As UK Pound Continues to Decline, Bitcoin Volatility Gets Revaluated

[Chronobank]

Mainstream investors and financial institutions have dismissed Bitcoin as a currency due to its intense volatility. The British pound recently plunged to more than 6% in minutes, crashing various markets and exchanges.

While the British pound came closer to reaching its 31-year low value, the price of Bitcoin continues to surge, reaching $635 with experts presuming a $700 breakout by the end of October.

Since Brexit, the British pound has continued to struggle in dealing with its declining value. The rapid devaluation of the national currency forced a substantial number of financial and Fintech startups to relocate, moving to economically and financially stable regions such as Germany.

Earlier this week, the UK pound plunged more than 6% in a matter of minutes, creating a major upset in the Asian market. Matt Simpson, senior market analyst at ThinkMarkets in Singapore stated:

“It was just another quiet day in Asia, and then, Bang! All the lights went red.”

https://cointelegraph.com/news/as-uk-pound-continues-to-decline-bitcoin-volatility-gets-revaluated

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[saddampbuh]

good thing i get paid in dollars

[markj113]

good thing I have a good stack of gold

[countryfree]

I have yet to see or hear about someone selling £ to buy BTC.
But I totally understand why the £ is falling. There's a lot of anxiety about the brexit. Aston Martin won't suffer, but it's might be more difficult for Nissan.

[criptix]

good thing I have a good stack of gold

Better flee from the uk now before it is to late and they take your stack of gold away because they are bankrupt lul

[markj113]

good thing I have a good stack of gold

Better flee from the uk now before it is to late and they take your stack of gold away because they are bankrupt lul

And what country are you from, hope its not the US with their $19 trillion debt equal to over $166,000 per tax paying citizen

or maybe Germany where Deutsche bank is about to fold with a $75 trillion derivative exposure, I pity the EU citizens that will get to bail that one out.

Or maybe France, Italy, Greece ... thinking about it looks like most countries are bankrupt.

[criptix]

good thing I have a good stack of gold

Better flee from the uk now before it is to late and they take your stack of gold away because they are bankrupt lul

And what country are you from, hope its not the US with their $19 trillion debt equal to over $166,000 per tax paying citizen

or maybe Germany where Deutsche bank is about to fold with a $75 trillion derivative exposure, I pity the EU citizens that will get to bail that one out.

Or maybe France, Italy, Greece ... thinking about it looks like most countries are bankrupt.

Look uk is close to implode.
And if anyone in europe or the us collapses then it will only fasten the destruction of the uk economy. 

#31 year low

#rekt

[markj113]

Close to imploding lol - we are the fastest growing economy of the G7 according to the IMF.

Its no suprise the pound will take a hit in the short term post Brexit during which the UK will thrive from exports and increased tourism.

The pound will also recover in the mid term and business will continue as before.

I dont think Germany and France are in position to cut their nose off to spite their face with BMW, Audi, French wine, champagne and cheese imports etc.

German imports - $100 billion
French imports - £41.5 billion


You sound like a typical butt hurt German coming to realise that you will have to finance the big gaping hole in the EU budget after we have jumped ship.

How's life in Germany after being flooded with Merkel's rapefugees?

p.s. Myself and many others are more than happy take a hit to living standards in the short term just to tell Merkel and her EU cronies to go fuck themselves and take back control of our country and borders.

[criptix]

Close to imploding lol - we are the fastest growing economy of the G7 according to the IMF.

Its no suprise the pound will take a hit in the short term post Brexit during which the UK will thrive from exports and increased tourism.

The pound will also recover in the mid term and business will continue as before.

I dont think Germany and France are in position to cut their nose off to spite their face with BMW, Audi, French wine, champagne and cheese imports etc.


You sound like a typical butt hurt German coming to realise that you will have to finance the big gaping hole in the EU budget after we have jumped ship.

How's life in Germany after being flooded with Merkel's rapefugees?

Yeah im totaly angry as hell. But well who wouldnt if you realize that your national currency is on a #31 year low and you lost over 40% of your networth in a year.

#rekt

Btw. I didnt even saw a refugee once in the last 8 months lul.

[markj113]

Lost 40% of my net worth?

I get paid the same and the goods and services I purchase are costing the same.

I have paid my mortgage off, I have no debt and drive a porsche 911 so not feeling the pain here at all

p.s you seem really pissed the UK left the EU, why?  how does it make any difference to your life?

[criptix]

Lost 40% of my net worth?

I get paid the same and the goods and services I purchase are costing the same so not feeling the pain here at all.

Right because the UK has zero imports 
Please stop being delusional and realize you are #rekt.

Like do you feel proud to be nearly on the same level as venezuela or chad and similar?

#31 year low

Ps: it doesnt. But it will impact future british kids. They are fucked because of delusional tards.

[markj113]

You really have no grasp on reality in the UK.

I think you have spent too much time reading your fuhrer's propaganda.

And yes I am proud my country men told the EU to go fuck themselves, we have put you Germans in your place previously and we will do it again.

Our success post Brexit will be a shining example of what can be achieved without the shackles of EU control and others will follow and this is what really terrifies Merkel and Juncker.

France will be next, another one of the few net EU budget contributors.  All that will be left is Germany financing all the shit hole countries single handed leading to your bankruptcy and destruction.

[popcorn1]

The UK has recorded its biggest-ever month for tourist visits after the referendum-related slump in the pound lured 3.8 million people to British shores in July.

In the highest month ever for inbound tourism, overseas visitors spent £2.5bn – 4% more than last year, according to new figures from the tourism agency VisitBritain.

The sudden currency depreciation triggered by the result of the June referendum vote has left sterling hovering at its lowest level against the dollar for more than 30 years. This has turned the UK into a relatively cheaper destination for millions of foreign travellers wanting to shop for luxury goods or visit attractions such as the Lake District or Buckingham Palace.

Announcing the figures at the the launch of the agency’s 2015-16 annual review, VisitBritain said the July boost was continuing a long-term pattern of growth which in 2015 saw a record 36.1m inbound visits to Britain and triggered total spending of £22.1bn. July was also a record month for inbound visits from EU countries – the UK’s largest source of visitors – with 2.3m visits, 3% up on last year as European tourists took advantage of the pound’s decline against the euro in the wake of the referendum. The pound is trading at its lowest against the euro for nearly seven years.

LOTS AND LOTS OF JOBS ..And we don't need other EU countries we can do it on our own if you try to be funny in trade ..

Brexit not end of the world' Ex-Bank of England Governor Mervyn King WELCOMES pound drop

THE former Bank of England Governor has said Brexit is "not the end of the world" as he welcomed a drop in Sterling

Lord King said he welcomed the fall in the pound, which dropped by a dramatic six per cent on Friday to US$1.18 in early Asian trading.

He said fears over the fluctuating pound, which fell to its lowest level in 31-years, were exaggerated.

Lord King, who was head of the Bank of England three years ago, told Sky News in New York: "The economy was slowing somewhat before the vote and we are in a position where the rest of the world is not offering us much help.

"So from that point of view the fall in sterling is a welcome change."
He added: "The whole thing has generated reactions which are over the top.

"During the referendum campaign, someone said the real danger of Brexit is you'll end up with higher interest rates, lower house prices and a lower exchange rate, and I thought: dream on.

"Because that's what we've been trying to achieve for the past three years and now we have a chance of getting it.

"I don't think we should fear Brexit.
"It's not a bed of roses, but nor is it the end of the world..

But the rest of the EU will be SKINT..DON't mess with US BRITISH .. ..
So be nice to us in trade or you will pay a bigger price than we will ..

[criptix]

Rofl

You tards are amazing. Just keep dreaming on while foreigners have their biggest shopping tour through the UK and buy everything for a penny or two lols.

You will see how much your future generations will have fun when the pound rolls under 1$.

And when this happens be careful to not get lynched by your own kids.

#31 year low

Remember greece prostitutes for 1€. It will happen soon in the UK LOL

Ps: it really helps the brain if you arent stoned the whole day. 1+1 doesnt equal 3 lol

[markj113]

Rofl

You tards are amazing. Just keep dreaming on while foreigners have their biggest shopping tour through the UK and buy everything for a penny or two lols.

You will see how much your future generations will have fun when the pound rolls under 1$.

And when this happens be careful to not get lynched by your own kids.

#31 year low

Remember greece prostitutes for 1€. It will happen soon in the UK LOL

Ps: it really helps the brain if you arent stoned the whole day. 1+1 doesnt equal 3 lol

You argue like a child.

At a guess I would say you are probably in your 20's and from generation "snowflake"

The tourists coming to the UK actually bring money, spend it then leave.

Merkel's tourists turn up with no money spend yours, rape your women and children and then wont fuck off back home 

[popcorn1]

Rofl

You tards are amazing. Just keep dreaming on while foreigners have their biggest shopping tour through the UK and buy everything for a penny or two lols.

You will see how much your future generations will have fun when the pound rolls under 1$.

And when this happens be careful to not get lynched by your own kids.

#31 year low

Remember greece prostitutes for 1€. It will happen soon in the UK LOL

..We can sell to the world you can sell to the skint EU ..

How many countries speak GERMAN ..
English is the most known languge on this planet and when people from other countries learn it they want to come to the uk to use it ..
Cheaper pound means more people wanting to spend money in the uk..More jobs for our people..Instead of just finance..People want British goods made by British hands..

[markj113]

When all else fails you can always resort to Hitler cat memes for a German.

[criptix]

Rofl

You tards are amazing. Just keep dreaming on while foreigners have their biggest shopping tour through the UK and buy everything for a penny or two lols.

You will see how much your future generations will have fun when the pound rolls under 1$.

And when this happens be careful to not get lynched by your own kids.

#31 year low

Remember greece prostitutes for 1€. It will happen soon in the UK LOL

Ps: it really helps the brain if you arent stoned the whole day. 1+1 doesnt equal 3 lol

You argue like a child.

At a guess I would say you are probably in your 20's and from generation "snowflake"

The tourists coming to the UK actually bring money, spend it then leave.

Merkel's tourists turn up with no money spend yours, rape your women and children and then wont fuck off back home 

Really? Then you must be one these millenium babys who are 16 right now. That explains everything and i forgive you for being stupid.

Duh hey you economic expert please tell me if the UK is an importing or exporting nation?
The great majority of the UK population is taking huge losses right now and it will be even worst in the future.

Nearly everything the UK produces is dependent on import. Stop smoking weed and be high all day long - it clearly impacts your though process.

[markj113]

Time will tell.

Duh hey you economic expert please tell me if the UK is an importing or exporting nation?

We import more than we export, so what do you think will happen when EU manufactured goods increase significantly in price?  

Will people rush out to buy that new BMW etc?

No they wont.  So who's economy will feel the hurt more?

German imports - $100 billion (mostly cars)
French imports - £41.5 billion (luxury goods such as wine and champagne)

I am personally now making an effort to only buy UK products when shopping and I even took a UK holiday for the first time ever this year.

[Buffer Overflow]

Let's hope the UK has exited the toxic EU before the next inevitable round of bailouts starts.

Better still, perhaps we should have our own ballout from EU, the day before departure.