There could be an open possibility that after this covid-19 pandemic, Bitcoin adaptation will come that is when people will come into realization of the importance and usage of Bitcoin really is. Also, it could be possible to make happen once the economic state of each and every country will come into a recovery because there is a need of funding to be able to adapt on using Bitcoin of course. But that was an open possibility only because there might still be countries who will still stick into their national currency for they still do not understand the real essence of Bitcoin.
Here in my country, although we are not prohibited and not encourage by our government, we can still make use of Bitcoin but only on our own risk because our government have a different point of view towards using cryptocurrencies. Also, there are still ways our people can access their money on a cashless manner like using debit/credit card, mobile banking and use of apps to access their funds. But for other countries who have fully adapt Bitcoin, surely there would be a wide to massive usage of it.
Topic: Is global adoption of Bitcoin possible post-Covid? (Read 755 times)
The global adoption should have increase if the economic situation in the world has improved. The space is adopting more online transaction which Jeff Bezos himself has enjoyed, $75 billion worth increase in covid era only. Gold growth had slowed than recently while bitcoin seem to have made more profit and recovery in price in last 3 months from Corvid. The digital looks more attractive with the ROI and the portability.
I’m glad that one of my friends raised this topic last night and then mentioned about bitcoin. He already knows that I am into bitcoin, but he wasn’t and was waiting for the right time to ask me about it so that I can introduce it properly to him. He asked whether it was a good investment, I made him know it’s a good one but there are risks just like other investments out there. He was already investing in low risks bonds, and after our discussion last night he’s also planning to invest little money in BTC
Myself, I wouldn't advise anyone on investing in anything, Bitcoin or otherwise. Basically, you can't give exact instructions on how to make money (as there are none). Then, if something goes wrong and your friend loses his precious shekels, he will blame you even if he won't reveal his feelings in the open. He will inevitably and unwittingly feel a grudge against you. If you now feel responsible for the feasibility of your advice and how it is going to play out for your friend (which you should), you can expect such an outcome
But ultimately, it is up to you, of course
I'm skeptical about this possibility. During a chaotic economic situation like the one described here people would find alternatives to preserve their goods, of course, but I think bitcoin isn't the first one in most minds... My guess is that people would prefer to put their money in properties to keep its value.
It's a very traditional and safe way to keep your money value. On the other hand, adopting bitcoin still has its risks and it can put your patrimony in danger the same way a broken economy does.
Yes you’re right about that, a lot of people in the country I live are going for properties such as land and buying a portion in real estate. Only a few people are talking about Bitcoin.It's a very traditional and safe way to keep your money value. On the other hand, adopting bitcoin still has its risks and it can put your patrimony in danger the same way a broken economy does.
I’m glad that one of my friends raised this topic last night and then mentioned about bitcoin. He already knows that I am into bitcoin, but he wasn’t and was waiting for the right time to ask me about it so that I can introduce it properly to him. He asked whether it was a good investment, I made him know it’s a good one but there are risks just like other investments out there. He was already investing in low risks bonds, and after our discussion last night he’s also planning to invest little money in BTC.
I'm skeptical about this possibility. During a chaotic economic situation like the one described here people would find alternatives to preserve their goods, of course, but I think bitcoin isn't the first one in most minds... My guess is that people would prefer to put their money in properties to keep its value.
It's a very traditional and safe way to keep your money value. On the other hand, adopting bitcoin still has its risks and it can put your patrimony in danger the same way a broken economy does.
It's a very traditional and safe way to keep your money value. On the other hand, adopting bitcoin still has its risks and it can put your patrimony in danger the same way a broken economy does.
I think the global acceptance of Bitcoin after Kovid is possible because every person in the world has suffered a lot because of the virus. Many are unemployed so if the government of that country supports the use of bitcoin people's lives will be much easier and no one will be disappointed with the loss of jobs.
Being in the bitcoin community I know it is great to adopt bitcoins and allow it's trading legally but how will bitcoins adoption help people who have lost their jobs during the pandemic? That seems out of my understanding because bitcoins is not something you would get for free once the government allow it to be purchased and sold legally.Since Bitcoin does not require any financial institution to complete the transaction and its transaction movements cannot be followed in any way Bitcoin is becoming increasingly popular worldwide. In addition to legal goods transactions the use of Bitcoin in drug smuggling and money laundering has also increased alarmingly Although Bitcoin has gained popularity as a digital currency it has been criticized by many for its sharp fluctuations in price against various international currencies its scarcity and its limited use in business.
That it so true and those smuggling and other terrorist activities have held back bitcoins from being bloomed to world wide adoption. As far as fluctuations are concerned I don't think anyone is too worried about them because being as asset being used as a currency there will always be value changes from time to time. Everyone just needs to understand that bitcoin is an asset not a currency and hence price will change as market demand and supply changes. The global adaption of Bitcoin after this covid-19 pandemic might be possible if and only if all are capable to adapt usage and if the government of each and every country will allow the legal usage and adaptation of Bitcoin.
Government might actually have to adapt a digital payment system because no touch payments will be more preferable in future considering how the virus can be spread through touching a person and let's be honest the corona virus is going to be with us for a long time until vaccine is developed.The problem government face with allowance of bitcoins is that there are more illegal activities because while decentralization offers benefits there are those downsides too where people can evade taxes since there is no way to know who holds how much money. If these challenges can be worked upon somehow then there is no way that bitcoins cannot help a cash-less economy.
The problem is once again what it has already been. Creating money out of thin air devalues money and creates Inflation. Now most of the investors around the world are worried regarding the demon of "INFLATION" . Now it's a well known fact that inflation backed without by any Economic Growth could lead the country into a hyper inflationary stage
You are looking at only one side of the coin
It is indeed a well-known fact that expansion in money supply should be accompanied, and ideally even preceded, by economic growth. However, this analysis is not all-encompassing as it doesn't include every possible situation. And while what you say is true in general, it is not necessarily true under current circumstances. That is to say, you don't take into account the sharp decline in consumer expenditures due to the quarantine
People don't work and thus they don't earn money. Then, they can't buy (as much as before), and that, if left unattended and allowed to develop on its own, would cause deflation. To avoid this, central banks are injecting liquidity into the system. In other words, the fiscal stimulus is to make up for the lost income and, by extension, the loss of demand. If this policy is carried out wisely and cautiously, it shouldn't actually lead to unbridled inflation, if any inflation at all
When people talk about Global Adoption of A Cryptocurrency, users that are knowledgeable about Cryptocurrency will already think about Bitcoin BUT it just won't work that way. We need to look or create a way where it is not just Bitcoin that is ready to be adopted into the world. We need them to be ready for the whole Cryptocurrency Industry and not just pertain to Bitcoin because as users know that there are a lot of opportunities in this Industry then what more could happen if it got introduced properly and cater a lot of attention. That would be a great advancement for the industry and it also instant promotion for a lot of Cryptocurrencies.
We can also see that some Cryptocurrencies are made by specifically helping those who are affected with the Pandemic and that would be great if it gets a lot more attention since its helping people.
We can also see that some Cryptocurrencies are made by specifically helping those who are affected with the Pandemic and that would be great if it gets a lot more attention since its helping people.
Probably the global adaptation of Bitcoin could be possible to come after this covid-19 pandemic if the people specially the government have come into realization of the real importance and usage of cryptocurrency really is; because even if the people would be wanting to use Bitcoin freely, but the government is becoming a big hindrance prohibiting people to use it, the urge of wanting to use and adapt Bitcoin will be nonsense since the government is the one ruling the nation.
I do not think there will be no need of any government part here; I mean government may remain as it is how it is doing for last ten years but bitcoin needs to prove its potential against slow economy conditions to convince people to adopt up to the level like main stream adoption.
In my opinion, only people need to find and decide about adoption of bitcoin regardless of where their government stands against bitcoin and its legal things. Still I agree, if governments legalize about bitcoin adoption then all will happen over the night. But, I believe that is not a necessary one because without government's nod as well we will have bitcoin to be a mainstream payment system.
The adaptation of Bitcoin could only be possible if the two parties (citizens and government) will both agree into a decision of using Bitcoin effectively.
Not actually. Government's decision will boost bitcoin adoption. If government remain against or neutral that will not stop bitcoin adoption happening but probably in slower pace.
Probably the global adaptation of Bitcoin could be possible to come after this covid-19 pandemic if the people specially the government have come into realization of the real importance and usage of cryptocurrency really is; because even if the people would be wanting to use Bitcoin freely, but the government is becoming a big hindrance prohibiting people to use it, the urge of wanting to use and adapt Bitcoin will be nonsense since the government is the one ruling the nation.
The adaptation of Bitcoin could only be possible if the two parties (citizens and government) will both agree into a decision of using Bitcoin effectively. Also, the adaptation of using Bitcoin could be possible if and only if all will be participating on adapting using it which will surely push through that the demand of the crowd must be followed. If the government agrees and the citizens will want to adapt using Bitcoin, then that is the time that it could be possible for Bitcoin to be adapted to be used after this covid-19 pandemic.
The adaptation of Bitcoin could only be possible if the two parties (citizens and government) will both agree into a decision of using Bitcoin effectively. Also, the adaptation of using Bitcoin could be possible if and only if all will be participating on adapting using it which will surely push through that the demand of the crowd must be followed. If the government agrees and the citizens will want to adapt using Bitcoin, then that is the time that it could be possible for Bitcoin to be adapted to be used after this covid-19 pandemic.
I think the global acceptance of Bitcoin after Kovid is possible because every person in the world has suffered a lot because of the virus. Many are unemployed so if the government of that country supports the use of bitcoin people's lives will be much easier and no one will be disappointed with the loss of jobs.
Since Bitcoin does not require any financial institution to complete the transaction and its transaction movements cannot be followed in any way Bitcoin is becoming increasingly popular worldwide. In addition to legal goods transactions the use of Bitcoin in drug smuggling and money laundering has also increased alarmingly Although Bitcoin has gained popularity as a digital currency it has been criticized by many for its sharp fluctuations in price against various international currencies its scarcity and its limited use in business.
Since Bitcoin does not require any financial institution to complete the transaction and its transaction movements cannot be followed in any way Bitcoin is becoming increasingly popular worldwide. In addition to legal goods transactions the use of Bitcoin in drug smuggling and money laundering has also increased alarmingly Although Bitcoin has gained popularity as a digital currency it has been criticized by many for its sharp fluctuations in price against various international currencies its scarcity and its limited use in business.
The global adaption of Bitcoin after this covid-19 pandemic might be possible if and only if all are capable to adapt usage and if the government of each and every country will allow the legal usage and adaptation of Bitcoin. We all know that there are countries who prohibit using cryptocurrencies even Bitcoin because of their own valid reasons stated by their governments. But if the government of different countries have come into realization that using and adapting Bitcoin will be beneficial for cases like this, it can be possible that the world will adapt using it for good. As of now, what we need to put more focus is first the solution we can attain at this very point of time and then maybe at the right moment, people will realize the importance of using cryptocurrencies most specially Bitcoin so that if ever another thing like this Pandemic would happen once again, (which must no happen as much as possible) then we already have cryptocurrency (Bitcoin) to rely on.
The borrowing from the International Monetary Fund is a disaster.
That fund imposes a lot of catastrophic restrictions that burden many countries, so countries will not borrow from it.
you mean the World Bank because it is the one that grants loans and finances and not like the monetary fund that has harsher terms.
Countries will sell their reserves of gold and silver, and countries with the least reserves will print the money.
Printing more money will damage their economy itself because it will result into hyperinflation so getting loan is better than complete collapse.But selling their reserves could be a better option, anyway life after covid 19 is going to be tough because countries will starts to ask more taxes to compensate with the early losses so people might be thinking about moving to cryptos as soon as possible. That fund imposes a lot of catastrophic restrictions that burden many countries, so countries will not borrow from it.
you mean the World Bank because it is the one that grants loans and finances and not like the monetary fund that has harsher terms.
Countries will sell their reserves of gold and silver, and countries with the least reserves will print the money.
Yes global adoption of bitcoin is possible but I think not during this time because many of us lose our jobs and livelihood because of covid-19 pandemic, our money just enough for everyday necessities like food.
I think these issues are already what Bitcoin is striving to fight with but in current times they seem to be more deadly. Bitcoin is providing a practical solution for it at-least as a stable alternative to Fiat.
The inflation rate might be able to supress depending on the economy growth. The higer rate of economic growth of a certain country the lesser inflation rate will apply or none at all.
However, promoting economic growth is not that easy that is why most of the country had been such into a huge debt. It made worst due to pandemic to which it started from china. I hate these chinese people eating bats. Grrrrr...
It is very possible that adoption of Bitcoin will occur after the pandemic, because everyone will change their way of thinking. Which is the investment
world increasingly considered important. And one of them is investing in Bitcoin will be the best choice for investment, because besides not being
affected by the pandemic. Bitcoin can be a solution as a source of income in the midst of an economic crisis like now, then the other benefits of Bitcoin
can prevent COVID-19 deployment. Because all Bitcoin transactions are carried out digitally.
world increasingly considered important. And one of them is investing in Bitcoin will be the best choice for investment, because besides not being
affected by the pandemic. Bitcoin can be a solution as a source of income in the midst of an economic crisis like now, then the other benefits of Bitcoin
can prevent COVID-19 deployment. Because all Bitcoin transactions are carried out digitally.
This pandemic has opened many eyes to the emergence of blockchain. The query for Bitcoin and other alternative coins have skyrocketed during this period and that is indication that people are looking towards alternative. Blockchain is here for the change that is most deserved.
I hope so, but there are still a lot of countries who are not joining in the use of cryptocurrency in their economy.
We can't please everyone to use bitcoin that easy because it is a process that we need to do in order to persuade them and make them become interested in the advantages of using bitcoin. VOLATILITY is a nature of bitcoin and we have nothing to do about it but we can manipulate our assets properly to lessen our mistakes.
Once we already achieve this global adoption of bitcoin in the near future, hopefully, the altcoin also have an opportunity to become recognized globally as an alternative source of profit.
It is just a matter of time for those countries that are still hesitant with crypto to make this as legal part of their economy. As other progressive countries are accepting crypto as part of their system, others will soon follow when they will see the impact of it in the economy. And owed to this pandemic, a lot of entities are seeing now the benefits of using crypto even as one of the payment methods. I believe more merchants will integrate crypto as their payment method to avoid contact with their customers.
i like the suggestion of using crypto for merchants but that is also possible if crypto is already legal on that country . why not government see this a reason for them to legalize btc . they can disregard the negative effects of crryptos for a while .
global adoption during this crisis times can be possible in the form of using crypto as a payment method to avoid direct contact , also increase the exposure of crypto related markets online .
This pandemic has opened many eyes to the emergence of blockchain. The query for Bitcoin and other alternative coins have skyrocketed during this period and that is indication that people are looking towards alternative. Blockchain is here for the change that is most deserved.
I hope so, but there are still a lot of countries who are not joining in the use of cryptocurrency in their economy.
We can't please everyone to use bitcoin that easy because it is a process that we need to do in order to persuade them and make them become interested in the advantages of using bitcoin. VOLATILITY is a nature of bitcoin and we have nothing to do about it but we can manipulate our assets properly to lessen our mistakes.
Once we already achieve this global adoption of bitcoin in the near future, hopefully, the altcoin also have an opportunity to become recognized globally as an alternative source of profit.
It is just a matter of time for those countries that are still hesitant with crypto to make this as legal part of their economy. As other progressive countries are accepting crypto as part of their system, others will soon follow when they will see the impact of it in the economy. And owed to this pandemic, a lot of entities are seeing now the benefits of using crypto even as one of the payment methods. I believe more merchants will integrate crypto as their payment method to avoid contact with their customers.
Blockchain is one thing but crypto currencies are a whole another thing. With crypto being adopted too much and people using it a lot more common, I would say that it is quite possible that we could make a profit from it not in just money form but also in safety form as well. It is a decentralized thing that is independent from any government, it is touchless that you can send via your mobile phone to other people, it is electronic and secure and can't be hacked.
Basically everything that a regular fiat currency lacks exists in blockchain ruled bitcoin right now. That is why I believe that people should take a look at bitcoin not just in a way that could profit them more fiat currency, but in a way that they could just use that one alone without changing it to anything else.
Basically everything that a regular fiat currency lacks exists in blockchain ruled bitcoin right now. That is why I believe that people should take a look at bitcoin not just in a way that could profit them more fiat currency, but in a way that they could just use that one alone without changing it to anything else.
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