How will the BRICS currency influence Bitcoin?

[franky1]

~
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.

you might want to do some research.. i can back up my stance..
i already told you to research the BIS to see the actual plans for BRICS ecomony..
i already told you to research the BRI to see the "silkroad" deals are not related to BRICS membership

once you can see they are separate deals with separate function, purpose, goals, financing, economics, etc.. it becomes clear

brics:
is a multi-CBDC connecting via a m-bridge of forex barter of each CBDC independently. with no middle/central reserve master currency (thus not yuanization)

BRI:
the media news of china demanding every country(100+) repay china in yuan. is not limited or related to the brics nations. if you research more you will see its to do with loans china did with many countries(over 100(thus not brics specific)) in regards to the trade deals of developing the "new silk road"(BRI) .. where china as a independent state financing the BRI(not brics). want their loans repaid in yuan for the separate BRI project(unrelated to brics)

it is funny to watch you say that if china are handing out yuan it must be BRICS.. but then say brics is not invented yet so yuan is brics equivalent.. as your bases to pretend that BRICS=YUAN (facepalm)

rather then realise the different economics and trade deals are at play for the different projects

the BRI is not limited to "brics" memebers. so not related to brics
 

[pooya87]

it is funny to watch you say that if china are handing out yuan it must be BRICS.. but then say brics is not invented yet so yuan is brics equivalent.. as your bases to pretend that BRICS=YUAN (facepalm)

rather then realise the different economics and trade deals are at play for the different projects

the BRI is not limited to "brics" memebers. so not related to brics

That's not what I said. Your are not wrong about other stuff either, you are just too focused on BRICS as a currency as opposed to seeing the bigger picture where BRICS is the up and coming economic bloc that China, as one of the biggest members, is trying to expand and strengthen by getting more members in. Part of it is de-Americanization and de-dollarization.

A lot of these countries do not have enough independence to make such a big decision, mostly because their money is tied up in some Western banks. Like the situation with African nations and France or Iraq and US! Giving them loans (financial aid) and other helps with building infrastructure, etc. gives them a little bit of that independence to make such decision like joining BRICS.
Besides some of those countries receiving loans from China don't make sense as part of B.R.I. like West African nations or a country like Pakistan that was left out of B.R.I. and yet receives the loans from China.

So I say again: it's not only about the Belt and Road thing.

[MFahad]

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.

they are not creating an alternative of bitcoin. they are creating an alternative of Euro and USD. I don't think they claimed anything like that. but by the look of that. it is more like a join currency of BRICs Like Euro.
Creating an alternative of Bitcoin is not a new thing. we alreadh have thousands of them. they are Called "Altcoin" if you don't know 

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.

how will the falling economy of big countries benefit small nations? I am not understanding what you are trying to say. I don't think falll of those countries would benefit small countries. there are a lot of countries who are dependent on the loans and financial help of these countries. if they fall then these countries will suffer too. and other countries will Indirectly be affected as well.

[WillyAp]

how will the falling economy of big countries benefit small nations? I am not understanding what you are trying to say. I don't think falll of those countries would benefit small countries. there are a lot of countries who are dependent on the loans and financial help of these countries. if they fall then these countries will suffer too. and other countries will Indirectly be affected as well.

Certainly it will not. You also can see why most people voicing their believes are not leaders of any kind. They just voice their opinion.

[CageMabok]

how will the falling economy of big countries benefit small nations? I am not understanding what you are trying to say. I don't think falll of those countries would benefit small countries. there are a lot of countries who are dependent on the loans and financial help of these countries. if they fall then these countries will suffer too. and other countries will Indirectly be affected as well.

This suffering only occurs and applies to small countries which very often depend on large countries before any collapse occurs. Because there are also small countries that do not depend on big countries in any way, so the fall that befell big countries will not have an effect on small countries that do not have loans and financial assistance from these countries.

Certainly it will not. You also can see why most people voicing their believes are not leaders of any kind. They just voice their opinion.

As long as the opinion is reasonable and has actually happened, I don't think it's a problem to express it because in any discussion very different opinions can emerge. However, in economic terms, especially in BRICS, of course there will be an effect caused by the increasing number of countries wanting to join BRICS, because this will also give rise to currency competitiveness in a quite subtle, but very definite way. So many countries are now starting to explore this so that they don't always depend on the US dollar.

[DrBeer]

~
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.

you might want to do some research.. i can back up my stance..
i already told you to research the BIS to see the actual plans for BRICS ecomony..
i already told you to research the BRI to see the "silkroad" deals are not related to BRICS membership

once you can see they are separate deals with separate function, purpose, goals, financing, economics, etc.. it becomes clear

brics:
is a multi-CBDC connecting via a m-bridge of forex barter of each CBDC independently. with no middle/central reserve master currency (thus not yuanization)

BRI:
the media news of china demanding every country(100+) repay china in yuan. is not limited or related to the brics nations. if you research more you will see its to do with loans china did with many countries(over 100(thus not brics specific)) in regards to the trade deals of developing the "new silk road"(BRI) .. where china as a independent state financing the BRI(not brics). want their loans repaid in yuan for the separate BRI project(unrelated to brics)

it is funny to watch you say that if china are handing out yuan it must be BRICS.. but then say brics is not invented yet so yuan is brics equivalent.. as your bases to pretend that BRICS=YUAN (facepalm)

rather then realise the different economics and trade deals are at play for the different projects

the BRI is not limited to "brics" memebers. so not related to brics
 

Everything you write is TRUTH, and a real situation. I'm not disputing that. The problem is you don't hear what I'm saying. I'm talking about a completely different process. The process that BRICS did not start, but the process that CHINA tried to start

Look at the information on foreign economic transactions among the BRICS members, for the first half of 2023. China has been extremely active in promoting the yuan as a substitute for dollars, primarily to rogue countries that have problems with the dollar. And China offered them - let's trade for Yuan. We pay for your goods in Yuan. And we supply you with those goods that you cannot buy for dollars due to restrictions, and you will buy them for yuan. Do you realize what this game leads to? China "drains" depreciated yuan, buys for them as many goods as it wants, which it can then re-export for dollars, for example. Also the countries caught on this hook, bind themselves to the Yuan, because buying for Yuan is not only an exchange of bills for goods, it is also a restructuring of the banking system ... Also, China has repeatedly proposed to use the Yuan as a currency for mutual settlements within BRICS. China has proposed, not BRICS, let me clarify again China's excuse was that it has "the most powerful economy". So there are no contradictions in our dialog, as we are talking about different events !


"BRI:
the media news of china demanding every country(100+) repay china in yuan. is not limited or related to the brics nations. if you research more you will see its to do with loans china did with many countries(over 100(thus not brics specific)) in regards to the trade deals of developing the "new silk road"(BRI) .. where china as a independent state financing the BRI(not brics). want their loans repaid in yuan for the separate BRI project(unrelated to brics)" - About China's loans, that's a separate topic I'll just leave one word and you'll understand exactly what it's about and what "Chinese loans" really are

[franky1]

Look at the information on foreign economic transactions among the BRICS members, for the first half of 2023. China has been extremely active in promoting the yuan as a substitute for dollars, primarily to rogue countries that have problems with the dollar. And China offered them - let's trade for Yuan. We pay for your goods in Yuan. And we supply you with those goods that you cannot buy for dollars due to restrictions, and you will buy them for yuan.
..
Also the countries caught on this hook, bind themselves to the Yuan, because buying for Yuan is not only an exchange of bills for goods, it is also a restructuring of the banking system ... Also, China has repeatedly proposed to use the Yuan as a currency for mutual settlements within BRICS. China has proposed, not BRICS, let me clarify again China's excuse was that it has "the most powerful economy". So there are no contradictions in our dialog, as we are talking about different events !

this is where you are getting confused

this topic is about brics..
this topic is about the layout of brics economy
you can research it. the BIS(bank of international settlements) is heavily involved in it

china is not proposing a yuanisation of BRICS as a master single reserve currency.

..
side projects/individual contracts like BRI and trade deals with russia are loaned in yuan instead of dollar. but thats private contracts with china-russia

other side economics of russian sanction evasions where russia are using the yuan. much the same as paranoid bitcoiners use XMR. this does not mean XMR is going to replace bitcoin.. its just russia are using yuan as a stop-gap to do international trade outside the watchful gaze of the UN-US

the de-dollarisation is not the same as yuanisation
even china are not seeking to become a eastern world "one world currency" they have plans for individual CBDC per country with a barter/forex m-bridge in the middle

did you know that for decades western media were stupidly saying how chinas currency is all controlled via one app that has everyones life story and social media and medical history where everyone is rated and their accounts can be stopped for anti social behaviour by "tyrant china"

and that story is easily debunked by anyone going to a currency exchange kiosk and asking for yuan.. no registration or life story needed

..
im british and my ancestors as far back as i can research were. but even i can see passed the western media and look at real source info to realise china is not doing what western media portray

heck did you know there are more mexicans locked up in US detention camps than uyghurs in chinese camps
..
look passed the western media exaggerating the russia-china deals and private contracts of independent countries to some how be BRICS plans
and instead look at the actual BRICS plans

[Franctoshi]

What do you think will happen to Bitcoin, when these BRICS countries created their own digital currency? Will there be a significant drop in the demand for 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 see no competition coming here between the BRICS nations currency and Bitcoin. So far, the BRICS currency isn't going to be limited in its supply as Bitcoin, and besides, Bitcoin is a cryptocurrency and the BRICS currency is a flat currency. Furthermore, Bitcoin is an investment opportunity, a store of value and the only freedom form of money we have, Therefore when compared both currencies, Bitcoin is more secured because of its decentralized nature over the centralized nature of fiat currency.

[harapan]

   BRICS
What excites me more is the mentioning of bitcoin.The BRICS is trying to promote their stability and functionality amongst us,just so it can prove how capable and effective its adoption will create.BRICS will go through or face some challenge from the growing size to its influence with other countries.BRICS is a centralized currency,while bitcoin is a decentralized currency so if there should be any influence or support it is from bitcoin to BRICS.

Moreover,the BRICS nation is trying everything in their power to trend more or increase a phenomenal existence and it will take a very long time and effort to adapt to their strategies and economical system.
But BRICS can collaborate with bitcoin as they may improve or influence the global economic activities.

I think the only way is to work in hand with bitcoin to alleviate this fait controversies in countries,fighting money laundering issues and be more focused on finding a solution to execute a better plan to enhance financial technology.Thus,partnership and joint agreement can shape the future of the cryptocurrency industry and the BRICS countries.

[dansus021]

It is similar to the euro But I don't think it affects the Bitcoin or other cryptocurrency assets

Besides that BRIC has a lot of differences countries so I don't think they will move to the newly created fiat because different countries meaning different rule and different economic and they not at the same island as Europe did.

But I highly agree if BRICS member use their own currency to other bric member and this might hurt the us dollar

[Etranger]

Besides that BRIC has a lot of differences countries so I don't think they will move to the newly created fiat because different countries meaning different rule and different economic and they not at the same island as Europe did.

It's not so much a matter of common, same land as it is a matter of common values. The BRICS countries do not have a shared value field. They are united only by the desire to resist the global West, and the United States as a leader. They rallied around this idea, but overthrowing a leader requires a replacement, and these countries cannot agree among themselves which of them will become the new leader. Therefore, the basis for their union is shaky.

[franky1]

Besides that BRIC has a lot of differences countries so I don't think they will move to the newly created fiat because different countries meaning different rule and different economic and they not at the same island as Europe did.

It's not so much a matter of common, same land as it is a matter of common values. The BRICS countries do not have a shared value field. They are united only by the desire to resist the global West, and the United States as a leader. They rallied around this idea, but overthrowing a leader requires a replacement, and these countries cannot agree among themselves which of them will become the new leader. Therefore, the basis for their union is shaky.

its a union not a leadership
each country has its own cbdc

[bbigtart]

I see no competition coming here between the BRICS nations currency and Bitcoin. So far, the BRICS currency isn't going to be limited in its supply as Bitcoin, and besides, Bitcoin is a cryptocurrency and the BRICS currency is a flat currency. Furthermore, Bitcoin is an investment opportunity, a store of value and the only freedom form of money we have, Therefore when compared both currencies, Bitcoin is more secured because of its decentralized nature over the centralized nature of fiat currency.

Yes, exactly. I don't think we need to think too much that the presence of BRICS will have an impact on Bitcoin, some even say it will kill Bitcoin. Even though we all know the characters of the two are different. For example, as you said, the supply of Bitcoin is limited, while BRICS does not exist, in fact in the future it will be like the dollar currency, because the presence of BRICS also wants to weaken the dollar, not bitcoin.

Given the current state of the dollar, politics, inflation, etc. BRISC will also be like that in the future. So the best strategy to build wealth while protecting against losses is Investing in Bitcoin and keeping a small amount of fiat money will be more profitable in the future.

[Etranger]

Besides that BRIC has a lot of differences countries so I don't think they will move to the newly created fiat because different countries meaning different rule and different economic and they not at the same island as Europe did.

It's not so much a matter of common, same land as it is a matter of common values. The BRICS countries do not have a shared value field. They are united only by the desire to resist the global West, and the United States as a leader. They rallied around this idea, but overthrowing a leader requires a replacement, and these countries cannot agree among themselves which of them will become the new leader. Therefore, the basis for their union is shaky.

its a union not a leadership
each country has its own cbdc

Maybe it is a union right now (I doubt that, but let's suppose). It can be a union until their goal is reached. Which is to overthrow the USA from the leader position. But after that (if it even possible for them to do, of course) they will find themselves in a situation where they will have to decide, who exactly will replace the USA as a leader. And it makes all the question to be about leadership.

[franky1]

Besides that BRIC has a lot of differences countries so I don't think they will move to the newly created fiat because different countries meaning different rule and different economic and they not at the same island as Europe did.

It's not so much a matter of common, same land as it is a matter of common values. The BRICS countries do not have a shared value field. They are united only by the desire to resist the global West, and the United States as a leader. They rallied around this idea, but overthrowing a leader requires a replacement, and these countries cannot agree among themselves which of them will become the new leader. Therefore, the basis for their union is shaky.

its a union not a leadership
each country has its own cbdc

Maybe it is a union right now (I doubt that, but let's suppose). It can be a union until their goal is reached. Which is to overthrow the USA from the leader position. But after that (if it even possible for them to do, of course) they will find themselves in a situation where they will have to decide, who exactly will replace the USA as a leader. And it makes all the question to be about leadership.

de-dollarisation does not = yuanization

imagine this
replacing IMF denominated in $$, for a new BIS structure of settlements in dozens of CBDC
instead of everyone moving funds into USD bank accounts at IMF
brics countries will use a m-bridge(forex esq) where there will be dozens of reserves of different currency

[Etranger]

Besides that BRIC has a lot of differences countries so I don't think they will move to the newly created fiat because different countries meaning different rule and different economic and they not at the same island as Europe did.

It's not so much a matter of common, same land as it is a matter of common values. The BRICS countries do not have a shared value field. They are united only by the desire to resist the global West, and the United States as a leader. They rallied around this idea, but overthrowing a leader requires a replacement, and these countries cannot agree among themselves which of them will become the new leader. Therefore, the basis for their union is shaky.

its a union not a leadership
each country has its own cbdc

Maybe it is a union right now (I doubt that, but let's suppose). It can be a union until their goal is reached. Which is to overthrow the USA from the leader position. But after that (if it even possible for them to do, of course) they will find themselves in a situation where they will have to decide, who exactly will replace the USA as a leader. And it makes all the question to be about leadership.

de-dollarisation does not = yuanization

imagine this
replacing IMF denominated in $$, for a new BIS structure of settlements in dozens of CBDC
instead of everyone moving funds into USD bank accounts at IMF
brics countries will use a m-bridge(forex esq) where there will be dozens of reserves of different currency

I know that de-dollarisation does not = yuanization. But it doesn't mean that BRICS countries don't make efforts to change the balance of power. And also what I meant was that not every country in the BRICS structure believe that it is China that has to become this new leader instead of the US. They don't have agreement within themselves, and that is what makes them unstable.

[WillyAp]

The biggest error the BRIC countries commit is to believe that by leaving the $ they will be free.
Dependencies is what the global econnomy is about, one dedends on the other. 

[franky1]

I know that de-dollarisation does not = yuanization. But it doesn't mean that BRICS countries don't make efforts to change the balance of power. And also what I meant was that not every country in the BRICS structure believe that it is China that has to become this new leader instead of the US. They don't have agreement within themselves, and that is what makes them unstable.

there is no single country becoming leader...
it is like instead of being run by an empire. they are choosing to become a commonwealth

[Etranger]

I know that de-dollarisation does not = yuanization. But it doesn't mean that BRICS countries don't make efforts to change the balance of power. And also what I meant was that not every country in the BRICS structure believe that it is China that has to become this new leader instead of the US. They don't have agreement within themselves, and that is what makes them unstable.

there is no single country becoming leader...
it is like instead of being run by an empire. they are choosing to become a commonwealth

Yeah, sure, autocratic states like russia and China are choosing to become a commonwealth. That is ridiculous. All of their policy is build around the idea of opposition to the Western world. Both in terms of values, religiously and traditionally, as well as military and economically. Moreover, they don't have an agreement about those issues within themselves as well. And the only thing that joins those countries is the above mentioned opposition to the Global West.

[arimamib]

I know that de-dollarisation does not = yuanization. But it doesn't mean that BRICS countries don't make efforts to change the balance of power. And also what I meant was that not every country in the BRICS structure believe that it is China that has to become this new leader instead of the US. They don't have agreement within themselves, and that is what makes them unstable.

there is no single country becoming leader...
it is like instead of being run by an empire. they are choosing to become a commonwealth

Yeah, sure, autocratic states like russia and China are choosing to become a commonwealth. That is ridiculous. All of their policy is build around the idea of opposition to the Western world. Both in terms of values, religiously and traditionally, as well as military and economically. Moreover, they don't have an agreement about those issues within themselves as well. And the only thing that joins those countries is the above mentioned opposition to the Global West.

It may seem counterintuitive for autocratic states like Russia and China to form a commonwealth. These states, despite their political differences, recognize the benefits of economic interdependence. By forming a commonwealth, they may aim to create a more stable economic bloc that can counterbalance Western dominance. They may view the formation of a commonwealth as a response to geopolitical realities.

They might believe that aligning themselves with like-minded nations can enhance their geopolitical influence and act as a counterforce against perceived Western hegemony. In this view, the commonwealth could be a strategic maneuver to reshape global power dynamics. They may believe they can better address shared security challenges, even if they disagree on other issues.

Autocratic states might argue that a commonwealth provides a platform for preserving and promoting their unique cultural identities in the face of what they perceive as Western cultural imperialism. Critics may still assert that the primary motive behind such collaborations is opposition to the Western world, but proponents might argue that there are additional, pragmatic reasons for forming a commonwealth.