Quote from: worldofcoins on October 17, 2022, 09:44:55 AM

Quote from: Majestic-milf on September 30, 2022, 03:23:09 AM

With inflation hitting the UK and causing financial unrest, some experts look to Bitcoin as they feel it could make a positive impact on their some what unstable economy..
According to data shared by James Butterfill, head of digital assets at Coinshares, shows that trade volume with Bitcoin as against the British pound climbed to a high of $881m as of Monday, 26th Sept.!

Meanwhile, the average trade volume between BTC/GBP on a daily is about $70m, invariably meaning an increase compared to the standard of 1,160%.

With the rate at which the GBP tends to experience volatility, it would only be wise to look at other means. Like becoming a Bitcoin hub for instance, since adopting it will seem a bit of a stretch, Gabor Gubarcs tweet summarized.
Furthermore, this decline in finance in the UK seemed to have become noticed since the introduction of Prime Minister, Liz Truss' fiscal policies, an analysis proved.

Yes, it increased. The current inflation rate in the UK (as compared to the rest of the world) is very high.
This has changed many people's trend to start investing in the Bitcoin market.
Also, another critical factor is the dramatic fall in the value of the British pound against the USD. I think this can cause a massive volume shoot-up in the bitcoin trade.

UK pound needs to have a higher interest rate in order to fix this situation, Europe and UK do not feel the need to do that, they haven't increased it as much as FED did, which causes the inflation to not recover right now. Look at USA, they have recovered to a point already, not doing great but they are doing fine enough compared to Europe.

Because they increased it a lot, as far as I can remember it has reached 2x higher interest rate and will go up even more soon, because that’s the solution. As long as UK keeps going with their horrible financial planning and the whole "let the market fix itself" approach, it will keep on going worse.