Topic: Does this Pandemic intensifies the usage of Bitcoin? (Read 450 times)
While my anecdote may not mean much, but I've noticed close friends/acquaintances talking about cryptocurrency more often than normal in the past few months. In general, I think people are losing faith in their governments over this crisis, so interest in decentralized currencies may just go hand-in-hand with the sentiment.
Imagine that a person does not have bitcoin, never used bitcoins, but that person is afraid to get a FIAT because he can get the virus. So how the hell is that person going to have bitcoin without leaving home? how is this person going to buy bitcoin without having money in the bank account? how did that person buy bitcoin without making KYC? And have you seen how high rates are when people buy bitcoin using a debit card?
^ It is a good question though, not all the times we can use bitcoin as payment when there are various numbers of good alternatives than bitcoin. So, therefore, my answer is no. Pandemic has not intensified the usage of bitcoin because they don't have any connection, bitcoin continues rising up amends the COVID 19 situation. That was obvious that the economic crisis and bitcoin or other cryptos have not any correlated in the downtrend when the COVID virus almost killed our economic growth and now we are in a recession. Nevertheless, we should be thankful even bitcoin is not commonly worldwide payment used in but at least it is good for investment, as a safe haven.
We are all still currently experiencing the effect of pandemic and most of us do still tend to stay at home to avoid getting infected by the virus.
My question is that does this pandemic intensifies the usage of Bitcoin knowing that physical or paper money might also be a carrier of the virus once pass on hand might caught droplets bringing the virus from a certain individual.
Using Bitcoin provides cashless experience that we know safer with this pandemic so, does this means that people will tend to use Bitcoin at this time or still into fiat?
My question is that does this pandemic intensifies the usage of Bitcoin knowing that physical or paper money might also be a carrier of the virus once pass on hand might caught droplets bringing the virus from a certain individual.
Using Bitcoin provides cashless experience that we know safer with this pandemic so, does this means that people will tend to use Bitcoin at this time or still into fiat?
I have a question:
Imagine that a person does not have bitcoin, never used bitcoins, but that person is afraid to get a FIAT because he can get the virus. So how the hell is that person going to have bitcoin without leaving home? how is this person going to buy bitcoin without having money in the bank account? how did that person buy bitcoin without making KYC? And have you seen how high rates are when people buy bitcoin using a debit card?
it intensifies but not because of the scenario you have stated but because people look for ways to earn income at home
I believe that most people should be looking for things like youtube, blog. because to earn money with bitcoin just by buying bitcoin and for that the person will have to go through some procedures like KYC and high fees when buying with debit card and hodl Is something else that takes time and if they are people who need money with some urgency they will prefer what I said before: create a blog or create a youtube channel to earn money
In my country Indonesia, the use of bitcoin is only allowed to trade commodity futures and may not be used as an official exchange for buying food, daily necessities and others.
The use of bitcoin does provide a new experience in conducting transactions, but transactions other than bitcoin that do not need to use cash are also available such as OVO, GOPAY and DANA. it is the third digital currency platform that is currently popular in Indonesia.
The use of bitcoin does provide a new experience in conducting transactions, but transactions other than bitcoin that do not need to use cash are also available such as OVO, GOPAY and DANA. it is the third digital currency platform that is currently popular in Indonesia.
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I hope in near future Bitcoin will be a better alternative to fiat money, because in this pandemic era people just want to stay safe and want to maintain distance from each other, Actually there is no other way out of this epidemic without maintaining social distance. You know we have not yet discovered the vaccine. so, I think it is high time to promote BTC as the alternative of fiat money. I think people will take BTC well because of this pandemic.
We are all still currently experiencing the effect of pandemic and most of us do still tend to stay at home to avoid getting infected by the virus.
My question is that does this pandemic intensifies the usage of Bitcoin knowing that physical or paper money might also be a carrier of the virus once pass on hand might caught droplets bringing the virus from a certain individual.
Using Bitcoin provides cashless experience that we know safer with this pandemic so, does this means that people will tend to use Bitcoin at this time or still into fiat?
In today's time people are having a lot of options to pay digitally which are centralized as well and are certified as safe to use by the banks, but about bitcoin not every common people know. So they tend to go towards the things accepted by the masses and that is PayPal, gift cards and other digital payment methods instead of using cryptocurrencies. My question is that does this pandemic intensifies the usage of Bitcoin knowing that physical or paper money might also be a carrier of the virus once pass on hand might caught droplets bringing the virus from a certain individual.
Using Bitcoin provides cashless experience that we know safer with this pandemic so, does this means that people will tend to use Bitcoin at this time or still into fiat?
But in future there will be a time when the world would be completely ruled by digital payments and there will be a cashless society.
FIAT is still the main payment method today. FIAT is not just physical cash, FIAT also has a digital currency which is currently more popular. The use of Bitcoin during this pandemic has indeed increased, but for intensive use in the needs of daily transactions is still not visible. The adoption of Bitcoin in several countries has different regulations, so it cannot be fully implemented.
Fully FIAT is still above Bitcoin and is still the main transaction at this time.
Fully FIAT is still above Bitcoin and is still the main transaction at this time.
We are all still currently experiencing the effect of pandemic and most of us do still tend to stay at home to avoid getting infected by the virus.
My question is that does this pandemic intensifies the usage of Bitcoin knowing that physical or paper money might also be a carrier of the virus once pass on hand might caught droplets bringing the virus from a certain individual.
Using Bitcoin provides cashless experience that we know safer with this pandemic so, does this means that people will tend to use Bitcoin at this time or still into fiat?
Maybe it was possible to other countries which bitcoin is already accepted and recognized by the government.But in our country, just a little percentage are using bitcoin as an alternative for payments online specially now that government has begun to implement a new normal which a lot of people can go back now to work and almost more than 50% of transportation are now operating. My question is that does this pandemic intensifies the usage of Bitcoin knowing that physical or paper money might also be a carrier of the virus once pass on hand might caught droplets bringing the virus from a certain individual.
Using Bitcoin provides cashless experience that we know safer with this pandemic so, does this means that people will tend to use Bitcoin at this time or still into fiat?
You are right that the Bitcoin coin was safer during the period of the spread of the virus and the home stone, as this currency is intangible and you cannot transmit the virus unlike the hard currencies, which is why many people have used the Bitcoin coin as it was their first experience of using these currencies. Very large by many people from different parts of the world and for this reason I see that the Corona virus had a positive role on cryptocurrencies and a lot of digital money has been used in addition to Bitcoin and for whom the greater percentage of use is due to cryptocurrencies
With this pandemic, i have seen more activity in the bitcoin casinos. Since people are working from home they will try to find a way to get an extra income, and bitcoin is that chance for them. So, the answer is yes. Se usage of bitcoin is higger now.
The fact that those who are using bitcoin for investment are already using it for ordering online since the pandemic virus are threatening them, avoiding the spread and the chance of being infected due to the fact that regular fiat can transfer the virus.
And with what you have said online casinos are benefiting since there are lots of people who also tried some luck and gambled their money.
With this pandemic, i have seen more activity in the bitcoin casinos. Since people are working from home they will try to find a way to get an extra income, and bitcoin is that chance for them. So, the answer is yes. Se usage of bitcoin is higger now.
We are all still currently experiencing the effect of pandemic and most of us do still tend to stay at home to avoid getting infected by the virus.
My question is that does this pandemic intensifies the usage of Bitcoin knowing that physical or paper money might also be a carrier of the virus once pass on hand might caught droplets bringing the virus from a certain individual.
Using Bitcoin provides cashless experience that we know safer with this pandemic so, does this means that people will tend to use Bitcoin at this time or still into fiat?
My question is that does this pandemic intensifies the usage of Bitcoin knowing that physical or paper money might also be a carrier of the virus once pass on hand might caught droplets bringing the virus from a certain individual.
Using Bitcoin provides cashless experience that we know safer with this pandemic so, does this means that people will tend to use Bitcoin at this time or still into fiat?
people will continue to use fiat for the current pandemic but more to e-cash or electronic money, where we only make top-ups/deposits to an electronic money application in our country which only uses fiat pair of the country and we can shop or buy something only by using their application without leaving and without holding the physical money. Bitcoin is still rarely seen by laypeople, and there are very few shops here that open cryptocurrency payments. maybe because many laypeople do not know now but the existence of e-cash or electronic money can make the view that bitcoin can be a digital payment option like electronic money.
This articles explain why people must invest in Bitcoin or Gold this pandemic and yeah i support this well.
https://www.cnbc.com/2020/05/21/why-you-shouldnt-invest-in-bitcoin-or-gold-during-coronavirus-crisis.html
Remember that Online Money is much safer than what fiat can do.
another good articles about such advantage of Bitcoin in this covid 19
https://www.kitco.com/news/2020-03-19/If-there-is-no-utility-in-bitcoin-then-why-not-just-hold-gold.html
https://www.cnbc.com/2020/05/21/why-you-shouldnt-invest-in-bitcoin-or-gold-during-coronavirus-crisis.html
Remember that Online Money is much safer than what fiat can do.
another good articles about such advantage of Bitcoin in this covid 19
https://www.kitco.com/news/2020-03-19/If-there-is-no-utility-in-bitcoin-then-why-not-just-hold-gold.html
Using Bitcoin provides cashless experience that we know safer with this pandemic so, does this means that people will tend to use Bitcoin at this time or still into fiat?
Even fiat can be used online. It’s going to take time for bitcoin to take over fiat. Why because a lot of people have to be educated to use bitcoin and is until bitcoin is accepted worldwide the Fiat currencies will still have an edge My question is that does this pandemic intensifies the usage of Bitcoin knowing that physical or paper money might also be a carrier of the virus once pass on hand might caught droplets bringing the virus from a certain individual.
First of all bitcoin is not accepted worldwide yet. so pandemic or no pandemic it is fiat we are using. So for the answer it will only intensify when the world have maybe passed a bill, and top countries are now accepting it. but for now, No.
Honestly speaking, when we say adopting cashless transactions, it's more likely for the public to recognize cards or other digital payment methods compared to bitcoin or other cryptocurrencies. It's already hard for others to adapt to simple digital transaction method, what more with bitcoin.
Yes, because unfortunately there are limited merchants who accept bitcoin payment and we can only see them in few countries that's why we cannot see it more used in terms on essential transactions, But still there's a good thing happening with this pandemic since when people is at home for sure they find bitcoin as reliable currency and potential profit giver to the people who seeks an opportunity to earn. I see some of my fellow country men reaching out on it and provably they will explore this and find a good venture that will fit on their findings.
Honestly speaking, when we say adopting cashless transactions, it's more likely for the public to recognize cards or other digital payment methods compared to bitcoin or other cryptocurrencies. It's already hard for others to adapt to simple digital transaction method, what more with bitcoin.
Based on what I noticed here in my country during this pandemic, online transactions are starting to get more popular but it's only limited to those who have access to it. Most of the time, people are still dependent on paper money even though there's a threat of the virus since it's most convenient to use when buying things physically. If there is an increase in bitcoin usage, I think it's not that noticeable compared to other cashless payment methods since it requires further research and exploration before you can understand how it works.
Based on what I noticed here in my country during this pandemic, online transactions are starting to get more popular but it's only limited to those who have access to it. Most of the time, people are still dependent on paper money even though there's a threat of the virus since it's most convenient to use when buying things physically. If there is an increase in bitcoin usage, I think it's not that noticeable compared to other cashless payment methods since it requires further research and exploration before you can understand how it works.
Using Bitcoin provides cashless experience that we know safer with this pandemic so, does this means that people will tend to use Bitcoin at this time or still into fiat?
There might be some of the few people, but majority won't, considering the fact that there are a lot of options for cashless transactions, not everyone is aware of cryptocurrency (specially in my country), and most of the crypto enthusiast doesn't want to spend a single fraction of their Bitcoin.
Even If a lot of people discover Bitcoin amidst this lockdown, they won't use it to buy something anyway, instead they'll hold it like everyone of us is doing.
I think yes, it intensifies the usage of bitcoin because most of us are now jobless and we font has something to do at our home, some people become more focused on exploring the crypto world and earning cryptocurrency or bitcoin. We are all required to stay at home and we are commonly using the bitcoin or other cryptocurrency for some online transactions such as hotel reservations, bill payments, etc that is why the bitcoin or other cryptocurrency becomes so much used because of this pandemic virus. Just like me, I become more focused on cryptocurrency because I am not busy and so much free as of now.
Yes using bitcoin for making transactions can be a good option to avoid human to human interaction as this virus transmits via physical contact. But the problem is that not many websites or companies are not accepting BTC as an alternated mode of payments but some accept. There are many other options which are already available for making payments like WeChat in China, Apple Pay, PayPal, Google Checkout and Amazon Pay etc which allow people to pay without using flat money. Using Bitcoin to make payments can be possible in future but right now people are preferring other methods.
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