Topic: Bitcoin and COVID - page 3. (Read 1363 times)

Even i would dream for a day when there is a global adoption but for that to happen we need better scaling solutions so that everyone could send and receive bitcoin at a very low transaction fees. When i started bitcoin the motto was transfer any amount of money for basically zero transaction fees and it was awesome during that period but a few years down the road things changed as more people started adopting bitcoin and the network limitations will not help us in this situation.

May be in the next ten years we might see a global adoption with a much better scaling solution.

Your situation is a good example how crypto is influencing your life during this pandemic and I can say that earning via sig campaign is also a big help for me just like you do. And because of this pandemic , many people are finding themselves in front of their computer at home looking for options on how to earn money. And more than likely, they have encountered bitcoin along this journey owed to the media coverage regarding the halving that took place. Some will be interested on further checking out crypto while others will just it let go. However, those that got their interest on crypto, some of them will be crypto users later on because they will find some of the benefits that they can derive from the usage of it, thus, increasing the number of crypto users in the process.

Usually, when people write that Bitcoin will be some kind of breakthrough that can help us in a pandemic, I immediately have a logical question, why not, plastic cards will help us in this? They can also easily pay for something without leaving home, what is better than Bitcoin in this situation?

Bitcoin has gained more advantage today because of this pandemic outbreak wherein cashless paymemt is more encouraged rather than paying with fiat which will cause rapid spread of corona virus. I think this is a good moment for bitcoin to be known to all the people about the benefits of bitcoin. Bitcoin may be a safe haven for today's world phenomenon but having it as a world currency may cause more doubt as the world is not yet ready for it.

this pandemic happens before the Bitcoin halving. Actually, the price of BTC keeps increasing because of the hype of Bitcoin halving. However, some moments ago before halving, the pandemic really destroy the global economy. It influences all sectors of life, not only the health sector but also the financial and economy globally. This also influences the crypto world, especially the market price of every crypto, mainly the Bitcoin.

Actually, during this COVID-19, many industries are started to adopt Blockchain technology and it becomes a good way for cryptocurrency as one of the ways to stop spreading the virus because we do not need to touch each other. And what happens to BTC, the price is still volatile, the fee is high because of halving, and the price sometimes keeps increasing. We cannot determine if this is influenced only by COVID-19 but also by the hype of BTC halving. For, everybody expects to meet the high price of BTC in some months following.

Here for me, I am no longer working in a certain industry because of this pandemic. therefore, I only focus on doing jobs in the crypto world.
When participating in the signature campaign with BTC paid, this is likely heaven for me because it can really help us to survive int his pandemic.

In brief, COVID-19 really give big impacts to the world, including Bitcoin.

The major advantages I see in using bitcoin as a means of payment which other payment methods don't have is that the transaction cannot be traced and you enjoy a very fast delivery of your fund with a very low transaction fees and a store of values for one's funds.
The issue of not touching dirty money may not be so particular to bitcoin as most people make transfer of funds using their bank app without going to banks just like using bitcoin.

You can't really tell. The price of bitcoin has been going down recently, but I think that's because of the Halving that took place recently , and we don't know for how long it's going to be. A lot of miners are no longer into their business of mining because they can no longer afford their mining cost or maybe they have a weaker mining that cannot continue mining cryptocurrency.

Bitcoin and other cryptocurrencies were already recovering from the impact of coronavirus, now is halving and I don't know how long this one is going to be. I hope the comes to an end soon, and the price can go back up.

Yes, exactly.

As above. Contactless and mobile for purchases where you have to physically be there, for everything else you can still use your bank card online (or Paypal or similar). This isn't specifically a time to be using bitcoin, it's simply a time not to be using paper and metal money.

Bitcoin has the potential to be a safe haven. At the moment though we are some way from that point; the volatility in particular make it more of a highly speculative asset. I do think it will become a safe haven eventually, just not for some years yet.

Yes, not all people can access and have an access to the internet that's why in some point, this will not become effective enough. Most especially, there are people who are ignorant about technology so that they can't relate on how fast our technology is advancing. That's not only the thing that we need to focus on, we also need to prioritize ourselves so that when we promote bitcoin, the effect of it will reflect on ourselves.


Digital currencies are really effective most especially that there are a lot of fiat currency that can probably infected by this virus. We all know that people are really anxious about the virus and this cryptocurrency are the answer to your prayers. It is safe and faster than fiat when it comes to a payment for transactions.

I just find this to be ridiculous. When the economy has a bunch of people fleeing the market, who will push the price of bitcoin up? People are constantly deluded by the power of bitcoin about how prices will always rise no matter what event. But when Covid 19 broke out, the price of bitcoin dropped more than 70% in just 2 days. That example shows that no one is stupid to buy bitcoins when the economy is badly hurt. Be realistic, that's the way you survive in this crypto market.

Bitcoin and covid always have different way how to make the connected but now look the same problem when covid 19 make trash of economic world crisis get impact with bitcoin, many investors have sold their assets because corona impact and try left for investing with bitcoin and altcoin right now.

Fees and slow network are also a big problem for bitcoin. I run a full node and it takes around five minutes just to start the software.
For this reason, I have been buying ethereum and monero recently. Their transactions are much faster. It takes one second for transactions with these currencies, whereas with bitcoin it takes up to one hour for the first confirmation, even with the highest fee.

I believe bitcoin adoption still running, and it has good progress, especially we are still at homes, so that makes people have their free time to browse on the internet. Maybe some of them are searching for the information about bitcoin so that can give them enlighten to invest in bitcoin, and that can increase the number of people who use bitcoin and altcoin. I am sure that bitcoin user will increase day by day, and we will see most people in all country will know and use bitcoin too.

high fees and slow networks is not a glitch but its a normal occurence here in bitcoin world  . you think the fee can be higher than usual because of halving but cant notice it  . what i see is still the same fee but fees can speed up or slow down the transaction   .

 other than that you are right that btc is still convinient due to so many reasons  . i wont mention it because for sure people already knew that and i explained it many times before  .

Before they can even think of Bitcoin as a "contactless" means of payment I know for a fact that we are far away from being used as a payment just because of this pandemic, why? Already now payment processing companies like Visa, Paypal, Mastercard, or Venmo are the preferred options for having a contactless payment the reason why is they are also taking the initiative with the government that they can reduce the risk of people transmitting the virus because their payment system is done digitally. Aside from that there are already modes of payment that is widely accepted already so I don't think that the world is looking for a solution right now since it is already here for them.

You're wrong about this, man. Unfortunately, many people still view cryptocurrencies as a means of making money. The way to change this is through the adaptation of cryptos as you said. But I don't think it's an easy thing. Perhaps it will take years for this to happen.

I think we should agree on the subject. While there are so many uncontrolled crypto assets on the market, we cannot talk about full adaptation. Today there are about 6000 different cryptocurrencies. Do you think it is possible that all of these are available and continue to live? I have no chance. A few (maybe tens but not more) of really functional and high quality are enough for us.

Due to the unreasonable, tyrannical lockdowns done by evil governments around the world, using a cold as an excuse, many people are losing trust in the established institutions, which might prompt them to buy crypto, to safeguard their assets.

However, much more people dont have any asset to safeguard, and lives from paycheck to paycheck. As such, I dont think this will have a big impact on the price. For now, I have only seem the usual whale manipulation due to the halving. The hype is now cooling, which might resume the permanent, derivatives-driven, bear market. Right now I see the price going to the 5-6k range.

More and more people stop trusting their governments with their money, well, beside with bonds maybe. Also, people start to question the demeanor of their leaders in this crisis. The more the mistrust in the established system grows the higher the chance that people search for alternatives. Today, they start to question the measurements of the government regarding covid but what are they gonna do wrong tomorrow we might need to question? The only real issue of a crypto overturn is the global acceptance rate and the lack of real life use cases in easy to use apps when it comes to tokens outside the Bitcoin ecosystem

I don't like to put bitcoin and covid in the same sentence. Why would we do that?! Yes we can find some positive effects, but do we really need to do that?! You think that crypto needs some bad virus for making progress?! We would make progress without it. I agree that this crisis can speed up that process, for numerous reasons, but we should not celebrate for that, it's stupid to celebrate for some positive effects made on misery of others!
Bitcoin is bitcoin, crypto is good for many reasons, not just because it's cashless and you can't get covid if you use crypto! Crypto has many more advantages, far more important that this!

I can see so many glitches if ever people tend to adopt and use bitcoin for online transactions. -fees (higher than usual) and slow transactions are one of the problems of it.
 
 On the other hand, the conveniency is present in times like this of pandemic situation but there are still things that we need that can not be provided by onlinr websites.