Can we rely on Bitcoin and other cryptocurrency?

[coinfinger]

I don't rely on crypto-currencies now, I invest and hold them. On what I rely on is that crypto-currencies will change the economy
we know, and all who have them will have benefits from getting in early stages.

I do see most people on this discussion have stated similar to you. But, I have more faith on cryptocurrencies and I am having more than 90% of my saving only in cryptocurrencies. Because, I do not have any doubt on the future of cryptocurrencies and that is proved right after this pandemic times like it seems bitcoin has defeated the pandemic economy slow down as it manages to get back to the price ranges where it was trading before the beginning of pandemic times.

Still I need to agree that only time will judge that I am right or not; because it is too early to conclude that I am doing right with cryptocurrencies. As per my experience, I do suggest anyone to go for relying on bitcoin for a better future regardless of how world economy and pandemic are doing right now.

Having crypto for a jobless people will actually give them away to survive but couldn't think that it will give a sustainable way to fill all our needs, to buy stuff and other necessities but have to look for another way.

Yes, it will be depending on how much they are earning in cryptocurrencies. But I guess, when you are jobless and you're going full-time in cryptocurrencies then there are big opportunity for you to earn and have more cryptocurrencies so that you could afford to buy all the stuff of your needs through cryptocurrencies.

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[South Park]

That very much depends for what would you like to rely on Bitcoin. Buying stuff for daily needs, saving for entirenment, investing or something else.
By nature Bitcoin is risky so fully relying on it.in.any sense is risk. I think that we still need to combine Bitcoin and other cryptocurrencies with fiat money, without that it's hard to cover all our needs just with cryptocurrencies and we are exposed to too big risk.

having two currencies at hand , one is offline and one is online such as crypto and fiat are indeed can give us more stability or reliability in any condition  than compare to one currency only  , that is what i noticed lately . 

relying also means that we must save so that we can use something in the time that we need money the most   but saving is something that is hard or impossible to some people because they used thier money in unexpected events   .

So far this seems like the best a strategy to implement, holding only fiat is a mistake because as we know governments are printing money like crazy and this is reducing your purchasing power, but only holding bitcoin is not the best option either because you're going to be very limited in what you can do with it, so the best option is to hold both, with your fiat you can buy whatever you want and need and you can use your bitcoin to protect yourself from inflation.

[Olatunjex]

As of today, we cannot still rely on Bitcoin and other cryptocurrency due to their high volatility.Lately the profit on bitcoin has not been too good due to the rising and falling in the price but it has a lot of potentials especially when it is invested for long-term and it can also sustain present needs (depending on the amount you have) but for other cryptocurrency, they cannot be relied upon as an asset like bitcoin

[Nhor1011]

Bitcoin and other cryptocurrency has proven to change the lives of many. Through it's volatility many people earn a lot and make their lives better.So ,i think even we are experiencing difficulties caused of this covid 19 pandemic,we can rely on bitcoin and cryptocurrency as a source of income rather than nothing especially now that the number of unemployed keep on increasing.

[KrisAlex18]

Bitcoin is really beneficial, it helps us with our finances, there are many things that bitcoin give to us, there are many people that consider it as their source of income especially with this current situation. Just like me, as of this current situation bitcoin becomes my savior, it removes my boredom, this pandemic makes me focused on cryptocurrency and to this forum, I become active more not like before because I am a student and my priority is my school activities, now I have my full time and I can spend it anything I want. I can spend it on playing games, watching Netflix, and focus more on cryptocurrency like trading and investing.

[Shasha80]

Relying on Bitcoin in a situation like now is the thing must to do. Very difficult to find income in conditions like now, where the spread of
the corona virus still occurs. The impact is that many people experience economic hardship, because many companies lay off the employee.
But after relying on Bitcoin my economy is getting better, at least I can buy my daily needs. I can make money by trading Bitcoin and doing
bounty, even though I have to be at home but still can make money.

[bearexin]

Relying on Bitcoin in a situation like now is the thing must to do. Very difficult to find income in conditions like now, where the spread of
the corona virus still occurs. The impact is that many people experience economic hardship, because many companies lay off the employee.
But after relying on Bitcoin my economy is getting better, at least I can buy my daily needs. I can make money by trading Bitcoin and doing
bounty, even though I have to be at home but still can make money.

If you’re going to say relying on Bitcoin, do you mean as an investment? As an investment anyone doing that will be taking some risks because the price can flow to any position at anytime. Unless you’re good at trading, that’s when you will be able to rely fully on it and be trading daily and making profit.

As an investor, you’re not the same thing as someone who is trading it every minute, you’re basically just keeping your money and hoping that the price goes up so that you make profit. So, it would be best to look for things to do. There are lots of things that one can do to earn, even in this forum, so better to engage in some activities than expecting that money will come from nowhere.

[justdimin]

We can't just rely upon Bitcoin, not only because of its volatility and we aren't sure of what will happen in the following days but also because our income in crypto isn't stable. In fact, joining campaign and services won't mean that it last longer sometimes is just a month or even a week. Things that we can't think of how this could become a reliable source of income. It all just temporary and it much better to have another source of income.

Well, if you are considering signature campaigns as the only way to earn and rely on you are absolutely mistaken there. There are many ways you can earn crypto which can be as complex as affiliate marketing for bitcoin based casinos or they can be as simple as being a bounty hunter for various bounty and trade them for best price while there are many other ways like services in the marketplace section in the forum.

I personally do not rely on bitcoins for my livings but working for a few hours help me generate enough money that it goes a long way in fulfilling my dreams because the salary I get from my job is already not so good because we are working from home so the salary is cut-ff by a good number.

[coinfinger]

Relying on Bitcoin in a situation like now is the thing must to do. Very difficult to find income in conditions like now, where the spread of
the corona virus still occurs. The impact is that many people experience economic hardship, because many companies lay off the employee.
But after relying on Bitcoin my economy is getting better, at least I can buy my daily needs. I can make money by trading Bitcoin and doing
bounty, even though I have to be at home but still can make money.

That is true and I have seen a lot of people who used to do nothing earlier around me are now actually trading with bitcoin's price after they got to know about it and while not all of them are great at it, they at least are getting started so yeah crypto has a lot to offer during these rough times and there are many ways through which one can earn right now depending on their skills. Bitcoins are just currency for me as I use them for transactions so I can't say that I rely on bitcoins but yes it has solved a lot of problems for me and small money I make here at forum also helps during this time.

By the way the signature below your post shows $20 free for signup do they require any sort of verification etc and do we get the $20 straight away from joining it?

[Negotiation]

I think it will usually depend on the situation But Bitcoin and Cryptocurrency Can Rely on Although Bitcoin and Crypto are not stable currencies if prices rise Bitcoin investment will help improve a country's economy. Even though people are currently unemployed due to the virus bitcoin investing is helping them to earn money and they are able to overcome the financial crisis very easily.

[Janation]

We can't really rely on bitcoin right now. It is a speculative asset and it is not that giving a good profit lately as it is stagnant these days. Though it gave people a lot of profit in the long run, it is not really reliable and dependable so better chose another way to earn a profit, take note that you need a reliable and dependable source of income these days.

   FlightyPouch I think the answer here depends on what to rely on here. For us who doesn't have enough we can't rely to live
from our crypto-income, but there are people who are earn a lot in crypto-currencies, they can sell parts and still have a good life,
and savings in crypto-currencies.
   I don't rely on crypto-currencies now, I invest and hold them. On what I rely on is that crypto-currencies will change the economy
we know, and all who have them will have benefits from getting in early stages.

You are saying that these people with a lot of cryptocurrencies are actually selling them to earn money?

That just means they are making Bitcoin and their other crypto investments as a source of income by selling them everyday to provide for their family? Not all of those people are actually selling their holdings since they can provide without them. They don't rely in cryptocurrencies, for sure they have jobs they can rely on.

Another proof they are not selling them is the fact that they are surely holding it and plan to sell it for a good price in the near future.

[serjent05]

For some individuals working in Cryptoworld like me, can we rely on Bitcoin to sustain our needs and help prevent the economy collapse as this Pandemic continues?
As I've just heard from the news, there's a new swine flu disease which is a threat discovered in China again 😢 and has a Pandemic potential that the experts need to keep eye on.

Yes and No.  Yes if we are working in cryptoworld, it can sustain our daily needs but in general we cannot rely on Bitcoin to sustain one country's economy.  As you can see during this time, Bitcoin had been struggling to sustain its upward momentum in the market let alone to sustain someone's economy.  It can help a person individually by the job created by some company that wanted to take advantage of the cryptocurrency market and its taxes but the effect of such is too small to help the sustainability of a country. 

[Inkdatar]

I think it will usually depend on the situation But Bitcoin and Cryptocurrency Can Rely on Although Bitcoin and Crypto are not stable currencies if prices rise Bitcoin investment will help improve a country's economy. Even though people are currently unemployed due to the virus bitcoin investing is helping them to earn money and they are able to overcome the financial crisis very easily.

Actually, bitcoin could help many people since a lot of opportunities to learn and earn in crypto. As we have been knew the price in here is not stable indeed so there's a huge risks if we're relying only in bitcoin to sustain our daily needs. Well that's good to hear that some are currently gaining through bitcoin investing but in my view it is also best to have an other option of source of income.

[reliable]

I do rely and have full confidence on the bitcoin and its future. So, did I had some years back as well and still continue to do so and also one of good thing that in life I did was that I trusted the right thing with crypto currency was believing in the bitcoin and the some of the altcoins as well. This for me is going to change lot of things in coming time and some things in my personal life has already changed because of it.

[deisik]

As you can see during this time, Bitcoin had been struggling to sustain its upward momentum in the market let alone to sustain someone's economy. It can help a person individually by the job created by some company that wanted to take advantage of the cryptocurrency market and its taxes but the effect of such is too small to help the sustainability of a country

Well, personally, I would use a different terminology, more specific one

Bitcoin can be used as either a means of exchange (payment) or a store of value. The use that interests us here is that of a means of exchange. So the right question to ask is whether it can be used as a self-sufficient means of exchange in the economy of a whole nation without relying on fiat (provided we discard technical limitations like transaction costs and times)? Yes, it is volatile. However, it is volatile in some other fiat currency (mostly, the American dollar), and this volatility can be attributed and assigned to the volatility of that fiat

[perfect999]

Residents of one of villages in El Salvador are already completely relying on Bitcoin, using it in everyday life instead of common money. (https://www.cryptoglobe.com/latest/2020/07/bitcoin-is-being-used-for-everyday-transactions-in-this-village-in-el-salvador/) This example shows nothing is impossible if the life force you to do something. I guess the current pandemic will force governments seen Bitcoin and cryptocurrency in a slightly different light.

As I was reading the article it was only possible to transact with bitcoins everyday because of the project "Bitcoin Beach" that was started by Michael Peterson and that is the reason because when someone takes an initiative and educate people about it then it brings faith and the feeling of togetherness among people.

They are giving away $35 worth of bitcoins every 3 weeks which is actually small but still a great initiative and that is a lively example how bitcoins can actually help recover economies that are almost deleted by these COVID-19 times.

Thanks for the article because this made me so happy and made my day, I really appreciate such initiatives and news where bitcoin is helping the economy.

[FlightyPouch]

We can't really rely on bitcoin right now. It is a speculative asset and it is not that giving a good profit lately as it is stagnant these days. Though it gave people a lot of profit in the long run, it is not really reliable and dependable so better chose another way to earn a profit, take note that you need a reliable and dependable source of income these days.

For us who doesn't have enough we can't rely to live from our crypto-income, but there are people who are earn a lot in crypto-currencies, they can sell parts and still have a good life, and savings in crypto-currencies.

Well, you said it yourself. They may sell some of it but they don't rely on it. There are those that earned a lot of profit from cryptos but I don't think they really rely on it. Some people I know is just holding their btcs and cryptos right now and they are not planning to sell them since the price might pump in the near future.

Unless they are working for example, freelancing and taking their payments bitcoin, we can say they can rely on it but I would prefer to accept fiat if that is the case since the volatility of it may affect me.

[Shimmiry]

We can't really rely on bitcoin right now. It is a speculative asset and it is not that giving a good profit lately as it is stagnant these days. Though it gave people a lot of profit in the long run, it is not really reliable and dependable so better chose another way to earn a profit, take note that you need a reliable and dependable source of income these days.

For us who doesn't have enough we can't rely to live from our crypto-income, but there are people who are earn a lot in crypto-currencies, they can sell parts and still have a good life, and savings in crypto-currencies.

Well, you said it yourself. They may sell some of it but they don't rely on it. There are those that earned a lot of profit from cryptos but I don't think they really rely on it. Some people I know is just holding their btcs and cryptos right now and they are not planning to sell them since the price might pump in the near future.

Unless they are working for example, freelancing and taking their payments bitcoin, we can say they can rely on it but I would prefer to accept fiat if that is the case since the volatility of it may affect me.

Some people only buy bitcoin and cryptocurrencies to sell their cryptos if the price starts to pump up and exchange it into fiat that they don't want to hold and keep their bitcoins and cryptocurrencies in the long term. Unlike other crypto users, they do rely on bitcoin and cryptocurrency because some of them used their monthly or weekly income on their trades and signature campaigns for their necessities and monthly bills.

[Da_Primate]

Ofcourse we can rely on  cryptocurrencies, it's the best and easiest way to transfer wealth without interference. With crypto, the future is bright.

[Cvetik56]

We are fully aware that the whole world now is combatting the war of the unknown, or this Covid-19 that cannot be seen but killed nearly a million of people across the globe. And we are in this battle for over half a year now, but still, the Cure is so hard to be found. So devastating as it was, as the losses rises each day in all kinds as often mentioned.

Sadly, we do not know yet, when all this chaos be over.

For some individuals working in Cryptoworld like me, can we rely on Bitcoin to sustain our needs and help prevent the economy collapse as this Pandemic continues?
As I've just heard from the news, there's a new swine flu disease which is a threat discovered in China again 😢 and has a Pandemic potential that the experts need to keep eye on.

cryptocurrencies are just as any other currencies won't worth anything if people won't buy anything.
Crypto on its own is just a bunch of code and thats it.
Only while people do work and spend and buy stuff WITH help of currencies - those currencies worth at least something.
Thus being said you can't blindly rely on currency, you have to watch around and see if people still do use it