Topic: Will coronavirus encourage people to use crypto more thoroughly? - page 10. (Read 1140 times)
Not a chance, many will prefer their credit card more than using crypto right now and even the present crypto market condition is not encouraging, only those who have guts will buy crypto now
I've seen somewhere across the web, that China has been taking measures to protect physical banknotes/bills from getting infected with the coronavirus. After all, it's said that the virus could be transmitted across physical cash in circulation from one person to another. If the trend continues, people will look for other ways to spend their money safely without having direct contact with the virus. In this regard, digital payments prove to be a winner when it comes to sending/receiving money without exposing yourself to physical banknotes/bills that have could've been contaminated with the coronavirus. I believe that it could be a win-win situation for Bitcoin and other cryptocurrencies in the Blockchain space. Unless governments decide to start rolling their digital currencies to the world, everything will remain likely the same as it is today.
Not only China, but South Korea as well, https://finance.yahoo.com/news/south-koreas-central-bank-burns-100611189.html.
Do you think that the recent situation will encourage people to use (or rely) on crypto more thoroughly? What are your thoughts? 
Perhaps credit card is still the best options for many to used to make transactions cash-less instead of crypto. And not many stores readily accepts bitcoin maybe except Japan or Germany. So I highly doubt that crypto is going to be the main the payment system that is going to be use in this kind of situation.
I've seen somewhere across the web, that China has been taking measures to protect physical banknotes/bills from getting infected with the coronavirus.
If China is taking measure to protect their hard notes from infections from the virus, I think itvis indeed a great move. Since research has shown that the virus is airborne and can easily be transmitted even by touch. If the trend continues, people will look for other ways to spend their money safely without having direct contact with the virus. In this regard, digital payments prove to be a winner when it comes to sending/receiving money without exposing yourself to physical banknotes/bills that have could've been contaminated with the coronavirus
If situations are dare, of course it is only normal for ppl to seek for alternative to way of life. And in a situation like this, digital currency seem to be the only viable alternative to go. However, it is still very difficult and unrealistic to position a whole country on the use of digital currency. As much as we the people in this space would want for a better adoption and a far reaching penetration of cryptocurrency in daily life, government regulations and jurisdictional policies will not allow. Plus hard notes have come a long way in serving people, adopting crypto as an official currency is very unlike for any country around the world.
It is going to take generational adjustment before the acceptance and usage is lodged in people's ideas.
Do you think that the recent situation will encourage people to use (or rely) on crypto more thoroughly? What are your thoughts? Huh
To answer this question, I'd say No! I believe a country like China would prefer to mint new notes if they are infected rather than adopt crypto as official currency. 
No. Especially after the historical one-day bloodbath of many alts and BTC. Convincing people to get into BTC and alts right now is going to have 0% success.
Furthermore, we already have digital money. We have credit & debit cards. Why would I put my savings at this moment into BTC? I can't get to the local grocery store to buy some food or water. I can't give my family BTC if they're in need of money - I mean I can, but that would be of no help.
BTC is useless right now for those who are willing to refuge into some asset for long term protection, especially because you never know when exchanges could collapse and the services altogether. At least you know that other commodities have had a historical acceptance for barter, so you can consider that a safezone.
If nations are now going to release digital currencies, they're going to conquer the markets. Don't expect BTC to become the global currency or anything - that's not gonna happen. And as I said, the free fall of stocks & crypto will make a lot of people think that cryptocurrencies are a very bad idea. Time will prove they're not imo.
Furthermore, we already have digital money. We have credit & debit cards. Why would I put my savings at this moment into BTC? I can't get to the local grocery store to buy some food or water. I can't give my family BTC if they're in need of money - I mean I can, but that would be of no help.
BTC is useless right now for those who are willing to refuge into some asset for long term protection, especially because you never know when exchanges could collapse and the services altogether. At least you know that other commodities have had a historical acceptance for barter, so you can consider that a safezone.
If nations are now going to release digital currencies, they're going to conquer the markets. Don't expect BTC to become the global currency or anything - that's not gonna happen. And as I said, the free fall of stocks & crypto will make a lot of people think that cryptocurrencies are a very bad idea. Time will prove they're not imo.
I've seen somewhere across the web, that China has been taking measures to protect physical banknotes/bills from getting infected with the coronavirus. After all, it's said that the virus could be transmitted across physical cash in circulation from one person to another. If the trend continues, people will look for other ways to spend their money safely without having direct contact with the virus. In this regard, digital payments prove to be a winner when it comes to sending/receiving money without exposing yourself to physical banknotes/bills that have could've been contaminated with the coronavirus. I believe that it could be a win-win situation for Bitcoin and other cryptocurrencies in the Blockchain space. Unless governments decide to start rolling their digital currencies to the world, everything will remain likely the same as it is today.
Do you think that the recent situation will encourage people to use (or rely) on crypto more thoroughly? What are your thoughts?
Do you think that the recent situation will encourage people to use (or rely) on crypto more thoroughly? What are your thoughts?
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