It'll definitely fail. But wait until we see entire nations trying to shitcoin, it'll be hilarious. 

Exactly right. I can see this being tried at first but it's bound to fail.

siggy47

The author didn't describe any reason for a country to want to use this BRICS+ currency as for their reserves.

Besides Saudi Arabia, countries like Argentina, Iran, Egypt, and Turkey have all expressed interest in joining BRICS. And they’re also thinking of making it a gold-backed system which will make it tantamount to a new world reserve currency.

Which at least gives a scenario where reserves in BRICS+ could be more favorable than holding the dollar, but then Lyn Alden asks this question:

Imagine BRICS+ comes out with some sort of commodity-backed alternative reserve currency.

https://twitter.com/LynAldenContact/status/1583485848167010305

bitcoin

A New World Currency is shaping, and it isn't Bitcoin

The author didn't describe any reason for a country to want to use this BRICS+ currency as for their reserves.

There was this:

> Besides Saudi Arabia, countries like Argentina, Iran, Egypt, and Turkey have all expressed interest in joining BRICS. And they’re also thinking of making it a gold-backed system which will make it tantamount to a new world reserve currency.

Which at least gives a scenario where reserves in BRICS+ could be more favorable than holding the dollar, but then Lyn Alden asks this question:

> Imagine BRICS+ comes out with some sort of commodity-backed alternative reserve currency.
> 
> Would you trust their supply audits?

https://twitter.com/LynAldenContact/status/1583485848167010305 [[Nitter](https://nitter.it/LynAldenContact/status/1583485848167010305)]