Bitcoin Forum

In this situation, the pressure on digital currency is highly increasing. People avoiding cash currency.
What do you think?

Today i went to an ATM and withdrew the maximum daily limit.
Cash is cash is cash. Digital is fine, but cash will always motivate people.

Besides, atleast here, not every delivery service has a wireless POS device

As far as I know (I can’t pretend to say 100%) in times of crisis, the worst thing we can do is to begin to cash out all of our money. For banks, this will be a very big blow. At least that’s what we were taught in economics courses at the university.

On the other hand, cash cannot be dispensed with, either, because not everyone has terminals for payment.

So what if the pressure is increasing?

Cryptocurrency has always been this volatile. People avoid cash today but it doesn't mean they'll totally avoid it. They'll making themselves safe because of the virus but they need it to spend for their needs.

only until the virus disappears, and after that people will return to look for cash.

The situation we are living right now also puts pressure on digital currencies.
People try to withdraw as much cash as they want in order to be able to have high liquidation levels. Having said that, they also abandon their crypto positions in order to get cash.

To be honest, not a lot of people are ready yet for a massive adoption of the cryptocurrency and blockchain technology. But could still be possible let's say in the next 10 years.

Not really, many services will be forced to accept digital payment on their own or by the government because of the fear of facing lockdown in the future.But fiat will be used in the digital format so cryptos are not yet adopted here.