Brexit: Gold Might be a Better Bet Than BTC for a While - page 2.

panju1

legendary

Activity: 1246

Merit: 1000

Quote from: 7788bitcoin on June 24, 2016, 08:23:33 PM

I think these are just knee jerk reactions to the result of Brexit. The date is still not set and there is still about 2 more years before UK truly leave EU. Uncertainty is before us but changes will happen gradually.

The market is factoring in new information.
Even if it will be 2 years before UK truly leaves the EU, there will be major implications.
Companies will start factoring it in their decisions today. Home prices will start reflecting it today.

clarkgeneral86

hero member

Activity: 1043

Merit: 500

Gold has no upper limit; bitcoin is orders of magnitude more limited than gold is so as more people want bitcoins, they'll have to pay more to get some, plain and simple.

tobacco123

sr. member

Activity: 552

Merit: 250

Quote from: 7788bitcoin on June 24, 2016, 08:23:33 PM

I think these are just knee jerk reactions to the result of Brexit. The date is still not set and there is still about 2 more years before UK truly leave EU. Uncertainty is before us but changes will happen gradually.

Although there are two more years to go, things are really different now. Imagine after telling your boss you are leaving your job in 1 month, the way your boss treat you will be very different in the last 1 month...

7788bitcoin

legendary

Activity: 2282

Merit: 1023

I think these are just knee jerk reactions to the result of Brexit. The date is still not set and there is still about 2 more years before UK truly leave EU. Uncertainty is before us but changes will happen gradually.

leopard2

legendary

Activity: 1372

Merit: 1014

TODAY:

Brits were unable to withdraw money

http://www.dailystar.co.uk/news/latest-news/525275/Panic-Brits-denied-cash-abroad-Sterling-crashes-Pound-Brexit-Europe-Referendum

http://www.mirror.co.uk/news/world-news/uk-holidaymakers-greece-refused-cash-8274302

A tiny pretaste of what is lurking due to fiat money and the entire system based on it. Gold is nice, but for transferring money, a bit impractical. A Mycelium or other mobile BTC wallet and a bit more acceptance, and we can take the banks out of the equation.

...BITCOIN NOT AFFECTED... Grin

MingLee

hero member

Activity: 490

Merit: 520

Anyone who doesn't own gold after the Brexit is either a fool, too confident, or too financially unstable in order for them to own some gold. The world markets are all going to be wanting to throw themselves off buildings after this, and it will cause massive changes within the EU and how everything is run. It also takes a big chunk of the EU's economic product away (relative to other nations), and it might burden the remaining big economies even more, on top of the migrant crisis and everything else happening.

I'll probably look into buying some gold very, very, VERY soon.

OROBTC

legendary

Activity: 2940

Merit: 1865

...

Most polls had the UK to "Bremain", late last night all that was smashed to pieces. The UK Pound was down huge, the largest drop since the currencies were permitted to float.

Gold was up some $50, one of the the only times that has ever happened.

FEAR is ruling the financial world this weekend. Derivatives and margin calls may hit on Monday (remember October in 1987? Monday was the killer after a bad prior week). Risks of contagion are very high.

When there is fear in the air, people flock to gold. Yes, BTC will likely perform as currencies become perilous. BTC may be better over a longer haul. But it is the short-term that I am looking at hardest.

Prudence would suggest that everyone own some gold.

Topic: Brexit: Gold Might be a Better Bet Than BTC for a While - page 2. (Read 1153 times)