Bitcoin Forum

According to Brian Coinbase it seems a few have already decided to let the US government pick up their BTC bill. Will you be doing the same?

https://i.imgur.com/XenHOjL.jpg

https://twitter.com/brian_armstrong/status/1250907110730170370

If that's not your thing there is an even worthier alternative here - https://www.dailymail.co.uk/news/article-8226305/Controversial-Louisiana-pastor-wants-people-donate-stimulus-checks.html

While not? There's a possibility of a good return on a long-term basis instead of spending or invest into the later(stimulus check donations). This is really an opportunity for the Americans to key into this period of global pandemic which will lead from here to recession. Believe me, the wise ones will definitely  house Brian A. Idea of investing $1200 into Bitcoin. As a matter of facts, many will choose to squandering why others will choose to invest wisely.

Hope to see an opportunity of this nature during this downtrend of Bitcoin price to accumulate more stash for the future. Personally, I have always choose Bitcoin ahead of all other investment packages.

Though, not an American.

If the price is right, and if I'm an American, I would. Get it parked under an interest account and collect monthly interests.

But let's say if I have that 1.2K right now, I'd not buy it yet because the price is steadily rising. I won't know if it would drop back to 6K or rise to 8K.

imagine that: the government printing money and people putting it directly into bitcoin. it's worthy of a comic strip. :o

for a nocoiner, uncle sam could be handing you a risk-free bet on your first 0.17 BTC. that's the deal of a lifetime if you ask me!

Presumably Coinbase are noting who's doing it so Uncle Sam can drone strike your ass at some point down the line for taking the piss.

I hope the people who are doing it are not financially pressed in any way. I'd love to know the proportion of first time buyers and where that BTC ends up. Maybe the US government will be directly paying for some top grade darknet 'shit' to pass the time.

You're missing something mate, the steadily raising in the price of Bitcoin should tell anyone what's going to happen few weeks ahead and even months to come. Currently the price is hovering around $7110 -$6980 which means that; the price is set for another positive movement not backward this time, so, why not buy now and be happy latter or you wait now to regret latter.

Possibly diversification will be my next move when this amount hit me up, this will be divided between Bitcoin and Altcoins. I think this will bring positive results within months of investment, for Banking interest: Banks can only give you sh*tinterest  back to you but grow their business with your funds  :D

I'm not American but if I was to receive some stimulus check from my government, I'd do it with my eyes closed. While people keep this check under their sheets and have its purchasing power decrease the more this crisis advances, those who will put their checks directly in BTC will see imo some beautiful change.

Big spike on the graph, but how much of a difference in total USD does this ~0.32% increase in $1.2k deposits/buys really account for?

Would be interesting to see the same chart but on a global scale based on the checks given by all governments worldwide.

I moved the entire 1200 to coinbase pro. Just waiting on money to clear. I will put everything on BTC. it's free money why not gamble with it.

I personally have not heard or read that any other government in the world gives such direct incentives to its citizens, maybe someone has that information? It should also be emphasized that not everyone will get stimulus checks -> Not everyone is getting a $1,200 coronavirus stimulus check. Here's who will be left out. (https://eu.usatoday.com/story/news/politics/2020/04/10/coronavirus-who-doesnt-get-stimulus-check-millions-people-left-out/5112027002/)

Another eye-popping fact is that 14.1 (https://time.com/5812750/stimulus-unbanked-checks-coronavirus/) million Americans do not own a bank account, and they will get checks last - even though they are considered the most endangered part of society.

I can't say what I would do if I was an American who gets $1200, but I understand the people who will invest in BTC, as well as those who will buy food and hygiene supplies, maybe a new PC or TV. After all, the state gives money, not vouchers that can be exchanged for food, drinks or toilet paper.

It's only people that already understand bitcoin or have someone explaining it to them that will consider buying and keeping bitcoin. Mind you, millions are now out of job filing for unemployment, meaning some will just spend the money on feeding and shelter.

Let's look at the data, the chart says "buys/deposits" - does that means deposit + buy, or a regular trades with the equivalent of $1,200 also count? Because if it's the latter, it shouldn't count. Next, the chart is a percentage, and without the absolute values we can't tell how many people exactly bought Bitcoin. So, if we assume that on average 5000 people deposit and buy Bitcoin on Coinbase every day, then the amount of people who supposedly bought Bitcoin with stimulus money is ((0.37 - 0.1) * 5000)/100 = 13.5 people. And looking and this chart, the whole thing lasted only 1 day, so in conclusion very few people bought Bitcoin with their $1,200.

When you see that even Americans are trying to hedge the supposed funds to save them from this crisis to bitcoin, you know that the lack of trust in the government and its ability to save the economy from failing and the dollar devaluing is already there. It might be coincidental but yeah, the stats on exchanges plus the amount given for the fund clearly checks out.

I have friends and families in the US who have received their checks. Most of them already went to buy PS4s, new iPhones, graphics cards and other gadgets. Perhaps this is a poorly-reviewed response to the pandemic, and as such, those people who did not really need it just bought the things they want with the expense of the whole country trying to repay the printed money for the longest of time. What's even worse is that those who really need the fund are those who will receive it last. Talk about logistics and careful planning.

If I was still living in the US right now, I'd definitely buy that $1200 in no time, perhaps on PC parts, car parts, new gadgets or bitcoin. The fate of the USD within the next couple of years has already been decided by the decision of the government to print more money and give it away, so why would I waste the opportunity and time to spend it as is while I can?

I dunno man, the last time I bought some Bitcoin which was like nearly 1 week ago at 7.1K, it dropped by a few hundred right after that.

Used to collect altcoins but with Bitcoin usage being more widespread, I just focused on Bitcoin. Also thanks to Freebitcoin which gives out compounded interest everyday.

i am not an American but i did exactly that with the money that i received a while ago due to Coronavirus from my government. i mean why not? it is an excellent opportunity to buy something valuable at a big discount and right before its take off.
and that is not even considering the fact that the governments around the world are printing a shit ton of money these days that would decrease the value of fiat hence increase the value of bitcoin against it!
that to me is a no brainer.

I think it's not right that the money is distributed this way. If one's financially stable, it means one doesn't need these $1200, so it would make sense to give this money to those who need it more. So as much as I'm pro-crypto, I don't think it's right to spend the financial package for combating COVID-19 on investments of any sort, Bitcoin included. As for the $1200 chart, it can be that we're missing something and it's the confirmation bias getting the most of us. Correlation is not causation, and people who get the package might invest a part of it while those who don't might feel like spending $1200 for some reason.

Probably if I will have $1200 I may invest in bitcoin because rest assure there is a chance of having a higher interest with less effort. If I am going to save it in a bank surely it will gain interest but on a limited amount. Though in bitcoin there is also a chance of reducing your $1200 as you lose and the risk is to low and you may still get back and recover what you have lost. In fact, that is how businessmen and investors always think. Nevertheless, this is good for US citizen's opportunities they can use it for having contactless payment through Bitcoin to follow social distancing.

Well, it may depend on the financial status that you have, because if the government will provide any assistance because of the crisis, I'm pretty sure that everyone will receive it, hence, you have to decide whether to invest it, or to buy necessities. But if you have a good financial status and considered, financially stable, that money will be an extra, and I don't think there's something bad if you invest it in bitcoin or other crypto.

Good luck earning interest with a bank these days--interest rates are at about 0% if I'm not mistaken, and the best thing you could do with money you're looking to put to work would be to put it into the stock market--or even into bitcoin, though I think the latter's potential for earning is way more uncertain.

Yeah well, you never know what's going to happen and nobody knows when the "right" time to buy is.  But I'd say with the halving coming up and the fact that bitcoin is nowhere near its ATH, it might be a decent time to buy.

Not a bank, it's Freebitcoin's (the faucet by wetsuit) 4.08% annual interest for parking Bitcoins :)

I do invest in CFDs but with COVID, my funds are pretty much stuck there.


I might get some more, but have to wait for payday since I'm saving up for essentials.

Why Americans?) I am not American but I bought BTC for $600 which I had without specific destination of use. Just because I think it's a good investments, especially now. Independence of banks and nationalities is actual as it never ever been.

If you saw the image from the OP, the Americans recently received their stimulus package of $1,200.

So that's "extra money" in their pockets.

The never-ending problem with growth charts!
Ok, it jumped from 0.1% to 0.4%, that's 4 times more but how much is that in real numbers?
It's like those clickbait headlines where electric cars sales have grown by 50%, from 2 last year to 3 this one. Or those cold war jokes with Albania doubling their army, by conscripting a second soldier.

I suppose this is why they haven't posted a graph showing how much of that means in $.
Let's wait for Planet 13 to come and show a similar graph.  ;D


So, no free soup 1200$ check for you.! That's why!  ;D

Come to think of it, that amout is good enough to cover around 3 months of housing rental. You got any stimulus package from your government, assuming you're not from the land of guns and hamburgers?

Nothing this indiscriminate where I'm at in the UK. They're bailing out salaries and maybe increasing unemployment stuff but there's no monetary blunderbuss quite like this. If you're a dosser under the radar like me you get nothing. How cruel.

Yeah, there would be a better way to earn a profit that just investing in Bitcoin surely having a small business would I think a good way and I guess less risky than investing in bitcoin.

If you already have knowledge in bitcoin or cryptocurrency and know when would be the right time to invest in bitcoin surely investing in bitcoin is a good choice for you.

Make sure that you will not get into trouble at a later time, the money the government is providing is to take care of yourself during this troubled times and if you are going to use that to invest then there will be some issues that will pop up at a later time and you will be forced to return everything for gaming the system that was meant to help the poor and needy and so think twice before doing anything with the money providing during tough times and these are not free money as you need to enter all the details while filing your tax.

lol haha maybe he didn't know about the stimulus package of $1,200

Well it depends I guess, If I were going to receive that stimulus package and has a lot of cash in my pocket then probably I'll invest it with crypto, diverse it to various coin but dominantly invest in bitcoin more likely the half of it then 3 or 4 coins for the other half, otherwise if it is the only cash I have I'll just buy my necessity for like a month then invest the spare on bitcoin only. I wish we have that stimulus package, that worth so much in our currency though.

Damn, that sucks. Same thing's happening in Malaysia; SMEs are requesting the government to bail them out after the latter gave out stimulus packages (i.e. chickenfeed) to us citizens. And another quarantine extension is likely to happen until the end of May.

Btw I saw on the news that Boris' recovering, I wish him godspeed.

I have some sympathy with this view. At this point we have zero idea how long this is going to drag on for and even if it recovers in a few months the hangover is a vast unknown. That said $1200 won't go all that far in the US.

I'd chuck it in BTC if I was absolutely confident about my financial health and had plenty of savings elsewhere. All the same the future is a looming question mark.

Zero, Nada, Nichts Nothing!
But I still got my job, no paycheck cuts (yet) and it seems that from April 20 things will slowly start going back to normal.
So no bonus 1200$ but still happy I can keep my job. Oh, and btw, that 1200$ is more like two months of rent with no utilities.

But we do have some programs:
- if your business is closed because of the virus, the state is paying you 80% of your wage and the employer only 20%
- from 6 up to 12 months delay in repaying rates mortgages and consumer loans
- some other measures I didn't pay much attention cause they are not applying for my situation.


Almost the same here, and I guess in the whole of Europe (might be mistaken but I doubt it).
If you're self-employed...you're f##!

Good to hear you're safe. It's so disheartening to see many getting retrenched right as we speak.


The moratorium is what's needed right now. For consumer loans, are credit cards included?

Nothing in the law but a few banks have already come with different plans, most of them the same 1-2 months delay in repaying your debt.
But most of the big names have already rolled out something or are planning.


Nobody is going bankrupt.
The difficulty is up 5% from the time that article was published and right now this epoch looks like this:


So leave your hate for BTC aside and open your eyes.

Of course if I as an American would not hesitate to spend the $ 1200 I have on bitcoin. Because bitcoin is the best choice to make $ 1200
increase 10x. There are no other investments like bitcoin that can provide profits relatively quickly. Try to imagine if an investment in stock
or deposit in a bank, is likely to rise a maximum of 2-3x. Moreover, America is now a number one in the world for the spread of the corona
virus, so it must be able to find solutions to make money relatively quickly without physical contact. And bitcoin is the best solution in my
opinion, so that American citizens can make money from home.

If I was receiving a check for $ 1,200 and I didn't need to buy groceries or pay bills. Of course, I would buy Bitcoin. The situation in the USA is complex, the Covid19 is still reaching a very high figure.

Anyone in that country could be thinking about protecting their health and get out of that nightmare quickly.

It sounds good on paper, but you don't know what's going to happen when a recession comes, if you're going to keep the same job, or if you're going to have enough savings to withstand a long period of unemployment. ECT.

In my opinion, I think that investing in BItcoin with all the crazy things that central banks are doing is a zero risk bet.

There was talk of sorting out the self employed in Britain. I'm not sure how advanced it is. The really weird thing is that initially it seems it didn't occur to them to do anything about the self employed at all other than advise people to go on the dole. I don't see why being salaried makes you a superior being worth saving.

outstanding move to buy BTC

First you shouldn't keep the money in a bank - I sure wouldn't. Who knows when they'll decide it's bailout time ;)

I'd keep it in cash if I needed it for daily expenses and invest in Bitcoin or gold if I had enough to live comfortably for now.

Like others are saying, Armstrong is exaggerating. People are buying BTC you can see it on the charts but it's not related to the checks. Maybe he should check how many of these 1200 deposits are actually from US citizens.

Unfortunately, I like a lot of Americans will not receive the stimulus check. Would have loved to get one and probably would have spent most, if not all on bitcoin. The price dipped low enough I was able to pick some up anyhow, but not nearly as much as I would have liked to.

This will depend on the daily wage of such people. I mean, if that person has saved enough even amidst these tough times then he can decide to invest in Bitcoin till BTC halving occurs. on the other hand the layman on the street who might not be working can't afford to lose this money because it's for upkeep whiles he is unable to go to work.