Brexit and Bitcoin

[jack1111]

when I opened the forum today , I expected to watch a lot of threads talking about ( Brexit ) , and how it will affect Bitcoin , but I didn't watch .
this event has great importance because it affect the financial markets in all the world , the Bitcoin price has increased about 7 per cent after the UK public voted to leave the European Union , and 100 Million Dollar traded in the past 24 hours , on the other hands , the Pound has fallen against the Dollar , while the gold has increased about 4 % .
the Expectations indicate that Bitcoin price will hit 800 and 900 $ after this event , and maybe reach 1000$ .
if you want to know more about this event and how it will affect Bitcoin you can read those articles :
https://www.cryptocoinsnews.com/bitcoin-price-surges-beyond-675-amid-brexit-vote/
http://www.cnbc.com/2016/06/24/bitcoin-spikes-as-yuan-hits-five-and-a-half-year-low-on-brexit.html

[1715414966]

1715414966

[Snorek]

I have no idea if this will be long lasting change and overall change of course for global investors, for now they want to see what cryptocurrency has to offer as investing asset.
Or it is only short and temporary panic; investors are worried that 'standard' markets could potentially enter post-Brexit crisis - therefore it is safe to invest in BTC to diminish loses.

Time will tell.

[Decoded]

Brexit is bad for the global economy. The pound will go down, due to less or no support from the EU, though it may climb it's way back up. Global politics is a fucking joke, if you ask me.

I'd say bitcoin will go up.

[partysaurus]

Brexit is bad for the global economy. The pound will go down, due to less or no support from the EU, though it may climb it's way back up. Global politics is a fucking joke, if you ask me.

I'd say bitcoin will go up.

pound going down and bitcoin going up. like that bitcoin is the currency that goes up when the fiat currency fall

[2fireddog]

THe price is what investors are willing to pay, who are most of times speculating in the market and earn money. Some event may be the trigger to make the price spike or plummet which depends on how they react to the news and markets.

[talkbitcoin]

there has been some talk about Brexit on speculation and economy section which is more related to these kinds of stuff.

but anyways i agree that it has a great impact on the financial world and one of the biggest effects have been seen in bitcoin today with the $110 rise from yesterday.

[IconFirm]

I see it as a win for Democracy - congrats to the Brits.

Nobody in Brussels was elected by anyone, they were placed there by Banks & Corporations who's only motive was profit & power. Greece, Spain & other counties in the EU have been milked & enslaved by Brussels to the extent that OAP's had to queue & beg for their pension money in order to buy food, mass unemployment & austerity are trademarks of countries run by Brussels - this is what happens when unelected people with conflicts of imterest are "placed" in a position of power.

As far as Bitcoin v fiat prices are concerned - who cares? They go up, they go down - nothing new there. I see Bitcoin (or digital currency) as a replacement for fiat, not a way to make more fiat. Only those after short term fiat profit are concerned about price, the Bitcoin idea is lost on them.

[a7mos]

The brexit has massive effects on the Pound so this may lead people to buy any assets like gold to save their savings from this fall. Maybe some of them will buy bitcoin

[7788bitcoin]

I was sitting in front of my PC watching the Brexit vote live coverage and BTC price at the same time. Bitcoin went slowly but steadily up until 660+ when Leave camp secured a 16.8 million votes.

I think the Chinese investors are still very caution especially no one has any idea what Brexit will bring to the world economy.

[helloeverybody]

I've said it before in other thread s,  the brexit i wouldn't think would have any effect on bitcoin,  or not from the uk side anyway.  Maybe coming out of the Europe will cause other country's to buy into bitcoin but i doubt it.  Theres still not enough adoption of bitcoin for people to even considor it.  The pound is the lowest its been since 1985 but it's still strong against most other currency's.

[poptok1]

I've said it before in other thread s,  the brexit i wouldn't think would have any effect on bitcoin,  or not from the uk side anyway.  Maybe coming out of the Europe will cause other country's to buy into bitcoin but i doubt it.  Theres still not enough adoption of bitcoin for people to even considor it.  The pound is the lowest its been since 1985 but it's still strong against most other currency's.

That's one aspect of it. You are right. There is more however, referendum may not be respected by the parliament. Basically the government can stick middle finger to voters
and say "NO" to exit. That happened few times, especially that the difference between nay/yay is just over 1%. So don't get to exited Brit-mates. All in the hands of the "chosen ones"...

[IconFirm]

The "chosen one" has announced his departure though.

And no, parliament can't say no.

Edit: The BBC is crying like a baby - too funny.

[mayax]

The "chosen one" has announced his departure though.

And no, parliament can't say no.

Edit: The BBC is crying like a baby - too funny.

well, all the big corporations,banks will leave London(UK) and they will move to other countries from EU. that means huge amounts of money will go out of UK. the taxes that these corporations are paying in UK, will no longer be paid, the impact for UK will be immense. how many people will lose their jobs? A LOT. Only a kid or an idiot would think that this is a good thing. So many families will be affected in UK.

I think Ireland(Dublin) is happy; most of these corporations will migrate to them.

[eternalgloom]

I see it as a win for Democracy - congrats to the Brits.

Nobody in Brussels was elected by anyone, they were placed there by Banks & Corporations who's only motive was profit & power. Greece, Spain & other counties in the EU have been milked & enslaved by Brussels to the extent that OAP's had to queue & beg for their pension money in order to buy food, mass unemployment & austerity are trademarks of countries run by Brussels - this is what happens when unelected people with conflicts of imterest are "placed" in a position of power.

As far as Bitcoin v fiat prices are concerned - who cares? They go up, they go down - nothing new there. I see Bitcoin (or digital currency) as a replacement for fiat, not a way to make more fiat. Only those after short term fiat profit are concerned about price, the Bitcoin idea is lost on them.

What are you talking about? The European parliament was elected democratically, you might want to read some more about that: https://en.wikipedia.org/wiki/European_Parliament

[DimensionZ]

Brexit is bad for the global economy. The pound will go down, due to less or no support from the EU, though it may climb it's way back up. Global politics is a fucking joke, if you ask me.

I'd say bitcoin will go up.

I was actually quite shocked by the voting results because I thought an Europe without borders was the main reason behind the creation of the European Union and this would have benefited all countries inside the zone economically and culturally and would have made travelling around the countries effortlessly but unfortunately the bad political decisions of the European countries recently really shook the integrity of the EU mainly the refugees problem and the terrorist attacks. I think the UK leaving the EU will be a major setback for everyone doing business in the EU on an international level. Sadly I think we will need now visas before we can enter the UK which is very inconvenient... I don't know if the Brits will start to buy Bitcoin now when the pound has been stable for so long but who knows we may see very interesting things happening this year.

[Robertqueen2]

The "chosen one" has announced his departure though.

And no, parliament can't say no.

Edit: The BBC is crying like a baby - too funny.

You are right , they can't say no , because they announced recently that they will respect what UK people decide , but this result wasn't expected for them , the result shocked them , as it shocked a lot of European , Germany ,France ....

[The Sceptical Chymist]

I despise politics and don't understand the issues here.  I get that it's big news, but markets tend to overreact to stuff like this all the time.  I'm actually surprised gold and silver haven't exploded.   But I love watching permabulls be wrong. 

Glad bitcoin is up, but I'm not sure how much brexit has to do with it.

[Red-Apple]

this has been a great 24 hour for me. price has been rising and i have just bought some yesterday when it was low so i am that much more happy.

i just hope this continues and the rise wouldn't be just temporary.

[franky1]

Brexit is bad for the global economy. The pound will go down, due to less or no support from the EU, though it may climb it's way back up. Global politics is a fucking joke, if you ask me.

I'd say bitcoin will go up.

I was actually quite shocked by the voting results because I thought an Europe without borders was the main reason behind the creation of the European Union and this would have benefited all countries inside the zone economically and culturally and would have made travelling around the countries effortlessly but unfortunately the bad political decisions of the European countries recently really shook the integrity of the EU mainly the refugees problem and the terrorist attacks. I think the UK leaving the EU will be a major setback for everyone doing business in the EU on an international level. Sadly I think we will need now visas before we can enter the UK which is very inconvenient... I don't know if the Brits will start to buy Bitcoin now when the pound has been stable for so long but who knows we may see very interesting things happening this year.

not quite
imagine yesterday. something costing £10 would have cost america $15
but this very morning. something costing £10 would have cost america $13.40 (gain for america, no loss to UK)
this means the UK still get their £10. and now america will want to buy more because its discount day. (UK gain as a side effect due to the 'bulk buy' mindset)
or flipping it the other way. the UK could charge £11(good for UK) and have america still paying $15 (no loss to US, gain for UK)


secondly the argument of "cheaper to make it in china" is getting less cheap. in the long run the imports into the UK will decline and the Exports will increase. which is good.

also imagine walmart wanted to invest $1.5billion yesterday to grow UK retail stores they would get £1bill to play with.. today if they invested $1.5billion, they would get £1.1bill to play with. which means that they can spend more in the UK and do more UK expansion..

[IconFirm]

I see it as a win for Democracy - congrats to the Brits.

Nobody in Brussels was elected by anyone, they were placed there by Banks & Corporations who's only motive was profit & power. Greece, Spain & other counties in the EU have been milked & enslaved by Brussels to the extent that OAP's had to queue & beg for their pension money in order to buy food, mass unemployment & austerity are trademarks of countries run by Brussels - this is what happens when unelected people with conflicts of imterest are "placed" in a position of power.

As far as Bitcoin v fiat prices are concerned - who cares? They go up, they go down - nothing new there. I see Bitcoin (or digital currency) as a replacement for fiat, not a way to make more fiat. Only those after short term fiat profit are concerned about price, the Bitcoin idea is lost on them.

What are you talking about? The European parliament was elected democratically, you might want to read some more about that: https://en.wikipedia.org/wiki/European_Parliament

Wikipedia....

MEP's in Strasborg are elected. They vote on proposals suggested/put forward by the unelected commitees in Brussels.

The only businesses that will leave the UK & "take their money with them" are the ones that have their accounts offshore & pay zero tax in the UK, thus they contribute nothing. The UK is the fifth largest economy in the world, it will not only survive, it will prosper.