Bitcoin Forum

Corona Virus has been a big issue that disturbed everyone not only in China for months. But this outbreak never stopped and it continues to spread in the different country putting everyone in fear. With the huge number of cases, central banks had to quarantine their banknotes just to lessen the possibility of spreading the virus.

If you're curious, you can see the previous thread I started regarding South Korea quarantining and even burning their cash

February 15, lenders in China were asked by their government to disinfect their money for 14 days. Federal Reserve also trying to set aside US dollars from Asia for 7-10 days before including it in circulation. Also, the Bank of England advises its people to wash their hands after handling money because it can hold bacteria and viruses.

With this outbreak, a spokesperson of WHO said that “people should use contactless [payment] technology where possible.”



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It's obvious why he suggested it to prevent having contact with money that a lot of people had previously own. This brings a chance for cryptocurrency to be recognized by the government. Suggesting less physical transactions means that cryptocurrency can help with that. To avoid having contact with different people, we can use cryptocurrency for transactions that we don't have to touch any paper money or even have close contact with the people we're having a transaction with.

Those countries with a higher number of cases of the virus should try looking at this opportunity because even with a small part, it can help them and their people to keep themselves safe. Countries like China and Korea who have a great number of cases can adapt to these changes easily because they are a developed country. Instead of continuously putting their bills on quarantine, they can lessen the work if they would be willing to adopt it. Recently, Korea had legalized cryptocurrency which makes it easier for them to adopt it.

Money is the medium which is used by everyone in the world so it has been a primary reason why of a virus getting spread but this won't increase the adoption of cryptocurrency by the way because there are not many places we can spend actual cryptocurrencies so it is all about digital bank transactions.

Did you know that without considering COVID19 banknotes are already full of bacterias (i.e. staphylococcus)? It's also a great vector of Hepatitis C and that's how people get infected without knowing it.

In this case why not always put in quarantine the cash before going to circulation?
In the old-time to avoid contamination, Australia started to use banknotes done from synthetic polymer and a lot of countries followed the example.

If you think this quarantine of money can give a legitimate reason for governments and central banks to recognize the cryptocurrency.
Tell yourself they'll never use a currency that doesn't depend on a state and also, most central banks are working on their own CBDCs (central bank digital currency) which have a lot of better chance to be 'recognized' than crypto. In 5-10 years half of us will be using it.

So instead, perhaps COVI19 will just seed up the realization of this, why not...

I think cryptocurrency is far from the first thing that comes to the minds of government when they hear "contactless payment" - they would likely think about bank cards, PayPal, GooglePay and so on. There might some small chance that it will indeed lead to crypto recognition, but I think at times of the crisis no one will have time to think about crypto. And potential adopters might be scared off by crypto's volatility, as we see that crypto markets aren't doing well now.

I have been never been bug by the virus not until today when suddenly our country has confirmed 35 cases total, mix Chineese and local citizen, some are panicking already since this could also mean that the contact to contact is real and it could already gone too far. For now we cannot feel the tension because the numbers are small, sooner or later when it would be more than hundreds and counting then the country will be in a statee of calamity again, just recently it is because of a Volcanic eruption. If I were to ask- I would change all my money to crypto just to make sure that my valuable assets are safe.

It won't be safe from volatility though. Better diversify it to 3 or more assets such as gold (which is currently skyrocketing), bonds, etc.

That being said, I believe contactless payment alternatives other than crypto has been used since years ago. NFC payment card, or using your phone to pay is relatively familiar for South Korean for example. I won't be so optimistic about this. Better spend the time to develop and increase more nodes to strengthen the network.

I think in such an economic condition, bonds are risky too because if huge inflation happen (which is not impossible), bond will be returning nothing.

Yes, you are correct because most people don't know about crypto. In my country, people will take bkash as contactless transaction and it's available in most of the shops.

Yeah you are actually right the virus are getting spread quickly because of the primary currency that we are using in our daily lives. That why we need to use the digital bank transaction for our daily safety and its really easy to use and we need to spred it.

You have a point. Not everyone would want to take a risk on crypto especially when there's an issue like this. Like what you have said, there's a higher possibility that they would go with card payments but crypto payments can also be their option if they have or they want to. It's not necessary that they will shift from fiat to crypto. But since Korea has recently legalized crypto, it will give crypto a higher chance to be noticed by Koreans.



Even with the low number of cases, it still bothers me because of the incompetency of our government. Unlike other countries who can handle the situation very well, I'm afraid that this small number of cases will double in just a short period of time. We have limited test kits and not everyone is capable of handling the expense of going to hospitals. Look how our citizens act on this kind of situation, instead of helping each other, they're hoarding necessities and selling it at double price.

It's up to you if you want to put all of your money in crypto. But what I'm just trying to say is that crypto can be an option or alternative to lessen physical contact transactions and holding paper bills that have various bacteria.

Slowly but surely maybe some will switch to crypto as a means of payment because at times like this condition or being crunched crypto may be relied on but must go through contact, but this is still not fully acknowledged even though Korea has legalized crypto in other countries but other countries We have not yet received the presence of crypto, so it is still a negotiation, and is it possible that we will adopt many other countries, of course we know that.

Fiat money becomes an effective means of spreading the corona virus, so that from Fiat money the spread of this virus can spread quickly and be able to survive on fiat money for several hours. if WHO recommends the use of digital currencies, I think it is appropriate, in order to inhibit the spread of this virus, because this virus is always developing so that various climates in the world can become a nest

They are talking about "contactless payments" meaning cards, smart phones, etc. that use RFID or NFC.

They also said this so let's not go too crazy:



What about credit cards? They are apparently even more germ-infested than cash: https://www.fastcompany.com/90353937/hate-credit-cards-now-you-have-yet-another-reason-to

When I brought this up in a previous thread I created, people said I was stupid and I misuse significant events to hype Bitcoin use. See this thread - https://bitcointalk.org/index.php?topic=5224884.0 <Bitcoin can save some people's lives>

Now the WHO are saying the same thing and it validates my concerns raised in that thread.  ;) Just imagine what will happen if some terrorist find access to a Covid19 infected person and they start circulating infected Bank notes and coins. < You get suicide bombers, so I guess it would not be strange to get someone that would willingly infect themselves and their money to kill 1000's of people.>  >:(

I guess nobody would be able to do that with bitcoins, so it is just another advantage that Bitcoin has over Fiat <cash>  ;D

Money is dirtier than most objects. Imagine how many people will hold a single piece of paper bill or coin while it is in circulation. And for its whole life span, it is never disinfected. Any kind of people will use cash. Especially in my country and other developing countries, our money is very dirty; it is being used in transactions in wet markets, in street food stalls, in the public transportation, in buying food, in paying for a comfort room fee, and so on and so forth.

I guess this is the first time that I hear of cash being disinfected and even quarantined. For so long a time, it has always been a carrier of bacteria and virus that cause diseases. And as much as possible, I agree with WHO, we should really try shifting to digital payments. Crypto is, of course, a good option.

I guess it is just common sense, think about it if you lived in a place with corona virus would you prefer to exchange money on hand or would you simply prefer to do it digitally.

However, this doesn't mean that money has to be digital in crypto form, it could be very well debit card or credit card that you can use yourself instead of others or you can simply pay with an app reading a QR code as well and all that would be safe as well so I am assuming the number of that would increase instead of crypto numbers increasing.

Crypto would see a spike as well of course but not all that much to make any difference if you ask me. Adoption has been stagnant since 2017 peak times and the following bear, I haven't realized any big new adoption increase at all and doubt this will be the new one.

I think people are always overplaying what WHO says with regards to “contactless payments” in all the news I have seen so far. They make it look like this is the solution to stop the outbreak and this is the way not to get infected but the truth is banknotes are not even the ones soreading the disease but the people who are using them. WHO and dozens more of health organizations, health departments, and universities already claimed that hygiene is something we need to focus more on loke washing our hands thoroughly and cleaning surfaces woth disinfectants. Hygiene is so important that the doctors and nurses are not even recommending wearing a face mask for those who aren't infected. My advice is for you not to get carried away with the dozens of recycled news we have seen related to this.

Even here in India, there have been a lot of campaigns lately urging the users to go for digital payment options rather than physical cash. Unfortunately, when they mean "digital cash", they are referring to digital versions of fiat currency (such as PayTM, Google Pay.etc). Bitcoin is not being heard in any of the campaigns. My biggest fear is that the government will try to eliminate the usage of physical cash, giving the excuse of COVID 19. They can do surveillance on individuals, if they are forced to use the digital versions of fiat currency.

yes I also believe so, because digital money is now more dominant like paypal, visa, or other transactions.
while crypto for now people prefer to use it as an investment vehicle or commodity where they expect profit rather than as a daily transaction that is used fiat.that is why the corona virus has no effect on the crypto market.
but it impacts other sectors such as stocks, and industry, and the currency of each country.

This kind of approach is hitting two birds with one stone. It prevents the spread of the contagion and it also helps in promoting the use of cashless transaction, thus in turn promotes cryptocurrency which is a very big step for the establishment and stabilization of cryptocurrency to the general public.

Indeed :). It's WHO! That is not just a small celebrity or icon who is trying to hype the use of crypto but an international organization. It surely contribute a lot of positive feedback on crypto. For me this is the best form of advertisement we could get at this moment so let's cherish it while it lasts. I am not saying that I want the virus last longer, what I am pointing is I hope crypto will be adopt continuously even if the virus was totally cured. *sigh At least we can still see good things happening despite of the negativity in the first 3 months of 2020. God is good after all.

Since it has been already termed as a Pandemic , it's close to hitting an economic crisis . Paper money is a breeding ground for the bacterias , even though it can just serve as a mode of transportation for the viruses , it's still lethal , money would never be thrown away by people the least and it can go beyond the borders really fast.
Therefore it's only right if the people are using the online mode of payments since it's harmless , gives you instant discounts on most apps and malls , safe and widely accepted.
It's time for the credit and the debit cards to be out .

Well, I'm not sure how this is really helping to prevent the spread of virus. Money bills are not the only way or more dangerous how you can catch the virus.
However, I agree this might help that more and more people use cashles payment options and hopfuly that will turn into their habit even when virus will be gone.

This is not the first time that someone is recommending that people should make use of contactless payment. In fact it has been repeated a lot of times and I was thinking that by now that a lot of people would have recognized cryptocurrency, especially Bitcoin, and made it their choice but instead I noticed that they were all going for other payments like mobile banking, PayPal, and WeChat Pay (which is currently trending in China).

Where I live there is no place where you can make payments with Bitcoin, it’s mainly mobile banking and some kind of QR codes payments that are part of the services being offered by banks which customers can scan and make payments. Seems like cryptocurrency is not gaining recognition and it’s quite disappointing, the only places you can see Bitcoin being accepted is online.

Cryptocurrencies might be "recognized" by the government,but they can't beat credit/debit cards,Paypal,Transferwise,Skrill,etc. so your assumption is doesn't matter.
Bitcoin crashed by 50%!Do you think that people will use a "currency" that crashes by 50% after 2 days?
I don't see any retail merchant accepting crypto payments.Do you think they will accept a volatile currency as a payment method right now?

does crypto only mean bitcoin ? nope . there are other cryptos that are stable and there are those that dont crash hard yet these cryptos are okay to use for payment use more than bitcoin . its not about replacing or beating other digital payment methods but its about alternatives  .

in a situation that we are experiencing right now which is hard, people shouldnt think of the competition but they should think of the alternatives on how can we continue our lives without risking our selves.

Of course, it’s very logical to switch to digital payments, including any form of cashless payments, now, in the period of the rapid spread of coronavirus. In order to overcome the coronavirus, people need to go outside less, to touch paper money less, which can be carriers of this infection for a certain time. Cashless payment for goods and services in this case is a good way out. In particular, this will facilitate the use of a decentralized cryptocurrency, as well as stable coins.

Its time governments consider cashless transaction, not necessarily bitcoin or crypto but it would be great for governments to support cryptocurrency especially the government backed coins. For the purpose of avoiding the spread of the disease now that WHO is declaring it as pandemic. It has to start some country where their government allows crypto like Japan or Germany.

During this time, it is suitable and safe for all people to use digital payments such as crypto because of the threat of the corona virus. Since the virus cannot carried by air and the chances of getting it is more on droplets left in things, the use of fiat currency is at large. Using cashless payments does not mean any way out to the virus, it would just lessen the threat of the said problem but the thing is if everyone has it and know it. I'm afraid what this matter could bring if we do it hasty, we could possibly create another problem on different area without being foreseeing it.

To use decentralized cryptocurrency is just for short term solution to this kind of problem coz government would obviously change it later on. Why? Coz they literally don't want it.

Exactly. At times like this, we cannot still ensure that just because people are afraid of using paper money since it can possibly become a mode for the spread of virus due to physical contact due to the reason that many people's hands have already hold that money is that we can already promote the usage of cryptocurrencies because even if people would think using it as an option, but still many countries are lacking for adaption of using it since not all people are aware or are being able to know how to use it since most people are evenly using fiat ever since. Also, even at this time of crisis, there are still other ways on how you can be able to pay your goods and services by doing digital banking or using apps to scan the QR code to be able to send payment or if not, using credit cards will also do. But, the point is, there is really a reason why WHO promotes or encourages everyone to use digital payments instead of paper money to prevent the spread of virus. But since not all people can afford it specially for those people lying or classified to belong in a poor society, where they cannot afford doing digital payments, people would really use paper money so sanitizing after receiving money will at least do to stop the spread of virus.

This is really what we need right now, promotion of bitcoin during this pandemic, this is the right opportunity for us to suggest using cryptocurrency in many transactions as a payment. There are a lot of people who are struggling right now just to pay their bills, electricity, water, internet and other bills that needs to be paid by the consumer.


The idea of digital payments are a huge help for the safety of transactions, there are times where people aren't knowledgeable about how dirty a fiat money is. Sometimes we need to be careful of the things that we are holding because the virus can easily stick to the surface so always sanitize your hands and things.

It is much guaranteed to use digital currency rather than physical money during these days for the safety of your health. Fiat money could be touched by thousands of people and you don't have any idea where it came  from.

Digital transactions are very ideal during this kind of pandemic as it is more safety compared to other way of payments. It is more risky right now to use fiat money in such person to person transactions, we need to learn and accept the fact we are engaging and getting the benefit of using cryptocurrency right now as our technology is advancing.

Paper money is the the dirtiest thing that you could imagine because of its movement in the community. Most of the people could've touched the paper money because it is moving in the market. Using digital currency can really help us to become less hassle in paying our balances.

People just really need to know the advantages of cryptocurrency in the economy and in the market so that we can help promoting it to our friends and families to become more safe from the risk of getting the virus through cash payments.

World Health Organization knows best for what will people can benefits in this pandemic so advising people to use alternative from Physical money can be considered as advantage to our community here.

Yeah Crypto is one of the best alternative now though PayPal has the dominace still yet we are starting to enter the mainstream as this Big organization are now mentioning our Currencies here to be advantageous in our important time now.
sorry but Government will never let a cashless society mate because Physical money is what they need to push,Paper money printing is what saves government from crisis like this.
for safe using?yeah i considered this as valid because more than anything we need no contact for this time and having cashless can help us prevent the spread of this virus.

Some of the countries will switch of digital currency after Covid situation as would try to make less contact with paper as much as possible. This would encourage them to switch to crypto and make use of them for the best possible reasons. Also, the demand of crypto will rise with this and as a result prices will also rise with increase in demand and consumption.

I think it is starting, not in crypto but in fiat. My city started using an E-wallet to distribute money to its people specially to those affected by the lockdown. 500k people received money through their e-wallets, including me. If there are people who don't have an E-wallet yet, the city will create an e-wallet for them using their phone numbers. So a lot of citizen here who doesn't even know that an e-wallet exist just received a text that they just received money to their e-wallets. They can pay their bills using the e-wallet too, or they can convert it to the nearest money outlets.

I just helped my parents verifying their first ever e-wallet.

Digital payments are indeed mandatory during COVID-19, because if financial transactions still use paper money, the spread of the corona virus
will continue to happen. Unfortunately, cryptocurrency in my country is prohibited as payment, so I only use it cryptocurrency as a digital asset.
And for digital payment, I have to use a digital bank transaction, so the transaction is enough done with a mobile phone.

I'm interested in hearing/reading more about this, do you have an article you could link me to so I could read more about the e-wallet (or would you mind telling me which area is it so I could look it up)?

I wonder how the elderly will get accustomed to this new e-wallet. I know tech has to advance and stuff and it sure does look like the only way everyone's pushing for is cashless, but this will be a very big headache for those older. I have family members who don't even know how to use a mobile phone. Give them an "e-wallet" and there goes the hunger :D

You can read this https://moneytransfercomparison.com/ewallets/

Hope it can help you, and also I think government should conduct a campaign to teach elderly about online payments since for sure there are so many elderlies doesn't know about the new technology and it can help them to lessen the risk since they are more vulnerable with the disease.

the problem is the governments in almost all countries are one step late in applying for massive digital payments..  I understand that to change the habits of people who for decades have been accustomed to using fiat money in transactions is almost impossible, but that does not mean it can not.  if education and direction is carried out by the government continuously for all citizens in each country then I am sure in the next 6 months, digital transactions will increase 70% worldwide..

Guys calm down, yes bitcoin is a digital payment platform but not all digital payments are bitcoin, there are plenty of other methods. For example right now banks are working overtime on making app payments a lot more common and adopted. That way the machines you use for credit card payments will show some sort of QR code that was generated, and with the QR code that generates you open your bank app on your phone and will be paying it. It is already happening here a bit more often, there is also cards that you do not even touch to pay and so forth.

Basically digital payments doesn't equal to bitcoin, just calm down. Millions of people literally learned to buy the grocery needs online as well, so right now we are even one more step closer to just buying everything online.

Yes, when we say digital transactions, not everyone will think of cryptocurrency. But because of this fear of getting affected by the virus, some people are already learning how to use e-wallets and other payment apps, which is a good stepping stone for digital payments. It gives more chances for cryptocurrency to be recognized because people are now adapting to digital payment. Maybe not now, but sooner cryptocurrency can also be an option by most people when it comes to transactions.

I have hope that the recognition of cryptocurrency will grow more after this. Until now, we are still facing the same issue and we are not sure until when we will have to continue living with this virus. If people are already practicing "new normal" ways of living, it's also better if they could also learn to use digital payment methods.

China's DCEP seem would lead all countries to also have a digital currency which I guess these digital currencies will be added to the markets also including the crypto market.

If all these will happen, the crypto market will be easy to access by regular people also and they will all be buying when they have access. Its the only reason why most of the people didn't buy BTC is because they have no idea where to start.

ah, i taught WHO said the virus can be  spread through person2person contact ,flight  ...ecc which lead them toward's locking-us down for months even in countries like Africa (NIGERIA) were they depend on a daily labour for survival. Citizen were LOCK-down by BUHARI without any tangible provision (food,sanitary..) by Govt or WHO.

Now, the virus has started spreading through money :o!!


well, well,


Note to WHO: you've asked me to atleast give 1 meter distance for safety measures. I giving 3 meters because i'm very generous. now, what next?

Thanks
Soldierwitlittlefaith

People should be really doing that but here in our place, this kind of payment is not really that easy. 2 stores accepts cards, how much more if we will be using mobile phones. People are still sticking to fiat even though it has a higher possibility of passing the virus to other people.

Sure, here's an article.  GCash to disburse financial assistance to 500,000 Makati residents  (https://www.yugatech.com/news/gcash-to-disburse-financial-assistance-to-500000-makati-residents/#sthash.fLA8Tum9.dpbs)

Same, a lot in my compound doesn't even own an android phone, all they had is a keypad phone. I hope they can borrow others phone so they can get their money. Actually the first choice is that the money will be given to our  MAKATIZEN CARD  (https://manilastandard.net/lgu/ncr/311212/makatizen-card-hailed-as-best-egov-program.html). However, only few of the citizens own this card because some didn't even see the use of this card when the city launch it last 2018 I think, now they know why it's important during this times. Those who already own a Makatizen card receive it in just days after the announcement.

Unfortunately, it will take a few weeks longer to receive the money if you don't own a Makatizen card yet, it takes longer to print a card. That's why Gcash(the e-wallet) is a savior. 6 days after online registration, you'll receive the financial assistance in your e-wallet. What's good is there's no deadline in applying for the program as long as they are qualified.

Fiat is the most common material that can easily transmit the virus we should stop using it and go cashless. This could be the perfect time to get rid of fiat and digital, people should start educating themselves about crypto and other digital payments.

It doesn't tell any direct relation with the cryptocurrency though we are talking digital payments however cryptocurrency is broad part of digital payment, actually it is the half of that since we only have digital fiat currency and cryptocurrency. Thus this will help to promote the cryptocurrency too with ease as most of people are turning digital now from basic transaction to online banking since there is a present heath concern and it's not that vague that people will get interested with cryptocurrency too.

It will going to, definitely. As doctors and scientists are studying this virus, I've read in a news that it might be a normal viral disease and it will become common even they develop a vaccine like measles and rubella, with this, there is a huge chance of digital payment system to be more active than ever.

Crypto would always remain as an option but surely wont able to get the spot light since we have been using credit/debit cards for how many years
or even decades.If this suggestion do talks about digital payments then people would just simply switch up to e-fiat transactions that's why I don't really
believing that much that crypto would be considered this time around but at least it will make out some noise when we do talk about digital payments.
Sooner or later, if this pandemic would be over then people would simply go back into things that they've been used to and going back to
use paper.