Hong kong and China war can lead to possible Bitcoin popularity

[omone1]

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.

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[BitHodler]

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 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.

[bitcoinisbest]

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.

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.

[redsun114]

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.

[stompix]

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 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

I hope it just end in war of words which is normal between two nations.

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

War is never the solution as it takes economy back for both the counties and also the world economy falls due to such tensions.

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

[FanEagle]

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.

[costanos02]

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

[pushups44]

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.

[Febo]

Hong kong and China war can lead to possible Bitcoin popularity

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. 

Just another small win for the small guys. 

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.

[ityandsyn]

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/

      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 .

[indrakusumaindra]

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/

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.

[South Park]

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.

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.

[sandra_x]

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

[yohananaomi]

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/

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.

[pugman]

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.

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

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/

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.  . 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.

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. 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.

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

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

[farwellbit]

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/

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.

[dothebeats]

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.

[CryptoBry]

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.

[justdimin]

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.

[RealMalatesta]

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. 

Yes, I also saw them being just a war of words, not a real war.  And I also think, this will not really affect the existence of Bitcoin in general.  Conflicts between countries like this are common in the world, and that also does not affect the value of 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.