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❓ASK People In US Using Coronavirus Relieve Funds To Buy Bitcoin

NoLimits15

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The coronavirus pandemic has prompted the US government to issue relief funds for its citizens who come from low-income families. The government struck a deal to offer around $2 trillion relief funds. The interesting thing is that most people are using those funds to buy more bitcoin in the hopes of becoming rich if it's value increases exponentially one day. I mean what do you guys think of this? Is this a wise idea??
 

Conorj

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that's good... how i wish my country corrupt government could learn from US government to give we citizens relief funds like US government.
 

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It is a good investment for them and thumb up for government of US, I heard they had to print more money to curtain this pandemic, I don't know how true it is. I also urge the residents to invest wisely and consciously.
 

Daniel001

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That's actually a smart move by people in US who are investing there money doing this, my country did not distribute the money allocated for the Corona pandemic to everyone.
 

Demonicsheikh

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The coronavirus pandemic has prompted the US government to issue relief funds for its citizens who come from low-income families. The government struck a deal to offer around $2 trillion relief funds. The interesting thing is that most people are using those funds to buy more bitcoin in the hopes of becoming rich if it's value increases exponentially one day. I mean what do you guys think of this? Is this a wise idea??

I don't think that is true because many people are starving and are desperate for work. If people bought bitcoins then the price would have spiked.
 

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I don't think that is true because many people are starving and are desperate for work. If people bought bitcoins then the price would have spiked.
I agree with you to an extent, cos there are so many things they need to get and I doubt if the money giving to each household will excess except for few individuals who had extra cash before the pandemic. The price of Bitcoin keeps dropping which ordinarily would have increase as results demand.
 

Brain

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It is a good idea for you providing they have funds to immediately use than starving anyone. Buying and holding Bitcoin now for future sale is a good investment.
 

microunit

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i mean it's a good thing to invest in btc now cause of its average price and the halving that is going to happen, but who know when the price will hit its peak, it will still be a couple of years, the invested money might not make it to those years as most of them would just right out trade those to fiat money when in need especially at the current pandemic situation
 

LunaCoco

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They are actually managing their funds better than what I hear my countrymen are doing with their received relief fund. People here gamble the money, or buy things that are useless in this pandemic.
The only thing they have in common is that they're not using it for the intended purposes.

If I was an American thou, I would definitely use my $1200 cheque to buy bitcoin :Cigar:
 

Mbwolf

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I mean it's a smart idea to switch your money to bitcoin right now
but I don't think it's a good thing for families in need like maybe the price will go down more and they will lose too
so basically it's good for people who aren't in need of help
 

Crytoman04

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Well. Unfortunately the EU or Germany where I live doesn’t do the same.
I would buy crypto’s from it because atm I am not affected from covid 19. after the crisis is over I fear an inflation(is it an English word??), I mean money is losing his worth due to printing billions of new euros, and that will lead to an economic crash I think.
So buying crypto is great to save the money
 

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I mean it could be a wise decision if the money is properly invested, like buying when the value is low and selling when the value is high. But, I believe people should firstly focus on their needs being fulfilled like bills
 

hibi3454

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Probably Yes but maybe its not a good idea as bitcoin is very much volatile you can expect a sudden increase or decrease in its value. But in recent scenario i think it is a good decision.

Absolutely agree with you here, as I said people should firstly focus on paying bills and for basic necessities before taking the risk and investing in cryptocurrency - what do you think?
 

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I mean it could be a wise decision if the money is properly invested, like buying when the value is low and selling when the value is high. But, I believe people should firstly focus on their needs being fulfilled like bills
What should determine if the citizens should invest their relief funds in bitcoin is there state of welfarism, the funds were released to ease their inconveniences, if an household or a person feel he has enough to keep in to stay at home then he can invest if not they should the money to get things that are needed now.
 

kaleembilal

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At least even that there is one good thing that the people of us are starting to see that there is a huge potential in the cryptocurrency
 

microunit

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Tr
At least even that there is one good thing that the people of us are starting to see that there is a huge potential in the cryptocurrency
True to that , though i doubt most of them are gonna wait that long for the price to fo up before selling their bitcoin as because of the pandemic they might just use it for daily necessities
 

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Those who bought bitcoin and had no spare money to spare to spend will surely have to sell them to pay up for their bills if not hunger will take over their lives.
 

Evanchua24

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Do the givernemnt provide cash assistance money the people? If yes how much? Becuase its not in the news
 

Dex Dannie

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If the government is actually giving out release funds is still a myth. But if it’s true, then it’s not a bad idea to get some bitcoin. I mean you’re going to make profits anyway.
 
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