The Hong Kong Police, working with China, has frozen a major fund that was intended for arrested and injured protestors. The case for financial freedom with Bitcoin has never been more clear.
Bitcoins popularity always seems to spike when peoples wallets are directly affected. Throughout 2019, weve seen multiple fears of bank runs and ATMs running out of cash during crises. In October, BeInCrypto reported that Chilean ATMs were reportedly locked during a state of emergency. That same month, Bitcoin trading volume ballooned as Hong Kong residents found themselves locked out of ATMs.Source link hereNow that their funds were locked out, I think it's time for them to take Bitcoin seriously.Storing them in banks is such a bad idea, especially if they are using it for protests. If they could have stored it in Bitcoin, the police and government cannot stop them as they do not own or control the blockchain technology.
Bitcoin took out the third party or intermediary in peer-to-peer transactions, and this is what Hongkong protesters should need if they want to keep their funds safe from being frozen.
This is Bitcoin's time now. We're not just focusing on the price itself, but how can it be used without the risk of having our funds frozen.
I've seen various articles about Hong-Kong protests and Bitcoin, and it seems that it's at least unclear whether the two are directly related and whether it's the protesters actively using Bitcoin. I mean, it would make sense for people who want to keep their money safe there, but such thoughts might be present in the minds of people in Hong-Kong, living in the uncertainty of the situation, rather than protesting, as well. And where there's some sort of chaos and war, there are always people finding a way to profit from it, so the traders of Hong-Kong might be doing that.
And speaking of it being Bitcoin's time, there's also a solid problem. If a person wants to use the money for something in Hong-Kong, not to just secure some savings for the future, then the problem with Bitcoin is that it's probably not accepted as payment in most places, so buying something with it can be troublesome.