Is Covid-19 carrying the growth in digital currencies? - page 3.

Renampun

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Quote from: shadow123 on June 05, 2021, 06:55:21 AM

As a result of Covid -19, in payment preferences, Many companies and authorities around the world are increasingly looking at digital currencies as an alternative way to make transactions in digitalized world. So guys what do you think about ? How will be easy the day today life after adopting for digital currencies?

from what I see on online news sites, it shows transactions with digital currencies are growing rapidly...

This pandemic pushes us to accelerate digital transformation, the entire world's population is faced with the worries of this pandemic which is still unresolved. surely this year the habit will grow bigger.

Smitty Werben Man Jensen

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Quote from: michellee on June 07, 2021, 03:24:34 AM

Quote from: awik p on June 07, 2021, 02:39:11 AM

Quote from: lienfaye on June 07, 2021, 01:44:29 AM

Even before this pandemic happened, digital payments are already popular here however it doesnt mean crypto is the first option for this. Online bank applications, paypal and other platforms are some of the preferred option when making a transactions online.

Crypto get the attention of many people during pandemic not as an alternative for digital payments but rather an investment opportunity wherein we can earn money due to volatility. Its a fact that crypto or btc specifically are best known as an investment, an speculative asset which can give investors huge gains when the market is bullish.

right, cryptocurrencies are becoming more popular because of the bulls. especially when it happened while the pandemic was still ongoing. this may have something to do with the pandemic and the bullrun, considering that many people want to make money while staying at home

If bitcoin can get a bull run, it can get more attention from people and see that bitcoin can be their new investment besides gold. It can attract them to start investing in bitcoin so they can take benefits from bitcoin. What happens to bitcoin in the last ATH makes many people open their eyes that bitcoin can reach that high price. But bitcoin is not yet become a new payment system because that will be related to government approval. But in the future, bitcoin and the other coin can be the next digital payment system.

Even if you see until now it seems that more and more people are investing in cryptocurrencies, especially bitcoin,
especially seeing the price of bitcoin from year to year is increasing, of course this makes many people interested in investing,
I really hope bitcoin can soon become a legal payment system even though it's not easy

Yamifoud

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Quote from: shadow123 on June 05, 2021, 06:55:21 AM

As a result of Covid -19, in payment preferences, Many companies and authorities around the world are increasingly looking at digital currencies as an alternative way to make transactions in digitalized world. So guys what do you think about ? How will be easy the day today life after adopting for digital currencies?

It was pretty obvious that it helps a lot for digital adoption, not only in crypto but also in some digital systems.
Maybe we could say it was a blessing in disguise because as the Covid-19 arrives we have noticed a massive adoption to the digital world. I don't how it's going but it was to believe that crypto especially Bitcoin simplified some of our works which is the highlight of its existence. But we don't know what will happen next when the crisis ends and we're not sure if people are still using Bitcoin.

iv4n

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Quote from: el kaka22 on June 07, 2021, 04:34:45 AM

The fact is that there were tons of people who had chance to meet with crypto for the first time. They heard about it, and they knew about it but they didn't put any money in it, this pandemic period allowed a lot more people to go into crypto, google trends broke records, there are now more people involved in crypto than any other time in history, so I do understand why people are making a big deal out of this, however the reality is that we are talking about a positive that impacted the price as well, that is the most important part.

During the march of 2020 when the price went low, it went under 4 thousand dollars, when we reached our peak it was 64 thousand dollars, so between march 2020 low to our peak that is over 16 times the increase, that is not something we could have done without the pandemic, and I believe we will probably never have that type of increase ever again. Sure we will have increases but not as much as x16 increase, not anymore.

One more fact, many people had a lot of free time for the first time in many years, with one little catch, you must spend your free time inside your home! As expected, many people started to spend more time on the internet, to discover new things and ways for earning some money, making investments, or just for fun!

Your math is simple and easy to understand El kaka! We will never see Bitcoin rising hundred and thousand of percent again as it happened in 2012! So I guess it will be hard to see x16 again.... but, if we see only x10 from this price, the next ride can take Bitcoin to $300k!

Oasisman

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Quote from: lienfaye on June 07, 2021, 01:44:29 AM

Even before this pandemic happened, digital payments are already popular here however it doesnt mean crypto is the first option for this. Online bank applications, paypal and other platforms are some of the preferred option when making a transactions online.

Crypto get the attention of many people during pandemic not as an alternative for digital payments but rather an investment opportunity wherein we can earn money due to volatility. Its a fact that crypto or btc specifically are best known as an investment, an speculative asset which can give investors huge gains when the market is bullish.

This explains well.
Digital payments has already been done by most of the first world countries, and even in the 3rd world countries way before the pandemic.
The only reason why Bitcoin becomes more popular during lockdown is because people are actually looking for income through the internet.
The only people who are using Bitcoin as a medium of exchange are those early adopters and Bitcoin supporters, and there are only a few of them. The rest is just investors who considered Bitcoin as a store of value.

el kaka22

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The fact is that there were tons of people who had chance to meet with crypto for the first time. They heard about it, and they knew about it but they didn't put any money in it, this pandemic period allowed a lot more people to go into crypto, google trends broke records, there are now more people involved in crypto than any other time in history, so I do understand why people are making a big deal out of this, however the reality is that we are talking about a positive that impacted the price as well, that is the most important part.

During the march of 2020 when the price went low, it went under 4 thousand dollars, when we reached our peak it was 64 thousand dollars, so between march 2020 low to our peak that is over 16 times the increase, that is not something we could have done without the pandemic, and I believe we will probably never have that type of increase ever again. Sure we will have increases but not as much as x16 increase, not anymore.

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Quote from: awik p on June 07, 2021, 02:39:11 AM

Quote from: lienfaye on June 07, 2021, 01:44:29 AM

Even before this pandemic happened, digital payments are already popular here however it doesnt mean crypto is the first option for this. Online bank applications, paypal and other platforms are some of the preferred option when making a transactions online.

Crypto get the attention of many people during pandemic not as an alternative for digital payments but rather an investment opportunity wherein we can earn money due to volatility. Its a fact that crypto or btc specifically are best known as an investment, an speculative asset which can give investors huge gains when the market is bullish.

right, cryptocurrencies are becoming more popular because of the bulls. especially when it happened while the pandemic was still ongoing. this may have something to do with the pandemic and the bullrun, considering that many people want to make money while staying at home

If bitcoin can get a bull run, it can get more attention from people and see that bitcoin can be their new investment besides gold. It can attract them to start investing in bitcoin so they can take benefits from bitcoin. What happens to bitcoin in the last ATH makes many people open their eyes that bitcoin can reach that high price. But bitcoin is not yet become a new payment system because that will be related to government approval. But in the future, bitcoin and the other coin can be the next digital payment system.

awik p

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Quote from: lienfaye on June 07, 2021, 01:44:29 AM

Even before this pandemic happened, digital payments are already popular here however it doesnt mean crypto is the first option for this. Online bank applications, paypal and other platforms are some of the preferred option when making a transactions online.

Crypto get the attention of many people during pandemic not as an alternative for digital payments but rather an investment opportunity wherein we can earn money due to volatility. Its a fact that crypto or btc specifically are best known as an investment, an speculative asset which can give investors huge gains when the market is bullish.

right, cryptocurrencies are becoming more popular because of the bulls. especially when it happened while the pandemic was still ongoing. this may have something to do with the pandemic and the bullrun, considering that many people want to make money while staying at home

lienfaye

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Even before this pandemic happened, digital payments are already popular here however it doesnt mean crypto is the first option for this. Online bank applications, paypal and other platforms are some of the preferred option when making a transactions online.

Crypto get the attention of many people during pandemic not as an alternative for digital payments but rather an investment opportunity wherein we can earn money due to volatility. Its a fact that crypto or btc specifically are best known as an investment, an speculative asset which can give investors huge gains when the market is bullish.

bittraffic

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Quote from: Vaskiy on June 07, 2021, 12:42:24 AM

Quote from: Kong Hey Pakboy on June 06, 2021, 11:06:17 PM

This pandemic is just one part of it so I don't think that it is right to say that the pandemic is the only reason for the growth of cryptocurrencies. Maybe it did contribute big time since the lockdown to prevent the spread in the pandemic made people go online more ofthen than usual and they will probably encounter them on their online escapades.

Agreed, due to the pandemic almost everything has begun to operate through internet. This has made people explore the internet much than the regular time. Another thing earning, people are jobless and are in need of money. This is also a reason why people got into cryptomarket. In my view, if there is no lockdown the spread could've happened even worse. Same time the spread about cryptocurrencies might've not happened as what we experience at the moment.

There are already digital currencies before Bitcoin and before the pandemic so are already people using digital currencies but when the pandemic came, more people are up to use it so they could avoid holding banknotes that are blamed to be spreading the virus.

Bitcoin so far isn't still attractive even being one of the digital currencies because it's not easy to buy BTC. The use of cashapp increased though.

Vaskiy

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Quote from: Kong Hey Pakboy on June 06, 2021, 11:06:17 PM

This pandemic is just one part of it so I don't think that it is right to say that the pandemic is the only reason for the growth of cryptocurrencies. Maybe it did contribute big time since the lockdown to prevent the spread in the pandemic made people go online more ofthen than usual and they will probably encounter them on their online escapades.

Agreed, due to the pandemic almost everything has begun to operate through internet. This has made people explore the internet much than the regular time. Another thing earning, people are jobless and are in need of money. This is also a reason why people got into cryptomarket. In my view, if there is no lockdown the spread could've happened even worse. Same time the spread about cryptocurrencies might've not happened as what we experience at the moment.

davis196

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Quote from: shadow123 on June 05, 2021, 06:55:21 AM

As a result of Covid -19, in payment preferences, Many companies and authorities around the world are increasingly looking at digital currencies as an alternative way to make transactions in digitalized world. So guys what do you think about ? How will be easy the day today life after adopting for digital currencies?

Are we living in 2020?Last year,the forum was full with users asking the same question multiple times.
Will the pandemic boost digital currencies?Well,there's no simple answer to your question,OP.
What do you mean by "digital currencies"?Paypal,Cashapp,Venmo,or cryptocurrencies?
They are not the came.You will have to learn to distinguish them.
To be honest,I don't have enough statistical data to answer your question.

Reid

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There's is no doubt life will be easier that way. Digital currencies as in "fiat" digitized right?
Credit cards made life easier and so does paper money instead of carrying a lot of gold in your bag.
Everything must improve and here goes computerized money being offered for faster and easier transactions.

I think that's one of the good effects of this damn sickness worldwide. We looked for options in a rush so that our economy won't perish.
If it did not happen, we might still be in slow motion and be hard-headed with traditional ways. We adapt.

Kong Hey Pakboy

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This pandemic is just one part of it so I don't think that it is right to say that the pandemic is the only reason for the growth of cryptocurrencies. Maybe it did contribute big time since the lockdown to prevent the spread in the pandemic made people go online more ofthen than usual and they will probably encounter them on their online escapades.

Hippocrypto

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Quote from: shadow123 on June 05, 2021, 06:55:21 AM

As a result of Covid -19, in payment preferences, Many companies and authorities around the world are increasingly looking at digital currencies as an alternative way to make transactions in digitalized world. So guys what do you think about ? How will be easy the day today life after adopting for digital currencies?

Indeed, cryptocurrency is the best alternative that I've vision out as adoption will take over in the next coming years. This will have a huge advantage to provide people what they needed to, particularly to avoid close contact for physical money exchange when you buy goods at local stores. Online payment is a great ways to divert from physical payment towards digital currency transaction.

CryptocurencyKing

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Well, no doubt that the pandemic which did result in an initial fall in the prices of coins in the market was followed by a massive growth in the later months. As the stay at home policy motivated people to look out for online sources of income in the like s of cryptos and forex.
We can't completely make a relativism between the pandemic and the growth of cryptos in that yeah being 2020 which did extend to 2021. There were other events that took place in that year too, like the exchange hacks, bitcoin halving, etc and they all contributed to a large extent.
Musk coming opening to tweet on his dealings and investment in cryptos is the latest of these events. Its also how crypto got to fall so low as well. Though, the rise is coming still.

dark1234

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Quote from: shadow123 on June 05, 2021, 06:55:21 AM

As a result of Covid -19, in payment preferences, Many companies and authorities around the world are increasingly looking at digital currencies as an alternative way to make transactions in digitalized world. So guys what do you think about ? How will be easy the day today life after adopting for digital currencies?

yes.... of course it is very influential, we can see a number of digital currencies (cryptocurrencies) continue to show their luster in the midst of the economic slowdown caused by the covid-19 pandemic. Dogecoin and aurora for example, these two crypto assets experienced gains of almost 100 percent and 300 percent respectively in one trading day.

This condition further complements the shine of digital currencies during the pandemic and the new normal. At the beginning of the pandemic, it broke out in March 2020 but unfortunately when there were Elon Musk's tweets and the attitude of the Chinese state, bitcoin and others began to decline so that there was a market correction like today

sana54210

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Quote from: Viscore on June 05, 2021, 01:06:31 PM

Covid-19 brings negative effects to the people and that's undeniable. But when it comes to cryptocurrencies, this Covid-19 has unjusexpectedly increased the awareness of people and bring them more closer to digital transactions where it is much encourage this time to avoid the fast spread of virus.

Some countries may have been into digital currencies even before this pandemic but it gained more growth and adoption when this covid-19 started to attack people. It made me realized that covid-19 is not just all about pains and deaths, somehow it made crypto more stable through the support of institutional investors and great things followed for crypto in this time of pandemic.

I would think that pandemic just "speed it up" because I believe it would have happened one way or another in the long run anyway. I am not saying that we are not getting some benefits of the pandemic because we did see a lot of benefit in the crypto world but the regular life was so much harder that I am not sure if things are still that good, it is like balancing each other out instead of being full on negative. People in fiat were on full on negative, we at least had a balancing situation.

Now that pandemic is not as much of a threat in most major nations compared to past thanks to vaccination, we can clearly see that it impacts the price as well, people do not want to be involved in crypto as much as they used to and that is why the price is having hard time recovering this time. I hope that humanity is in better position, I would rather have bitcoin at 1000 dollars and everyone healthy instead of the current situation.

BIT-BENDER

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Quote from: shadow123 on June 05, 2021, 06:55:21 AM

As a result of Covid -19, in payment preferences, Many companies and authorities around the world are increasingly looking at digital currencies as an alternative way to make transactions in digitalized world. So guys what do you think about ? How will be easy the day today life after adopting for digital currencies?

I am up for the adoption, but there are other cashless ways at the footsteps of people trying to transact to prevent contracting the covid 19 pandemic by the touch of Physical Money contact.
Bitcoin would only be more reason to continue with Crypto-currency for people who are already excited about it.
Covid 19 is just the disease scare awareness of not going cashless, and going cash less means not using, Note/coin or physical trade exchange and of course crypto-currency.

Rono

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There are lots of things which may people drag into crypto currency.A very first thing is popularity of bitcoin which may people has interested to Digital currency.Crypto currency called next generation money and many famous people like John McAfee,Elon Musk and many more people already join into this platform. So lots of their fan follower make an interested on crypto.Crypto currency make large transaction and many more secure system and no need to provide government your purpose of transaction and even Authority could not Control all of this system.Many more beneficial things in crypto currency but i think cryptocurrency own itself is popular . So I'm not fully accepted your opinion that causes of pendamic corona virus may take the people interested to bitcoin.

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