[2019-08-15] Hong Kong Is Paying Higher Prices for Bitcoin Amid Political Unrest

[Carlton Banks]

Positive side of this bad news is that people will appreciate BTCPay Server more.

in this case, BTCPay is less/not needed


the beautiful thing about Hong Kong is that it's a powerful economy concentrated in a small geographical area. There will be a lot of opportunities in that kind of economy to transact only in BTC.

after all, the whole point of this phenomenon of using BTC in Hong Kong commerce is to reduce government (HK and Chinese) control, putting more power into regular people's hands. Any conversion to currency in a bank account is a risk under those circumstances (as if that's not risky enough already)

[layer1gfx]

if you use any company to exchange your money into BTC using banks it is all well recorded on the blockchain - for anyone to track.
i think only OTC / in person deals are truly preventing govs or any interested parties to get data on you.
hongkongers are smart so i guess they will figure this out as well.

[Tylev]

It seems that any destabilizing situation in a particular region, like the general economic crisis, will positively affect the price of cryptocurrency. Actually, this was one of the tasks when creating Bitcoin. It was also recently in the Asian region, with strained relations between the US and North Korea. Well, in this regard, the functionality of the cryptocurrency justifies itself.

[1Referee]

in this case, BTCPay is less/not needed

How is it less or not needed? A lot of commercial businesses and non businesses use centralized payment gateways for the sake of convenience. Every payment goes through a filter where these payment gateways analyze the risk of each transaction, even when the nature of the transaction is innocent. The need hasn't ever been more pressing.

BitPay & Co have done nothing but signal the need for alternatives such as BTCPay. The more businesses adapt the more freedom people and businesses  will have.

Speaking of such, Namecheap (largest domain registrar in the world) is exploring its routes to ditch BitPay after hundreds of complains of them being shady and because of their unfriendly checkout page. Several users have proposed BTCPay, so we'll see where it ends.

[Carlton Banks]

in this case, BTCPay is less/not needed

How is it less or not needed?

read the post, therein lies the answers ye seeketh

(tl;dr Hong Kong small with big economy, closed loop BTC-based economy easy)

[smallrigcn]

I also earn alot money from bitcoin yuppy

[hello_good_sir]

It's a good move, I'd recommend to any person residing in Hong Kong to pick up some of their own BTC and keep it for the future, China wants to control everything and having some BTC in your pocket is a good move and they'd never be able to take that away from you.

in this case, BTCPay is less/not needed

How is it less or not needed? A lot of commercial businesses and non businesses use centralized payment gateways for the sake of convenience. Every payment goes through a filter where these payment gateways analyze the risk of each transaction, even when the nature of the transaction is innocent. The need hasn't ever been more pressing.

BitPay & Co have done nothing but signal the need for alternatives such as BTCPay. The more businesses adapt the more freedom people and businesses  will have.

Speaking of such, Namecheap (largest domain registrar in the world) is exploring its routes to ditch BitPay after hundreds of complains of them being shady and because of their unfriendly checkout page. Several users have proposed BTCPay, so we'll see where it ends.

No buisness will accept a decentralized and unstable crypto-currency as a payment option, it's just way too risky on their site. Payment processors are able to provide a way for buisnesses to accept crypto-currencies without the risks.

[cr1776]

It's a good move, I'd recommend to any person residing in Hong Kong to pick up some of their own BTC and keep it for the future, China wants to control everything and having some BTC in your pocket is a good move and they'd never be able to take that away from you.

in this case, BTCPay is less/not needed

How is it less or not needed? A lot of commercial businesses and non businesses use centralized payment gateways for the sake of convenience. Every payment goes through a filter where these payment gateways analyze the risk of each transaction, even when the nature of the transaction is innocent. The need hasn't ever been more pressing.

BitPay & Co have done nothing but signal the need for alternatives such as BTCPay. The more businesses adapt the more freedom people and businesses  will have.

Speaking of such, Namecheap (largest domain registrar in the world) is exploring its routes to ditch BitPay after hundreds of complains of them being shady and because of their unfriendly checkout page. Several users have proposed BTCPay, so we'll see where it ends.

No buisness will accept a decentralized and unstable crypto-currency as a payment option, it's just way too risky on their site. Payment processors are able to provide a way for buisnesses to accept crypto-currencies without the risks.

Not just Hong Kong, but many places the world over.  And there are plenty of people who don't need to convert to fiat, if I was selling something, I'd take bitcoin and not convert.