The post Bitcoin News Summary – March 16, 2020 appeared first on 99 Bitcoins.
The total value of all crypto fell sharply this week, losing over $100 billion from last week. Most of the decline occurred over Thursday and Friday, as panic over the economic effects of the coronavirus spread from traditional markets into crypto. Several records were set for various coins this week, such as the highest [...]
SHA 256 miners are about to face the music. BTC wears no clothes. The value of BTC is entirely speculative and not enough people will buy it post-halving. Billions of people are about to be laid-off across the world over the next 2 months. They will apply for unemployment but for many this will not be enough and many more will not have access to cash. You can already hear helicopters in the air as the central banks begin to openly consider UBI of their own volition... helicopter money in America. However, this will not be enough. It is always too little too late and fear will grip many and push out the assets without any fundamental value. There will not be enough greater fools for BTC but there will be many fools left.
However, there is still a lifeboat. BCH is still here and if miners rallied around this lifeboat then we could dump BTC and begin transferring all of that BTC USD liquidity to BCH. The miners can save themselves, their companies and their industry by actually storing value in... BCH. Even better, the first few miners to capitulate and begin dumping BTC for BCH could make sizeable gains while the last BTC miners and hodlers will surely die as the network grinds to a halt post-halving. How many more miners will capitulate?
This highly competitive industry about to become twice as competitive due to halving just as liquidity(cash) is about to evaporate from the market. Sounds alot like a dying industry. A dying $100 Billion industry that has one chance to change the narrative and shift remaining liquidity into BCH. Cash needs to flow into BCH if the miners want to survive.
Today is March 15, 2020 3 days have passed since the moment in which the Venezuelan national government has communicated that the first 2 cases of coronavirus have been detected in Venezuela, these two cases being concentrated only in one state of the national territory comprised by 23 States. It only took one more day for the sum of confirmed cases to increase from 2 confirmed cases to 17 confirmed cases, located in 5 different states nationwide and in different geographical areas, some of them in the state in which I live with my family. Official data from the government today is expected to be above 25-35 infected on the third day after the first person confirmed with the coronavirus.
What happened in Venezuela two days after detecting the first case of coronavirus?
Panic and anxiety has grown in the citizens of my country, we all know that my country is not prepared for a virus, much less for a pandemic of the world level like the coronavirus. The lack of medicines to fight colds, discomforts and fever are few and non-existent. Doctors have migrated out of the country and we have been left in a situation where there are no doctors in hospitals. Hospital infrastructure is precarious, there are no places of isolation in hospitals. Common emergencies must be treated together with possible cases of coronavirus. This is only at a medical level about hospitals and doctors, if we go a little further we must talk about the fear that exists in people due to the lack of medicines in the few pharmacies that still remain in our country, the lack of exports of medicines and The null production of drugs in Venezuela has created a real crisis of medicines.
70% or more of medicines as well as food are brought from the brother country Colombia mainly because of my proximity to the border area, it is a little easier to buy the medicines in the neighboring country, I think that was the number one plan of the Venezuelan inhabitants Upon learning of the first case of coronavirus in the country, the plan was to buy medicines for the cold, fever and discomfort in Colombia, although they are a little more expensive and are the only place near Venezuela where these products are found. To our surprise, the Government of Colombia has decreed since yesterday "THE CLOSING OF BORDERS WITH VENEZUELA", generating even more panic in us Venezuelans, and now what will we do? Where do we compare medicines? Cover mouths? Gloves? Foods?. Questions that in other countries are easy to answer, perhaps with a visit to the supermarket on the corner and we found everything. In my country, the way to find and be able to buy these items was not Colombia, and our borders are closed. We have had to try to look for products in Pharmacies and supermarkets in Venezuela and we have found that in the few places where products such as alcohol, mouth caps, gloves, and the medicines necessary to counteract the virus or prevent its spread are found, they have increased in value exorbitant, values ranging from 6 to 20 $ a mouth cap and 5 $ 500 milliliters of alcohol as an example of some products, Costs of these products are difficult to pay for the inhabitants of my country, I have visited several pharmacies and places of bandages of medical items but it has been satisfactory for us since our money is insufficient to buy these items due to their high prices. It is impossible for the same inhabitants who own these pharmacies to take advantage of the prices of medical articles simply by making money through the suffering and need of other people. There is panic and despair in my family because the prices of food items have risen, my family is very old and most of them have heart failure.
In other countries, you can find the amount of 20 masks or mouth caps for $ 20 in my country. 1 mask costs $ 5.
In the last minutes the president of Venezuela has announced that a collective quarantine is dictated in the states most affected by the virus (among these states is the state where I live), we must all stay in our homes from 5:00 am on the day of morning. These quarantine measures in the affected States are expected to stop the expansion and spread of the virus and thus be able to overcome the virus. The president has communicated that only one person is allowed to go out per family to make purchases of food or medicine and that all other people must stay at home, only pharmacies, supermarkets and medical centers are allowed to remain open.
We hope that the Coronavirus virus in Venezuela and the world will be defeated soon. For now, I will continue to update the virus information in my country through this means and we will continue to recharge our energy for when we manage to leave our homes and continue to develop projects, for now we will continue to quarantine. With my family. If you want to make a donation to buy medicines, mouth plugs, alcohol, paracetamol, food and basic necessities, it will be well received and appreciated by me and my family. Total thanks and I will continue to inform in a timely manner through this means.
Help and Donation: bitcoincash:qzsmn7lzl087j34n3kx4ptk2a8pwudyg4qetrq55lc
