Bitcoin was ‘Good as Gold’ in the Brexit

With the Brexit being the worst one-day global financial crash since the Lehman Brothers bankruptcy in 2008, Bitcoin gained a tremendous amount of credibility as a safe haven asset that is “good as gold.”

Supporters have claimed that Bitcoin and other cryptocurrencies are the ideal protection from the destructive policies of central banks and their “fiat” currencies. They highlight that when the US Federal Reserve was founded by an Act of Congress in 1913, the official price of an ounce of gold was $20.64.

An ounce of gold today sells for $1,333.50. That 6,470 percent increase in the price of gold means that the value of the U.S. dollar versus gold has fallen by about 97 percent in the last 103 years.

According to Ned Scott, CEO of Steemit, a social media platform for the Steem cryptocurrency: “Centralized, debt-based economies and their currencies come with risks, such as bail-ins and bail-outs that digital currencies protect consumers from.”

In the hugely well-funded campaign by the UK government, both major political party leaderships, and groups such as George Soros’ Open Society Institute, UK voters were told they would be stupid rubes to give up $82 billion of intangible “lifestyle” EU benefits for the $46.6

Read more ... source: TheBitcoinNews

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