Bitcoin and COVID

[ethereumhunter]

I believe bitcoin adoption still running, and it has good progress, especially we are still at homes, so that makes people have their free time to browse on the internet. Maybe some of them are searching for the information about bitcoin so that can give them enlighten to invest in bitcoin, and that can increase the number of people who use bitcoin and altcoin. I am sure that bitcoin user will increase day by day, and we will see most people in all country will know and use bitcoin too.

[fabiorem]

Fees and slow network are also a big problem for bitcoin. I run a full node and it takes around five minutes just to start the software.
For this reason, I have been buying ethereum and monero recently. Their transactions are much faster. It takes one second for transactions with these currencies, whereas with bitcoin it takes up to one hour for the first confirmation, even with the highest fee.

[qory]

Bitcoin and covid always have different way how to make the connected but now look the same problem when covid 19 make trash of economic world crisis get impact with bitcoin, many investors have sold their assets because corona impact and try left for investing with bitcoin and altcoin right now.

[mnporter2001]

I just find this to be ridiculous. When the economy has a bunch of people fleeing the market, who will push the price of bitcoin up? People are constantly deluded by the power of bitcoin about how prices will always rise no matter what event. But when Covid 19 broke out, the price of bitcoin dropped more than 70% in just 2 days. That example shows that no one is stupid to buy bitcoins when the economy is badly hurt. Be realistic, that's the way you survive in this crypto market.

[Latviand]

I see the point that bitcoin can be a good way or alternative currency amidst the pandemic, also the point that digital transactions may help to prevent the virus from spreading. But I don't think that everyone is still capable of adapting these changes. From what I can see, there's a lot of problems we can face once the majority move from physical to digital transactions such as cryptocurrency.

Yes, not all people can access and have an access to the internet that's why in some point, this will not become effective enough. Most especially, there are people who are ignorant about technology so that they can't relate on how fast our technology is advancing. That's not only the thing that we need to focus on, we also need to prioritize ourselves so that when we promote bitcoin, the effect of it will reflect on ourselves.

Online transactions may be one of the prevention but there are lots of ways to make online transactions, it's not only crypto. If people would adapt digitally, it's more likely to be cards or e-wallets. Maybe in the next years or decade, cryptocurrency will get more recognition, but for now, the benefits we see of bitcoin and crypto during this pandemic is still limited to us who've been using it even before.

Digital currencies are really effective most especially that there are a lot of fiat currency that can probably infected by this virus. We all know that people are really anxious about the virus and this cryptocurrency are the answer to your prayers. It is safe and faster than fiat when it comes to a payment for transactions.

[Cnut237]

it's hard to say that Bitcoin can make a difference during this epidemic right now.
Contactless and mobile NFC payments of debit cards are more popular now.

Yes, exactly.

the use of the bitcoin has huge benefits to the whole economy if they will adopt this it may prevent the virus from spreading too. If we use the bitcoin or the cryptocurrency as a transaction we can now avoid getting outside just to transfer your funds, also we can use this for having a secured transaction, and one of the best thing we will not touch any tangible money which is dirty money can cause rapidly spreading the money.

What do you think about this bitcoin adaptation? It can benefit while we are having this pandemic outbreak.

As above. Contactless and mobile for purchases where you have to physically be there, for everything else you can still use your bank card online (or Paypal or similar). This isn't specifically a time to be using bitcoin, it's simply a time not to be using paper and metal money.

Many people stated that bitcoin becomes a safe haven because it still has a good market price that is continuously pumping.

Bitcoin has the potential to be a safe haven. At the moment though we are some way from that point; the volatility in particular make it more of a highly speculative asset. I do think it will become a safe haven eventually, just not for some years yet.

[darewaller]

You can't really tell. The price of bitcoin has been going down recently, but I think that's because of the Halving that took place recently , and we don't know for how long it's going to be. A lot of miners are no longer into their business of mining because they can no longer afford their mining cost or maybe they have a weaker mining that cannot continue mining cryptocurrency.

Bitcoin and other cryptocurrencies were already recovering from the impact of coronavirus, now is halving and I don't know how long this one is going to be. I hope the comes to an end soon, and the price can go back up.

[Miaallen]

The major advantages I see in using bitcoin as a means of payment which other payment methods don't have is that the transaction cannot be traced and you enjoy a very fast delivery of your fund with a very low transaction fees and a store of values for one's funds.
The issue of not touching dirty money may not be so particular to bitcoin as most people make transfer of funds using their bank app without going to banks just like using bitcoin.

[Rengga Jati]

this pandemic happens before the Bitcoin halving. Actually, the price of BTC keeps increasing because of the hype of Bitcoin halving. However, some moments ago before halving, the pandemic really destroy the global economy. It influences all sectors of life, not only the health sector but also the financial and economy globally. This also influences the crypto world, especially the market price of every crypto, mainly the Bitcoin.

Actually, during this COVID-19, many industries are started to adopt Blockchain technology and it becomes a good way for cryptocurrency as one of the ways to stop spreading the virus because we do not need to touch each other. And what happens to BTC, the price is still volatile, the fee is high because of halving, and the price sometimes keeps increasing. We cannot determine if this is influenced only by COVID-19 but also by the hype of BTC halving. For, everybody expects to meet the high price of BTC in some months following.

Here for me, I am no longer working in a certain industry because of this pandemic. therefore, I only focus on doing jobs in the crypto world.
When participating in the signature campaign with BTC paid, this is likely heaven for me because it can really help us to survive int his pandemic.

In brief, COVID-19 really give big impacts to the world, including Bitcoin.

[Kasabus]

it's hard to say that Bitcoin can make a difference during this epidemic right now.
Contactless and mobile NFC payments of debit cards are more popular now.

Yes, exactly.

the use of the bitcoin has huge benefits to the whole economy if they will adopt this it may prevent the virus from spreading too. If we use the bitcoin or the cryptocurrency as a transaction we can now avoid getting outside just to transfer your funds, also we can use this for having a secured transaction, and one of the best thing we will not touch any tangible money which is dirty money can cause rapidly spreading the money.

What do you think about this bitcoin adaptation? It can benefit while we are having this pandemic outbreak.

As above. Contactless and mobile for purchases where you have to physically be there, for everything else you can still use your bank card online (or Paypal or similar). This isn't specifically a time to be using bitcoin, it's simply a time not to be using paper and metal money.

Many people stated that bitcoin becomes a safe haven because it still has a good market price that is continuously pumping.

Bitcoin has the potential to be a safe haven. At the moment though we are some way from that point; the volatility in particular make it more of a highly speculative asset. I do think it will become a safe haven eventually, just not for some years yet.

Bitcoin has gained more advantage today because of this pandemic outbreak wherein cashless paymemt is more encouraged rather than paying with fiat which will cause rapid spread of corona virus. I think this is a good moment for bitcoin to be known to all the people about the benefits of bitcoin. Bitcoin may be a safe haven for today's world phenomenon but having it as a world currency may cause more doubt as the world is not yet ready for it.

[FanatMonet]

Usually, when people write that Bitcoin will be some kind of breakthrough that can help us in a pandemic, I immediately have a logical question, why not, plastic cards will help us in this? They can also easily pay for something without leaving home, what is better than Bitcoin in this situation?

[CaVO32]

this pandemic happens before the Bitcoin halving. Actually, the price of BTC keeps increasing because of the hype of Bitcoin halving. However, some moments ago before halving, the pandemic really destroy the global economy. It influences all sectors of life, not only the health sector but also the financial and economy globally. This also influences the crypto world, especially the market price of every crypto, mainly the Bitcoin.

Actually, during this COVID-19, many industries are started to adopt Blockchain technology and it becomes a good way for cryptocurrency as one of the ways to stop spreading the virus because we do not need to touch each other. And what happens to BTC, the price is still volatile, the fee is high because of halving, and the price sometimes keeps increasing. We cannot determine if this is influenced only by COVID-19 but also by the hype of BTC halving. For, everybody expects to meet the high price of BTC in some months following.

Here for me, I am no longer working in a certain industry because of this pandemic. therefore, I only focus on doing jobs in the crypto world.
When participating in the signature campaign with BTC paid, this is likely heaven for me because it can really help us to survive int his pandemic.

In brief, COVID-19 really give big impacts to the world, including Bitcoin.

Your situation is a good example how crypto is influencing your life during this pandemic and I can say that earning via sig campaign is also a big help for me just like you do. And because of this pandemic , many people are finding themselves in front of their computer at home looking for options on how to earn money. And more than likely, they have encountered bitcoin along this journey owed to the media coverage regarding the halving that took place. Some will be interested on further checking out crypto while others will just it let go. However, those that got their interest on crypto, some of them will be crypto users later on because they will find some of the benefits that they can derive from the usage of it, thus, increasing the number of crypto users in the process.

[7788bitcoin]

  If we use the bitcoin or the cryptocurrency as a transaction we can now avoid getting outside just to transfer your funds, also we can use this for having a secured transaction, and one of the best thing we will not touch any tangible money which is dirty money can cause rapidly spreading the money.
 

Even i would dream for a day when there is a global adoption but for that to happen we need better scaling solutions so that everyone could send and receive bitcoin at a very low transaction fees. When i started bitcoin the motto was transfer any amount of money for basically zero transaction fees and it was awesome during that period but a few years down the road things changed as more people started adopting bitcoin and the network limitations will not help us in this situation.

May be in the next ten years we might see a global adoption with a much better scaling solution.

[Stedsm]

I won't just speak about Bitcoins but it's Crypto and CoVID we need to talk over.
I believe Cryptocurrencies have already proven their worth as a safe haven even in this worst pandemic situation because BTC already gained back $10k again after falling to $3800 where other major stocks and shares have declined so badly in numbers. Even alt season has come now where daily, few coins are showing some good moves by getting up at least 50% and some even going above 5-6x.

[Baofeng]

Usually, when people write that Bitcoin will be some kind of breakthrough that can help us in a pandemic, I immediately have a logical question, why not, plastic cards will help us in this? They can also easily pay for something without leaving home, what is better than Bitcoin in this situation?

Obviously, credit/debit card still the number one used as far as online and contactless payment. No where can bitcoin surpasses it at this crisis, we are still in the minority. But with a lot of uncertainties because of the pandemic, and with crypto slowly maturing, there could be a chance that bitcoin will slowly be adopted in this outbreak, it could be another alternative. Be it as store of value against physical gold as people are looking for other means. Of course, there is the scaling issue, as you can see there's a lot of threads lately complaining about how much expensive the fee is, but I believed this will normalise and we can again use bitcoin will less than $1 which could attract more people to use it online.

[Natalim]

As if bitcoin and crypto was only the digital money, kindly understand that we have a lot of digital payments bigger than bitcoin, and they are still faster compared to bitcoin and cheap as well. If we are using bitcoin for our daily transaction, how would it be possible when it needs minutes to transact, for now, I can't be too confident with that, and also, don't forget the volatility, people does not want that as they are afraid of taking risk.

Bitcoin is only good if all are using crypto, since if we use bitcoin, we still go with fiat to buy bitcoin and vice versa if we want to convert since most of our needs like for food, services, and etc cannot be fulfilled using bitcoin to purchase these. you know, the world is still reliant on fiat and that might stay forever.

[chaser15]

If we use the bitcoin or the cryptocurrency as a transaction we can now avoid getting outside just to transfer your funds, also we can use this for having a secured transaction, and one of the best thing we will not touch any tangible money which is dirty money can cause rapidly spreading the money.

People mostly use a fiat cashless payment system today via online payment. That's the most used now so in this method, fiat transfers already beat bitcoin transaction plus the fact that it only needs seconds to be processed and done.

There are also only a few stores and merchants accepting bitcoin so for many people around the world, bitcoin will not be considered in a time like this.

With Covid-19 happened or not, we really need more adoption for us to see bitcoin taking the spotlight in the payment system. Just imagine we have bitcoin today, can't leave our house, but yet can't use it to buy foods or essentials.

[bobyhodob]

when the covid 19 outbreak occurred I think with digital currencies such as bitcoin can be a place to make money transfers because with the presence of bitcoin can conduct transactions between countries with speed and ease when using bitcoin technology, when raising funds for their assistance the victims of covid 19 which is currently in the quarantine process at the hospital, the process will be faster.

[MCobian]

With the spread of the corona virus that has continued until now, it should make the price of bitcoin rise dramatically. Because bitcoin can be
an alternative payment in a situation like now, where financial transactions must be done digitally. In order to prevent physical contact, and
payment by bitcoin is one of the best solutions. Bitcoin is also very good as safe haven, so some people have started collecting bitcoin from
now on.

[CarnagexD]

Today with have many problems into the world of transactions many companies stop for a mean time having an export and import of their products which is not a good thing to do because some of the stocks and supplies from the different part of the community will be limited immediately because many people are consuming those a lot and some of the payment today is not going into physical money we all know that the physical money is consist a lot of dirt came from the places and hands from its previous users so one of the good thing we should adopt is with the use of the bitcoin or online payment, today there are limited person only knows the use of the bitcoin but some of them just know the use of the online payment or process like the paypal which is the same with the bitcoin and some of the stores over the world are already accepting the use of it which is a good sign for innovation and fastest transactions one thing that is good too in using the bitcoin for payment is the transpenrancy the users see the process and the transactions happen to identify if there is an interruption happening. I think the bitcoin will be the safe haven to the investors too because they can make huge savings on there it does not affect the fiat at the stock market because the bitcoin has still its own value if we are looking at on it.