Bitcoin (BTC) can be a way of escape for those who want to get away from the local financial community. In Hong Kong, it is currently quite messy with protests and harsh confrontation, over and over again.
The protests have been against the law to make extradition to China to face. There is a large group of Hongkongers don’t agree with that. This results in groups of people who have let their voices be heard against it and the measures to be taken.
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China
The protesters are against the influence of China in a short time on the skin and in the Chinese government. To prevent this, there is a use of cash. After all, you are more free in terms of payments if you are not in digital form via the bank doing it.
But for the most of the cash is you to keep an eye on, especially in a turbulent area such as the Hong Kong-for now. I consult regularly with a mask, and you are less likely to be captured in camera.
The protests leading up to the weekly injuries and arrests. Due to the violence, it is interesting to look at the alternatives which you have as little as possible with the local and central authorities.
Bitcoin
In this scenario, it is bitcoin in order to see if the alternative currency. Via LocalBitcoins you can get a deal set up for person-to-person. As a Marketplace for your old car, but in BTC.
If you have a relatively anonymously, you bitcoin, you can come to, is it an option for use in hazardous environments, still has the confidence to make transactions. A target of the Chinese authorities is a great chance that a bank does not come through. The long arms of the state, however, can accomplish nothing in the same network with BTC.
It’s not like that in Hong Kong, en masse switch over to bitcoin, but we’ll see what happens to a record volume this week. In the graph below, it is to see to it that it is going to be $13 million by trading volume in local currency in the last few weeks. And that is a record.
LocalBitcoins volume is in Hong Kong, according to the coin.in the city.
Anonymous
The Washington Post spoke with one of the protesters. They would like to be, only to be called by her first name, So. They should be in and out of the hands of the Chinese people: ”I will do everything within my power to remain anonymous.” After she got home from the protest with tear gas in her eyes, that she knew for sure: the Chinese apps on the phone.
Apps such as WeChat and Alipay were the victims, it has been used by the Chinese police in order to track it down. In order to enhance the safety of communicating are used, the activist Telegram. You have private messages on the platform are to be sent in coded form.
Bitcoin Magazine EN is in a group on Telegram.
Ability to
However, In some situations, it is the ability to make use of a distributed network of payment and store of value, almost a necessity. This is true for the above-mentioned So, but in Argentina, for example, Venezuela may be a good way out of it.
Not for nothing is the price on the local stock exchanges in Argentina last month, more than $2,000 to be higher than the current price in the world.
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