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Topic: [2019-08-15] Hong Kong Is Paying Higher Prices for Bitcoin Amid Political Unrest - page 2. (Read 339 times)

hero member
Activity: 3038
Merit: 634
With the trouble that's currently happening with Hong Kong their economy is truly affected with the political chaos. And people who wants to flee from that economic effect are intelligent to save their assets through bitcoin.

I feel bad that their country is still experiencing that misfortune knowing that they are one of the known country to have a good economy before the uproar there.  Undecided
legendary
Activity: 3248
Merit: 1160
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Bitcoin has been used by different countries who have trouble in their government, not only to save from hyper inflation but to save from the possible foreseen situation that will result to the decline of economy.

People are getting smarter now, because bitcoin can be access through internet anytime and anyway, that alone makes it easy for the holders to hold and keep and they don't have to rely in their own fiat currency if they don't trust its future. More and more country with troubled economy will use bitcoin as a shield and hopefully we can feel the positive effect in the market soon.
legendary
Activity: 2128
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it is one more alternative and it has been used in the same way in the past whenever some crisis forced people to do it.
hongkong has been fine for a long time enjoying privileges as the financial hub of asia. the new lords of HK seem not to care too much so people have to do the most logical next step.
legendary
Activity: 1526
Merit: 1179
Not a surprise at all, but we'll have to see if it is sustainable, and where this demand is coming from. If the situation there calms down a bit and the demand falls back to regular volume levels, we know it was just a blip.

Then we have to ask ourselves what these coins are used for. If it's just a tool to move value between countries and have it converted back to fiat, then this specific form of use won't really add much value long term speaking.

Either way, it doesn't change anything from the fact that Bitcoin allows them to move value from one country to another. Who knows what would happen if they tried the same with fiat with how pressing the situation is there.
legendary
Activity: 2128
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chinese do the same by the way. everyone who is half-way intelligent gets some bitcoins just in case.
asia, europe, america ...
ask anyone who understands what is going on. Smiley
sr. member
Activity: 1150
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Civil unrest has seemingly affected the supply and demand for Bitcoin over there. If I'm not mistaken, doesn't China hold the largest percentage of Bitcoin in the world? This was apart of a talk along time ago, when people were afraid of a 51% attack or something along those lines?
  It was years ago before all of the upgrades to the blockchain were made.
legendary
Activity: 4130
Merit: 1307
Everyone in Hong Kong with any intelligence should be buying some bitcoin as protection.  China wants control. Having bitcoin as part of an escape plan there is a smart thing to do.

At least some people in Hong Kong see it that way too.
legendary
Activity: 2128
Merit: 1109
Graphic Design & Translation - BTC accepted here!


Hong Kong Is Paying Higher Prices for Bitcoin Amid Political Unrest

Bitcoin (BTC) has begun trading at a premium in Hong Kong as continued political uncertainty produces a widely-reported spike in demand.
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