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Title: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: cheezcarls on December 19, 2019, 07:33:50 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 (https://beincrypto.com/plustoken-ether-worth-100m-moves-striking-dump-fears/?utm_campaign=amba&utm_medium=social&utm_source=bitcointalk&utm_content=jc) 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. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: Lizzylove1 on December 19, 2019, 07:55:52 PM Storing fund in bitcoin is fantastic because of some level of raskality from the government who use economic and social tools to repressing the already distressed citizens. In such a time Cryptocurrency era. The government do carry out too much stressful decision
Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: squatter on December 19, 2019, 09:16:50 PM 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. The use case is there, but we've got to be realistic about the limitations. Bitcoin still lacks the network liquidity required to facilitate required day-to-day capital movements, and reliance on the internet can be problematic in protest areas. Global Protests Reveal Bitcoin’s Limitations (https://www.coindesk.com/global-protests-reveal-bitcoins-limitations) Quote In the face of censorship and isolation from their countries’ financial and communication systems, protesters across the globe are testing out bitcoin and other decentralized technologies – then promptly discovering their limitations. Take Hong Hong, for example, where protests began six months ago against China’s infringements on civil liberties and ramped up on Monday at Hong Kong Polytechnic University as police detained 1,000 protesters. The former British colony would seem the perfect test case for an open-access financial system resistant to government interference. But that may not yet bet the case. Take for example, HSBC Holdings reportedly shutting down the bank account of Spark Alliance HK, a local nonprofit focused on civic engagement, because it was associated with protests and the bank was allegedly pressured by Beijing. The move reminded protesters and donors of the need to transact privately, one protestor, who spoke on condition of anonymity, told CoinDesk. Nonprofits like HKMap Live and Hong Kong Free Press already accept bitcoin donations. However, the Hong Kong protester added, “there is no [internet] connection in the protest area, no matter which service provider you used,” and protesters are generally not clear on how bitcoin would be used by individuals during a time of civil unrest. It is mostly useful for receiving donations from abroad that don’t require prompt liquidity. Plus, he said protesters who tried mesh-network devices, which basically bounce a message or transaction across a web of devices until it finds a device with internet access, found they were “not useful for a confrontational situation.” Although many protesters use Telegram because it allows chatting without revealing the users’ phone numbers, he said tools that rely on mobile data providers offer limited functionality in times of turmoil. As with protests in the Middle East, sources in Hong Kong said bitcoin and related technologies are not ready for usage in chaotic environments because the movement is still nascent and money generally relies on network effects. At this point, censorship-resistant technology can still be censored as long as it remains too niche. “People are moving their money abroad more,” said one Chinese bitcoiner with family in Hong Kong, who asked that her name be withheld for safety. “But it’s from bank to bank, like Hong Kong accounts to Singapore.” Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: makishart on December 19, 2019, 10:36:40 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.
Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: dothebeats on December 19, 2019, 11:00:00 PM Even though they can buy/sell crypto already in HK, I still think that it's unsafe for them to do so knowing that they can be setup for buy-bust and get their funds locked up. Also, the risk for the tellers dealing with bitcoin to the protesters would also be high and I don't think anyone would ever dare do that in the midst of the crisis. Lastly, bitcoin is not that easy to liquidate and it will take a long ass time before the protesters get their needed funds. It's just too risky even though the use-case is very evident.
Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: Artemis3 on December 19, 2019, 11:12:27 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. 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. The only way to stop it is do it North Korea style, which is basically a nation sized LAN with authorized content manually copied in. Maybe these new (low orbit) satellite based internet services would also enable circumventing the State censorship, IF you manage to smuggle in AND camouflage the antenna and receiver. China officially forbids stuff above their airspace, who knows what they would do if these become common. Money can't do much but keep the protests going endlessly. Neither they can liberate HK from the Chinese State, nor the Chinese State can completely end the protests. But time is on their side, the Chinese State side. From experience i know, protests fade when unsuccessful overtime. This struggle was lost the day they went back into China, rather than go independent or maybe join Taiwan, including the American military presence. It is too late now, and they only realize it two decades late. This situation can only prolong without any resolution, other than more and more oppression by the State. It was too naive of them openly piling sums of money in the banks. Did they think they had a right to protest? Not in communist China. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: minersday on December 19, 2019, 11:35:01 PM 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.
Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: Pearls Before Swine on December 20, 2019, 12:21:32 AM 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. 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. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: MURONDI on December 20, 2019, 01:15:00 AM 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.
Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: meanwords on December 20, 2019, 01:20:15 AM 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 Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: CryptoBry on December 20, 2019, 01:27:42 AM 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. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: Broly46 on December 20, 2019, 01:55:13 AM 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!
Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: blckhawk on December 20, 2019, 02:04:14 AM 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. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: Murat on December 20, 2019, 06:26:37 AM 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.
Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: squatter on December 20, 2019, 06:37:20 AM 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 (https://www.coindesk.com/global-protests-reveal-bitcoins-limitations) 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. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: buwaytress on December 20, 2019, 10:22:51 AM 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). Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: alyssa85 on December 20, 2019, 11:14:44 AM 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. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: BeManga on December 20, 2019, 03:30:42 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. 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 moneyBitcoin’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 (https://beincrypto.com/plustoken-ether-worth-100m-moves-striking-dump-fears/?utm_campaign=amba&utm_medium=social&utm_source=bitcointalk&utm_content=jc) 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. 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 Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: tsaroz on December 20, 2019, 03:34:25 PM 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. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: Oneandpure on December 20, 2019, 04:02:41 PM 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.
Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: kryptqnick on December 20, 2019, 04:34:45 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. 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.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 (https://beincrypto.com/plustoken-ether-worth-100m-moves-striking-dump-fears/?utm_campaign=amba&utm_medium=social&utm_source=bitcointalk&utm_content=jc) 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. 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. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: kotik085 on December 26, 2019, 04:15:02 PM 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.
Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: darkangel11 on December 26, 2019, 04:31:39 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. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: pixie85 on December 26, 2019, 10:00:01 PM 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. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: South Park on December 26, 2019, 10:30:48 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. 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.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 (https://beincrypto.com/plustoken-ether-worth-100m-moves-striking-dump-fears/?utm_campaign=amba&utm_medium=social&utm_source=bitcointalk&utm_content=jc) 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. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: jtraverso on December 26, 2019, 11:45:43 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 (https://beincrypto.com/plustoken-ether-worth-100m-moves-striking-dump-fears/?utm_campaign=amba&utm_medium=social&utm_source=bitcointalk&utm_content=jc) 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. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: Wind_FURY on December 27, 2019, 08:48:00 AM 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. They shut the internet down, they shut the whole country down. That should give the protestors more confidence that their movement is working. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: Getmon on December 27, 2019, 09:00:46 AM 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. They shut the internet down, they shut the whole country down. That should give the protestors more confidence that their movement is working. They shut the internet down, they shut the economy, communication, business and government operations, public transportation, and pretty much everything there is in Hong Kong down. That is committing suicide. And since Hong Kong is a financial state, an internet shut down will effectively converting it to an impoverished hermit state. An internet shut down is no option in an advanced world like ours. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: ganjamemon on December 27, 2019, 09:35:48 AM The protestors need to use global exchange wallet. This can be a great rid for other protests area. They can safe their fund from locking. Obviously all of them needs to use global exchange for exchanging Crypto and BTC.
Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: fullhdpixel on December 27, 2019, 05:04:27 PM That’s why Bitcoin is a really good option, assuming that they saved all that money Bitcoin they wouldn’t have been facing this kind of problem. The government usually tries to oppress the citizens because they have access to everything, and due to the power they have, they will use it to be doing things that will stress out their citizens which is very bad. But with Bitcoin, we have complete control and freedom over our money and the government won’t be able to do anything or even have access to it.
Recently when an England bank refused to return a big money to an African dictator, we had similar discussion but not seeming those big people are learning any lesson out of this forum. I believe there must be some high profile people here who are having conduct with such political and business people to guide them for finance especially bitcoin related. If that not happening so far, I guess in near future we can see people are switching over to bitcoin after seeing our discussions ;D. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: Wind_FURY on December 28, 2019, 10:37:34 AM 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. They shut the internet down, they shut the whole country down. That should give the protestors more confidence that their movement is working. They shut the internet down, they shut the economy, communication, business and government operations, public transportation, and pretty much everything there is in Hong Kong down. That is committing suicide. And since Hong Kong is a financial state, an internet shut down will effectively converting it to an impoverished hermit state. An internet shut down is no option in an advanced world like ours. Then use Bitcoin as a stateless, censorship-resistant store of value, and force the state's hand. Either decision, internet shut down or none, would be a victory for the movement. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: South Park on December 30, 2019, 07:19:40 PM That’s why Bitcoin is a really good option, assuming that they saved all that money Bitcoin they wouldn’t have been facing this kind of problem. The government usually tries to oppress the citizens because they have access to everything, and due to the power they have, they will use it to be doing things that will stress out their citizens which is very bad. But with Bitcoin, we have complete control and freedom over our money and the government won’t be able to do anything or even have access to it. What I do not get is why they were not prepared for this since this is one of the first things governments do to try to silence their opponents, they always go after the money and if they can cut you from your funds then you have no way to do anything, this also explains why governments are trying to limit how you can use your cash since it gives you similar freedoms despite the fact that cash is created by the government, I just hope that if more money is raised they now use bitcoin so this does not happen again.Recently when an England bank refused to return a big money to an African dictator, we had similar discussion but not seeming those big people are learning any lesson out of this forum. I believe there must be some high profile people here who are having conduct with such political and business people to guide them for finance especially bitcoin related. If that not happening so far, I guess in near future we can see people are switching over to bitcoin after seeing our discussions ;D. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: longyenthanh on December 31, 2019, 04:45:27 PM Bitcoin is not solution of every problem. What makes bitcoin an alternative to bank accounts? You can hardly buy anything from it in real life and its price is changing every now and then. Nobody will move its funds from bank to bitcoin wallet as mean of storage, since that’s a big risk.
Let’s not burdens bitcoin by declaring it as solution of every problem. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: kro55 on December 31, 2019, 05:03:00 PM I am sure if we are thinking like that then authorities in Hong Kong must also be aware of this move. Keeping bitcoin from an investment perspective is fine but keeping all your money in bitcoin is not a wise decision. You may get profit in the long run but your investment may be struck for an indefinite period of time.
Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: Chrystora123 on December 31, 2019, 05:26:39 PM Now that their funds were locked out, I think it's time for them to take Bitcoin seriously. my question is.. are they there already imposing Bitcoin as a means of payment, if not, it will be very difficult for them to get funding, because their local exchange will certainly work with local banks and it will be very difficult for them to withdraw the funds they have collected (if in the form of Bitcoin). 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. deviated from the discussion a bit.. I personally support their struggle, what they want is a country that is free and without intervention from other countries, whereas to this day, China still rules over Hong Kong (although not bluntly) Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: eaLiTy on December 31, 2019, 06:12:23 PM 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. The problem with digital banking is that the government will always control and have the power to freeze your account whenever they want without any warning and that can extend to other scenarios too, so the idea of digitization should be protested by any means as the purpose of digital transaction is to have complete control over their citizens.But how BTCitcoin can help in these scenarios depends upon how a government is open to the new technology and if they think they are bypassing their control through BTCitcoin then they will impose a ban for that too but they cannot freeze their account and that is an advantage but it will be difficult for them to access the funds easily with restrictions. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: crwth on December 31, 2019, 06:23:24 PM The link on your first post OP leads to a different link. I think this is the correct link.
https://beincrypto.com/hong-kong-police-freeze-10m-fund-for-protesters-bitcoin-becomes-a-more-attractive-option/ I didn't know that there are still protesting happening in Hong Kong and reading this news makes it sad that the government/police are in control of the funds and they are cutting it off so that the people would have no choice but to stop their protesting because of the lack of funds. I think Bitcoin would be a great choice, but I'm just curious about how they are going to cash it out because of there still businesses that doesn't accept cryptocurrencies in general. The other countries are watching, and I hope they learn something in this event that could happen if something like this ever to occur in their lands. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: Aikidoka on December 31, 2019, 06:25:20 PM 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. Money laundering and people who use bitcoin in some illegal activies are kinda huge in the whole world because bitcoin isn't trackable though and it allows them to be hidden from police. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: Yaunfitda on January 01, 2020, 02:53:59 AM The link on your first post OP leads to a different link. I think this is the correct link. https://beincrypto.com/hong-kong-police-freeze-10m-fund-for-protesters-bitcoin-becomes-a-more-attractive-option/ I didn't know that there are still protesting happening in Hong Kong and reading this news makes it sad that the government/police are in control of the funds and they are cutting it off so that the people would have no choice but to stop their protesting because of the lack of funds. I think Bitcoin would be a great choice, but I'm just curious about how they are going to cash it out because of there still businesses that doesn't accept cryptocurrencies in general. As far as I know the protest is still on-going and that's why Hong Kong authorities are really that desperate to stop it even going further to freezes $10M funds. Yes, bitcoin could be the only options for the protesters but they should be very careful on how to cash it out. The other countries are watching, and I hope they learn something in this event that could happen if something like this ever to occur in their lands. Pretty sure almost all countries are watching as to what is going to happen in Hong Kong. It is one of the worlds tourist destination and it's hurting their tourism and the country itself. And I think it will continue in 2020 and turning out to be a battle of attrition. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: Vishnu.Reang on January 01, 2020, 03:28:59 AM I don't know what Bitcoin is going to gain from all this. China is one of the most important markets for Bitcoin, and the number of users there is approx. 100 times higher than what we have in Hong Kong. I am not taking any sides here... the ongoing demonstrations and riots represent an issue for the Chinese government with the pro-democracy protesters on the other side. Bitcoiners should remain neutral.
Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: coin-investor on January 01, 2020, 04:03:39 AM 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 (https://beincrypto.com/plustoken-ether-worth-100m-moves-striking-dump-fears/?utm_campaign=amba&utm_medium=social&utm_source=bitcointalk&utm_content=jc) 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. What is happening in Hongkong and especially with that scenario is a good example of government-run investment forcing its people to follow them in exchange of not touching their funds in the bank, because the government knows that if you touch their money it will have an impact on their lives, investors here will think of Cryptocurrency option now, and this is an example why people should not put all their wealth in banks. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: joniboini on January 01, 2020, 04:05:18 AM Bitcoiners should remain neutral. What does neutral means? Ignoring the problem and continue living as it is? Pretty sure somebody won't be able to do that. I think there is a thin line between supporting their protest and supporting their well-being. They should be able to eat and rest well imo. This is where 'donation' can come into play and if fiat can't do that, Bitcoin will be the alternative. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: bitcoindusts on January 01, 2020, 04:27:33 AM I don't know what Bitcoin is going to gain from all this. China is one of the most important markets for Bitcoin, and the number of users there is approx. 100 times higher than what we have in Hong Kong. I am not taking any sides here... the ongoing demonstrations and riots represent an issue for the Chinese government with the pro-democracy protesters on the other side. Bitcoiners should remain neutral. What gain? Of course it is the people's sentiment. Once they hated the present bank system they will look for alternatives and Bitcoin is one of those. Having their own fund in their own wallet is always beautiful. Remember a long exploration always starts with first step and this one I think is another one step forward Bitcoin adoption. Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: msarro on January 01, 2020, 03:37:56 PM Hong Kong has a history of living under the leadership of UK and that’s why their youth think that protest will give them a solution of their choice but this is China now. I don’t think it’s a good idea to protest under the communist government of China. They have a history of human abuse for anyone who goes against them.
Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: altcointalk14 on January 01, 2020, 03:40:20 PM What else is the solution in this case? I think only bitcoin can help the remaining protestors to secure their money. But the question is how will they convert fiat to crypto? In china crypto exchanges are banned and I think same policy will be applicable in Hong Kong also. So it will be difficult to move your fiat to crypto there.
Title: Re: Hong Kong Police Freeze $10M Fund for Protesters - Bitcoin Becomes Attractive Post by: South Park on January 03, 2020, 06:17:57 PM Bitcoin is not solution of every problem. What makes bitcoin an alternative to bank accounts? You can hardly buy anything from it in real life and its price is changing every now and then. Nobody will move its funds from bank to bitcoin wallet as mean of storage, since that’s a big risk. Bitcoin is not the solution to every problem, that is true, but the characteristics of bitcoin make it a perfect solution for this problem, any movement if it wants to remain active needs money, and the protesters got some money but they made the mistake to keep that money in a bank account and now they have been locked out of funds that belongs to them for no other reason than their political dissension, if they had stored their funds in bitcoin then they will not have this problem.Let’s not burdens bitcoin by declaring it as solution of every problem. |