Coronavirus is very harmful to fiat currencies, not bitcoin

[goldade]

It is true there was/is an economic melt down in so many part of the world due to the Corona virus. This is as a result of the lock down imposed by several countries in order to contain the spread of the virus as it spreads fast through physical contact. Many businesses and services had to close down as a result of the lock down.
This, without doubt, affected the fiat currencies that we have just because they are physical cash. The virus can be transmitted through these fiat currencies and in turn needed to be avoided.
This is another advantage of bitcoin over fiat currency in that it is a digital currency and can be used without having physical contacts

[Sapphire915]

When it pertains to covid-19, fiat or physical currency is really harmful to think that it could easily contains the virus from a hand to hand  contact. Unlike bitcoin, it is more reliable and safe payment method this time. However, the problem here is that we cannot use it in our daily spending especially the basic necessities. And as for the Governments in certain countries has their own systematic guidelines in dealing out this crisis. Some was really drown into debts and any kinds of loans because of the budget shortage and economic fall. You are right, we are still lucky despite this pandemic because bitcoin industry remained strong and unshaken.

[iamsheikhadil]

I don't think that's the case. Because even in Corona, there's all offices locked up. There are many places where due to lockdown, even power supplies were stopped or temporarily saw huge cuts. Hence it's not in favor of Bitcoin as well. When the whole world shuts down, then everything that exists will be negatively impacted. Comparable to fiat, crypto has suffered less, but doesn't mean it didn't at all!

[romero121]

Fiat currency flow got affected due to the pandemic. This is a temporary issue, and to increase the circulation of fiat currencies governments have made several plans. Fiat market is much associated with the economic conditions of a country. In specific when the production is affected automatically the impact can be  experienced over money flow.

In my locality during the pandemic most of people out of cash started to cultivate their own food for survival. This is the situation prevailing around the globe, coronavirus is not harmful to anything specific. It has made good changes in human beings as well as made economic crash on the other side.

[raidarksword]

Yes, many countries responded on the scare of corona virus wherein this pandemic brought drastic downfall to our world economy and until now we are still fighting to end this pandemic so that we can go back to our normal lives and to live without fear interacting with other people. Bitcoin on the other side, it did break down due to people cashing out to prepare for the lockdown procedures implemented by the government respectively.

[finaleshot2016]

Well, it still depends on the government, if they handled the situation quite good then they don't need to have debts on our countries that will affect the fiat currencies.

All of the actions that will make our economy into downfall is because of our leaders' decision to our country.

The currency is affected at some point because of coronavirus but imagine if they are competent and such conditions, maybe we aren't suffering on this pandemic right now.

[Dorodha]

Coronavirus is not bitcoin it is an epidemic that has spread to the entire world economy but Fiat is very bad for the currency because the epidemic has brought the country's economy down a lot. In other monetary systems such as the government and the central bank the fiat currency depends on the country's economy not the bitcoin, so the fiat currency suffers from the effects of the epidemic. it will not last long most countries are planning to improve the economy and have opened up everything.

[DeadCoin]

I don't think that's the case. Because even in Corona, there's all offices locked up. There are many places where due to lockdown, even power supplies were stopped or temporarily saw huge cuts. Hence it's not in favor of Bitcoin as well. When the whole world shuts down, then everything that exists will be negatively impacted. Comparable to fiat, crypto has suffered less, but doesn't mean it didn't at all!

In today's world, you should not despair because there is no good in the good things that will happen in the lives of all of us no matter what every step is uncertain but I believe that it will be formed.in fact, fiat currency is very risky to anyone at this time that the coronavirus behind this scenario is still there and because of this situation, Bitcoin is fully alarming for how many months.

[proTECH77]

Many fiat currencies lose their value during the pandemic that
make so many people wondering about bitcoin that still
maintain it value and stable in supply during the lockdown.
Bitcoin is decentralized currency which is well pumping the
way investors want it to pump compared to fiat currencies
which is centralized in the country. Many countries found it
difficult to use fiat money to improve their economy and other business things.
Bitcoin is well okay in the market which many people are still doing well with their profit.

[kolbalish]

.

This coronavirus is starting to collapse the economy of a country that has been affected by this virus because a lot of productivity has been stopped and there are a lot of people are starting to hoarding since there are lockdowns in their places. Fiat currency is a physical object, so it is possible that the virus could be pass on to another person, that is why there are countries who avoids accepting physical money for their own sake because you can't say if that money has been touch or not by an infected person.

Of course, the coronavirus is harmful to the Fiat currency. Because it moves toward physical appliance, not bitcoin. Bitcoin is an online currency and all its endeavor is performed online. So people have no probability to be affected. But in the Fiat currency people work from the self-present. So it is harmful to everyone.

[Swopon]

Coronavirus is spreading rapidly and the vaccine is not discovered yet. None can say any solution about it to reduce its affection.

For the coronavirus, the country's economy isn't stable and it's getting vulnerable. Because of being closed all the official things remained closed. That's why it is harmful to the fiat currencies. Bitcoin isn't affected because we saw the Bitcoin price and demand at that time.

[jostorres]

For the coronavirus, the country's economy isn't stable and it's getting vulnerable. Because of being closed all the official things remained closed. That's why it is harmful to the fiat currencies. Bitcoin isn't affected because we saw the Bitcoin price and demand at that time.

Also the number of online transactions have been increased by a big margin and some new projects are being worked on the blockchain technology which means the pandemic was indeed horrific for the regular economy but the bitcoin market or the cryptocurrencies market in general actually benefited from the current situation.

Coronavirus is spreading rapidly and the vaccine is not discovered yet. None can say any solution about it to reduce its affection.

There were news that the vaccine is coming from Russia but I don't know where that news evaporated and what happened with that news. I believe the only way to survive right now is by taking precautions and apart from giving our best chance to avoid corona virus we cannot do much so if we do our best and still get infected, we have to accept our fate.

[chikading2016]

The corona virus is really affecting the economy, the budget of the country is become shortage right now and some people are suffering a financial problem, and i think it takes a very long time to recover. The fiat is the most affected specially in some other country they never use fiat in buying or making any payment to avoid spreading the virus because virus can be transfer by holding the money or coin, while in bitcoin the virus has no effect at all.

[AjithBtc]

Even before the coronavirus there are few countries that faced hard inflation. The coronavirus made those go even worse. With other countries the lockdown/complete shutdown lowered the money flow within the country. This resulted in inflation.

To overcome the lack of money flow governments have announced different schemes. Most of the time the low level (beneficiaries don't make use of it). At the higher level itself it reaches their pockets. This isn't harm to fiat, but the politicians have made it an opportunity.

[JuSayCo]

Yes, its true. Physical money/fiat are very harmful this time, because it accumulate the viruses and stay for a long time in the money. And through hand to hand contact, the rapid spread and transmission of virus was made so easy. For me, this is the best time for total bitcoin adoption because it could protect and help us to manage our funds and pay bills and purchase online with less worry.

[Kong Hey Pakboy]

Coronavirus or COVID-19 is the reason why most countries are experiencing a huge downfall in their economy because production has stopped, that every worker temporarily lost their jobs due to community quarantine lockdowns. It is also why fiat currencies, banking system, and stocks are suffering during the pandemic. Unlike bitcoin, it saves our financial system from falling due to its decentralization.

[ampu]

The Coronavirus halts all economic activity, causing cash flow to stop circulating in the market. That reduces the liquidity of fiat money. Cash is also limited in use because they run the risk of spreading viruses by using them. Because of the pandemic, society will encourage not to use cash.
Bitcoin and gold are new places when money flows into it after being pulled out of other markets.

[J.Amador]

Yes it is very harmful in currencies I heard in news U.S.A their dollar price dropped cause of pandemic i heard that the U.S.A economy is declining sharply maybe that's the reason as their currencies is also declining

[oHnK]

Bitcoin is a non-exist resource. It is improbable to pass the infection from one person to another.

Anyway, it might profoundly impact fiat since people can contact their monetary forms and embrace conceivable that the infection can go through to other people.
So it's better to utilize the digital forms of money and make an online installment by sitting home.
Covid can impact fiat; however, it has no connection with crypto, not even the Cost.

Why the pandemic worsens the value of current fiat money because it is used legally in the country as a transaction tool.  All economic policies taken will have a direct impact on fiat money.  How not, because what determines inflation in a country is fiat money, not bitcoin.  Monetary policy is devoted to regulating the supply of fiat money, not other assets.  Because if it is excessive, there will be inflation, if it is less, there will also be a decrease in people's purchasing power.  Bitcoin is not that common for everyone even there are still many countries that have not legalized it for reasons of economic problems.

[proTECH77]

This show bitcoin still remain the king of all currencies during this pandemic that really make some currency devalue in the country. Many government are now rushing to make sure more money is printed to enable them fix their economy back to the country.
Since covid-19 take place bitcoin never devalue, it keep maintaining it value in the market that is making other fiat money investors wondering how powerful this decentralized currency, it is in the market through out the pandemic,that reduce other cryptocurrencies but it keep rising in the market.