Bitcoin, considered a digital store of value with limited supply, has seen its fair share of gold over the years. In line with this trend, it offers a sailing competition called the Liberty Bitcoin Cup bitcoin (BTC) as a competition prize instead of a gold trophy.
“The Liberty Bitcoin Cup is the main trophy for a new generation of world-class sailors competing for a new generation of sailboats with High Tech Class technology.” he says web Liberty Bitcoin Cup. “Where traditionally Gold Cups have been the premier cups in traditional shipping, this new generation is now powered by a new generation of gold – bitcoin.”
Foil sailing basically uses new technologies and design, according to to an article in the 2017 Wall Street Journal. Foil boats use a design in which the boat maneuvers to some extent above the water surface, thus reducing friction and increasing the speed potential.
The Liberty Bitcoin Cup hopes to lower the entry barrier for young people interested in film sailing competitions, his website explains. This year’s competitors must be in the year of birth from January 1, 1996 to February 15, 2003. “Teams are made up of 3 or 4 mixed-sex crew members and will race with both sexes or all the women on board,” the website says.
Including the final, the cup consists of four events and pays the winner 1 BTC depending on the location.
Over the years, people in the crypto industry have often compared and compared gold and bitcoins. Gold shares some similarities between the use case and bitcoin, such as bitcoin role as a store of value, and has been considered valuable for millennia. Bitcoin, which came on the scene in 2009, does not have such a long history, but it has received a remarkable adoption over the last year, because allocation of the company to the asset have become more common.