Bitcoin Forum

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/

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.

It is still a war of words, we are far from the real conflict in Hong Kong area. Situation is now fragile, but I don't think that Bitcoin (or any other cryptocurrency) is not that tip the scales between the two countries. 

Have big problem between CHhina and Hongkong but we don't know have positive or negative effect for bitcoin and altcoin price, China have not accepted bitcoin anymore and have banned using bitcoin as transaction payment last several years.

To put it simply any negative news that could cause any fear of economical sactions would induce buys on bitcoin as store of value, in fact many institutional investors had prefer crypto versus bonds or stocks that far less risky and it's really a good sign forward. It might also be catalyst for people to start looking at alternatives, with bitcoin gains crypto has dubbed safe bay for frowning assets.

Two countries?
Hong Kong is not a country, is just a special administrative region of China, just like Macau.


Why would people move their money from Hong Kong into China and not somewhere further away?
It's exactly the opposite.


There can't be any war.
Hong Kong doesn't have an army and there are about 50 000 PLA soldiers stationed near the border around Shenzen, less than 20 km away plus another 6000 directly in Hong Kong.

It will be over in less than a day.

Hong Kong = China   Not sure what war are you talk about.

It is more a Cold War of words at this moment.  ::)  China's extradition plans is causing a uproar in Hong Kong and a lot of people are fearing that their relatives would be extradited to mainland China if this bill is passed. They call these people criminals but a lot of them are political opposition to China's rule.  ::)

A lot of these people can use Bitcoin to protect their wealth, if they are extradited to mainland China because it is borderless and capital controls can be bypassed if it is used correctly.  ;D

Just another small win for the small guys.  ;D

Since Bitcoin was created, a plenty of new wars have started, and there's absolutely zero data suggesting that any of them had any sort of impact on Bitcoin's price. Therefore Honk Kong protests have absolutely nothing to do with Bitcoin.

This starting to look exactly like the previous rally - journalists are losing their minds and are looking for crazier and crazier theories about how Bitcoin can go to the moon, or they are making up some stupid explanations about existing price increases. People, especially newcomers, should realize that it's all just bullshit, and it's important to properly check facts if you don't want to be manipulated and lose money due to hyped trading.

We can't tell yet since there are no steps/initiated yet. I get the point why the war between their mainland-China and Hongkong. But I can't clearly see bitcoin as a great option for them to move their assets. Chinese are only doing things if they are sure of success and bitcoin is not an ideal option they can have. They would rather choose a diamond or golds instead of bitcoin. They always wanted to be secured and don't want to lose their hard earned money. But let's see. As I said, we can't tell it yet but there's a possibility.

It's still too soon to make a prediction on which if Bitcoin popularity will increase due to such protests.

Moreover, the city is already suffering from liquidity problems, fueled in part by the China-U.S. trade war. Many now fear that if the extradition bill passes, it will increase capital outflows, thus further reducing liquidity.

Who knows if it will bring downside upon Bitcoin's informations and trusted investors making it a bad thing to use rather a good one.
We will need to wait for further developments till clarifying which pros and cons will bring to the Cryptocurrencies society.

Bitcoin is already trading at a premium in Hong Kong:

https://www.ccn.com/crypto/bitcoin-price100-premium-hong-kong-violent-protests/2019/06/17/

That being said, I'm not sure if this conflict can make a large enough impact to have significant effect on global prices. I also don't think the CCP would be very keen on taking drastic actions with the whole world watching, but I also kind of don't see them giving in to protests. I only hope they reach a compromise.

Nope, it's 99% fake news.
The exchange they mention is tidebtc, it's volume and price are ignored even by coinmarketcap and hkd volume was only 11 btc.
And anyhow, the variation was of only 100_$, right now even bitfinex is at 9127 and  kraken at 9081.

The only scenario where this can affect BTC prices is if HK residents have their bank accounts somehow intervened by China and they can't get their money out, or if the HKD ends up hyperinflating as is the case of Venezuela and to a lesser extent Argentina.

I think there's a chance it could lead to privacy coin popularity.
Did you see the huge queues at ticket machines? Protesters were buying with cash because they didn't want ticket purchase history to be tracked and to link them to being at the protests.

https://www.coindesk.com/crypto-is-an-important-defense-against-todays-orwellian-surveillance

I think this is possible. For years ago, it seemed everyone was blind about blockchain and crypto and didn't know what it was. But I think after big events because big businesses enter the market, it seems that many people are understanding more about crypto and at times when the market is showing signs of recession, the BTC will be the best place to they invest in. Venezuela is a good example.

I guess even if things like this are true, the use of Bitcoin that is only used to transfer funds I don't think will be that easy, of course with such a lot of funds they only have 2 choices.

1. Buying in a clear exchange for withdrawal will require KYC
2. Using OTC is quite high risk

So if thats the case, maybe bitcoin as a legal currency will debut on Hong Kong unofficially. If you really dont want to get tracked, use cash or cryptocurrency. Im sure people there are aware of crypto now because they need it in this situation but it will be a bad image if crypto starts in a crisis.

I don't think Bitcoin will be the main options, wealthy Chinese or Hong Kong citizens can still go to traditional assets like Gold.


Don't exaggerate things, there will be no war between the two, remember they still shared the same President and that is the current President of China.  ;D. But what I admire about Hong Kong residents is that they march in the street because they know the future of their country is at stake. But as to the net effect on crypto? I'm still divided though, maybe some of them has shifted their wealth to Bitcoin but for sure majority is still undecided because they know that this will settle down.

That could be their best option since it's untraceable but not only Bitcoin all the other good coins in the market can benefit from all of these, because they will diversify their portfolio, so all the other coins can experience a surge on its price, let's see if these things will materialize

I hope it just end in war of words which is normal between two nations. Why bring a bill to deport law offenders to mainland? I hate such bill, since Hong Kong has some degree of autonomy, then they should resolve their citizens conflict issues themselves than sending them to Mainland for ruthless punish.

I don't even think that will affect Bitcoin's price. It's easy to link whatever problem in the world to an increase in Bitcoin's price, but it's impossible to actually prove that the problem you think helped Bitcoin increase actually is responsible for that.

I remember reading about how back in 2013 Bitcoin's pump to over $200 was caused by the problems in Cyprus, while that most likely wasn't the case at all. Most average people there probably didn't even know what Bitcoin was.

The thing with crypto related news outlets is that they always try to make it seem like people in whatever shaky country are using Bitcoin or crypto, but most of them obviously aren't. They have other problems on their mind.

War is never the solution as it takes economy back for both the counties and also the world economy falls due to such tensions. But btc and other crypto has to rise  n coming time as  popularity and demand is rising at continuous pace.

Recently I learned that they have canceled the extradition deal but unfortunately the deal is still there only on hold, it wasn't
rejected, it wasn't accepted, it was just postponed. Now this is a good strategy by the leader because that means he doesn't have to accept it right now but will be able to postpone it until all these riots and protests end and when it ends they will be capable of accepting it once everyone is at their homes.

After the fact everyone can go out and protest again but this time they will have a chance to threaten them with the fact that china can take them from Hong Kong and put them in jail.

Basically, the government have the upper hand right now so people should not be going back to their homes for a longer while and that will cause the economy to keep going worse for China and that could affect crypto big time, I know its a bad thing that is going on but unfortunately we will profit from it.

I remember this scenario from the Cyprus crisis.
People were saying greeks are buying bitcoin because the banks have frozen their accounts, but I still haven't figured out how you can buy coins with your money from a frozen bank account :P


There are no two nations, HK is an autonomous region with more than 90% of the population being Chinese.


Oh, this one is new, both are counties now, in which state? Texas?

I think taking your money away is the biggest weapon people have. Think about it, how much of your money in banks are actually in banks? If everyone in the world who have money in the bank wanted to cash it out on paper what would happen? Banks would collapse and there would be a lot of scams coming into light and banks would be looked like criminals and investors would never reinvest their money.

So, if Hong Kong rich people wanted to withdraw their money from China in bitcoin form they may have to cash out in cash form and buy bitcoins with it (since direct bank is difficult right now) and that would result with China allowing Hong Kong to do whatever they want just to keep those people with money happy with the situation. I would fully support it since it both stops a dictatorship plus hurts banks.

Absolutely no war going to happen between Hong Kong and Mainland China, and yes Hong Kong is no doubt part of China but the people who live in Hong kong do not like mainland China because for them people from China/mainlanders are rude, ill-mannered, poorly-educated, and dirty, While on the other hand some mainlanders view Hong Kongers as arrogant. And whatever the outcome hopefully it could lead bitcoin to top, so that everybody can enjoy the benefit.

Credit:
https://en.m.wikipedia.org/wiki/Hong_Kong%E2%80%93Mainland_China_conflict

This is interesting because China is hostile to cryptocurrencies and bitcoin in particular. Presumably, if Hong Kong citizens can be extradited to China without obstacles, the Chinese can fine or expropriate their wealth. So there is an advantage to using an uncensorable means of exchange.

I still think bitcoin's use case is strongest in nations experiencing or siusceptible to hyperinflation. However, its portability is advantageous for those worried about extradition. This is one of many unintentional positive developments for bitcoin.

Bitcoin was made for small guys. Right now a lot rich use it but it will give real power to normal people and poor.  Rich could always preserve their wealth.

      This like a civil war because Hongkong was owned by China as one of their province so if this will happen,  their currencies will be zero value like what happened to other country , that's why rich people are going to withdraw their money  from bank then convert it to crypto currency so this will make crypto more popular .

Well if this chaos make bitcoin more popular, which bitcoin are use to hide money from the goverments. I think this kind of thing could turn out to be bad and goverments of china and hongkong could make a more strict regulations that will prevent those who wanted to hide their money by using cryptocurrency. I do think bitcoin will become more popular caused by the development of the technology such as lightning network and real use case.

Exactly, bitcoin is an alternative investment so when for some reason we begin to see disagreements or a weakness in the current system this makes bitcoin stronger, however we are still far away to the day your average person will decide to invest in bitcoin in order to protect his assets, but every time we see the system showing flaws a few people wake up to the fact that the system is a scam that benefit those at the top, and while there is not doubt that there is always going to be someone at the top it is completely different if they achieve that position by rigging the system in their favour.

I believe that eventually China and other countries where bitcoin is currently ban will have to relax those laws in the future. Bitcoin and other Cryptos will play increasingly greater roles transborder trades

of course we do not expect a very protracted event to occur there and impact the economic development directly there. they will be able to finish well, because they also know that if it dissolves late it will harm themselves. in situations like this it is certainly very irrelevant that bitcoin will have a direct impact. even though we know the development of crypto there is very advanced.

The people are marching and revolting because of China's big dick fuckery. The Chinese laws and their bill will fuck up entirety of Hong Kong, as if their cost of living already doesn't (https://www.numbeo.com/cost-of-living/country_result.jsp?country=Hong+Kong). Bitcoin's price won't be affected by this for sure, hardly a few would even consider purchasing bitcoin, they have their lives at stake, everything they stand for is at stake rather. This issue is way bigger than what media portrays because Kylie Jenner just lost one strand of her hair OMFG.

Apparently not: https://www.bbc.com/news/world-asia-china-48607723

The reason you gave here is not enough to convince people in those countries to make use of cryptocurrency. And FYI China has banned Bitcoin for good and I don't think they are going to be accepting it any longer and if they do its going to be under regulation (oh, what am I saying… Bitcoin can't be regulated right? That means they are not going to accept anyone making use of it. That's why a lot of crypto companies are moving out from china and moving to other countries where they will be allowed to continue their crypto business. Let's wait and see what the future holds.

They have been doing so for the past 4 years, and believe me, from all the bans they have issued against bitcoin and cryptocurrencies, the Chinese crypto community is still one of the largest in the world. The recent bans that they issued were all focused on mining due to environmental concerns and does not tell anything regarding trading, holding or keeping the said crypto. Business as usual for the Chinese people even though their government tells them not to.

Time is coming when Hong Kong will be under the full control of China when the 50-year provision will expire in 2047 though I am sure that by that time Hong Kong will negotiate for a better and acceptable deal with the mainland. There will be no war in between the two countries as not one can afford the ill-effects it can inflict to their economies...these days there will be threats of war but most are just rhetoric as no country is really serious in causing such a conflagration. With this latest development in Hong Kong which caused an increased interest with bitcoin, this is just another confirmation of how bitcoin can playing a good store of value even much better and more accessible than the physical gold.

I am not entirely sure if it will be affecting bitcoin directly, China has their own opinions about bitcoin already and its known worldwide and Hong Kong has theirs. Just because there is a civil disobidience movement going on I am not sure it will affect it directly.

I mean of course there will be some money going out of China and coming into Hong Kong and people may use bitcoin for that but that would be very minimal for us, it would probably be too local as well so wouldn't probably affect the global market, hell it could be even more over the counter too so it couldn't affect the market since its not public transaction. That is why I think this is a very important political movement and I am %100 sure stopping China to be a dictatorship is an important thing but I doubt it will have too much affects on bitcoin.

Dear, word war can be more damaging than real war, war is just fight that could be stopped when there is an intervention, but in the case of these two, we are talking about trade war which if not stop could really lead to economy disaster, and from word war you see, is where it explodes to being a full blown physical war, and before you know it, US will start talking of nuclear bomb as usual and china who has wanted to be the giant of the world will see it as an opportunity to prove themselves to the world.

War is not a good thing at all, whether world war or trade war. Look at the issue of relationship; you think fight starts without trading some words first. This trade war needs to be stopped man.

If it looks like a mandarin duck, it quacks in chinese, and it's going to end as a Peking duck then it's a Chinese duck.
How they think of themselves doesn't change much, Catalans do the same thing but everyone is labelling them as Spanish and no matter how they try to spin it, they are Spanish.

Anyhow, when China will decide that it can't tolerate this anymore it will simply move 5 million Chinese from Shenzhen across the border and suddenly Hong Kong will be full of real Chineses that are obedient to the government while the former will try the hospitality of northern Xinjiang and its reeducation camps.

As long as China is still on its path to a superpower they are fighting a losing battle.

Hong Kong and Chinese people only buy more BTC when the value of fiat money is reduced due to political and economic war. But currently the value of Chinese currency and Hong Kong has not had a sharp decline recently.
They will not use all the money to buy BTC and we should not expect many people to buy BTC when they do not have knowledge.
We should expect real investors to enter the crypto market because they themselves will understand and not sell off whales if manipulation occurs.

Many people are not satisfied with the current economy, slowly but surely those who are more unsatisfied are turning to cryptocurrencies. Not everyone from this wave will rush to buy some bitcoin, but some of them will do, and one by one we are shortening bankers and longing bitcoin, in long run every economical war will benefit cryptocurrencies, bitcoin especially.

Some of them may invest in traditional assets, but I'm sure, being advanced people, many of Hong Kong's residents will invest in Bitcoin most of their savings. Storing gold in China is not as easy as it seem to a Western eye. Gold can be confiscated at any moment, while confiscating Bitcoin is much more challenging for the authorities.

Overall, I think these Communist rulers, being a brake on progress, are not letting people of China to breathe full chest, and the fact that they are still in power surprises me.

as we know now China is doing research on the blockchain and there will be something new from China for sure. hopefully with the development of bitcoin and dichina regulation can improve the development of the fintech world

Don't be fooled, war is a lose-lose situation for everyone involved in today's climate.  All the big countries have nukes so powerful it would cause havoc for the entire world.

You're right in the regard that it will indeed create some form of demand - the fact that the wealthy will most likely want to exchange their funds to other foreign currencies in anticipation of further turmoil will mean that BTC will possibly be utilised as a vehicle.

However, similarly to people's perception of how the Venezuelan hyperinflationary crisis contributed to last bull market, I highly doubt that there is as strong a correlation as people think.

One, the demand sparked by this is probably negligible when compared with other market forces, especially the market cycles themselves. Two, the fact that a lot of these wealthy elites don't place trust in BTC, and their end motive is to get themselves into a currency like the US dollar means that the demand and supply is essentially nearly offsetting from their transactions.

You're not wrong here though. Regardless of the fact that 2 Million civilians marched against the new bill that was passed, the only option they have is to leave that god forsaken shithole of a place.

This was quite an interesting read: https://www.theguardian.com/world/2019/jun/25/we-have-no-other-choice-as-china-erodes-democracy-hong-kong-citizens-prepare-to-leave

Imagine how bad the condition is, that the people are moving to Australia out of all places. This whole world needs a redo, desperately and immediately.

It can lead to a mass growth if China allows cryptocurrency to be used by their people and lift the ban on mining bitcoin there. This revolutionary from Hongkong can’t lead to a bitcoin popularity since they have their own currency. Bitcoin will still be popular though a conflict like this might not be good in both market.

I am not sure how long this will continue, I mean a city can not riot or ask for a presidents resignation forever, they are still trying their best and building social movement groups and so forth to make that happen and get rid of this Chinese lover president but as long as he is an elected president and doesn't want to resign there is nothing that will get him down from there unless he does something illegal which he hasn't done.

If this continues for a long time then it will definitely affect not only crypto (which is good for us) but also the economy because a whole nation is in riots and the economy is not improving or flourishing under these type of days, every single day the negativity continues the economy goes even worse, inflation may go up as well and even production could be affected.

Well we can agree that those rulers are really putting a break on progress, if anyone remember this (https://en.wikipedia.org/wiki/1989_Tiananmen_Square_protests). That's the cost of trying to get some sort of 'people's people' in China. The government will do everything to stop this sort of progression. Remember that's the 80's the fall of communist Germany and the subsequent dissolution of the Soviet Union in 1991.

So unless someone from China started some 'coup' to overthrow the communist government, they will held on their power for at long as they want to.

The present political screnio in hongkong and china will move most of the investors to crypto currencies and store their assets in safe these kind of situations  happened in france and other countries as well people are more keen towards cryoto currencies mainly at the time of political uncertainty conditions

Okay, another confusing story on bitcointalk.org forum. I have read this post like three times and I still don't get how this has anything to do with cryptocurrency, sorry I'm just not understanding. First of all, who are the people that are being deported from Hong Kong? Are they Chinese citizens that are suspected of crimes? Or are they Hong Kong citizens that committed crimes and their government wants to forcefully deport them to the Chinese? Okay, if that's the case, how does making use of cryptocurrency help them? This your story is not adding up and is confusing. And I didn't click your link, cause I don't want to click.

It is very difficult to understand the essence of the question posed, because war never benefits the development of peaceful technologies.  Another thing is military technology, which grows like yeast dough, if there is some kind of military confrontation.  But I don’t understand how Bitcoin can benefit from the war between China and Hong Kong.

Closest possibility will I think be for Hongkong to be a separate country from China. To be totally disconnected like Taiwan. If we remember how Taiwan won its plea to be an independent country, now they have a more peaceful and quiet life. Besides China is becoming too dominant and harsh by meddling and prohibiting any religious activities in the country. If this situation could bring good effect to bitcoin, that will be uncertain yet.     

Hihi, they've chosen Australia because it felt a bit closer to their former home.
Funny that in the top 3 there is not a single EU country and we're still quite attractive ....for how long that will be.

But notice that not only politics are the reason, but they also blame living conditions,  wages, prices, I wouldn't live there either, no matter
who runs it.



In the mind of some Bitcoin fanatics war is good for Bitcoin just as an economic crisis because it will help the price and Bitcoin adoption. Of course, people that get killed in the war or lose their jobs will be the first to buy into crypto.
Also, the OP thinks that people fleeing Hong Kong will buy Bitcoin to get money out of the country and increase the price and omits that once they arrive at the destination they will also dump them.


 

You will be a great analyzer because of the way you totally did your analysis, I often get amazed sometime when people just fee that bitcoin will have solution to everything, and I don’t know where in satoshi whitepaper where it was stated that bitcoin will end war or war will benefit bitcoin. Bitcoinis meant to help grow economy, no doubt about that, but how it will help a damaged economy is still what I really cannot phantom.

The only thing that has ever crossed my mind in the case of linking bitcoin to war is that people could easily use it to move money out of the country easily without it being traced, and this practice will only benefit those top people who are even the ones that caused the war, and like you said, they will eventually dump the coin back when they have the chance to do so.

You're talking about the serious war, and it can't really help the situation on every country. I don't see this one as an advantage to cryptocurrency or to any bitcoin they must be more peaceful and enjoy crypto technology. If there's a big war happening around China and Hongkong then it can affect the market, especially if China continues to ban cryptocurrency by that time we have more negative trend for sure.

This coup can be a bloody one, and therefore I am against such a scenario of change of power. I hope the Chinese leaders have enough wisdom to do something similar to what Mikhail Gorbachev did in the end of 1980s. Communism failed. They have admit it and move on, if they wish good to their people.


Bitcoin is traceable, so the bad guys, you've mentioned, would probably use other than BTC crypto for their bad deeds.

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Overall, I think we shouldn't wait for some wars and/or catastrophes to happen so that could boost the price of Bitcoin. That's immoral.

The OP makes a good point and the events the last few days have emphasized it. Today with "Chinese forces gathering at the Hong Kong border" people in Hong Kong should be buying a bitcoin or two each as an escape plan.  Gold, silver etc can be confiscated if you need to flee.  Bitcoin is more difficult.

See:
https://www.news.com.au/world/asia/chinese-forces-gathering-at-hong-kong-border-white-house-officials-monitoring-escalation/news-story/82621253f4c093c69834e041713ab34d

Personally, I don't see any full blown wars between this two. China is just flexing it's muscle around the border, but it doesn't mean that they attack HongKong anytime. As far as the effects, maybe some wealthy Chinese are really putting their money on crypto as a leverage, but with what we're seeing at the current price, I'm not sure if this is the real case though.

It could happen it depends on how educated these wealthy people about Bitcoin and other Cryptocurrency, they can convert all their wealth in cryptocurrency, but they should know the risk of volatility in this investment, as long as they know how it works and how to protect their coins then it's a good option.

I tried accessing the site you link, but it dispalyed "Your are not authorized to view this page.".

I'm just curious how will this lead to bitcoin popularity?

I am sorry to say that I do not see any point there. Their war has been going on for a while now, and if it was going to have any effect on cryptocurrency, it is now that we would have seen it. Although I agree with the part that they can see it to move money around during the war without traces, but how many of them are really looking into that now, don’t forget that they will also consider the volatility of the market too before they put in money.

Anything that makes them pump the money now, before they could even think of getting to the their destination to move it out, the already existing investors would have dumped the coin, thereby making whatever they put in to have depreciated so much in value, and all these are what they will think before deciding if to go with the option or not.

I don't understand the OP. How can there be any war, when Hong Kong doesn't have an army of its own? The defense of the region is looked after by the People's Liberation Army Hong Kong Garrison (which is staffed by mainland Chinese). Even the vast majority of the cops are pro-China. The ordinary people may be against the Chinese administration, but they don't have much power.

I don't think this would be a "war" - Hong Kong is basically under China now, even its "leaders" are appointed by Beijing. The only reason the Mainland haven't went full Tiananmen on HK is because it is vital region and that would give the inhabitants even more reason to openly rebel. Plus the world is watching more now.

Back to bitcoin popularity, the situation in HK might affect it but only indirectly. China's economy is slowing down and a city in open unrest does not inspire confidence so it's logical for some people there to try to "diversify" and among alternative investments, bitcoin is the easiest one to buy into.

You had a point that when there is a war rich people who has lots of money will withdrew it and ofcourse they will not hold it physically meaning the chance of putting it on cryptocurrency is high but I think war between them wont lead to that scenario.

The impact on BTC price will be minimal if any. People in China and HK who wanted to invest in BTC, already did so long time ago, and with increased volatility in capital markets in the region, its very unlikely that pension funds or insurance companies will all of a sudden switch to BTC from bonds and stocks ;D therefore, I would say impact on BTC from this particular event is: increased volatility? - yes, a little; significant price change? - no. In the end of the day HK was Chinese and will be, so nothing new, just a bunch of people thinking that by protesting they can get USA help them out, while in the end of the day they live in buildings and drive the cars that are funded by Chinese money.

A better investment thesis in such situation would be shorting HK stocks or loading puts on HK stocks ;)

If a country is trying to invest, it doesn't mean that bitcoin will instantly grow. There are so many users that are investing anonymously in Bitcoin, then why the bitcoin price value is still at the same?

No one expert can speculate like that, there are computations and estimation that has been done to know if the BTC will grow due to the issue of Hongkong and China.

China and Hong Kong are not totally at war. It's just that the people of Hong Kong citizens doesn't want China to intervene on the current laws there is to them.

Thank you, will keep it in mind next time. And the messages are simply about pointing our that HK belongs to China. In any case it was historically like this, and currently like this. But anyways here is not a place to talk about politics. In the end we are all here for the same goal and reasons - innovation, and innovation does not have borders. As for affect of tensions on HK price, I shared my opinion above that it might contribute to volatility, but not to any significant price change as ppl who need crypto - already have it since long time ago.

If there is any physical war, do you think any of them would even remember to go after money? And not to talk of them going online to process the money to go through cryptocurrency, every one of them would just scamper for their life first before even thinking of money.

I have seen many people during war leave their millions to rot there despite the fact that they even had other means of actually safeguarding it and taking it out of the country other than crypto, but anyway, this suggestion too is still vital, but they will have to do it far before the war really start, that is if there is going to be any war because we like to exaggerate things a lot, maybe the war is just a minor trade war or just a little disagreement that will be resolved as fast as possible.

Just a thought is Hong Kong independent of China??

A month has passed is the situation still the same last time I checked there were protests going on, what's the latest now.

While civil unrest is certainly nothing positive and bad for HK as a business centre, I think it will lead to more awareness of bitcoin and cryptocurrencies.
From the protester's side, as a pseudo-anonymous payment method to replace cash transactions. This is key to avoid pervasive surveillance and flagging/targeting is you join or attend legal protests (eg: paying for metro rides, water, food).
Conversely it will also be used by HK residents that may be planning to move abroad due to said unrest. Although capital controls do not apply in the same way they do in mainland china, cryptocurrencies protect agains seizure of funds in the worst case scenario.

I guarantee that the price of Bitcoin increased because many traders in China and Hong Kong bought in bulk.
because Bitcoin is now so popular over the years and when China's economy is stagnant, people will look to Bitcoin to maintain profitability every year.
If this war continues, I think the price of Bitcoin will soon rise to $ 16k.

In my opinion, they will also save money to buy real estate or gold. because we will not invest in what we do not understand, and especially those asset classes constantly press called a scam.

Besides, Chinese people are often warned by the government about the level of Bitcoin's risk and this makes the Chinese stay away from cryptocurrencies. Therefore, if this war continues, Bitcoin will not have the large demand as expected.

It could be a long process if the Hongkong people will withdraw their money using Bitcoin currency as every crypto users who will buy Bitcoin inside the mainland China will be required identity details or perhaps a KYC procedure in which they could be easily identified as Hongkong resident. Except if their Chinese friends and relatives will help them then they could easily withdraw their money and send their Bitcoin to Hongkong but we all knows of how Chinese government is very strict to their policies that you may put your lives in danger.

I've read from a Forbes.com article  that the demand for cryptocurrencies and Bitcoin surged along with the protest. The protesters didn't want their government to identify them, so they avoid using their current centralized payment system.
If the scenario worsens, the rich Hong Kong people might use Bitcoin or other cryptocurrencies to store their wealth but if China gets its way, they might ban Bitcoin and the rest in Hong Kong just like what they did in Mainland China.





 

on china the people there are called chinese but on hongkong there should be term for that  . its possible for a country to attack the other and it did happen  oftenly . china is the most popular country that is involved on wars   .

i dont think that country wars can cause a popularity or can bring benefits in the cryptos because when i hear the word war i imagine that people will panic and wont think of money making business   .

Of course there would be increase in bitcoin purchases in Hong Kong. Think about what would you do yourself. We are talking about a whole nation (well sort of nation) getting a pressure from another nation that they are super tied with and that big nation is basically killing you right now and making laws all by itself and demanding the nation to be ruled however they want.

You can't let that happen but you see the chaos and you see people protesting, you are basically facing the fall of your government even if not in democratic ways it is definitely not doing well in popularity. It means these people will of course will take their money and take it to bitcoin, I don't know how much it will affect bitcoin itself as a whole but it definitely will affect the adoption rate in Hong Kong.

Without any announcement or any official news related to it, I will not expect anything from both countries.
I have always believe that whatever decision China make can not affect Bitcoin and still have that notion.
Without either China or Hong Kong, Bitcoin will always be popular.
The history of Bitcoin should tell us that a country rejection or acceptance of it, (especially that if China) will not affect it.

When we got the news of bitcoin banned in China the prices starts to be extremely bullish so it actually did good thing to crypto when they tried to oppose it.

Chinese people know what to do. Previously, it was supposed that China bans cryptocurrency trading in order to do its own, as it has already done with Google. But the point is completely different, the crypto developed by the Central Bank of the country will not become a competitor to Bitcoin, but will replace the national currency. I am not sure it will affect Bitcoin popularity.

Actually all the articles about bitcoins and news covering everything and telling people what bitcoins is .. they are just publicizing everything for free .. people trusts news channels and they are making everything out in the media and at the same time using the same technology for making their own cryptocurrencies I think ..they are telling everyone how it is legit .

Every war related to bitcoins is making it more popular.

The wave of protests in Hong Kong continues to expand, people are building barricades in the streets and stopping subway trains. This is a pretty serious conflict. The authorities did not need to allow such an increase.
We observe that in such centers of conflict and in the territories adjacent to it, the rate of cryptocurrency, and primarily Bitcoin, is growing significantly. It is likely that this will happen this time, even despite the position of the Chinese government in relation to bitcoins.

I doubt whether you have read what the thread  is all about, the Hong Kong and China cold war is not about bitcoin and it solely because of the Chinese plan on changing the financial capital from Hong Kong to Shenzhen and there are other political turmoil in the region as there is a huge protest going on in Hong Kong and people were supporting their cause with the help of bitcoin funding who shared their same views.

The biggest reason that I heard was that there was a law that president wanted to pass that said Hong Kong could give a prisoner to China. I mean if you commit a crime in Hong Kong then you should be jailed in Hong Kong but with that law you would be capable of sent to China instead and Hong Kong didn't want to be sent to China.

So, they said there should be some sort of referendum and ask the people of Hong Kong if they would accept and the President didn't do it which is why there are protests everywhere. That is the info I have however this was read on reddit and not some official place so I don't know how real it is, maybe I am wrong, we should be looking for someone from Hong Kong to come up and tell the true story of why they are protesting.

Because of the Hongkong people's willingness to fight for their rights, the bill is now aborted of course Chinese people in Hongkong will need to protect themselves from this scenario from happening again because another bill could come out again.

And you are right Cryptocurrency is such a good option to adopt, in case the bill or similar will pop up, I think many Chinese are now doing it.

Possible that bitcoin will be recognized to the whole world because it will flash to the whole networks.And people will be currious what is all about. And there people will find out and they will recognize that bitcoin is good for the many because  you can earn bitcoin in your own knowledge and have more understanding about it how to earn money.

What happened between China and Hong Kong was not war but tensions over the planned unilateral extradition law from Hong Kong to China. War is almost impossible between Hong Kong and China.
Why?? Talking about war is no longer an economic problem but rather a matter of geopolitical geostrategy. Fighting China is tantamount to giving North Korea a reason to show its military power to the world, arguing that it feels threatened by the possibility of American support for Hong Kong.

It is possible that with this tension, many investors will withdraw their investments in both countries and move them to become digital assets. Indeed the information about withdrawal transactions from Hong Kong has high traffic but this will not have a major impact on bitcoin because previously digital assets in China were indeed large. This is only a matter of moving from the right pocket to the left pocket.



China is not actually an authoritarian country like North Korea. China is considered an authoritarian country because there is only one party in China, namely the communist party and no elections in China, so China is considered an authoritarian country in terms of the number of parties.

In a sociological and anthropological way, the Chinese people are not materialistic people, they are bound by culture, religion, and community. All results are always for the common good, not for the benefit of a group of people. The Chinese people assume, for what many parties and many flags, such as the understanding of Liberal democracy in the West and the US if in fact, the results are only for the interests of investors and the Party, while many people are colonized by the system.

Some of us forget that in the early 2000 the tension rise to another level between China people and Honk Kong people and since then it escalate year after year because protests have been every year since then. The 2 system 1 country won't work and China mainlanders already express their vocals that Honk Kong must be again under China Government all of these lead to high tensions again and the wave of protesters gets bigger and bigger also the violence is sad in my opinion as I saw kids beaten up hard and medical staff could not get there to help them with first aid.

Regarding your question , I don't see how a war like this could lead to Bitcoin popularity because Honk Kong cannot even cash out their money so how could they even buy bitcoin with something they don't have ? If somehow their Central Banks will allow withdrawals to all the citizen ( because we know they are facial scanned there ) maybe then this will lead to actually rise of the decentralized coins but not bitcoin. Just watch the Hustle Of China and compare it with bitcoin projects from China because to me, it looks the same but on a different scale.

War is far more gruesome and barbaric than what's really happening between "mainland" China and Hong Kong. It's politics, and if you ask me it could be worse than war, but at the same time, politics form government and laws. So Hong Kong disagreeing with the bill that "mainland" China proposes is an obvious reaction, considering that Hong Kong has been a Special Administrative Region (SAR), it is allowed to operate as an independent country, so pretty much what happens in Hong Kong stays in Hong Kong but "mainland" China doesn't want that.


1) Well, it is an Authoritarian country.
2) Makes it, even more, an Authoritarian country.
3) I'm skeptical about this. Considering Hong Kong doesn't agree with the way "mainland" China runs(?) And by the way, it is not for the common good, but for the benefit of a group of people, naming Communists.
4) This is all over the place (meaning, I'm not sure about this).

I honestly don't see any possible relationship. And in any case, no superpower has any interest in favoring the development of a VERA cryptomoneta, which would be out of its control.
Instead, he will try to create a fake one.

But it is easy to know what will happen next, whenever people begin to take actions to defend themselves from the actions of their governments the government do not take this lightly, you can be sure that in the future cryptocurrencies are going to be banned in Hong Kong and since they are in the middle of a crisis you can be sure that the penalties for using cryptocurrencies are going to be huge.

This means that those living in Hong Kong will have very few options, they will have to decide whether or not they like the idea of their country being dominated by another one or to just get out of it and not come back and neither of those options is very appealing to me.

An initial opposition to the extradition bill started as a fight and the same has now turned to be a movement of opposition against the communist rule. 1st of October gets celebrated as China's National day, and this time how good the celebrations could be. It has been facing hard criticism from countries around the globe. Hong Kong on the other side keeps on gaining more and more support.

The protest has been taking place for months, and most of the protesters here were under the age of thirty. They keep themselves with perfect preparation to stand against the ruling. Now China has been experiencing pressure from various sides, very importantly it has been facing problems from human rights and finance. To end this is not possible in the short, and as there is financial burst it might affect the cryptocurrency to a very small level.

Media reports from Western channels such as CNBC, CNN and BBC can be biased. What I have observed is that although the protesters remain very vocal and aggressive, there is a large section of the Hong Kong population that wants to maintain good relations with China. And another point to be noted here is that despite all the provocations by the protesters and damage to the public property, till now the cops have not acted in a harsh manner, which is very uncommon for an authoritarian state such as China. That said, I don't think that this ongoing crisis will have a large impact on the cryptocurrency prices. Hong Kong trade volumes are low, when compared to countries such as Japan and South Korea.

Not only they can be biased. They ARE BIASED and most of them are straight up leftists. But besides this digression I don't think that conflicts in china can significantly help bitcoin

Bitcoin was certainly already massively popular and both Hong Kong and China before these unfortunate recent events by the corrupt Chinese government. You can't blame them, because any one who has been touched by Donald Trump is susceptible to become corrupt if they do not have thick enough skin to see past his lies and deception. However, hopefully Hong Kong will prevail and China will come to their senses and do the right thing and make peace.

Bitcoin is already popular in Hongkong or in China, they are just forbidden to use it before since China is known really in opposing cryptocurrency, due to this war only they decide to have their own cryptocurrency similar to Libra. Since they see how it process and they knew they can have transactions without being traced by any. Hope their war will end soon, it will not benefit their country and their people, they both have same raise so they should learn to understand each others point.

I don't think that the Chinese are forbidden to use Bitcoin. As far as I know, there are a number of cryptocurrency exchanges operating there. However, it is forbidden to exchange fiat to crypto. In China, they can only trade between various cryptocurrencies, and not between crypto and fiat. Earlier there were reports that the authorities were considering a ban on Bitcoin mining (more than 80% of the Bitcoin mining hashpower originates from China). But those plans were recently dropped. And even now, many of the largest Bitcoin mining farms in the world are located in China.

in fact this is one country, not two different countries as it is mentioned in the article.
I do not think that any crypto / bitcoin connections to the students, which are doing not exactly legal things , will help boost price of bitcoin.
I think  it can lead to more banning effects instead..  This situation is not good if you ask me, better stay out of it.

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.

The Chinese closed down all their cryptocurrency exchanges in 2017. However there is still a lot of person to person trading that happens in secret in cafes and bars and so on.

Until Xi Jingping came to power the Chinese were quite content, but I think he has frightened them a bit and they're slowly but surely moving their money abroad.

Regardless of all that it seems that the Chinese government have a huge influence in the manner that the Chief Executive of Hong Kong is chosen because the assembly that elects the leader is totally made of Pro Beijing politicians. China would like to exert their total influence on Hong Kong if it wasn't for the international community.

Almost one month China and Hong kong faced war and still not have positive respond for bitcoin, still lower price bitcoin today and hope Hongkong and China better to give freedom for Hong kong.

Bitcoin price lowering doesn't mean the popularity is decreasing, the current price dumping is I assume a price manipulation from a big player while the bitcoin popularity in HK might or might not increasing. However, I actually don't see the Hongkong and China right now could affect bitcoin at all.
They just don't have correlation and I don't think just because of some riots people would transfer or convert their money into Bitcoin even the foreign investor I assume will just take back their money through conventional way and there's no need to risk their money to bitcoin and got side effect like volatility and complicated thing they need to face if they really want to use bitcoin as a means of transferring huge sum of money. At best, some minor people will try to use Bitcoin I'd guess they won't take it into that far making so much people transferring money using bitcoin.

In times such as war and economic crysis, people tend to stay away from the governments. In my country, if there is an emergency situation, government can take our money and use it for the emergency such as war. So, if there is a war, in order to avoid this, I buy bitcoin. This is what that is happening in Hong Kong and China. Our psychology is similar, we avoid the risk through decentralized systems such as bitcoin. In any case such as war or crisis, we have a new way to be free fortunately.

Xi Jinping is much more authoritarian when compare to his predecessors, such as Hu Jintao and Jiang Zemin. Compared to Xi, Hu was a moderate who tried to resolve the differences with soft power. But ever since Xi came to power, China has taken a very aggressive stance. And this is visible not only in Hong Kong, but in other regions such as South China Sea as well.

But such authoritarian rulers do no good for the economy. The GDP growth rate has slowed down quite a bit ever since 2013 (when Xi was made the president) and the ongoing trade war between China and United States (which has damaged the Chinese economy considerably) can also be partially blamed on the coercive arm-twisting tactics deployed by Xi.

News all over was that Hongkong residents are buying BTC!


That's a bit exaggerated for a simple problem they are facing right now. They will come up to an agreement with Hongkong for this extraditions but XI will still be the person who will rule Hongkong, it belongs to China. They will probably industrialize the parts of hongkong for GDP growth. If the mainland will commit to aggressive stance, there will be blood on the streets and no government from the outside can intervene and none can even see it on the news. Xi is softest that he allowed all these news to be broadcasts.

Let’s don’t take serious all the hearsay from news agency because only noob will believe on that.remmberhat they all wanna will their news no matter what’s the real score is.no this won’t effect bitcoin and nothing this will do for cryptocurrency.this is only a propaganda or something near just to boost something for their concerns

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..

I agree with you. If the Hong Kong protestors use Bitcoin or any other cryptocurrency as a tool to counter the Chinese machinery, then it may provoke China to take a hostile stance against the cryptocurrency. And this is not going to be beneficial for Bitcoin in anyway, as the economy of Hong Kong would look minuscule if we compare it to that of China.

The best strategy for us would be to remain neutral in this issue. If the Hong Kong protestors want to use Bitcoin as a means of financial independence against China, then let them do it at their own risk. The Bitcoin users should not take sides. I am not a big fan of the Chinese regime, but I guess this would be the most practical thing to do right now.

According to the following article, trading in bitcoin has spiked in Hong Kong:

https://decrypt.co/9902/bitcoin-trading-spikes-hong-kong-political-crisis-worsens


So something is happening, though it isn't yet affecting the overall price of bitcoin.

Give some attention to the figures quoted in that article. They are saying that the 7-day volume was less than $2 million. That is very marginal when compared to the global volumes (typically more than $100 billion for the 7-day period). This news is nothing more than a clickbait article. I could not see any major rise in the trade volumes from Hong Kong and from what I have seen in the past, historically political incidents have very minimal impact on the Bitcoin exchange rates and trade volumes.

There is a trading volume spike in BTCitcoin in Hong Kong and it is mainly because of the political crisis and to have any implication on the market you need to have a much bigger volume, the total transaction is just around 1.4 million USD and as per the reports and that is around 173BTC is being traded and it is not a huge amount to make any changes in the price. The major take away of this change is that people trust BTCitcoin than their local currency.

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.

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.

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.

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.

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.

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.


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.

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.

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

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.

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.

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.

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 (https://blockonomi.com/hong-kong-bank-run-bitcoin/)

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.

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.

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.

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(?)

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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.
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.

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.

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

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. :)

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.

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.


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.

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.

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

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

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.

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.

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.

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.

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.


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

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.

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

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.

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.

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.

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.

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.