Do Hong Kong protesters use Btc for anything?

[thirdprize]

They seem quite a tech literate bunch, so I thought they might?

[YuginKadoya]

This could help if they do? we don't even know if they do, but if they do I think we all have the same reasons on holding it, and we can surely say that we all have different things we want to use it from I don't want to judge the protesters in Hong Kong but we all have different beliefs and they sure have the right in getting and earning Bitcoin as they have the right in protesting what they believe in.

[blckhawk]

They seem quite a tech literate bunch, so I thought they might?

China is known for one of the leading countries in the digital world. Just the sheer amount of electronics in their marketplace speaks for their dominance. Back to your question, they might use it to fund their protest, collect donations and payments from various sources though BTC to preserve anonimity and not be blocked by central banks before the fund even gets to them. Then they could contact suppliers of what items they need, transact through BTC and have their items delivered.

[mk4]

Honestly haven't seem news like Hong Kong-ers dumping their Hong Kong Dollars for bitcoin or something like that, and I don't see any "help HK protests by donating bitcoin" articles either. The help they're asking is mostly by signing petitions[1] and such.

With that said, I can see bitcoin being really helpful if certain Hong Kong citizens are wanting to leave the country. They can temporarily buy bitcoin, and convert it back to the local currency of the country they're moving to.

[1] https://www.reddit.com/r/HongKong/comments/cv0ws4/how_can_you_help_hong_kong_protests_from_abroad/

[Artemis3]

Honestly haven't seem news like Hong Kong-ers dumping their Hong Kong Dollars for bitcoin or something like that, and I don't see any "help HK protests by donating bitcoin" articles either. The help they're asking is mostly by signing petitions and such.

With that said, I can see bitcoin being really helpful if certain Hong Kong citizens are wanting to leave the country. They can temporarily buy bitcoin, and convert it back to the local currency of the country they're moving to.

The HKD is probably too good a coin for them to bother, but your comment is the best. If you have a family fortune, rather than bother with banks, move it all to bitcoin while keeping the spare minimum for the trip, and at destination only exchange what you really need for daily expenses.

Leaving is the wisest option, the central government isn't going to back out, protesters have no chance in China, just see the rest of the country*, this is where HK is headed and they can't stop it.

* Except in Taiwan, because there are Americans in the way.

[dothebeats]

No known or recorded statistic for such, although of course we won't know for certain knowing that there aren't really someone who's going to track all of the ins and outs of bitcoin in the  oppressed Hong Kong region. The situation over there is chaotic and messy, that normal day-to-day life is hard to accomplish and going to your local store would be hard given that protests are all over Central and other major urban parts. Most likely, Hong Kong citizens are sticking to their credit/debit cards and online wallets for purchases and are just staying at home for the most part of the day, and while it seems the bitcoin would fit perfectly to their ordeals, there doesn't seem to be any genuine need for that atm.

[ChrisPop]

You might think that the asian people are more inclined to use the new technology, just because their cities are the most technologized and we all know that a lot of hackers and good programmers are asian. It seems like they have an affinity for tech, idk.. But I am yet to see an official statistic about this.

HK is big business hub and I'm sure there are many people out there who do use & love Bitcoin. However I don't see the relevancy. For sure we need as much adoption as we can get, but HK is not big enough to make a major impact unless an investor with really deep pockets decides to make a considerable investment into BTC.

[BlacksmithCorporation]

I think they can use it to put pressure on the government. Hong Kong protesters have announced plans to withdraw their cash from the banking system to protest excessive interference from China. Bitcoin could play an important role in these protests in the near future.

[josephdd1]

Bitcoin is definitely one of the tool's used by those that are under the thumb of the government.

I think I saw a report that the number of Localbitcoin registrations from HK significantly increased during the protect, then it was later revealed that this was likely an error.

That being said, there isn't much need for it during protests, they tend to just start using anonymous communication apps more (like Signal).

[Kyraishi]

Yes OP, they definitely do, even if it's just for storage of value, people really understand what bitcoin does and a lot of them think it's a better investment then holding the HK dollar.

Honestly haven't seem news like Hong Kong-ers dumping their Hong Kong Dollars for bitcoin or something like that, and I don't see any "help HK protests by donating bitcoin" articles either. The help they're asking is mostly by signing petitions[1] and such.

With that said, I can see bitcoin being really helpful if certain Hong Kong citizens are wanting to leave the country. They can temporarily buy bitcoin, and convert it back to the local currency of the country they're moving to.

[1] https://www.reddit.com/r/HongKong/comments/cv0ws4/how_can_you_help_hong_kong_protests_from_abroad/

I think there has been a media outlet that has asked for donations via crypto-currencies, I can't remember exactly, but they definitely have worked with BTC previously.

It looks bright for bitcoin in HK, especially if this issue can be solved, they definitely have the people and technology to make something happen.

[bittraffic]

Its not sure of they are the ones buying in localbitcoins. Probably not.

The Chinese buying BTC from Hongkong are the rich residents in Hongkong who are too afraid to seen by the mainland china's government because of the wealth they hide.
The protesters are there just to make sure the rally continues, they are becoming violent which is why people in Hongkong are alarmed if Chinese government are actually behind these protesters because that will give them more reasons to control the situation.

[gentlemand]

Apart from all that press about the HK press being cut off from Bitpay I haven't seen much. And they have rather bigger fish to fry than money.

What they need is some sort of decentralised internet or communications system. I've seen vague mentions of something along those lines but I've no idea how it would work.

[harizen]

Been to Hongkong last year for a vacation trip and I saw some bitcoin logo/stickers (on some establishments etc.) in a nearby place where we stayed for 3 days. It's on Mong Kok. Too busy to explore around the area so I'm not sure if there's a store accepting bitcoin as payment since we are following our itinerary and once we get back on our transient at night, completely tired so less time to take a quick stroll around the area.

And for that, I can assume that those HK people/protesters are using BTC, especially nowadays with their current status.

[drumamat]

No idea, but there aren't many news about Hong Kong protesters use or accept Bitcoin aside from organization such as HKFP.

Even if they do, i doubt they'll say it loudly since they don't want to attract unnecessary attention.

I thought the protests were over.As for the use of bitcoin, it does not really make sense.Other methods can be used to obtain funding.Although nothing can be ruled out.The world is changing and with it the way protests are conducted and financed.To be honest I would not want it to be true.

[kryptqnick]

Honestly haven't seem news like Hong Kong-ers dumping their Hong Kong Dollars for bitcoin or something like that, and I don't see any "help HK protests by donating bitcoin" articles either. The help they're asking is mostly by signing petitions[1] and such.

With that said, I can see bitcoin being really helpful if certain Hong Kong citizens are wanting to leave the country. They can temporarily buy bitcoin, and convert it back to the local currency of the country they're moving to.

[1] https://www.reddit.com/r/HongKong/comments/cv0ws4/how_can_you_help_hong_kong_protests_from_abroad/

Nevertheless, there've been various articles suggesting, at first mildly and later on strongly, that usage of BTC in Hong Kong exploded. For instance, here is an article about a department store and some other places in Hong Kong that started accepting BTC recently. While looking for those articles now, though, I noticed that the views have changed. Instead of articles about direct connections, it seems that the articles saying that it was a mistake seem more popular... So know I am honestly confused. It's clear that something happened in Hong Kong regarding Bitcoin. And some people connected it with protests, while others rejected the idea. It makes perfect sense to me why protesters would use Bitcoin, but it does not mean that they really do that.

[hello_good_sir]

From previous trips to Hong Kong, I remember them actually being pretty advanced when it came to cryptocurrencies and bitcoin adoption, when I went there to go shopping and blow some money, there was a mall where every 4th shop seemed to accept BTC, although I would never buy anything (since they priced BTC lower then it was and also there was an extra transaction fee you needed to pay), it was a fun experience.

I believe the HK press had an issue with Bitpay, but that's the last thing I remember happening to them.

[ice098]

From previous trips to Hong Kong, I remember them actually being pretty advanced when it came to cryptocurrencies and bitcoin adoption, when I went there to go shopping and blow some money, there was a mall where every 4th shop seemed to accept BTC, although I would never buy anything (since they priced BTC lower then it was and also there was an extra transaction fee you needed to pay), it was a fun experience.

I believe the HK press had an issue with Bitpay, but that's the last thing I remember happening to them.

I think they are choosing bitcoin over using fiat because it is more convinient to them , when they want to leave their country it is easy for them to access their accounts and also I have heard that banks are close now in hongkong , they would rather choose to spend bitcoin in purchasing goods because they cannot use fiat coming from banks.

[adzino]

They seem quite a tech literate bunch, so I thought they might?

Like why? Why do you think bitcoin is going to help them? Yeah it might start helping them if the government starts confiscating their assets and money (which I doubt they will since it will spark more outcry) or freezing their funds. Bitcoin  might become really useful for them during that situation. Otherwise I don't see any way bitcoin helping them in the protest or giving them any advantage.

[Wintersoldier]

Like why? Why do you think bitcoin is going to help them? Yeah it might start helping them if the government starts confiscating their assets and money (which I doubt they will since it will spark more outcry) or freezing their funds. Bitcoin  might become really useful for them during that situation. Otherwise I don't see any way bitcoin helping them in the protest or giving them any advantage.

authorities are also will not allow these protesters to have their alternative optiom whnever their fiats could be compromised or freezed. I am wondering at the same time afraid if Hongkong government will also ban the use of bitcoin in their vicinity for a while because of these protesters. Though my speculation is quite impossible to happen as bitcoin's decentralized characteristics is so effective that even Hongkong do their best to freeze bitcoin transactions, people can still find a way to transact using bitcoins

[mk4]

I think they are choosing bitcoin over using fiat because it is more convinient to them , when they want to leave their country it is easy for them to access their accounts and also I have heard that banks are close now in hongkong , they would rather choose to spend bitcoin in purchasing goods because they cannot use fiat coming from banks.

I'm pretty sure they're still using their local fiat. Even if every single Hong Kong bank closed, they can still freely use their physical cash.

Even though chances are that the Hong Kong banks closed is mainly for security/safety reasons and to probably prevent bank runs, it's completely understandable why some stores suddenly accepted BTC. If I were in HK, I'd be scared that the HK Dollar might potentially crash sometime in the near future.