Hong kong and China war can lead to possible Bitcoin popularity

[stompix]

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

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.

[1715017044]

1715017044

[leavolnhals]

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/

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.

[Barbut]

-snip-

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.

[Betwrong]

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.
~

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.

[arbifahrozy]

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

[atliens99]

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.

[magneto]

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.

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.

[pugman]

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.

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.

[creeps]

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

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.

[beerlover]

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.

[Kemarit]

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.
~

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.

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.

[bitcoinposts]

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

[hatsoff2btc]

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.

[Irvinn]

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.

[bitcoindusts]

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.     

[stompix]

~

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.

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.

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.

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.


 

[guoyu78]

~

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.

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.

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.

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.

[samcrypto]

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 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.

[Betwrong]

~

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.

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.

~ 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.

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


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.

[cr1776]

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