Fun

Crypto Community Gets Prepping as Coronavirus Spreads

News Feed - 2020-03-01 03:03:41

Crypto Community Gets Prepping as Coronavirus Spreads


Crypto Twitter (CT) might not be the first place you’d think to look for pandemic survival strategies, but in recent weeks the community has gone into overdrive, busily discussing scenarios related to COVID-19 aka the coronavirus. While some figures have merely wondered what effect the outbreak will have on the bitcoin market, others have started comparing prep notes in anticipation of doomsday.


Also Read:Bitcoin and Doomsday Preppers – Would Crypto Have Any Survival Value If SHTF? Crypto Twitter: Corona Takeover


Messari founder Ryan Selkis was one of the first major figures from CT to get under the hood of this thing: on February 10 he expanded Messari’s daily newsletterto include the latest coronavirus developments. Mentioning that he had prepared a “what if” disaster plan complete with supplies, travel protocol, and even Messari policy changes, Selkis linked readers to a shared gdocwhich summarized the outbreak, provided historical background and real-time updates, and was chock full of hyperlinks for further reading. A Twitter listof “the people I’m following most closely for new developments and studies of the virus” was also created.


Of course, crypto was referenced in passing, with Selkis noting that the potential pandemic “will tell us quite a bit about how bitcoin and crypto ecosystems respond to disruptive macro events at this type of scale.”


Since the newsletter was published, various figures from the cryptosphere have weighed in. U.S.-based exchange Kraken revealedthat it had a “global collapse and pandemic survival strategy in place since our founding in 2011” while touting its “remote-first, decentralized team of 800+.”



Binance founder and CEO Changpeng Zhao, meanwhile, announcedthat the platform had donated 10 million RMB worth of medical supplies via its Charity Foundation: the fund paid for everything from nitrile gloves and masks to disinfection liquid, protective suits and oxygen machines.


The most interesting stuff, at least for fans of The Walking Dead, has been conversations centered on prepping: disaster-management scenarios covering short, mid and long-term lockdowns. It’s probably to be expected: at the time of writing there are over 83,000 casesof Coronavirus across dozens of countries, and just under 3,000 deaths.


Survival kits are doing a roaring trade right about now, and one website – theprepared.com– has been suffering periodic outages due to surging traffic. The site contains a lengthy guidefor people keen to protect themselves in the worst case scenario which advises readers to “stock up on commonly used medications” and “prepare for the inevitable stomach problems that will arise from eating your shelter-in-place food by buying Imodium AD and similar products.” There are also daily updates and developments, with a survivalist slant, in their blog.


How Prepping Aligns With Crypto Philosophy


Although they are often treated with derision, preppers only seek to immunize themselves, insofar as is possible, against future disaster. Instability isn’t some illusory mirage on the horizon, it’s already here – manifested by market movements and troubling real-time maps enumerating the infected – and if the virus spreads globally, those who have at least countenanced the notion will be better placed to survive than those who’ve buried their heads in the sand.


In any case, there is much ideological common ground between preparedness advocates and crypto enthusiasts, with the former much more likely to hold gold, precious metals and bitcoin in recognition of the continued devaluation of the dollar. After all, these assets can’t be co-opted by desperate governments or, like paper money, burned to generate heat in a post-apocalyptic wasteland. Moreover, it’s easy to see the ideological equivalence between concepts of economic sovereignty and self-sovereignty as it pertains to the most precious commodity of all: life itself. Going viral


What if this coronavirus is the pandemic that public health people have been warning about for years?


It would accelerate many pre-existing trends.


– border closures

– nationalism

– social isolation

– preppers

– remote work

– face masks

– distrust in governments


— Balaji S. Srinivasan (@balajis) January 30, 2020



As for the disproportionately high number of flexible remote-working posts advertised in the crypto industry, perhaps that’s just a happy coincidence rather than a widespread fear of virus-spreading from handshakes. That said, the borderless nature of work in the cryptoconomy – with project teams spread throughout the world and a preponderance of virtual conferences – should mean, if not business as usual, then more stability in the face of corona-related disruption.



A recent surveyover 1,500 people on CT sought to determine why the coronavirus was the subject of such intense discussion among the fintech community. Responses to Coindesk contributor Nathaniel Whittemore suggested a combination of “sky is falling” sentiments, macro hedging and belief in BTC as a safe haven. Stephen Palley, an advisor at The Block, tossed in his two cents, opining that “one strand of crypto fundamentalism embraces virus doom prepperism b/c it correlates with a view of bitcoin as an end-days asset class.” Me: We’re prepping


Wife: you’re crazy


Me: 🦠📈🇨🇳☣️🌡🚜🚜🚜🏨☠️🔥@balajis 🛳⛔️🛫🙈🙉🙊


Wife: my FB group is 100k doctors and no one is even talking about it


3 weeks later:


Wife: Everyone in the group is freaking out!!! FB was hiding the comments!!! Did you get the stuff???


— Hector 🔑 21 (@HectorRosekrans) February 26, 2020



Another Twitter user, @HectorRosekrans, suggested “Finance and tech people are far more attuned to exponential trends than most. Add to this a Bitcoiner’s natural skepticism of authority, plus a conditioned response to media narratives that seem to intentionally miss the plot to serve a narrative, and you have a perfect storm.”


Whatever the answer, Crypto Twitter is unlikely to lose interest in COVID-19 any time soon. If you follow such accounts to learn about bitcoin and ether, don’t be surprised when you’re strongly advised to stock up on batteries and bug out bags. You don"t need insurance.

You don"t need weapons.

You don"t need backups.

You don"t need privacy.

You don"t need bitcoin.

Until you do.


— Jameson Lopp (@lopp) November 24, 2019



Do you think the crypto community is right to be concerned about the coronavirus? Let us know in the comments section below.


Images courtesy of Shutterstock.


Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Chartsto see what’s happening in the industry. Share this story: Tags in this story bitcoin corona, corona, Coronavirus, COVID-19, Crypto Twitter, outbreak, pandemic, prepper, Preppers, prepping, Survivalists, theprepared.com, viral Related Sharia Compliance in Bitcoin - What It"s All About, and Why Exchanges Like Beldex Seek Muslim Traders FEATURED | Graham Smith


Money is a critical part of everyone"s life, and for the religious it is even viewed as a matter of… read more. Bitcoin History Part 24: Celebrating the First Halving in 2012 FEATURED | Kai Sedgwick


As the third Bitcoin halvening approaches, a handful of OGs will wistfully recall the first such event, which occurred in… read more. Kai Sedgwick


Kai"s been manipulating words for a living since 2009 and bought his first bitcoin at $12. It"s long gone. He specializes in writing about darknet markets, onchain privacy, and counter-surveillance in the digital age. Please enable JavaScript to view the comments powered by Disqus.

News Feed

Ethereum Pain Is Far From Over: Why A Massive Drop To $1,400 Could Rock The Underperformer
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Eurosystem Approves New Oversight Framework Concerning Crypto Services
Eurosystem Approves New Oversight Framework Concerning Crypto Services The monetary authority of the euro area, the Eurosystem, has introduced a new framework for overseeing electr
Bitcoin Accumulation Ramps Up: Investors Scoop $4.16 Billion In Four Days
Este artículo también está disponible en español. The price of Bitcoin has turned in an impressive performance, forging successive all-time highs over the past week. Simi
Report: Leading NFT Marketplace Opensea Presented With $10 Billion Valuation, Investors Are ‘Clamoring’
Report: Leading NFT Marketplace Opensea Presented With $10 Billion Valuation, Investors Are "Clamoring" On November 17, a report disclosed that the leading non-fungible token (NFT)
Rakesh Upadhyay7 hours agoPrice analysis 10/20: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, DOT, MATICBitcoin price briefly pushed above the $30,000 level. Are altcoins poised to follow?2069 Total views5 Total sharesListen
First for SEC: Crypto Lending Platform Charged — Blockfi Agrees to Pay $100 Million in Penalties
First for SEC: Crypto Lending Platform Charged — Blockfi Agrees to Pay $100 Million in Penalties The U.S. Securities and Exchange Commission (SEC) has charged cryptocurrency lend
Oslo Freedom Forum: The best Bitcoin conference that isn’t about Bitcoin
Joe Hall3 hours agoOslo Freedom Forum: The best Bitcoin conference that isn’t about BitcoinIf I had to choose one Bitcoin conference to attend, it would be the Oslo Freedom Forum — and it"s technically not even about
XRP To End 7-Month Consolidation After 700% Surge – Is A Major Move Coming?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Argentine Province of San Luis to Issue Dollar-Pegged Stablecoin and Local Art NFTs
Argentine Province of San Luis to Issue Dollar-Pegged Stablecoin and Local Art NFTs San Luis, a province of Argentina, has approved a bill allowing it to issue a blockchain-based,
Want Bitcoin to Moon? You’d Better Start Buying Stocks
Want the Bitcoin price to surge to new highs? You"d better start buying stocks - or at least invest in an S&P 500 index fund. | Source: Scott Olson / Getty Images / AFPIt seems
Binance Futures Show Dogecoin Traders Are Heavily Long—Too Bullish To Fail?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Marcel Pechman10 hours ago3 reasons why Bitcoin price failed to break $37KBitcoin’s latest price pullback to $35,000 was driven by softer U.S. inflation, China’s economic challenges and regulatory uncertainties.4678