Quote from: Wind_FURY on September 04, 2019, 09:24:26 AM

Are there Bitcoiners in Hong Kong? How is the situation over there? I believe it should be Bitcoin's time, and help protesters in collecting donations, and help move value in Bitcoin.

I can't help but play the devil's advocate here given the phrasing of OPs statement. It seems as if the objective was simply to "collect donations" and "help move value in Bitcoin."

We are talking about the destiny of a people here and not merely the opportunistic tendency to take advantage of this simply to "move value in Bitcoin"

Replace Bitcoin with guns and you see what I mean.

"Are there gun owners in Hong Kong? How is the situation over there? I believe it should be time for citizens to have guns, and help them in collecting armaments, and help move value in the military industrial complex"

Let two issues, be two separate issues. Let the Hong Kongers define their fate. Bitcoin is apathetic. That's the hard truth.

Point number 1. IF the Hong Kong protestors feel like they need Bitcoin, then by all means, Bitcoin should be the best alternative they have against their current fiat and banking system. Anyway, it is still far from possible to live life entirely on Bitcoin. There are many problems when it comes to the collection in the form of Bitcoin donations. Why? Because you still have to trust multiple parties. Who are you going to trust when the HK movement is decentralized?

Point number 2. I don't quite recall how many miners are operational in China right now - but I believe most miners are manufactured there? And if the miners are asked to leave China - then that goes to show that it was once a powerhouse in terms of hashing power. Maybe it still is. I don't know. But if it is, then wouldn't the threat of a **seceding territory** using an alternative cryptocurrency, give rise to aggressive interest from China's cyber ops? And if they are planning on launching their own cryptocurrency, does this mean that they have enough hashing power to actually launch a 51% attack on Bitcoin if they decide to configure it for such an endeavor? China is one of the major cyber security threats.

Point number 3. Bitcoin is not 100% anonymous - it is pseudonymous. Actual companies actually try to de-anonymize Bitcoin transactions using complex algorithms all the time. I would think that China's IT capabilities and infrastructure place it in a position to actually accomplish a possible 51% attack if they wanted to. But who knows.

Point number 4. Even if donations were done in Bitcoin, where are they going to spend it on? Are they going to create an alternative government? This is highly politically-economically charged.

Remember, under the Sino-British declaration which mind you was ratified in the United Nations, Hong Kong is technically a part of China. And China is a member of the UN Security Council.

In theory, and only with the purest of intentions, Bitcoin along with some privacy coins offer a viable alternative. But the human element always comes into play. Where to spend? Who to trust?

Even if it became successful somehow - there's always the threat of People's Liberation Army troops knocking the heads of protestors until they divulge their private keys.