Bitcoin Forum

Hi all

With brexit looking to be a complete failure and no deal so the UK go crashing out of the EU, will that affect Cryptocurrency?

Do you think the value of Crypto will go up or down?

Thanks

There is absolutely no correlation between Britain exiting the European Union and our very own cryptocurrency world,as its definitely not going to affect prices nor value whatsoever

If you really wanna discuss/create a topic regarding Britains exit of the European Union,ill advice you make that thread in politics and society as that's where it's best suited https://bitcointalk.org/index.php?board=34.0

But if you really feel it will,(Brexit affecting cryptocurrency)being an open forum that it is, you bring out your reasons and we'll be happy to discuss on it

Thanks i'll move the thread to there. first my reasons

Venezuela has a failed currency and now they are relying on Crypto to rescue them, if sterling has an issue with Hyper Inflation such as venezuela, This would cause more people to trade in bitcoin in the uk, and further add to the banks woes, there are lots of countries nearing recession, Italy for a major one if they were to stop repaying the EU, as which has been proposed then they would fall into recession.

I see bitcoin as something people will go to if the don't trust the banks with their money and Brexit will be a test of this I feel

Coinbase Opens Office in Ireland Amid Brexit Uncertainty.
coinbase-expands-with-new-dublin-office (https://blog.coinbase.com/coinbase-expands-with-new-dublin-office-fc2e5ebcbeb6?gi=16d33b1e35cf)

I think this is not a good sign.

at the brexit

the $:£ wil change.. making things more expensive to import..  but.. thats the narrowminded side they want people to be afraid of
the flip side expensive to import=cheaper to export

take these examples instead of £1=$1.60 (like a few years back) becomes £1:$1
so buying a $160 item a few years ago would have cost £100
now a $160 item will cost £160

that is actually good. because we brits stop buying other peoples stuff giving them money. and we start to make our own stuff again
(reboot the industrial age of britain)

also
america wanting to buy £100 of something couple years ago would have cost them $160.
now a £100 will cost them $100

so now they will happily buy more from the uk because its cheaper.
(another reason to reboot british industry)

we now start receiving more currency flow into the UK and less currency flow leaving..

and ofcourse the main thing. instead of bitcoin being ~£4900.. as the forex changes occur that turns btc into £6400

This won't work,because Trump will change the US import tarrifs over goods manifactured in the UK. ;D
The Brexit thing is not a big deal.I don't know why people continue to focus on it.England isn't the most important country for the crypto world,I don't think it will ever become important.

After suddenly receiving the announcement of the farewell of the UK from the European Union EU, the currencies of the countries have a tendency to develop negatively. In that, the digital currency is also affected equally. But what if the world currency was still stunned by the decision from the British parliament, Bitcoin has grown a spectacular parallel to the gold price and US Treasury bills.

Well, it might have an impact on global markets and some of the impact might reach crypto. But very short term and should bounce back very quickly.
Brexit will achive a deal however. It must. Their democracy voted for a Brexit. Very stupid imo, but that is the point sometimes of democracy; being stupid.

Political instability and bad decisions being made by politicians, will always benefit Bitcoin. We saw what happened with Zimbabwe and Venezuela, when governments makes bad decisions. <People tend to hedge their potential losses in safe havens like Bitcoin, to protect their wealth>

Brexit is just another "event" or decision that would cause uncertainty and economic instability and as a result, investment capital will flow into safe havens like Bitcoin.  ;)

Doubt it...Coinbase is already opening a Dublin office, and other significant cryptocurrency companies will adapt.

I'm leaning towards crypto gaining because of Brexit, for the simply reason that people will likely go to Bitcoin to protect their assets in case GBP crashes. Although there are lots of main driver in the price of bitcoin, I think some political movements around the world really affected the price. If someone can plot a graph and see the correlation, regarding EU's referendum in the UK (if I'm not mistaken around June?)as to the price of Bitcoin then perhaps we might see if there's some sense in our theory.

I'm not sure if it will have consequences and influence on the global cryptocurrency market, but this will certainly affect the British blockchain start-ups. Brexit is an obstacle in the short term, as it`ll shake the well-established system. Companies will face a serious loss of market access. However, these cons can be turned into pros. The collapse of the old system can become a fertile ground for the construction of a new one. The UK will have the opportunity to develop a regulatory framework that is much more favorable for financial companies, and make the best use of the blockchain.

No..   Not unless Michel Barnier puts a boarder across your blockchains..

I don't think that's what they're doing right now. the only thing that it will affect is that the payment cryptocurrency will become more popular

I do not think it will significantly influence blockchain but Brexit definatly will influence GBP/EUR

This right here, we're going to see some sort of movement in the price of bitcoin but it's going to have nothing to do with anything that's going on with Brexit. People don't understand that there is no evidence as of right now showing any correlation between the price of bitcoin and the price of the stock market, or anything along those lines.

So no, it will not.