Coronavirus is very harmful to fiat currencies, not bitcoin

[atjiat]

What is true is true, such favorable conditions for the growth of the cryptocurrency market have not yet existed. And cryptocurrency users have become more prudent and attentive in relation to their investments, as well as the economies of countries under the pressure of the coronavirus destroys all confidence in the stock market and in national currencies. Therefore, investors come to the cryptocurrency market and especially in Bitcoin.

[chip1994]

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 that is why major financial funds in the US have poured huge capital into Bitcoin and hold it for the long term.  When the government's plans are bad, then Bitcoin is a bailout for their policy mistakes.  To me, Bitcoin deserves to be a common currency in the world in next 10 years.

[MCobian]

I agree that the corona virus is very harmful for fiat, because in order to recover the economy quickly several countries are printing money.
This can make the value of the fiat currency decrease, due to inflation. While the price of Bitcoin is increasing in a pandemic situation,
because many people just realized that Bitcoin is very good as a store of value.

[Sanitough]

I agree that the corona virus is very harmful for fiat, because in order to recover the economy quickly several countries are printing money.

Is that really the solution? I think that is so easy, if every country would print money then covid-19 or the pandemic is not anymore a problem.

You know what, people are panic when USA printed more money and the statement of President Trump about it does not please them.

[Paycoinzzz]

What is true is true, such favorable conditions for the growth of the cryptocurrency market have not yet existed. And cryptocurrency users have become more prudent and attentive in relation to their investments, as well as the economies of countries under the pressure of the coronavirus destroys all confidence in the stock market and in national currencies. Therefore, investors come to the cryptocurrency market and especially in Bitcoin.

I can only confirm that investment funds in the US are involved in holding Bitcoin, other than that new "investors" I am not sure.
Currently only money is poured into Bitcoin, in addition, the Defi projects or the new Dapps projects only have familiar Blockchain investment funds such as Polychain Capital, Pantera Capital, Galaxy Digital, IDG Capital, ... .
Based on the signals, I guess that the Crypto market has not been appreciated, only Bitcoin is the most appreciated asset here, hope you do not think wrong about the market.

[Nhor1011]

You're right! Corona virus is very harmful to fiat currencies and not bitcoin because government only support and care about the circulation of fiat money in the country. Because of Covid economic problem of the country suddenly rise too much on which the government need to have enough funds in order to make sure that it will recover. Then if government will buy vaccine for covid virus ,they also need and use fiat money to buy and not bitcoin. Also this Corona virus has no effect on Bitcoin because it is digital, untouchable, can't transfer physically and covid has no contact in bitcoin unlike in fiat money that can carry thousands of virus and bacteria and able to transfer it to others.

[livingfree]

Money is flowing again and just as you see, there were lockdowns yet bitcoin went into a surge. So, in that case if money goes into flow again in the economy and people don't have to think of stocking their money into cash.

It will be into investments and bitcoin will be their option. Bitcoin is attractive as it's pumping and most investors won't have any doubt investing into it after they've seen it gone through in a bull run for 2017 and this year.

And 2021 is also speculated to be in good hands.

This pandemic fortunately is a blessing in disguise to crypto. With this crisis, people appreciate crypto or bitcoin as a good alternative payment method as compared to cash. However, the adoption from noncrypto users is not to be expected to surge fast, but I really think, during this pandemic period, there are a lot of noncrypto users that are converted to be crypto enthusiasts. With a lot of time to study and search during lockdown, for sure, some of them encounter bitcoin or crypto, and got their interest to look into it. And to add, the announcement of paypal regarding the integration of crypto in their system, gave a lot of positive vibes to crypto community.

For me it doesn't matter if there were people that are converted from doubters to crypto believers.

What's important this time is that we're looking at the good position of everyone in the market and as well as the market's position itself. It's something that we're not expecting during this pandemic.

We thought that this year won't be ending well because of the pandemic.

[SirLancelot]

I agree that the corona virus is very harmful for fiat, because in order to recover the economy quickly several countries are printing money.
This can make the value of the fiat currency decrease, due to inflation. While the price of Bitcoin is increasing in a pandemic situation,
because many people just realized that Bitcoin is very good as a store of value.

Not just because of inflation but because even the governments are now proposing and encouraging online transactions which directly helps the crypto market because when you do online payments somewhere you will definitely see the option for bitcoins payment and you get to know about it directly or indirectly.

There are lots of people who are now into crypto trading and because of the bull run everyone is loving what they are doing because almost no major coin is going down while bitcoin keeps going up so everyone is making profits from their trading, even newbies.

Pandemic had deadly impact on our economy and a lot of lives were taken away, I feel sorry for them but we cannot deny that the pandemic made the world more digital and pushed us 10 years ahead in terms of digitalization like online education, transaction and shopping.

[Smartprofit]

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 you are right.  The functioning of the bitcoin network has nothing to do with the development of the Covid-19 pandemic. 

Isolation of national segments of the Internet and power supply problems could wreak havoc on Bitcoin, but the pandemic is not. 

At the same time, the pandemic affected national currencies (US dollar, pound sterling, yuan, ruble, etc.).  The money supply of fiat currencies has increased significantly.

The coronavirus pandemic has shown the weakness of fiat currencies and the strength of Bitcoin.  At the same time, the price of Bitcoin is expressed in fiat currencies.  Therefore, the price of Bitcoin is rising.

[Rexler]

I agree that the corona virus is very harmful for fiat.
This can make the value of the fiat currency decrease, due to inflation. While the price of Bitcoin is increasing in a pandemic situation,
because many people just realized that Bitcoin is very good as a store of value.

When the pandemic started, it was nothing but disaster for the financial we saw stocks go down real bad, everything dipped including bitcoin, fiat devalued badly and the government didn't stop printing more of it, like in my country we normally depend on revenue we get from the sales of our crude oil, so when the price of crude oil dipped it affected us badly, the price of everything in our country went up, stuffs you buy for $2 back then, now cost $3 to 4, but I'm glad bitcoin bounced back, and now more adoption has taken place since PayPal started accepting it.

[South Park]

I agree that the corona virus is very harmful for fiat, because in order to recover the economy quickly several countries are printing money.
This can make the value of the fiat currency decrease, due to inflation. While the price of Bitcoin is increasing in a pandemic situation,
because many people just realized that Bitcoin is very good as a store of value.

True, but no one really wins with this, even if we can maintain our wealth or even increase it thanks to bitcoin during these difficult times at the same time there is going to be a lot of suffering, governments are reaching a breaking point, they do not know how to face any crisis except by printing more money, throwing it at the problem and hope that it fixes itself and this is not going to work when the problem itself is the amount of money they are printing, things are slowly getting out of control and if something else were to go wrong when the economy is still in such a bad shape then things could get ugly really fast.

[AicecreaME]

I agree that the corona virus is very harmful for fiat, because in order to recover the economy quickly several countries are printing money.
This can make the value of the fiat currency decrease, due to inflation. While the price of Bitcoin is increasing in a pandemic situation,
because many people just realized that Bitcoin is very good as a store of value.

Also in other way around, using fiat will just make corona virus to spread easily because in using fiat, we need to use it physically unlike Bitcoin that it could only use virtually, therefore it's more safer than fiat. The Government used that reason to use Bitcoin as a new way of payment also to help their economy to rise faster than using fiat. We all know that the price of Bitcoin fluctuates much more than fiat therefore if they bought a lot of Bitcoins since March 2020, I'm sure they made a lot of profits this month.

And those profits will keep on circulating on their economy that will be their help in order to regain their country's needs, without any funds because of taxes being paid by the citizens, a country will never be develop.

[Istiaque]

The development of Bitcoin has increased due to Corona although the value of the Fiat currency fell sharply did not have a detrimental effect on Bitcoin. Once the economy recovers the Fiat currency will return to its former place. Fiat currency is more in circulation than Bitcoin. Nothing can control the Bitcoin market stock markets closed as fiat lost ground. Lack of money they are not able to spend anything tut the rapid development of Bitcoin will help improve Fiat currency.

[poodle63]

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.

Coronavirus actually exposes what's lacking in the government and the government needs to fix it ASAP which means spending a lot of money as well as increasing the hospital facilities. It's really understandable that most of countries gonna struggle a lot like countries with relatively low GDP income.

There's absolutely nothing we can do though since that just how things works. Also due to that inflation appears thus people money converting to BTC.

[Fredomago]

Coronavirus actually exposes what's lacking in the government and the government needs to fix it ASAP which means spending a lot of money as well as increasing the hospital facilities. It's really understandable that most of countries gonna struggle a lot like countries with relatively low GDP income.

There's absolutely nothing we can do though since that just how things works. Also due to that inflation appears thus people money converting to BTC.

The good side that happened as it is. Bitcoin begins recognitions coming from those institutional investors, after this pandemic lots of people started to switch not just their investment but also bitcoin ws used for transacting to buy goods and foods online. It helps a lots in terms of usages as fear from people put them away from transacting physically.

The use of fiat has  minimized, more deal we're done online and more businesses who do survive use online process, better to use this system than taking the risk of being infected.

[Botnake]

You're correct Corona infection isn't hurtful for bitcoin rather it encourages the bitcoin to develop more.
At the point when the infection happens numerous business goes down and people groups begin remaining at home.
All the stocks market shut down and individuals begin thinking to put resources into bitcoin and digital currency, which changed the bitcoin market.
Presently bitcoin cost is higher in contrast with the most recent year cost.

The pandemic gives bitcoin an opportunity to be introduce to the world, the money that is coming now are institutional investors according to some news, so this is a good thing for bitcoin because it will strengthen its future. We will not miss this opportunity now, and I think even if the vaccine will be release and will be distributed worldwide, bitcoin will remain positive, it might dump a bit but its certainly due to corrections only.

[cryptomite]

crazy that this virus even drive cryptocurrencies to be a great investment

[pinggoki]

You're correct Corona infection isn't hurtful for bitcoin rather it encourages the bitcoin to develop more.
At the point when the infection happens numerous business goes down and people groups begin remaining at home.
All the stocks market shut down and individuals begin thinking to put resources into bitcoin and digital currency, which changed the bitcoin market.
Presently bitcoin cost is higher in contrast with the most recent year cost.

Coronavirus was really harmful to the fiat currency because we can see that due to this virus many people are intent to use digital money like buying things online and paying it online to avoid physical contact or physical money when payment is there. In my country, they are already using paymaya and gcash as a mode of payment because they are avoiding the spreading of viruses that might get in the physical cash or fiat. Not just only numerous businesses have been going down but almost all of the businesses become bankrupt due to the lockdown that has been happened to us, we can see that the stock market was in a red situation and also going down due to this coronavirus.

[geegaw]

You're correct Corona infection isn't hurtful for bitcoin rather it encourages the bitcoin to develop more.
At the point when the infection happens numerous business goes down and people groups begin remaining at home.
All the stocks market shut down and individuals begin thinking to put resources into bitcoin and digital currency, which changed the bitcoin market.
Presently bitcoin cost is higher in contrast with the most recent year cost.

Coronavirus was really harmful to the fiat currency because we can see that due to this virus many people are intent to use digital money like buying things online and paying it online to avoid physical contact or physical money when payment is there. In my country, they are already using paymaya and gcash as a mode of payment because they are avoiding the spreading of viruses that might get in the physical cash or fiat. Not just only numerous businesses have been going down but almost all of the businesses become bankrupt due to the lockdown that has been happened to us, we can see that the stock market was in a red situation and also going down due to this coronavirus.

Covid-19 is really bad for Fiat but the reason is not what you say, people are still using fiat normally, even if they want to convert to online transactions, banks in the countries still provide a full range of services to them, cryptocurrencies or bitcoin have yet to enter these fields as banks have always been vigilant. Fiat was affected by economic losses, companies lacking too much capital and people lacking too many jobs, bitcoin has benefited when people are turning to online investments but things will probably settle back soon as the vaccine is very close

[qwertyup23]

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 do think that the Coronavirus pandemic affected job employment and opportunities as a whole, which indirectly affected the fiat as a whole.

With this in mind, the economic has been stunted and any opportunities for job employment decreased. This resulted to a number of workers being unable to meet their monthly obligations given that most businesses have been closing their operations. Although the creation of the vaccine gives hope, this will not restore the damage it created initially, maybe not in the near future.