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.
Topic: Is global adoption of Bitcoin possible post-Covid? - page 2. (Read 823 times)
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.
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.
Yes definitely this is why I am saying a new technology is adopted only when people realize the demerits of the previous one. But there is another thing that until now markets have managed to pick up the pace once again post covid but I still feel there would a big crash incoming because even after such a huge lockdown and zero sales of many companies for months it's hard to imagine that their prices won't tumble. I think things might unfold after results of first quarter.Now they are looking more at the problem.
Perhaps it's time to change the system.
But I doubt the government will push that to happen.
They will look for other ways first until there will be no more. That's when bitcoin will come in.
So yes, it is possible but I don't think post-COVID just yet.
Perhaps it's time to change the system.
But I doubt the government will push that to happen.
They will look for other ways first until there will be no more. That's when bitcoin will come in.
So yes, it is possible but I don't think post-COVID just yet.
The government will certainly do research first before establishing a new system by adopting bitcoin. There's a lot to consider about bitcoin voting. Other ways besides using bitcoin may continue to appear. Until now digital payment platforms other than bitcoin and cryptocurrency are still very popular. It will indeed take a long time to make bitcoin adopted as an alternative payment tool. But at this time in my country bitcoin is only getting regulation as a commodity asset and not allowed as a legal payment tool.
Social media is now a great weapon. Perhaps we could enlighten them on the truth about bitcoin and not just as an investment option.
It's a good start to push a government. By how the people will react.
Social media is also a need for bitcoin. Like a knife that is used to hurt people and is used for cooking. There will be positives and negatives. It's a good start to push a government. By how the people will react.
People's reactions will vary depending on the understanding they know about bitcoin.
This pandemic might have little effect on bitcoin, but it doesn't look that big.
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 think your points are valid and that in the case things go like you've stated, bitcoin can be seen as a solution for several of those problems, nevertheless bitcoin is already a solution for a lot of the world problems and we don't see adoption happening anytime soon...
I agree with the user that said that adoption will come with or without the chaos, it can simply happen with the natural evolution of economy...
Yes. Global adoption for bitcoin will eventually happen but it will just take more time for it to be possible. For now, i don't see chances that this will happen with this pandemic time or post covid but hopefully in the future. But i must say that this pandemic has opened the eyes of a millions of people into crypto world and all its advantages that most of them didn't even know before. I agree with the user that said that adoption will come with or without the chaos, it can simply happen with the natural evolution of economy...
Now they are looking more at the problem.
Perhaps it's time to change the system.
But I doubt the government will push that to happen.
They will look for other ways first until there will be no more. That's when bitcoin will come in.
So yes, it is possible but I don't think post-COVID just yet.
Perhaps it's time to change the system.
But I doubt the government will push that to happen.
They will look for other ways first until there will be no more. That's when bitcoin will come in.
So yes, it is possible but I don't think post-COVID just yet.
The government will certainly do research first before establishing a new system by adopting bitcoin. There's a lot to consider about bitcoin voting. Other ways besides using bitcoin may continue to appear. Until now digital payment platforms other than bitcoin and cryptocurrency are still very popular. It will indeed take a long time to make bitcoin adopted as an alternative payment tool. But at this time in my country bitcoin is only getting regulation as a commodity asset and not allowed as a legal payment tool.
Social media is now a great weapon. Perhaps we could enlighten them on the truth about bitcoin and not just as an investment option.
It's a good start to push a government. By how the people will react.
Social media is also a need for bitcoin. Like a knife that is used to hurt people and is used for cooking. There will be positives and negatives. It's a good start to push a government. By how the people will react.
People's reactions will vary depending on the understanding they know about bitcoin.
This pandemic might have little effect on bitcoin, but it doesn't look that big.
The global adoption is possible, but not likely to happen. People are ready to buy volatile assets like Bitcoin when they have extra money. At the same time only few countries offered direct stimulus payments to all residents.
I think your points are valid and that in the case things go like you've stated, bitcoin can be seen as a solution for several of those problems, nevertheless bitcoin is already a solution for a lot of the world problems and we don't see adoption happening anytime soon...
I agree with the user that said that adoption will come with or without the chaos, it can simply happen with the natural evolution of economy...
I agree with the user that said that adoption will come with or without the chaos, it can simply happen with the natural evolution of economy...
I'm not sure what to say. Since there are no exact data about Bitcoin adoption I think that we can only guess in which extend pandemic has increased adoption or not. Possibly this pandemic was opportunity to increase Bitcoin adoption and to present to the people the advantages of cryptocurrencies, especialy in times like pandemic but II'm not sure this opportunity was used.
Somehow I have the feeling, although is just a feeling, that adoption isn't significantly bigger.
Somehow I have the feeling, although is just a feeling, that adoption isn't significantly bigger.
It was possible before covid and it is certainly possible post covid as well. What we should understand that adoption doesn't mean people all over the world stop using fiat and suddenly start using crypto as payment, we do not need that and that is not adoption, that is literally replacement. What we really should be looking for is people using crypto AND fiat at the same time which would be adoption.
People should have an option of using either crypto or fiat which means that if this option is offered in many places, that would be considered adoption. If we can go to that level in big places and becomes common everywhere, the price of bitcoin will go up a lot as well. I feel like stablecoins like USDT would make this easier for every place as well and allow everyone to both not get affected by volatility but offer an entry way to crypto as well.
People should have an option of using either crypto or fiat which means that if this option is offered in many places, that would be considered adoption. If we can go to that level in big places and becomes common everywhere, the price of bitcoin will go up a lot as well. I feel like stablecoins like USDT would make this easier for every place as well and allow everyone to both not get affected by volatility but offer an entry way to crypto as well.
I do not think it would be too hard, I mean look at what happened in 2008 and how we got here, look at any time when the markets are down, bitcoin is increasing its adoption. Just look at the transaction numbers, even if the price is not above $20k, we have more transactions today than those days, which means there are more sending and receiving of bitcoin.
Basically bitcoin world will get to a level where adoption will be inevitable and the whole world will offer that as an option, it will just take time. This will not change if it is covid or it is something worse or no covid or bad thing at all, whatever happens in the world, even if we get a lot worse, bitcoin will continue to increase its adoption, it will not stop. Only thing that could stop would be a corruption in the code itself and I do not see that happening at all.
Basically bitcoin world will get to a level where adoption will be inevitable and the whole world will offer that as an option, it will just take time. This will not change if it is covid or it is something worse or no covid or bad thing at all, whatever happens in the world, even if we get a lot worse, bitcoin will continue to increase its adoption, it will not stop. Only thing that could stop would be a corruption in the code itself and I do not see that happening at all.
We place too much of a responsibility on Bitcoin more than it can take lol. How exactly do you now think that countries will start adopting cryptocurrency because of the things you have mentioned here? Can cryptocurrency solve all these problems, really? If we will all be sincere here, cryptocurrency is not a solution in this kind of situation. There is more to this than adopting cryptocurrency. Cryptocurrency is only going to help us in peer-to-peer transaction around the world and there is nothing more, it’s not going to magically save every country in the world from falling due to pandemic.
When people think about saving their hard earned money not to be saved on highly inflated fiats then they can get into bitcoins still bitcoin will act here like any other store-of-value asset and cannot be a pure currency. So, global adoption of bitcoin may happen when people have excess money and think about saving for their better future. I am not foreseeing such a situation where people start think about saving into deflationary assert straight after the pandemic.
When people think about saving their hard earned money not to be saved on highly inflated fiats then they can get into bitcoins still bitcoin will act here like any other store-of-value asset and cannot be a pure currency. So, global adoption of bitcoin may happen when people have excess money and think about saving for their better future. I am not foreseeing such a situation where people start think about saving into deflationary assert straight after the pandemic.
Now they are looking more at the problem.
Perhaps it's time to change the system.
But I doubt the government will push that to happen.
They will look for other ways first until there will be no more. That's when bitcoin will come in.
So yes, it is possible but I don't think post-COVID just yet.
Social media is now a great weapon. Perhaps we could enlighten them on the truth about bitcoin and not just as an investment option.
It's a good start to push a government. By how the people will react.
Perhaps it's time to change the system.
But I doubt the government will push that to happen.
They will look for other ways first until there will be no more. That's when bitcoin will come in.
So yes, it is possible but I don't think post-COVID just yet.
Social media is now a great weapon. Perhaps we could enlighten them on the truth about bitcoin and not just as an investment option.
It's a good start to push a government. By how the people will react.
Now that, the whole world is in sort of an Economic Outrage due to Covid, It is worthwhile to note that every Government around the world has announced certain fiscal stimulus to boost up the economy once again.
Now here chances are that countries might have to lease out their territory to China as a repayment of these borrowings.
People around the world will realize that how easy it is for an economy to crash. 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.
Bitcoin is still striving to fight because of the current economic issues of every government. The effect of pandemic is the primary reason why many people are now suffering and also because of the gradual decline of the economy. Bitcoin could be a possible alternative solution for this but it needs more recognition and mass adoption.Now here chances are that countries might have to lease out their territory to China as a repayment of these borrowings.
People around the world will realize that how easy it is for an economy to crash. 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.
This is what's happening in India.
Since the people are inside their houses and don't have a job, it is said that they became interested in investing in cryptocurrencies as some stocks are also falling down while Bitcoin and other cryptos are not that affected by it. As we can see right now, the market is growing because of the adoption of Indians to it. I hope they don't ban it and we might see a continuous positive effect of it in the near future.
Although bitcoin is highly valued at this time, I still believe that it cannot be a common currency. because its value is always fluctuated very strongly every minute. no one would want to keep such a volatile asset class. If fiat money is really unstable and easily hurt the economy, we will return to Gold Standard. We have a lot of better assets to trade than using crypto, an asset that is easily manipulated.
Global adoption of Bitcoin is not possible post-Covid-19 because It requires time and some of its features to be changed and refined. Before the Global adoption of Bitcoin, It is important for everyone to know and understand it. Governments of different countries need to formulate different policies related to its management and revenue collection. Moreover, in order to spread it globally as a universally accepted medium, it needs to be converted into a stable currency by rolling out its price volatility. Because Bitcoin price volatility is popular with traders but it will lose its acceptability to the general public due to its volatility. Moreover, the cost of its transactions is comparatively high and somewhat time-consuming and in the case of conventional currency, no transaction cost is needed in case of hand to hand transactions. So it can be said considering all these issues that it is not possible to do it suddenly.
Now that, the whole world is in sort of an Economic Outrage due to Covid, It is worthwhile to note that every Government around the world has announced certain fiscal stimulus to boost up the economy once again.
Now here chances are that countries might have to lease out their territory to China as a repayment of these borrowings.
People around the world will realize that how easy it is for an economy to crash. 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.
Bitcoin is still striving to fight because of the current economic issues of every government. The effect of pandemic is the primary reason why many people are now suffering and also because of the gradual decline of the economy. Bitcoin could be a possible alternative solution for this but it needs more recognition and mass adoption. Now here chances are that countries might have to lease out their territory to China as a repayment of these borrowings.
People around the world will realize that how easy it is for an economy to crash. 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.
I will disappoint you, but everyone around you already knows that the world economy is like a house of cards - once the wind blows, everything will collapse.
no i didnt knew that yet but thanks for letting me know . economy is pretty weak as you define it but every country has its own weakness and strenghts , not all are the same .What does btc have to do with it?
Use as a means of payment in the domestic market between the buyer and the seller? There is no infrastructure, slow speed, lack of regulation, and so on.
btc is a money and are already part of the economy ever since we knew it . whether you like it or not , there will be btc users and they use thier btc for paying if not for investing .Use as a means of payment in the domestic market between the buyer and the seller? There is no infrastructure, slow speed, lack of regulation, and so on.
Use it for B2B calculation? Same.
And you should assume volatility. You bought a pizza for 0.0003 btc which is equal to 10 bucks, and after 5 minutes it is already 15 and you just can't stop crying. Well, maybe that's enough, huh? You are talking about inflation and as an alternative to trampoline offers Russian roller coasters. Everything okay?
well we knew that is volatile . people just take it or leave it . And you should assume volatility. You bought a pizza for 0.0003 btc which is equal to 10 bucks, and after 5 minutes it is already 15 and you just can't stop crying. Well, maybe that's enough, huh? You are talking about inflation and as an alternative to trampoline offers Russian roller coasters. Everything okay?
That is one of the flaws in OP's argument, the decentralize status of bitcoin is a big factor that every country should consider, in my opinion.
The decentralized nature of BTC is the reason why major governments around the world oppose crypto and BTC like crazy since they pose a threat to their own centralized currencies. This is the primary reason why most people around the world haven't adopted BTC yet since the governments don't let them through bans etc. Once the governments embrace them(Example: Indian government in recent times), adoption rates could go through the roof.
Also Indian government haven't embraced cryptocurrencies, they just started allowing banks to make the accounts of the companies related to crypto which were blocked back in 2018 by RBI, and this can also be temporary as the RBI has gained filed for re hearing of this case.
That is one of the flaws in OP's argument, the decentralize status of bitcoin is a big factor that every country should consider, in my opinion.
The decentralized nature of BTC is the reason why major governments around the world oppose crypto and BTC like crazy since they pose a threat to their own centralized currencies. This is the primary reason why most people around the world haven't adopted BTC yet since the governments don't let them through bans etc. Once the governments embrace them(Example: Indian government in recent times), adoption rates could go through the roof.
Jump to: