Bitcoin and Brexit | Bitcointalksearch.org

mindrust

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Quote from: e-coinomist on March 18, 2019, 08:07:01 AM

So there must be another country who is selling BTC like there is no fucking tomorrow, since each trade involves two parties

Where are the production facilities producing BTC located?

Of course there are sellers who are selling btc like there is no fckn tomorrow. They are called "miners". They don't have any other choice but to "sell" because you know, operating costs.

What I am seeing here, USA is buying most of the coins which are being sold. Not UK, not Japan, not Germany. %90 of the time it is the US. They are trying to adopt early. (earlier than the rest)

e-coinomist

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Money often costs too much.

Quote from: mindrust on March 12, 2019, 04:22:47 PM

Quote from: o_e_l_e_o on March 12, 2019, 04:04:30 PM

What a shambles. Price of bitcoin in GBP hasn't really differed from the general BTC trend, though.

It is because GBP has no influence over BTC's price at all.

It is either JPY, USD or CNY. (sometimes EUR too but not as big as these three.) But it is %90 of the time USD which moves the price of BTC.

You should see this:

https://fiatleak.com/

The Americans are buying BTC like there is no fucking tomorrow.

So there must be another country who is selling BTC like there is no fucking tomorrow, since each trade involves two parties

Where are the production facilities producing BTC located?

Dexion

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I'm not sure. I think other countries will reject Brexit. it's like a Bitcoin ETF. so. Brexit will get rejection from every country except some countries that have great enthusiasm for the crypto world.

mohammedmattar

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Quote from: Mbitr on March 07, 2019, 10:41:21 AM

Brexit is looming for the UK on 29th March. Will this have any effect on bitcoin price ?
When the vote took place in the UK back in 23rd June 2016 and the result was revealed the following morning - many London bankers made a killing on pound Sterling/ Euro forex. There also appeared to be a spike in the btc/usd , this may well have been completely independent of the vote. What will happen on the 29th March? Anyone have any thoughts?

This depends on the relative weight of the GBP in the encryption market
I think it is weak
But on the other hand, the GBP will receive a blow when Britain leaves the EU but who will benefit?
I see that the dollar and gold will precede BTC

kamBlanV

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Brexit will be a scenario that can harm everyone. but on the other hand Brexit has good influences for the volatility of BTC and other crypto. I thought. Brexit will be the basis of debate among other countries. March 29 I see Brexit will still be rejected.

Mpamaegbu

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Once a man, twice a child!

Quote from: Mbitr on March 07, 2019, 10:41:21 AM

Brexit is looming for the UK on 29th March. Will this have any effect on bitcoin price ?
When the vote took place in the UK back in 23rd June 2016 and the result was revealed the following morning - many London bankers made a killing on pound Sterling/ Euro forex. There also appeared to be a spike in the btc/usd , this may well have been completely independent of the vote. What will happen on the 29th March? Anyone have any thoughts?

May be I miss the point here but I really don't see any correlation between thr Brexit and cryptocurrency. Except we are alluding that the UK will dump the pounds for Bitcoin as their national currency. But again this is highly impossible considering the fact that the British are a very proud race. Look at how they insisted on the Pound Sterling despite being in the EU where Euros is the common currency.

kidbounty

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HELENA

I don't think this will have a big impact. now the market will not move with speculation like this. bitcoin and brexit are very far away. maybe brexit can have an impact on the European economy but not crypto.

Vaskiy

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The brexit deal has been going around for a long time. Theresa May has failed twice and now it's delayed, looking the political scenario nothing is exactly predictable. Back when the brexit deal was announced there was some impact experienced over the market of bitcoin, and the same can't be expected to take place by now. Maybe some forward push could happen.

o_e_l_e_o

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Quote from: jojohamasa on March 14, 2019, 05:17:16 PM

March 29 will not be the date of Britain's exit from the European Union
The date has been extended because the British government is facing trouble in Parliament

It's certainly looking that way, but nothing is set in stone yet. The UK parliament voted by 413 to 202 yesterday to ask the EU to delay the date of Brexit, but the EU have to agree to it, and any one of the member states could veto an extension. Similarly, the vote to reject leaving the EU with no deal was not legally binding, and so currently the UK will still be leaving the EU on the 29th March without a deal. If they agree to a deal in the meantime, the date will be pushed back to June to allow time for legislation regarding said deal to be put in place. Or the EU might grant a longer extension to allow the UK to re-negotiate, hold a second referendum, or even hold a general election.

You are probably right in saying the UK won't leave on March 29, but the date hasn't been extended yet. A lot could happen in the next two weeks. As expected, the likelihood of Brexit being delayed has caused the pound to rally somewhat against the dollar over the last several days. Also as expected, the effect on bitcoin has been negligible.

pixie85

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Quote from: Jet Cash on March 11, 2019, 07:16:33 AM

The UK will become massively stronger once it is free of the leeching EU. But this will only affect the exchange rate between Bitcoin and Sterling. The collapse of Deutsche bank and thus the EU will have much more of an effect in my opinion.

Will there really be a brexit? They are delaying it so much that this can take a while.
Do you really believe that the EU will collapse with a large economy that Germany is leading it? It can become smaller with some countries leaving but it won't disappear. Poor countries need loans the EU provides and rich ones need markets for their companies to expand.
I don't see any way in which brexit could influence bitcoin. These are unrelated.

jojohamasa

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Quote from: Mbitr on March 07, 2019, 10:41:21 AM

Brexit is looming for the UK on 29th March. Will this have any effect on bitcoin price ?
When the vote took place in the UK back in 23rd June 2016 and the result was revealed the following morning - many London bankers made a killing on pound Sterling/ Euro forex. There also appeared to be a spike in the btc/usd , this may well have been completely independent of the vote. What will happen on the 29th March? Anyone have any thoughts?

March 29 will not be the date of Britain's exit from the European Union
The date has been extended because the British government is facing trouble in Parliament
I do not like working this way
I prefer trading at a small but sustainable profit rate
Better than relying on lucky strokes that may not come

hxtop

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This situation is likely to lead to turmoil in the financial market, but Brexit's long-term effects will be much more effective and it is difficult to predict what kind of results it will already have.

gabbie2010

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Quote from: Mbitr on March 07, 2019, 10:41:21 AM

Brexit is looming for the UK on 29th March. Will this have any effect on bitcoin price ?
When the vote took place in the UK back in 23rd June 2016 and the result was revealed the following morning - many London bankers made a killing on pound Sterling/ Euro forex. There also appeared to be a spike in the btc/usd , this may well have been completely independent of the vote. What will happen on the 29th March? Anyone have any thoughts?

Definitely the impact on the brexit will be felt on the price of bitcoin in days preceding the decisive date, thereafter I belief the price will be normal however the effect will be minimal considering the the numbers of users in UK compared to other countries globally IMHO.

Leonardo7

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When there was a FUD about China banning bitcoin in 2017, which eventually proved to be true howbeit with some strict conditions. Bitcoin still went up high after a dramatic fall and would later go ATH the same year despite the population of traders of bitcoin in China, they seem to somehow find a way around the government regulations then. So Brexit will eventually have no negative impact on bitcoin, many traders might even migrate to bitcoin market as we may see a weak Eurozone after the exit.

palle11

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I do not think that the outcome of 29 March will affect bitcoin directly and my reason is that bitcoin has not respected the fundamental most times that it will change its trend.

But, I do know that it will affect bitcoin paired with fiat.

mindrust

legendary

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Quote from: o_e_l_e_o on March 12, 2019, 04:04:30 PM

What a shambles. Price of bitcoin in GBP hasn't really differed from the general BTC trend, though.

It is because GBP has no influence over BTC's price at all.

It is either JPY, USD or CNY. (sometimes EUR too but not as big as these three.) But it is %90 of the time USD which moves the price of BTC.

You should see this:

https://fiatleak.com/

The Americans are buying BTC like there is no fucking tomorrow.

o_e_l_e_o

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Well, the pound has fallen further today, and the UK government has again lost a vote in parliament to secure support for its terrible Brexit deal. The next step is tomorrow there will be a vote on whether or not to leave with no deal, which is likely to fail, and then there will be a vote on whether or not to ask the EU to delay Brexit. Voting to delay Brexit doesn't actually solve any problems though, as the UK still can't seem to decide what it wants, and the EU are likely to refuse an extension unless the UK propose a good reason for it (e.g. a second referendum, a general election), and not just "we haven't decided yet".

What a shambles. Price of bitcoin in GBP hasn't really differed from the general BTC trend, though.

Jet Cash

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The UK will become massively stronger once it is free of the leeching EU. But this will only affect the exchange rate between Bitcoin and Sterling. The collapse of Deutsche bank and thus the EU will have much more of an effect in my opinion.

A far larger influence will be the proposed State backed crypto from the Bahamas -
https://www.newsbtc.com/2018/06/25/bahamas-launching-state-backed-cryptocurrency-legitimate/
As most of you are probably aware, The City of London controls most of the world's money via a hierarchy of trusts in British Commonwealth tax havens like the Bahamas. This is in association with Washington, the country that rules and controls America. It may well be that this crypto will be the forerunner of the new world currency that will replace the unsustainable current fiat systems.

Will Sterling survive? Sterling is the oldest of the current world currencies, and one of the few that still has gold coins as legal tender ( the Sovereign and the Britannia ). It is one of the few currencies that the ruling elite of bankers may decide to retain as we move into the world of formal virtual currencies. These will probably be misnamed as crypto-currencies to try to gain acceptance following the success of Bitcoin.

Ispep

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Brexit should not have any influence on the bitcoin price, I do not see any correlation or relationship between Brexit and the bitcoin.
Bitcoins price could rise or fall that day, as it did previously, but I doubt if any of that would be because of the decision.
We are fond of attributing big events to the price of the bitcoin even if they have no relationship between them

buharikx31

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Definitely there would be a price spike, better for people who are holding bitcoins to save them using teather or withdraw them, again it's only my opinion, but to be safer it's not a bad idea. Yes, if there would be a spike I think it would be not that big, because there is no restictions for ICO, as we saw 2 years ago with China which had them.

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