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Could you please expand on your concerns, namely in the context of the proposed implementation of BRICS currency as a cryptocurrency?

shmerl 2y ago
BRICS exists as an attempt by Putin and Co. to reduce dependency on global economy. Given Putin is waging what's basically a WW III, BRICS is simply his tool of war (not really effective and DOA in practice, but still). So as above, any kind of currency plans for it should be seen through that context.
- iluxonchik 2y ago
  While I appreciate your reply, it feels that you expressing your subjective view on geopolitics, rather than expanding on the shortcomings of the BRICS digital currency, when implemented as a cryptocurrency on a public blockchain as described in the article. Perhaps you could elaborate on how precisely you see proposed architecture as a misfit, and explain how existing solutions are better? Thanks!
  - shmerl 2y ago
    You can't separate one from another. It's like imagine Nazi Germany would have invented "currency for the Axis". That's about it. What's the point in debating its technical merits, except for analysis of how it's used as a weapon.
    - iluxonchik 2y ago
      Of how it's used as a weapon?
      - shmerl 2y ago
        I already explained it above, but to summarize: depending on global economy undermines Putin's ability to wage war. Having self sufficient economy enables his war. He can't be 100% self sufficient in practice, so he wants to widen it to his current and potential allies economically (that's the whole idea of BRICS in the nutshell). Having an effective currency therefore would be Putin's tool of war, so a weapon in practice.
        iluxonchik 2y ago
        I understand that you are expressing your political views, however you still fail to explain how exactly the BRICS digital currency as a cryptocurrency on a public blockchain supports the claims that you've made. My goal is not to argue. I'm genuinely interested in the feedback. We are building the next era of finance, one that is more transparent, decentralized, trustless and inclusive. By employing mutual cooperation and iteration, we can move towards a better future more swiftly and efficiently. How about we start with decentralization? Pick your FIAT currency of choice, and tell how many entities have the absolute control over that currency's supply. Now let's compare it to the BRICS digital currency, as presented in the article. Big difference, right? :)
        shmerl 2y ago
        That's not political views. That's just what it is. If you want to engage in demagoguery about technicalities of the currency, overlooking the actual goal behind it (assisting Putin's war) especially with masking it under mutual cooperation ideas - it's a waste of time since you simply sound like Putin's troll who poses as an intellectual.
  - 79a6ed87 2y ago
    Geopolitics is obviously involved. And since trust is the most important aspect when it comes to saving in a particular asset, I wouldn’t save my money in something issued by either Russia or China. BRICS even invited my country, Argentina, to join. I wouldn’t save in a currency made by them until they get it together and keep it reasonably managed for a couple of decades. That’s how little trust they deserve from me at this moment when it comes to investing.

shmerl 2y ago

BRICS exists as an attempt by Putin and Co. to reduce dependency on global economy. Given Putin is waging what's basically a WW III, BRICS is simply his tool of war (not really effective and DOA in practice, but still). So as above, any kind of currency plans for it should be seen through that context.

iluxonchik 2y ago
While I appreciate your reply, it feels that you expressing your subjective view on geopolitics, rather than expanding on the shortcomings of the BRICS digital currency, when implemented as a cryptocurrency on a public blockchain as described in the article. Perhaps you could elaborate on how precisely you see proposed architecture as a misfit, and explain how existing solutions are better? Thanks!
- shmerl 2y ago
  You can't separate one from another. It's like imagine Nazi Germany would have invented "currency for the Axis". That's about it. What's the point in debating its technical merits, except for analysis of how it's used as a weapon.
  - iluxonchik 2y ago
    Of how it's used as a weapon?
    - shmerl 2y ago
      I already explained it above, but to summarize: depending on global economy undermines Putin's ability to wage war. Having self sufficient economy enables his war. He can't be 100% self sufficient in practice, so he wants to widen it to his current and potential allies economically (that's the whole idea of BRICS in the nutshell). Having an effective currency therefore would be Putin's tool of war, so a weapon in practice.
      - iluxonchik 2y ago
        I understand that you are expressing your political views, however you still fail to explain how exactly the BRICS digital currency as a cryptocurrency on a public blockchain supports the claims that you've made. My goal is not to argue. I'm genuinely interested in the feedback. We are building the next era of finance, one that is more transparent, decentralized, trustless and inclusive. By employing mutual cooperation and iteration, we can move towards a better future more swiftly and efficiently. How about we start with decentralization? Pick your FIAT currency of choice, and tell how many entities have the absolute control over that currency's supply. Now let's compare it to the BRICS digital currency, as presented in the article. Big difference, right? :)
        shmerl 2y ago
        That's not political views. That's just what it is. If you want to engage in demagoguery about technicalities of the currency, overlooking the actual goal behind it (assisting Putin's war) especially with masking it under mutual cooperation ideas - it's a waste of time since you simply sound like Putin's troll who poses as an intellectual.
- 79a6ed87 2y ago
  Geopolitics is obviously involved. And since trust is the most important aspect when it comes to saving in a particular asset, I wouldn’t save my money in something issued by either Russia or China. BRICS even invited my country, Argentina, to join. I wouldn’t save in a currency made by them until they get it together and keep it reasonably managed for a couple of decades. That’s how little trust they deserve from me at this moment when it comes to investing.