Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive - page 2.

jtraverso

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Quote from: cheezcarls on December 19, 2019, 02:33:50 PM

The Hong Kong Police, working with China, has frozen a major fund that was intended for arrested and injured protestors. The case for financial freedom with Bitcoin has never been more clear.

Bitcoin’s popularity always seems to spike when people’s wallets are directly affected. Throughout 2019, we’ve seen multiple fears of bank runs and ATMs running out of cash during crises. In October, BeInCrypto reported that Chilean ATMs were reportedly locked during a state of emergency. That same month, Bitcoin trading volume ballooned as Hong Kong residents found themselves locked out of ATMs.

Source link here

Now that their funds were locked out, I think it's time for them to take Bitcoin seriously.

Storing them in banks is such a bad idea, especially if they are using it for protests. If they could have stored it in Bitcoin, the police and government cannot stop them as they do not own or control the blockchain technology.

Bitcoin took out the third party or intermediary in peer-to-peer transactions, and this is what Hongkong protesters should need if they want to keep their funds safe from being frozen.

This is Bitcoin's time now. We're not just focusing on the price itself, but how can it be used without the risk of having our funds frozen.

Bitcoin is an independent fund. Sometimes the government uses its power to deprive people of freedom and values. Bitcoin is protected from government exposure and in difficult times this asset could help people a lot.

South Park

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Quote from: cheezcarls on December 19, 2019, 02:33:50 PM

The Hong Kong Police, working with China, has frozen a major fund that was intended for arrested and injured protestors. The case for financial freedom with Bitcoin has never been more clear.

Bitcoin’s popularity always seems to spike when people’s wallets are directly affected. Throughout 2019, we’ve seen multiple fears of bank runs and ATMs running out of cash during crises. In October, BeInCrypto reported that Chilean ATMs were reportedly locked during a state of emergency. That same month, Bitcoin trading volume ballooned as Hong Kong residents found themselves locked out of ATMs.

Source link here

Now that their funds were locked out, I think it's time for them to take Bitcoin seriously.

Storing them in banks is such a bad idea, especially if they are using it for protests. If they could have stored it in Bitcoin, the police and government cannot stop them as they do not own or control the blockchain technology.

Bitcoin took out the third party or intermediary in peer-to-peer transactions, and this is what Hongkong protesters should need if they want to keep their funds safe from being frozen.

This is Bitcoin's time now. We're not just focusing on the price itself, but how can it be used without the risk of having our funds frozen.

If this doesn't make people understand why bitcoin is necessary then nothing will do it, bitcoin is not only a great currency if necessary it can be used as a tool to resist tyrannical governments, and it is really not a surprise why most governments around the world view bitcoin with suspicious eyes because they want to have complete control over what their citizens can do with their money and being able to silence them and steal everything from them with just a few clicks on their computers and bitcoin does not allow that.

pixie85

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Quote from: kotik085 on December 26, 2019, 11:15:02 AM

In China, Hong Kong has sulfur in criminal cases, especially in money laundering. Thus, there is control by the authorities in order to prevent cryptocurrency and blockchain. It is negative and just the same, it makes a fuss about bitcoin to be recognized.

This is a stupid explanation because the 1% of BTC that is involved in money laundering cannot be the reason to block everything. Money laundering via Bitcoin is a niche because there are much more private altcoins in the space. I also hate it when altcoins and Bitcoin are all put in one basket by the governments. They 're only showing that they have no idea how this space is built.

darkangel11

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Quote from: makishart on December 19, 2019, 05:36:40 PM

I wonder how people could face the internet shutdown if they really want to use bitcoin for temporary safehaven because the government will surely taking an action to prevent such thing from happening and to note that the exchanges there might be controlled by the government so the hongkong citizens will be having a hard time cashing out once they need the money except selling it overseas.

There will be no global Internet shutdown. With Bitcoin all you can face is a local shutdown like they're doing in North Korea switching from worldwide web to their local web.
This can work only in countries that can stop you from leaving. In other countries you are still able to move outside their borders and have access to your money there.

kotik085

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In China, Hong Kong has sulfur in criminal cases, especially in money laundering. Thus, there is control by the authorities in order to prevent cryptocurrency and blockchain. It is negative and just the same, it makes a fuss about bitcoin to be recognized.

kryptqnick

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Quote from: cheezcarls on December 19, 2019, 02:33:50 PM

The Hong Kong Police, working with China, has frozen a major fund that was intended for arrested and injured protestors. The case for financial freedom with Bitcoin has never been more clear.

Bitcoin’s popularity always seems to spike when people’s wallets are directly affected. Throughout 2019, we’ve seen multiple fears of bank runs and ATMs running out of cash during crises. In October, BeInCrypto reported that Chilean ATMs were reportedly locked during a state of emergency. That same month, Bitcoin trading volume ballooned as Hong Kong residents found themselves locked out of ATMs.

Source link here

Now that their funds were locked out, I think it's time for them to take Bitcoin seriously.

Storing them in banks is such a bad idea, especially if they are using it for protests. If they could have stored it in Bitcoin, the police and government cannot stop them as they do not own or control the blockchain technology.

Bitcoin took out the third party or intermediary in peer-to-peer transactions, and this is what Hongkong protesters should need if they want to keep their funds safe from being frozen.

This is Bitcoin's time now. We're not just focusing on the price itself, but how can it be used without the risk of having our funds frozen.

I've seen various articles about Hong-Kong protests and Bitcoin, and it seems that it's at least unclear whether the two are directly related and whether it's the protesters actively using Bitcoin. I mean, it would make sense for people who want to keep their money safe there, but such thoughts might be present in the minds of people in Hong-Kong, living in the uncertainty of the situation, rather than protesting, as well. And where there's some sort of chaos and war, there are always people finding a way to profit from it, so the traders of Hong-Kong might be doing that.
And speaking of it being Bitcoin's time, there's also a solid problem. If a person wants to use the money for something in Hong-Kong, not to just secure some savings for the future, then the problem with Bitcoin is that it's probably not accepted as payment in most places, so buying something with it can be troublesome.

Oneandpure

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What is it plustoken platform, why have connection with ethereum and crypto. Do you know what connected between plustoken and bitcoin or altcoin and how come can make ethereum and bitcoin will be lower price, I am still not hear with plustoken because until your publish site I am not finding some investor use plustoken as their investment destination.

tsaroz

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This would associate bitcoin with freedom. Which it really is.
The world of crypto coin and blockchain based social networks would lead to new waves of revolutions around the world.
They would create a new society based on democracy, transparency and personal freedom.

BeManga

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CryptoDirectories.com

Quote from: cheezcarls on December 19, 2019, 02:33:50 PM

The Hong Kong Police, working with China, has frozen a major fund that was intended for arrested and injured protestors. The case for financial freedom with Bitcoin has never been more clear.

Bitcoin’s popularity always seems to spike when people’s wallets are directly affected. Throughout 2019, we’ve seen multiple fears of bank runs and ATMs running out of cash during crises. In October, BeInCrypto reported that Chilean ATMs were reportedly locked during a state of emergency. That same month, Bitcoin trading volume ballooned as Hong Kong residents found themselves locked out of ATMs.

Source link here

Now that their funds were locked out, I think it's time for them to take Bitcoin seriously.

Storing them in banks is such a bad idea, especially if they are using it for protests. If they could have stored it in Bitcoin, the police and government cannot stop them as they do not own or control the blockchain technology.

Bitcoin took out the third party or intermediary in peer-to-peer transactions, and this is what Hongkong protesters should need if they want to keep their funds safe from being frozen.

This is Bitcoin's time now. We're not just focusing on the price itself, but how can it be used without the risk of having our funds frozen.

this is also one of the reasons why i like bitcoin because if you put money in the bank it feels like its not your own money
bank can freeze and lock your account anytime there is also limit of how much you can spend or withdraw with your own money
while using bitcoin you can spend, trade, encash or even invest without limit

alyssa85

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Quote from: ?? on ??

It's good news, but soon the protester need to :
1. Buy/sell Bitcoin from exchange outside HK/China
2. Finding places which accept Bitcoin, if exchange Bitcoin and fiat become more difficult.

People in Hong Kong are still free to travel outside Hong Kong (unlike people in China). So they can easily make a trip to say Korea and exchange their bitcoins there. The issue is getting a dollar bank account outside of Hong Kong where you can then deposit the money.

buwaytress

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Bitcoin becomes attractive... hasn't Bitcoin already become attractive in HK long before this? Long before the extradition bill was withdrawn? I mean, people were already using BTC to avoid surveillance (police were surveilling people buying even public transport tickets to try and identify protestors).

News like this is getting so little attention when it's so important. But good. Let people learn to use Bitcoin, and then see what the state can do about it (nothing).

squatter

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STOP SNITCHIN'

Quote from: meanwords on December 19, 2019, 08:20:15 PM

I don't see any flaws in using Bitcoin for their agenda. I mean if they use Bitcoin in order to funds their activities, their government won't be able to do anything about it

The government won't be able to freeze their bitcoins like a bank account, but the question is: How easily can they use those bitcoins? One Hong Kong protestor remarked that Bitcoin is "mostly useful for receiving donations from abroad that don’t require prompt liquidity." It's a good way for foreigners to support protestors with donations, but they can't necessarily use the money immediately or easily, not to mention the volatility aspect. On the ground, they need more widely accepted mediums that don't depend on the internet, like cash.

Murat

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If this news is really authentic then they must sell their cryptocurrency and Bitcoin as early as possible otherwise those can be out of control, it's the best time to raise the voice against all of the negative thinking about the cryptocurrency and Bitcoin, But Actually I didn't find any related news from providing this source link, whatever the case is, they should find an alternative way to utilize properly of their Bitcoin and Cryptocurrency, most important thing is that, People from Hong Kong, should stand up for their basic rights and this is the high time.

blckhawk

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If in any case they use Bitcoin to transact, then they would need to find suppliers that are directly accepting Bitcoin as payment. Because if not, it's still useless, because they wouldn't be able to cash it out on exchanges (assuming that exchanges there are also locked/restricted).

All transactions need to flow only on cryptocurrencies, and away from fiat. That's the only way they could succeed.

Broly46

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0xe25ce19226C3CE65204570dB8D6c6DB1E9Df74AC

This is the high time when the cop decide to bend the rules and fight for their dictatorship leader, literally sabotage the people who pay the taxes to feed them, and this shameless cop decide to bite their own loyal citizen! People must realise, the cop they long know has been dead, what is left are just bunch of goon who covering themselves in the name of the duty to serve the nation, my foot, just bunch of terrorism!

CryptoBry

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People in Hong Kong should fully realize that the many things happening in their beloved state country are the things that should be the big reasons why they should be adopting Bitcoin. This is the power of the state and its desire to control how the people should be acting, thinking and behaving. All things are directed by those in China, of course. Ironically, China is a big player in the whole Bitcoin ecosystem and was in fact the very reason for the recent big pump of Bitcoin.

meanwords

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I don't see any flaws in using Bitcoin for their agenda. I mean if they use Bitcoin in order to funds their activities, their government won't be able to do anything about it since they won't know if the protestors use mixers to mix their funds or they use services here in the forum. So how are they going to withdraw them? They could use paypal or services here in the forum in order to do it. It's not like banks is the only way to fund them.

PS: The link goes to https://beincrypto.com/plustoken-ether-worth-100m-moves-striking-dump-fears/?utm_campaign=amba&utm_medium=social&utm_source=bitcointalk&utm_content=jc

MURONDI

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can you provide a link related to the news you mean, The link you provided does not contain news about the confiscation of Hong Kong Police, but rather news about plustoken, if the news about the foreclosure is true I hope the news can have an impact on the development of bitcoin.

Pearls Before Swine

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Well now, this is one headline about bitcoin that I completely agree with.

If those funds were simply kept in a bitcoin wallet and assuming that it wouldn't be too hard to convert the btc to fiat when needed, it would have been the perfect solution to the gov't seizing the funds. I can't believe that with the whole world watching that situation, they would pull a move like this but obviously they did. I'm talking about the gov't, by the way. That couldn't get much more repressive.

Quote from: Artemis3 on December 19, 2019, 06:12:27 PM

China already has the great firewall, all they have to is force Hong Kong into it as well. This will complicate things, but never stop it.

Good points above and the ones I didn't quote, too.

minersday

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Saving huge monies at the bank has never been an option of mine. The hustle of process that you have to go through in order to have access to your own money is damn tiring. Anyway, this issue with the protesters have been going on for a while and i think it's high time the government listened to the people and do their bidding as democracy is a government for the people. In addition, the freezing of that fund will defintely give people a hint of the financial freedom they can have if they decide to use bitcoin or any other cryptocurrency.

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