Hong kong and China war can lead to possible Bitcoin popularity

error08

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I think the conflict between Hong Kong and China will not affect the price of bitcoin. proven that the price of bitcoin is fixed at around $ 8k. although there may be some investors who withdraw their money from stocks to buy bitcoin. I think since bitcoin was created until now it has not been influenced by the political and social issues of a country.

You clearly didn't know what happened at the time this thread made, it was June 19th, bitcoin price was $9000 and bitcoin reached $12,984 in June 27th, don't you see the correlation?
Bitcoin price did affect by the political and social issues of a country, especially some major countries, remember when China banned bitcoin exchange and bitcoin miners, the price declined immediately.
Or when the market speculates SEC might accept bitcoin ETF, the price increase rapidly.
Or when Japan regulated bitcoin as a means of payment, that was a great day for bitcoin in the market.

Afnan_faizah

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The protesters were afraid of being recognized by the central entity so young protesters refuse to use a centralized form of payment. This increase trading volume of cryptocurrency - hongkong dollars pair. The price of bitcoin on tidebit ever reach $11400. Atleast there are 39 crypto ATMs and pundi X putting point-of-sale device in local restaurants, it is very good because it ease people there to spend bitcoin and altcoin.

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Hong Kong has its best chance in arguing its isolation from China mainland via its wealth creation benefits to the communist party mainland. They should be pragmatic in this demands as unfortunately they are the David to the Goliath in this story and a mythical outcome is unlikely.
Hong Kong of course can contribute alot by its standing international as a finance centre and gateway to Asia for the western world, they have a heritage which would be foolish to discard and I dont actually believe the communists will destroy but they certainly intend to control and of course undermine any idea of democracy in this population.
If we believe democracy, freedom and capitalism are strengths then Hong Kong must play the long game, the mainland has its own problems and I would not seek to be the focus of their attentions any more then nessecery. I dont think they have alot to gain from this fight though I appreciate their desire to win freedom, the realistic aim is to be placed alongside other territories such as Macau.

doomloop

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Hong Kong and China war can lead possible bitcoin in Hong Kong with cases of cash out money for people Hong Kong will disable, they will use moment to invest in bitcoin make bitcoin up, Hong Kong want to be independent country without take their economic, law and business by China, if war Hong Kong will be best country want to adopt bitcoin.

Hong Kong like many other countries wants to have complete independence whether it is economical or geographical. If china wants to put bitcoin to depths of defamation, they have to create their own currency in order to introduce it as competitor of bitcoin in the world of crypto market. But circumstances show that this won’t be possible.

asus09

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Quote from: maydna on June 17, 2019, 02:15:39 AM

But the possibility for that war to happen will be wide open since Hong Kong and China will have a different opinion. They will decide for their own good, and I don't think that they will think about their people from using cryptocurrency.

And even if the war is really happening in the future, that will help bitcoin to increase the popularity on that country because people will try to search the other way to keep their wealth on other things. And perhaps, they will use bitcoin to save their money, and they will use the bitcoin in the other country which they can free to use bitcoin.

I guess that will attract a demo in that country if China still want to ban cryptocurrency and the worst is we will go to see an economic crisis in Asia because China is a larger country which still supplies their products to all countries. But that will be the worst scenario, and we hope that it will not happen because people will suffer from those situations.

Hong Kong and China have not good situation today because Hong Kong protest with many law always benefit to China, maybe is not have protest with cryptocurrency and Hong Kong citizen only want to get freedom and left China as their country, Hong Kong want to stand with their self and not have interfere from China about their law and the Hong Kong government, last more than 20 days Hong Kong people still fight with their police man to get their freedom.

monineklutak

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Quote from: blckhawk on October 14, 2019, 11:39:40 PM

There's a chance it would boost the market but let's still hope the situation would be better for Hong Kong and China. Crypto would be a viable option to store assets, however they could lose a lot, but the good thing is it's free from China's strict control since it's decentralized. However, I'm not sure of people in Hong Kong are aware of these cryptocurrencies and if they do, if it would bring that much impact to the current prices.

news about china has been around since 2017, before finally Bitcoin to $ 17000, it was very surprising,
some people and experts say that the one who manipulated the price was China, but it is natural,
if China issued another shocking news about bitcoin, this would be new beginning

blckhawk

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There's a chance it would boost the market but let's still hope the situation would be better for Hong Kong and China. Crypto would be a viable option to store assets, however they could lose a lot, but the good thing is it's free from China's strict control since it's decentralized. However, I'm not sure of people in Hong Kong are aware of these cryptocurrencies and if they do, if it would bring that much impact to the current prices.

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from the existence of a trader war like that is likely to have a direct influence on the conditions of the cryptocurrency market because there will definitely be a trader who uses cryptocurrency to make shipments and withdrawal of his assets for a trade war, usually the effect on cryptocurrency is the price of the coin at the place of exchange will fall.

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I dont think China is very patient but they should respect the money that HK handles and has potential to benefit Chinese rule with via taxes and trade. Doesn't seem that smart to me how China wants to impose legal controls over HK citizens so soon. It is a big clash of cultures though, China gives no rights to citizens to exist outside party lines and HK is having any individuals democratic standing wiped out.

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people fall into chaos

The chaos is inevitable, every economic system is challenged by various factors with corruption and fraud naturally reoccurring. Its really the job of any good system to do well regardless of the challenges. I agree Bitcoin is not a benefactor of chaos, it should be the people who are disadvantaged and find Bitcoin to be helpful to them not so much vice versa. If BTC isnt useful to normal people rich or poor it will not continue imo

target

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Quote from: bryant.coleman on October 13, 2019, 11:00:33 PM

Quote from: ecnalubma on October 08, 2019, 09:37:33 PM

I hope that their issues will be resolve, If these violence will continue their economy will suffer due to the fact that Hong Kong is also a financial centre. Businesses will be affected and people are fearful but there’s a slight possibility that rich people will use crypto to transfer funds and stay out if trouble.

I have checked the transaction volumes from Hong Kong, and as of now there is nothing solid to indicate that there is a rise in demand. I guess the rich have better and less volatile options when compared to Bitcoin. In fact Hong Kong is being regarded as one of the tax havens, and therefore the oligarchs may not be that open to the idea of transferring their funds out of the territory. There is no immediate requirement for them to do that as well. The agitations and all are going to die down within a few months, if not weeks. China is not stupid enough to send its army to formally annex Hong Kong. For China, it is more beneficial if Hong Kong remains as a separate economy, where the Westerners are more comfortable in investing their money.

China will just wait after all Hongkong is not going anywhere. It will be for China when time comes because its waht the treaty dictates. Those protesters will suffer later in the hands of the real Hongkongers when they finally realize that its them that loses this game. The people of Hongkong will retaliate to these protesters since their business there are not moving forward because of them.

It will be a gigantic humiliation for China to give in but China will survive without Hongkong and they can just wait for that 2047. I dont think the westerners are going to move elsewhere afterthat.

bryant.coleman

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Quote from: ecnalubma on October 08, 2019, 09:37:33 PM

I hope that their issues will be resolve, If these violence will continue their economy will suffer due to the fact that Hong Kong is also a financial centre. Businesses will be affected and people are fearful but there’s a slight possibility that rich people will use crypto to transfer funds and stay out if trouble.

I have checked the transaction volumes from Hong Kong, and as of now there is nothing solid to indicate that there is a rise in demand. I guess the rich have better and less volatile options when compared to Bitcoin. In fact Hong Kong is being regarded as one of the tax havens, and therefore the oligarchs may not be that open to the idea of transferring their funds out of the territory. There is no immediate requirement for them to do that as well. The agitations and all are going to die down within a few months, if not weeks. China is not stupid enough to send its army to formally annex Hong Kong. For China, it is more beneficial if Hong Kong remains as a separate economy, where the Westerners are more comfortable in investing their money.

DaftAjax

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Quote from: alyssa85 on October 13, 2019, 05:33:58 AM

The continuing unrest is definitely a support for both bitcoin and gold.

Definitely its a support for assets like Bitcoin and Gold.

Should we be happy about it? People in Hong Kong are helping Bitcoin (somehow), but is it worth it? Should we be satisfied that people fall into chaos(?) that out of desperation they would invest/exchange their wealth to Bitcoin?

Bitcoin is revolutionary, so should we. We shouldn't be happy/satisfied in this messed up situation. I'd rather see Bitcoin's market value went up because of investors investing with their businesses or accepting Bitcoin through their businesses than out of desperation and conflicts.

alyssa85

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Binance is availale in Hong Kong, isn't it?

So it should be interesting to see whether they're seeing an increase in deposits from people in Hong Kong (or even people approaching them to do large over-the-counter purchases).

The continuing unrest is definitely a support for both bitcoin and gold.

EdvinZ

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Quote from: SquallLeonhart on October 13, 2019, 04:14:44 AM

Based on the view of the OP, it is possible that the war actually have some positive effect on the value of bitcoin overtime, people of Hong Kong who happens to believe in bitcoin would tend to move their money out of china, and china seeing this may frustrate all their effort if it has to go true traditional banks.

But, with cryptocurrency, they can easily move their funds from china anonymously and get it back at Hong Kong and you know that Hong Kong is one of the Asian country that has been supportive in cryptocurrency and we can see during a protest of Hong Kong recently where they even carried placards to be advertising bitcoin while the protest was going on, this is still one of the ways that they are effectively advertising bitcoin without them knowing.

Yes, anonymous cryptocurrencies are a great way for citizens to withdraw from a country that for some reason begins to infringe on the rights of citizens, their legitimate money. It is good that in our time there is such a possibility, because otherwise people would remain hostages of the situation and either they would have to live in the region of the conflict, or to part with their possessions.

SquallLeonhart

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Based on the view of the OP, it is possible that the war actually have some positive effect on the value of bitcoin overtime, people of Hong Kong who happens to believe in bitcoin would tend to move their money out of china, and china seeing this may frustrate all their effort if it has to go true traditional banks.

But, with cryptocurrency, they can easily move their funds from china anonymously and get it back at Hong Kong and you know that Hong Kong is one of the Asian country that has been supportive in cryptocurrency and we can see during a protest of Hong Kong recently where they even carried placards to be advertising bitcoin while the protest was going on, this is still one of the ways that they are effectively advertising bitcoin without them knowing.

Reatim

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In any yeah it can be but in totality?hongkong is a goofy place for crypto while China is not and with this maybe investors from hongkong will focus in crypto as more safer than banks but let’s remember that cryptocurrency was not that adopted by many people so the chance of being in crypto from banks is slower to happen

Quote from: ecnalubma on October 08, 2019, 09:37:33 PM

I hope that their issues will be resolve, If these violence will continue their economy will suffer due to the fact that Hong Kong is also a financial centre. Businesses will be affected and people are fearful but there’s a slight possibility that rich people will use crypto to transfer funds and stay out if trouble.

The most affected is hongkong because they are a small government while China is large the economy of China wasn’t effected by this brawl but hongkong are so let’s hope it will be resolve sooner

jmigdlc99

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Quote from: goaldigger on June 17, 2019, 01:23:26 AM

We all know that China doesnt want to be involved on cryptocurrency for some reasons but after whats happening to China and Hong Kong, it seems like bitcoin would be the main option.

The two countries are currently under stress because People in Hong Kong vehemently oppose a proposed bill, which would give authorities the power to deport those suspected of crimes to mainland China.

Hong Kong people obviously engaged in a rally for them to change the leader's mind. With this, the people, most specially rich ones wanted to withdraw all their money in China or makes it anonymous that's why they are eyeing on bitcoin as the main option for transferring of wealth.

We dont want to have this kind of war between people or countries. Even though it will be a good way of boosting bitcoin, i hope it will not end in that way and resolve the problem of both countries. Its still not safe there till now. Lets pray for the people's safety.

Here's the full article
https://bitcoinist.com/hong-kong-protest-china-bitcoin-assets-offshore/

Although i don't believe the issue with Hong Kong and China is not so much a financial hot topic compared to Zimbabwe's inflation crisis, it could still be an opportunity to see bitcoin and cryptocurrency adoption rates to rise.

I'm no expert but it's easy to imagine that political turmoil can lead to devaluation of a country's economy so people who will seek to preserve value of their money will transfer funds into foreign funds or better yet bitcoin.

DaftAjax

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Quote from: ecnalubma on October 08, 2019, 09:37:33 PM

I hope that their issues will be resolve, If these violence will continue their economy will suffer due to the fact that Hong Kong is also a financial centre. Businesses will be affected and people are fearful but there’s a slight possibility that rich people will use crypto to transfer funds and stay out if trouble.

People are already using cryptocurrency to secure their money, but let's not hope it'll lead to "money-laundering" it might result in a bad impression to Bitcoin and other altcoins.

Yes, that's what I've been saying. China is a powerful country, many countries are in trade with them, and Hong Kong is a major city that provides a fairly large income reckon. So, not resolving this problem could affect many businesses inside and outside the country.

Quote from: target on October 08, 2019, 02:41:03 PM

There were news those protesters shutting down the airports and metro stations are not even Hongkongers, this must be really outsiders.

By outsiders, you mean terrorists(?), I don't want to lit another fire, this is pure speculation but as time progress on it's becoming more and more of a "staged protests". I'm not saying that people from Hong Kong aren't genuine, but what if the said "terrorists" are to blame on igniting this incident, and people from this city are just releasing their built-up concerns just now.

ecnalubma

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I hope that their issues will be resolve, If these violence will continue their economy will suffer due to the fact that Hong Kong is also a financial centre. Businesses will be affected and people are fearful but there’s a slight possibility that rich people will use crypto to transfer funds and stay out if trouble.

target

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Quote from: Sithara007 on October 08, 2019, 01:20:12 AM

Quote from: target on October 07, 2019, 12:44:51 PM

Its True. China ranks better in many way.

Mainland will insist in this extradition treaty all the more because of what is happening right now. This is the problem created when a region of a country earns so much that they think they can fight back. The mainland is trying to put sanctions to those criminals not all Hongkongers.

If Hongkongers are going to resort to BTC, they can always do that. They were doing it before this rallies were happening, they were doing it 5 years ago.

Obviously there have been provocations and the involvement of the western media is not helping things any further. Ever since the handover of Hong Kong occurred on 1997, the economy of the territory has seen a rapid growth. It would not have happened without the active support from the PRC government. Now the protesters are trying to destroy the same economy, that was built during the last 22 years by disrupting vehicle traffic and shutting down the airports and metro stations. Extradition treaty was just an excuse. The protests are continuing even after the bill was shelved by the Hong Kong administration. And this proves that the protesters are trying to achieve something different.

Western media is the worse they have been trying to discredit China. We in China knew better. China wouldn't care if the people there are going to destroy the infrastructures, they are not going anywhere but China. They'd end up in Shenzhen or Shanghai no matter what. Whatever they wanna achieve here, its failing. There were news those protesters shutting down the airports and metro stations are not even Hongkongers, this must be really outsiders.

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