Hong kong and China war can lead to possible Bitcoin popularity - page 2.

jakoylantern

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Quote from: revenant2017 on October 08, 2019, 01:06:00 PM

Quote

I've heard some of hongkong's rich people also leaving the country

I Can confirm this. Actually most from the Hongkong are moving to other parts of South East Asia. Vietnam, Thailand, Indonesia, Singapore, Philippines etc. My Relatives who work from hongkong has been moved out to hongkong due to the worsening incident day by day.

Yes, I agree with what you said; my relatives are also moving out in Hongkong. Must take note that not only the rich people but the other mid-range ppl and especially the foreign workers that don't want to trap in by the war and conflicts of the two nations.

Chainsmokers

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Quote from: JeffBrad12 on October 08, 2019, 12:40:24 PM

Quote from: Chainsmokers on October 08, 2019, 12:31:11 PM

Quote from: DaftAjax on October 08, 2019, 11:32:34 AM

Can we get detailed information about this? I'm intrigued by why does a Government no less would do such a thing to its citizens(?) Oh I'll take a guess, "Communism"(?)

Take a look at the regulations recently issued by the Hong Kong government regarding protesters https://www.theguardian.com/world/2019/oct/07/hong-kong-protests-charges-anti-face-mask-laws
fask mask ban! can you believe it? I think the Hong Kong government is doing various ways to stop this wave of protests. but that step didn't seem to work, the wave of protests grew more bigger!

Well you can't extinguish a fire by adding some more fuel it's as expected if the government is more harsh to the protesters it will definitely grew bigger.

Decision that actually make the situation become more worse, who knows how long this situation will occur. I am sure this will have an impact on the global economy if this demonstration continues in Hong Kong

revenant2017

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Quote

I've heard some of hongkong's rich people also leaving the country

I Can confirm this. Actually most from the Hongkong are moving to other parts of South East Asia. Vietnam, Thailand, Indonesia, Singapore, Philippines etc. My Relatives who work from hongkong has been moved out to hongkong due to the worsening incident day by day.

JeffBrad12

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Quote from: Chainsmokers on October 08, 2019, 12:31:11 PM

Quote from: DaftAjax on October 08, 2019, 11:32:34 AM

Can we get detailed information about this? I'm intrigued by why does a Government no less would do such a thing to its citizens(?) Oh I'll take a guess, "Communism"(?)

Take a look at the regulations recently issued by the Hong Kong government regarding protesters https://www.theguardian.com/world/2019/oct/07/hong-kong-protests-charges-anti-face-mask-laws
fask mask ban! can you believe it? I think the Hong Kong government is doing various ways to stop this wave of protests. but that step didn't seem to work, the wave of protests grew more bigger!

Well you can't extinguish a fire by adding some more fuel it's as expected if the government is more harsh to the protesters it will definitely grew bigger.

Quote from: Arsenyo on October 08, 2019, 11:22:51 AM

Rich people want to launder their honestly earned money with the help of bitcoins, this is expected. It is bad of course that everything is not calm between them, I hope everything will calm down without the use of excessive aggression. Nevertheless, we have nothing to do with it, except following the news.

I've heard some of hongkong's rich people also leaving the country to migrate into some of europe country by investing there and get some kind of permanent residence but I guess bitcoin is also one of the option when it comes to saving money. i can personally justify it if the danger of chaotic economy is near.

Chainsmokers

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Quote from: DaftAjax on October 08, 2019, 11:32:34 AM

Can we get detailed information about this? I'm intrigued by why does a Government no less would do such a thing to its citizens(?) Oh I'll take a guess, "Communism"(?)

Take a look at the regulations recently issued by the Hong Kong government regarding protesters https://www.theguardian.com/world/2019/oct/07/hong-kong-protests-charges-anti-face-mask-laws
fask mask ban! can you believe it? I think the Hong Kong government is doing various ways to stop this wave of protests. but that step didn't seem to work, the wave of protests grew more bigger!

DaftAjax

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Quote from: Shinpako09 on October 08, 2019, 01:41:39 AM

~snip...we should be feeling the effect by now. Well, I'd rather chose their problem to be fix rather than the price to go up, that's kind of selfish and greed for money if I wish it to happen.

We shouldn't expect a major change in the price over something like this, sure there could be a minimal increase, but that's it. A single city wouldn't make that much of an increase. And I'm certain that not "all/majority" of the citizens of Hong Kong choose Bitcoin to secure their money, there are still traditional investments/assets out there such as Gold and Silver.

I agree I'd rather hope for this dispute to be resolved, than hoping an increase in Bitcoin's market price. Do people realize how many countries are trading with China(?)

Quote from: Chainsmokers on October 08, 2019, 10:21:32 AM

This is a good decision to secure their funds to Bitcoin from the people in Hong Kong. rather than holding their money in the bank at great risk because the Hong Kong government began to pose several threats to them. not only the freezing of accounts, the violence against the demonstrators was also carried out by the authorities.

Can we get detailed information about this? I'm intrigued by why does a Government no less would do such a thing to its citizens(?) Oh I'll take a guess, "Communism"(?)

Arsenyo

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Rich people want to launder their honestly earned money with the help of bitcoins, this is expected. It is bad of course that everything is not calm between them, I hope everything will calm down without the use of excessive aggression. Nevertheless, we have nothing to do with it, except following the news.

Chainsmokers

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Quote from: clickerz on October 08, 2019, 05:17:29 AM

Quote from: Shinpako09 on October 08, 2019, 01:41:39 AM

The thread was posted for nearly 4 months now and again the price goes the other way like the usual instead of what we are expecting based on prediction. The price goes off until now it means most of Hong Kong nationals didn't do converted their assets into btc. Sure thing if they do, we should be feeling the effect by now. Well, I'd rather chose their problem to be fix rather than the price to go up, that's kind of selfish and greed for money if I wish it to happen.

In overall I think the effect is minimal. But there is an increase in interests in Hong Kong nationals transacting i cryptocurrency. They opted to use bitcoin, now that the situation in teir contry are becoming worst where banks are being burnt, no money from ATMs etc. Below is link for the said news.

Oct. 7,2019 : Hong Kong Citizens Struggle to Withdraw Cash in “Bank Run”: Bitcoin Fixes This

This is a good decision to secure their funds to Bitcoin from the people in Hong Kong. rather than holding their money in the bank at great risk because the Hong Kong government began to pose several threats to them. not only the freezing of accounts, the violence against the demonstrators was also carried out by the authorities.

SummerBliss

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The cold war was started months ago between the two and still there is no clear sign on the postive effect on cryptocurrency as China has already banned all the crypto related transaction in their nation and Hong kong people have not shown much greater interest in cryptocurrencies and opting traditional way of payments so far.The predictions are that prices will still go down below $6500 so what are we actually talking about? But we can hope that large population will covert their savings into btc and other coins which may push prices higher again.

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Quote from: Shinpako09 on October 08, 2019, 01:41:39 AM

The thread was posted for nearly 4 months now and again the price goes the other way like the usual instead of what we are expecting based on prediction. The price goes off until now it means most of Hong Kong nationals didn't do converted their assets into btc. Sure thing if they do, we should be feeling the effect by now. Well, I'd rather chose their problem to be fix rather than the price to go up, that's kind of selfish and greed for money if I wish it to happen.

In overall I think the effect is minimal. But there is an increase in interests in Hong Kong nationals transacting i cryptocurrency. They opted to use bitcoin, now that the situation in teir contry are becoming worst where banks are being burnt, no money from ATMs etc. Below is link for the said news.

Oct. 7,2019 : Hong Kong Citizens Struggle to Withdraw Cash in “Bank Run”: Bitcoin Fixes This

Shinpako09

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The thread was posted for nearly 4 months now and again the price goes the other way like the usual instead of what we are expecting based on prediction. The price goes off until now it means most of Hong Kong nationals didn't do converted their assets into btc. Sure thing if they do, we should be feeling the effect by now. Well, I'd rather chose their problem to be fix rather than the price to go up, that's kind of selfish and greed for money if I wish it to happen.

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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.

Btcvilla

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Hong Kong have face with really trouble their country condition right now, many people have cash out all their money in the bank because afraid of rule for Hong Kong bank member want to freeze, one side if many people cash out money in the bank and want to buy bitcoin I think give big effect for bitcoin on higher price.

doomloop

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Quote from: DaftAjax on October 07, 2019, 08:46:12 AM

Quote from: ice098 on October 06, 2019, 11:06:08 AM

Yes, if bitcoin will become part of the issue it will make a bad image for bitcoin. It will only provoke china to ban bitcoin on its country, if bitcoin will be introduce to china in a good manner and it will be legalize to that country, it wi be a benefit for all of us, more and more people will gonna notice bitcoin. I hope bitcoin will be go mainstream in a good image.

LOL, where is this based on?

No, it will not make a bad image to Bitcoin at all. And even if they band Bitcoin in China(?), Chinese who have/invested-in Bitcoin will just go to another country and access it there. If I'm not wrong China already did ban cryptocurrency.

No, it will not benefit us just because something like this happened. It's already mainstream, FYI.

Quote from: teosanru on October 06, 2019, 09:37:19 AM

So best option would be cryptocurrencies. But problem here is that this could lead to a bad image of bitcoin among the General Public as it could be regarded as a money laundering asset which governments might not really like.

I think this would only be good for people who already have Bitcoin. And for those who don't, they will likely choose the traditional method such as investing in gold, silver.

Actually there are already cases that the public considers Bitcoin as money laundering. Because of Anonymity, politicians tend to transfer "illegal" money to their accounts. And since blockchain is untraceable investigators can't find evidence of it, but only theories.

Makes pretty much sense to me. The whole reason being bitcoin getting banned or restricted from a country is just that the governments are afraid of losing control over masses economy and this is true. Bitcoin comes under no one’s control. If someone wants to enjoy total freedom over his money, he should start dealing in bitcoin. Moreover, not China nor Hong Kong or any other country can hurt bitcoin.

lab rat hoax

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This is a useful article full of really logical predictions, and I agree with most of the ideas in the article. Of course we don't want chaos and war, we don't want people to get hurt, but it's true that such things are positive for bitcoin prices. I wish it didn't have to be like this. I hope people don't get hurt any more, but bitcoin is an asset that can rise in price thanks to war and chaos, because in such cases people look for a safer port from the bank for their money. bitcoin and crypto coins are also a very safe harbor during such situations

target

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Quote from: Sithara007 on October 06, 2019, 04:19:18 AM

Quote from: abhiseshakana on October 04, 2019, 12:00:34 PM

We can refer to this article to explain point number one.
https://www.businessinsider.sg/economist-intelligence-unit-2017-democracy-index-worst-countries-2018-1/?r=US&IR=T

Compared to other authoritarian countries, China is still better. Although a one-party state, China is also democratic, but democratic in the style of China. Like Western countries, China also adheres to the political trias, namely the division of political tasks between the executive, legislative and judiciary.

The highest power in China is held by the National People's Congress as a legislative body whose delegates are elected from each province. Those chosen as members of the delegation are people who have good character and morals. So to become a delegation requires a long struggle, dedication, proof and achievement.

For the third point, it needs to be understood that from the beginning China and Hong Kong agreed to adopt a two-state system. But over time, due to conflicts of interest of each party a dispute eventually arose, many political dissidents hid in Hong Kong and undermined the Chinese government from Hong Kong. It should be understood that not all Chinese are bad, there are communists who are nationalist and honest, Alibaba founder Jack Ma is also a member of the communist party.

Even when compared to the democratic countries, China ranks much better. Democracy is suitable only in countries where the population is educated and homogeneous. It won't be successful in countries where the population is illiterate and heterogeneous. My country (India) is being regarded as the largest democracy in the world. But the democracy here is a sham, with most of the politicians corrupt to the core, surviving only on ethnic loyalties.

One thing that I like about China the most is that they have a no-tolerance policy towards the corrupt. Anyone who is caught for a major corruption scandal is directly sent to the firing squad. Now compare this to the situation here, where criminals who had raped and killed little children are enjoying their life in jail on tax payer money, although they were sentenced to death many years back. There is an unofficial moratorium here on death penalty and no one has been executed for the last one decade.

Even the elected government has very little power. Most of their decisions are getting overturned by the judiciary, where most of the judges are appointed on the basis of family connections rather than merit.

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.

DaftAjax

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Quote from: ice098 on October 06, 2019, 11:06:08 AM

Yes, if bitcoin will become part of the issue it will make a bad image for bitcoin. It will only provoke china to ban bitcoin on its country, if bitcoin will be introduce to china in a good manner and it will be legalize to that country, it wi be a benefit for all of us, more and more people will gonna notice bitcoin. I hope bitcoin will be go mainstream in a good image.

LOL, where is this based on?

No, it will not make a bad image to Bitcoin at all. And even if they banned Bitcoin in China(?), Chinese who have/invested-in Bitcoin will just go to another country and access it there. If I'm not wrong China already did ban cryptocurrency.

No, it will not benefit us just because something like this happened. It's already mainstream, FYI.

Quote from: teosanru on October 06, 2019, 09:37:19 AM

So best option would be cryptocurrencies. But problem here is that this could lead to a bad image of bitcoin among the General Public as it could be regarded as a money laundering asset which governments might not really like.

I think this would only be good for people who already have Bitcoin. And for those who don't, they will likely choose the traditional method such as investing in gold, silver.

Actually there are already cases that the public considers Bitcoin as money laundering. Because of Anonymity, politicians tend to transfer "illegal" money to their accounts. And since blockchain is untraceable investigators can't find evidence of it, but only theories.

JeffBrad12

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Quote from: Xxmodded on October 04, 2019, 08:24:56 AM

Hong Kong and China have faced war more than three weeks with big effect for Hong Kong economic, the Hong Kong people want to have their own law and never interrupt by China, but do not have anything effect for bitcoin because both country China and Hong Kong have banned bitcoin last two year and do not re submit for accepting bitcoin back.

Not exactly banned tho in hongkong they are just making the rules a lot stricter than ever because they have no control over the situation in the crypto market. as I've seen there are plenty of developers residing there therefore it will kinda be hard for the local government to ban some of their source of income I guess which is the funding through some sort of ICO or IEO but in china it seems that bitcoin just have no hope there.
However if bitcoin is being used to launder money of hongkong's citizens that'd be a bad news imagine what will all those government says about bitcoin when the war comes to an end.

ice098

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Quote from: ivakar on October 03, 2019, 02:20:00 AM

Quote from: Sithara007 on October 02, 2019, 11:06:43 AM

I would regard Hong Kong as a separate nation, although they don't have an army of their own (the defense is looked after by the People's Liberation Army Hong Kong Garrison). They have their own separate currency, flag and national anthem. The relation between China and Hong Kong is similar to the one between the United Kingdom and Australia. Elizabeth II (Queen of the United Kingdom) is the queen of Australia as well. But everyone regard Australia as a separate nation. The same can be said about Canada, New Zealand and more than a dozen Caribbean nations.

Please correct me if I am wrong.

no, this is now like one country - two systems.. in some ways Hong Kong is independent, but in other ways it is just a part of China.
so it is not near the same as UK and Australia. and I guess within short time China will include HK completely

but back to the topic )) I think in order to be clear crypto state, bitcoin image should avoided all that political or criminal activities..

Yes, if bitcoin will become part of the issue it will make a bad image for bitcoin. It will only provoke china to ban bitcoin on its country, if bitcoin will be introduce to china in a good manner and it will be legalize to that country, it wi be a benefit for all of us, more and more people will gonna notice bitcoin. I hope bitcoin will be go mainstream in a good image.

teosanru

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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/

I was reading about this the other day and I feel like this is actually a great thing for bitcoin. In general there two ways practiced by wealthy businesses to launder their money. First are some shell companies in Tax Heavens where their are no taxes on Investments are neither their are any restrictions regarding such money. While second is cash. Due to many inter govt. treaty first one is starting to become a pretty bad idea while the second one was never a good idea in the first place. So best option would be cryptocurrencies. But problem here is that this could lead to a bad image of bitcoin among the General Public as it could be regarded as a money laundering asset which governments might not really like.

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