Hong kong and China war can lead to possible Bitcoin popularity

[peter0425]

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.

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[aioc]

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.

[freedomgo]

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?

[RealMalatesta]

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

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.

[Vishnu.Reang]

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.

[TheCoinGrabber]

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.

[Muzika]

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.

[alter-securities]

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 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

[finaleshot2016]

Hong kong investors are showing interest on bitcoin this will definitely increase bitcoin price for sure in the coming months we may see more investors store btc in hardware wallets because of political uncertainty

it could be because even though both sides of the war would definitely have a negative impact on bitcoin too but to cause the popularity of bitcoin it's not because there are still countries that adopt or allow their citizens to use bitcoin like june, because the future has become a country after china bitcoin has developed very good there

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.

[Ranly123]

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/

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.

[alter-securities]

兄弟，我要告诉你：香港属于中国

你是对的！ 香港属于中国，现在属于中国，永远属于中国。

You're in the international section so you should speak English for them to understand what's your thoughts.
This is a discussion thread so we're hoping to have a discussion with you also.

Your post might get deleted.

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.

[darewaller]

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.

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.

[Woodie]

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.

[seraph_the_wise]

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/

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.

[tonyvo2017]

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.

[befriendmywater]

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.

[jaocoincrypto18]

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.

[topcryptodomains]

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.





 

[imstillthebest]

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.

All Hong Kong people are Chinese, so I don't think the two country will attack each other in war. Hongkong community is very welcome with China, both have a good collaboration. but besides that war between countries will be very beneficial for crypto, because there will be inflation, and other bad effects for local currencies and that will make the usage of crypto increase.

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   .

[guoyu78]

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.