Well, if you’re a country that gets invaded by Russia, you can instantly transfer all your “gold” halfway around the world, depriving your enemies of the incentive to invade you to capture your wealth.
In a physical world, is gold more valuable than bitcoin? Well, if you let an untrustworthy person have access to your bitcoin, it’s easy for them to steal it or accidentally destroy it. A nuclear weapon won’t do much to the gold stored in a vault unless the weapon lands right on top of it, and nuking a gold reserve bank is probably not in any nation’s war game plan. There is a solution to this problem, however. Distribute your bitcoin to multiple offline safety deposit boxes, and only give individual people access to a small portion of it. In addition, you can easily hide and transport bitcoin: it can fit on a flash drive. Gold, not so much.
– Nate Cartwright
The views expressed in this blog post are not necessarily shared by those at our parent company. This post should not be construed as a recommendation to buy, sell, or trade anything, nor speculate on the fair market pricing of anything, including Bitcoin. Cryptocurrencies are inherently more risky than investments that have stood the test of time, and digital attacks against a digital good could potentially cause havok.