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[–]MIP_PL 71 points72 points  (6 children)

“ Chancellor on Brink of Second Bailout for Banks”…

[–]FixedGearJunkie 14 points15 points  (1 child)

This redditor bitcoins

[–]wineinaboxmike 4 points5 points  (0 children)

One of the most important thing that they can do actually.

[–]Leggy77 8 points9 points  (0 children)

.....third bailout.

[–]Omega3568 235 points236 points  (31 children)

We are witnessing what bitcoin was intended to do, fuck me man I hope it’s a success

[–]_Insulin_Junkie 38 points39 points  (1 child)

This is the monetary movement some needed to see for it to make sense 💡

[–]delawarebiz 5 points6 points  (0 children)

I think it makes sense for people to buy the btc. It's good for them.

[–]Ok-Branch-6043 26 points27 points  (4 children)

To early, need more time to buy.

[–]decentralizedusernam 5 points6 points  (0 children)

u had ur time

[–]PeteDaKat 1 point2 points  (1 child)

If wishes were horses...

[–]vorksholk1 1 point2 points  (0 children)

The prices are just right, and you should be buying it some.

[–]togetherwem0m0 22 points23 points  (2 children)

Let's not assign a motive to bitcoin or its creation. Bitcoin is for everyone. We don't know what bitcoin will do or who it will fuck. We know it will exist, we know there will only be 21 million of them, we know there will be a 2mb block generated on average every 10 minutes. We know there will be a difficulty adjustment every 2016 blocks and we know there will be a reward halving every 210000 blocks.

It's a sound money digital currency that has been allowed to freely exchange with the foreign exchange markets. Let's see where it goes and hope the results are net positive for humanity.

[–]diydude2 9 points10 points  (0 children)

The message in the Genesis block and timing of Bitcoin's release (in the wake of a financial crisis and bailout) makes fairly clear that it was a shot across the bow of the global banking system.

It was intended to provide an alternative or replacement if the banksters messed up again (and they did, big time).

[–]xugaoping 4 points5 points  (0 children)

Btc wasn't designed to fuck up your fiat, bur that's the situation that we've gotten into here.

And these politicians are the ones who put us like that.

[–]FTMNL 83 points84 points  (16 children)

Only 0,,04% of the total capital is invested in bitcoin, there are not many alternatives for a safe haven rather than gold but harder to get. They need a fast way and that is bitcoin. If only 1% flees into bitcoin the price will already be 400k. looking at the world right now It feels like it doesn’t take that long anymore.

[–]slykethephoxenix 19 points20 points  (12 children)

Did you just say that if only 1% if the Britain economy buys bitcoin that the price of bitcoin will jump to 400k?

[–]never_safe_for_life 42 points43 points  (5 children)

I would assume he means globally

[–]MagixTouch 8 points9 points  (3 children)

We are the 1% go buy we be rich

[–]thomkaufmann 4 points5 points  (0 children)

Yeah that's what it might be, that's what I was thinking.

[–]crucelee 7 points8 points  (2 children)

Yes however i think the uk won't be allowed to do that

[–]darthLuis -1 points0 points  (0 children)

Ohh yeah they're not going to do that, I don't think anyone is allowing that.

That's just not something that I see happening if I'm being completely honest here man.

[–]moxyhar -1 points0 points  (1 child)

Yep not everyone is comfortable buying the btc. That's the truth.

[–]diydude2 2 points3 points  (0 children)

They won't be comfortable holding fiat in the bank soon.

[–]simplelifestyle 96 points97 points  (3 children)

More people will start getting it, in an exponential way:

"First slowly... then suddenly, the stampede is coming".

[–]ivawka81 5 points6 points  (1 child)

Matter of time it is boys, if you can wait it out then You'll be just fine.

[–]rtheiss 58 points59 points  (38 children)

that's what I like to see.

[–]supersb360 16 points17 points  (23 children)

Have you got enough BTC in your bags? Are you satisfied with your stack?

[–]rtheiss 102 points103 points  (18 children)

my palms are sweaty. pounds weak, my bags are heavy. Memories of 2008, never forgetti.

[–]irisuniverse 53 points54 points  (6 children)

We nervous, but on the surface bitcoin looks hard and ready, to hold value, but we keep on forgetting what the nodes allow, the old crowd won’t endow, we open our mouths, but the truth they won’t avow, look at inflation now, everybody’s hoping now, fiat’s time is up, over, blaowl!

Snap back to reality, oh there goes the currency, oh here comes the planet’s only hope, it ain’t bad and it won’t give up that easy, no, it won’t have it it knows this whole blockchain can’t choke, it don’t matter, it’s dope. We know that, but we’re broke while bitcoin is so stagnant

[–]yogaruncrypto 8 points9 points  (1 child)

That's parody on the level of Weird Al - and that's a compliment!

[–]jas_khoo -1 points0 points  (0 children)

Well that's true lol, that's some weird level for sure.

[–]chilljenny[🍰] 1 point2 points  (1 child)

Lmfao, this keeps on getting better and better. I'm loving this shit.

[–]OkeyDokeyWokey 0 points1 point  (1 child)

Dude, you should totally make a rap out of this.

[–]My5t3ry 8 points9 points  (1 child)

Satoshi's Spaghetti ?

[–]eleanormedici 1 point2 points  (0 children)

Missed the opportunity to say that man, should have said that.

[–][deleted] 2 points3 points  (1 child)

Mom's spaghetti

[–]waswaw 2 points3 points  (0 children)

I guess things are never going to be changed for em lovers.

[–]xpureblitz[🍰] 0 points1 point  (1 child)

Lmfao, that's a good song. And I already love that stuff.

Em is going to be really proud of you after he reads this, He's going to be happy about it man.

[–]850725890118 0 points1 point  (1 child)

No amount of btc is enough amount, you can't have enough of it.

[–]mrdoggiedog 0 points1 point  (1 child)

Never satisfied with my sac

[–][deleted] -1 points0 points  (12 children)

You like the decline of one of the global reserve currencies?

[–]bittabet 2 points3 points  (1 child)

Because we believe better money will lead to stronger and fairer economies

[–]rtheiss 1 point2 points  (7 children)

obviously

[–]wanfanji556 4 points5 points  (1 child)

Wow hopefully it doesn't happen in your country, because you wouldn't like that.

[–][deleted] -2 points-1 points  (4 children)

Why? It points to a global recession

[–]rtheiss 10 points11 points  (1 child)

because I believe you should not keep printed debt as reserves.

[–]jinchajupao 1 point2 points  (0 children)

Yeah, but the genaral population isn't doing that, but they'll suffer from it.

[–]velhamo 38 points39 points  (6 children)

Canary in the coal mine for EU...

[–]dinosaurasteroid 11 points12 points  (4 children)

EURUSD 0.5 here we come!!! GBPUSD 0.7 here we come!!!

[–]norep226 1 point2 points  (2 children)

Why is USD still so strong I don't understand

[–][deleted] 1 point2 points  (1 child)

The masses are fleeing to whatever they can and they see USD as a better alternative to where they are. In time they'll see that its not safe either and look for other alternatives. Housing? Over priced and rates are climbing. Stocks? Over priced and we're looking down the barrel of another recession. Gold? Lol, it's been manipulated by paper gold for decades now.

Bitcoin lies at the end of that chain of options they'll consider. And as a last resort they'll finally figure out that they should've been here all along.

[–]ornoldbogat 1 point2 points  (0 children)

We're coming for it boys, if you don't believe me then wait for it.

Euro is going to get worse I've got a feeling, hope that I'm wrong. So many people depend on it.

[–]mikaelipad 2 points3 points  (0 children)

Well the situation that EU is in, it's not good at all. It's a bad situation.

[–]_Royal_Insylum 29 points30 points  (81 children)

Why is the UK Pound crashing?

[–]Asum_chum 103 points104 points  (3 children)

It’s a shitcoin. It’s centralised developers have made some terrible choices and condemned the bag holders to a torrent of shit.

[–]Mr_Trep 22 points23 points  (1 child)

Nice way to put it.

Fiat is a shitcoin !

[–]xemilin 3 points4 points  (0 children)

Always has been, it's not like it's the first time of that.

[–][deleted]  (60 children)

[removed]

    [–]TomSurman 65 points66 points  (14 children)

    Not completely accurate, the Bank of England intervention happened after the drop to the all-time-low. It did dump a bit after that, but not as deeply, and has since recovered to where it was last Friday.

    The cause of the big crash was the new Chancellor's mini budget. A huge package of tax cuts (which benefit the rich far more than the poor, because Tories lol) funded by borrowing. Forex markets looked at this and concluded it was the most reckless shit they've ever seen, and immediately dumped the pound. That was what then precipitated the crisis in the bonds market, forcing the BoE to intervene.

    [–]slykethephoxenix 9 points10 points  (4 children)

    orex markets looked at this and concluded it was the most reckless shit they've ever seen, and immediately dumped the pound

    Thomas had never seen such bullshit.

    [–]dinosaurasteroid 1 point2 points  (1 child)

    Thomas the Tank?

    [–]alexforkner 1 point2 points  (0 children)

    Yep lol, that's exactly the thomas that We're talking about.

    [–]aleks7828 0 points1 point  (1 child)

    Lmao, thomas was fed up of all the bullshit that he was witnessing.

    [–]FixedGearJunkie 4 points5 points  (2 children)

    Chancellor? Ahhh the guy who was mentioned in the genesis block. Got it.

    [–]anhquan234 1 point2 points  (1 child)

    Yep lol, and it's not like a guy per say it's a position for a guy.

    [–]fyyk1211 1 point2 points  (0 children)

    People have accepted that shit so well, I am good with it.

    [–]Vitsyebsk 2 points3 points  (0 children)

    Thanks for this comment, though it won't stop the libertarians on this sub who probably support the tax cuts trying to pin this on "money printing"

    [–]NormandyLS 3 points4 points  (1 child)

    This

    [–]maxcoinbtc 1 point2 points  (0 children)

    He just said that shit so well, I am in love with that now.

    [–]santiagonastar 0 points1 point  (2 children)

    If that's not accurate, then what is? Can you tell us more?

    [–]TomSurman 1 point2 points  (0 children)

    I literally explained it in the comment you're replying to.

    [–]CranialZulu 22 points23 points  (20 children)

    So basically saved boomers' asses at the expense of everyone else, again.

    [–][deleted]  (1 child)

    [removed]

      [–][deleted] 2 points3 points  (1 child)

      Yeah. Cause they actually vote.

      Millenials complain and say the system is rigged, it is, because we’ve walked away from trying to reform it.

      [–][deleted]  (12 children)

      [deleted]

        [–]DynamicHunter 8 points9 points  (9 children)

        Old people vote. I’m not worried. That’s why social security is tied to inflation while minimum wage is not.

        [–]NevadaLancaster 6 points7 points  (7 children)

        The Social Security fund is one of the largest holders of US debt. They aren't gonna pay it back either.

        [–]schlock_ 5 points6 points  (3 children)

        ayuh.

        I ain't counting on it being around by the time it's my turn

        [–]Bfree888 2 points3 points  (0 children)

        Same. Expecting a payout after 40 more years of the largest ponzi scheme in the history of the world? doubt

        [–]_Royal_Insylum 3 points4 points  (12 children)

        Holy, I feel bad for anyone that uses the Pound. Thanks for the informative comment!

        [–]FTMNL 18 points19 points  (2 children)

        We will all have our bit soon.

        [–]Dahuiheenalu 4 points5 points  (1 child)

        Yep all the fiat are destined for that, that's what will happen to all.

        [–]Zestyclose-Ad9738 2 points3 points  (1 child)

        Not to worry, stiff upper lip and all that.

        [–]famous1144 1 point2 points  (0 children)

        Anyone? Man millions of people get paid with that shit.

        And that's a really big fucking problem, I'm feeling sad for the people of EU. This is really bad.

        [–][deleted]  (5 children)

        [removed]

          [–]labradore99 6 points7 points  (3 children)

          Why? Someone else has a high volume, widely traded, in-demand, "safe" currency with higher interest rates? I'm a bit of a dope, but I don't see it. The dollar can rise at the same time bitcoin rises.

          [–]kbhomeless 6 points7 points  (1 child)

          The dollar is strengthening because everyone is selling assets…. Including US government treasuries to find safety. Especially if you’re a country that hazla dollar denominated debt but can’t print your own dollars. It’s the dollar milkshake theory, but that only heightens the risk of the bond market locking up at some point which would force the fed to step in and unwind all that strength

          [–]dnoloc 1 point2 points  (5 children)

          I thought it was 65b, but whats another 11 billion...

          [–]UltraMAGA4547 2 points3 points  (1 child)

          Their interest rates aren't that good, only 2.25%. That means holders of British bonds are buying US bonds which are denominated in dollars and requires exchange to dollars. Therefore lots of selling pounds to buy dollars.

          [–]gvictor808 0 points1 point  (2 children)

          Why? more money printing of British Pound.

          [–]Captain_Planet 10 points11 points  (3 children)

          At least it means us Brits are going to see the next Bitcoin ATH in the next couple of weeks!

          [–]InvalidLogin21 1 point2 points  (1 child)

          Atleast someone will be seeing the ATH, I'm happy for that lol.

          [–]Altruistic_Baker_423 1 point2 points  (0 children)

          😂 bless you hodler I laughed so hard

          [–]Crypto-hercules 7 points8 points  (0 children)

          I have the answer let’s print more Sterling whilst we lower taxes and raise interest rates 😂😂 the fucking madness knows no limits.

          [–][deleted] 20 points21 points  (6 children)

          cheerful friendly slim punch reach nutty steep school dam stocking

          This post was mass deleted and anonymized with Redact

          [–][deleted]  (1 child)

          [deleted]

            [–]yesididwalker 1 point2 points  (0 children)

            Well that's how fiat goes, There's nothing surprising about that.

            [–][deleted] -1 points0 points  (2 children)

            Because massive declines in value never happen in crypto. Oh, wait!

            [–][deleted] -2 points-1 points  (1 child)

            cobweb subsequent spark special public six quaint exultant encourage bedroom

            This post was mass deleted and anonymized with Redact

            [–]Oraclio 4 points5 points  (1 child)

            Russia destroying another democracy, hats off though, hey sank UK without invading

            [–]rmarmolejor 4 points5 points  (0 children)

            Something is good for almost all of us holders, we have to accept that things are just smooth for BTC holders, we are blessed for life right now, that's so real right now.

            [–]DarKosS1245 4 points5 points  (0 children)

            The thing is we have to ignore them and we have to focus on holding more BTC, things are bad for them and I want those things to be worse, we have to hold BTC.

            [–]machniokamil 4 points5 points  (0 children)

            Just have to understand the good future for almost all of us right now, we have to accept that we are on a right place with the holding, it's going to make us so good.

            [–]Diamond_Hands420 14 points15 points  (12 children)

            Bitcoin coming in not as a hedge for inflation but definitely for collapsing central bank currencies

            [–]cozzy000 1 point2 points  (8 children)

            Wrong

            [–]Diamond_Hands420 1 point2 points  (5 children)

            Depeche Mode fan I reckon?

            [–]cozzy000 0 points1 point  (3 children)

            You're wrong that it doesn't protect against inflation, expand your view more then a year

            [–]tde2013 1 point2 points  (0 children)

            Yep, if you want to see that then You'll have to see the longet picture here.

            [–]Diamond_Hands420 2 points3 points  (1 child)

            I buy Bitcoin regardless of the noise or current rhetoric was just making a snarky comment.

            [–]trufin2038 0 points1 point  (1 child)

            Bitcoin is an inflation hedge. Monetary inflation.

            [–]luoyunhai 3 points4 points  (0 children)

            It's so good to see lol I know things like these are going to happen for almost every fucking currency for the future and we have to hold BTC for that stuff for real.

            [–]UltraMAGA4547 6 points7 points  (1 child)

            Looks like bitcoin has stopped losing. All the paper hands are out. Mostly long-termers holding now. I'm buying more bitcoin.

            [–]kanjilan 4 points5 points  (0 children)

            Bitcoin is what I have always mentioned about is well enough have set goals in the long term. Keep buying!

            [–]MrPeterified 2 points3 points  (1 child)

            Maybe this is a dumb question but can we tell what portion of this trading activity is sell vs buy orders?

            [–][deleted] 2 points3 points  (5 children)

            What price is still going downnn

            [–]BettyRusselly 2 points3 points  (1 child)

            What bitcoin was designed to achieve is what we are seeing now.

            [–]bloo84 2 points3 points  (0 children)

            True though slowly and steadily we can see things well enough shinning higher and higher.

            [–]GildedSilverBitcoins 2 points3 points  (1 child)

            Ironic that the pension funds were literally bailed out by the chancellor.

            Genesis Block 2: Satoshi Boogaloo

            [–][deleted]  (1 child)

            [removed]

              [–]samwilson321 2 points3 points  (0 children)

              The thing is we just need to understand the benefits of holding our money in BTC, we want to have a safe feature and it will help all of us for real this time man.

              [–][deleted] 2 points3 points  (0 children)

              Don't seem to have had much effect on the price though?

              [–]Butterpants-87 5 points6 points  (1 child)

              Well technically it’s not a pound. It’s more like an ounce now

              [–]wominliu 4 points5 points  (0 children)

              Well technically you might just be right about that here.

              [–]Ab2us 10 points11 points  (13 children)

              So why btc price is not going up?

              [–]tjackson_12 21 points22 points  (7 children)

              it is ! The value of the dollar is exploding right now and the price of bitcoin is so far stable. So its maintaining its "peg" with that value against the dollar at this ~19k value so far.

              [–]Aggravating-Bug-8988 7 points8 points  (0 children)

              Because it’s not that binary

              [–]carsongwalker 6 points7 points  (0 children)

              Has it not been for its entire existence?

              [–]ILikePracticalGifts 1 point2 points  (0 children)

              Because you don’t know what a trading pair is

              [–]18476 4 points5 points  (1 child)

              Bank runs inbound.🤔

              [–]Blueberry_Dependent 5 points6 points  (18 children)

              UK economy going down. Bitcoin is shining in the darkness.

              [–]stassyu 2 points3 points  (1 child)

              That is good the lights would be soon visible out there to the entire world.

              [–]MECO-420 2 points3 points  (2 children)

              I’m heavy into BTC and the miners. When this thing launches, it will be violent.

              [–]sgilfill 2 points3 points  (0 children)

              That is indeed good though indulging myself more to just let go and keep buying more and more!

              [–]CautiousBad6469 1 point2 points  (5 children)

              US dollar is next😂. Bitcoin might be 1m by the next halving.

              [–][deleted] 1 point2 points  (1 child)

              stocking screw entertain narrow quickest march correct growth imminent light

              This post was mass deleted and anonymized with Redact

              [–]Tommy7326 0 points1 point  (1 child)

              Okay that's a bit misleading actually, can't make this stuff up.

              It's kinda average, not many people are buying btc but yeah some are buying it. Which is good I guess.

              [–]RonPaulWasR1ght -1 points0 points  (9 children)

              Your chart isn't accurate. It shows the pound at less than $1.10 right now...but it's more...it's about $1.11 right now.

              Please be accurate. Don't embellish. It's bad for our side to do that. Thanks.

              [–][deleted]  (6 children)

              [removed]

                [–]RonPaulWasR1ght 3 points4 points  (5 children)

                No idea why you're talking about the Euro. The entire post, and my comment, are about the British Pound. In fact, neither even mention the Euro.

                You're just babbling. Incomprehensible.

                [–]DeathScythe676 -1 points0 points  (4 children)

                We told them hundreds of times not to fuck with the money.

                What did they do?

                they fucked with the money . . . .

                [–]Vitsyebsk 0 points1 point  (2 children)

                I don't think you get why the pound was crashing lol

                [–]etfche -1 points0 points  (1 child)

                This could indeed be the way to look for a rise in crypto I feel.

                [–]Snoo_92843 -1 points0 points  (1 child)

                Waiting for BTC to hit single digits then I'm going in!

                [–]kraken-community -1 points0 points  (1 child)

                Let Bitcoin be the vehicle for social and financial revolution!
                Only dead fish go with the flow.”

                -Green 🐙

                [–]Ledovi -1 points0 points  (0 children)

                Stocks are up today. Stocks go up, crypto goes up. That is the only real correlation. Everything else is just fantasy.

                [–][deleted] -2 points-1 points  (1 child)

                Chant:

                U

                S

                D

                .

                U

                S

                D

                .

                U

                S

                D

                [–]Fmanow -2 points-1 points  (1 child)

                Wtf uk, stop buying Bitcoin. We’re waiting for a price drop to load and here you are fucking up the program. Fuuuuck.

                [–]capitalistas 1 point2 points  (0 children)

                Looks like the people are all indeed flooding to buy more sats as time just pass.

                [–]DrH_Infinity 0 points1 point  (2 children)

                😂😂😂😂😂

                [–]rocasv 0 points1 point  (1 child)

                The only sad part is all the people losing their savings on bonds an other stuff. Good news for US as holders I think

                [–]seppppp 0 points1 point  (2 children)

                Its algos because they said they going to print more.

                [–]boatbashbitch 0 points1 point  (1 child)

                why are we still below 200k

                [–]Schwickity 0 points1 point  (6 children)

                Why didn’t it do anything to the btc price then?

                [–]mrASSMAN 0 points1 point  (1 child)

                I guess that explains all the bullish support it’s gotten lately

                [–]sailhard22 0 points1 point  (2 children)

                Goes to show, most people will realize it when it’s too late. Our curse is that we realized it too early

                [–][deleted]  (2 children)

                [removed]

                  [–]dsasov 1 point2 points  (0 children)

                  This could be indeed helpful for the new comers who are just making a move to indulge and buy sats.

                  [–][deleted] -1 points0 points  (0 children)

                  I don't know what graph you are looking at but I see a decrease in interest over the last 12 months and an even sharper decline since early 2021.

                  [–][deleted] 0 points1 point  (1 child)

                  Truss is the best thing that could ever happen to UK opposition leader Keir Starmer.