the_poet (OP)
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The Sceptical Chymist
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June 25, 2016, 06:29:22 PM |
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Awesome, thanks for posting that article. It's good to see bitcoin in the mainstream media, and not in stories about drugs or porn or all that other stuff that bitcoin gets tarnished with.
Bitcoin is global, but I have a hard time seeing it as a currency. A store of value, yes, but as a means to buy things, it hasn't established itself as that with great success. Still a good article. I kind of figured it'd be in the news once the price started booming.
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yenxz
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June 25, 2016, 07:18:58 PM |
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Awesome, thanks for posting that article. It's good to see bitcoin in the mainstream media, and not in stories about drugs or porn or all that other stuff that bitcoin gets tarnished with.
Bitcoin is global, but I have a hard time seeing it as a currency. A store of value, yes, but as a means to buy things, it hasn't established itself as that with great success. Still a good article. I kind of figured it'd be in the news once the price started booming.
great,have read two good news in a row,first we glad to see mainstream media like fortune pick about bitcoin news,andits make bitcoin will more popular,and second if brexit really happen,so i also think investor will more interesting into bitcoin,lets see. |
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smho_16
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June 25, 2016, 07:38:28 PM |
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Nothing to turns our head on and being more enthusiast about it than we should. Of course its a great thing popular media talking about bitcoin, but honestly Brexit got nothing to do with bitcoin, and investors if they decide to turn to bitcoin which I am confident they will in the long run, will decide so because of the potential they see in it. Still a good publicity like this doesn't hurt at all  . |
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amacar2
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June 25, 2016, 08:04:12 PM |
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It is good to see bitcoin getting space in mainstream media however brexit haven't done significant effect on bitcoin price as we all have expected. Rather it have changed gold price 10% and more within few hour after result get out.
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Lauda
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June 25, 2016, 09:32:47 PM |
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I would tend to say that this is a premature statement. Just because the price reacted positively that does not mean that a lot of new investors rushed into Bitcoin within a few hours (wouldn't 'rushing' into an investment be irrational?). Anyhow, we've yet to see the full effect of this. It does take some time for the money to move and judging by the Speculation section people are divided when it comes to the effects of Brexit. Some claim that it has no effect, while others say the opposite. It's good to see bitcoin in the mainstream media, and not in stories about drugs or porn or all that other stuff that bitcoin gets tarnished with.
After being proclaimed dead for more than a hundred times, something positive is bound to come by released by the "unbiased" media. Bitcoin is global, but I have a hard time seeing it as a currency. A store of value, yes, but as a means to buy things, it hasn't established itself as that with great success.
Why is that? I tend to use Bitcoin for the majority of my purchases. The only times that I do have problems is when merchants such as Amazon are too stubborn to accept Bitcoin directly, so I have to take alternative routes (buying gift-cards from members and services). I'm certain that this experience shall improve considerably in the near future. |
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unamis76
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June 25, 2016, 11:03:54 PM |
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I don't really think investors rushed to Bitcoin... Investors slowly crawled towards Bitcoin when Brexit started to be talked about. The raise in price was most likely made by people taking advantage of Brexit... Meaning Brexit didn't create the price bump, the price bump was created by traders due to decreased confidence in the pound  |
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ShrykeZ
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June 25, 2016, 11:09:34 PM |
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I don't really think investors rushed to Bitcoin... Investors slowly crawled towards Bitcoin when Brexit started to be talked about. The raise in price was most likely made by people taking advantage of Brexit... Meaning Brexit didn't create the price bump, the price bump was created by traders due to decreased confidence in the pound After the vote results Bitcoin did climb a bit while the pound tumbled. |
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unamis76
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June 25, 2016, 11:11:03 PM |
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I don't really think investors rushed to Bitcoin... Investors slowly crawled towards Bitcoin when Brexit started to be talked about. The raise in price was most likely made by people taking advantage of Brexit... Meaning Brexit didn't create the price bump, the price bump was created by traders due to decreased confidence in the pound After the vote results Bitcoin did climb a bit while the pound tumbled. Yes, but you can't directly link those. There are many whales moving the market and many times the market doesn't move due to a real, "organic" surge in volume by new people/investors... |
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tobacco123
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June 26, 2016, 01:11:04 AM |
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I don't really think investors rushed to Bitcoin... Investors slowly crawled towards Bitcoin when Brexit started to be talked about. The raise in price was most likely made by people taking advantage of Brexit... Meaning Brexit didn't create the price bump, the price bump was created by traders due to decreased confidence in the pound After the vote results Bitcoin did climb a bit while the pound tumbled. These are so-called knee jerk reactions. Two more years to Brexit so things do not change overnight. However, we now have another factor supporting the growth for the coming days... |
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Woshib
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June 26, 2016, 01:15:30 AM |
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After Brexit, I think a lot of investors who were based in Europe will choose to invest in Bitcoin, which has a price that changes a lot, and that Bitcoin is a good cryptocurrency. This is good news for the Bitcoin, it will help to increase the price before halving. |
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The Sceptical Chymist
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June 26, 2016, 02:02:00 AM |
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<snip>
Why is that? I tend to use Bitcoin for the majority of my purchases. The only times that I do have problems is when merchants such as Amazon are too stubborn to accept Bitcoin directly, so I have to take alternative routes (buying gift-cards from members and services). I'm certain that this experience shall improve considerably in the near future.
Well, because I get paid in fiat, items are priced in fiat, it's much easier to use a debit card or cash, there are more protections, and fiat is far more stable than bitcoin. Those are the reasons why I don't see it as a "good" currency. At least if bitcoin were more stable, it'd be better. And if more merchants took it. But for me, if I want to buy something I usually have dollars that I earned from my paycheck. It is jumping through a hoop to buy bitcoin just to spend it, and there's no need to do that. The reason I buy bitcoin is as a speculative instrument and somewhat as a store of value. If I want to buy something, I just use cash. |
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rphk
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June 26, 2016, 03:15:38 AM |
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After Brexit ,yes there is impact on economy , first thing is people go for gold and then next things comes is digital currency i.e bitcoin , bitcoin always on demand now days , i hope it will help to increase the price of bitcoin |
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lumeire
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June 26, 2016, 03:19:18 AM |
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I don't really think investors rushed to Bitcoin... Investors slowly crawled towards Bitcoin when Brexit started to be talked about. The raise in price was most likely made by people taking advantage of Brexit... Meaning Brexit didn't create the price bump, the price bump was created by traders due to decreased confidence in the pound After the vote results Bitcoin did climb a bit while the pound tumbled. Yes, but you can't directly link those. There are many whales moving the market and many times the market doesn't move due to a real, "organic" surge in volume by new people/investors... A bit of panic buying into assets like BTCBTCBTC can also be the reason behind that movement. They'd expect the pound and euro to go down a bit more because of Brexit, and any other referendum within the EU that would happen after. Bitcoin is global, but I have a hard time seeing it as a currency. A store of value, yes, but as a means to buy things, it hasn't established itself as that with great success. Still a good article. I kind of figured it'd be in the news once the price started booming.
With a bitcoin-powered debit card, you can buy anything with it. So in a way it's a currency already. |
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RoommateAgreement
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June 26, 2016, 03:19:55 AM |
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this is awesome news about bitcoin all around.
especially since it is a good news that shows the positive side of bitcoin on a very big scale and also on famous and big news places.
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Buying the dip...
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Divinespark
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June 26, 2016, 03:59:34 AM |
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I think it's premature to ascribe the safe haven moniker to BTC. Even after Brexit, the price only shot up 7% which is miniscule relative to total flow of capital into safe assets. Long way to go yet.
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pooya87
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June 26, 2016, 04:24:44 AM |
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I would tend to say that this is a premature statement. Just because the price reacted positively that does not mean that a lot of new investors rushed into Bitcoin within a few hours (wouldn't 'rushing' into an investment be irrational?). Anyhow, we've yet to see the full effect of this. It does take some time for the money to move and judging by the Speculation section people are divided when it comes to the effects of Brexit. Some claim that it has no effect, while others say the opposite.
actually i think that the long time would only be for regular people not for experienced traders, the later will switch easily and fast. but also i think the effect of brexit so far is mostly hype that raised the price not actual new investors, that is going to take longer. |
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Lauda
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June 26, 2016, 07:22:44 AM |
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The GBP to Bitcoin and vice versa volume has not really changed much. This indicates and confirms that nobody is rushing into Bitcoin (at least with that currency). Besides it does take some time to move your money as well. Well, because I get paid in fiat, items are priced in fiat, it's much easier to use a debit card or cash, there are more protections, and fiat is far more stable than bitcoin. Those are the reasons why I don't see it as a "good" currency. At least if bitcoin were more stable, it'd be better. And if more merchants took it. But for me, if I want to buy something I usually have dollars that I earned from my paycheck. It is jumping through a hoop to buy bitcoin just to spend it, and there's no need to do that. The reason I buy bitcoin is as a speculative instrument and somewhat as a store of value. If I want to buy something, I just use cash.
The problem is earning Bitcoin then, not spending it. If you already have a sufficient amount of Bitcoin, there is no reason to use a CC or such as you'd have to 'jump through a hoop' to get the fiat equivalent. The stability of the price does not matter that much either since you're paying at a said time with the exchange rate of that time. The only downside is that if you keep Bitcoin for a longer amount of time, there are going to be times at which your fiat equivalent is worth less(due to the price dropping). However, there's also the chance that it will go up. actually i think that the long time would only be for regular people not for experienced traders, the later will switch easily and fast. but also i think the effect of brexit so far is mostly hype that raised the price not actual new investors, that is going to take longer.
It might (should?) have an affect in the longer term, but let's wait and see how it plays out. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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steven0021
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June 26, 2016, 07:30:40 AM |
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If they're going to cling to BTC then they should be prepared for the extreme volatility of the price. I'm thinking that most "normal" investors won't feel all that comfortable seeing the price move around by a large margin (~10%) every week
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SuperCoinGuy
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June 26, 2016, 07:58:57 AM |
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I think it's too early to know what the real ramifications for the UK economy will be after deciding to leave the European Union. This will make trading and exchanging of services a lot more harder now that they are on the way out, but I heard it will be at least 2 more years until they will have officially left, so I guess if they were to take Bitcoin in consideration as an option for doing business and not only as an investment vehicle we would see this happen in that time frame. The British pound is not so volatile like Bitcoin though, and even though it showed some momentary weakness the trend for it is to not go down in the long term right? It would be very interesting to see what the younger Brits will be doing now.
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