Ninjastic
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Board Bitcoin Discussion
Re: Covid-19 and Bitcoin
by
Maroons
on 14/10/2020, 11:00:10 UTC
Quote from: xZork on Today at 06:07:36 AM
Quote from: PANK21 on Today at 05:43:39 AM
Quote from: bitcoinermatt on August 16, 2020, 01:37:08 AM
Coronavirus has made us stay home for months now, Bitcoin's price rised while most stocks crashed. Bitcoin's price rise probably has something to do with Coronavirus, People are staying home, buying things online to avoid contact with other people. My question is are more people being initiated to Bitcoin and are Bitcoins scams more frequent because of covid-19?
I totally agree with you.Due to pandemic, bitcoin got the attentions of the people who are terrified to go outside and just want to use online transaction to buy their needs. Bitcoin is very easy to use and hassle free, that is why bitcoin is the most used digital crypto  all over the world.Well, on the positive side COVID 19 help other people to appreciate Bitcoin because of our situation right now BITCOIN really helps us to survive this pandemic just by staying home and help not spread the virus. KEEP SAFE EVERYONE.
There are many payment methods for online transactions, bitcoin is only a small part of them. Even in some countries like China and Vietnam, payments in bitcoin or another cryptocurrency are prohibited. So I do not think that bitcoin is going up due to people participating in many online transactions. Perhaps during the epidemic many companies' stocks plunged so many investors turned to invest in bitcoin and that caused bitcoin to rise in price.
This is what I have saying to myself upon reading post that says bitcoin's reason for its growing price was because of the people who are in quarantine and bought bitcoin because they are afraid to go outside, first of all fiat also have online transactions and in my country that is the one who really got lots of attention during this pandemic, lots of people sell stuffs online and then they mostly pay online and yes bitcoin's acceptance is not that great right now to think that people are using it because they don't want to touch paper money, in my country there are only few stores that accepts bitcoin so I really disagree that bitcoin got lots of attention because people are choosing it as their payment in online transactions, people are still comfortable with fiat and will always be. The only thing that is really happening right now is people are being exposed more to cryptocurrency, they are knowing about it but we may not know maybe some people will use bitcoin after months of knowing about it but still I think they won't still make it as their primary payment for online trnsactions.