Post
Topic
Board Bitcoin Discussion
Re: Did Covid19 effected bitcoin positive or negative?
by
serjent05
on 28/11/2020, 18:22:29 UTC
I realized a world that the wise said that, When people are sleeping transactions goes down mostly at night, grate  people makes there money at night, no grate man sleep 6pm to 6 am, Bitcoin had a great value even during the COVID-19,If Covid19 happens to continue for 5 years, And the lockdown is still effective in all countries, bitcoin world have been the major currencies see as a medium of exchange, people will be afraid of going to banks of touching money from someone hands or holding physical cash, they will be really afraid of contacting Covid19,bitcoin will continue her  transactions even when the countries are not in a good state.

I would have agreed with your standpoint since I am pro-Bitcoin but in reality, I do not think that Bitcoin will be the major currency if the pandemic continues.  Remember, Bitcoin isn't the only virtual currency available in the market.  People are able to transact with the use of CC and Visa.  People can buy goods with the use of ATM card may it be prepaid or debit card.  If things gets worst, government and financial institution will adopt to the situation implementing cashless society with the use of cards or worst, the will just create their own cryptocurrency to at least have control on the flow of transactions.  Aside from that, banks will not just be idle and let decentralized cryptocurrency to take advantage of the scenario.  Banks will also do everything they can to cope up with the situation and take profit from it.