Will growth of BRICS affect your stacking strategy? \ stacker news ~bitcoin

Will growth of BRICS affect your stacking strategy?

1383 sats \ 41 comments \ @shadowymartian 26 Aug 2023 bitcoin

91 sats \ 0 replies \ @carlosfandango 26 Aug 2023

Too early to tell. Ultimately all roads lead to Bitcoin. Even with a detour to the middle-east via China. With a stopover in Brazil.

111 sats \ 7 replies \ @sudonaka 27 Aug 2023

The shift to multipolar order is a necessary step on the way towards decentralization of the state

We have been living under the US empire and its time is coming to an end.

I pray to God the transition is peaceful

0 sats \ 6 replies \ @nemo 27 Aug 2023

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31 sats \ 5 replies \ @sudonaka 27 Aug 2023

First people who come to mind are the government employees and financial advisors along with their banker masters

0 sats \ 4 replies \ @nemo 27 Aug 2023

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21 sats \ 3 replies \ @sudonaka 27 Aug 2023

I don’t think you understand how much more value to society it is to show up to a 9-5 and put in maybe 2-3 hours of honest work- Vs ACTIVELY STEALING FROM AND ABUSING OTHER PEOPLE AND GETTING PAID MONEY DIRECTLY FROM A MONEY PRINTER THAT ALSO STEALS FROM AND ABUSES THOSE SAME PEOPLE AGAIN.

0 sats \ 2 replies \ @nemo 27 Aug 2023

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21 sats \ 1 reply \ @sudonaka 28 Aug 2023

I agree but also people will make their own decisions. The market will decide how much value you provide.

And for the criminal bankers and politicians and mad scientists- the value is negative

0 sats \ 0 replies \ @nemo 28 Aug 2023

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81 sats \ 0 replies \ @nemo 26 Aug 2023

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60 sats \ 0 replies \ @globalmerchantio 26 Aug 2023

From a possible, repeat possible manifestation it might open up peoples thinking to considering Bitcoin as an additional option for trading B2B goods between various countries.

Hopefully anything that makes people consider learning about Bitcoin is potentially a positive thing.

I import clothing primarily from India and every time I bring up Bitcoin with suppliers over there they seem to fear their Government being wishy washy about what's ok this month.

Eventually Bitcoin will be used both B2C and B2B over there.

62 sats \ 15 replies \ @mallardshead 26 Aug 2023

BRIC's is a joke. None of them like one other, none of them want a new currency other than China and Russia—both of whom have rising costs of capital and disastrous demographics. All the BRICs speak different languages and don't share a common culture. Tying your money to oil or fossil fuels only works if that energy is the fastest expanding type of energy, which it isn't anymore, and if they're dumb enough to peg their supposed new currency to gold, they better pray gold's market cap is never flipped by bitcoin. 4/5 current BRIC's leaders will be past the statistical age of death early next decade.

Russia will implode this decade, China will implode next decade, South Africa doesn't matter, the window is closing on India, and Brazil provides nothing of relevance but iron ore, which US allies make plenty of. The entire concept of globalization is based on the American security order, and no one-person government will survive this century.

64 sats \ 7 replies \ @Coinosphere 27 Aug 2023

Maybe the reason those 5 countries are such a joke is because they've been forced to acquire & trade with US dollars for all large international payments since the 1970s?

Now they no longer do so. Their own currencies will thrive more while the USD sinks.

Meanwhile, you forgot to mention the fate of the 5 New BRICS countries... Saudi Arabia, (who's no longer propping up the petrodollar) UAE, Egypt, Ethiopia & Iran.

0 sats \ 5 replies \ @mallardshead 27 Aug 2023

How exactly will their own currencies thrive? They won't. A global bond market for them isn't magically appearing. They'll all collapse along with their sovereign debt before the USD does. Go take a look at Forex markets and tell me what you see.

Saudi Arabia's currency is pegged to the USD at a fixed rate. They rely on US weapons sales. They rely on the US Navy to maintain their oil logistics and shipping lanes. Their Sovereign Wealth Fund doesn't invest in Chinese real estate. The petrodollar is coming to an end, and it has nothing to do with any of the stuff Twitter and podcast halfwits parrot; it has everything to do with the changing energy landscape, and velocity of green energy. Oil and fossil fuels have to be the fastest expanding energy forms in order for the petrodollar to work for your currency. Simply buying oil in a certain currency is meaningless. BRIC's are coming to that game far too late.

The 5 new BRIC's countries you mentioned who all dislike one another were "invited" to become BRICs nations.

BRIC's is a comedy I'm happy to short at every turn.

100 sats \ 2 replies \ @Coinosphere 28 Aug 2023

"How exactly will their own currencies thrive?"

-By no longer being raped constantly at the FOREX counter for every time they need to buy dollars. I didn't claim they'd rule, just do better. Hard to fail at that once you remove that constant fee from every large transaction.

"Saudi Arabia's currency is pegged to the USD at a fixed rate. "

That certainly can't last much longer... The USD is going down and they'll be going up.

"They rely on US weapons sales. They rely on the US Navy to maintain their oil logistics and shipping lanes."

Not anymore, hoss. Joe Biden pissed off the SA monarchy so badly that it's a wonder we aren't at war with them yet.

"it has everything to do with the changing energy landscape"

That too. But BRICS getting SA onboard was an immediate end to the Petrodollar. A true instant change we can't go back from.

"The 5 new BRIC's countries you mentioned who all dislike one another were "invited" to become BRICs nations."

Um, they all applied first, and these 'invitations' were the official response at a BRICS meeting. They are all officially BRICS members on Jan 1 of next year. Full members.

"BRIC's is a comedy I'm happy to short at every turn."

Times change. They now make up 52% of the world's population and have tons of other applicants, including Indonesia and a few other huge populations. They already make the G7 look small & one day they may grow more important than the UN.

0 sats \ 1 reply \ @mallardshead 29 Aug 2023

Not anymore, hoss. Joe Biden pissed off the SA monarchy so badly that it's a wonder we aren't at war with them yet.

LOL. The US has been SA's security guarantor since the 1930s. Currently, that means global shipping lanes, logistics, weapons sales, keeping Iran in check, etc. Their casual date with BRICS is about their fear of the US leaving the region as the petrodollar fades. They're a theocratic monarchy, surrounded by theocratic monarchies. What Biden says in public and does in private are two different things. He recently signed two massive arms deals to SA, angering his own Party, one of them for the latest generation Patriot Missiles. Saudi Arabia is running around Europe and the US offering tax-free jobs, golden visas, and home ownership. I was offered one as a database architect for a firm there. Follow the money, not the cheap Twitter political takes.

That certainly can't last much longer... The USD is going down and they'll be going up.

Do you even understand what you're saying here coinosphere? Will a global bond market magically spring up in SA, and their Riyal volume in Forex markets explode and form the quote price on what base currency? Their economy is based on oil, which is no longer the fastest expanding form of energy, and it has a variable price. They are already in danger of spending down their Sovereign Wealth Fund, and Vision 2030 must work. Do you know what UBI is? SA's been running massive UBI since 2017, called the Citizen's Account Program. They needed this to avoid the type of social unrest that ends monarchies, if you know what I mean.

That too. But BRICS getting SA onboard was an immediate end to the Petrodollar. A true instant change we can't go back from.

What? An immediate end? What podcaster is this desperate for listeners? There's always a trade leg in Forex involving the USD somewhere. But that's not the important thing, the velocity of the petrodollar's decline is based on the velocity of green energy's expansion. So don't get too excited, there's some time left.

Times change. They now make up 52% of the world's population and have tons of other applicants, including Indonesia and a few other huge populations. They already make the G7 look small & one day they may grow more important than the UN.

Population is irrelevant. Demographics are relevant. So is the cost of capital. So is skill. You're describing a liability trying to make it sound like an asset in a future automated world. BRICS all hate each other and come to every conference with a list of grievances. Adding members to BRICS is the fastest way to ensure they accomplish nothing. Brazil has never traded with another BRICS nation besides exports to China. Their GDP has been falling steadily since 2011. South Africa is an irrelevant player with big social problems, and they don't need BRICS, they need water. China has a rapidly rising cost of capital and disastrous demographics. Russia's demographics and cost of capital were terrible before the war. What the BRICS need is a complete overhaul of their country's leadership, especially the closed-source one-person BRICS governments.

If BRICS were software, we'd call it vaporware. I'm glad you're on Stacker News so I can set you right coinosphere.

0 sats \ 0 replies \ @Coinosphere 30 Aug 2023

I'll grant you it's mixed news, but the petrodollar was always a confidence game. Confidence was instantly lost when 1 of the 2 players went home.

As for population being a liability, don't overlook the simple GDPs. They keep stacking more and more GDP as new member states join, while the west loses it. France somehow left the west already and half of south america is now BRICS.

0 sats \ 1 reply \ @sudonaka 28 Aug 2023

G7: 10% global population and falling

Brics: 40% global pop and rising

0 sats \ 0 replies \ @mallardshead 28 Aug 2023

Sounds like a liability in an automated future, with a whole lot of people to sell shit to.

0 sats \ 0 replies \ @wacher 27 Aug 2023

Try to think, if you have dollars on hand but are restricted from buying them, why would you use dollars. Financial sanctions are something that hurts both parties.

0 sats \ 4 replies \ @snakedye 27 Aug 2023

The entire concept of globalization is based on the American security order

What? Not only is this semantically false, there's no proof that a globalized economy HAS to be contingent on "the American security order". Maybe globalization as we know it but the claim you are making is utter bs.

0 sats \ 3 replies \ @mallardshead 27 Aug 2023

Remind me what the global reserve currency is again? And is that Jamaica's navy I see patrolling the world's oceans? What role did the US play in establishing GATT, the UN, IMF, World Bank, and WTO? Tell me you don't understand geopolitics without telling me you don't understand geopolitics. Bretton Woods isn't a place little red riding hood got lost.

0 sats \ 2 replies \ @snakedye 28 Aug 2023

None of what you said is proof that globalization is ONLY possible through "the American security order" lol. You're only saying that globalization AS WE KNOW IT is contingent upon it. Sure but I already said that lol. Tell me you don't understand English without telling me you don't understand English.

0 sats \ 1 reply \ @mallardshead 28 Aug 2023

Thank you mister LOL, can you please walk us through your conceptual version of globalization that's never been put into praxis based upon YouTube and TikTok video information you've thought hard about?

And "ONLY possible"? Huh? Nice straw man there.

0 sats \ 0 replies \ @snakedye 29 Aug 2023

And "ONLY possible"?

The entire concept of globalization is based on the American security order

Maybe English isn't your first language but when you claim that a concept is based on something you are affirming that conceptually, that something is a NECESSARY condition. So yes, ONLY.

can you please walk us through your conceptual version of globalization that's never been put into praxis

Why would you make a conceptual claim only to act like conceptualization doesn't matter?

You digged this hole for yourself.

0 sats \ 0 replies \ @premitive1 27 Aug 2023

the current brazilian president very much wants to be part of a changing world economy. if something somehow happens while he's still president, that could cause a general shift in the national perspective. maybe it could get the country to drop some of the tariffs and encourage more international trade?

0 sats \ 0 replies \ @danieltapa 27 Aug 2023

brazilian here and i agree.. this BRIC's narrative gaining spotlight is just a symptom of the main US order weakening

60 sats \ 0 replies \ @2bithits 27 Aug 2023

Not in the short term

I think it will fall apart. They don't REALLY trust each other

34 sats \ 0 replies \ @ssaurel 27 Aug 2023

Bitcoin protects us from all future configurations in reality. Whether the world is dominated by the West with America at its head, or by the BRICS with China at its head, Bitcoin will remain the currency of the people that will allow us to protect ourselves.

I watch this out of interest, but it does not change my beliefs about the absolute necessity of the success of the Bitcoin revolution for the good of the many.

10 sats \ 0 replies \ @premitive1 26 Aug 2023

only if it actually grows. Iran and Saud cooperating? I'll believe it when I see it.

21 sats \ 0 replies \ @chaoticalHeavy 26 Aug 2023

21 sats \ 0 replies \ @designsats 27 Aug 2023

yes Im planning to dump some BTC for brickbucks....:D :D :D

1 sat \ 0 replies \ @JesseJames 27 Aug 2023

Doubt it, if fundamentals don't change then BRICS is no event except power struggle for global dominance in trade. Normal economies need sound money and neither US or BRICS have one. Keep calm and keep stacking...

0 sats \ 0 replies \ @TheBTCManual 27 Aug 2023

Even if they do manage to create a trading block between countries, launch a settlement reserve currency to store excess income in, instead of dumping into the various local currency bond and stock markets, and help balance of payments, it's not going to do much for the average citizens spending power, they are still stuck with local currency which has already established a trajectory of inflation and thats not going to change, yes this BRICS reserve currency can help in certain ways to reduce debasement pace but not the trend

This is just a federated fiat shitcoin

So no, for me it changes nothing, stacking harder than ever

0 sats \ 0 replies \ @btcs 27 Aug 2023

BRICS will have a gold-backed currency Gold has a very high inflation of about 2% of the annual new gold mined by miners

The rejection of the dollar around the world will lead to hyperinflation in the US There are a lot of dollars in the world

0 sats \ 0 replies \ @NotOdell 27 Aug 2023

Yes. They will release their own currency, rug each other, people will look to bitcoin. As Matt Odell says: "Bitcoin adoption is a series of ever increasing rugs" or something like that.

0 sats \ 0 replies \ @wikparclones 27 Aug 2023

Mmmm 1 sats = 1 sats nothing change.

0 sats \ 0 replies \ @Coinosphere 27 Aug 2023

I don't see why.

I'm very glad to see the BRICS countries eat away at the dollar, of course, but no one BRICS currency is on the horizon and I wouldn't trade real sats for it even if it did exist.