30 sats \ 2 replies \ @2big2fail 24 Jul 2022 \ on: Russia And China Officially Announce A "New Global Reserve Currency" bitcoin
also global reserve currencies are adopted in a voluntary manner. announcing "a hope and dream" is one thing but getting adoption is completely different.
Just look at the SDR https://www.investopedia.com/terms/s/sdr.asp and the Bancor idea https://en.m.wikipedia.org/wiki/Bancor both with decent support yet zero real world use
write
preview
0 sats \ 1 reply \ @cryptocoin OP 24 Jul 2022
global reserve currencies are adopted in a voluntary manner
Tell that to Gadhafi! Oh wait ...
Anyway, there's likely going to be a variety of changes occurring all at once. This BRICS basket (or maybe it is just a RIC basket) doesn't even need to be adopted outside of the small set of countries participating for them to be displace the use of the dollar for cross-border payments. Bitcoin may even play a part in that (as the method to swap between the local currency and the currency basket), who knows.
reply
20 sats \ 0 replies \ @2big2fail 24 Jul 2022
agree.. but regional trade won't make it a reserve currency
reply