Bitcoin Forum

We are fully aware that the whole world now is combatting the war of the unknown, or this Covid-19 that cannot be seen but killed nearly a million of people across the globe. And we are in this battle for over half a year now, but still, the Cure is so hard to be found. So devastating as it was, as the losses rises each day in all kinds as often mentioned.

Sadly, we do not know yet, when all this chaos be over.

For some individuals working in Cryptoworld like me, can we rely on Bitcoin to sustain our needs and help prevent the economy collapse as this Pandemic continues?
As I've just heard from the news, there's a new swine flu disease which is a threat discovered in China again 😢 and has a Pandemic potential that the experts need to keep eye on.

If you need a hedge you're going to have to use cash or precious metals (gold, silver or platinum)...

I don't think bitcoin yet has a reputation not to crash bad... Its probbay better than some stocks but not all, some places like the utilities and commodities should do well I wouldn't put all of my faith in crypto it'd be a bit like buying an airline stock...

How can Bitcoin sustain your needs? If you mean using it to make daily payments, this is presently not sustainable in most places as it's not yet widely accepted as a medium of exchange. It is also not a tool to prevent the collapse of the economy, it's a decentralized currency with a speculative value.

There has been a growing threat from zoonotic diseases for a while now, this excerpt is taking from an article posted about four years ago, it discusses the situation and probable causes;

Cat Bitcoin "sustain your needs"? No, Bitcoin is a highly speculative investment and there's no guarantee that the price will keep rising in short term. There's no guarantee that it won't crash again, like it did when the stocks crashed. And Bitcoin-based economy is really tiny, so it's very hard to find some online job that pays in Bitcoin.

Bitcoin totally can't prevent a collapse of any economy, because it has literally zero influence on macroeconomics. Without wide adoption, it's irrelevant to the world.

Of course you should be able to distinguish Bitcoin & Cryptocurrency in using it as a basic reference for you, if you use Bitcoin, of course it can be relied upon, but if you use other Cryptocurrency, not necessarily reliable.

Main reason;
• For now the more popular one that is often used in every country for payment tools is Bitcoin, of course Bitcoin can be made as a mainstay that can be used by many people.
• but for other cryptocurrency, not necessarily reliable, it is recommended that you be very careful in using it, although crypto capitalization is increasing, for that the fluctuation is unreliable, another reason is: there is no country in the world that currently controls digital currencies as legal payments.

So, in conclusion, Bitcoin can be relied upon for the time being made an investment or an asset of the future, but for other cryptocurrency, it cannot be relied upon to be an asset or investment in the future as I mentioned above.

It depends on how many bitcoins you have now. Anyway you will have to cashout your coins. Cryptocurrency solely can't save the economy, but it can show us the new path.

Both crypto and bitcoin are good at investing Bitcoin investment can not only reduce the damage to the country's economy but also has a lot of potentials to recover the economy. However, we cannot rely entirely on Bitcoin and cryptocurrency because Bitcoin is not a stable currency Therefore it is better to use Bitcoin for long-term investments. You have to do other things besides crypto.

atm bitcoin adoption is still very small so there's really no way it can prevent the collapse of any economy. only small percentage of crypto users can sustain their needs just by dealing with bitcoin or crypto, trading/mining/crypto-related jobs and other means do not have the guarantee of how much you will earn at a given period of time. very few crypto users are fortunate to have a good stash of crypto..

No. Bitcoin isn't a magical asset that could help prevent the collapse of an economy, especially with how long it has already shown evidence of collapsing soon. Plus, with how Bitcoin's status as a speculative asset, one couldn't really guarantee it as a safe place. Ofc, there's a chance it may actually benefit you instead, with its price growing instead of falling, but the chances are also the same for its price falling instead. Additionally, your using Bitcoin for yourself, to save yourself from the collapse, and with how only a limited number of people actually think of such, the collapse of economy would still continue, but you can afford to save yourself if you continue to believe in BTC (that is, if BTC doesn't also collapse).

If you hold atleast few hundred bitcoins then I will say it is more than enough for you to survive till end of your life but I don't know what is the meaning of working on crypto world, if you are getting paid in bitcoin for your work then it may not be enough because even if bitcoin has value you may lose your job at any time so having more savings is indeed for not to worry about your retirement plans.

Vaccine is all we need and that's it everything will be fine as soon as we have it.  Despite the struggle of our world economy due to the pandemic, we have to endure it just to survive at all cost. Bitcoin is unpredictable and we people on crypto world should not rely on it because anything can go wrong today or even tomorrow we don't know. So, it's best to make a practical balance to avoid loses in bitcoin investment or any crypto currency you are holding right now.

Bitcoin and another cryptocurrency will not be able to support the economy from collapse, because it is only a tool and not a solution. The main buffer of the world economy is the system created by its creator. The economy will become all-digital, but bitcoin is not a buffer. System makers will make cryptocurrencies to continue dollar dominance. But there is information circulating at this time, that some time in the future there will continue to be tensions between globalists and nationalists.

Globalists want to create an algorithm-based currency system so that there is no manipulation on all sides. Globalists assume that the existence of multi-currency causes inequality and global economic problems that lead to poverty and hunger. These globalists are very anti-nationalism and assume cross-interest between countries is the cause of the global order.

What you are saying doesn't make a lot of sense op. Bitcoin has not even gone mainstream yet and only a small percentage of the world population have adopted it primarily for investment reasons. Relying on BTC or other crypto under current conditions doesn't make a lot of sense.

FIAT is still King and will probably stay that way for a long time. Physical note demand has dropped, but there are plenty of digital payment methods available as alternatives.

Even a pandemic like COVID cannot improve crypto adoption rates drastically within a short span of time. Factors like volatility, TX fees etc play a bigger role in this aspect.

Rely on completely? No.

Should you have some exposure? Yes.

It is worth taking some risk. Don't overdo it and you'll be fine.

Crypto will just stay, you see what's happening to the market now, we are even better compared to some countries economy or to stocks which we can easily compare.

Just be optimistic that crypto will survive and grow and do your best with your job so you'll be able to enjoy earning online receiving crypto as your salary.

While our economy struggles, that would result to a high unemployment rate, so whatever you enjoy now, you should be thankful as you are one of the lucky person who still have a job despite of the crisis we are all facing.

This question can be answered from two sides. The first side is specific to governments and is currently not ready to accept or deal with Bitcoin, and therefore I do not think that Bitcoin will be a solution to prevent the collapse of the economy for governments because Bitcoin is decentralized.
As for people, I think it will be a good way to preserve the value of their money. In the event of the collapse of the economy and the collapse of the currency of any country.
In fact, this is happening in my country now. We are currently suffering from the collapse of the national currency, so people have resorted to exchange the currency for dollars or gold. As for me, I store my money with bitcoin and then convert it into dollars and then convert it into a national currency and this preserves the value of my money.

The total infection all around the globe is 11 million and out of those people, people who still have something to put on their table are the lucky ones. So as long as you'll able to do something like that then you can depend on it temporarily.

But completely depending on it as a whole is a different story. You just can't rely to it because the volatility is too high, you need to look for other source that you can depend with your day to day basis.

Bitcoin is really hard to manipulate especially that volatility is not the only problem in making bitcoin as your asset.
There are a lot of factors that can affect the price of bitcoin such as oil, and other commodities in the market.

That's why relying on bitcoin is not a good decision and that's the reason why governments are not giving a chance for cryptocurrency to become legalized in their country.

Investing your money to open a small business and make it grow will help you become more independent without the use of cryptocurrency. You can use your bitcoin to start a business, by that while you are holding your cryptocurrency, you are also making profit out of your businesses.

There are people who are trusting bitcoin so much that they don't even try to explore the use of cryptocurrency. There are other coins that will help us earn profits and not only this bitcoin, but it is true that the profit in using bitcoin is extremely high compared to other coins. But I don't see this bitcoin as the priority right now as there are no improvements in its price right now.

I knew about cryptocurrency and bitcoin for almost 3 years and I really saw how this assets help me and the economy grow. I still want to see more in using bitcoin and I know that there is something more in bitcoin that we need to see. Right now, during this pandemic, we should really rely in bitcoin because some businesses are not open.

You probably meant easy to manipulate, right?


I don't see the connection here

Relying on bitcoin may not be a good decision overall (though that largely depends on an individual and his goals). However, I don't think that's the reason why governments are not legalizing it as a functional currency in their countries. Governments are afraid of competition, but competition would make Bitcoin stronger (not sure about fiat currencies), and that means more adoption and less room for manipulation as well as volatility

For a country that already accepts bitcoin as another payment system, they can rely on bitcoin. But the other country, I don't think so because they need to accept and use bitcoin as the option for the payment system. It will depend on each government to accept and use bitcoin, and as long as they don't allow crypto/bitcoin to be used for their people, people cannot use it to pay something.

But people already have another option for the payment system. They already use digital money to replace the paper money to make a transaction. So they don't think that they can move to bitcoin to pay that thing because they already have the best option to pay. They will use bitcoin for the investment than to buy their daily needs because the volatility of the bitcoin price itself makes them scared.

If you are worried about the status of bitcoin and other cryptocurrency in current situation then you shouldn't be, you see bitcoin is quitely running good compare to the other investments option right now and I'm sure many people are looking at bitcoins right now as good alternative that's why we never see a quite downfall. We can still rely on bitcoins but act correctly by now since the price stabilize and monitor the market if you want to trade so that you will possibly gain from small volatility happening right now.

Rely? NO.

Cryptoworld is a world where there's a risk and reward, though we can work here but there is no job security unlike in the real world where we have an employer-employee relationship where we can assure the protection of the government.

If we can work here, then just have to be thankful, but never rely on it as we don't know if it will succeed or will crash.

It's completely no for me.

If you are talking about investment allocation of your all asset I won't consider relying upon only on Bitcoin. Investors understand what is a golden rule in investment, don't put all your eggs in one basket, because in any form of investment there was always a risk and Bitcoin consider as a high risk but also might a high return of profit if you know how to manage.

In payments, Bitcoin often uses as a payment method. If you have cash while Bitcoin price is on crash it's better to use your cash than the Bitcoin that losing value. Therefore, investors treat Bitcoin as a valuable asset to hold not to spend.

That's an illusion of safety

When you are stuck in an employer-employee relationship, as you call it, you can be kicked out at any moment for a plethora of reasons. Your company may go bust, you may cross paths with an abusive and vindictive boss, you may do something stupid on your own, or whatever. The truth is that there is no real protection unless you are the boss. Indeed, when you just start out on your own, you feel scared and intimidated. But with time, you are going to become more and more independent as more and more options turn up here and there. Seriously, who is more independent, Warren Buffett or the people he hires and fires as he sees fit?

In a corona virus situation like now we can rely on bitcoin and cryptocurrency to help prevent the spread of the corona virus.
By conducting financial transactions using bitcoin, because transactions with bitcoin do not need to make physical contact.
Transactions with bitcoin only require mobile phones and an internet connection. Bitcoin and cryptocurrency can also be relied
upon to produce money from home.

Can we rely on Bitcoin?Yes,of course we can.I'm relying on Bitcoin for around 4 years and I've never been disappointed.
COVID-19 killed millions?I think you are exaggerating a little bit.Maybe COVID-19 will kill millions in the next few years.Nobody knows how this virus will mutate and will the pharmaceutical companies create a working vaccine against it.
Can Bitcoin prevent the economy from a collapse?No.Nothing can prevent the economy from collapsing.
We just have to adapt and find a way to survive.We can't stop the upcoming economic crisis.

Even if the pandemic persists and inflation occurs with fiat money, cryptography will not save us. You can see that when the stock market crashed, so did bitcoin. By the end of February we have also seen the entire financial market collapse. So do not be too hopeful about bitcoin or promote it, you will easily be trapped in the fomo mentality and your pocket will be empty soon. Be alert and keep cash now, it will be very helpful next year.

You've relied on bitcoin alone, and it has provided you all you need?
Or..
Have you relied on people offering and demanding services for bitcoin and on people investing in bitcoin?

Billions rely on fiat, they get paid in fiat does that fiat money is providing them with anything? No!
Without people offering and buying services related to bitcoin you will not have a dime, without those services earning money from their customers you won't have offers from them, without clients to pay for those there won't be anything to gain from.

If you design a logo and get paid in bitcoin is not bitcoin that gets you money, is that company who needs a logo and pays you.
If that company doesn't have clients it won't require a logo and you won't get a job, bitcoin or not.

If the entire world economy goes down and there will be not even enough money to buy food there won't be any services around here anymore, there will be no people offering BTC  for signatures, there won't be any exchanges as there is nobody using them. And you can chew on your addresses and I highly doubt they have enough calories.

only if you network connection and your electicity is reliable too  . mostly internet is the problem of many users on most country , the covid situation also contributes on the issue of thier networks causing thier internet to disconect if not slowed dramatically   .

 so how can you transact and use btc/crypto with that kind of internet  . electricity do rarely have an issue but idk to some far away places where electricity is limited and the network coverage is also limited too on those areas   

In my own opinion, it will be difficult for us to rely on bitcoin and other cryptocurrencies because not all of us have fixed earnings and it is not enough to provide our daily needs and pay our monthly bills. But using cryptocureencies as a virtual payment could help a country to prevent or to lessen virus cases.

With bitcoin's position right now I don't think it can sustain the economy, plus the main fact that we all know where bitcoin is heading, it is going to be a next class investment/asset. Looking in bitcoin as a currency is negative, no one even spend it unless needed, this is also why I am very skeptical with bitcoin being the revolutionized currency to be adopted by the banks. We can rely on bitcoin in just one thing, and that is a store of value although it is on high risk when doing that because  of volatility.

Not totally irrelevant, I agree that bitcoin has less use-case compare to some altcoins but the thing is somewhere down the road there are people who are open to crypto especially bitcoin and they are adopting it.

If you're already set on cash and you can survive for the next few months with what you've got, then maybe placing it on cryptocurrencies and bitcoin could be worthwhile considering that there are a lot of people who are already investing in crypto and are seeing its potential as a hedge against an economic downturn. It depends really on your current financial state. If you are one of those many people who are living by making ends meet, I suggest that you stick to cash and not think of diverting your current assets into bitcoin and just ensure that you can survive for long. If not, go ahead and stock bitcoins and go long.

The economy going down and with COVID to accelerate the upcoming recession I think it will be best not to buy stocks or any other investments and either invest in cryptocurrencies or in precious metals like gold and silver. The ones who will be having a lot of cash with them in savings will suffer the most because at the time of a recession the value of fiat reduces a lot because of the inflation and falling economy.
For me bitcoin and crypto are even better than investing in precious metals unlike you, at least cryptocurrencies will gain a lot of value when people realize that the fiat is worthless in case of a recession and will opt for cryptocurrencies.

Rely on bitcoin and cryptocurrencies for what? If you think bitcoin will magically help us to sustain our economy and rebuild it, then you are wrong. I mean like how is it going to help anyway? Like by holding coins? That is what most people do. Hold their coins for profit. This is not going to help in anyway.
And the virus can be seen. It is microscopic. The media always tries to create attention, so don't fall for those "threats" they are talking about. They always tries to exaggerate things.

With or without the pandemic, there are always ways you can profit from the cryptocurrency ecosystem, you just need to horn some specific skills (trading, project development, effective portfolios, community development etc) and exercise some patience to reap rewards

You can rely on bitcoin if you just using for investment purpose, look at when the pendemic came almost crypto market and even stock market were crash simultaneously. Although at that time, bitcoin was in the strong uptrend we just close to privious all timr high, but in the fact we just crash and now far form all time high.

Greatfully, when use bitcoin and know how to make money beside through investment like trading you maybe able to rely on bitcoin and using it as your source income. Yeah I believe most crypto user out there do trading during they are quarantined. Because, you can still get profit although the bitcoin price is decreasing, using future market you can do this thing in some exchanges like binance and OKEx.

 

When did any altcoin had more use cases than Bitcoin? It never happened, even if Ethereum has more transactions, those transactions are just execution of smart contracts and moving tokens, they aren't a real world use for buying goods and services.

Relying on Bitcoin to survive the pandemic is extremely risky, buy trying to do so with alts is just plain stupid.

Like seriously, I also saw the news yesterday 8). They said that the flu was discovered in swine. I just don’t understand what’s wrong with these people? I just don’t get it to be sincere. This time around they better be open to the world about the flu and not try to cover everything up just like they did with Covid-19 and before we knew what was happening it has already become a pandemic.

I just hope that they don’t try the same nonsense this time around. And if this other flu is going to spread, is better they start earlier now and keep that particular state on lockdown and solve that problem once and for all and not let it escape to other countries.
And as for what you should invest your money in, Bitcoin is already a good choice, unless you want to be buying gold.

I do not really see any other asset that will be better than Bitcoin, and that’s what I am going for and a particular token that is backed by precious metal. Done my research.

We cannot always expect that Bitcoin or cryptocurrency will always be an answer to every problem we face economically. Let's be honest, crypto is still at its starting point for mass adoption and how can we expect that bitcoin will be a big help in preventing the economy to collapse? If you are working in the "crypto world", I guess it may help you to sustain your needs for now or for a short term, but there is no assurance that it will last for too long since jobs and even bitcoin itself isn't stable. So don't depend too much on Bitcoin income if you want a stable and longer way of sustaining your needs.

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Covid-19 is already a big threat to every one of us and I don't think we are still capable of handling another threat to our health and economy. I hope this won't grow like the current pandemic we have.

No, you cannot rely on bitcoin to meet the requirements of daily life. The fate of the cryptocurrency up to now is not widely known to most governments. But if you have additional money that you can invest in cryptocurrency, perhaps in the future, There will be an agreement between governments to adopt the cryptocurrency as a means of payment.

It might be true but crypto currency also is helping a lot of unemployed people these days, although I don't want to put all of my faith in crypto currency and Bitcoin that would have a chance to crash someday. But for now, Bitcoin and other crypto currencies are at least giving some light to most of the people who live in a third world country. I guess Bitcoin is like a stepping stone to those who're struggling to find a stable job.

We don't really know how many people died from Covid and how many from other things, while being sick with covid at the same time. If you have a person with AIDS get pneumonia and die, what would you say was the cause of death? The direct cause would be pneumonia, but AIDS caused the failure of patient's immune system that allowed pneumonia to be fatal.


No, we cannot rely on Bitcoin or any other cryptocurrency for that matter, but it's not like you can rely on your government to save you from the pandemic.

Even now that we are stay at home because of losing a job, i think bitcoin  and cryptocurrency is not sufficient to rely on because the value of cryptocurrency is not stable and not all that working in crypto has a good income. We still need to think another way and  strategy on how to survive from this current circumstances caused by pandemic. Maybe you can rely in crypto if you already have a big amount of bitcoin and converted into fiat money to sustain you daily needs for a long term, because we can't go back to normal life easily especially now that there is no cure for it.

At the end of the day there is a big potential on bitcoin that can reach to those levels, I do not really think that it should be that big of a deal right now and I agree that it will take some time to reach there, but we have a huge potential. Hopefully we will get to a higher level in few years and we will become mainstream in 10-15 years.

By 2030 I would like to see bitcoin everywhere and people getting salaries in bitcoin and also people who spend bitcoin only without ever having any fiat in their pockets. So, we should be patient, we should wait, we should collect and accumulate as much bitcoin as we can and consider 2030 1st of January as the moment we will sell, if you say you will wait almost 10 years, suddenly small changes in price doesn't really matter because you have years you can wait.

Says kettle to pot

You make it look as if Bitcoin were widely used for buying goods and services. If anything, "just [the] execution of smart contracts" is everything in today's world. To buy goods and services we already have fiat, and, to be sure, Bitcoin doesn't have a lot to boast about in this department. The only area where it shines (I mean within the cryptocurrency domain) is an investment sector (i.e. when used as an alternative store of value or asset)

Thank you so much for all the efforts in giving thoughts here. Please know that all your different opinions are highly valued and deeply appreciated. Upon reading all the replies here in the thread that I made, I began to realize something. And that, you all had given me a lot of good thoughts to learn on. Keep safe everyone 💖

I don't think bitcoin can sustain our needs, in whatever aspect it may be as of now. Bitcoin is not stable and that alone gives us reason not to rely on it at this current pandemic. Although it can be used as a qay of payment for some companies and stores, still many are aware of its risks and chances to crash anytime. Another thing is, most people are still relying to cash than cryptos like btc, you need to cash out your bitcoins in order to keep up with that. Most people see it as an investment for future pump so they can make a profit and if you use it at the current situation, the chances to make a profit in the future will lose.   

Base on the past viruses and its cure/vaccine, the average time span for a new cure to be made for public use for a new strain of virus is around 12-18 months and take note that this is just a minimum. There are still some viruses right now that still there aren't no cures but still exist. Many countries lost huge amounts of money in the past months especially in the travelling industry but some establishments are starting to re-open already so it is a good sign for the economy already.

Relying on Bitcoin is possible only if:
1. You are an expert trader that is earning profit daily.
2. You are a freelancer that is accepting Bitcoin as your salary in every client that you have.

For now, the best way to lessen the economic effect from us is thru investing (at least that is my opinion).

Not now but in the near future we can rely on Bitcoins and other cryptocurrencies.

We are still adopting.

TEX-LXRY

The question from the OP is :


Therefore it's not about just adoption, it's about the job that currently we are working on and that would not be reliable if the market is not stable itself.
It's hard to confident of the future as the economy might collapse and crypto market might be affected, but if the opposite will happen, then we are at the right side now. 

When you need something you either purchase it or it is given to you freely. Bitcoin is specifically designed to be used as currencies and you need to work to earn it so before your needs will be sustained you will need to have bitcoin. Thanks for some freelance and online job that you can work from your home and get paid without having to risk your life against the ravaging covid19. The other question about if bitcoin can prevent economic collapse, I do not think bitcoin can prevent that when there is continuous increase in inflation with GDP becoming lowered

Bitcoin and cryptocurrency are not stable asset because prices continue to change depending on market condition. For a certain period of time, working in cryptoworld that still earn a few dollar can help sustain the necessities of life during a crisis. But it is also not good to continue to depend on crypto without other income. Because the future of cryptocurrency cant be predicted with certainty, its good if we glance at some other opportunities in the real world.

Trade, affiliation, investment, minning, bounties, airdrop, signature campaign, and many other thing are some things that can be used as opportunities to make money to sustain the necessities of life for a while. For the long term, I think we must have a real job.

Still, I don't understand what magic do people see in Bitcoin. People are always dreaming about magic pills that they'll drink and will lose weight, become shredded and muscular, become euphoric and confident, charismatic, super smart, etc. Same applies with bitcoin too. Why do you think that bitcoin can solve poverty and help you in situation where you stay at home and do nothing? People look at bitcoin as a new way of pray that in reality does nothing but gives satisfaction and false hope.

Can anyone please explain me what makes something valuable? What gives money a value? Why GBP > Euro > USD ? What makes these papers valuable? When you are hungry, you need food, not papers but these papers have high value. If you can answer me on these questions in details and with arguments, hope you will answer me on why bitcoin is a magic currency that can solve every problem like you may think.

We should not leave a real job because it is one of the supports of our lives in the long run in cryptocurrency only in part if there is time then we can take advantage of it without having to leave a real job.
We know that all economies are difficult in any field because this is the effect of a virus so it is very troublesome for us to get more opportunities from these income, investment and trade are a while we cannot do that continuously in cryptocurrency and there are good looking for other opportunities.

I always use the signature campaign as my additional capital in the field for my future business.

I think you can count on bitcoin only as an investment. To create your own reserve fund. But I do not think that it can play a big role in preventing the collapse of the economy. Perhaps in the near future, cryptocurrency will be able to compete with the dollar, but today it is too early to talk about it.

Bitcoin can't solve some abstract poverty

However, it can still help some people. Moreover, it did actually help those who were lucky to jump on the bandwagon in time and then even more lucky not to jump off it before the right time. So no matter how you feel about it, that was pretty much "magic pills" as all you were required to do is sit on your hands patiently


These "papers" have value insomuch as you can exchange them for the things you mentioned. Does that count as an explanation? Regardless, feel free to ask if you have any other questions

Of course, but there is no prohibition for anyone to totality on bitcoin and leave the real job. The decision is in their hand so making the right decision will help solve the problem.

I personally have never agreed if I have to leave my real job and totality on bitcoin even though until now it still has a high selling point. The thing that I think about the most right now is that doing both together doesnt interfere with each other in the sense that I can still go in and do my forum activities even though I am working. It also depend on yourself and the necessities of life from getting bitcoin is also not prohibited as long as the person can do it, but as I said that in the long run, real work will help the necessities of life for a long period of time.

Wow, thats one of the pretty good things about using money wisely. Good luck to you.

Talking a bout the potential of bitcoin, well actually there is a huge potential for now but what I am seeing is that it will be lessen as the government creates a new and alike of cryptocurrency we all know as cbdc. Not being a pessimistic about bitcoin, but aren't we too pushy for bitcoin? I mean the speculation is massive towards bitcoin, the price keeps spiking yet we only use bitcoin as an investment. But I'm also hopeful that we can get bitcoin into another level of neither investment or currency.

  The cashless society that we all dream of, I guess from the tech advances that we already got we are able to do this in the future but not with bitcoin which is too volatile to handle such all direction payments.

When it comes to sustainability then when it talks about on economy as a whole then i dont see for its relevance since we know that people arent paying up tax on what they do earn here on crypto
but if we do talk about personal aspect then i would say that crypto earnings would somewhat help us big in terms of surviving this pandemic yet we can still able to earn and buy our needs unlike to those
people who do heavily rely with their offline jobs and dependent into their salary which is really sad.This is why i do consider up lucky for people who are aware and earning into this field.

Not all, those who are living in a country where crypto is already fully regulated and they are strict with implementing the tax laws, I think they will pay as they don't want to face problem in the future.


This online job if we call it is a good side job, offline job or what we called as day job might be affected if we belong to an industry that struggles during this covid-19 pandemic. If you work in tourism, you might be one of those who lose their job since as of this time, it's still not safe to travel due to restrictions in some countries, but of course we should be thankful if we have a job online where we can earn some crypto for our needs.

I'm one of those lucky people, so I'm thankful.

Besides being a volatile asset, you don't need to convert it especially if it is not that necessary. Governments are still not that knowledgeable about the benefits of bitcoin in the economy, maybe because we lack of support and promotion in many platforms that we use in our daily lives.

Once we achieved the mass adoption of bitcoin and cryptocurrency, probably we will let the government allow the use of these coins in most of the countries around the world.

But as of now, people are still not that into the use of digital currency even if the pandemic increases the risk of transmitting the virus due to fiat money.

Actually Bitcoin has great potential in the future,but for now it is hard to expect that you will get the everyday you need in here.
it is better to invest in bitcoin now so that we can look forward to the future, but for now we can't rely on bitcoin at this time. It is good if you have huge amount of bitcoin then convert it into fiat money for you to sustain your daily needs, but if you don't have it then you better find an alternative ways on how to earn money.

I think you can rely on bitcoin and cryptocurrency if you can earn more every month like you are paying from a regular job. Also the unemployed people are keep on increasing due to this covid 19 virus. So instead you just seat in your chair and wait for nothing ,why not work in crypto to earn,join a campaign or do trading if you have knowledge about it. Only newbie in crypto can't really rely on this because they need to learn first. But if you are strategic person i think much better if you have another sideline aside from crypto in order to survive and sustain your needs at this time of pandemic because we don't know when this suffering will end.

Bitcoin and cryptocurrency can be relied upon for the current pandemic situation. We can work from home on a computer screen or on the cell phone screen easily.

I trade to benefit from trading various kinds of exchange coins.
but having a marriage is not that easy. trading requires analytical knowledge to be learned. Beginners can also start learning to trade, don't just rely on bounty campaigns that don't produce results for now.
the campaign that actually produces is a signature campaign, but requires an account with a high rank and has a good quality posting.

Some people are already relying or relied on Bitcoin and Cryptocurrency before the pandemic even came. People use the Cryptocurrency Industry as their job and they have not left that job because they are gaining profits from it. If we learn more and utilize our knowledge regarding this matter, we can surely do something profitable or useful about it.

For a jobless person like me, instead of doing nothing in my free time, I guess it is better for me to learn about stuffs that I have not known yet and look for things that can help me gain profit in the future.

You have to identify between business and jobs, because if we are talking of jobs, we are not gaining profit, we called that earning crypto or money, profits is only for investments. What others are doing are they are working online in the crypto world, of course there's a lot of opportunity here also but we can't really rely on this, and I would say they are smart if they also have a day job in real life and they are just making money in crypto as their secondary job.

Some people also are trading, and if they are consistently profitable, that's the time we can say they can rely here as day traders really needs to be fully focus to maintain the profitability they are enjoying.


This forum gives you a lot of information and at the same time you can also earn here if you join in bounty and signature campaign, so it's up to us on how we value our time and effort.

Investing time to learn more about crypto currencies is very useful and owning bitcoins is even better. Bitcoin will not go away, it's already spread and being used by so many people around the world. Just by looking at the bitcoin price we can see how stable the price is, and managed to get through the crisis so far without really being affected that much. Of course there was a big drop in March, but which asset class didn't tank in March this year? There are many more mid cap stocks that are much more volatile than bitcoins. I believe we all can rely on bitcoins for the future.

I am also earning from bitcoin and from this crypto world but i have to say that there is too much risks if we just solely rely on bitcoin without other sources of income. Bitcoin price does not always stay on top and is always crashing and crypto cannot even stop if the world's economy will bound to collapse. Many people may have found their fortune in crypto but not everyone is capable of what other people are capable of.

Very well said, mate...I certainly agree with you from the first line down to the bottom. I am also wondering why on Earth that China was always the first place that started all this Viruses now. Probably, they lack with proper hygiene and cleanliness...I am not saying all, but I guess a lot. And they used to eat those exotic foods.
This swine flu which is similar to 2009 H1N1 virus is so horrible if it spreads rapidly, knowing that Covid-19  is not over yet 😢
For now, we just need to pray hard for everything to be fine. And as this quarantine days continues, I am just trying my luck here in cryptoworld. Hoping that I could join some good bounties and earn profits. For me, it is better to try learning and working here than doing nothing at home. Thanks anyway, for sharing your thoughts here. Stay safe 💕

Obviously no.

In terms of sustaining your livelihood, I don't think you will be able to do that. Cryptocurrencies are still new even though it is over a decade in existence. The problem here is that Bitcoin and other cryptocurrencies are not that adopted yet by a lot of countries. You can use it in a country as long as you convert those into fiats.

In terms of investment, it can give you some profits but not in the way that it can sustain you also, it depends on how much you've invested in it.

You're right,bitcoin can only be helpful in the country where you can exchange it into a fiat money. Although bitcoin  is not a reliable source of income but this time that we are struggling because of covid 19 pandemic,i think it will be a better way to earn while most of the peope are stay at home and lost their job. It could help to survive our foods for daily needs.

That is because the government is not already accepting bitcoin, but people could still use bitcoin and convert it to fiat money by help from the third party. Still, bitcoin can be a new way to make money as not all people out there know about bitcoin, so if we can try to search for more way to earn money, we will have a chance to make money like other people who already tried. And before many more people know about bitcoin, we can get that way and make money, so when other people out there know bitcoin, we already have more bitcoin.

you need to read more because the news, a new swine flu disease from China again It is not neutral and you may notice a lot of news about the epidemics many people want to read these news.
no need for all this panic, things are under control.
Take care of your family’s health and try to keep working without stress. Humans are great at coping with diseases and will survive.
Panic and fear are what will proliferation, weaken the economy and overburden.

I do think we all understand one thing and everyone have one thing in common : We are fed up of the current economic situation and also of the way the government dominates the market in the most unfair way that most of the money goes into the pockets of rich people.

We have long read about the gap that is between the rich and the poor and with time it is only widening , the Corona pandemic have proved that the Current system is not only inadequate but it is also unfair for the common man. We need a lot of change in the society and the way the things are handled perse ~

I do think one can very easily trust the cryptocurrencies because they are not owned by anyone but they are Owned by YOU! Therefore it is in your hand how you use this freedom.

You might combine this with your amazing business idea and earn millions or you might sit there criticizing it when you don't really understand the reason it was created.

Bitcoin is not ready for that, some individuals can use bitcoin like that and help themselves during the pandemic but it is simply too soon for a significant amount of people to do this, it is better for you to try to earn money in the traditional way and treat any income you get out of bitcoin as side income, after all you do not want to miss an opportunity to get employment in the formal economy now that such jobs are even harder to obtain due to the pandemic.

Firstly, it is worth noting that today the deaths are not 1 million but 520 thousand, which at the moment is equal to mortality below one percent.
But as for the impending crisis, it probably can take as many lives as the riots and the difficulty of survival for people and businesses.
I want to believe that we will not get involved in another war.

Relying completely on BTC for all your daily needs and stuff?
I'd say a straight no to this as there's no such possibility for BTC and the whole cryptocurrencies yet to handle the whole world at a stretch because of their least prices and uncertain distribution, while another thing is that cash is still available digitally which is why BTC won't really be a big deal for any consumer out there.

That very much depends for what would you like to rely on Bitcoin. Buying stuff for daily needs, saving for entirenment, investing or something else.
By nature Bitcoin is risky so fully relying on it.in.any sense is risk. I think that we still need to combine Bitcoin and other cryptocurrencies with fiat money, without that it's hard to cover all our needs just with cryptocurrencies and we are exposed to too big risk.

having two currencies at hand , one is offline and one is online such as crypto and fiat are indeed can give us more stability or reliability in any condition  than compare to one currency only  , that is what i noticed lately . 

relying also means that we must save so that we can use something in the time that we need money the most   but saving is something that is hard or impossible to some people because they used thier money in unexpected events   .

I also think that the investment aspect is what makes bitcoin popular because it can give out some profit if invested on but relying on it to perform as fiat will not happen anytime in the near years to come

There will be a time that we can rely on  Bitcoin and cryptocurrency but not now, that time that is will in use in the agric sector, supply chain, AI and robotic, real estate etc. We are still far away from this but it will happen in phases

There are ways that we can rely on bitcoin, but I don’t really know about this helping to rebuild the economy :-\.But I know for sure that bitcoin can help in contactless transaction so that there wouldn’t be more cases of people spreading the virus by touching and using paper money. Apart from that bitcoin can help companies work remotely and they can employ people from around the world and pay them using bitcoin.

I was once working for a company that was in a country different from mine and they were paying me every month using bitcoin. There are also other ways that bitcoin will be helpful. As of now due to multiple methods are available for spending bitcoins, we may rely on bitcoin alone to lead a decent life. But, we must have proper fiat reserve so that we could manage any unexpected situation if happened.

I think it depends how you're earning in crypto. It can sustain your daily needs if you're earning good amount using your skills or you have a talent where you excel and make money through it.

However if you're simply an average earner and dont have stable source of income then it cant work. We often say dont rely in your earnings in crypto and get a real job to have a stable income so doing the opposite might hard unless you are not relying on the status of the market in order to make profit.

That's how good bitcoin is since it can make us transfer money from anywhere without touching people nor any solid object which have any contact from the other person, But this is different story if we talk about relying to earn a living with this since this could give a 2 different scenario, If we just rely on the jobs here for sure we can't assure on what will happen in the future since there are so many treats that can make the bitcoins price fall and for sure we will get affected on it if we will experience a huge fall. But if we create a good business where people can easily adopt and use our service provided then provably we can rely on it since the potential income is big and we can explore more for another ventures.

Actually, there are 550000 people die cause of Covid-19. But as the curve chart show and the increasing in the number of infected, it is hard to stop covid from killing more than a million. This really a nightmare to all of us since we have to suffer a huge loss in both human and the economy. This pandemic gonna extend for at least half a year

In my opinion, bitcoin and cryptocurrencies are assets in which people can buy and hold for a better economic situation. However, I doubt that bitcoin can make a huge impact to the world economy. The number of people who know bitcoin are really high, but the truth number of people who understand bitcoin as well as use it in daily life is slightly small. Moreover, in many countries, bitcoin is considered as an illegal asset which you will be arrested if you are caught using bitcoin as a currency. Therefore, only a small group of people (including some of us) are benefitted from cryptocurrencies, not the whole economy

As I said, it will not be a good way to sustain your livelihood.

This pandemic will not just challenge the government to take care of its country but also the people on how they will be able to take care of themselves and their families. It is time for people to make their jobs convenient for them so they don't need to go outside. Maybe you can use Bitcoin as a payment to online shops or being a reseller. Barter is also a thing here in our country, that really helps other people that can't really buy things but have something that has value like fruits, vegetables, and livestock.

If you are receiving your profits by means of either online service or trading that allows you to
keep pocketing profits.


it's right to say that depending from how you get bitcoin / cryptocurrency.


I get that, if the source itself came from your job then it can be said that you can rely on it.

Wow, you really rely on bitcoin and cryptocurrency for your living? I am having hard time on earning here but that is not the reason for being here in the forum. Earning few cents is just secondary objective for I am here in this forum to learn more and have fun doing reply on some complicated posts?

I do believe that bitcoin and cryptocurrency is another level of increasing economic capacity but one should not rely on it. There is no assurance of stability for you to make living.

Me to I wouldn't bet on bitcoin everything. Actually I already invested in it and its share is only 10% out of my whole investment portfolio
Bitcoin is extremely helpful in countries like Venezuela or developing countries of Africa.

Countries must reassess their economy and its impact on life and health.
people have been severely affected by these measures and must guarantee the rights of these workers or provide them with more jobs.
Countries that have not imposed punitive measures to prevent the economy from collapsing and focusing on workers and the weak class will suffer in the future from the consequences of this epidemic, and governments may fail in the elections.

what do you mean by Relying?

Because if what you are saying here is our Investment for our daily living?sorry to say but this is not since the volatility of cryptocurrency will kill our dream.

But if what you are pointing is the chance of Gaining Good profit in no specific time?then i may say yeah,because the long we can Hold our currency is the more chance of making money for the next years.

As to your question simply, yes! If you rely on Bitcoin as the premise which changes world currency for generations to come.

It’s one of the biggest exchanges people and volume wise with more than 200,000 people actively trading! It’s got a great user interface, fast loading charts, lots of cryptocoins big and small, good response time from their helpdesk if you run into some trouble you want an answer to. They have the lowest exchange fees off all exchanges, only 0.1% for buy and sell trades! They have trading competitions running from time to time when new coins get listed as well.

It’s got the major coins listed like Bitcoin, Ethereum, Litecoin, Neo, Nano, Waltonchain, VeChain, OMG but also lots of smaller high potential coins like, ETHLEND, Odyssey, Dent, Dragonchain, Elix, Oyster, DeepBrain Chain, Credits, High performance blockchain and many many more! It’s listing new coins very often and you can even vote once a month on which coin you want to be listed. It’s also one of the only exchanges that distribute GAS when keeping NEO on their platform.

There are trading pairs against BTC, ETH and USDT, NEO but also against their own KCS token. When you hold their KCS token on the platform you receive a daily dividend. They give out 50% of trading fees every day to people holding their token.

From the previous years, we don't have the bitcoin and the cryptocurrency world exist and by that, we are only using the trade of money or items just to buy all the things we need and this time they want to become digitalized all of the things right now because it is more convenient and also with the help of the blockchain all of the transactions we made are now monitored which is a good thing we can see that confirmation if we are going to get our funds or not.

Still, some of the people do not know about the use of the cryptocurrency and the bitcoin and they are still living so this is actually a bluff that we cannot live without the use of the bitcoin and the cryptocurrency, still to those people who are earning a lot with the use of it it is quite hard to them to live because this is the source of their income.

That's the best way to do it, never put all your faith into just one asset and diversify your portfolio to different assets of different markets, for example you can use 50% of your portfolio and buy Bitcoin and Ethereum and you can invest the other 50% in valuable metals like gold or silver.

That way if gold crashes for example you have still crypto to make up for the possible loss, but keep in mind that crypto and gold/silver tend to follow each other sometimes so it's not 100% safe strategy but it's definitely better than just investing all in one asset.

For this to work out, you need to buy physical metals

But not many people are actually willing to go that far because physical metals are pretty cumbersome to buy and store (not even speaking of the hefty premiums you would have to pay). If you are investing in paper gold (under whatever name), you are not actually diversifying your portfolio as a way to mitigate economic risks since you are still vulnerable to a systemic collapse (read, all paper will burn)


Gold is unlikely to crash much and for long. But if that, nevertheless, happens (without any viable reason), it will be a good day to buy hard

Having crypto for a jobless people will actually give them away to survive but couldn't think that it will give a sustainable way to fill all our needs, to buy stuff and other necessities but have to look for another way.

We can't just rely upon Bitcoin, not only because of its volatility and we aren't sure of what will happen in the following days but also because our income in crypto isn't stable. In fact, joining campaign and services won't mean that it last longer sometimes is just a month or even a week. Things that we can't think of how this could become a reliable source of income. It all just temporary and it much better to have another source of income.

We can't really rely on bitcoin right now. It is a speculative asset and it is not that giving a good profit lately as it is stagnant these days. Though it gave people a lot of profit in the long run, it is not really reliable and dependable so better chose another way to earn a profit, take note that you need a reliable and dependable source of income these days.

   FlightyPouch I think the answer here depends on what to rely on here. For us who doesn't have enough we can't rely to live
from our crypto-income, but there are people who are earn a lot in crypto-currencies, they can sell parts and still have a good life,
and savings in crypto-currencies.
   I don't rely on crypto-currencies now, I invest and hold them. On what I rely on is that crypto-currencies will change the economy
we know, and all who have them will have benefits from getting in early stages.

I do see most people on this discussion have stated similar to you. But, I have more faith on cryptocurrencies and I am having more than 90% of my saving only in cryptocurrencies. Because, I do not have any doubt on the future of cryptocurrencies and that is proved right after this pandemic times like it seems bitcoin has defeated the pandemic economy slow down as it manages to get back to the price ranges where it was trading before the beginning of pandemic times.

Still I need to agree that only time will judge that I am right or not; because it is too early to conclude that I am doing right with cryptocurrencies. As per my experience, I do suggest anyone to go for relying on bitcoin for a better future regardless of how world economy and pandemic are doing right now.


Yes, it will be depending on how much they are earning in cryptocurrencies. But I guess, when you are jobless and you're going full-time in cryptocurrencies then there are big opportunity for you to earn and have more cryptocurrencies so that you could afford to buy all the stuff of your needs through cryptocurrencies.

So far this seems like the best a strategy to implement, holding only fiat is a mistake because as we know governments are printing money like crazy and this is reducing your purchasing power, but only holding bitcoin is not the best option either because you're going to be very limited in what you can do with it, so the best option is to hold both, with your fiat you can buy whatever you want and need and you can use your bitcoin to protect yourself from inflation.

As of today, we cannot still rely on Bitcoin and other cryptocurrency due to their high volatility.Lately the profit on bitcoin has not been too good due to the rising and falling in the price but it has a lot of potentials especially when it is invested for long-term and it can also sustain present needs (depending on the amount you have) but for other cryptocurrency, they cannot be relied upon as an asset like bitcoin

Bitcoin and other cryptocurrency has proven to change the lives of many. Through it's volatility many people earn a lot and make their lives better.So ,i think even we are experiencing difficulties caused of this covid 19 pandemic,we can rely on bitcoin and cryptocurrency as a source of income rather than nothing especially now that the number of unemployed keep on increasing.

Bitcoin is really beneficial, it helps us with our finances, there are many things that bitcoin give to us, there are many people that consider it as their source of income especially with this current situation. Just like me, as of this current situation bitcoin becomes my savior, it removes my boredom, this pandemic makes me focused on cryptocurrency and to this forum, I become active more not like before because I am a student and my priority is my school activities, now I have my full time and I can spend it anything I want. I can spend it on playing games, watching Netflix, and focus more on cryptocurrency like trading and investing.

Relying on Bitcoin in a situation like now is the thing must to do. Very difficult to find income in conditions like now, where the spread of
the corona virus still occurs. The impact is that many people experience economic hardship, because many companies lay off the employee.
But after relying on Bitcoin my economy is getting better, at least I can buy my daily needs. I can make money by trading Bitcoin and doing
bounty, even though I have to be at home but still can make money.

If you’re going to say relying on Bitcoin, do you mean as an investment? As an investment anyone doing that will be taking some risks because the price can flow to any position at anytime. Unless you’re good at trading, that’s when you will be able to rely fully on it and be trading daily and making profit.

As an investor, you’re not the same thing as someone who is trading it every minute, you’re basically just keeping your money and hoping that the price goes up so that you make profit. So, it would be best to look for things to do. There are lots of things that one can do to earn, even in this forum, so better to engage in some activities than expecting that money will come from nowhere.

Well, if you are considering signature campaigns as the only way to earn and rely on you are absolutely mistaken there. There are many ways you can earn crypto which can be as complex as affiliate marketing for bitcoin based casinos or they can be as simple as being a bounty hunter for various bounty and trade them for best price while there are many other ways like services in the marketplace section in the forum.

I personally do not rely on bitcoins for my livings but working for a few hours help me generate enough money that it goes a long way in fulfilling my dreams because the salary I get from my job is already not so good because we are working from home so the salary is cut-ff by a good number.

That is true and I have seen a lot of people who used to do nothing earlier around me are now actually trading with bitcoin's price after they got to know about it and while not all of them are great at it, they at least are getting started so yeah crypto has a lot to offer during these rough times and there are many ways through which one can earn right now depending on their skills. Bitcoins are just currency for me as I use them for transactions so I can't say that I rely on bitcoins but yes it has solved a lot of problems for me and small money I make here at forum also helps during this time.

By the way the signature below your post shows $20 free for signup do they require any sort of verification etc and do we get the $20 straight away from joining it?

I think it will usually depend on the situation But Bitcoin and Cryptocurrency Can Rely on Although Bitcoin and Crypto are not stable currencies if prices rise Bitcoin investment will help improve a country's economy. Even though people are currently unemployed due to the virus bitcoin investing is helping them to earn money and they are able to overcome the financial crisis very easily.

You are saying that these people with a lot of cryptocurrencies are actually selling them to earn money?

That just means they are making Bitcoin and their other crypto investments as a source of income by selling them everyday to provide for their family? Not all of those people are actually selling their holdings since they can provide without them. They don't rely in cryptocurrencies, for sure they have jobs they can rely on.

Another proof they are not selling them is the fact that they are surely holding it and plan to sell it for a good price in the near future.

Yes and No.  Yes if we are working in cryptoworld, it can sustain our daily needs but in general we cannot rely on Bitcoin to sustain one country's economy.  As you can see during this time, Bitcoin had been struggling to sustain its upward momentum in the market let alone to sustain someone's economy.  It can help a person individually by the job created by some company that wanted to take advantage of the cryptocurrency market and its taxes but the effect of such is too small to help the sustainability of a country. 

Actually, bitcoin could help many people since a lot of opportunities to learn and earn in crypto. As we have been knew the price in here is not stable indeed so there's a huge risks if we're relying only in bitcoin to sustain our daily needs. Well that's good to hear that some are currently gaining through bitcoin investing but in my view it is also best to have an other option of source of income.

I do rely and have full confidence on the bitcoin and its future. So, did I had some years back as well and still continue to do so and also one of good thing that in life I did was that I trusted the right thing with crypto currency was believing in the bitcoin and the some of the altcoins as well. This for me is going to change lot of things in coming time and some things in my personal life has already changed because of it.

Well, personally, I would use a different terminology, more specific one

Bitcoin can be used as either a means of exchange (payment) or a store of value. The use that interests us here is that of a means of exchange. So the right question to ask is whether it can be used as a self-sufficient means of exchange in the economy of a whole nation without relying on fiat (provided we discard technical limitations like transaction costs and times)? Yes, it is volatile. However, it is volatile in some other fiat currency (mostly, the American dollar), and this volatility can be attributed and assigned to the volatility of that fiat

As I was reading the article it was only possible to transact with bitcoins everyday because of the project "Bitcoin Beach" that was started by Michael Peterson and that is the reason because when someone takes an initiative and educate people about it then it brings faith and the feeling of togetherness among people.

They are giving away $35 worth of bitcoins every 3 weeks which is actually small but still a great initiative and that is a lively example how bitcoins can actually help recover economies that are almost deleted by these COVID-19 times.

Thanks for the article because this made me so happy and made my day, I really appreciate such initiatives and news where bitcoin is helping the economy.

Well, you said it yourself. They may sell some of it but they don't rely on it. There are those that earned a lot of profit from cryptos but I don't think they really rely on it. Some people I know is just holding their btcs and cryptos right now and they are not planning to sell them since the price might pump in the near future.

Unless they are working for example, freelancing and taking their payments bitcoin, we can say they can rely on it but I would prefer to accept fiat if that is the case since the volatility of it may affect me.

Some people only buy bitcoin and cryptocurrencies to sell their cryptos if the price starts to pump up and exchange it into fiat that they don't want to hold and keep their bitcoins and cryptocurrencies in the long term. Unlike other crypto users, they do rely on bitcoin and cryptocurrency because some of them used their monthly or weekly income on their trades and signature campaigns for their necessities and monthly bills.

Ofcourse we can rely on  cryptocurrencies, it's the best and easiest way to transfer wealth without interference. With crypto, the future is bright.

cryptocurrencies are just as any other currencies won't worth anything if people won't buy anything.
Crypto on its own is just a bunch of code and thats it.
Only while people do work and spend and buy stuff WITH help of currencies - those currencies worth at least something.
Thus being said you can't blindly rely on currency, you have to watch around and see if people still do use it

Well, not all of us wanted to do that unlike you. All of the crypto currencies I can get is being held for the future that if it pump again, I would be able to get some proifits from it. Since I can't really use it here, maybe we can say that people would be relying on it if it is widely used in their country.

Still, I don't think people would be doing that since most people would hold their bitcoins rather than use them especially these days that the price is unpredictable.

And yet, why do you mention only btc? There are other very decent coins and much faster/better to use than BTC. Maybe it's time to finally let go of Bitcoin and move on to a new better world? It looks like you continue to manually build a fire for cooking every time in the times  where everyone is already using induction stoves and microwaves.
No, I'm not downplaying the merits of BTC in the field, but I dare say it's time for us all to move on.

He mentions "Bitcoin to sustain" because through it he achieves some income. I think he works from home, receiving payments in bitcoin or another cryptocurrency. Although we do not yet have a massive adoption, bitcoin is the first most liquid asset on any exchange and you can exchange it for your local currency. Which makes it a convenient asset when you want to get cash in your bank account.
As we know Bitcoin has not shown a constant bullish price, but we have altcoins that luckily you can play around with and earn a certain profit margin.
I look at it that way because it comes from my own experience.

It seems to me that one of the most important benefits that cryptocurrency will give to humanity is the eradication of inflation, because the government will not have the ability to print paper money. But this will happen only in a certain future, since due to the high volatility of the cryptocurrency, its mass adoption is delayed. Nevertheless, cryptocurrency is still one of the most attractive and profitable investments, and you need to take advantage of this moment.

If combined with other sources of income you can rely on bitcoin and cryptocurrency, but never solely on them. I say this because we shouldn't put all our hope in a currency, that is just a mean of payment or a store of value to generate passive profit, not a production method.
Only goods and technology production can rebuild a country solid and those should be the main sectors to rely during crisis times, keep currencies secondary.

Bitcoin and cryptocurrency are very good for easy money making Bitcoin is very helpful in improving the economy of a good country but it is not right to be completely dependent on it because crypto market is not stable. One of the disadvantages of this is that if for some reason the transaction becomes incomplete there is no way to get the money back even if the recipient does not get that service If the Bitcoin wallet is lost or damaged it cannot be recovered Bitcoin as a medium of exchange is not at all stable For this you need to have the skills of crypto as well as other sites.

I do agree that Bitcoin shouldn't be our source of income since it is really undependable.

The problem though from what you've said is that Bitcoin is helpful to improve the economy of a country, I don't think so. Usually, the government are not getting taxes from it so I don't know how the country benefits from it. Another thing is that it might give profits to people but I don't think it is enough to say that it can help the country.

Crypto currency and bitcoin is not an easy money tools there is a way to earn but not all is lucky to have stable income in crypto world.

You can't only rely in crypto currency unless you are early adoptor  that Just looking for a way to spend the earnings you have for buying it earlier .

Or else you have other business  and you only use crypto currency as side income and what ever happen to the price you will  never feel it as a problem.

This is an over-generalization, and an erroneous one at that

The blockchain space has already become a single source of income for thousands of people across the world. But let me guess, you refer to a signature campaign as an unreliable source of sustenance and livelihood, or any other odd job here or elsewhere. If so, then I would definitely agree with you. However, Bitcoin is not just about signature campaigns on the forum, nor the forum is the only place where Bitcoin is valued

Nothing wrong with that just do not forget to try to get a formal job, the opportunities in this market are limited and you could waste a lot of your time doing bounties and not obtain nothing out of it, I think the best option is to do both, to have a formal job in which you are paid with fiat and to try to earn some money with cryptocurrencies, that way if one of your sources of income dry up you have the other one to help you in these times of crisis.

It's not an easy access for continuously earning profits, but if you have the right sets of skill then the chance is high.

If you learned much earlier your chance is much greater than those who are just starting, you have experienced and money to use.

It will be much easier to hold and wait if you are treating this venue as side investment, less stress and you always have peaceful mindsets.

(Cryptocurreny) Bitcoin can certainly be relied upon for those of you who are affected by a pandemic. all depends on how you use it. simply , if you consider Bitcoin as a currency then the tendency that you will do is to use it as a means of payment. if you think of it as an asset, then you will definitely think creatively. like we need to sell it, buy it, invest it and all things that are aimed at making a profit.

Crypto could help us on our personal needs like food and other things but I don't think that we could really rely on it for a long time.
We are earning from crypto by investing and trading if we don't have other source of income then our investment in crypto would also be affected and it would leave us with nothing.
So I think we could only see it as an extra income not the true source of income we couldn't really rely on it too much.

Upon entering this industry, everyone must know that we cannot always remain reliant into what we can earn in terms of Bitcoin and into any kind of cryptocurrencies for there may be times that it will be on the downside or on the upside. That is why those who are new are being encourage to find many more possible ways on how they can earn a living if their main reason why they get into Bitcoin is for the reason that it can sustain their daily life needs. Well, that was a mere expectation that everybody thinks when they first know that it is possible earning through Bitcoin and other cryptocurrencies.

Yes we can earn through Bitcoin and cryptocurrencies but we are not just settling on this because out of this industry, we are still having decent job that may be based on our profession or other kinds of job that can assure to give us a living. At this time of pandemic, we still can earn through Bitcoin but just quite somehow maybe through trades or campaigns but what we certainly rely on the expenses for daily are coming from recent earnings from our work and it is now possible for some to get back to work or through work from home set up. It is a mere misconception of many that because of earning through Bitcoin and cryptocurrencies, we can be reliant on it, then that is not true. Still seek for job to sustain your daily needs. Work that is suitable and attainable at this time of Pandemic.

Cryptocurrency has two type of volatility: long and short volatility. In this type of situation (pandemic) we find ourselves in, cryptocurrency won't be of help cos we need steady income to survive than waiting long for profits.
Are you ought to, to invest in bitcoin with your upkeep money? If yes, feel free to do that but don't expect a uplift of price soon

cryptocurrency can be relied upon when the economy is in the current phase, if we have income from crypto we should focus ourselves on being able to work from home so that we can always make money even though the source of funds we get from crypto itself. because on average most governments do the same thing to their people to stay at home and still be productive in utilizing the internet network

It's depend to the situation of every individual that in crypto,beause not all are have knowledge about crypto. A lot of things we need to study and to know about crypto before we can use it as a earning for everyday life. So before we do step to rely in crypto we need lot idea and information.

Im not even thinking about the btc we got from sig. camps.

Since the OP talked about the pandemic, that also means people who just invested in cryptocurrencies thinking that it might give them sustenance without a job. The price will not always go up since we all know that it is just a speculative asset. I mean just imagine an individual without a job investing in Bitcoin and have his profit from it use to sustain himself, thats what im trying to say.

The price is a decent one and during the pandemic it has also been stabilized around 9k.
Cryptocurrencies and Bitcoin is a good alternative for remote working and making income while traditional companies are closing one after the other. The future is online and bitcoin is the fuel for this change.

Can we rely on fiats anymore? Printers are running on 110% in the USA and Europe and some others might follow soon. BTC´s current range movements could indicate a certain stability but eventually it is poised to break out, high likely on the lower end first and than with momentum up, up and away to new hights. The fact that more and more institutional investors join the bandwagen is good news and the scarcity makes it a competative asset for every serious big players portfolio. BTC already has a good reputation, in comparison certainly, so chances are good more and more people will trust cryptos and join the party thus again strengthen the network and community

I believe the swine flu is definitely under control and won't spread like the Covid-19 since it was discovered early.
They will find a way to handle it, and if that was the case with Covid-19 it wouldn't have gotten to a level of becoming a pandemic.

So, let's hope that this one wouldn't be spreading too much. And as for relying on Bitcoin, it depends on what you mean; are you referring to relying on it as an investment or in another way? As an investment we can't tell what will be the outcome, investments always carry risks. But there are jobs you can do that will pay you in BTC. If we are lucky the price of Bitcoin will start growing soon.

I count only one type of volatility which is price inaccuracy and leads to both up and down, sometimes at the same time.

Even gold can sell off, maybe to the degree that it can half if we take the 1970's price action as a template for any volatile market.   That was even within a bullish period so I imagine the same is possible for crypto.   The reason is gold is cash and similarly, BTC will used as cash and sent for a sell when people need it which in economic pullback is often possible.
   The sell off in gold like March is not something that lasts but still it can disturb people enough that they trade poorly and end up with FIAT which invariable loses value no matter what.

And from the problem of inflation, we will then come to the problem of lack of money. Government will never use money that they couldn’t control. So, what the difference between print a little more papers because the economy does not have enough funds for calculations, or add another sign (tenth) after the decimal point of the whole coin?

It should be understood that there is a loss in the crypto industry, you can not always rely on bitcoin because of its fluctuating value which can lose you at any time. Indeed there may be some people who rely on bitcoin and can sustain their lives, but it is not that easy to do. Especially if you associate with the world economy or country, because bitcoin will not easily help provide a solution to the country's economic crisis.

Bitcoin can give income to these individuals that are working home, it gave profits to people who invested on it for a long time now but they can't always rely on bitcoin since getting a profit from it still takes time. We are talking about a profit that can sustain a family, unless you have a huge amount of investment in bitcoin, you will not be able to rely on it.

For the time being we need to rely on fiat as most businesses in any country accept fiat and most of them do not accept cryptocurrencies however I think we are reaching a breaking point, governments are resolving every single crisis by just printing more money, it is as if they do not know any other trick, but what it is going to happen when the crisis itself is caused by printing too much money? At that point they will have no way to solve that crisis, but people like us will have bitcoin to helps us deal with it.

If being reliant means that it will make funds for you to spend on your daily necessities in life, then it is a no. We already know that the price and behavior of the market is very volatile to just depend your daily necessities only on Bitcoin and into any other cryptocurrencies in the market. Well there are times that you can earn a handful or tons of money if you were really good at trading and investing but those were just like sprouting and not stable. Being reliant on cryptocurrencies will give you sometimes good and bad results. At the first time you got in here, you must treat this as a secondary source of income and not a primary one because of its volatility.

If you do want to be reliant into something that will give you stable source of income for funding your daily necessities, better seek for job and since we are on the pandemic, it is still hard to work since job opportunities are very rare. But before the pandemic, you must have come to think of it that earnings in cryptocurrency are not always good all the time so you must have always save every cent to have something to spend at times like this.

We cannot fully rely on crypto since there is no assurance if you will earn something or not. Even if you are earning crypto because of a job, it is not stable. Everything in crypto is about risk. Find a job for stable income for your necessities. I understand that it's difficult to find a stable job now due to a lot of people were laid-off, seek for opportunities and don't just rely on crypto.

It never I think happen that one can really trust and rely on earnings in cryptocurrency just by doing bounty hunting. This is not a gambling where you have to spend your time doing task and then get scammed by the team promoting the project. I think there are still many of them doing this stuff and never get tired. In my case I learn lesson that doing bounty campaign is noy really helpful to mae gains or profits unless if one i ls skilled and being paid with btc. thay would be good then if a project pays btc rather than tokens.

Reliance doesn't make things better, bitcoin is also volatile so you can't put all your eggs in one basket, we never know when it will skyrocket or dump but I can say for sure that you should not put all your eggs in one basket, diversify your financial endeavors so you can still have a constant cash flow even if there is a downtime in one of your investment, cryptocurrency is a promising financial tool but that does not mean you should worship it.

Exactly. You hit it at the very point. Even if you are earning with cryptocurrency there is no really sense for you to just rely on what cryptocurrency can give to you because the income in here is not stable to support or fulfill your needs in daily life basis. Even if you are earning enough from cryptocurrencies, still it would be much better to seek for a stable job to earn stable income and just treat cryptocurrency as your secondary source of income or your back up source of fund.

Reliance in crypto will give you no good because you will just get frustrated to think that you are only having income for quite some time. Unlike having a stable job that will provide you stable income to sustain all your needs. We can expect earning from cryptocurrency but being reliant and contented on what you can get from it would not be an enough reason because you will never know when you will need money so it is still a best choice to find a stable job that will sustain all the necessities and do not just rely on what cryptocurrency can offer.

I don’t see that its a best choice to rely in bitcoin and other currency since there no insurance for me to have permanent job here and the payout is still not enough to sustain what I needed. We still need to find a regular job and use our skills. Small businesses have no access to internet which need to transfer their coin and some countries are not yet modernize. Knowledge about crypto is not yet spread throughout the world. Countries banned the use of cryptocurrency because of illegal activities related to it. There are points need to consider before we could totally rely in cryptocurrency. It’s not impossible, we just not in the right time. 

When the ico craze was at its full power there were many people that earned a fortune with those bounty campaigns not only as their coins went up in value but many of them cheated those campaigns and obtained more coins than they should, but since then everything has changed and those campaigns are nowhere near as profitable as they were before and anyone thinking about relying in such campaigns should change his mind as there is no way to get a reliable income with them anymore.

Some of the answer to this question is in the contrast to alternatives.    Always the market will look for the most efficient solution, theres been alot of talk recently on processing capacity and greater systems then BTC.   Generally BTC wins out because it has the highest security and sufficient capacity to satisfy demand most of the time, its still something which needs development or I would expect another solution to take over.
   The biggest point in valuation of BTC and surprise its had in exceeding any price people expected is because main market currencies, the dollar world reserve currency is not entirely stable or reliable in its value.  This then gives credit to any regular system of exchange even the wild west of new age Bitcoin money.   Thats my theory why crypto does so well because people cant trust governments not to waste value in national paper markets by distortion and stimulus, there is excess liquidity it leaks value and of course inflation in all prices will occur.

People have given up their day jobs and has moved full-time into cryptocurrency related earnings and career. These are people with high investment as well as after learning about the market. A common man too can make something out of cryptocurrency, but in between should not look for big profits ending into a big loss. Most of them relying on Bitcoin and other cryptocurrencies keep on practicing trading which is the base where the money flow of cryptocurrencies were found.

The volume of cryptocurrency is rising and this is because more investors are buying in. The covid-19 hard time has made people out of jib and they have hugely moved into crypto and online investment. We are going to see more volume increase with time during the end of this year.

Saying that relying on bitcoin isn't possible is not a informed sentence (not about you, but about OP), basically, as you do say, many people have moved full time into cryptocurrency related careers, and that speaks volumes of the potential cryptocurrency brings into the table. Not everyone in the area trades either, I know a fair share of people who don't trade for example but earn in bitcoin exclusively for example.

All depends on what you are doing  since if you just rely on it and work without knowing the technicalities and what type of jobs you can work on it then you will never rely on bitcoins but if you are knowledgeable and can able to market your skills or build a business by using crypto for sure you can create a money source from this.

Even though bitcoin or other cryptocurrency is a big benefit, we still really need fiat currency, both things are important and both things have their own purposes. For me fiat currency is good for daily lives, the example you want to buy a snack at sari store then you cant use your cryptocurrency because they don't accept it, then that is why fiat currency is important because that is the only currency that you can use to purchase things you want.

Why only relying in BItcoin alone?when there are other crypto that may give us good chance to profit?
the search for crypto currency is increasing because of covid19 but this not stand only for bitcoin instead other top 10-20 currency as well.
Of course because Mass adoption is still denied for all of us,but at least we have opportunity compared to other people that has no idea about what crypto is all about,or those denying this market even that they are seeing some positive about this.

Anyone who invest in Bitcoin or in some of the other cryptocurrencies need to remember that their value is purely based on speculation. They don't exist in the physical form and therefore the risk involved here is very high. Theoretically there is even a chance of these assets becoming completely worthless. There are people out there who have 100% of their portfolio comprised of cryptocurrency. But it is not something that I would do or condone.

Bitcoin & others cryptocurrency is a good way to save your assets but don't think we should rely on it fully. Growth of cryptocurrency still progressing good but still not much people knew about it.So we can take bitcoin & cryptocurrency as a passion not recommend to take this as a profession.

I believe in the process of adoption requires years and for me bitcoin is doing a great job reaching towards its mission propagating the ideology of it to the world despite the pandemic we are experiencing right now. It may hard to overcome this pandemic but we must be positive always that vaccine will be available soon enough this year or maybe next year.  It's good news too to see market is going stable again and bitcoin is going back to its track and Ethereum showing great run as well as some altcoins are showing off.

Cryptocurrencies are not that reliable thay is why it is better for them to find a job with stable income.

Doesn't mean the price is going up means it will go continuously like that. No one knows what will be the movement of the price but all we know is thag it can give a income. But an income you should not rely and expect to give you weekly and monthly income you can use to sustain yourself.

Please,this pandemic is ending and will end itself very soon. The only help Bitcoin could do is to be available for a spend for survival especially for those who lost their jobs and those who couldn't even go to work in the lock down. I don't think it has a solution for the pandemic. What I had suggested was if their will be a raise of opportunity to relief those who were really stranded. But at this time, those who will survive are already surviving.

Look while I agree that since bitcoins are not centralized so there is always a higher risk when investing because you cannot hold someone responsible for any problems in future. But that said since the bitcoins are decentralized the power lies in the hands of us investors and traders who can make the price zero or millions because no one is controlling it brings true benefits and a scarcity in future because of the fixed number of coins to be mined and hence the demand is going to increase honestly speaking.

I would never suggest to rely on any asset let it be bitcoins or anything because relying on any asset for future is a very passive approach and I always like to think that we should have active earnings to compete in the current scenario. You should be ready for adverse conditions and being pessimistic is sometimes a good idea so that you prepare for the worst.

I don't understand how will these people rely on bitcoin and other crypto currencies since we all know that mostof them are volatile. They will not be able to get income that they could use to suatain their safety and get their essentials during this pandemic. They might be able to get a profit but that is not enough.

Cryptocurrency can be counted on in the sense that with the coming global economic crisis, it should show itself as a financial instrument that is not subject to inflation of conventional currencies. In practice, this means that when the currency of states due to the coronavirus pandemic falls in price and inflation rises, and the cryptocurrency does not experience such a fall, then people will start investing in cryptocurrency and therefore its price should rise.
This will be the first time a global economic crisis has broken out with the existence of a cryptocurrency. Well, it looks like we will soon be able to see if such reasoning is correct.

It's not being influenced due to its decentralized nature, it's  good financial instrument where you can control on your own way but subject
to volatilities.


People who are seeking for alternate ways and see the advantages of decentralized market will come and invest indeed.


We will see if how strong this system can perform and be ready once the global industry start to adopt and use this chain.

We will have to see how bitcoin moves under those circumstances, after all it is entirely possible that at the beginning of such crisis the price of bitcoin goes down as those that have lost their money in the traditional markets begin to sell their bitcoin in order to cover their losses and then the price of bitcoin eventually recovers and skyrockets as people lose confidence in fiat currencies, now that I think about it this could explain the crash we saw in March and the recovery we are seeing right now.

Actually there are galore of jobs if you have the required skills. Now a days there are god number of projects being developed on the blockchain technology and one can easily find a sustainable job if they are a blockchain developer. I have seen that there is almost a scarcity of back end developers for blockchain projects and there are large number of smart contracts,etc being deployed every day so actually working for bitcoins does have a big scope in future. because blockchain technology is not just limited to bitcoins and in fact more and more real life project are being developed on this technology.

Bitcoin gave the world the blockchain technology but now it can be used in a number of ways and not just limited to bitcoins. I was reading an article earlier and I saw they somehow implemented electronic voting with the help of blockchain technology so there are countless possibilities with the technology we have now.

If the battle between Trump and globalists represented by Joe Bidden is won by globalists, the government's policies and approaches to cryptocurrency will change greatly. Globalists and their programs will get support like in the Clinton and Obama era.

In the Clinton period, the globalists moved their factories in the name of efficiency to China and several countries in the world. The Clinton era was the golden era of the baby boomers of the globalists. Globalists exploded to dominate the world peaked when Obama became president. These globalists have supported their manufacturing system in China because the Democrat Party is naturally close to the current Chinese leader Xi Jing Ping. America is a heavy on the private country with a support system in China benefiting capitalists who share efficiency. As for Trump, a nationalist, the practice is capital flight. For globalists, the important thing is less important and they believe that with one global government and one algorithm-based currency, manipulation can be eliminated and hegemony can be eliminated.

I don't think bounty hunters were ever in profit because even when the ICO business was at it's peak the people earning the most were either the ICO founders as they would collect massive amounts from investors. Also investors would profit a lot because there were decent projects but bounty hunters I don't think ever got paid too much and the coins they got from their work were either never listed on the exchanges and those that were listed they had poor value for the coin initially as all the hunters would dump their coins.

To survive in the current situation and to live with bitcoins and crypto based income, one may do freelancing jobs and there are many things to do as a freelancer because if you are good at researching you can write articles about various upcoming ICOs.

Bitcoin and crypto currency are a very good thing that has happened in this digital world. Though fiat will continue to exist, but the use will continue to fall of cash in coming years. Globally we will see crypto will have benefits as easy to transfer and no need to carry to wait for days for the transfer to happen unlike fiat from one country to another.

Even I work for crypto related projects but I have managed my job by work from home basis and I do these crypto projects as a side income and I take them absolutely seriously but I mean you should never quit your job because in case just suppose you don't have enough work then there is something you can rely on and get back to.

I can proudly say that with so many blockchain based project coming everyday there is a good demand for blockchain-developers and they are paid quite nice because I often help projects find developers and I know what they are being paid.

Indeed these are trying times not just for one person or a country, but for everyone all over the world, but I believe pretty soon the storm will will be over, so we can all go back to our normal lives.

I can't promise you that bitcoin will sustain your needs during this pandemic,so NO you can't rely on bitcoin, since it is a very speculative investment I can't give a 100% guarantee, we should just thank our lucky stars that we are able to work and earn some money in the crypto world, but crypto alone can't save us, so we still need everything to go back to normal.

PS: bitcoin can not prevent a country's economy from crashing, its not a "magical asset" Lol.

No doubt fiat is still the primary currency and essential to make a living. However during this time some places are in lockdown and we cant work to earn money, what we can do is to find other resources to gain profit. Crypto can give us an income but if you're an average investor and waiting for bullish market it might be hard to rely alone on your crypto income. So having other ways to earn like offering skills or apply as a freelance worker can be an effective way to maximize your earnings to sustain your daily needs. So plan and strategy are needed here.

This is just a perfect question for a newbie here in Cryptoworld.Thank you for making out this thread because I began to learn now upon reading all the comments here, that we can't really rely on completely to Bitcoin especially during this time. For just a newbie like me, I learned now that I still need to find some other alternative ways to earn and sustain my needs and refrain from thinking that I could get everything though digital currencies while working for several hours a day. Maybe, I guess in the future if I could have much bitcoin in my wallet, I could say then that I am secured.

Still from most comments , if you finally decide to put all your money in buying bitcoin, you might be taking same risk that you are trying to avoid. Diversification is the solution to financial strength. So that even when price go down, you still have other source of income away from cryptocurrency .

If investing in bitcoin is not conducive to improving our economy, it is helpful to solve the financial problems of the people living in the crisis caused by the epidemic. Due to the virus, many people are losing their jobs and turning to online work due to which the demand for crypto is increasing. However, you do not have to be completely dependent on it, you have to have skills in other jobs. The crypto market is not stable. Don't get frustrated when it comes to getting up and down.

Bitcoin is a great tool and in the case of a massive financial crisis it will be an asset worth holding but as you say it is not a magical tool, one of the things many of those that predict such crisis never say is that under those circumstances there will be massive chaos and crime happening on the streets and even if you were smart enough to hold bitcoin before the crisis that does not change the horrible conditions we will have to live through or that your coins can be stolen the old fashioned way.