[2020-04-17] Crypto’20 VS COVID-19

[S3cco]

Crypto’20 VS COVID-19
https://bitcoingarden.org/crypto20-vs-covid-19/

Coronavirus has been the great eye-opener of 2020. Since December 31st, 2019, it has changed the way we live and the way we pay. As the world is moving online, people have started calling fiat ineffective and even dangerous. In the current situation, with more than 1,000,000 infection cases, a banknote could be just as much of a virus transmitter as a door-handle or a handshake. While rearranging the global economy, COVID-19 has in the process exposed additional flaws in the current monetary system, albeit in a disturbing way. Nevertheless, blockchain has a lot to offer the post-apocalyptic economy. In addition to their transmission-resistant capabilities, cryptocurrency projects are showing that they can support and educate people in need at this very moment. As the impact of the disease on the world is growing, the cryptocurrency community is reacting accordingly....

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[stomachgrowls]

Being optimistic isnt bad but how people would consider on switching or considering crypto for this time if credit/debit or e-currency transactions had long existed? 

[sunsilk]

It will take time for the non-crypto people to understand the true purpose and meaning of bitcoin. But the good news, they have a bunch of time to spend on understanding, studying and knowing those things about bitcoin and cryptos.

Only few places in the world has lifted the lockdown and WHO has been advising every country that it's too soon to lift those bans. With those times that these people have, they can use it productively for researching.

[TravelMug]

Being optimistic isnt bad but how people would consider on switching or considering crypto for this time if credit/debit or e-currency transactions had long existed? 

Not that easy, of-course we wanted crypto to be the next big thing right now, but I have a feeling that we will not get to that level just because of the pandemic. There is a learning curve, i.e. buying crypto, having a wallet and protecting it. As oppose to the old traditional way of having your credit/debit card ready in your pocket.

Yes, the world economy has reset, but I think people won't change their habit of using their cards to purchase things around.

[Harlot]

As the world is moving online, people have started calling fiat ineffective and even dangerous.

I never have seen people say this even online, so I really wonder how this article have come up to this claim? I also took some time to see in Google if there are people and governments actually saying their own fiat currency is "dangerous" or "ineffective", the only news I'm seeing about them are related to WHO's misunderstood statement about bank notes are the ones spreading the virus which in the truth is the physical contact is the one that can spread it not the fiat currency itself. I don't know this website pretty well but right now with claims like this not showing any proof people are actually saying it just shows that the website is only the ones assuming it as facts.

[Darker45]

If there is something that would strengthen the case of Bitcoin in the face of COVID-19, it is not going to be that hard cash is a virus transmitter as a door-handle; it is the indiscriminate printing of money out of thin air. After all, with or without COVID-19, the world has already been gradually shifting away from the use of hard cash.  

[stompix]

As the world is moving online, people have started calling fiat ineffective and even dangerous. In the current situation, with more than 1,000,000 infection cases, a banknote could be just as much of a virus transmitter as a door-handle or a handshake.

I've not used banknotes for the past month but I still used fiat.
Credit and debit cards, Mobile payment solutions like Google pay are all based on fiat money, what people might be afraid are banknotes aka cash!
In this context a serious difference!!!!

Nevertheless, blockchain has a lot to offer the post-apocalyptic economy.

Common!
Tomorrow you're going to take your war rig to Gas town and trade aqua cola for gasoline?

I never have seen people say this even online, so I really wonder how this article have come up to this claim? I also took some time to see in Google if there are people and governments actually saying their own fiat currency is "dangerous" or "ineffective",

Go to ZH, that is the norm around there.

[stomachgrowls]

Being optimistic isnt bad but how people would consider on switching or considering crypto for this time if credit/debit or e-currency transactions had long existed? 

Not that easy, of-course we wanted crypto to be the next big thing right now, but I have a feeling that we will not get to that level just because of the pandemic. There is a learning curve, i.e. buying crypto, having a wallet and protecting it. As oppose to the old traditional way of having your credit/debit card ready in your pocket.

Yes, the world economy has reset, but I think people won't change their habit of using their cards to purchase things around.

And this is the reality thats why i dont really hope too much for crypto to progress that much due that fact and as long the government are on the top of the chain theres no way that
fiat system can be beat up.

If there is something that would strengthen the case of Bitcoin in the face of COVID-19, it is not going to be that hard cash is a virus transmitter as a door-handle; it is the indiscriminate printing of money out of thin air. After all, with or without COVID-19, the world has already been gradually shifting away from the use of hard cash.  

You got a point but i dont really believe that everybody would really stay away on the use of hard cash even though we do have e-fiat as of this moment and other alternatives.

[Darker45]

If there is something that would strengthen the case of Bitcoin in the face of COVID-19, it is not going to be that hard cash is a virus transmitter as a door-handle; it is the indiscriminate printing of money out of thin air. After all, with or without COVID-19, the world has already been gradually shifting away from the use of hard cash.  

You got a point but i dont really believe that everybody would really stay away on the use of hard cash even though we do have e-fiat as of this moment and other alternatives.

Not this time, of course. The process would be gradual, but it will eventually happen. For now, especially in developing countries, a lot of people don't have much choices. They are left with nothing but to stick to the use of hard cash. I think most businesses in these areas would still consider the use of hard cash as the most convenient option.

[adeandro]

Crypto will win in this confrontation, covid will eventually be forgotten, and crypto will exist for a long time

[Naida_BR]

COVID-19 has changed a lot of ways that we were living in the past.
But, at least in my country it doesn't promoted or introduced cryptocurrencies to people. People started using more contactless payments but they didn't try to make purchases online or finding alternatives to store the value of their money -e.g to buy more bitcoins.

[yohananaomi]

COVID-19 has changed a lot of ways that we were living in the past.
But, at least in my country it doesn't promoted or introduced cryptocurrencies to people. People started using more contactless payments but they didn't try to make purchases online or finding alternatives to store the value of their money -e.g to buy more bitcoins.

With the onset of a pandemic like this, I agree that people are starting to reduce payments or whatever transactions are made with paper money. now it is safer to use online transactions that are already widely available in market places. but with this pandemic there are also economic difficulties that haunt developing countries or countries that do not have sufficient foreign exchange reserves. so the transactions are also not many, if only for the need to purchase pandemic equipment which is a priority. because now people are having financial difficulties, many workers are unemployed and employers cannot run their business wheels.