Topic: Covid crisis & evolving phases - page 4. (Read 691 times)
Any prediction will be the end of covid 19 and have possibility at this year corona virus will be success stop around the world, my country keep continue every day get new victim more than one thousand people, I think is very big amount and until today above thousand hundred people become victim of covid 19.
So far, it looks like the pandemic is here to stay. Countries are apparently trying to adapt to e-studying through online classes.. There are also lots of people who've adapted to credit card payments instead of cash as well. which means we're clearly going the digital way.
That's why many people said that this is the best time for the digital currency to become useful and popular, especially cryptocurrency. People are scared to go outside, to pay bills physically and going outside, that's why they settle to pay online using third parties or online apps that will process their transactions. It is less hassle and you don't need to go outside and risk your health, you are just sitting in your house, accessing your digital wallet and then you can pay anything that you need to pay.
This pandemic is the best season also for online businesses as people are only shopping online and rely on those shipment or deliveries, which is good.
So if you will try to make a business, don't hesitate to invest an online shops.
Does Coronavirus pandemic will permanently change consumer behaviour towards digital currency? 
it may affect of course. In our country, there are more people who wanted to learn about digital currency as well as digital payments as transactions. Especially that our government implemented another modified enhanced community quarantine(MECQ) in our area. Thus, people will make another interesting approach towards digital currency.
Does Coronavirus pandemic will permanently change consumer behaviour towards digital currency?
Depends, if the digital payment system flaws will be fixed.
To name a few such as ;
- Sudden offline status
- extra charges/ transaction fees
- universal acceptance of all payment processor.
Though with the current pandemic, most of the payment processors will surely have enough time to study on which area they're able to improve specially now that we're expecting a massive volume of digital transactions.
On the other hand, the rise of digital currency today is an advantage for Bitcoin. But the problem is, does people use it as a primary option?
As the covid crisis is evolving step-by-step, started as a health crisis it is bending towards economic crisis which is showing an elevation from physical to digital.
Does Coronavirus pandemic will permanently change consumer behaviour towards digital currency?
Does Coronavirus pandemic will permanently change consumer behaviour towards digital currency?
I think this will depend on how the government reacts and establish guidelines for finance transfers. If the government make it available and implement the guideline strictly about the use of digital currency then it is possible that consumer will be inclined to change the behavior towards digital currency "permanently".
it's actually clear the government will be helped if people want to use digital currency. but it may not always have to be with crypto money, because now it has also developed in many countries digital money held by several companies that are not directly connected with banking.
Digital money is very much helpful in a pandemic like this, because the growth of online services is very significant and transactions through digital money are needed.
As the covid crisis is evolving step-by-step, started as a health crisis it is bending towards economic crisis which is showing an elevation from physical to digital.
Does Coronavirus pandemic will permanently change consumer behaviour towards digital currency?
Does Coronavirus pandemic will permanently change consumer behaviour towards digital currency?
I think this will depend on how the government reacts and establish guidelines for finance transfers. If the government make it available and implement the guideline strictly about the use of digital currency then it is possible that consumer will be inclined to change the behavior towards digital currency "permanently".
I've always been big on both cash payments and crypto payments when possible as I think it's better for both individuals, companies and society.
Coronavirus has had zero impact on my underlying beliefs about any of those systems.
Coronavirus has had zero impact on my underlying beliefs about any of those systems.
As i can see even IMF shared their positive feedback towards innovation and replacing the old Fiat monetary system that's fundamentally flawed, and currently in a brink of collapse due to its infinite money printing that's devalues other money already in circulation especially in this times of pandemic they're printing trillions of new paper money every day.
The government isn't particularly giving way for crypto to dominate the market and outplays fiat money that is why they keep printing paper money to anticipate that digital transformation. Because if people are in the go to Bitcoin, its likely they can't make benefits from it. With this circumstances, its either not see Bitcoin willfully adopted globally, the existing fiat monetary system will still be dominating. And so people will still make use of fiat than to adopt cryto.
As the covid crisis is evolving step-by-step, started as a health crisis it is bending towards economic crisis which is showing an elevation from physical to digital.
Does Coronavirus pandemic will permanently change consumer behaviour towards digital currency?
Does Coronavirus pandemic will permanently change consumer behaviour towards digital currency?
This is good times for digital services... i have a local web development service and is on fire nowadays. And the crypto casinos have nome action than ever. So he crisis is for local business, not for the online ones
As i can see even IMF shared their positive feedback towards innovation and replacing the old Fiat monetary system that's fundamentally flawed, and currently in a brink of collapse due to its infinite money printing that's devalues other money already in circulation especially in this times of pandemic they're printing trillions of new paper money every day.
It is true that this corona virus forces us to change our lifestyle to be cleaner and always use digital currency to avoid physical contact.
But this does not make everyone permanently change always using digital currency. Even in the area where I live people just to go back
to using cash money after the government reports that there is a decrease in the number of people who are positive for the corona virus.
The conclusion to change the behavior of all people is not as easy as imagined, especially for old people the habit of using cash money
considered more comfortable.
But this does not make everyone permanently change always using digital currency. Even in the area where I live people just to go back
to using cash money after the government reports that there is a decrease in the number of people who are positive for the corona virus.
The conclusion to change the behavior of all people is not as easy as imagined, especially for old people the habit of using cash money
considered more comfortable.
Does Coronavirus pandemic will permanently change consumer behaviour towards digital currency?
For sure people will surely use digital transactions for a long time because of this pandemic but still there are some who will prefer to use physical cash because they don't have any digital cash.This pandemic surely affected many people globally and the WHO said already that there is a chance that the virus will stay even though there is a cure being created soon. Although people are leaning towards digital transactions right now, I don't think that it will be like that permanently. There will be a time where people will go back to the normal transactions where they are using physical cash but it will take time for that to happen.
Using cashless payment has been encouraged this time because of the pandemic but I know this will never be forever and the crisis will be over soon which makes people get back using fiat again at that time. Well, I consider this an evolving phase but not actually that we are at the finished line yet, it takes more time, gonna be years or more to make it and not only because we are in COVID-19 but because people are fully adapting crypto leaving fiat at all.
Anyway, since we are already in this situation, why not maximize the use of Bitcoin? We have this option and it also gives us a comfortable way in payment system.
Anyway, since we are already in this situation, why not maximize the use of Bitcoin? We have this option and it also gives us a comfortable way in payment system.
Not many people will have the opportunity to use bitcoin as not all of them are willing to try crypto. Either they do not want to try cryptocurrency because of less to no knowledge of using it or because of their knowledge that crypto is somewhat used in fraudulent activities. Though many want to be cashless nowadays, but still using fiat can't be avoided in some transactions. And using only digital payment would take time to be accomplished.
Using cashless payment has been encouraged this time because of the pandemic but I know this will never be forever and the crisis will be over soon which makes people get back using fiat again at that time. Well, I consider this an evolving phase but not actually that we are at the finished line yet, it takes more time, gonna be years or more to make it and not only because we are in COVID-19 but because people are fully adapting crypto leaving fiat at all.
Anyway, since we are already in this situation, why not maximize the use of Bitcoin? We have this option and it also gives us a comfortable way in payment system.
Anyway, since we are already in this situation, why not maximize the use of Bitcoin? We have this option and it also gives us a comfortable way in payment system.
If the COVID crisis continue next year, more and more people are going to move to digital payments. I have already seen stores in my town accepting digital payments. Once its normalized that people who has no idea how to do it gradually learn to pay using their mobile phones, the adoption to cryptocurrency increases. The entire world if not all have android phones already to use for this purpose so we are set to adopt it.
This pandemic is not going to become anything bigger than it's already is. The number of cases is increasing but the number of deaths per case is decreasing.
Of course this is just the beginning. In time we'll have a new more mutated version of coronavirus or another mutated bird flu or something else. People already know that Internet stores and cashless transactions are the future and those who had no ability to use them before the outbreak will for sure be ready for another one.
Bitcoin also should be ready with faster and cheaper transactions and an infrastructure to accomodate all buyers in case of a new pandemic.
Of course this is just the beginning. In time we'll have a new more mutated version of coronavirus or another mutated bird flu or something else. People already know that Internet stores and cashless transactions are the future and those who had no ability to use them before the outbreak will for sure be ready for another one.
Bitcoin also should be ready with faster and cheaper transactions and an infrastructure to accomodate all buyers in case of a new pandemic.
I don't believe that it will become permanently changed or cashless will take over or remove the traditional way in the society.
What I believe is, cashless will be the new trend and the traditional way will still stay as it is, it will be choice for the people what will they use.
There are lot of different using digital than physical, but we should also consider a lot of pros and cons on it. Even we say digital payment is really convenient, there are still lot of people don't want to use it or don't know what to do.
What I believe is, cashless will be the new trend and the traditional way will still stay as it is, it will be choice for the people what will they use.
There are lot of different using digital than physical, but we should also consider a lot of pros and cons on it. Even we say digital payment is really convenient, there are still lot of people don't want to use it or don't know what to do.
Even before Covid, central banks were moving towards CBDCs.
The digital yuan is already being tested.
Also other central banks ( EZB, BoE, etc.) have stated that efforts are already being made to move towards a CBDC.
I still hope that we don't become a 'cashless society', where in my opinion the disadvantages clearly outweigh the benefits.
The digital yuan is already being tested.
Also other central banks ( EZB, BoE, etc.) have stated that efforts are already being made to move towards a CBDC.
I still hope that we don't become a 'cashless society', where in my opinion the disadvantages clearly outweigh the benefits.
I was used to the digital payment system before the pandemic. But I can surely say that Covid-19 made us using digital payment forcefully. At present I see my family members doing this quite a lot. In our country there is no cash on delivery now. You have to pay the bills before you place the order. Or if you want to select the cash on delivery system you have to select cashless delivery. Which is when you receive the product you need to pay the bill through mobile banking apps. That's how the digital payment is increasing day by day. And the people of my country is adopting it to their life for this Covid-19 situation, because there is no other option.
Does Coronavirus pandemic will permanently change consumer behaviour towards digital currency?
Even before the pandemic, doing cashless transactions is highly encouraged.
So to rephrase your statement, towards "digital payments" and not "digital currency".
With or without pandemic, expect that the volume of digital payment will increase time by time. But unfortunately, it doesn't mean BTC will always be considered to be used, at least from what I observed here in our community. We have to accept that bitcoin is still far from being accepted nor consider being used worldwide especially at a time like this due to the fact that there are not many merchants accepting crypto-payments directly or simply people are having more convenience with fiat payments online on which transaction are just 1-tap.
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