to do with BRICS.

The idea of the EU was precisely to unite the different-level economies of the Union countries for deeper integration, lower costs, and transition to common rules and standards. Yes, Germany, in the first place, took on the responsibility of actually "maintaining" some countries. But the expectation was that they would correctly evaluate the assistance and support and raise their economies to EU standards.

Greece is a great example you have given. Please do not take offense to the residents of Greece - but... Being a country with an ancient history, which has given the world so much useful things, having a very good economy, and suddenly go to the status of a "kept woman" of the EU?! I understand perfectly well that the basis lies in the populism of the government, when many billions of dollars were invested not in the economy, its development, but in pensions, salaries, all sorts of allowances, surcharges and other ineffective spending of money. You have simply - wasted them! Now there are huge debts, distrust, and "crooked views" ...

[Ozero]

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 so this will happen, BRICS isn't that big and that United organization that it can create it's own currency. Especially India and China Don't have those sweet relationships as well. Also even if for a second imagine it's true, this will not be because they want to manipulate bitcoin, it'll be because they want to counter the dominance of dollar and Euro in the world. So i don't think this is effecting bitcoin.

So far, there is no information about any new currency for the BRICS countries. Moreover, the very financial bodies of this organization still object even to the planning of issuing a new currency to serve this economic union of states. Therefore, this is still nothing more than talk that has no serious grounds. Judging by the fact that this group of countries does not include the most developed countries, they will not give up some strong influence on the world economy. But everything will depend on the format in which these countries will work and what their goals of cooperation will be.

[Who is John Galt?]

So far, there is no information about any new currency for the BRICS countries. Moreover, the very financial bodies of this organization still object even to the planning of issuing a new currency to serve this economic union of states. Therefore, this is still nothing more than talk that has no serious grounds. Judging by the fact that this group of countries does not include the most developed countries, they will not give up some strong influence on the world economy. But everything will depend on the format in which these countries will work and what their goals of cooperation will be.

If we imagined that countries that have practically nothing in common, except for an ancient article that used the acronym BRIC, create a common digital currency, then why? None of these countries has expressed a desire to abandon the national currency in favor of any other, moreover, they are now actively engaged in the regulation of their own currencies. There were no global decisions on the part of the entire BRICS, it is still bilateral relations between different countries. Accordingly, it is clear that there are no real prerequisites for such a common currency to succeed, so it would hardly be created. No need.