Coronavirus is very harmful to fiat currencies, not bitcoin

[btc78]

Have you seen how governments responded to the corona virus?

Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.

Harmful for Bitcoin also because we have already witnessed the effect but not as harmful in fiat since the whole world is now having economic crisis.
but knowing how Bitcoin stands for 10 years?
It can recover first than Fiat so yeah we must remain positive in crypto than Financial problem of each government.

Indeed, it greatly affects fiat currencies but it does not rule out also anyone who holds bitcoin will sell it sooner

actually more have sold their Bitcoin weeks ago thats why we cans ee the effect in market added are those whales who already bagged our money and now waiting for another trap .

[1715522078]

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[1715522078]

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[naaimmd]

Have you seen how governments responded to the corona virus?

Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.

yes, and because of it, crypto is unpredictable and unstable. if bitcoin was stable everyone would have brought but since its rise and fall all-time people can't trust will it benefit them or they will lose money here. and we all know crypto is untraceable so the government didn't approve because they can't take tax from people which is not good for any country and most important people already doing moneylending using crypto. and I think BTC also got affected in this it was 9k and dump to 3.8k and now little stable in 6k but who knows it might dump again in 3k or pump in 9k.

[Emitdama]

What you guys really need to understand is that adoption for bitcoin spending everywhere around the world needs to get a lot better, right now people are talking about ways to not really deal in cash and not even touch each others credit cards. Is there methods where you can do other stuff?

Like that beeping credit cards where you don't touch, or QR codes and all that for the fiat currency? Yes there is. People could have used them but they are still not really all that wise about it and its not really all that popular just yet.

So, we can take advantage of the situation and could get the bitcoin payment systems a lot more awareness. If we create that awareness, if the companies that builds bitcoin cards actually market it like "want to not touch anything? Use our bitcoin cards and have payments without touching anything", that would really work for us.

[arwin100]

Have you seen how governments responded to the corona virus?

Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.

yes, and because of it, crypto is unpredictable and unstable. if bitcoin was stable everyone would have brought but since its rise and fall all-time people can't trust will it benefit them or they will lose money here. and we all know crypto is untraceable so the government didn't approve because they can't take tax from people which is not good for any country and most important people already doing moneylending using crypto. and I think BTC also got affected in this it was 9k and dump to 3.8k and now little stable in 6k but who knows it might dump again in 3k or pump in 9k.

That's the lapses on bitcoins on why government cannot trust this since the flactuation is very crucial and might people will lose if they put all their wealth unto this currency and unlike fiat we cannot trust tis actually since we don't know what the future brings since the flactuation is not stable and quite unpredictable.

But on the other hand Btc is really affected and we see now the effect people are now selling their hodl coins since many people are in crisis so they prefer to sell of to have fiat for their supplies and that's the reason on the big dump cames.

[Kasabus]

What you guys really need to understand is that adoption for bitcoin spending everywhere around the world needs to get a lot better, right now people are talking about ways to not really deal in cash and not even touch each others credit cards. Is there methods where you can do other stuff?

Like that beeping credit cards where you don't touch, or QR codes and all that for the fiat currency? Yes there is. People could have used them but they are still not really all that wise about it and its not really all that popular just yet.

So, we can take advantage of the situation and could get the bitcoin payment systems a lot more awareness. If we create that awareness, if the companies that builds bitcoin cards actually market it like "want to not touch anything? Use our bitcoin cards and have payments without touching anything", that would really work for us.

Yes. This might be the best time to promote  faster adoption of crypto instead of using fiat that is more prone to virus. If all people is already educated about crypto and how it works even before this outbreak happened, the chances for adoption might be high but sad to say, people are still sticking to fiat even how disadvantaged it is to use especially in this time of corona virus. Some investors are even selling their coins in exchange for fiat.

[perfect999]

I don’t see how BTC wasn’t affected when you know for sure that everything was affected, and not just fiat, but stock market and cryptoassets like BTC, eth, BCH and the rest. The whole market faced the wrath of the corona virus and some economists used that opportunity rant about Bitcoin and call it a failure, although we know for sure that it’s not. This was just a temporary case and after a while things are getting back to where it used to be at the top. The bulls has been able to defend the price and pushed it to above $6700 as of recent.

But in coming day, bitcoin may not get impacted by the economic slow down as bitcoin got core reasons to retain its value which may help it to keep attracting investors from most other sectors as almost all other investment/trading related things are highly impacted by economic slow down. When bitcoin remains stronger it will result again in gaining more value in short term itself.

[bearexin]

What you guys really need to understand is that adoption for bitcoin spending everywhere around the world needs to get a lot better, right now people are talking about ways to not really deal in cash and not even touch each others credit cards. Is there methods where you can do other stuff?

Like that beeping credit cards where you don't touch, or QR codes and all that for the fiat currency? Yes there is. People could have used them but they are still not really all that wise about it and its not really all that popular just yet.

So, we can take advantage of the situation and could get the bitcoin payment systems a lot more awareness. If we create that awareness, if the companies that builds bitcoin cards actually market it like "want to not touch anything? Use our bitcoin cards and have payments without touching anything", that would really work for us.

Maybe you're right, but I know that it still affects Bitcoin in the sense that fiat is the main monetary system and whenever situations like these hit people might be forced to sell their cryptocurrencies and still convert that money to fiat so that they can be able to buy food to last them till the situation is over. And when they start selling their coins it results to an increase in the price of Bitcoin.

So, I would say that this affects almost everything, though I am not sure if it was the reason why the price of Bitcoin crashed, I have seen so many cases being pointed at as the main reasons that caused the price of Bitcoin to plunge.

[Averim]

Have you seen how governments responded to the corona virus?

Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.

In Germany for example, the deposit interest has a negative value, banks need the cash flow, to many people put money away so by increasing the budget deficit the party globe is launch in the banks.

[panganib999]

Have you seen how governments responded to the corona virus?

Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.

Yes I do have seen how our government have responded on the rising case of this covid-19 pandemic. Our government have extended a hand on borrowing money from the world bank just to be able to sustain the needs of its people since many individuals are directly affected by this pandemic because many establishments are close which lead to people getting jobless and tend to stay at home.

It is indeed that this pandemic is really harmful directly to the fiat currency and not into Bitcoin because we are most likely using fiat to provide direct response on this pandemic to sustain the necessities of ours to be able to survive this crisis. This Pandemic have really gone through the limitations of almost all countries affected which lead them to create a loan or borrow money just to sustain the needs of its people during this crisis we are facing right now.

[Sanitough]

That is the only move by the government, the easy solution is just to borrow funds that they need during the pandemic, but of course bitcoin is different, as we in crypto are living in a decentralized ecosystem, the only thing that is corrupt here are the manipulation of the whales but at least we are aware of that and the figure is very transparent to us unlike in our government where they make a law or action that might have long term bad result.

With that said, I still don't think fiat will not survive, it will but maybe in the long run if government can regulate the crypto world, people might have a freedom to choose fiat as only a payment system while bitcoin as a store of value.

[abhiseshakana]

Yes I do have seen how our government have responded on the rising case of this covid-19 pandemic. Our government have extended a hand on borrowing money from the world bank just to be able to sustain the needs of its people since many individuals are directly affected by this pandemic because many establishments are close which lead to people getting jobless and tend to stay at home.

It is indeed that this pandemic is really harmful directly to the fiat currency and not into Bitcoin because we are most likely using fiat to provide direct response on this pandemic to sustain the necessities of ours to be able to survive this crisis. This Pandemic have really gone through the limitations of almost all countries affected which lead them to create a loan or borrow money just to sustain the needs of its people during this crisis we are facing right now.

Debt is always considered the solution for all economic problems, even though its true debt actually adds to the economic burden. Because debt is always accompanied by interest and collateral, so that creditors always and surely benefit, besides that the government protects the bank as if the bank collapses then the economy will experience a disaster. In fact, it is the bank that is the trouble maker.

World Bank & IMF although officially this is an international institution, the international monetary is organized like a private company. Decisions must be made by the majority of shares held. Because America holds the majority of capital in both, America is the main actor who controls the most votes for the funds or bank decisions.

Especially for the corona pandemic, the fact also affects the cryptocurrency market. Because normally individuals in crisis conditions will hold cash in the form of fiat (dollars). Evidently Berkshire Hathway released a majority of its shares at the end of March and held cash, but its purpose was different from other individuals in general, Warren Buffett would likely buy up many shares when the price dropped during an economic crisis. So they remain kings after the crisis.

[Viscore]

With that said, I still don't think fiat will not survive, it will but maybe in the long run if government can regulate the crypto world, people might have a freedom to choose fiat as only a payment system while bitcoin as a store of value.

Fiat is government, because they created it, the only reason why we hate fiat is when we hate our government, that's it.
They are useful to people especially those who are just living a simple life, not thinking of investing but just working to survive, but for people who sees and concern of the future, they will care so much on the status of the government, especially its financial side to determine and predict its future.

Bitcoin as they say a store of value, but its volatile, so there's always a debate on that, not everyone can be convince.

[CarnagexD]

So, we can take advantage of the situation and could get the bitcoin payment systems a lot more awareness. If we create that awareness, if the companies that builds bitcoin cards actually market it like "want to not touch anything? Use our bitcoin cards and have payments without touching anything", that would really work for us.

What if we settle and look forward to those QR scanning so that it is really a less physical touching of things to make transactions. You will only use your device to scan those QR codes and the transactions is done, as easy and fast like that. But it will take a lot of time for other companies to build a platform where they allow the sending of cryptocurrencies using QR codes just like what is happening in the supermarket and other businesses.

The problem is that some supermarket or businesses are still not accepting bitcoin as a payment due to ignorance of cryptocurrency. They are still not that convinced to allow the accepting of bitcoin in their economy so it is useless if we still continue this kind of concept if we do not prioritize adoption first.

[Leviathan.007]

The Covid-19 crisis already effected economy all over the world. But, people unfortunately thinking it's over, considering there is no vaccine yet and the outbreaks situation, it's not going to be over yet and the progress is harming the economy in all nations governments are under pressure because of the crisis and so people. During this sad period of the time Bitcoin is a safe trench for investors because except for the previous dump, Bitcoin market is effected less than others, that's what saves the economy during this time.

[Negotiation]

Bitcoin now seems to be more effective than the Fiat currency in improving the economy. Because fiat is controlled by a fully centralized government the demand for fiat currencies goes down as the economy suffers.

It is absolutely true that the coronavirus has had no effect on Bitcoin, but the worse the situation for Fiat currency the worse it will be But in the wake of the virus the price of Bitcoin is rising at a massive rate The bull run has almost come to the market Bitcoin can help improve the economy.

[Alert31]

Coronavirus is affecting too much our economy but i don't think that it harm the fiat money because fiat money is still useful even covid pandemic keep on spreading. Fiat moneybis issued by the government and although we are in a worst situation fiat money still exist and useful everyday to buy our needs. Bitcoin is helful also at this time because it serve us an alternative source of income this time that many are stay at home and lost their job. Fiat and money are now the important factor to consider during this pandemic,hope that government know that. And hope that the mass adoption of bitcoin and other cryptocurrency will continue to increase.

[fullhdpixel]

Fiat currency has very useful even before however we all know that it can be the producer of viruses like corona whereas until now, based on the beliefs it is also a carrier through the hands. But personal hygiene is better and my point to eliminate as a simple way to prevent this kind of virus, despite, when lockdown has declared fiat money also has a quarantine by itself due to many people are stranded and lose their job.

Exactly but during such times people are looking for options that provide them stability for the time being and not profits in the long run. I do not see an opportunity for bitcoins but overall it is very true that fiat transactions would be reduced in future because people don't want to touch the physical notes and rather adopt the cash-less payment methods which brings bitcoins on the top although there are tax issues and evaders and other illegal activities that can be pursued with the help pf bitcoins so it will be hard for the government to ever take initiative and they would rather adopt a payment system like paypal so that they have more control over their people.

Conclusively I don't think bitcoins are much benefited by either corona virus or any virus that spreads because when anything like this happens there will be a low for almost all the markets including crypto industry.

[tbterryboy]

It is absolutely true that the coronavirus has had no effect on Bitcoin, but the worse the situation for Fiat currency the worse it will be But in the wake of the virus the price of Bitcoin is rising at a massive rate The bull run has almost come to the market Bitcoin can help improve the economy.

It actually did as the price went as low as 4k a few months back and it recovered because others saw it as a golden opportunity to invest some into bitcoins while countries suffering critically with covid-19 had a immense panic and a lot of miners also stopped operating from a news I read online somewhere so yeah there was a panic and bitcoins were affected but not for long period.

According to me there is no reason why if the economy goes down we expect crypto currencies to be adopted because a poor economy means that you don't have enough money and those are times when people look towards fulfilling daily needs rather than making investment into crypto and bitcoins.

China always had a large share in holding of bitcoins so the crash that happened in March was because of China I believe as they were the ones firstly affected by the corona virus.

[perfect999]

I know that it still affects Bitcoin in the sense that fiat is the main monetary system and whenever situations like these hit people might be forced to sell their cryptocurrencies and still convert that money to fiat so that they can be able to buy food to last them till the situation is over. And when they start selling their coins it results to an increase in the price of Bitcoin.

So, I would say that this affects almost everything, though I am not sure if it was the reason why the price of Bitcoin crashed, I have seen so many cases being pointed at as the main reasons that caused the price of Bitcoin to plunge.

Yes, this is a pandemic and I think a pandemic affects everything there is. Every market, assets, you name it, they are all being affected by this pandemic. Cryptocurrency was hit by the coronavirus, if not the level the price is at now wouldn’t be what we would have been at.

So, it affected cryptocurrency, and look where Bitcoin has been at and can hardly get pass the level. At this time, a lot of people are even afraid to buy cryptocurrencies that are volatile and would prefer the stable coins to save their money from dropping. Although I would say it’s best to buy cryptocurrencies now that they are low in price. A future increase is on the way.

[cryptomite]

Have you seen how governments responded to the corona virus?

Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.

In Germany for example, the deposit interest has a negative value, banks need the cash flow, to many people put money away so by increasing the budget deficit the party globe is launch in the banks.

In germany they love cash a lot so they just keep a lot at home, but when you want to take a credit that's nice