Coronavirus is very harmful to fiat currencies, not bitcoin

[AicecreaME]

Covid-19 have no doubt negatively impacted the fiat currency from the very beginning of this pandemic. It was very evident from based on the movement of the stock market, which as you know crashed. Many investors had withdrawn and sold their holdings because of the fear that fiat would really go down quickly.

However, the fiat currency is now slowly recovering from the pandemic’s effect. It’s slowly building its value again as it increase little by little in percentage. Meanwhile, the effect of pandemic on bitcoin is not much noticeable, but it has its minimal impact to it as well. We can’t really say that our community is “pandemic proof” because the crypto users and traders are affected too, hence can make a slight impact too when it comes to buying and selling.

[mezzaluna]

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.

That is true because if the Corona Virus has a significant effect on Bitcoin, it would be noticeable on its value but nothing has change even the virus has spread. Bitcoin's value is only affected on the supply and demand on circulation and also the number of users taking interest on it might also affect its value. Fiat currencies would be affected because its used mostly in daily lives and it would also shut down some businesses that only transacts using fiat.

[GeorgeJohn]

This corona virus is starting to collapse the economy of a country that has been affected of this virus because a lot of productivity has been stop and there are a lot of people are stating to hoarding since there are lock downs 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 really say if that money has been touch or not by an infected person.

Its really obvious that corona virus is causing harm to the economy of a country because of it's lockdown which happened to prevent people not to come in contact with one another, it really affects businesses and resources of government revenue, see corona virus caused harm to human life especially entrepreneurs it flourished goods. Emphasising in it's contamination via Fiat currency, I don't think its possible because many people would have been contacted or affected through the virus, so such country who are agitating via passing the virus through money should look for the remedy to eliminate the virus because fiat currency can't transmit such disease.

[CASTIEL05]

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.

The debt of every country is increasing because of pandemic. In my country, we have to loan in international bank because the government need to sustain the budget regarding to the calamity and pandemic matters. By that, experts said that my country will experience an economic depression because of the debt. Coronavirus really harm not only the health of every people but it makes a country poor and give a high debt.

[noorman0]

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.

That is true because if the Corona Virus has a significant effect on Bitcoin, it would be noticeable on its value but nothing has change even the virus has spread. Bitcoin's value is only affected on the supply and demand on circulation and also the number of users taking interest on it might also affect its value. Fiat currencies would be affected because its used mostly in daily lives and it would also shut down some businesses that only transacts using fiat.

Have a look at the Bitcoin chart from March to April.


The price of Bitcoin experienced a decline when the first global lockdown started around the world.
When a recession occurs, people will not think about saving wealth, but how the wealth is spent to survive. This phenomenon has proven to have a major effect on the economy including bitcoin, even though it will not kill bitcoin itself.

[erikoy]

Yes, fiat now had been not doing well and its purchasing power had depleted because people are more needing food rather than money. If the pandemic will going to continue then high chance that it can no longer be use and it will have no value no more. People will going to plant for their living if they wanted to get food to eat. Hopefully this will not going to happen because many people will get affected by it especially us the poor.

[laredo7mm]

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.

I also think its pandemic will increase govt debt. Many people said crypto will not survive when COVID-19 strikes us. But we all know what happens later. The Crypto market gain momentum through DeFi hype and I think govt now will think about how they can use crypto in their own way. Many companies already invested in bitcoin we all know that. More are doing the same now.

[oHnK]

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.

I also think its pandemic will increase govt debt. Many people said crypto will not survive when COVID-19 strikes us. But we all know what happens later. The Crypto market gain momentum through DeFi hype and I think govt now will think about how they can use crypto in their own way. Many companies already invested in bitcoin we all know that. More are doing the same now.

It is very clear that the pandemic has hit the economy of every country.  So this economic rescue was carried out by providing large subsidies to the community.  How can the government provide a lot of subsidies if the state revenue decreases, many companies suffer losses and even close, is it possible only from taxes.  Surely what the government is doing by increasing debt or printing money.  All of this had a clear impact on fiat money.  On the other hand, everyone has started to worry about their assets.  Amid economic uncertainty, people are defending themselves by saving their assets to Bitcoin.  It is not unusual for Bitcoin to appreciate during Covid.

[BuNga_cute]

I agree if there is an opinion that the corona virus does have a bad effect on fiat currency. Because the government will continue
to print money, to recover the economy quickly. But the effect will make the fiat currency decrease in value, no wonder the stock
market finally crashed. But surprisingly the corona virus does not harm Bitcoin, even the Bitcoin price movement graph is getting up,
this proves that many people prefer to store their wealth in Bitcoin. Because right now not only individuals buy Bitcoin, but more and
more companies are deciding to buy Bitcoin. Because many people are in a pandemic situation like now think Bitcoin can be a store of
value.

[Sergio_CA]

It depends on the point of view, this is because in the short term cryptocurrencies can have substantial volatility, but when we compare it in the long term we realize that there are many cryptocurrencies that have had a considerable price increase, so I think that volatility can be a good time in increase our position, especially Bitcoin, Ethereum, among others.

[Kavelj22]

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.

That is true because if the Corona Virus has a significant effect on Bitcoin, it would be noticeable on its value but nothing has change even the virus has spread. Bitcoin's value is only affected on the supply and demand on circulation and also the number of users taking interest on it might also affect its value. Fiat currencies would be affected because its used mostly in daily lives and it would also shut down some businesses that only transacts using fiat.

Have a look at the Bitcoin chart from March to April.


The price of Bitcoin experienced a decline when the first global lockdown started around the world.
When a recession occurs, people will not think about saving wealth, but how the wealth is spent to survive. This phenomenon has proven to have a major effect on the economy including bitcoin, even though it will not kill bitcoin itself.

Exactly!

Like any other product used a store of value for humans. When those humans feel unsecure, they will spend every option to stay alive and this is how price dropped. And this has nothing to the nature of bitcoin itself.

We are in the second wave with covid, which is more harmful, but that people start adapting with a pandemic reality, the price chart is back to normal.

[AndySt]

Yes, fiat now had been not doing well and its purchasing power had depleted because people are more needing food rather than money. If the pandemic will going to continue then high chance that it can no longer be use and it will have no value no more. People will going to plant for their living if they wanted to get food to eat. Hopefully this will not going to happen because many people will get affected by it especially us the poor.

Let us hope that the pandemic will not be prolonged to such an extent that the absolute majority of the population will be forced to engage in subsistence farming and natural exchange. Almost all the existing cases of hyperinflation and total depreciation of money occurred against the background of civil conflicts and the destruction of state structures, but now there is no such thing, and we hope that the state authorities will keep the situation under control and prevent long-term chaos and unrest.

[jademaxxiss012]

Yes, fiat currency is directly affected by the corona virus but I do not think it will.not affect bitcoin. As of the moment money beimlng stored.in bitcoin are safe but if this continue and money will be no more value I doubt that bitcoin will still have value too. The bitcoin is exchange through fiat currency that enable us to buy with and bitcoin still not adapted and use to buy our daily needs. Bitcoin will be going to affected as well fiat currency collapse.

[KnightElite]

Yes, fiat now had been not doing well and its purchasing power had depleted because people are more needing food rather than money. If the pandemic will going to continue then high chance that it can no longer be use and it will have no value no more. People will going to plant for their living if they wanted to get food to eat. Hopefully this will not going to happen because many people will get affected by it especially us the poor.

Let us hope that the pandemic will not be prolonged to such an extent that the absolute majority of the population will be forced to engage in subsistence farming and natural exchange. Almost all the existing cases of hyperinflation and total depreciation of money occurred against the background of civil conflicts and the destruction of state structures, but now there is no such thing, and we hope that the state authorities will keep the situation under control and prevent long-term chaos and unrest.

Actually, there is already a control in different economies because we are already in the last quarter of the year where people got used to the "new normal". At the 1st quarter of the year 2020, a lot of financial market is keep crashing and cryptocurrency market is part of it because a lot of people want to liquidate their position and they want to just stay with cash but after many months, the economy bounces back wherein we are now on the way of fully recovery. The virus actually pushes the people and a lot of merchants to adopt digital payment system after the WHO statements about the possible infection of covi-19 through using fiat money.

[darewaller]

We always knew that bitcoin was something that would be prevention towards high inflation and bad economy management, that is why it was created to begin with. Satoshi didn't created bitcoin because he just wanted to have fun, he created it because he knew (and many before him that failed) governments and companies are horrible at managing economies and currencies.

But when you have a currency that is managed by everyone equally at the same time with absolutely no ownership by anyone and can't change or print or do anything because it is decentralized, you will have a much better currency. Some people still do not understand the idea of bitcoin perfectly, there are still friends who keep asking how it works, but when the world understands its power fully, we are going to see it become huge.

[vlast01]

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.

Fiat demand is decreasing because people choose to stay at their home holding their gadget and doing a lot of staff thru online, due to these most of the transaction are done online and digital currencies are at most use. These suddenly changes bought a drawbacks in the economy of every each country and are now undergo recession.
So in order for an economy to survive the government will finds its way to got to used of digital currencies that will soon affect the crypto currencies in a positive way.

[marcous]

Yes, fiat now had been not doing well and its purchasing power had depleted because people are more needing food rather than money. If the pandemic will going to continue then high chance that it can no longer be use and it will have no value no more. People will going to plant for their living if they wanted to get food to eat. Hopefully this will not going to happen because many people will get affected by it especially us the poor.

Let us hope that the pandemic will not be prolonged to such an extent that the absolute majority of the population will be forced to engage in subsistence farming and natural exchange. Almost all the existing cases of hyperinflation and total depreciation of money occurred against the background of civil conflicts and the destruction of state structures, but now there is no such thing, and we hope that the state authorities will keep the situation under control and prevent long-term chaos and unrest.

In addition to the increasing number of violations in the world economy, crime is also increasing everywhere because of this pandemic.  The government must immediately follow up in handling covid 19.The whole world wants this Covid to immediately disappear so that life can be normal as usual.

[nomenclatur]

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.

fiat currency is always problematic and very risky for transmission if it occurs, it will be faster to infect the people who hold the fiat money and it will be worse making each transmission very fast if it is held by people who have exposed to the virus the right solution at the right time This pandemic is a digital currency such as bitcoin to facilitate actual transactions, but some countries have not given enough room for bitcoin to be more developed for payment.

[shield132]

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.

fiat currency is always problematic and very risky for transmission if it occurs, it will be faster to infect the people who hold the fiat money and it will be worse making each transmission very fast if it is held by people who have exposed to the virus the right solution at the right time This pandemic is a digital currency such as bitcoin to facilitate actual transactions, but some countries have not given enough room for bitcoin to be more developed for payment.

Your argument to support bitcoin is very poor in this case. It's an era of digital technologies but have you heard anything about cards? VISA/Master cards? You can just take your card near to pos terminal, in reality there isn't any physical contact between you and any 3rd parties, it's just PayWave transaction. It's the safest method of payment, great alternative of cash. So, bitcoin isn't something that can escape us from this virus. It's great on it's own and it's even great that price went up instead of fall like it happened to every fiat currency.

[proTECH77]

Yes, bitcoin is Still rising in the market that is making their investors name it, as the best currency among other currencies in the world just because they way it pump, through out the pandemic where other cryptocurrencies where reducing in the market that was causing some investors loses in their Investment.
Many government are now responding to what corona virus has caused to the life of humanity, in the country and to find solutions to it by requesting for high budget to end the hardship in the country. The central bank will do everything possible to listen to government demand for more fiat money so that the government can  do what will bring the economy and other sectors back to normal in the country.