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.