Topic: Bitcoin and COVID - page 2. (Read 1392 times)

Also looking at the way the btc has crossed 10k levels some times back will make people to switch from their other investment to make it into btc and thus due to which demand will also increase . Also market is back trading at 9700$ so good time to continue buying in bitcoin .

It is the acceptance that counts and would make bitcoins and other cryptos be more valuable. Banks have their own ways to make cashless transactions. Cryptos will always have that cons regarding the transactions and volatility, patrionizing it will not assure faster transactions and accompanied by higher fees.
Banks on the other hand are still as flexible and secured nowadays since it is more accepted in the society.
As long as cryptos are not yet supported and developed fully, it still has a long journey.

High tx fees and slow transactions are just a normal reaction when one of essential part of blockchain can't accommodate the massive work load in the network, like the massive transactions in the mempool.
Though, there's no denying that this has been the problem for years.
During this time of pandemic, Bitcoin isn't the only option for cashless transactions, because banks also has cc and debits, and other digital currency. But, Bitcoin could be one of the best investment during the economic recession.

I think this point is a good reason that bitcoin is still sailing for now otherwise, the economic lockdown is one big challenge for investment because of no physical buying and selling as much and people are then looking to invest online.

What do you mean by that? Are you thinking about paying without a cash in hand?


Sorry, but you are wrong. Bitcoin has been affected by the virus, just in a simple way - price decrease. On the other hand, investments into blockchain startups might be in lower amounts, just because of lower equity in VC funds.

I think the price of bitcoin will continue to rise though. Cause with this pandemic and certain informations circulating that the virus can be spread through fiat currency. Well digital currency might be the way out.

This brought good side effects especially to those people who are into cashless transactions using bitcoin or any crypto available especially covid-19 is always a threat no matter what and it urge everyone to stay at home at all cost. Covid did harm crypto industry especially to bitcoin that everyone started to panic sell and literally the price of bitcoin got dumped hard but everything was a good disguise for bitcoin to be the first option of sending money without going outside. This pandemic may have negative effects but it didn't stop people to make profit out of bitcoin.

Bitcoin adaptation is still in progress and actually its been running for more than 10 years now and we can see the good response of the people around the world.though this is not faster than Paypal(because of Bitcoin Volatility) at least we can find a safer investment for long term and not just for daily profiting.
It is most important is the Volume of people that vested in this market because eventually in a matter of time and they found out that this is profitable,for sure they will Put their money inside and may add amount in future,what we need is for the whole world to acknowledge this market at the same time currency.

$10,000 is a big barrier and I don't think that because people are just sitting in their home with their machine and see bitcoin pop up when do search, we will see the price going to 5 digits again, it will not be the case. Lock downs around the world are easing already, so if your argument is true, then we will not see bitcoin at five digits? What we need is more people understanding the true nature of Bitcoin and how they will used it, Store of Value, investments or for trading to make more money.

I also think that cryptocurrencies as a whole have relatively good times. Maybe we are still far from 2017, but Bitcoin is calm, despite all the horrors that take place in traditional markets. I hope that people understand the possibilities of digital currency.

I am sure bitcoin adaptation still running although we don't know how many people who already join in bitcoin world in this pandemic because many people stay at their home. But I believe that people browse the internet while at home so they can know what bitcoin is, and they can try to buy and use bitcoin as the investment. Meanwhile, bitcoin price will back to $10k again, and we still have much time to wait for that price, so there is no need to worry.

like for example what  ? i dont think btc can help us in many ways but maybe few only  .  like transacting wirelessly and it can act as a sideline business during these times were real business were temporary shutdown  .

if btc is the solution to recover then why not people invest on it but nah they arent  . many people still dont know the benefits behind btc but i also dont think it can easily revive a broken economy   . btc is too small for that  .

when you invest , there were risk too so it can realy solve your financial issues but it can also make it worst   . just saying

Bitcoin will help us in many ways to deal with the current epidemic situation  If many countries are suffering from economic problems due to Covid-19, then if we invest in Bitcoin, it will help the country's economy to improve very quickly and the speed of transactions will increase. Bitcoin has not been affected by the virus so investing in Bitcoin is a great opportunity to overcome financial problems.

Today with have many problems into the world of transactions many companies stop for a mean time having an export and import of their products which is not a good thing to do because some of the stocks and supplies from the different part of the community will be limited immediately because many people are consuming those a lot and some of the payment today is not going into physical money we all know that the physical money is consist a lot of dirt came from the places and hands from its previous users so one of the good thing we should adopt is with the use of the bitcoin or online payment, today there are limited person only knows the use of the bitcoin but some of them just know the use of the online payment or process like the paypal which is the same with the bitcoin and some of the stores over the world are already accepting the use of it which is a good sign for innovation and fastest transactions one thing that is good too in using the bitcoin for payment is the transpenrancy the users see the process and the transactions happen to identify if there is an interruption happening. I think the bitcoin will be the safe haven to the investors too because they can make huge savings on there it does not affect the fiat at the stock market because the bitcoin has still its own value if we are looking at on it.

With the spread of the corona virus that has continued until now, it should make the price of bitcoin rise dramatically. Because bitcoin can be
an alternative payment in a situation like now, where financial transactions must be done digitally. In order to prevent physical contact, and
payment by bitcoin is one of the best solutions. Bitcoin is also very good as safe haven, so some people have started collecting bitcoin from
now on.

when the covid 19 outbreak occurred I think with digital currencies such as bitcoin can be a place to make money transfers because with the presence of bitcoin can conduct transactions between countries with speed and ease when using bitcoin technology, when raising funds for their assistance the victims of covid 19 which is currently in the quarantine process at the hospital, the process will be faster.

People mostly use a fiat cashless payment system today via online payment. That's the most used now so in this method, fiat transfers already beat bitcoin transaction plus the fact that it only needs seconds to be processed and done.

There are also only a few stores and merchants accepting bitcoin so for many people around the world, bitcoin will not be considered in a time like this.

With Covid-19 happened or not, we really need more adoption for us to see bitcoin taking the spotlight in the payment system. Just imagine we have bitcoin today, can't leave our house, but yet can't use it to buy foods or essentials.

As if bitcoin and crypto was only the digital money, kindly understand that we have a lot of digital payments bigger than bitcoin, and they are still faster compared to bitcoin and cheap as well. If we are using bitcoin for our daily transaction, how would it be possible when it needs minutes to transact, for now, I can't be too confident with that, and also, don't forget the volatility, people does not want that as they are afraid of taking risk.

Bitcoin is only good if all are using crypto, since if we use bitcoin, we still go with fiat to buy bitcoin and vice versa if we want to convert since most of our needs like for food, services, and etc cannot be fulfilled using bitcoin to purchase these. you know, the world is still reliant on fiat and that might stay forever.

Obviously, credit/debit card still the number one used as far as online and contactless payment. No where can bitcoin surpasses it at this crisis, we are still in the minority. But with a lot of uncertainties because of the pandemic, and with crypto slowly maturing, there could be a chance that bitcoin will slowly be adopted in this outbreak, it could be another alternative. Be it as store of value against physical gold as people are looking for other means. Of course, there is the scaling issue, as you can see there's a lot of threads lately complaining about how much expensive the fee is, but I believed this will normalise and we can again use bitcoin will less than $1 which could attract more people to use it online.

I won't just speak about Bitcoins but it's Crypto and CoVID we need to talk over.
I believe Cryptocurrencies have already proven their worth as a safe haven even in this worst pandemic situation because BTC already gained back $10k again after falling to $3800 where other major stocks and shares have declined so badly in numbers. Even alt season has come now where daily, few coins are showing some good moves by getting up at least 50% and some even going above 5-6x.