If bitcoin is made for times like these why is everyone selling at a time like this?
China quarantined fiat FFS.
This tells me 100% BTC is only a financial purpose and not a practical purpose overall.
Just venting a little. This selloff is nuts.
Bitcoin is not made for times like this. Bitcoin is made for financial crisis. Collapse of central banks. Bitcoin is also not ready to replace fiat at this moment. So even if in half year time central banks collapse I dont see that Bitcoin will be useful replacement.
What happened yesterday and what happened last year is totally normal. Same can continue this weekend and next week. It can or not. We will see. On long term all this is good for Bitcoin since it slowly destroys central banks. Good things for Bitcoin are not just that price of Bitcoin increase. Good things are that people talk about Bitcoin and that they use it.
How come it is not for a practical purposes? This Covid-19 pandemic killed a lot of people because some of them aren't financially stable, most of them are adults and 60+ yrs old. Plus, they don't have enough money to protect themselves from the virus. They can't buy foods, medicines, alcohol or something that they can use as a protection in everyday lives. We can help by donating our bitcoin to the community because fundraising is very essential so that people will reduce their suffering and we can save lives. Bitcoin can increase and you can recover those bitcoin that you've donated to the community in the future, instead of holding, use it in practical purposes so that it will not be useless as you wait for the bitcoin's price to increase again.