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    Author Topic: Covid-19 and Bitcoin  (Read 1214 times)

    • Maroons
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    October 14, 2020, 11:00:10 AM
     #101
    Quote from: xZork on October 14, 2020, 06:07:36 AM
    Quote from: PANK21 on October 14, 2020, 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.

  • Lanatsa
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    October 14, 2020, 11:07:30 AM
     #102
    Quote from: Betwrong on October 14, 2020, 07:45:27 AM
    Quote from: xZork on October 14, 2020, 06:07:36 AM
    Quote from: PANK21 on October 14, 2020, 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.

    I have had different opinions regarding what causes BTC to rise or fall, but eventually have come to this one: Bitcoin fluctuates independently from what's happening in non-crypto world, and after the rise or fall occurs, people start linking it to this or that event.  We had seen steeper rises with no pandemic around, and there was a drop from $10k down to $5.2k during the current pandemic. In short, I think there's little to no correlation between Bitcoin price and COVID-19.
    I had always the thing in mind that I don't really correlate cryptocurrency and traditional markets or events that happened outside on crypto sphere but you cant really stop people on not to make speculations about it where sometimes you can really connect them up specially if prices do really move in the same manner.

    About Covid 19 and bitcoin then we have seen on how economies is heavily affected by this pandemic and theres no doubt that there might be some effects but not really that much.

    Taking for example on making out comparisons that the current economic state which is still on reds while crypto is slowly recovering.
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  • Dorodha
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    October 14, 2020, 11:40:50 AM
     #103
    The demand for Bitcoin has increased a lot due to Covid-19 Many have found a source of their work from sitting at home on the Covid-19. Bitcoin is a great opportunity for everyone the bitcoin mining industry is currently advancing at a very rapid pace. Earlier this mining work could be done through computer at home but now specialized data center is being used. These data centers are a warehouse where there are lots of computers just to find bitcoin due to the Covid-19 their speed has increased due to which Bitcoin is going up a lot.

  • gospelzm
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    October 14, 2020, 12:29:33 PM
     #104
    I know from a friend of mine that many people in Italy turned to Bitcoin in spring when the country was suffering from huge amounts of the diseased and dead. This tendency has started for every country to some extent, so the correlation between demand for Bitcoin and Covid19 spreading is undisputable.

  • ice098
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    October 14, 2020, 01:07:49 PM
    Last edit: October 14, 2020, 02:41:26 PM by ice098
     #105
    Quote from: J1mb0 on October 14, 2020, 06:56:33 AM
    Quote from: gbrendeh on October 05, 2020, 11:01:16 PM
    I can say that COVID bring helps to bring more attention to the blockchain revolution. Most people get to know about Bitcoin usage during this period and somehow serve  a safe heaven.
    Perhaps bitcoin rose in value because of the pandemic so people were at home and exposed to the internet more and they began to learn about bitcoin and blockchian technology. Along with companies doing hard work, stock and investor confidence plummeted, causing them to notice and invest in bitcoin.

    Despite of the worldwide economic drought that this Covid 19 pandemic brought to us the uplifting of the market value of cryptocurrency was the good thing that ever happened in this middle of the crisis. Quarantine protocols of each every country required each people to be stayed in their homes and this also gives people to have more time being engaged in social media and technologies and this was also a time where people are looking for a source of income while staying at home. And no doubt that this cryptocurrency, investment and trading was fit for this kind of crisis.

  • Betwrong
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    October 15, 2020, 09:53:23 AM
     #106
    Quote from: Dorodha on October 14, 2020, 11:40:50 AM
    The demand for Bitcoin has increased a lot due to Covid-19 Many have found a source of their work from sitting at home on the Covid-19. Bitcoin is a great opportunity for everyone the bitcoin mining industry is currently advancing at a very rapid pace. Earlier this mining work could be done through computer at home but now specialized data center is being used. These data centers are a warehouse where there are lots of computers just to find bitcoin due to the Covid-19 their speed has increased due to which Bitcoin is going up a lot.

    Seriously? You mean, the "computers" in those "specialized data centers" were infected by COVID-19, and their temperature increased, and, as a consequence, their "speed of finding bitcoin" increased as well, and then ... wait, "Bitcoin is going up a lot" because ...? Now I'm lost completely!  Grin

    Mate, please double check what you are posting. Smiley
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  • int03h
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    October 15, 2020, 12:43:33 PM
     #107
    The disease causes economic recession. Cash flow is no longer focused on manufacturing or service industries but is withdrawn and invested in stocks, gold, silver and bitcoin.
    That is the reason for bitcoin to rise in price in the past.
    The epidemic has kept people from using cash more often, but focusing on cryptocurrencies and other cashless means of payment. We can say the epidemic indirectly makes people use more crypto (mainly bitcoin) that provides liquidity for the crypto market.

  • xZork
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    October 16, 2020, 10:48:19 AM
     #108
    Quote from: elisabetheva on October 14, 2020, 07:18:48 AM
    Quote from: J1mb0 on October 14, 2020, 06:56:33 AM
    Quote from: gbrendeh on October 05, 2020, 11:01:16 PM
    I can say that COVID bring helps to bring more attention to the blockchain revolution. Most people get to know about Bitcoin usage during this period and somehow serve  a safe heaven.
    Perhaps bitcoin rose in value because of the pandemic so people were at home and exposed to the internet more and they began to learn about bitcoin and blockchian technology. Along with companies doing hard work, stock and investor confidence plummeted, causing them to notice and invest in bitcoin.

    an opinion that could be plausible and relevant too, but whether covid-19 directly impacts crypto, I believe there is no direct. even though there are many people at home with very difficult situations, those who are new to crypto will think of investing because other needs are also very much needed.

    crypto is still running with or without the Covid-19 pandemic, because the system built has helped people to be able to make every transaction easily. crypto is very good as a lucrative investment that makes many interested in crypto.
    In a way, the covit-19 pandemic still impacts bitcoin and cryptocurrencies. At the moment it is causing bitcoin to rise in price, because more people are paying attention to the cryptocurrency market.
    Through this pandemic perhaps people and the way the government will have a better view of the cryptocurrency market, it is clear that cryptocurrencies are becoming an irreversible trend in the future.

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  • Gotumoot
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    October 16, 2020, 11:17:19 AM
     #109
    Quote from: xZork on October 16, 2020, 10:48:19 AM
    Quote from: elisabetheva on October 14, 2020, 07:18:48 AM
    Quote from: J1mb0 on October 14, 2020, 06:56:33 AM
    Quote from: gbrendeh on October 05, 2020, 11:01:16 PM
    I can say that COVID bring helps to bring more attention to the blockchain revolution. Most people get to know about Bitcoin usage during this period and somehow serve  a safe heaven.
    Perhaps bitcoin rose in value because of the pandemic so people were at home and exposed to the internet more and they began to learn about bitcoin and blockchian technology. Along with companies doing hard work, stock and investor confidence plummeted, causing them to notice and invest in bitcoin.

    an opinion that could be plausible and relevant too, but whether covid-19 directly impacts crypto, I believe there is no direct. even though there are many people at home with very difficult situations, those who are new to crypto will think of investing because other needs are also very much needed.

    crypto is still running with or without the Covid-19 pandemic, because the system built has helped people to be able to make every transaction easily. crypto is very good as a lucrative investment that makes many interested in crypto.
    In a way, the covit-19 pandemic still impacts bitcoin and cryptocurrencies. At the moment it is causing bitcoin to rise in price, because more people are paying attention to the cryptocurrency market.
    Through this pandemic perhaps people and the way the government will have a better view of the cryptocurrency market, it is clear that cryptocurrencies are becoming an irreversible trend in the future.
    Yes I agree that Corona virus has an affect in Bitcoin and other crypto since it open opportunity for people to continue on earning while we are in pandemic and some have used it to continue gambling since local casino has been forced to be closed.
    So those gamblers and other people have their own reason why they joined in crypto currency why they choose to use it now.
    So due to corona virus and being forced to stay at home people have been interested in crypto currency,
    I also experience it due to lock down some of my relatives and friends has been inquiring about Bitcoin and how they could earn from it how to use it.

  • ekeh
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    October 16, 2020, 02:07:04 PM
     #110
    Bitcoin really proof it potential during pandemic period, which most business and transaction are done online payment. Every thing is transparent on any given transaction. They're for covid-19 pandemic really open the masses eyes to know that bitcoin is really and legit business across the nation.

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    October 21, 2020, 01:22:01 PM
     #111
    The fact that bitcoin flourish during the pandemic won’t be undermined because lots of people where dismissed from their various work place and forced to be quarantined. These acts triggered lots of digitalized platform as students learn on the internet and working class people continue their office activities online, working from home.

    These leverage gave a lots of people the opportunity to capitalize on the internet to survive, many people where exposed to lots of digital platform to earn living and these expanded the knowledge of bitcoin among many. Bitcoin was even more appropriate and people now have alternative to save their funds and also invest in time of pandemic and global economy crisis. The demand for bitcoin became high as many people wants to save more bitcoin and nobody wants to sell. The available bitcoin for sale is at high purchasing rate.

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    October 21, 2020, 01:40:34 PM
     #112
    Many people think that pandemic causes the bitcoin crash well, in fact, this is false information because even though the virus is still existing the price of the bitcoin did not stop from inflation.

    Most of the people become more focused on cryptocurrency because many people love their job because of the pandemic and by that, they should still think of more ways to earn money and cryptocurrency will them by that, on which cryptocurrency did not disappoint us with the profit we can have from investing.

    This pandemic also causes of having many scams or fake investment website because the scammers and hackers will grab this opportunity to fool people, they know that many people could be the victim of a scam because of the eagerness of earning money.

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    October 21, 2020, 03:19:35 PM
     #113
    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?
    It might have help Bitcoin gain some attention from non crypto person due to the lock down so I think it really had something to do with it.
    I also agree that online scams are rising up due to corona virus not just in crypto but also in other things.
    I hate to say this but due to lock down some people are being bored and there are some who doesn't care about other's who scam others on their online business or the delivery workers for their fun and tell them that it is all just a prank and they would just greet them on their youtube channel or whatever.

  • concept2
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    October 21, 2020, 05:12:59 PM
     #114
    Covid-19 pandemic does take an important role in the development of blockchain. While the government enacts social distance to stop the spread of coronavirus, people can't sit back and relax, they need livelihood to feed their family and that's the reason why Bitcoin is noticed more in this pandemic. They start investing and everything is paying online by Bitcoin which avoids close contact with other people. It's really convenient because you don't need to go anywhere, you can do at home and get paid. Without any doubt that Bitcoin initiated people from investing and using Bitcoin more frequently.

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    October 21, 2020, 07:15:50 PM
     #115
    Quote from: gospelzm on October 14, 2020, 12:29:33 PM
    I know from a friend of mine that many people in Italy turned to Bitcoin in spring when the country was suffering from huge amounts of the diseased and dead. This tendency has started for every country to some extent, so the correlation between demand for Bitcoin and Covid19 spreading is undisputable.
    of course, that is indisputable...
    in my country, the growth of Bitcoin buyers has increased by a few percent even though on average they buy in small amounts. The outbreak has led many people to start investing and making a profit from the internet and Bitcoin has become a great attraction for those looking for profitable investments in this time of crisis.
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  • Chris Barth
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    October 21, 2020, 08:56:53 PM
     #116
    Just like you said and I've been telling people; more people got to know bitcoin due to the stay at home policy caused by the virus. However, it is disappointing that a lot of people have been scammed and hence making the newbies who just joined to think that it is some sort of scam. If anyone introduces bitcoin to others or maybe know some newbies, please try to let them get the real information about bitcoin, and if possible, other cryptocurrencies.
    Get a wallet and move some BTCs, here's mine: [12GZz7hegu8VCkJYHSuP3WTXg7LGXgL1vT]

  • CarnagexD
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    October 21, 2020, 10:24:08 PM
     #117
    Quote from: concept2 on October 21, 2020, 05:12:59 PM
    Covid-19 pandemic does take an important role in the development of blockchain. While the government enacts social distance to stop the spread of coronavirus, people can't sit back and relax, they need livelihood to feed their family and that's the reason why Bitcoin is noticed more in this pandemic. They start investing and everything is paying online by Bitcoin which avoids close contact with other people. It's really convenient because you don't need to go anywhere, you can do at home and get paid. Without any doubt that Bitcoin initiated people from investing and using Bitcoin more frequently.
    I'm not seeing the correlation honestly. If anything, the COVID-19 pandemic should've whittled bitcoin's price right now. Not that I want it to happen, but if you take into consideration all the factors, it would make sense if the price crashed. Nevertheless, still happy that bitcoin is at a safe spot right now. But no, this increase is not caused by the pandemic.
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  • 1kodumtek7
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    October 22, 2020, 05:43:43 PM
     #118
    I have already thought that the pandemic would negatively affect in the beginning. On the day of the quarantine, bitcoin and other cryptocurrencies fell to half the price overnight. Afterward, bitcoin has started to increase slowly. During the pandemic process, we saw again that the position of bitcoin and blockchain will be very separate in the new world order.
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