Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
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I still have a small bit of my mind thinking that it will be a BRICS backed cryptocurrency backed by gold. Which is possible. Allowing large secured physical gold reserves, and countries with immutable claim and ownership of reserves. I don't think they'll ever have a "BRICS Dollar" that is an in use currency, they'll keep that the local country currencies. But it also wouldn't surprise me to see countries peg their currencies to the BRICS Reserve Cryptocoin.
Arden
Blackwing Lair Raider
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If I'm reading you right, you are thinking they might create a BRICS reserve cryptocoin and back it with gold, but maintain individual local country currencies?
Why bother with a BRICS crypto at all? If gold is ultimately the reserve and the local currencies remain in place, what purpose would the BRICS reserve coin even serve?
Flobee
Vyemm Raider
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Any 'crypto' that is backed by anything physical is no different than any other sovereign currency. It may run on digital rails, but you still have to trust the entity that is holding the backing asset when they say it is being held to whatever peg. A 
coin created by a nation state is still a coin
coin created by a nation state is still a coin- 1
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Talos
Silver Baronet of the Realm
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Blazin
Creative Title
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Tell him to put up his coin as collateral and start selling converts to buy more. This is the way
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Flobee
Vyemm Raider
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A quick look at the historical XRP chart would give one a good sense of how this likely plays out. Most will diamond hands to sub $0.50 I bet though. Ripple already 'unlocking' as much as they can to dump.
The narrative on XRP has always been one of the strangest to me. Even if Ripple did land a deal for a CBDC or whatever they're telling people, how is that going to be a positive for XRP price? Just an unregistered security for fraudsters. Maybe this time is different though!
The narrative on XRP has always been one of the strangest to me. Even if Ripple did land a deal for a CBDC or whatever they're telling people, how is that going to be a positive for XRP price? Just an unregistered security for fraudsters. Maybe this time is different though!
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Tmac
Adventurer
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Asshat Foler
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