author: william   16 May 2018Print page

The online bookmakers offer bets for the date that the Bitcoin will overcome the British Pound Sterling after the Brexit.

The online bookmakers offer bets for the date that the Bitcoin will overcome the British Pound SterlOne of the most important political and economical shifts in the last few decades will be the Brexit, which was voted for by the majority of the British people that wanted to leave the European Union. The change will happen very soon and because of that many people wonder about the future of the British currency - the Pound Sterling. Among those people, are obviously also the online bookmaker, who offer bets for the date that the British currency will be less popular than the Bitcoin cryptocurrency. 

Is Bitcoin growing strong, or the other way around?
The Bitcoin and overall, all the cryptocurrencies and the technology behind them - the blockchain, are one of the hottest and most discussed topics in the last few years. Despite huge growth of the price of Bitcoin since its introduction, some experts are still not convinced about the long-term success of the cryptocurrencies. Some economists or payment systems specialists claim that it is not the question of “if” but rather of “when” the cryptocurrencies will dominate the whole wide world. For instance, the Twitter owner, Jack Dorsey, in the interview for The Time magazine said that, before the 2030, the importance and the position of the Bitcoin will be so strong, that it will be the most powerful and probably the only global currency around.   
From the other hand, others, such as billionaire founder of Microsoft, Bill Gates, think that both bitcoin and the blockchain technology are not without flaws and even though the latter can be changed and modified, he does not think that they will be present in the future of human civilization or at least be much of a success. He gives the example of the threat of using Bitcoin or other cryptocurrencies in trade of drugs, guns or even humans. What is more, he is also afraid that Bitcoin can help finance the terrorist organisations as well as make it more easy for people to access dark web and many illegal things.

Will Bitcoin replace the pound in the United Kingdom?     

Whichever opinion and predictions are true, it does not matter for now, as Bitcoin, despite few setbacks, is still growing strong and is worth much more than anyone expected. The real question is, when the cryptocurrencies and the Bitcoin will start having major impact on the global economy and politics. Nobody knows that, but one thing is certain, it might influence the world big time sooner than we think.   

It may be connected to the Brexit, which is the official departing of the United Kingdom from the ranks of the European Union which was voted in a public referendum some time ago. How long will take this process? The deadline is set for 31 December 2020. Before that day, both parties have to finish all the impending processes and make a smooth transition, both politically, economically and structurally, as the European Union will lose of if its most important members.   

The online bookmakers would not be themselves if they did not prepared several novelty bet for this occasion, which is a perfect opportunity to make some easy money. One of the most popular bets is “Will Pound Sterling be replaced by the Bitcoin in the period of ten years since the Brexit?” 

Looking at the odds offered by the online betting operators, the option seem highly unlikely at the moment. But let us ask You a question: at the January the first of 2017, did anybody mentally healthy thought that the value of the Bitcoin after the next 365 days will grow by 1300%?!!! Furthermore, did anyone thought that the capitalization of this cryptocurrency will reach roughly about 250 billion dollars at the end of the year and will be worth more than PepsiCo Corporation or the McDonald's chain of restaurants?   
Even if there was few visioners or mad men (and as the news every day show, there were quite few of them), we will not hear from them soon, as they tend not to brag much about their fortunes made on the Bitcoin trade. They are either busy overseeing the construction of their new castle or they just both one of the island on the Maldives, Seychelles or Bora Bora. This is an excellent example that even the most ridiculous or improbable things can happen and make You very rich. Same goes for betting and in this case, You can join those two things and place Your money on the Bitcoin’s fate. Because who knows, will Bitcoin overcome the Pound Sterling before the 2030? It may be, as the old saying goes: Never say never!   

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