Topic: Coronavirus is very harmful to fiat currencies, not bitcoin - page 7. (Read 1440 times)
Of course, the current scenario is very bad for Fiat currencies and also affects BTCitcoin and cryptocurrencies. Because we use both assets in everyday life and we are all being affected by the Coronavirus. Probably Bitcoin and cryptocurrencies win a space of acceptance to contribute to the recovery of the economy and I really wish it for our community.
Bitcoin is online base currency I hope no any effect bitcoin price this corona virus only effective physical currency
It was about bitcoins and other cryptocurrencies that the coronavirus had the most direct impact when the price fell from 10,000 to 4,500, now we are winning back, but we have not won back even half the fall, and most likely we will not win back to halving.I don't think so. Bitcoin and other crypto currencies are not directly affected by the pandemic that is happening. It is already happening and the price even reached $10K, it just dived or dumped because of the PlusToken scam that happened the past year. Right now they are dumping the bitcoins they scammed to mixers the reason price is falling.
Its very harmful to everything, to every domain,to every currency no matter what. I think the only precious thing that are not harmed are Gold & Silver as this cannot affect them. I saw some videos on youtube that have predicted this economic collapse long before corona hit the world and they said $ is gonna drop so hard and another global currency will rise... . My thoughts are that $ cannot disappear so fast and we already have global currencies including Bitcoin.
Bitcoin is online base currency I hope no any effect bitcoin price this corona virus only effective physical currency
It was about bitcoins and other cryptocurrencies that the coronavirus had the most direct impact when the price fell from 10,000 to 4,500, now we are winning back, but we have not won back even half the fall, and most likely we will not win back to halving.If quarantine measures are followed by a global economic crisis, then here we will see for the first time how such a crisis will affect the cryptocurrency market. It is assumed that in this case, the cryptocurrency will even have to grow in value. Let's see if the assumption about the growth of the cryptocurrency market as a financial asset that is not subject to inflation will turn out to be true.
:Pcurious why not for BTC cause it can not be completely separated from economy
Our cryptocurrency are also affected by this virus because from 10,000$ before when virus is not yet existing, but when this virus exists in different countries the bitcoin price are also being affected by the virus in which it falls so seriously to the point that it reaches 3,900$, from 10000$ - 3900$ that is really big difference.
But this bitcoin is really important as of now because we can us it to purchase some goods and stuffs that we can use while we are still in community quarantine.
But this bitcoin is really important as of now because we can us it to purchase some goods and stuffs that we can use while we are still in community quarantine.
Bitcoin is online base currency I hope no any effect bitcoin price this corona virus only effective physical currency
It was about bitcoins and other cryptocurrencies that the coronavirus had the most direct impact when the price fell from 10,000 to 4,500, now we are winning back, but we have not won back even half the fall, and most likely we will not win back to halving.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.
I don"t see that because coronavirus is Global crisis and we don't see it's stopping soon and as you can see btc super violated and there's no guaranty it won't affect in future more.
Of course this will have an impact in the future as the number of coronary viruses continues to increase Everything around the world has been shut down and its impact on Bitcoin. People will be away from their work but Fiat is more dangerous than Bitcoin.
Bitcoin is online base currency I hope no any effect bitcoin price this corona virus only effective physical currency
It was about bitcoins and other cryptocurrencies that the coronavirus had the most direct impact when the price fell from 10,000 to 4,500, now we are winning back, but we have not won back even half the fall, and most likely we will not win back to halving. 
not affected? I don't think the value of the fiat currency, when it gets weaker, will affect buying and selling. This can be seen from the decline in crypto at the same time a few weeks ago, and not just for crypto stocks, but also for others.
So your assumption seems to be wrong.
So your assumption seems to be wrong.
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.
You're a bit ahead of our time, BTC will compete with fiat ''in real time'' once it is accepted for everyday purchases by most of the population, right now it competes with the gold and silver coins and penny stocks as cheap investment vehicles
It still needs more adoption and diffusion
Of course, if the ''big'' fiats -usd, euro- lost too much purchase power in covid's aftermath it will go up, but will take its time
He is not ahead of his time, you are. He is pointing a fact, governments are printing money like crazy in the last few weeks, and do you think they will stop anytime soon? So fiat supply is going up, more money than ever, while bitcoin and some other currencies can't do that, simply said they are printing unlimited amounts of money to buy limited amount of bitcoin, I think that say's all!
Corona is killing fiat economy, we will see what will happen after all this! Many businesses and people can't work, don't have any income, but you have to pay the bills.
Yes, monetary ''stimulus'' by governments reduce fiat's purchase power, but it doesn't do good for btc as long as people sees btc as an asset and not as money,corona isn't killing fiat economy, is killing fiat purchase power, but as long as fiat is the only money widely used for everyday purchases its reduced value doesn't matter
We need to use bitcoin as money, then it will show its fundamental strengths
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.
You're a bit ahead of our time, BTC will compete with fiat ''in real time'' once it is accepted for everyday purchases by most of the population, right now it competes with the gold and silver coins and penny stocks as cheap investment vehicles
It still needs more adoption and diffusion
Of course, if the ''big'' fiats -usd, euro- lost too much purchase power in covid's aftermath it will go up, but will take its time
He is not ahead of his time, you are. He is pointing a fact, governments are printing money like crazy in the last few weeks, and do you think they will stop anytime soon? So fiat supply is going up, more money than ever, while bitcoin and some other currencies can't do that, simply said they are printing unlimited amounts of money to buy limited amount of bitcoin, I think that say's all!
Corona is killing fiat economy, we will see what will happen after all this! Many businesses and people can't work, don't have any income, but you have to pay the bills.
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.
You're a bit ahead of our time, BTC will compete with fiat ''in real time'' once it is accepted for everyday purchases by most of the population, right now it competes with the gold and silver coins and penny stocks as cheap investment vehicles
It still needs more adoption and diffusion
Of course, if the ''big'' fiats -usd, euro- lost too much purchase power in covid's aftermath it will go up, but will take its time
Bitcoin is online base currency I hope no any effect bitcoin price this corona virus only effective physical currency
you may think its unafected but why the value of cryptos go down ? the dip started go severe just after they declared the virus .
this is many peeps believe that corona is also harmful to crypto/btc but few people could care less because most crypto enthusiast are verry happy for this decline. corona is still more harmful to the local economy and to the people living because it damages health and business . not sure if this will take long but this is verry alarming now
this is many peeps believe that corona is also harmful to crypto/btc but few people could care less because most crypto enthusiast are verry happy for this decline. corona is still more harmful to the local economy and to the people living because it damages health and business . not sure if this will take long but this is verry alarming now
Fiat currencies and bitcoin are somehow connected and we can't change that fact. Now that many establishments are not operating and some don't receive their salaries, it is possible that those people who invested in bitcoin will convert their assets into fiat and if it happens that most of the investors do the same thing, the market will fall and indeed all of us will be affected by it.
The coronavirus has hurt practically every commodity, stock and asset, including cryptocurrencies.
Did you not see how Bitcoin dumped as soon as WHO declared COVID19 a pandemic?
However, if you look at the analytics and trading volume for many exchanges, you'll see that they have seen a huge surge in volume and interest lately.
https://www.bestchange.com/
Take a look here, activity has increased dramatically in reason days.
Did you not see how Bitcoin dumped as soon as WHO declared COVID19 a pandemic?
However, if you look at the analytics and trading volume for many exchanges, you'll see that they have seen a huge surge in volume and interest lately.
https://www.bestchange.com/
Take a look here, activity has increased dramatically in reason days.
I feel like maybe we might be underestimating the economic infrastructure of the world. I understand that bitcoin is not affected and all that because we can't share a virus via online payments and bitcoin is great however we are in bigger trouble than just that. All of the world is scared right now and staying at home, that means lost profits for many places, how could we really expect bitcoin to not get affected right now.
There is no way we are unaffected by this, of course we would be, I understand we all love bitcoin and we all want to see the good parts of bitcoin however lets not think that this has anything to do with bitcoin, it is not and we can't really just look at it from out side, we have to look at from the sellers point of view as well to fully understand the situation.
There is no way we are unaffected by this, of course we would be, I understand we all love bitcoin and we all want to see the good parts of bitcoin however lets not think that this has anything to do with bitcoin, it is not and we can't really just look at it from out side, we have to look at from the sellers point of view as well to fully understand the situation.
Unfortunately when everyone is out of money they will attack to whatever investment they have and one of them is bitcoin. It was naive of us to think that bitcoin was created right after the 2008 crisis so it was basically a way to get away from the financial doom but we all forgot what really happened during the 2008 crisis.
Before that there was a lot of mortgages that were given away like it was candy, there was a HUGE amount of people who did not paid their mortgages and it was obviously hurting the economy but at the same time that meant a lot of people went way over board with the loans and mortgages they got and that means they would be either giving their houses back to banks or they would have to pay it somehow, if bitcoin existed back then everyone would sell all their coins to pay their debts, so there was no "bitcoin would have saved you on 2008 crisis" type of thing, we were mistaken.
Before that there was a lot of mortgages that were given away like it was candy, there was a HUGE amount of people who did not paid their mortgages and it was obviously hurting the economy but at the same time that meant a lot of people went way over board with the loans and mortgages they got and that means they would be either giving their houses back to banks or they would have to pay it somehow, if bitcoin existed back then everyone would sell all their coins to pay their debts, so there was no "bitcoin would have saved you on 2008 crisis" type of thing, we were mistaken.
The reason that btc is not affected is that it is a digital currency, unlike fiat where there is a physical contact then that is the reason that governments are trying their best to limit the usage of fiat because the virus can be transmitted by contracting an infected physical money.
That physical contact can transfer virus and spread more if the person is being careless, that's the beauty of digital / crypto currency, you don't need to hold it physically but you can use it if there's available devices that can be use to perform the transactions. Jump to: