How will the BRICS currency influence Bitcoin?

[Ayers]

Something interesting to point out is that US,UK,EU need China and their colonies to survive. For example the day France loses its African colonies is the day that it becomes a country weaker and more destroyed than Afghanistan! Or for example if China stopped its exports to US completely today, tomorrow US economy would be crippled with severe shortage of strategic goods leading to domestic chaos.

France becomes weaker and more destroyed than Afghanistan? Simply, how do you predict that? French has great universities, educated population, good infrastructure, good logistics, good doctors and many other benefits over many other country, especially over Afghanistan. There is simply no way that France will become weaker or more destroyed than Afghanistan, there is simply no way unless nuclear weapons explode on their heads.
By the way, what will happen to China if America stops trading with them? Won't their economy be in severe trouble?

It would be a bit of an exaggeration to say that France would be more destroyed than Afghanistan when it lost its African colonies, but it cannot be denied that with the loss of its African colonies, France would be somewhat weaker.

As for China and the US, both will be devastated if they stop trading with each other in all fields. In my opinion, although BRICS and the US will confront each other in many fields, our world is a chain and each country is closely linked in certain aspects. Therefore, they cannot completely cut off contact with each other in all fields no matter what happens.
China needs the US to be able to export goods and vice versa, the US also needs a large supplier of goods like China, it can be said that both need each other to survive.

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[Volimack]

The creation of BRICS currency as an alternative to Bitcoin is a kind of fantasy or unrealistic. If countries want to unite and introduce a single currency system the influence of the largest and most powerful economy must be accepted. Apart from the core BRICS countries other countries are also doing business in local currencies. But creating an alternative to Bitcoin would be an attempt to change the structure of global governance in general terms.

[Kakmakr]

The creation of BRICS currency as an alternative to Bitcoin is a kind of fantasy or unrealistic. If countries want to unite and introduce a single currency system the influence of the largest and most powerful economy must be accepted. Apart from the core BRICS countries other countries are also doing business in local currencies. But creating an alternative to Bitcoin would be an attempt to change the structure of global governance in general terms.

I think you misunderstand the motivating factor for the establishment of this group, they do not want the participation of the strong Western countries.

They want to establish a "New" competition for the Western dominance by the West over the global economy. Those coutries misused their "power" according to them to advantage their own pockets.  

[pooya87]

France becomes weaker and more destroyed than Afghanistan? Simply, how do you predict that? French has great universities, educated population, good infrastructure, good logistics, good doctors and many other benefits over many other country, especially over Afghanistan. There is simply no way that France will become weaker or more destroyed than Afghanistan, there is simply no way unless nuclear weapons explode on their heads.

Situation in Afghanistan isn't bad because they didn't have great universities, doctors, infrastructure, etc. Have you even seen Afghanistan before the foreigners came to fight their wars there? It was one of the most beautiful and modern places on earth at the time.

Europe without colonies goes back to dark ages, the most recent one was the 20'th century. Each year with wars amongst different regional powers that destroyed each other. The only time they haven't been at each other's throats has been over the past couple of decades after European War 2 (aka World War 2).
So yes, I do believe that France without its colonies (eg. if Africans keep kicking them out and most importantly if they can get rid of the colonization tools such as the plague called Franc) would be on a devastating path starting from devastation of its economy and followed by regional conflicts. Wars that would destroy all its infrastructure just like what the colonizers did to Afghanistan.

By the way, what will happen to China if America stops trading with them? Won't their economy be in severe trouble?

It will crash hard but it will survive because US is not the only export target China has and Chinese economy and GDP as I keep repeating is not a Ponzi Scheme like US economy is, it is based on actual domestic production.

[dezoel]

The "fight" that you guys have about UK or USA or basically just lets say "west" to nations the in the east, such as Russia and China, is lovely to see by people who are not from any of those nations. I suggest you keep that up, we love it when West fights East, and vice versa, it benefits us the most.

I do hope that USA economy crashes, I also hope Chinese one too, and UK too and Russia too, when that happens, it always benefits us from smaller nations, at least nations that are not that big. We benefit from the crumbs when the cake is gone, and if it is like this, I am all for it. I believe that the reality is that crypto will be getting greater and greater, we are going to keep seeing people invest a lot more to it.

[DrBeer]

BRICS is a rather feeble attempt by countries to overturn the US petrodollar... not gonna happen. Its pointless really because to trade with any non BRICS country they have to resort back to the US dollar. And even if they use a gold backed currency US owns the largest gold reserves in the world.

A lot of these countries started to use Crypto currencies like Bitcoin to bypass these restrictions, so it will be natural that less demand for Bitcoin would occur, once these countries created their own single currency.

What is your source for this? I haven't heard anything that is noteworthy. Plus wasn't Bitcoin banned like 10 times in China. And I'm pretty sure Saudi Arabia has a ban on it too. So in short no it won't influence Bitcoin.

Do you think BRICS countries might opt to use Bitcoin for international trade or even as a replacement for the US Dollar? Will they simply exchange local currencies OR will they develop something new? ( Something that can be controlled by them?)

I think, since China already have the Digital Yuan and India have a strong developer community in big name projects (like Polygon), the option that makes most sense is that a native cryptocurrency/"stable" blockchain will be created for international trade, with some sort of backing (like Gold, considering China and Russia have a TON of gold in comparison to other nations).

Simple question - can anyone confirm gold reserves in Russia and China?
I will answer:
1. China has classified all information about gold reserves, volumes, structure, etc. Therefore, what is publicized is only words.
2. Russia, being a pariah country with a degenerating economy, sells gold and ... constantly lies about everything. From its "greatness" to ... yes yes, gold reserves.

So, I would definitely not use this information as a basis for any conclusions.

In comparison these countries have nowhere near what the US has. https://www.gold.org/goldhub/data/gold-reserves-by-country

1. the BRICS was not originally an "alliance against the dollar", it was an alliance "for regional development". It is enough to read about the history, goals.  But then, somewhere in the last 2-3 years, China started to actively stir up information noise about "de-dollarization" and quietly began to promote "yuanization"/ It was at this point that BRICS turned from a union, an economic union with good potential, into a political squabble and a club of saviors of the Chinese economy. As a result, they lost the unity of goals and prospects for consolidated development, which is now well observed. Argentina has left the union, India does not want China's hegemony, China is not very successful in pushing its yuan...At the same time it is quietly accumulating dollar reserves and US government bonds, while continuing to incite everyone else to give it up I think many people have already realized WHY China is doing this.....

2. Regarding the real reserves of China and Russia - no one doubts that there is a huge gap between their statements and the real state of affairs

[DVlog]

The "fight" that you guys have about UK or USA or basically just lets say "west" to nations the in the east, such as Russia and China, is lovely to see by people who are not from any of those nations. I suggest you keep that up, we love it when West fights East, and vice versa, it benefits us the most.

I do hope that USA economy crashes, I also hope Chinese one too, and UK too and Russia too, when that happens, it always benefits us from smaller nations, at least nations that are not that big. We benefit from the crumbs when the cake is gone, and if it is like this, I am all for it. I believe that the reality is that crypto will be getting greater and greater, we are going to keep seeing people invest a lot more to it.

Yes, let all the major power's economies crash and all the smaller nations start fighting with each other which will lead to World War 3. Great idea after all i must say. This will also help to reduce the over population problem of the earth. A powerful nation is essential to keep stability in the world because just think what North Korean would do if the USA didn't exist. south Korea would be no more and japan would also be in danger do you think little kim would stop there?

If the USA economy crashes it will create such instability in worldwide economy that we don't know its aftermath. Crypto will also be affected because there is so much USD inflow in crypto than other currencies.

[franky1]

1. the BRICS was not originally an "alliance against the dollar", it was an alliance "for regional development". It is enough to read about the history, goals.  But then, somewhere in the last 2-3 years, China started to actively stir up information noise about "de-dollarization" and quietly began to promote "yuanization"/ It was at this point that BRICS turned from a union, an economic union with good potential, into a political squabble and a club of saviors of the Chinese economy. As a result, they lost the unity of goals and prospects for consolidated development, which is now well observed. Argentina has left the union, India does not want China's hegemony, China is not very successful in pushing its yuan...At the same time it is quietly accumulating dollar reserves and US government bonds, while continuing to incite everyone else to give it up I think many people have already realized WHY China is doing this.....

2. Regarding the real reserves of China and Russia - no one doubts that there is a huge gap between their statements and the real state of affairs

might want to check the BIS website.. not social media
its not a YUANIZATION
its not a scenario of all countries using the YUAN
its instead multiple CBDC collectively swapping via an m-bridge with no single "reserve" master currency
each country has its own CBDC

[pooya87]

think what North Korean would do if the USA didn't exist. south Korea would be no more and japan would also be in danger do you think little kim would stop there?

If USA didn't exist or hadn't meddled in that region, the conflict there wouldn't have gotten to this stage and Japan hadn't been nuked and occupied all these years not allowing them to even have a half decent military so they wouldn't have been in any danger to begin with

[Etranger]

The "fight" that you guys have about UK or USA or basically just lets say "west" to nations the in the east, such as Russia and China, is lovely to see by people who are not from any of those nations. I suggest you keep that up, we love it when West fights East, and vice versa, it benefits us the most.

I do hope that USA economy crashes, I also hope Chinese one too, and UK too and Russia too, when that happens, it always benefits us from smaller nations, at least nations that are not that big. We benefit from the crumbs when the cake is gone, and if it is like this, I am all for it. I believe that the reality is that crypto will be getting greater and greater, we are going to keep seeing people invest a lot more to it.

Yes, let all the major power's economies crash and all the smaller nations start fighting with each other which will lead to World War 3. Great idea after all i must say. This will also help to reduce the over population problem of the earth. A powerful nation is essential to keep stability in the world because just think what North Korean would do if the USA didn't exist. south Korea would be no more and japan would also be in danger do you think little kim would stop there?

If the USA economy crashes it will create such instability in worldwide economy that we don't know its aftermath. Crypto will also be affected because there is so much USD inflow in crypto than other currencies.

Most likely it will happen in the near future. The world is changing, it became obvious a decade ago, but it became even more obvious after the beginning of the full-scale war russia started against Ukraine. The big countries feel their power, might and even right to invade smaller states. The result of these wars will show how exactly the situation will unfold further. We don't know the aftermath, that's for sure. But what we know is that the world cannot exist no longer the way it has been for the last 60-70 years, when it was obvious which country was a global leader and mentor. This role is more vacant now than years before.

[pinggoki]

To some degree they'll probably move the bitcoin market but they're still in infancy so I don't think that they're going to influence too much but I think they'll affect the world market even more than the bitcoin market so it's not really a problem for us anytime soon.

If USA didn't exist or hadn't meddled in that region, the conflict there wouldn't have gotten to this stage and Japan hadn't been nuked and occupied all these years not allowing them to even have a half decent military so they wouldn't have been in any danger to begin with

If US didn't stop the rampage of Japan in the Pacific theatre, there's a possibility that Korea wouldn't even be a thing anymore because Japan would've kept a foothold there for so long that we would've just accepted that Korea is just a part of the Imperial Japan. I feel like there's been a lot of apocalypse events that would've happened if the US didn't interfere at some level, even if we were to say that they're an opportunist it's still a good thing that they somehow intervened, I mean imagine a world rife of communists.

[pooya87]

it's still a good thing that they somehow intervened

The tens of millions of people who were murdered by US regime's interventions across the world would disagree with you.

I mean imagine a world rife of communists.

Yeah we don't have a world with communist ruling it, instead we are witnessing a world where imperialists and colonizers took over. Their most recent murdering rampage is a genocide that is still going on inside Palestine where in the past 100 days they're leaving behind 1000 casualties every day, half of them are children!

[DrBeer]

The "fight" that you guys have about UK or USA or basically just lets say "west" to nations the in the east, such as Russia and China, is lovely to see by people who are not from any of those nations. I suggest you keep that up, we love it when West fights East, and vice versa, it benefits us the most.

I do hope that USA economy crashes, I also hope Chinese one too, and UK too and Russia too, when that happens, it always benefits us from smaller nations, at least nations that are not that big. We benefit from the crumbs when the cake is gone, and if it is like this, I am all for it. I believe that the reality is that crypto will be getting greater and greater, we are going to keep seeing people invest a lot more to it.

Tell me - what is your benefit, for you and your country, of the collapse of the economies of China and the USA ?  Just please elaborate - what will happen, what will be affected, what positive aspects will be for you/your country. Also please tell us how you assess the risks of the world economy, after the collapse of the economies of China and the U.S., and why it will not affect your country, of course - negatively will not affect ?  I would like to understand what your country's economy can give to the world, in the absence of the above two, given the real problems of the world ?

[GiftedMAN]

The creation of BRICS currency as an alternative to Bitcoin is a kind of fantasy or unrealistic. If countries want to unite and introduce a single currency system the influence of the largest and most powerful economy must be accepted. Apart from the core BRICS countries other countries are also doing business in local currencies. But creating an alternative to Bitcoin would be an attempt to change the structure of global governance in general terms.

I don't think the brics has may plan to create a currency that would be able to compete with the US dollar. The creation of the BRICS is for countries to reunite and tackle to excessive sanctions that United States government is using to tackle countries that do not succumb to there idea or instructions. The United States had been exercising her power attacking other countries that do not want to support their ideas. The BRICS is just need and I think with time the countries in the association had been planing of ways they could dish out the USD so that the influence would not be too excessively used against smaller countries or countries that do not have the power to fight for themselves.

[DrBeer]

1. the BRICS was not originally an "alliance against the dollar", it was an alliance "for regional development". It is enough to read about the history, goals.  But then, somewhere in the last 2-3 years, China started to actively stir up information noise about "de-dollarization" and quietly began to promote "yuanization"/ It was at this point that BRICS turned from a union, an economic union with good potential, into a political squabble and a club of saviors of the Chinese economy. As a result, they lost the unity of goals and prospects for consolidated development, which is now well observed. Argentina has left the union, India does not want China's hegemony, China is not very successful in pushing its yuan...At the same time it is quietly accumulating dollar reserves and US government bonds, while continuing to incite everyone else to give it up I think many people have already realized WHY China is doing this.....

2. Regarding the real reserves of China and Russia - no one doubts that there is a huge gap between their statements and the real state of affairs

might want to check the BIS website.. not social media
its not a YUANIZATION
its not a scenario of all countries using the YUAN
its instead multiple CBDC collectively swapping via an m-bridge with no single "reserve" master currency
each country has its own CBDC

I agree, English is not my native language, and maybe I did not convey the main idea very well. I will try to explain it more simply. I wanted to say that over the last 2 years, China has been trying to promote its yuan to the BRICS countries, while actively promoting another topic - de-dollarization. You can simply find information in the interval 2022-2023, where China, at every opportunity, says "let's transfer settlements between us - in yuan", "our strongest economy is behind the yuan - it is more stable than the US dollar", "the dollar is not stable, the yuan is more flexible, we will help you all" - these are their open proposals. But what I completely agree with you - China has been suggesting other countries to abandon the dollar, while not abandoning the dolar itself !
A good example is when China sold the "very stable yuan" to russia for, you guessed it.... DOLLARS, after which, in 3 months the yuan suffered a very bad inflation. Losses of Russia - tens of billions of dollars, respectively - the same level of income of China, on the very process of "dedollarization".  

[franky1]

1. the BRICS was not originally an "alliance against the dollar", it was an alliance "for regional development". It is enough to read about the history, goals.  But then, somewhere in the last 2-3 years, China started to actively stir up information noise about "de-dollarization" and quietly began to promote "yuanization"/ It was at this point that BRICS turned from a union, an economic union with good potential, into a political squabble and a club of saviors of the Chinese economy. As a result, they lost the unity of goals and prospects for consolidated development, which is now well observed. Argentina has left the union, India does not want China's hegemony, China is not very successful in pushing its yuan...At the same time it is quietly accumulating dollar reserves and US government bonds, while continuing to incite everyone else to give it up I think many people have already realized WHY China is doing this.....

2. Regarding the real reserves of China and Russia - no one doubts that there is a huge gap between their statements and the real state of affairs

might want to check the BIS website.. not social media
its not a YUANIZATION
its not a scenario of all countries using the YUAN
its instead multiple CBDC collectively swapping via an m-bridge with no single "reserve" master currency
each country has its own CBDC

I agree, English is not my native language, and maybe I did not convey the main idea very well. I will try to explain it more simply. I wanted to say that over the last 2 years, China has been trying to promote its yuan to the BRICS countries, while actively promoting another topic - de-dollarization. You can simply find information in the interval 2022-2023, where China, at every opportunity, says "let's transfer settlements between us - in yuan", "our strongest economy is behind the yuan - it is more stable than the US dollar", "the dollar is not stable, the yuan is more flexible, we will help you all" - these are their open proposals. But what I completely agree with you - China has been suggesting other countries to abandon the dollar, while not abandoning the dolar itself !
A good example is when China sold the "very stable yuan" to russia for, you guessed it.... DOLLARS, after which, in 3 months the yuan suffered a very bad inflation. Losses of Russia - tens of billions of dollars, respectively - the same level of income of China, on the very process of "dedollarization".  

the media speculation of "use yuan" is not a BRICS plan. its a separate thing regarding the "Belt and Road Initiative"(BRI) also known as "new silk road" project.
whereby china gave out loans to many countries to construct seaports, highways, etc. but those loans were to be repaid in USD. china wanted them repaid in Yuan.

media mis-interpreted a multinational construction project(BRI) with the BRICS commonwealth project
(2 separate projects with similar abbreviations, but have different scopes of function)

[DrBeer]

1. the BRICS was not originally an "alliance against the dollar", it was an alliance "for regional development". It is enough to read about the history, goals.  But then, somewhere in the last 2-3 years, China started to actively stir up information noise about "de-dollarization" and quietly began to promote "yuanization"/ It was at this point that BRICS turned from a union, an economic union with good potential, into a political squabble and a club of saviors of the Chinese economy. As a result, they lost the unity of goals and prospects for consolidated development, which is now well observed. Argentina has left the union, India does not want China's hegemony, China is not very successful in pushing its yuan...At the same time it is quietly accumulating dollar reserves and US government bonds, while continuing to incite everyone else to give it up I think many people have already realized WHY China is doing this.....

2. Regarding the real reserves of China and Russia - no one doubts that there is a huge gap between their statements and the real state of affairs

might want to check the BIS website.. not social media
its not a YUANIZATION
its not a scenario of all countries using the YUAN
its instead multiple CBDC collectively swapping via an m-bridge with no single "reserve" master currency
each country has its own CBDC

I agree, English is not my native language, and maybe I did not convey the main idea very well. I will try to explain it more simply. I wanted to say that over the last 2 years, China has been trying to promote its yuan to the BRICS countries, while actively promoting another topic - de-dollarization. You can simply find information in the interval 2022-2023, where China, at every opportunity, says "let's transfer settlements between us - in yuan", "our strongest economy is behind the yuan - it is more stable than the US dollar", "the dollar is not stable, the yuan is more flexible, we will help you all" - these are their open proposals. But what I completely agree with you - China has been suggesting other countries to abandon the dollar, while not abandoning the dolar itself !
A good example is when China sold the "very stable yuan" to russia for, you guessed it.... DOLLARS, after which, in 3 months the yuan suffered a very bad inflation. Losses of Russia - tens of billions of dollars, respectively - the same level of income of China, on the very process of "dedollarization".  

the media speculation of "use yuan" is not a BRICS plan. its a separate thing regarding the "Belt and Road Initiative"(BRI) also known as "new silk road" project.
whereby china gave out loans to many countries to construct seaports, highways, etc. but those loans were to be repaid in USD. china wanted them repaid in Yuan.

media mis-interpreted a multinational construction project(BRI) with the BRICS commonwealth project
(2 separate projects with similar abbreviations, but have different scopes of function)

I'm not arguing, your opinion has a right to life, but...I disagree. I know a different story, or I judge a story by other FACTS
1. What I completely agree with - yuanization is definitely not a BRICS project. It is a FACT !

2. Let me clarify again - it is a project of China to save its economy. And I must give credit to China, it behaved extremely cunningly - supporting and inflating the topic of BRICS dedolarization, it "in a friendly manner" offered its own solution - "let's make yuan the inter-union currency of BRICS". This is also a FACT !
What is pleasing - not all the governments of the member countries turned out to be fools, and would have realized this "friendly help"

3. China makes loans in yuan, and expects repayment in yuan. Logically, this is also a mechanism for "exporting inflation". At the same time, do not forget that China also issues loans in dollars and demands repayment in dollars. And in this case it uses a very clever mechanism, I have already described it - the loans are essentially returned immediately, the obligations remain on the one who received the loan, and often - the object of investment, then, by "coincidence" gets China a small percentage of its value. The "perfect example" is the construction in Sri Lanka, with the involvement of "Chinese investment", read what global problems it led to. And this is not the only such "Chinese investment project in friendly countries".  It is also a FACT

[pooya87]

~
the media speculation of "use yuan" is not a BRICS plan. its a separate thing regarding the "Belt and Road Initiative"(BRI) also known as "new silk road" project.
whereby china gave out loans to many countries to construct seaports, highways, etc. but those loans were to be repaid in USD. china wanted them repaid in Yuan.

media mis-interpreted a multinational construction project(BRI) with the BRICS commonwealth project
(2 separate projects with similar abbreviations, but have different scopes of function)

DrTroll is twisting every fact like always but also I have to say it's not just about the Belt and Road thing as you said.
You see BRICS is also an economic bloc to address the flaws in the previous unipolar world where for example a country that needed a loan had to beg US regime (ie. IMF regardless of what I stands for) and then US dictated a lot of things in that country's domestic affairs and at the end even after the country complied they didn't receive the loan in full and they also had to end up paying back a much higher amount since US decided to increase interest rates which would bankrupt that country even more.

For example take Pakistan, a couple of years ago they needed a loan from IMF specially after the flood. US demanded a lot of changes in their country that included increasing the gas price that crippled their economy even more. After complying with all of them, they didn't even receive the full loan!

Now enters BRICS and of course big economies like China with a ton of money to give out as loans. Now these countries can easily take a loan from BRICS and not have anybody meddle in their domestic affairs like forcing them to increase gas price to get the loan! Or replay a higher amount back because China increased their interest rates. Since BRICS currency is not created yet, they take the loan in something like Yuan. They use the loan for anything they want though, not just for B.R.I.

This is a win-win situation, China is strengthening Yuan while weakening Dollar and the win-win situation is at least for now until the New World Order is solidified.

[AVE5]

On a matter of contemptuousness, average individuals from the BRICS would have such as an opportunity for profitable source without on a private note without undermining what the biased visions of their BRICS government thoughts might be.
But a tussle of economical bridges amongst both the BRICS and the US, I wouldn't think of rh BRICS government would ever be submissive to adopt the system of the Bitcoin. I can bet there could be something cooking behind of the BRICS in alliance with such related zones that frowns against the capacity of the US $. Probably it would take time to be revealed. And the US would definitely not sleep on board while they are suppressed in due time neither would the BRICS and it's alliance give it up a loyalty to the US $. This would really cause a global panic and clearly without being sentimental, an unjust and uncalled-for and unnecessary awareness of power tussles.

[rat03gopoh]

Tell me - what is your benefit, for you and your country, of the collapse of the economies of China and the USA ?

It seems like he's anti-superpower, I get his point of view in his other posts and bigger glasses (not just to his own country).https://bitcointalk.org/index.php?topic=5473385.msg63162743#msg63162743
But I think it's too much to pray like that, most of their wars are based on government commands and not all of their people vote on those decisions. Meanwhile, the economy crissis is a pain for all people.