Digital Gold

in #brainfeed5 years ago

As stock markets are under pressure, the growth of crypto continues.
In the past whenever stocks go down the money flows to gold as a safe haven.

The downside to gold is that it is difficult to spend.
It must be 'cashed in' and turned back into fiat before merchants will accept it.
It is also very difficult to shop on line with gold.

All of these issues can be countered with a digital crypto 'gold'
At this point, and until a new gold backed crypto is mainstream BTC serves that role.

What this means is that if/when the stock market crashes, the money will flow to not just gold, but the digital equivalent, BTC.

https://cryptodaily.co.uk/2019/01/bitcoin-finally-catches-up-with-gold-after-following-it-for-years

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