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Author Topic: COVID-19 Increased Bitcoin Adoption  (Read 22724 times)

Offline Hamzaal24

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COVID-19 Increased Bitcoin Adoption
« on: March 24, 2020, 05:35:08 PM »
Recent crises are testing the abilities of Bitcoin. The adoption of Bitcoin is increased as people are stuck at home they are looking for better solutions to transfer remittance and for purchasing.
Many countries are using blockchain technology to fight against the pandemic.
Why the price of Bitcoin is still down?

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COVID-19 Increased Bitcoin Adoption
« on: March 24, 2020, 05:35:08 PM »

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Offline Jaguar

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Re: COVID-19 Increased Bitcoin Adoption
« Reply #1 on: March 25, 2020, 05:44:01 AM »
In my opinion, it is wrong timing if bitcoin will increase. People staying at home cannot boast bitcoin value. People will choose to buy basic needs than buying bitcoin at this present condition.

Offline trauchot

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Re: COVID-19 Increased Bitcoin Adoption
« Reply #2 on: March 25, 2020, 09:31:05 AM »
I agree that a lot of areas began to use blockchain technologies precisely during the corona virus, but unfortunately this does not affect the price of bitcoin, unfortunately manipulators still decide what price bitcoin should have.
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Re: COVID-19 Increased Bitcoin Adoption
« Reply #3 on: March 25, 2020, 10:30:47 AM »
yes it a very good opportunity for crypto to gain a strong foothold in the world economy. When this virus can transfer from one person to another by paper cash then a paper cashless economy is a safer solution. I hope world leaders can understand the potential and necessity of the crypto and adopt it in their country. When lockdown took place then crypto can be a good alternative of paper cash.
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Re: COVID-19 Increased Bitcoin Adoption
« Reply #4 on: March 25, 2020, 01:11:01 PM »
Most importantly, bitcoin, created in the midst of the last economic crash, has shown there is a possible alternative to the central bank-controlled debt-based economy,an alternative that is yet to be truly tested, however.The spending by governments and central banks has already pushed many toward bitcoin.

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Re: COVID-19 Increased Bitcoin Adoption
« Reply #5 on: March 25, 2020, 04:38:36 PM »
Recent crises are testing the abilities of Bitcoin. The adoption of Bitcoin is increased as people are stuck at home they are looking for better solutions to transfer remittance and for purchasing.
Many countries are using blockchain technology to fight against the pandemic.
Why the price of Bitcoin is still down?

Unfortunately, in this current corona virus situation, there are obviously panic selling due to fear of a complete market crashing down. However, the price will definitely bounce back because many will be taking advantages of this low prices to buy, there by causing a quick market recovery

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Offline Alcor

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Re: COVID-19 Increased Bitcoin Adoption
« Reply #6 on: March 25, 2020, 05:52:19 PM »
Recent crises are testing the abilities of Bitcoin. The adoption of Bitcoin is increased as people are stuck at home they are looking for better solutions to transfer remittance and for purchasing.
Many countries are using blockchain technology to fight against the pandemic.
Why the price of Bitcoin is still down?
For purchases related to coronavirus, bitcoins were practically not used. This is the problem. Therefore, people first sold bitcoins through exchanges and exchanged for fiat. Therefore, bitcoin and other cryptocurrencies fell in price. Now the situation is recovering and the cryptocurrency market is gradually growing in price. It is unlikely that people will now use bitcoin for cashless payments under quarantine. Most likely, stable coins will be used, especially if each state will issue its own stable coin. People will have more confidence in such coins, and settlements in a national stable coin will be more convenient.

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Re: COVID-19 Increased Bitcoin Adoption
« Reply #6 on: March 25, 2020, 05:52:19 PM »


Offline Senin

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Re: COVID-19 Increased Bitcoin Adoption
« Reply #7 on: March 25, 2020, 06:18:26 PM »
Recent crises are testing the abilities of Bitcoin. The adoption of Bitcoin is increased as people are stuck at home they are looking for better solutions to transfer remittance and for purchasing.
Many countries are using blockchain technology to fight against the pandemic.
Why the price of Bitcoin is still down?

Unfortunately, in this current corona virus situation, there are obviously panic selling due to fear of a complete market crashing down. However, the price will definitely bounce back because many will be taking advantages of this low prices to buy, there by causing a quick market recovery
It is unlikely that people's fear of a complete fall in markets played a significant role here. To prepare for isolation under quarantine conditions, people first had to purchase food and basic necessities. Therefore, people used funds for this in cryptocurrency and due to an increase in supply, cryptocurrency fell sharply in price. This is evidenced by the current recovery of the cryptocurrency market after this.

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Re: COVID-19 Increased Bitcoin Adoption
« Reply #8 on: March 26, 2020, 05:09:28 PM »
Recent crises are testing the abilities of Bitcoin. The adoption of Bitcoin is increased as people are stuck at home they are looking for better solutions to transfer remittance and for purchasing.
Many countries are using blockchain technology to fight against the pandemic.
Why the price of Bitcoin is still down?
You mean the Covid-19 Pandemic is helping to drive cryptocurrency adaptation particularly bitcoin if you can give me reliable data about it, I might consider believing. because if we see the present situation I think it's not getting better so I presume its just purely speculation.

Offline Muneeb22

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Re: COVID-19 Increased Bitcoin Adoption
« Reply #9 on: March 27, 2020, 10:07:13 AM »
In my opinion, it is wrong timing if bitcoin will increase. People staying at home cannot boast bitcoin value. People will choose to buy basic needs than buying bitcoin at this present condition.

Peoples will buy the things through the digital coin becasue now the governments will say that the corona virus will spread through also the fiat currency thats why the chance of the bitcoin is high that it will going to be legal in all over the world.

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Offline debra

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Re: COVID-19 Increased Bitcoin Adoption
« Reply #10 on: May 03, 2020, 11:58:46 PM »
I don't get the information on valid data about it. So, not sure to answer it now. But I guess it is true, we can see from more and more people follow the adoption of taking advantage of Bitcoin. Although we know that most of the Bitcoins are used for digital assets or trading tools.
« Last Edit: May 04, 2020, 12:03:23 AM by debra »
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Re: COVID-19 Increased Bitcoin Adoption
« Reply #11 on: May 04, 2020, 06:35:37 AM »
With the advent of coronavirus, it is positive that states and their governments themselves urge people to use paper money less and more non-cash forms of payment. In addition, in the context of the coronavirus pandemic, they see an additional incentive to create their national stable coins, that is, their digitized currencies. This creates good opportunities for people to be more interested in decentralized cryptocurrency.

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Re: COVID-19 Increased Bitcoin Adoption
« Reply #12 on: May 04, 2020, 05:37:23 PM »
To be honest, I don't think Covid-19 has any effect on bitcoin adoption, though I admit it has specific on bitcoin price. During the pandemic, people stay at home buying food, drink or daily needs and carry out the payments by e-banking. Those things are too small in values to be processed by bitcoin.

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Re: COVID-19 Increased Bitcoin Adoption
« Reply #13 on: May 04, 2020, 05:55:38 PM »
Bitcoin is not controllable by pandemic, people staying at home, and online transaction. Bitcoin will continue to reign in crypto ecosystem.
Remember neither you believe it or not bitcoin is the coin that manipulate by people behind the scene as it is decentralized and founded by unidentified Satoshi Nakamoto.

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Re: COVID-19 Increased Bitcoin Adoption
« Reply #14 on: May 04, 2020, 07:27:56 PM »
Due to COVID-19, the world's economy has crashed, while the price of bitcoin is seeing a boom. Due to Corona virus, the attraction of people is moving towards paper cashless currency.

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