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Topic: Can Bitcoin become a safe haven for corona virus economic impact? - page 2. (Read 401 times)

hero member
Activity: 2702
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It is not actually possible to lock down any of the countries who are infected with such virus. I can only imagine of a lock down if more harmful virus like a zombie virus or something gets viral. Though it is not possible. WHO has appointed a group of experts to find a antidote for this corona virus but until now, they are not successful to find such antidote.

There is huge money associated with bitcoins or cryptocurrencies so I think that this huge capital should be used for the betterment of the nations. There also are a number of medical science projects which also have some most advanced gadgets which can be used to prepare a antidote for such virus. It might be the time where WHO can collaborate with such huge projects and find a cure for corona virus.
A few countries have provided a lockdown though afaik. If airports of lockdown though, then I haven't heard about em BUT lockdowns of towns and hotels/etc. are being done in a few parts of every country already. It's actually kind of like a zombie virus, just that it spreads more peacefully ( if compared to biting humans) and in a more invisible way. Tbh, it's a lot easier to quarantine a zombie virus (if its possible) because the effects are visibly public. Unlike how corona is, where it has a stealth feature (somehow like that)
legendary
Activity: 2884
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The virus is continuously spreading around the world and many people today are going to migrate just to avoid the spreading of this virus some of the people came from different country that is affected by this virus are connected into the world of cryptocurrency or the bitcoin and some of them are pulling out their money or funds just to transfer into different places, that kind of action is quite disturbing with the use of bitcoin too because we are affected now by the economic price of this kind of problem, still the other country today and the world of health organization or the who are now making a cure to the virus but still it is better if the different country today is going to lock down those cities that are affected on it to make sure that the virus will not be spreading.
It is not actually possible to lock down any of the countries who are infected with such virus. I can only imagine of a lock down if more harmful virus like a zombie virus or something gets viral. Though it is not possible. WHO has appointed a group of experts to find a antidote for this corona virus but until now, they are not successful to find such antidote.

There is huge money associated with bitcoins or cryptocurrencies so I think that this huge capital should be used for the betterment of the nations. There also are a number of medical science projects which also have some most advanced gadgets which can be used to prepare a antidote for such virus. It might be the time where WHO can collaborate with such huge projects and find a cure for corona virus.
legendary
Activity: 3248
Merit: 1402
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At the moment BTC is holding its ground and I believe if things get really bad with corona virus BTC has a real chance for mass adoption. If corona virus gets really bad there will be leave without pay, global recession etc!

Dont be affected so much with the virus. Yes Indeed, bitcoin is still a safe haven in spite of those fud that are going around with it. Everyone should be stay calm and dont use the panic button for selling your asset as this will only add negative effect on its price.

Global recession might be happened but as long every government can contained the situation this will be prevented. Dont put much stress on this stuff.
Well, while coronavirus is overhyped as a topic, it truly has a huge impact on the traditional economy. There're multiple articles on this topic, but here's one:https://www.weforum.org/agenda/2020/02/coronavirus-economic-effects-global-economy-trade-travel/. In some areas the impact is already quite heavy, and it's not likely to get better in the foreseeable future. Not to mention that the global economic crisis is also something that's expected to happen quite soon, so maybe the coronavirus itself is not a big challenge from economic perspective, but it can trigger something bigger. Maybe it already has: https://www.wsj.com/articles/more-markets-head-toward-correction-territory-as-coronavirus-spooks-investors-11582864550.
So anyway, I believe that Bitcoin might go down along with everything else initially, but it is bound to go up as something that is not directly affected neither by hyperinflation (the fiat problem) nor by the coronavirus.
legendary
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First time that the cryptoscene encounters a situation like this, so not surprised a lot of questions are filling up around it. Safe haven? Possibly. Stocks are falling around the globe because companies have seen a fall towards the production process of their companies, and the financial situation of companies are currently varying with many postponements done and many factories being unable to produce what they normally do because of letting workers go home to prevent the spread of virus.

There are still a few factors here and there, but BTC has a chance, just a chance though. There's a possibility that BTC is actually affected as well, just that it isn't really seen as much.
hero member
Activity: 1274
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At the moment BTC is holding its ground and I believe if things get really bad with corona virus BTC has a real chance for mass adoption. If corona virus gets really bad there will be leave without pay, global recession etc!

Bitcoin can be an alternative to fiat just in case people are worried about economic downfall during the virus spread. The spread is starting to create fear around the world since the number of people affected by the virus and death toll increase as time pass by, which is slowly affecting world economy. I've read that some aviation company had less flight, and had to put some of their employees on leave due to travel ban in some countries. This will affect major businesses as well as tourism in some country which I think has a major impact in economy. Another article was shared in our local thread that Iran is using less of their bank notes since it can be a major virus courrier which I think is true. This can push people to use alternative payment method such as cryptocurrency or online payment methods.
full member
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At the moment BTC is holding its ground and I believe if things get really bad with corona virus BTC has a real chance for mass adoption. If corona virus gets really bad there will be leave without pay, global recession etc!
That's right i'm pretty sure that bitcoin could be one of the best safe heaven to cure the effect of the coronavirus to the country's economic growth especially that the impact of the coronavirus that has been occurring right now will become more outrageous. Maybe bitcoin is one of the key to lessen the bad impact of the coronavirus to the economic growth of one's country and also i'm pretty sure that there would be a massive adaptation of bitcoin due that many people assuming that it is the safe haven of the virus negative economic impact.

The virus is continuously spreading around the world and many people today are going to migrate just to avoid the spreading of this virus some of the people came from different country that is affected by this virus are connected into the world of cryptocurrency or the bitcoin and some of them are pulling out their money or funds just to transfer into different places, that kind of action is quite disturbing with the use of bitcoin too because we are affected now by the economic price of this kind of problem, still the other country today and the world of health organization or the who are now making a cure to the virus but still it is better if the different country today is going to lock down those cities that are affected on it to make sure that the virus will not be spreading.
sr. member
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At the moment BTC is holding its ground and I believe if things get really bad with corona virus BTC has a real chance for mass adoption. If corona virus gets really bad there will be leave without pay, global recession etc!
That's right i'm pretty sure that bitcoin could be one of the best safe heaven to cure the effect of the coronavirus to the country's economic growth especially that the impact of the coronavirus that has been occurring right now will become more outrageous. Maybe bitcoin is one of the key to lessen the bad impact of the coronavirus to the economic growth of one's country and also i'm pretty sure that there would be a massive adaptation of bitcoin due that many people assuming that it is the safe haven of the virus negative economic impact.
hero member
Activity: 1722
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At the moment BTC is holding its ground and I believe if things get really bad with corona virus BTC has a real chance for mass adoption. If corona virus gets really bad there will be leave without pay, global recession etc!

I don't think it would be that way.

China is known for its mobile transactions and it is one of those countries that is widely using mobile payment method. The market of China is so big and a lot of payment system is accepted. Corona Virus is mutating, which means it is really getting worst. The problem still surrounds how will the citizens of China maintain their living there with minimal stocks of food and other essentials there.
hero member
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At the moment BTC is holding its ground and I believe if things get really bad with corona virus BTC has a real chance for mass adoption. If corona virus gets really bad there will be leave without pay, global recession etc!

I do not understand on what sense do you think Bitcoin has a real chance for mass adoption? Bitcoins value is fueled by Fiat. If economic growth gets hampered due to the virus then it will also affect the crypto market.
hero member
Activity: 2520
Merit: 783
At the moment BTC is holding its ground and I believe if things get really bad with corona virus BTC has a real chance for mass adoption. If corona virus gets really bad there will be leave without pay, global recession etc!

Yeah it could be an option for people who know about the fundamentals and the risk on  bitcoins but for new I don't think its a best option since they might get panic if  they see the price moves especially if goes down, That's why I always though that maybe majority of people  will go for gold if there's a global recession happens but hopefully we will not come unto that point since the scenario is very scary.
legendary
Activity: 2394
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For me, I can't see much affect on bitcoin due to Corona virus. Currently China is the one who affect massively and their economic conditions isn't so good. If they can't prevent it slowly their economy system will collapse and as a result it would effect on global economy. When global economy will start collapse then we will see its effect on bitcoin as well. Bitcoin become a part of global economy, so adoption depend of global economies. In my opinion if we can't prevent Corona virus and in case it spread all over world like China then we might see bitcoin price collapse due global economy.
full member
Activity: 1232
Merit: 186
Yes! Bitcoin is ahmm let's say a better option for making transactions especially that there is a virus outbreak but the question is until when? Until the corona virus exists? If that's the case then it won't have a significant move through our mass adoption because everyone will get out soon. For me this dream of ours do not depend on whatever scenario we are facing, it depends on the willingness of each and everyone. If all of us really like the concept of cashless society then all of us will make ways despite of any hindrances Smiley.
sr. member
Activity: 1498
Merit: 326
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At the moment BTC is holding its ground and I believe if things get really bad with corona virus BTC has a real chance for mass adoption. If corona virus gets really bad there will be leave without pay, global recession etc!

Dont be affected so much with the virus. Yes Indeed, bitcoin is still a safe haven in spite of those fud that are going around with it. Everyone should be stay calm and dont use the panic button for selling your asset as this will only add negative effect on its price.

Global recession might be happened but as long every government can contained the situation this will be prevented. Dont put much stress on this stuff.
jr. member
Activity: 294
Merit: 3
At the moment BTC is holding its ground and I believe if things get really bad with corona virus BTC has a real chance for mass adoption. If corona virus gets really bad there will be leave without pay, global recession etc!
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