• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Breaking News: Breaking: DCG And Genesis Close Initial Agreement With Creditors
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: DCG And Genesis Close Initial Agreement With Creditors
Gold Litecoin's Charlie Lee: Buy At Least 1 Bitcoin... Before Litecoin
Advertisement

Bitcoin Beats Gold as New Flight Capital

Adam James by Adam James
5 years ago
in News, Bitcoin, Bitcoin Investment, News teaser
0
Advertisement

The Bitcoin-versus-gold debate is certainly nothing new, but there’s one aspect in which the gold standard of cryptocurrency beats out the gold standard of historical currency hands down.


Bitcoin Beats Gold

In the battle between Bitcoin and gold, the former certainly comes out the winner in a variety of categories.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

As noted by Forbes, gold doesn’t function well as currency, is insecure, experiences price volatility not too far removed from digital assets, and cannot easily be digitized. Meanwhile, Bitcoin is steadily moving towards mainstream adoption as a viable currency, is highly secure, and allows for cross-border transfers of value in a matter of hours at most. Furthermore, mining real gold uses a tremendous amount of energy and has an environmental impact vastly more significant than Bitcoin mining.

However, there’s one category in which Bitcoin trounces gold that has largely gone overlooked — it’s become the dominant form of flight capital.

Bitcoin versus gold

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

What Is Flight Capital?

Flight capital, generally speaking, is money transferred abroad to either avoid taxes and/or inflation or provide for possible emigration — particularly in times of war.

To put it simply, if the brown stuff hits the fan and you’ve got to pack up and move, it’s a lot easier to take your Bitcoin with you than it is to lug around a bag of gold. As noted by Clem Chambers, CEO of ADVFN.com and author of Be Rich, The Game in Wall Street and Trading Cryptocurrencies: A Beginner’s Guide:

When Little Rocket Man was wrestling Big Rocket Man, gold didn’t react, but Bitcoin went off the dial every night. You can’t head for the airport with gold bars these days, and opening a foreign bank account is a thankless task that can take months or never get done. A normal person sweating a war isn’t a billionaire with a private office, but in the old days they might have stashed a few thousand or even hundreds of thousands in gold if they thought the balloon was going up.

Today you’d stash it in Bitcoin and be safe in the knowledge that you could fly away on holiday somewhere safe for a few months and your stash would be as safe as the place your hid you private keys.

Bitcoin

Of course, nobody wants a war — but should one happen, cryptocurrency investors and early adopters will be the ones set to remain most secure in their wealth. Concludes Chambers:

Now Etherium, Bitcoin, Ripple, Litecoin and a myriad of crypto will get the attention that gold once enjoyed.

Its bad news for grumpy old men but good news for crypto-believers and a new trading opportunity for us.

What do you think about Bitcoin and other cryptocurrencies as the new form of flight capital? Do you think conflict and war only increase the demand for digital currencies and assets? Let us know in the comments below!


Images courtesy of Bitcoinist archives and Shutterstock.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Adam James

Adam James

Adam James lives in Budapest and is the Managing Editor of Bitcoinist.com. He digs Gibson guitars that sound like Tyrannosauruses, Romantic & Victorian poetry, Franco-era Spanish films, LPs, Chelsea FC, Bob Dylan, Pilot G2 10s, black coffee, video games, and cryptocurrency.

Related Posts

Bitcoin price

This Will Be Important For Bitcoin And Crypto This Week

10 hours ago
New record: 49% of Bitcoin Supply Has Not Changed Hands in 2 Years

New Record: Half Of Bitcoin Supply Hasn’t Changed Hands In 2 Years

1 day ago
Bitcoin Derivatives Markets Volumes Show Bullish Trend After 2022 Downturn

Bitcoin Derivatives Market Volumes Show Bullish Trend After 2022 Downturn

2 days ago
Bitcoin

Sri Lanka Central Bank Says Bitcoin Cannot Solve Economic Crisis

3 days ago
tulip mania bitcoin

Celebrating The Tulip Mania Anniversary With Bitcoin & Crypto

3 days ago
Bitcoin Long-Term Holders Now Hold 78% Of Supply, Highest Level Ever

Bitcoin Long-Term Holders Now Hold 78% Of Supply, Highest Level Ever

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • MEMAG Presale Crosses $3 Million As Investors See Future...

    4 hours ago
  • Syscoin and SupraOracles Join Forces to Onboard the World...

    5 hours ago
  • Fantom (FTM) and GMX (GMX) Price Goes On A Free Fall, While...

    6 hours ago
  • Snowfall Protocol (SNW) Success In Presale While Crypto...

    8 hours ago
  • Threshold (T) and Chia (XCH) Make Reasonable Gains As...

    10 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.