[2018-04-30] Bitcoin Is The New Flight Capital

[Karartma1]

Most people love gold. It is simply an emotional commodity where there is a deep-seated allure and lust. Gold used to be money and it was great money for its times. It was one of the few resistant, standardizable, rare things that was any good for storing value. In a primitive world gold is great as currency; its only drawback being its high value. That was where silver and copper stepped in and filled the gap. However, it wasn’t long before paper and credit took over from metals and a promise even when it hasn’t been as good as gold has ruled money as the main source of wealth and transaction far back into history.

Read more https://www.forbes.com/sites/investor/2018/04/30/bitcoin-is-the-new-flight-capital/

[Kprawn]

Is it just me or does the title of this article, not speak to the content of the article? The article goes on about Gold and not about Bitcoin or capital flight. The writers of these articles just think up a click bait topic and then add any content to fill the space?

I thought this would explain why Bitcoin is more effective for Capital Flight than other currencies or even Gold.  but it has nothing to do with that. 

[gentlemand]

Is it just me or does the title of this article, not speak to the content of the article? The article goes on about Gold and not about Bitcoin or capital flight. The writers of these articles just think up a click bait topic and then add any content to fill the space?

I thought this would explain why Bitcoin is more effective for Capital Flight than other currencies or even Gold.  but it has nothing to do with that. 

Indeed. Shite article. Also this is by a Forbes 'contributor' which I think means any old nutter.

Bitcoin's safe haven status will be properly put to the test some day possibly soon. I'm pretty damned confident it's going to fail miserably too. It's far too early for that.

[richardsNY]

Bitcoin's safe haven status will be properly put to the test some day possibly soon. I'm pretty damned confident it's going to fail miserably too. It's far too early for that.

In what way will it exactly fail miserably?

If we look at the past, which of course isn't a guarantee for the future, but just based on the past, it has been an outstanding safe haven for those in need of it, and that in every possible aspect. It's pretty unique on its own and unseen in the traditional market. On top of that, the term safe haven can mean anything in reality, which all depends on people's preferences and use cases. Maybe you're referring to regulations making things more difficult than before?

[gentlemand]

In what way will it exactly fail miserably?

It's a speculative toy born and developed during an epic general bull market. If people get properly squeezed it's going to be the first thing to go. You don't preserve your most insane bet when the children go starving. The majority don't understand what it is, all they're waiting for is someone else to sell it to for more. That someone else is not going to be there if everything's vapourising. The only buyers will be the real long termers who can wait for years.

It will gain that status some day but I think it's a decade or many more away yet.