|
Title: [2016-06-24] Brexit: Bitcoin surges in wake of Out vote Post by: shane on June 24, 2016, 08:34:17 AM One of the few winners from Britain's shock decision to exit the European Union on Friday was the virtual currency bitcoin, which rose more than 7 per cent as investors flocked to what they perceived a safe haven asset.
Bitcoin jumped above $US670 after the vote, according to data from CoinDesk, prompting analysts to label it "digital gold" – a reference to gold's historic status as a haven from financial turmoil. Over the past month, the virtual currency has been buffeted by changing sentiment around the vote, rising more than 70 per cent as the Brexit camp gained momentum before being sold off in recent days when it appeared Britons would choose to stay in the European Union. http://www.afr.com/news/politics/world/brexit-bitcoin-surges-in-wake-of-out-vote-20160624-gprchx Title: Re: [2016-06-24] Brexit: Bitcoin surges in wake of Out vote Post by: Kprawn on June 24, 2016, 05:35:51 PM If people see Bitcoin as a safe haven and digital gold, we must get some congratulations.... We are after all not that bad. Just ask any economist what "currency" has performed the best over the last
couple of years and they would agree that it was supposed to be Bitcoin. {Many people do not acknowledge Bitcoin as a currency, but rather a commodity or a store of value} We cannot ignore the fact that the long term price of Bitcoin is going upwards steadily, even though we might have some short term volatility. ::) Title: Re: [2016-06-24] Brexit: Bitcoin surges in wake of Out vote Post by: aso118 on June 25, 2016, 11:22:50 AM Just ask any economist what "currency" has performed the best over the last couple of years and they would agree that it was supposed to be Bitcoin. {Many people do not acknowledge Bitcoin as a currency, but rather a commodity or a store of value} The time period is very convenient. If you look at the last 2 calendar years, 2015 was good for bitcoin. 2014 was definitely not. No economist is going to place much importance on such a small timescale. Title: Re: [2016-06-24] Brexit: Bitcoin surges in wake of Out vote Post by: Snorek on June 25, 2016, 12:40:35 PM Bitcoin is not as safe and stable as many 'traditional' people raised in rather calm FIAT world (where mighty central bank step in and fix situation every time when there is something wrong with your local currency)
would like it to be. Lack of central bitcoin price regulation is major deterrent for some people - and always will be. Brexit is only a small and insignificant event for global financial markets. Slight panic caused by it will soon be gone. Title: Re: [2016-06-24] Brexit: Bitcoin surges in wake of Out vote Post by: panju1 on June 26, 2016, 09:18:17 AM Bitcoin is not as safe and stable as many 'traditional' people raised in rather calm FIAT world (where mighty central bank step in and fix situation every time when there is something wrong with your local currency) would like it to be. Lack of central bitcoin price regulation is major deterrent for some people - and always will be. Brexit is only a small and insignificant event for global financial markets. Slight panic caused by it will soon be gone. Yup, even with Brexit, the movement in pound was ~10%. That kind of depreciation is normal in the Bitcoin world. :) |