5-10 years isn't really a long term, I bet nothing will seriously change in Bitcoin - the price will be higher than it is now, but it still would be speculative and risky. If some other major crisis will happen at that time, Bitcoin would probably react just as it did now.

Bitcoin today is ten times higher than it was 4-5 years ago, and still it is just as volatile. It will take really-really long for Bitcoin to become a mainstream asset like gold, if it will actually happen.

Bitcoin's recent price increase isn't tied to whatever is happening with fiat, it's just a correction after falling too much. I think sub-$6,000 prices are completely unjustified, since it's below the previous support levels and the market wants to be bullish because of halvening (it already had two small rallies).

Bitcoin isn't tied to every smallest market move of fiat or stocks, it's only affected when there are large shifts, like the recent stock market crash.

Sadly, the most vulnerable people likely don't visit this forum or other social platforms about Bitcoin, they probably bought it and keep it on exchange without doing any further research. This means that if you have friends who are like that, it's your duty to inform them about this scam or better just educate them about scams and other dangers in general, so they won't fall victim in the future.

Bitcoin has a lot of cool properties, but none of them makes it a hedge against global economy. Limited supply alone is not enough to make it one, you need faith of the population, and currently almost everyone who isn't a bitcoiner views it as a risky asset at best and a ponzi/bubble at worst. You can only start telling that Bitcoin is a safe haven when it actually shows that it is one during a major crisis. Maybe it will happen in the future, but right now there's no such correlation.

With diseases like the coronavirus you can't truly stop them, only slow them down, which is the goal right now.


Entertainment industry, tourism, etc. are taking a huge hit now, but people still go to work in many places, and office jobs allow their workers to work from home. It's not like the economy if fully stopped. And quarantine shouldn't last 6 months, the epidemic might, but the quarantine should be over when the epidemic will start slowing down.


And my answer was - no country will default. But if you want to make a good guess, I'd say it might be a country that already has weak economy and would be most affected by the anti-epidemic measures, so maybe it's some poor country that lives off tourism.

I get it that you are trying to stay positive, but thousands of people are dead, do you really think it's a fair price to pay for all the things that you mentioned? Also, people will quickly forget about environment and all that other stuff as soon as things return to normal. And what's worse, a lot of people are putting their heads in the sand and still refuse to acknowledge the danger, and they not only endanger themselves, but also everyone around them, especially the elderly.

And look at the US - they didn't take measures for weeks and are now projected to have much more serious epidemic. The previous outbreaks didn't teach them anything.

Bitcoin wasn't created to be a source of income, and its ecosystem isn't a good source of income either. There's simply not much opportunities and a lot of scams around. So it's not a good idea to introduce it as a solution to financial problems, especially with how volatile the market is. What you should do instead is teach about core values of Bitcoin - personal freedom, decentralization, controlling your own money.

You are right that a lot of people are staying at homes right now and might be bored, so learning about Bitcoin could be interesting to them, just don't tell them that it can somehow replace their (lost) jobs.

Well, the goal of a quarantine is actually to make the epidemic to last longer to spread the diseases cases over longer period of time, so that the hospitals always have enough capacity to threat people and as the result less people die. I think the current predictions say that this pandemic will last for a half a year or a year, but this doesn't mean that quarantine measures will last this long too. And economists say that this year will still have global economic growth, though it will be much smaller, something like 1.25%

There's no way it would affect the price significantly, Russia's Bitcoin use was always small, it doesn't have a lot of hashpower like China, it isn't a global superpower like the US, its economy is weak so there's not a lot of big holders who might want to dump Bitcoin. We've seen some other countries banning crypto and it didn't crash it, and it won't happen this time.

My prediction is that no country will have to declare default as the result of the coronavirus, because all countries will manage to deal with this epidemic, even if some will have it way worse than the others. China says they are already past the peak of this epidemic, and while their economy took a hit they are nowhere near bankruptcy. I think even Italy will manage.

Perhaps it will be some small and poor African country or some other developing country, but those might be saved by IMF or other sources of international aid.

The stocks continue to fall but Bitcoin is now on the rise, so for BTC the panic seems to be over or at least will be over soon. The crash was huge, it's very likely that Bitcoin was oversold, while stocks still can keep falling, especially since they were at ATH not so long ago. So, it's safe to say that we are past the bottom. I think there's a good chance that such low prices will never be seen ever again.

Stompix obviously meant "who will risk it [in Russia]". And it's a valid concern, because businesses won't be using it, there won't be exchanges to safely buy coins, and p2p trading is full of scammers. Yes, on a global scale Russia is insignificant to Bitcoin, it was never a major adopter of it anyway, but sadly 150 million people will have to overcome significant obstacles if they'll ever try to use Bitcoin. And maybe some of Russia's neighbors will decide to do the same, just because smaller countries often follow the bigger countries in new policies.

Panicking is one of the worst things you can do as an investor, when the price has fallen there's really not much you can do, the risk that it will fall further is always low, so it's unlikely that you will save yourself from further losses. People who sold below $4k must be really salty right now, as the price already increased by 50% from that.


To be honest, this is the first time Bitcoin experienced a global market crash, so it's not exactly the same as Bitcoin's own speculative crashes. But fundamentally nothing changed for Bitcoin, it's network still works, so in the long run this crash will have no effect.

Well, now we know that cash is actually the safe haven that most investors choose. People here often hate fiat, especially the US dollar, but in short term it's very stable and predictable, and inflation really doesn't mean much on a scale of weeks and months.

And as for volume, it's a closed loop problem - there's little volume so the price is volatile, and because the price is volatile volume doesn't want to come - less people want to adopt it or trade it.

Investing in Bitcoin when you are doing poorly financially is a really bad thing to do, you can't afford to gamble in that position. Even if Bitcoin goes to the moon in a few years, there will likely be a lot of uncertainty soon. Campaigns are also bad - they don't pay much and you have to be a high ranked member to join them, so it takes time and a lot of work to rank up (earn merit). You should have instead pointed him to crypto freelance platforms, but even those things aren't going to help much, the traffic over there is very small.

Bitcoin isn't a solution to any financial problems, it was created to solve only one problem - the problem of freedom. For example, if you want to leave a country and take your money with you, then Bitcoin can help.

My advice to people is to always look for a browser-based app first instead of installing stuff on their computers or mobile devices. In this case, there are websites that provide live data about the coronavirus, so there's no need to install anything. The browser is much more safer than apps, the attacks are very rare and hard to execute and browser vendors make very quick patches. Just don't use browser-based apps for anything sensitive like crypto wallets or password managers.

Mining will be profitable for as long as Bitcoin exists, because it was designed to be profitable - profit is the main incentive for mining, without it there would be no Bitcoin. If the price falls, miners would start leaving, difficulty would drop and a new equilibrium will be established. If difficulty gets too high, miners with more expensive electricity or less efficient ASICs will be forced to leave.

Now take all reports about quantum computers breakthroughs over the last few years - I'm sure there's more than these two, and I'm sure most of them didn't cause any significant price reaction, and probably some of them were more significant that this last one that supposedly crashed the market. Because if it was like you say, then Bitcoin would have these 30-50% crashes many times a year.

I think it's clear to everyone that the stock market crash triggered Bitcoin's crash, especially since the same happened with gold and other markets.

MERS epidemic was small, so it didn't affect the markets much. Same goes for Ebola - the fact that Bitcoin dropped during that time is a coincidence, as Bitcoin was experiencing a bubble that popped at that time. Now the recent crash was different, because it caused a real panic on stock market, since all countries were taking drastic measures that hurt their economies. Bitcoin was always a risky asset, so this time when things actually got serious, investors started selling it, which triggered a big crash.

You can come up with all sorts of theories about the disease - aliens, Russians, Chinese, CIA, Hillary Clinton and so on, but if you have to facts to back them up, these theories are worthless. And if you believe in things just because they sound right to you, you'll be just living in your own world.