I agree if there is an opinion that the corona virus does have a bad effect on fiat currency. Because the government will continue
to print money, to recover the economy quickly. But the effect will make the fiat currency decrease in value, no wonder the stock
market finally crashed. But surprisingly the corona virus does not harm Bitcoin, even the Bitcoin price movement graph is getting up,
this proves that many people prefer to store their wealth in Bitcoin. Because right now not only individuals buy Bitcoin, but more and
more companies are deciding to buy Bitcoin. Because many people are in a pandemic situation like now think Bitcoin can be a store of
value.
Topic: Coronavirus is very harmful to fiat currencies, not bitcoin - page 4. (Read 1491 times)
Have you seen how governments responded to the corona virus?
Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.
I also think its pandemic will increase govt debt. Many people said crypto will not survive when COVID-19 strikes us. But we all know what happens later. The Crypto market gain momentum through DeFi hype and I think govt now will think about how they can use crypto in their own way. Many companies already invested in bitcoin we all know that. More are doing the same now.Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.
It is very clear that the pandemic has hit the economy of every country. So this economic rescue was carried out by providing large subsidies to the community. How can the government provide a lot of subsidies if the state revenue decreases, many companies suffer losses and even close, is it possible only from taxes. Surely what the government is doing by increasing debt or printing money. All of this had a clear impact on fiat money. On the other hand, everyone has started to worry about their assets. Amid economic uncertainty, people are defending themselves by saving their assets to Bitcoin. It is not unusual for Bitcoin to appreciate during Covid.
Have you seen how governments responded to the corona virus?
Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.
I also think its pandemic will increase govt debt. Many people said crypto will not survive when COVID-19 strikes us. But we all know what happens later. The Crypto market gain momentum through DeFi hype and I think govt now will think about how they can use crypto in their own way. Many companies already invested in bitcoin we all know that. More are doing the same now. Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.
Yes, fiat now had been not doing well and its purchasing power had depleted because people are more needing food rather than money. If the pandemic will going to continue then high chance that it can no longer be use and it will have no value no more. People will going to plant for their living if they wanted to get food to eat. Hopefully this will not going to happen because many people will get affected by it especially us the poor.
Have you seen how governments responded to the corona virus?
Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.
Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.
That is true because if the Corona Virus has a significant effect on Bitcoin, it would be noticeable on its value but nothing has change even the virus has spread. Bitcoin's value is only affected on the supply and demand on circulation and also the number of users taking interest on it might also affect its value. Fiat currencies would be affected because its used mostly in daily lives and it would also shut down some businesses that only transacts using fiat.
Have a look at the Bitcoin chart from March to April.
The price of Bitcoin experienced a decline when the first global lockdown started around the world.
When a recession occurs, people will not think about saving wealth, but how the wealth is spent to survive. This phenomenon has proven to have a major effect on the economy including bitcoin, even though it will not kill bitcoin itself.
Have you seen how governments responded to the corona virus?
Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.
The debt of every country is increasing because of pandemic. In my country, we have to loan in international bank because the government need to sustain the budget regarding to the calamity and pandemic matters. By that, experts said that my country will experience an economic depression because of the debt. Coronavirus really harm not only the health of every people but it makes a country poor and give a high debt. Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.
This corona virus is starting to collapse the economy of a country that has been affected of this virus because a lot of productivity has been stop and there are a lot of people are stating to hoarding since there are lock downs in their places. Fiat currency is a physical object , so it is possible that the virus could be pass on to another person, that is why there are countries who avoids accepting physical money for their own sake because you can't really say if that money has been touch or not by an infected person.
Its really obvious that corona virus is causing harm to the economy of a country because of it's lockdown which happened to prevent people not to come in contact with one another, it really affects businesses and resources of government revenue, see corona virus caused harm to human life especially entrepreneurs it flourished goods. Emphasising in it's contamination via Fiat currency, I don't think its possible because many people would have been contacted or affected through the virus, so such country who are agitating via passing the virus through money should look for the remedy to eliminate the virus because fiat currency can't transmit such disease. Have you seen how governments responded to the corona virus?
Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.
Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.
That is true because if the Corona Virus has a significant effect on Bitcoin, it would be noticeable on its value but nothing has change even the virus has spread. Bitcoin's value is only affected on the supply and demand on circulation and also the number of users taking interest on it might also affect its value. Fiat currencies would be affected because its used mostly in daily lives and it would also shut down some businesses that only transacts using fiat.
Covid-19 have no doubt negatively impacted the fiat currency from the very beginning of this pandemic. It was very evident from based on the movement of the stock market, which as you know crashed. Many investors had withdrawn and sold their holdings because of the fear that fiat would really go down quickly.
However, the fiat currency is now slowly recovering from the pandemic’s effect. It’s slowly building its value again as it increase little by little in percentage. Meanwhile, the effect of pandemic on bitcoin is not much noticeable, but it has its minimal impact to it as well. We can’t really say that our community is “pandemic proof” because the crypto users and traders are affected too, hence can make a slight impact too when it comes to buying and selling.
However, the fiat currency is now slowly recovering from the pandemic’s effect. It’s slowly building its value again as it increase little by little in percentage. Meanwhile, the effect of pandemic on bitcoin is not much noticeable, but it has its minimal impact to it as well. We can’t really say that our community is “pandemic proof” because the crypto users and traders are affected too, hence can make a slight impact too when it comes to buying and selling.
This show bitcoin still remain the king of all currencies during this pandemic that really make some currency devalue in the country. Many government are now rushing to make sure more money is printed to enable them fix their economy back to the country.
Since covid-19 take place bitcoin never devalue, it keep maintaining it value in the market that is making other fiat money investors wondering how powerful this decentralized currency, it is in the market through out the pandemic,that reduce other cryptocurrencies but it keep rising in the market.
Since covid-19 take place bitcoin never devalue, it keep maintaining it value in the market that is making other fiat money investors wondering how powerful this decentralized currency, it is in the market through out the pandemic,that reduce other cryptocurrencies but it keep rising in the market.
Bitcoin is a non-exist resource. It is improbable to pass the infection from one person to another.
Anyway, it might profoundly impact fiat since people can contact their monetary forms and embrace conceivable that the infection can go through to other people.
So it's better to utilize the digital forms of money and make an online installment by sitting home.
Covid can impact fiat; however, it has no connection with crypto, not even the Cost.
Anyway, it might profoundly impact fiat since people can contact their monetary forms and embrace conceivable that the infection can go through to other people.
So it's better to utilize the digital forms of money and make an online installment by sitting home.
Covid can impact fiat; however, it has no connection with crypto, not even the Cost.
Why the pandemic worsens the value of current fiat money because it is used legally in the country as a transaction tool. All economic policies taken will have a direct impact on fiat money. How not, because what determines inflation in a country is fiat money, not bitcoin. Monetary policy is devoted to regulating the supply of fiat money, not other assets. Because if it is excessive, there will be inflation, if it is less, there will also be a decrease in people's purchasing power. Bitcoin is not that common for everyone even there are still many countries that have not legalized it for reasons of economic problems.
Yes it is very harmful in currencies I heard in news U.S.A their dollar price dropped cause of pandemic i heard that the U.S.A economy is declining sharply maybe that's the reason as their currencies is also declining
The Coronavirus halts all economic activity, causing cash flow to stop circulating in the market. That reduces the liquidity of fiat money. Cash is also limited in use because they run the risk of spreading viruses by using them. Because of the pandemic, society will encourage not to use cash.
Bitcoin and gold are new places when money flows into it after being pulled out of other markets.
Bitcoin and gold are new places when money flows into it after being pulled out of other markets.
Coronavirus or COVID-19 is the reason why most countries are experiencing a huge downfall in their economy because production has stopped, that every worker temporarily lost their jobs due to community quarantine lockdowns. It is also why fiat currencies, banking system, and stocks are suffering during the pandemic. Unlike bitcoin, it saves our financial system from falling due to its decentralization.
Yes, its true. Physical money/fiat are very harmful this time, because it accumulate the viruses and stay for a long time in the money. And through hand to hand contact, the rapid spread and transmission of virus was made so easy. For me, this is the best time for total bitcoin adoption because it could protect and help us to manage our funds and pay bills and purchase online with less worry.
Even before the coronavirus there are few countries that faced hard inflation. The coronavirus made those go even worse. With other countries the lockdown/complete shutdown lowered the money flow within the country. This resulted in inflation.
To overcome the lack of money flow governments have announced different schemes. Most of the time the low level (beneficiaries don't make use of it). At the higher level itself it reaches their pockets. This isn't harm to fiat, but the politicians have made it an opportunity.
To overcome the lack of money flow governments have announced different schemes. Most of the time the low level (beneficiaries don't make use of it). At the higher level itself it reaches their pockets. This isn't harm to fiat, but the politicians have made it an opportunity.
The corona virus is really affecting the economy, the budget of the country is become shortage right now and some people are suffering a financial problem, and i think it takes a very long time to recover. The fiat is the most affected specially in some other country they never use fiat in buying or making any payment to avoid spreading the virus because virus can be transfer by holding the money or coin, while in bitcoin the virus has no effect at all.
For the coronavirus, the country's economy isn't stable and it's getting vulnerable. Because of being closed all the official things remained closed. That's why it is harmful to the fiat currencies. Bitcoin isn't affected because we saw the Bitcoin price and demand at that time.
Also the number of online transactions have been increased by a big margin and some new projects are being worked on the blockchain technology which means the pandemic was indeed horrific for the regular economy but the bitcoin market or the cryptocurrencies market in general actually benefited from the current situation.Coronavirus is spreading rapidly and the vaccine is not discovered yet. None can say any solution about it to reduce its affection.
There were news that the vaccine is coming from Russia but I don't know where that news evaporated and what happened with that news. I believe the only way to survive right now is by taking precautions and apart from giving our best chance to avoid corona virus we cannot do much so if we do our best and still get infected, we have to accept our fate. 
Coronavirus is spreading rapidly and the vaccine is not discovered yet. None can say any solution about it to reduce its affection.
For the coronavirus, the country's economy isn't stable and it's getting vulnerable. Because of being closed all the official things remained closed. That's why it is harmful to the fiat currencies. Bitcoin isn't affected because we saw the Bitcoin price and demand at that time.
For the coronavirus, the country's economy isn't stable and it's getting vulnerable. Because of being closed all the official things remained closed. That's why it is harmful to the fiat currencies. Bitcoin isn't affected because we saw the Bitcoin price and demand at that time.
.
This coronavirus is starting to collapse the economy of a country that has been affected by this virus because a lot of productivity has been stopped and there are a lot of people are starting to hoarding since there are lockdowns in their places. Fiat currency is a physical object, so it is possible that the virus could be pass on to another person, that is why there are countries who avoids accepting physical money for their own sake because you can't say if that money has been touch or not by an infected person.
Of course, the coronavirus is harmful to the Fiat currency. Because it moves toward physical appliance, not bitcoin. Bitcoin is an online currency and all its endeavor is performed online. So people have no probability to be affected. But in the Fiat currency people work from the self-present. So it is harmful to everyone.Jump to: