Many fiat currencies lose their value during the pandemic that
make so many people wondering about bitcoin that still
maintain it value and stable in supply during the lockdown.
Bitcoin is decentralized currency which is well pumping the
way investors want it to pump compared to fiat currencies
which is centralized in the country. Many countries found it
difficult to use fiat money to improve their economy and other business things.
Bitcoin is well okay in the market which many people are still doing well with their profit.
Topic: Coronavirus is very harmful to fiat currencies, not bitcoin - page 5. (Read 1440 times)
I don't think that's the case. Because even in Corona, there's all offices locked up. There are many places where due to lockdown, even power supplies were stopped or temporarily saw huge cuts. Hence it's not in favor of Bitcoin as well. When the whole world shuts down, then everything that exists will be negatively impacted. Comparable to fiat, crypto has suffered less, but doesn't mean it didn't at all!
In today's world, you should not despair because there is no good in the good things that will happen in the lives of all of us no matter what every step is uncertain but I believe that it will be formed.in fact, fiat currency is very risky to anyone at this time that the coronavirus behind this scenario is still there and because of this situation, Bitcoin is fully alarming for how many months.
Coronavirus is not bitcoin it is an epidemic that has spread to the entire world economy but Fiat is very bad for the currency because the epidemic has brought the country's economy down a lot. In other monetary systems such as the government and the central bank the fiat currency depends on the country's economy not the bitcoin, so the fiat currency suffers from the effects of the epidemic. it will not last long most countries are planning to improve the economy and have opened up everything.
Well, it still depends on the government, if they handled the situation quite good then they don't need to have debts on our countries that will affect the fiat currencies.
All of the actions that will make our economy into downfall is because of our leaders' decision to our country.
The currency is affected at some point because of coronavirus but imagine if they are competent and such conditions, maybe we aren't suffering on this pandemic right now.
All of the actions that will make our economy into downfall is because of our leaders' decision to our country.
The currency is affected at some point because of coronavirus but imagine if they are competent and such conditions, maybe we aren't suffering on this pandemic right now.
Yes, many countries responded on the scare of corona virus wherein this pandemic brought drastic downfall to our world economy and until now we are still fighting to end this pandemic so that we can go back to our normal lives and to live without fear interacting with other people. Bitcoin on the other side, it did break down due to people cashing out to prepare for the lockdown procedures implemented by the government respectively.
Fiat currency flow got affected due to the pandemic. This is a temporary issue, and to increase the circulation of fiat currencies governments have made several plans. Fiat market is much associated with the economic conditions of a country. In specific when the production is affected automatically the impact can be experienced over money flow.
In my locality during the pandemic most of people out of cash started to cultivate their own food for survival. This is the situation prevailing around the globe, coronavirus is not harmful to anything specific. It has made good changes in human beings as well as made economic crash on the other side.
In my locality during the pandemic most of people out of cash started to cultivate their own food for survival. This is the situation prevailing around the globe, coronavirus is not harmful to anything specific. It has made good changes in human beings as well as made economic crash on the other side.
I don't think that's the case. Because even in Corona, there's all offices locked up. There are many places where due to lockdown, even power supplies were stopped or temporarily saw huge cuts. Hence it's not in favor of Bitcoin as well. When the whole world shuts down, then everything that exists will be negatively impacted. Comparable to fiat, crypto has suffered less, but doesn't mean it didn't at all!
When it pertains to covid-19, fiat or physical currency is really harmful to think that it could easily contains the virus from a hand to hand contact. Unlike bitcoin, it is more reliable and safe payment method this time. However, the problem here is that we cannot use it in our daily spending especially the basic necessities. And as for the Governments in certain countries has their own systematic guidelines in dealing out this crisis. Some was really drown into debts and any kinds of loans because of the budget shortage and economic fall. You are right, we are still lucky despite this pandemic because bitcoin industry remained strong and unshaken.
It is true there was/is an economic melt down in so many part of the world due to the Corona virus. This is as a result of the lock down imposed by several countries in order to contain the spread of the virus as it spreads fast through physical contact. Many businesses and services had to close down as a result of the lock down.
This, without doubt, affected the fiat currencies that we have just because they are physical cash. The virus can be transmitted through these fiat currencies and in turn needed to be avoided.
This is another advantage of bitcoin over fiat currency in that it is a digital currency and can be used without having physical contacts
This, without doubt, affected the fiat currencies that we have just because they are physical cash. The virus can be transmitted through these fiat currencies and in turn needed to be avoided.
This is another advantage of bitcoin over fiat currency in that it is a digital currency and can be used without having physical contacts
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.
In Germany for example, the deposit interest has a negative value, banks need the cash flow, to many people put money away so by increasing the budget deficit the party globe is launch in the banks.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 know that it still affects Bitcoin in the sense that fiat is the main monetary system and whenever situations like these hit people might be forced to sell their cryptocurrencies and still convert that money to fiat so that they can be able to buy food to last them till the situation is over. And when they start selling their coins it results to an increase in the price of Bitcoin.
So, I would say that this affects almost everything, though I am not sure if it was the reason why the price of Bitcoin crashed, I have seen so many cases being pointed at as the main reasons that caused the price of Bitcoin to plunge.
Yes, this is a pandemic and I think a pandemic affects everything there is. Every market, assets, you name it, they are all being affected by this pandemic. Cryptocurrency was hit by the coronavirus, if not the level the price is at now wouldn’t be what we would have been at.So, I would say that this affects almost everything, though I am not sure if it was the reason why the price of Bitcoin crashed, I have seen so many cases being pointed at as the main reasons that caused the price of Bitcoin to plunge.
So, it affected cryptocurrency, and look where Bitcoin has been at and can hardly get pass the level. At this time, a lot of people are even afraid to buy cryptocurrencies that are volatile and would prefer the stable coins to save their money from dropping. Although I would say it’s best to buy cryptocurrencies now that they are low in price. A future increase is on the way.
It is absolutely true that the coronavirus has had no effect on Bitcoin, but the worse the situation for Fiat currency the worse it will be But in the wake of the virus the price of Bitcoin is rising at a massive rate The bull run has almost come to the market Bitcoin can help improve the economy.
It actually did as the price went as low as 4k a few months back and it recovered because others saw it as a golden opportunity to invest some into bitcoins while countries suffering critically with covid-19 had a immense panic and a lot of miners also stopped operating from a news I read online somewhere so yeah there was a panic and bitcoins were affected but not for long period.According to me there is no reason why if the economy goes down we expect crypto currencies to be adopted because a poor economy means that you don't have enough money and those are times when people look towards fulfilling daily needs rather than making investment into crypto and bitcoins.
China always had a large share in holding of bitcoins so the crash that happened in March was because of China I believe as they were the ones firstly affected by the corona virus.
Fiat currency has very useful even before however we all know that it can be the producer of viruses like corona whereas until now, based on the beliefs it is also a carrier through the hands. But personal hygiene is better and my point to eliminate as a simple way to prevent this kind of virus, despite, when lockdown has declared fiat money also has a quarantine by itself due to many people are stranded and lose their job.
Exactly but during such times people are looking for options that provide them stability for the time being and not profits in the long run. I do not see an opportunity for bitcoins but overall it is very true that fiat transactions would be reduced in future because people don't want to touch the physical notes and rather adopt the cash-less payment methods which brings bitcoins on the top although there are tax issues and evaders and other illegal activities that can be pursued with the help pf bitcoins so it will be hard for the government to ever take initiative and they would rather adopt a payment system like paypal so that they have more control over their people.Conclusively I don't think bitcoins are much benefited by either corona virus or any virus that spreads because when anything like this happens there will be a low for almost all the markets including crypto industry.
Coronavirus is affecting too much our economy but i don't think that it harm the fiat money because fiat money is still useful even covid pandemic keep on spreading. Fiat moneybis issued by the government and although we are in a worst situation fiat money still exist and useful everyday to buy our needs. Bitcoin is helful also at this time because it serve us an alternative source of income this time that many are stay at home and lost their job. Fiat and money are now the important factor to consider during this pandemic,hope that government know that. And hope that the mass adoption of bitcoin and other cryptocurrency will continue to increase.
Bitcoin now seems to be more effective than the Fiat currency in improving the economy. Because fiat is controlled by a fully centralized government the demand for fiat currencies goes down as the economy suffers.
It is absolutely true that the coronavirus has had no effect on Bitcoin, but the worse the situation for Fiat currency the worse it will be But in the wake of the virus the price of Bitcoin is rising at a massive rate The bull run has almost come to the market Bitcoin can help improve the economy.
It is absolutely true that the coronavirus has had no effect on Bitcoin, but the worse the situation for Fiat currency the worse it will be But in the wake of the virus the price of Bitcoin is rising at a massive rate The bull run has almost come to the market Bitcoin can help improve the economy.
The Covid-19 crisis already effected economy all over the world. But, people unfortunately thinking it's over, considering there is no vaccine yet and the outbreaks situation, it's not going to be over yet and the progress is harming the economy in all nations governments are under pressure because of the crisis and so people. During this sad period of the time Bitcoin is a safe trench for investors because except for the previous dump, Bitcoin market is effected less than others, that's what saves the economy during this time.
So, we can take advantage of the situation and could get the bitcoin payment systems a lot more awareness. If we create that awareness, if the companies that builds bitcoin cards actually market it like "want to not touch anything? Use our bitcoin cards and have payments without touching anything", that would really work for us.
What if we settle and look forward to those QR scanning so that it is really a less physical touching of things to make transactions. You will only use your device to scan those QR codes and the transactions is done, as easy and fast like that. But it will take a lot of time for other companies to build a platform where they allow the sending of cryptocurrencies using QR codes just like what is happening in the supermarket and other businesses.
The problem is that some supermarket or businesses are still not accepting bitcoin as a payment due to ignorance of cryptocurrency. They are still not that convinced to allow the accepting of bitcoin in their economy so it is useless if we still continue this kind of concept if we do not prioritize adoption first.
With that said, I still don't think fiat will not survive, it will but maybe in the long run if government can regulate the crypto world, people might have a freedom to choose fiat as only a payment system while bitcoin as a store of value.
Fiat is government, because they created it, the only reason why we hate fiat is when we hate our government, that's it.
They are useful to people especially those who are just living a simple life, not thinking of investing but just working to survive, but for people who sees and concern of the future, they will care so much on the status of the government, especially its financial side to determine and predict its future.
Bitcoin as they say a store of value, but its volatile, so there's always a debate on that, not everyone can be convince.
Yes I do have seen how our government have responded on the rising case of this covid-19 pandemic. Our government have extended a hand on borrowing money from the world bank just to be able to sustain the needs of its people since many individuals are directly affected by this pandemic because many establishments are close which lead to people getting jobless and tend to stay at home.
It is indeed that this pandemic is really harmful directly to the fiat currency and not into Bitcoin because we are most likely using fiat to provide direct response on this pandemic to sustain the necessities of ours to be able to survive this crisis. This Pandemic have really gone through the limitations of almost all countries affected which lead them to create a loan or borrow money just to sustain the needs of its people during this crisis we are facing right now.
It is indeed that this pandemic is really harmful directly to the fiat currency and not into Bitcoin because we are most likely using fiat to provide direct response on this pandemic to sustain the necessities of ours to be able to survive this crisis. This Pandemic have really gone through the limitations of almost all countries affected which lead them to create a loan or borrow money just to sustain the needs of its people during this crisis we are facing right now.
Debt is always considered the solution for all economic problems, even though its true debt actually adds to the economic burden. Because debt is always accompanied by interest and collateral, so that creditors always and surely benefit, besides that the government protects the bank as if the bank collapses then the economy will experience a disaster. In fact, it is the bank that is the trouble maker.
World Bank & IMF although officially this is an international institution, the international monetary is organized like a private company. Decisions must be made by the majority of shares held. Because America holds the majority of capital in both, America is the main actor who controls the most votes for the funds or bank decisions.
Especially for the corona pandemic, the fact also affects the cryptocurrency market. Because normally individuals in crisis conditions will hold cash in the form of fiat (dollars). Evidently Berkshire Hathway released a majority of its shares at the end of March and held cash, but its purpose was different from other individuals in general, Warren Buffett would likely buy up many shares when the price dropped during an economic crisis. So they remain kings after the crisis.
That is the only move by the government, the easy solution is just to borrow funds that they need during the pandemic, but of course bitcoin is different, as we in crypto are living in a decentralized ecosystem, the only thing that is corrupt here are the manipulation of the whales but at least we are aware of that and the figure is very transparent to us unlike in our government where they make a law or action that might have long term bad result.
With that said, I still don't think fiat will not survive, it will but maybe in the long run if government can regulate the crypto world, people might have a freedom to choose fiat as only a payment system while bitcoin as a store of value.
With that said, I still don't think fiat will not survive, it will but maybe in the long run if government can regulate the crypto world, people might have a freedom to choose fiat as only a payment system while bitcoin as a store of value.
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