Topic: How bitcoins is helping during the lockdown - page 8. (Read 1356 times)

Agree, every country needs mass testing. I think infected people without symptoms might be spreading the virus faster than we know. Lockdowns can help slow down the spread but it will only be effective when all the people gets help from their government, such as work pay, rents, and other needs. Otherwise, they will not remain in their houses when they know they need to work.

That 17 yr old news is kind of scary. How can we beilive in  testing with that news? I wish it isn't true.

obviously digital payment will help people who are in isolation , I don't think bitcoin is used much in this case if bitcoin is used more then price would not be falling so badly , other then bitcoin people can use online transfer too bu overall digital medium is helping to contain virus from spreading

Our government has established a lockdown already days ago and we can feel the effects of it on the first day especially for those who are working as an employee or as a crew member in fastfood. It already affected all of the workers since most of the establishments have been closed temporarily.

Those who will suffer the most here are the ones who doesn't have any emergency funds in times like this. If you are a financial literate person, you must know that you need to keep money for emergency funds. Your savings can be your emergency funds too if you are lacking monthly salary but you must have a emergency fund so that if situations like this will happen then you have spare money to use. Most of our people here in our country are suffering right now because they don't have emergency funds and what do they do? Sharing what they are feeling in social media and bashing the government :X.

If there are people who helped by Bitcoin right now, these are the ones who are working online like freelancers who are accepting Bitcoin and us people who are into a signature campaign which is Bitcoin paid. It is supporting me right now at least and this is where I get my fiat money to buy some supplies and some of my needs. Even though I don't go out like most of the people here, I have given an opportunity to earn at home .

We don't have a choice but to accept currency notes right now especially if we are in a business who are still open right now even the crisis was there or we are buying things outside. The only thing that we can do is after you give the note, wash your hands with soap and water or put some alcohol on your hand so that the virus will die.

Bitcoin is being used as of now because of the virus, there are many people who became afraid of going outside, they are afraid to buy foods, stuffs, etc. because of the virus, but there is no problem on that if we have BTC or different cryptocurrency on our e-wallet and of course if our country accepts the bitcoin as payment on something. I think because of our current situation, different countries are now planning about the use of cryptocurrency in their land because it really helpful as alternative on our fiat currency.

The purpose of lock down is to minimized the spreading of corona virus within a country, but when we hear lock down it is a force by the government to stay at home and to avoid people to go out. But it is impossible to go outside because we need to buy food that serves as an essential needs. For me, the bitcoin will help us during the crisis by just sending them digital money and used it in buying foods or essential needs and for the digital money can act as payment. Using digital money can prevent of spreading the corona virus because when we used the physical money it can transmit the virus to others, so that I prefer to used digital money instead of physical money. That's for my opinion only.

I have this scenario in my mind:

We cannot go to a local store to buy daily needs, but we can ask them to send the product to our homes after we make a payment to them. And gladly, they accept crypto as the payment besides of credit/debit card so they could send the wallet address to us so we can pay them directly from our home. That will be excited to have that experience because we don't have to to go anywhere, and we can make a pre-order to them and let them prepare everything for us, and we only need to pay the transaction.

We can do another thing in our homes while they delivered our request. I think that will help many people from preventing the virus while we don't have to be afraid of the lockdown.

One of the widely spreading news today is related to the outbreak happening right now into our country and that is the coronavirus and many people make a lot of panic buying or hoarding because of the lockdown happening on different places and their city to secure they selves they need to buy a lot of things immediately and some of them are having a cryptocurrency or the bitcoin and some of the people make withdraw and convert their bitcoin into fiat currency so they can use it to buy all the things they need and now it is really affect to the whole market of the crypto because they are rapidly selling their coins and the price of the bitcoin fall down, also some of the investors of bitcoin help out and donate some money to the government or to other people so they can sustain for a while and cure the virus and avoid spreading on it rapidly. The total bitcoin amount is too hard to identify because from the price of 9k dollars it falls immediately into 3.9k dollars.

I am glad crypto markets were damaged because it just gave us the opportunity to buy almost all leading crypto for cheap price . I don't think BTC will fall again in the near future ( except if Coronavirus panic isn't over in 4-5 months ) . As you told , 9-5 job guys are the hardest hit , the factory owners will have to suffer huge losses but I am sure governments will come forward to help them ( but they actually can't as they are the ones funding the virus testing which actually costs too much ) .

Yup , it will be good for BTC community as if more countries accept it , more buying of BTC then the price will go up . Not only in that point of view , it will also help the countries too in generating income.

I guess that the current situation of government lockdowns everywhere will benefit all online industries.
Online shopping is booming.Amazon wants to hire 100,000 people in order to fulfill all shipping orders.
The crypto world might benefit from this as well,even though the crypto exchange platforms were damaged by the market panic.The coronarecession will damage all "brick&mortar" businesses and many people with "9 to 5" jobs will lose their income source.There must be some kind of social security system that protects them from extreme poverty and going bankrupt.The governments should find a way.I don't think that the crypto world can help those people.

As what we are facing right now, as COVID-19 is still spreading around the world, some governments in different country decided to lockdown some areas, or even the whole country to prevent the spreading of the virus, which is I strongly agree with what they have done, because that is the only thing that can lessen the risk of spreading the virus.

There are already a lot of bankrupt businesses, unemployed workers, and infected people because of the virus, there are so many afraid people to go outside thinking that they can get the virus if they go outside, by that thing bitcoin or other cryptocurrency will be good to use, we can purchase what we want using cryptocurrency, in which we don't need to go outside anymore just to complete our stuffs.

I hope that there are so many countries that accept bitcoin in their land because this is really important right now to prevent the risk of spreading the virus to each and everyone.

That's a great use of bitcoin in case of this situation we are facing. I can actually pay bills with my btc thru online with my digital wallet so I don't have to go outside and still cooperating by all means from the government's advice in this lockdown. Since I also do some signature campaigns and they also advice us to work from home, it's still a win-win situation for me.
 
 Good to hear you have introduced bitcoin to someone. Especially that btc is down atm then they can possibly buy at low and hold it until the price goes up. While others are using bitcoin wisely, other's don't want to spend their bitcoin in this market situation.

Investing in Bitcoin when you are doing poorly financially is a really bad thing to do, you can't afford to gamble in that position. Even if Bitcoin goes to the moon in a few years, there will likely be a lot of uncertainty soon. Campaigns are also bad - they don't pay much and you have to be a high ranked member to join them, so it takes time and a lot of work to rank up (earn merit). You should have instead pointed him to crypto freelance platforms, but even those things aren't going to help much, the traffic over there is very small.

Bitcoin isn't a solution to any financial problems, it was created to solve only one problem - the problem of freedom. For example, if you want to leave a country and take your money with you, then Bitcoin can help.

The lockdown is used to delay the virus, yes it's not a guarantor to stop it but what our government is planning is to wait until the recent vaccine that's been submitted for testing gets approved. I think that's they're planning to do.
If they dont implement a lock then it will be a huge massacre like in Italy.
As for me, Bitcoin is helping a lot especially with no other sources of income and a family to feed. This is a third world country so $30 a week is enough.

One should not dive in crypto trading if he is still fresh in this market. He will just end up losing all his money. You are right, it depends on the understanding level of the person. Because crypto is very volatile and the movement is really unpredictable, you are taking high risk here. And I guess, this is not for newbies.

But one thing the OP suggested, by joining campaigns, is good. But it will take time for a new one to be oriented in this kind of activity. At least he is suggesting something here, an option to look at. 

This is a bit helpful since we can't actually go out to use some real cash to buy but we couldn't still use it either if there is a home quarantine. It's just like we can't really use some Bitcoin if the stores are closing due to the pandemic crisis, the same applies to the real cash though. Some stores are closing that's why people are panic buying already since the day that this spread all over the world I have noticed a lot of changes.

Personally, the only way I see bitcoin and cryptocurrency helping people in the quarantine country is through daily trading. And this has so many advantages and disadvantages depending on the understanding level of the person trading. But I don't really see bitcoin helping people during this lockdown. It takes a lot to understand daily trading of bitcoin in order to maximize profits...

It is true, sir. We need ATM for bitcoin withdrawal. If it's locked, how we can make it be cash. I think the government won't lock ATM because it has a vital role. I can't imagine how people will cash out once the government totally locks all bank facilities, including ATM.

I hope so. But we don't know how long this pandemic will be happening. I think it will be easier to stop once all countries have the cure in a sufficient number. And they have the technology to burn off the virus effectively.

Crypto would be the only option for countries that have no extensive use of digital currencies. And as banking sector closes, there would be no-one to verify those online transaction where bitcoin would come again as it's decentralized verification system would literally work from home. The only sectors people would need to continue working is power and internet. Which could be an issue to some countries.

Work from home, as a freelancer I've done this even before lockdown, so this doesn't really change much in my life. Unfortunately, there are many people out there who are bothered by this, we know, everyone has a different job and economic situation. I see this simple, not necessarily with bitcoin because this is not a simple thing that can be learned quickly, we should prepare savings and emergency funds to deal with unexpected bad conditions like this. As much as possible also share with others in need, many humanitarian organizations that raise funds, we can help even if a little.

Depend on the country in my country you can use it to widraw directly to your bank account so its big help for us mostly this time. You can also convert your crypto to our local currency and widraw in remmitances .

And this lockdown time every remitances and bank is open so your crypto can be use as emergency funds incase you needed it and you dont have enough budget that you can use to buy basic needs like foods.