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Author Topic: Does this Pandemic intensifies the usage of Bitcoin?  (Read 450 times)
Slow death
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June 22, 2020, 08:27:57 PM
 #41

We are all still currently experiencing the effect of pandemic and most of us do still tend to stay at home to avoid getting infected by the virus.

My question is that does this pandemic intensifies the usage of Bitcoin knowing that physical or paper money might also be a carrier of the virus once pass on hand might caught droplets bringing the virus from a certain individual.

Using Bitcoin provides cashless experience that we know safer with this pandemic so, does this means that people will tend to use Bitcoin at this time or still into fiat?

I have a question:

Imagine that a person does not have bitcoin, never used bitcoins, but that person is afraid to get a FIAT because he can get the virus. So how the hell is that person going to have bitcoin without leaving home? how is this person going to buy bitcoin without having money in the bank account? how did that person buy bitcoin without making KYC? And have you seen how high rates are when people buy bitcoin using a debit card?

it intensifies but not because of the scenario you have stated but because people look for ways to earn income at home

I believe that most people should be looking for things like youtube, blog. because to earn money with bitcoin just by buying bitcoin and for that the person will have to go through some procedures like KYC and high fees when buying with debit card and hodl Is something else that takes time and if they are people who need money with some urgency they will prefer what I said before: create a blog or create a youtube channel to earn money

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June 22, 2020, 08:55:44 PM
 #42

Imagine that a person does not have bitcoin, never used bitcoins, but that person is afraid to get a FIAT because he can get the virus. So how the hell is that person going to have bitcoin without leaving home? how is this person going to buy bitcoin without having money in the bank account? how did that person buy bitcoin without making KYC? And have you seen how high rates are when people buy bitcoin using a debit card?
^ It is a good question though, not all the times we can use bitcoin as payment when there are various numbers of good alternatives than bitcoin.
So, therefore, my answer is no. Pandemic has not intensified the usage of bitcoin because they don't have any connection, bitcoin continues rising up amends the COVID 19 situation. That was obvious that the economic crisis and bitcoin or other cryptos have not any correlated in the downtrend when the COVID virus almost killed our economic growth and now we are in a recession. Nevertheless, we should be thankful even bitcoin is not commonly worldwide payment used in but at least it is good for investment, as a safe haven.
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June 22, 2020, 10:02:37 PM
 #43

While my anecdote may not mean much, but I've noticed close friends/acquaintances talking about cryptocurrency more often than normal in the past few months. In general, I think people are losing faith in their governments over this crisis, so interest in decentralized currencies may just go hand-in-hand with the sentiment.
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