Brexit

Bloomie

Administrator
Staff member
Aug 19, 2015
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803
As expected, the news reporting cycle on Brexit lasted about 7 days, at least here in the U.S. It'd be good to hear from our members in the UK and Europe how the referendum has affected their communities so far and your general thoughts on the long-term effects of this event on Bitcoin and money in general.
 

solex

Moderator
Staff member
Aug 22, 2015
1,558
4,693
I'm in the UK at present, and everyone is just continuing as before, fairly oblivious to the fact that the pound has fallen so much. Must be hurting some importers and holiday-makers though. The 9 property funds which have suspended redemptions are canaries in the coal-mine evidencing withdrawals of invested capital from the UK.
The effect on Bitcoin is probably longer term where the stresses on Italian and German banks (particularly Deutsche) will require money-printing by the ECB. The re-election of Abe with a bigger mandate implies much more yen printing to come.
At some point the deflationary effects of debt reduction in many countries will reach a tipping-point where quantitative easing and velocity over-compensate resulting in high-inflation. Bitcoin to shine like gold in that scenario. When? Before 2020, but I can be as wrong as anyone else in estimating timeframes.
 
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freetrader

Moderator
Staff member
Dec 16, 2015
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6,088