Post
Topic
Board Economics
Re: Hong kong and China war can lead to possible Bitcoin popularity
by
Betwrong
on 25/06/2019, 10:35:51 UTC
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.