Bitcoin Forum

Some countries now ban the use of Bitcoin, or banks restrict cryptocurrency transactions, resulting in an increase in the number of long-term Bitcoin holders.
For example, in China, China prohibits the use of Bitcoin. If I were Chinese, I might be more anxious. Some ways can be found to avoid being caught by the Chinese government. I will consider putting it in a cold wallet. In this case, you can only choose to hold for a long time. After all, there is no exchange to trade,
So will anyone give up Bitcoin?

Of course. When a country puts strict rules or bans concerning bitcoin (especially freakin communist China), it's guaranteed that there will absolutely be fear. While there might be a lot of them that like Bitcoin, I'm pretty sure they wouldn't want to be put into concentration camps.

I would prefer to shift everything to paper wallet and hide it somewhere safe where only i can access. Then i would just wait out for the whole frenzy around Bitcoin ban to fade out before accessing my wallet again. Of course, the ban on Bitcoin wont last a lifetime in any of the countries (except China). This ban on Bitcoin is going to be something similar to ban on whisky, which was lifted.

Maybe some people will still be able to use it even if there's a ban, I mean people always try to find a way to access something no matter how prohibited it can be right? So I don't think that bitcoin is going to be an exemption. Also, they can also try and migrate to places that doesn't have any prohibition on bitcoin and other cryptocurrencies.

That entirely depends on the law itself. My country is also planning for such laws to ban bitcoin or any virtual currencies not issued by Government. But I will see the law in details once it is signed and published.

If the government mentions about punitive actions aginst holding of cryptos, then definitely I will have to sell off my bitcoins during the exit period so that I don't stand against the law.

So it really depends on what the law says!

That is not the case for some if not most actually because when they know Bitcoin is going to be banned by their government, they sell because they know prices are going to dip. The persons who hold despite their knowledge of the incoming ban, probably really planned to hold their BTC for the long term. Maybe hoping the ban is just temporary. China wasn't banning BTC but only the institutions are banned in using BTC but people are some allowed.

Give up? there has been banning happening for long time now but did people gave up? nope you are wrong instead this made people more interested and more curious on how and why this is happening.

I think only weak and noob that can make such action but majority will keep pushing the holding and use of bitcoin.

I will not give up on making more bitcoin because bitcoin really helps me to make money.
Even if my government prohibits people from using bitcoin, I think I can find the other way to make bitcoin still and just hold it and wait for the right time to sell.
With many options to sell bitcoin, that will not stop people from using bitcoin and converting it into fiat because they already get the advantage of using bitcoin to use bitcoin still.
But if there are no exchanges to trade in all countries, bitcoin will lose popularity and people will leave bitcoin.

Well they'd definitely have a harder time trying to access centralized exchanges but I don't think it's enough to make them give it up. If they had absolutely no choice though then giving up is the only option though I don't think it's possible for that "absolute" to actually happen. China though can be difficult to escape from if you want to trade, but it isn't really impossible, just pretty hard. It all depends on whether they think that holding on to Bitcoin even with the ban the country has is worth it or not.

I think when there are restrictions about a certain commodity its a clear indication that the government seeks to gain autonomy and total control of it and if the can't the try to restrict it's citizens from it. For Bitcoin I would rather store mine in a cold wallet and hold if the restrictions persists I accumulate as much as I can then make plans of relocating to a safer environment where I would have freedom to carryout my transactions

If you was a Chinese person, then you would have been anxious a long time ago even in 2013 when China did its first crackdown on BTC. Guess what, every crackdown the Chinse just move on and do business somewhere else. Look no further than wechat trading groups for Bitcoin or if you want,,, see Changpeng Zhao the Chinese CEO of Binance who publicly talks about crypto every day.

I have a believe that there will always be a way to transact bitcoins whether or not there is a ban. The only difference is that people are free to use bitcoin without fear of prosecution in countries where there are no ban.
An example is the case of Nigeria. When cryptocurrencies were banned, the users resorted to P2P for daily bitcoin transactions.  Of course, exchanges could not allow the deposit of the Nigerian Naira but that wasn't really a problem as people just bought USDT via P2P

We have reach 10 years already, I don't think just because some communist chooses to go anti-bitcoin, that anyone will give up their bitcoin. I'm pretty sure that there are still lot of Chinese whales still holding regardless of their government hard line stance against bitcoin.

And for those investors who lived on a bitcoin friendly country, obviously nothing has change, they can trade, and HODL. And there are data that there are less bitcoin in an exchange, meaning investors now prefer to HODL long term or continue to accumulate at this bear cycle.

Answer is no, how could they give up on somethings which gives them good profits so expect them to stay even if there government try to impose ban on bitcoins on their county. Also  you shouldn't be worried about on internal things since you can still exchange your crypto to fiat if you are worried about exchanging it and we can select some option on the platforms or do p2p but deal only  with legitimate users.

They used this for so many times and yet many people from country ban's it using this for good reasons so there's really no excuse upon adopting  it even if the government warn us about its usage. but aslong as we are silent  and doing the right thing dealing with cryptocurrency then we can say choosing  to quit is a bad choice.

Isn't it ironic, every year they say that they don't like bitcoin and will ban them but that didn't still happen and they still have the largest number of miners. Everyone even Chinese citizens are aware of bitcoin's potential in the future so I'm sure they won't just give it up easily. Bitcoin is untraceable so the Chinese government can't just accuse someone of holding bitcoin. And online exchanges are not the only way to trade it, people can do otc trading without having to use those centralized exchanges.

I am so sure that right now, there are still many Chinese who are holding Bitcoin and they are doing it behind the suspecting eyes of the freak-control government. Of course, many of them can choose to sell before the crackdown or just instead hold what they have for the long term until such time there can be a way for them to exchange the coin into real cash. However, this can be different if a hodler has real money because he can choose to be a tourist outside of China and do the transaction in there...some can just go to Hong Kong where the crackdown has not yet started big time.

There are no studies, but in recent years there have been repeated bans on cryptocurrencies in some countries and you could not see that there was less trading in crypto. Partly the opposite was the case, as countries mostly introduced such bans to avoid capital flight and not to weaken their own national currency. In China, for example, this led to even more crypto being bought.

I don't think they have achoice if their government bans bitcoin. They will be subjected to law violation if they got caught using something illegal. It's a simple question actually. What I don't get is why ban something that is widely being used in some other countries and used by people in their country as well. Surely they can do something to adapt in using it rather than prohibiting their people to use it.

They can reverse their bans anytime.

Bans or restrictions are temporarily and it sucks if you know nations are participating in their own hype trend, CBDCs. You should know CBDC will not be launched without the contributions from bitcoin and cryptocurrencies in the past 10 years.

They learn from Bitcoin and try to say Bitcoin is sam, bad, virtual just to claim their CBDCs are better.

I think that some people would rethink and possible give up any involvement to crypto, if doing so will be subjected to some legal violations in their respective countries. For instance, when China announced its move to ban crypto, has made an impact to market price, thus it can be interpreted that there are number of Chinese who gave it up, temporarily hopefully. If I were to be in this situation, I would also lessen any trackable involvement with crypto but would not really give it up.

     The title was quite misleading. I initially thought that you meant that the people who ban bitcoin in their countries are the ones who would give up bitcoin but after reading the contents of your post I understood that what you meant in the title were the people in countries where bitcoins have been banned. And the answer to this is no. People are naturally greedy, specially about things in which they have invested something be it money time or effort. Let's face it, as days pass, the cost of living is increasing and if we rely on traditional ways to earn, then we will surely be left behind and have an even harder time surviving compared to people who adopted the new ways. UNLESS, you are already a billionaire. But for the majority, I think they would rather risk it. Even others kill for money, how would regulations stop a man in need then? Would they put even greater efforts in catching people trying to earn this way instead of chasing larger criminals who do much worse crimes? -my two cents.

Our country does not have this Banning issues so meaning we are free to do whatever we wanted as long as we are not violating rules and laws.

But if time happens that we banned crypto currency? then i will keep my stands holding and will just let my coins inside my wallets.

from there I am sure that there will time comes that the government will reconsider their decisions , or the next administration will do so,

These kinds of scenarios have been happening since the day bitcoins introduced to the public. there are lots of criticisms where everyone almost warned all the people not to engage in it. However, since the reality of bitcoin has not been created to be that way, people clearly realized that all of those accusations are pure lies and the moment they realized such crucial facts, they've just wasted their opportunity to invest in bitcoins at its early stage where the price was still under $1. This is just some normal even and I'm pretty sure you too will understand that this won't affect bitcoins publicity at any point.

As long as you don't move your coins, the government won't be able to find out who owns them. But at some point, you need to convert your coins to fiat. If you own considerable amounts, then the safest option is to travel to a country where Bitcoin is 100% legal (such as El Salvador and Japan) and sell the coins there. But small holders can't use this option. It is not economically viable for them to travel to another country, just to book their profit. And this is where it gets risky. They can always go for P2P platforms, but there is no guarantee that the government won't be able to track them.

We could easily say that, well, if we're not talking about communist China. China is simply a different beast. Heck, even the usage of VPNs(if you're using it specifically to bypass the great firewall of China) is illegal.

it already happened actually at the beginning when crypto become popular in the internet and gained attentions all the round the world. Because suddenly some government became against in it after knowing that there's a bad side with crypto., reason some enthusiast who are interested to make money with cryptocurrency preferred to buy and hold bitcoin for long term because there's no choice for them as its prohibited in their country.. Actually i don't know how they trade and convert it to real fiat. Because how is that possible if it's illegal in your country ? until now its a big question for me. Lol  maybe they're using vpn that time..

Well not too anxious for me that I would not consider finding alternatives of how can I get more Bitcoin actually. There are more ways to get Bitcoins even if the government prohibits it.
Use VPN or just do a P2P trade with other people around your area. With the combination of both, it will feel like the ban never happened in the first place actually.

The element that pertains on this subject is one that I agree with. No matter what challenges the government throws at people there will always be some who will try to resist. So, it is my opinion that people will not give up crypto holding and they will do what they can to maintain a foot in it because it has proved itself at least twice already ;)

I think it depends on many factors. If we're talking about China, it has an authoritarian regime, which means people will probably follow the rules. However, it seems that for now individual usage of cryptos as well as production (but not usage) of mining equipment is allowed there. If it's not allowed, I think the behavior of the majority of current crypto users in China depends on how much of a crime possessing cryptos becomes. If you get fined below $100, I think many will keep using it. If you can get imprisoned, most would probably quit using it.
If usage of cryptos is going to be restricted rather than outright prosecuted in China (similar to how many websites are blocked, but you can use a VPN  (https://www.comparitech.com/privacy-security-tools/blockedinchina/facebook/)to access them, and it's not illegal even), then most will probably continue using cryptos there.

It is not new. we all know that several countries in the world still ban or don't legalize Bitcoin. And moreover, they are against Bitcoin and spreading more FUD in order to stop Bitcoin. But, can they?
No, of course.
they may have some impact on Bitcoin, but they cannot stop BTC.
we cannot also force them to like Bitcoin and another crypto. it is not only countries but also some people also dislike Bitcoin because of certain interest and also goals.
however, I am sure that this is about time, there are many countries that have legalized Bitcoin after some years banning BTC.

The countries that will ban and give up bitcoin will usually depend on that country bitcoin will give up if it is not valid because they will not be able to transact. In addition the central bank has warned that customers transacting through online networks may face various risks including the potential financial and legal risks of virtual currency. Asked whether the bank would take any action on bitcoin in the future he said the bank has no plans yet probably a factor as to why they're doing so poorly.

In countries where bitcoin is banned, person to person transactions become a popular alternative, because it involves only two parties without any need for an exchange or middleman, decreasing the risks of being spotted by the government, although it's also a very risky deal depending with who the person is trading, since the other person can be a scammer or a bitcoin trader who do it often with many different people, increasing the chances of being already tracked by authorities.

Even though it's possible to deal with bitcoins in a country which is hostile to crypto currency, it's a very nasty situation, because people need to do it in secret and always worrying about being caught. There isn't naturality or satisfaction on it. I really feel sorry for people who live in such countries and have to pass through this situation to be able to deal with bitcoin.

That's more of an individual choice. When a country decides to ban something the citizens only have two options.
Either follow the law and stop using that thing or go against the law and still use that thing illegally. So the citizens would have to choose which one they prefer.
I would probably sell some and keep some for the long term if such a situation occurs in my country.
Giving up entirely would be a bad choice in my opinion. These are the tactics the governments play and we shouldn't fall for such traps.

if I was a Chinese citizen and something like this happened to me then I would use p2p exchange...

Besides that, if p2p is not possible, then I will hold it until the government changes its policy. only these two methods that I think are suitable for me when these conditions happen.

If it were me, I would continue to participate in the BTC market because I am not afraid of any prohibitive regulations in my country, it seems that some people give up because of fear of the law but I myself have never given up leave this.

There will be some that will prefer to sell their coins before the ban takes place or a little bit after it comes in effect, this is completely natural but if I were in that situation I know that I will just hold my coins, after all if you are just holding your coins then there is no chance that you are going to get caught unless you openly admit that you are holding bitcoin, and then two things can happen, bitcoin is made legal once again or the price of bitcoin is so high that you can justify moving to another country and sell your coins there.

Short answer is yes. Some people fear the so-called consequences and decide not to take the risk. They are part of the minority though. The majority don't care about such threats and continue trading.

If they aren't able to trade through exchanges, they move to P2P platforms. If they aren't able to trade through P2P platforms, they shift to OTC trading. There are other solutions too in order to evade the ban.

Naturally any legal unfriendliness towards crypto is going to dissuade certain people from participating in the space... the important thing is that so long as this is not universal it's not going to get in the way of further adoption of bitcoin and crypto.

I guess the title of this thread, or rather the answer to the question severely depends on the penalty you have to fear and the necessity you might have to use Bitcoin. For some people in some countries Bitcoin might be the only option to bring to their assets to safety. If the penalty is low enough you might ignore regulations.

However, the countries that do Bitcoin aren't really known for being easy going on those who break the law. I am not so sure if I would try to play around with the Chinese government to be honest.

It is a sad and regrettable situation when a country prohibits bitcoin and it makes no sense to take such actions unless it is clear when it is a dictator country that wants to take control of its people. china, russia are and many countries in africa are countries with dismal governments where there is democracy in disguise, high government control over its citizens. but if we look at the evolution of bitcoin we can hope that in the future at least most countries in africa and the world (except from china and russia) will be able to accept bitcoin without any problems.

my advice to people living in china would be that if you have any business related to bitcoin that generates a lot of money then the best choice would be to leave china and live in a bitcoin friendly country, because i doubt that in 5 to 8 years china accept bitcoin

If there are no other known alternatives to trade or use btc directly for transactions then maybe such people may consider given it up to avoid any punishment this might bring them, once a government of a country is determined to impose restrictions on certain economic activities in a country, they often try to make such restrictions very hard for anyone to penetrate or to bypass, they can use their power to frustrate the citizens into given up participating in crypto, if there are no possibilities to trade or use btc then whatbis the essence of holding! I think the only option is to relocate to a more crypto friendly country,  for those who can.

we cant say long term because the duration for the ban can be shorter than what we expect .
it can also be a blessing in disguise if the ban runs longer because this can make us hodl longer if we never did it before and by the time the government is ready to accept btc again , the value of btc have soared up much . no point of giving up as long as we are breathing and as long as btc was legal on other countries .

People who ban Bitcoin?
As far as I understand, only the government can ban Bitcoin in a country.
Please check again your sentence, I guess something wrong there.  ???

If in a country, Bitcoin is prohibited by the government and banks are following to restrict the transaction related to Bitcoin, surely people who are holding Bitcoin to feel worried. What for they holding it if they cannot transfer the profit or convert it to their national currency. In this situation, I think many people will leave it gradually.

Doesnt mean that if bitcoin is banned on your country there are no other ways or methods that you could sell off your coin? You can always do p2p and due to decentralized
characteristics of bitcoin then tracking every movement would be nearly impossible so im not seeing for it to be a main concern and also you can always opt in to hold
and accumulate even if its banned in your country and thats the beauty of decentralization.
You can find ways if you wanted to and not just easily give up and act that its over when it gets banned on a certain place.

An easy answer.

It is money and investment why would people from those strict countries will give up? they can go to other countries where they can trade and sell it without any problem.

Have their money remitted to any of their relatives on their country.

I have friends who come from countries that have banned Bitcoin, but they can still own Bitcoins and can easily sell Bitcoins whenever they want.
This means that there is always a way to still be able to use Bitcoin, even though our country has banned Bitcoin. So if it turns out that our country
decides to ban Bitcoin, never give up on having Bitcoin, because there is always a way to keep buying and selling Bitcoins.

Yes, there are other ways how to use their crypto. Also, for some who believe that their country will change their stance on crypto in the future, they will just hold it for long-term. And for others who have relatives outside, they can easily transfer it to them and just get their fiat back. I don't think they will easily give up bitcoin, now that they know they can transact crypto without anyone knowing their activities.

When we live in a country, we're supposed to follow the law and the regulations of the country. Maybe we're much attached to the usage of cryptocurrencies, but when banned we need to go with the government's order. Beyond that what we do residing in the country is high risk. In such cases people used to get arrested.

If someone is having good volume of crypto holdings and there is unexpected ban/restrictions on usage, then the best choice is to move to some crypto friendly country and make use of it.

Never say give up. Bitcoin will not disappear, and I believe these banned countries will lift the ban one day. These prohibitions will only make people who believe in Bitcoin look for more ways to own Bitcoin. Bitcoin will become legal currency in future.

Maybe some timid people will give up Bitcoin and keep him in the wallet. After a few years, no country bans Bitcoin before he can use it normally,
or sell his Bitcoin in other countries and convert it into legal currency. So as not to be punished by being discovered,

Hello, your post is not rigorous. The Chinese government only prohibits Bitcoin mining and does not completely restrict Bitcoin transactions. Bitcoin transactions still exist, and will not give up the value of Bitcoin because of restrictions on Bitcoin transactions. I think The value of Bitcoin is far from reaching the height it should be. I will continue to hold and be optimistic about the development of Bitcoin. Blockchain has a reason for its existence, so it must have its value!

Even if it was to that extent of an outright ban on the entire trading of cryptocurrencies, I believe that there will always be options available to the people which if you are some worth bullish in Cryptocurrency the person might consider relocating to a crypto favourable place where they can sustain and continue trading and for those that are not, yes, HODLing in whatever form might be the best case for them until such a time there are favourable laws to crypto trading, however, I believe this is not the case for now so crypto trading can still go on in China as @Nora Olin has also mentioned but just the ban on mining.

Yes you can do p2p but that would tremendously limit the amounts that are traded. You are right it is still possible, but nobody in his right mind would agree to a p2p trade for a couple of thousand dollars or even more. That is just too dangerous I would guess.

I think you could still use technologies like store and trade on a decentralized exchange. The biggest problem would still be the on ramp situation then. I haven't been in that situation, but I think people can become quite creative and we shouldn't forget: where there is a need there will soon be a market. If enough people get into trouble, someone will most likely come up with a solution.

The tendency in other countries where they have banned Crypto currencies, seem to be that a whole secondary underground market (decentralized markets) have developed. Nothing is stopping you from buying something on a online market and importing it to your country, because it is very difficult to "Police" that.

People find ways to bypass these bans, by sending BTC to friends and family in countries where Crypto currencies are not banned and then having that converted to Fiat currencies and then having those people gifting it back to them.  ;)

You can also have a epic Bitcoin holiday in another country where Bitcoin and other Crypto currencies are not banned and you can spend your bitcoins at your hearts leisure, without 1 cent of your wealth going towards taxes for the country of your origin. (Their punishment for banning Crypto currencies) 

Nope. We know there are still many countries where Bitcoin and crypto is still banned but there are a lot of users who are still using Bitcoin. But it's true that there is too much fear among the users when Govt will identify them and put into jail. As Bitcoin is Decentralized, here Govt has no full control or tracing capability unless huge transactions are made by bank accounts or making any crime using Bitcoin.
Sometimes users from a banned country send Bitcoin to his relatives, friends living in a Bitcoin friendly country and send money from that country to their accounts.

I always believe that there will be strong Bitcoin holders. Since its inception, Bitcoin has experienced short-selling by numerous institutions, government suppression and restrictions, but Bitcoin still survived and became the leader of the blockchain. Status, countless plunges and suppressions will only make Bitcoin's future growth path go further and further! Just like the Chinese government's suppression of Bitcoin mining, it still cannot prevent Chinese users from continuing to trade Bitcoin. Bitcoin will never disappear. I also believe that there will be countless Bitcoin holders who have the same consensus as me. Will not give up Bitcoin!

this is the true challenge that is always faced by true bitcoin lovers, if a country enforces strict rules on bitcoin, I think a weak hand will let go of their bitcoin, but if true bitcoin lovers will definitely defend their bitcoin, they will definitely do everything a way to maintain their bitcoin, because there have been many challenges faced by true bitcoin lovers..

If this kind of scenario will happen (regulation of bitcoin and banning), I think most users will opt to hold for long-term and really hope for the best that regulation or banning will be just temporary and will soon be lifted. Just like any other banned things  whereas it was later on made legal again after a period of time. Otherwise, I think the users will try to convert the funds they have on their wallet to fiat money for assurance purposes that they will still be able to enjoy the fruit of their labor and patience. After all, there are so many exchangers available to convert crypto coins into actual money. That way, they were still able to utilize their coin's value.

Nonetheless, people will still find ways and opportunity to use crypto if ever worse comes to worst. They can use several methods not to be detected to avoid persecution. Like what they say, modern problems require modern solutions. 

I have friends from China and they take this advantage to Buy more for their Long term Holding .. i think depend on the people on how they look in the situation , some are scared while others are welcoming .

^ That was exactly what I am thinking of, for sure there are a lot of investors that still hidden their assets on a cold wallet which is a hardware wallet or even using Electrum wallet which is secure from anywhere. You can still hide while using BTC even if your country was banned BTC. I don't think those existing members will give up their assets, besides, they will keep it safe and store in a long period of time when their government change mind and accept later BTC. Nevertheless, there is no such tool that can give data of the total holder of BTC in china.

I guess that will not stop people in China from buying bitcoin because they now have many ways to continue accumulating bitcoin. They can buy and hold while they can wait for the next announcement from their government and I think China will lift the banned and allow their people to use bitcoin. But for mining, that is still difficult because they need to use renewable energy to run the hardware not to disturb the electricity reserve in that country. Hopefully, that ban will be only temporary.

The threat or the fear will surely hit some crypto enthusiasts yet those who are really faithful and hardly believe about bitcoin's potential will surely find ways to access and still be able to invest on it. No matter how much restriction the government put into a certain thing, many people will still find ways on how they can enjoy their freedom still regardless of the limitation being given to them. There will be few for sure that will give up on bitcoin as they find the current situation hopeless without even giving it a second thought that the banning might just be temporary.

Do not underestimate the capabilities of states, especially if states unite and adopt a common unified decision. So far, at the G20 summit, it was decided that cryptocurrency does not pose a threat to global financial stability, which means that states are not yet fighting it. Individual states sometimes do something haphazardly against the cryptocurrency. therefore, many people still have a false idea that states absolutely cannot do anything with cryptocurrency and that it will freely develop and move around the world. I am not saying that everything is that bad. However, there are problems and one should not close one's eyes to them. You need to methodically defend your rights to use cryptocurrency, otherwise it may one day turn into a big shock for this market and its participants.

Even though there exist now uniform law that ban crypto throughout the world, a lot of countries in which the government have reportedly fume toward the use of bitcoin are still witnessing some uptrend trade of the coin. Thanks to VPN and DEX. I do not think bitcoin use can be completely eradicated in any country, especially at the present moment that people are still exploring the technology and looking for the easiest way to trade and move crypto without internet.

The current law only targets miners and certain points of access to exchanges, but in general, the internet world is too full of smart brains to come up with software that evades these observations, members in these countries also just need to spend a little more time to understand the software and then, they also return to bitcoin as a daily life. Miners also don't give up when they are rich investors, a few days of empty equipment is just a holiday for them, they just need another secret place to build and this underground system will continue

I doubt when people hear that their government is going to ban bitcoin, they will be willing to hold their coins any longer. I mean there will be no "long term" bitcoin holders except for few that has very strong hands and believes that the ban will be reversed. Most of the holders will sell their coins and convert back to fiat. They wouldn't want to risk it or put their mental peace aside. But I doubt banning bitcoin will stop people from using it. I mean, how will the government even know if they use?

it may depend on which country we come from because there are several countries that legalize bitcoin and some have illegalized bitcoin, for example, some countries only prohibit bitcoin and there is no permanent legal stipulation like another mistake that leads to crime, this is only a banning process and it doesn't affect anything, as long as it's fine for us it's not a problem

Some countries are now planning to put restrictions on  crypto but banning it totally might be quite hard to be fully imposed. Investors and hodlers will definitely find ways on how to store their bitcoins without alarming the government. If they can hold it for long term sucessfully, then bitcoin enthusiasts will continue to keep it in their cold storage. So this only proves that even bitcoin is at a stake, people will definitely chose to still keep it for profits purposes.

When bitcoin first time covered $17k then china government banned bitcoin but when bitcoin again contracted $61k then china government again banned bitcoin and bitcoin mining. Just wait and see what would be happened in future.

Depends on how strict the ban is. If even owning bitcoin is considered as a crime, I think only a few would dare keep bitcoin for future purposes, and the rest would surely sell it out of fear of getting jailed. China is the toughest country to ban bitcoin in recent times, due to its notoriety as the "all-seeing eye" on their own citizens. Even if I really like to keep my bitcoins, if I am a normal Chinese citizen, I'd rather forego my assets and just obey the government instead of being sent to prison.

This isn't a general question mate, instead this is answerable by those people who lives on the region affected by Banning , because we will only speculate
about their answers since our countries has no Banning rules.

But given the example of China , in which the Chinese is the most controversial in effect of this rules, i think they are still Holding and no plans of giving up.
after years of being in questioned , yet their Crypto community stays strong and until now kicking the market.

Though Miners are the most affected i believe.

I don't think they will give up on bitcoin, as it is digital gold as Co-Founder Steve Wozniak(Apple) said.  I don't think they're going to give up any, even they can accept a long term hold until the ban is lifted - Given the current conditions, it's only temporary, even your ban  China.
Bitcoin is the last thing about freedom, there will be struggle.  I only have 25% cash to use and stay active in life, the rest is in bitcoin and crypto.  I am optimistic and believe this moment!
My country is neutral towards bitcoin.

it's true as you said when China made the issue of banning bitcoin, bitcoin prices are cheap but they buy bitcoins in large quantities. this is like politics so don't be easily influenced by the news. Be good at using news so you will benefit.

agree with you that the bad news that China does is for a specific purpose, which is precisely what many are carried away with such news. the goal is to take advantage of people who panic about the bad news. It's true what you said, don't be too quick to be influenced by news that has been done in the past, we should be good at accepting and studying every news that is available and not easy to believe

Im not sure if holding bitcoin is that crazy strict as they would end up putting peeps in the concentration camps. Lolz. Could be third world punishment I guess. But its funny in the modern world.

I have seen various changes in my country regarding the bitcoin. Whenever Reserve bank puts some changes in the yearly bills, people start freaking out, they sell, they dump, they go crazy making million questions. After a few months are passed on, they again start investing back because by that time RBI again accepts the crypto techs.

It's really funny, though there are restrictions there are ways out to use the bitcoin.

There is a famous quote and it says:
"If there's a will there's a way"

Give up?? Very weak of a man if you will just give up on Bitcoin just because the government in your country are simply prohibiting you from using it. There are many VPN's out there that can make you secured and with that, you can still use Bitcoin or any other crypto. If you really want to use it then you will make some ways in order for you to use it :).

On the other hand though, I will agree that there are some crypto investor who will choose to just give up because they are being banned to use it by the government. We can't blame them though but if there are some who are giving up on it, there are some investors who will enter and invest. Its just quite unfortunate for the people who are living in countries where they banned Bitcoin. They can move to other countries like El Salvador though if they really want to use it :D.

There's a quote that said that bad publicity is still publicity, the first thing that comes to my mind every time Bitcoin prohibition is all over the crypto news. We all know that bans are detrimental to the market, but they kind of spread awareness. Regarding giving up the coins, there's a possibility, especially for the newbies. HODLing is still preferred due to the negative profit of bull run investors. Bypassing is also relevant in China; there are ways they could at least make their coins work.

I don't know how strong the surveillance technology in China really is in regards to the Internet and I absolutely don't know whether they are also able to control TOR or some exit nodes of TOR (that for sure), but if I were Chinese I would definitely also try to get at least some Bitcoin and put it away such that nobody can find it and keep it for long-term.

if indeed.investors who use bitcoin will be penalized.then this is.very dangerous because it.violates.the law and leads.to criminality.then we as investors.and the state of course we will get a criminal.if we violate.the law then it will be released.by the investors.because this is.a.violation of the law, but this is.not what happened and will not be applied by a country for those who implement the business.then it.will not be done by the people who do business.in it

Maybe only for some countries that prohibit the use of Bitcoin and many other countries that do not prohibit the use of Bitcoin, meaning I can conclude that long-term Bitcoin holders need not be in doubt.

There is a possibility that some would book their profit if there is a complete ban because the problem is that it is hard to predict whether other exchanges will allow trading and it all depends upon which country is making these decisions as some of the countries are already banned by exchanges and you never know when these exchanges will change their decision, people who are smart will always find a way to cash out their coin even if there is a ban as there are several procedures you need to do when you need to file your taxes in a cryptocurrency banned country ;).

No, they will not give up because the government did not trace who are those people who had bitcoin holding, they can hide while having transactions of bitcoin. Still, they can use p2p exchange even though their country has been banned bitcoin. Look at China, even there are very strict on using bitcoin and crackdown on bitcoin mining but still, people still have bitcoin.

There's no one who will stop you if you want to use bitcoin and hiding your identity in the first place will always have a guarantee.

Indeed, so there's no need to worry if you are a holder of Bitcoin for a long time as long as you hide it from them or don't do any illegal then you are safe. They didn't track who's people who have Bitcoin they just put some regulations and that's it you don't need to give up using Bitcoin.

Just think like this, if drugs still exist in their country even though it banned or prohibited, of course, it is prohibited but still there are people who are still using or buying it but you know for sure that they will be punished if get caught so does doing transaction with Bitcoin is the same.

It is like you're asking if those people who have bought bitcoin will forget about their investment just because of the ban.
Yeah, you can always hide from them because there won't be a forcing of citizens to reveal if they're holding bitcoin.

We resorted to P2P when the central bank in my country banned all cryptocurrencies related businesses thus removing third parties transactions alot of Bitcoin hodlers moved to Binance, Paxful and local bitcoin for P2P to transactions, decentralized feature of Bitcoin had indeed enabled a smooth and swift transactions without government interference.
Other countries who faces similar challenges will always find a way out, of course there many tools like VPNs that can be used to bypass whatever restrictions imposed by unfriendly crypto nation whatever the situation cryptocurrencies has come to stay.

In some countries, it is customary for citizens to listen to what their government has to say.
But in my country it is not customary to listen to what the government prohibits, but to think with your own head. These are Russia and some countries of the former Soviet Union.
There is not one Russian crypto-exchange in Russia, but this is not a problem.
The shadow market works great in all major cities.

If the bitcoin banned to a country it depends on the people if they want still pursue the use of the bitcoin. There are two types of people with that, first is the people who got feared because they don't want to commit a crime if they support the bitcoin or else they will try another way just to keep make an investment with the bitcoin. Still, there's another way if they want but again they are risking their selves because their country releases a rule of it. I guess before they will release the banning of the bitcoin they are let the holders to make a withdrawal on it if the bitcoin is the coin only ban still they could support the use of other coins.

That's why there are some ways how can we handle having bitcoin secretly , And besides banning of bitcoin for usage and not for Holding as an asset so those who knows the value of bitcoin in future will surely keep the holding and will never get affected just like that from the banning.
remember that the stand of this government now may change in the future specially in growing market like crypto and the people now are starting to realized the benefits of it? no wonder that those who bans bitcoin now will end up promoting this coin in the future.

Ask the Chinese if they stopped using Bitcoin in 2013 when China first meddled, or the Iranians in 2018 onwards when the state stepped in. Or Venezuelans in the same period when their government said it was illegal for a time.

They all went P2P, or they found other means. If anything, all the bans did in these countries was to accelerate education and awareness about actual Bitcoin use -- people using real wallets, real clients, direct, decentralised means to access Bitcoin... while in some countries, the majority of users will never actually own real Bitcoin, thanks to commercial wallets.

I do agree with what you said here, with bitcoin my daily need has fulfilled, and not easy to ban me to stay away from crypto, even if my government forbid me directly. Just like you, i will hold tight my bitcoin and sell it on their back, so many ways to convert it to fiat and buy real stuff. No one can stop technology, and bitcoin is the leader of future technology.

Anyway, when the government ban bitcoin in some areas, there will be more holder, and more holder mean price will go high next week, think smart guys, and take your chance.

If people go out of their way to get something like drugs which are bad for their long term health to the point that some of them are being legalized as we speak, can you imagine what is it going to happen to those regulations since bitcoin is beneficial for you on the short and long term? Banning bitcoin is never going to work because people are going to see that one of the people they know got rich with it and they are going to want the same outcome for themselves.

Bitcoin can bring them a lot of benefits, and they should not give up Bitcoin. In recent years, some countries have banned the use of Bitcoin, but they still hold and have not given up.
Bitcoin's scarcity and people's demand make its value rise, long-term holding will make more profits. They cannot give up what is beneficial to them. Bitcoin will not disappear. Now that some countries or regions have accepted Bitcoin, it is believed that these banned countries may one day lift the ban.

I think if a country explicitly bans Bitcoin, most people will waver and choose to sell them one by one, because the country has clearly announced the ban, and violations will be regarded as ignoring national regulations. Perhaps some bold people will persist because they do not want to give up their own interests.

I am lucky that My country does not Banned Bitcoin , and still seeing for the long future that this will never be banned.
but even if , lets consider that one day at any chance one President stand against bitcoin (Like what Donald trump stands in hsi administration though this not lead to banning Bitcoin in US) For sure i will still Hold my bitcoin to be given for my children that I'm sure one day they will make a big profit and use from it.
There are numerous countries that has banning bitcoin law yet their people is still having theirs until now.
so basically the banning will only be a problem if the people itself don't trust the coin and don't trust its future.
I will never make that same stance because i know and already saw how far this can come and how long this can stand.

Oh there's definitely people that will break the ban because they know that the prohibition is unjust and stupid so I really don't think that we will see a total abandonment of bitcoin from the countries that have banned the usage of it.

Expect the wealthy Chinese to just go on vacation ,
while on vacation, they sell all of their Bitcoins for fiat .
They return home with the fiat and forget about bitcoin.
As many rich people have already stated , it is not like they need bitcoin. (this will offend the bitcoin cult nutjobs)


Problems for those stupid enough to hodl thru the Chinese vacation/sell off, is a continuing dropping price verses fiat.
And the next go around the Chinese won't be buying bitcoin.
So the btc glory days may be gone forever, especially when the US starts banning Bitcoin PoW mining.

This whole crypto ban , how do they really apply it otherthan making buying crypto with local banks a dead-end. Because if crypto addresses don't have mobile numbers or your names on them how would they know....Do they monitor your internet history to monitor your every move which you can easily fix by using a VPS to keep them in the dark.

Dude , it's China of course they monitor everything you do.
Welcome to Communism.  :P

Corporate VPNs are allowed,
however if a local Chinese person uses a VPN, they face jailtime.
https://www.travelchinacheaper.com/is-it-legal-to-use-a-vpn-in-china




Recent
https://www.theglobeandmail.com/world/article-china-cracks-down-on-illegal-web-use/

if.it.is associated.with the government it.is impossible even though there.is a.prohibition
from the government, the cause.may be more to the current price decline.that causes.people to sell.it on the stock.market, related to the ban from the government.it's not at all the influence of someone selling it on the stock market, because the previous government also banned it, but also does not affect.the release of crypto currency on the stock.market, I don't think this is.a matter of government interference.in this.case

I believe that there are chances people of that country is either given a time bracket during which they are expected to sell off their coins and get rid of crypto asap, or they may try to boycott their government or maybe try to find a way through which they can continue their trading in crypto in a hidden way.

even if a country bans bitcoin, i think people will never let go of their bitcoin easily, i think they will definitely keep their bitcoin at all costs, maybe they will move their bitcoin to a safe place, besides the government will never know we keep the bitcoins we have..

our people's habits are getting more challenging the more interesting, the more countries prohibit even more people playing bitcoin, if there is a country that closes all access to bitcoin, I think most people will definitely store their bitcoins in a safer place, they will definitely not sell their bitcoins, because I believe even if a country bans them I think this is only temporary..

if a country bans the use of bitcoin, and stops all bitcoin activities, and closes all banks for bitcoin exchange, I think people will stop for a while, not forever, they won't sell all their bitcoins, they will try to keep their bitcoins, because we have seen it many times, even though there are closures, I don't think it will last long, because it has often happened in the previous year..

It could be. The government like China which is known to be a communist country has the power to implement and exercise their power to control over things in which they thought to be harmful for their economic or to their people. But if chinese people really love bitcoin still can find a way to use bitcoin without getting caught by the government.

Fortunately, I am in a place that does not prohibit the activity of bitcoin (cryptocurrency) in the internet world.
In my opinion, those who experience things like that.. certainly won't be easy to give up and even if I experience this, we as crypto fans certainly won't be easy to just let go without thinking more deeply. However, this is of course a very extraordinary thing that is not should just leave and just give up.
Apart from that, it could be after it happened.. did not rule out good things that could push bitcoin to be more viable and looks more positive value.

What's good is that there are more and more officials like politicians or big bankers who talk positively about Bitcoin. Even at institutions like the SEC or similar institutions from other countries there is a lobby that is pro Bitcoin. That lobby, as I see it, is growing. I don't believe we will see a ban in any of the major countries (apart from China of course).

I am also sure that the DeFi sector will grow immensely as that gives people the opportunity to put assets to staking, generating additional income. There aren't many financial instruments that offer the same ease. Also keep in mind the central banks can't raise interest rates interest rates anytime soon. They would most likely crush the stock markets if they did. That is why even if the market seems to be kind of fearful, crypto is perfectly positioned to grow.

I live that country where bitcoin is prohibit ,but  here also more a big number of people are involving in bitcoin,and I would say the bitcoin is 2nd famous currency of my country.In my country people don't care that the bitcoin is prohibited in our country.and I would say people will get more interested in bitcoin when bitcoin will be regular in our country.So no matter where is bitcoin prohibit and where not , because bitcoin would have very popular in the world.

The only thing that comes to my mind is that Chinese fud always occurs when bitcoin is at its highest point. I'm not sure whether it's genuine fear about the economy, but I'm guessing they're just exploiting it to potentially dominate the market, with whales profiting from the fall of BTC's path to 100k. A scenario like this has already occurred, and I seriously doubt that they are giving up or losing faith in cryptocurrencies; in fact, they are quite clever in their use of it to increase profits and take use of it.

Yes a ban would influence people to give up on Bitcoin any law abiding citizen is not going to defy the government and jump through loop holes to be able to withdraw their Bitcoin. That does not mean that every citizen will listen to the government rules and a ban does not mean that Bitcoin will suffer from it.

it's true as you said, if people obey the government they will most likely issue bitcoins, but there are also some people who don't really care about the rules made by the government, so they don't care.
it all depends on themselves,,, but I firmly believe that even if they make every effort to bring bitcoin down, I think bitcoin will be safe, because bitcoin has gone through many challenges..

If a country declares that trading in cryptocurrency of bitcoin is illegal, then it is obvious that the citizens will not be able to continue trading. They can still trade through unfair means but it will not be legally binding in their country.

For sure, people can't continue mining and other stuff but they can still trade anonymously and keep the funds in exchanges or decentralized wallets etc.

It's meaningless to ban something, even a lot of countries try to mitigate the laws that they have on drugs, etc. Even in case some countries ban Bitcoin, it just means that the demand will lessen, they can't abandon the crypto business / trading / gambling for some people who know how to use VPN, Tor, Tails and etc.
For average non-tech people, it may be very difficult and they may give up but the major players will always stay in game. We talk about Crypto that isn't cash and exist in virtual life. At the moment, it's impossible to control the virtual world the way it's possible to control real life.

Lol don't make it hard because even those countries that Banned Bitcoin their people continue to buy and sell in other way like p2p so don't say it is unfair because Bitcoin is  anonymous and we can hide without government detecting us.
If you Knew those people that Engaging in Bitcoin investment then you will never say such words trust me.

Banning will never hinder people from Adopting to crypto trust me.

probably the ones that give up on bitcoin when governments starts to ban them are the businesses that are based on them, whether its sites or shops or whatever that uses bitcoin or crypto in their transactions, if governments decide one day to ban it they would go down, but even then they won't give up and maybe they will try to find other ways or other places to shift their business to, and to be honest i don't think that government have the ability to totally ban crypto or bitcoin, if it has value and people still use you will find people that will use it in the shadows just like any other thing that is made illegal.

Some of my friends in a country where they have banned it I know they had all sold their positions and got rid of it. they are not involved now in the crypto because the laws are strict and if found dealing it has a punishment. So in order to have a peaceful life they have given up and hoping from government to rethink and make it legal in coming time.

Everybody knows that there are ban in some countries, Bitcoin is not allowed in some part of the country which makes lots of people give up, if you are holding for a long time I believe you can definitely buy and store in a cold wallet and if you are trading I believe there will definitely be a way in which you will be able to trade. All the countries that are trying to ban bitcoin are just trying to kill bitcoin which is not possible.

I will not give up Bitcoin, because Bitcoin can really help me get a lot of benefits. Even if there are bans on Bitcoin in some countries, some people can still use it and transfer it to a wallet with safe access.
When encryption became popular on the Internet and attracted worldwide attention, it was banned in many regions, but this was only temporary, and now it has been accepted and recognized in many regions. Bitcoin has brought many positive effects to society, and it will have great development potential in the future.

If the state bans Crypto on the grounds that it will worsen the financial system and harm the state, I will stop access to Bitcoin. If the ban was just for my own safety, I think I can take care of myself. But in my opinion, the government is also acting in the interests of its country, perhaps avoiding inflation as a factor. Because Inflation can happen if we continue to sell BTC and exchange it for Fiat money.

So far in countries where an outright ban was attempted we have seen that such a ban could not be enforced, that people continued to trade and in fact crypto prices rose significantly as compared with places without a ban.

To ban bitcoin would be a vein effort at this point.

It is true that currently there are several countries including China that prohibit Bitcoin or cryptocurrencies. It will certainly be difficult for btc lovers in the country. We know that every country has its own authority/policy to oppose or accept BTC, and as citizens of course this must be obeyed. I just think that it is not easy to release btc especially if you have been in it for a long time. Maybe there are those who give up and there are also those who stick to btc in various ways, of course that can happen if indeed they still hold on to btc. I hope the banning of btc in a country will be reduced so that it won't happen and people can make good use of btc.

really don't have to take it off. not all countries have such strict regulations regarding crypto.
some only regulate mining, or only for crypto projects in their country. it does not decide for its citizens to own crypto assets including bitcoin.
everyone is free to own it even when their country regulates ownership of bitcoin assets.
everything can be designed without even knowing the identity of the owner of the crypto asset.

If there's really no use for bitcoin in that country no matter how much you try to access it, then they will probably eventually abandon the use of bitcoin but if it's otherwise then we will probably see the people use it more.

if a country prohibits bitcoin, do people release their bitcoins, people's criteria are different, some immediately release their bitcoins, some hold them first, some don't care at all, whatever happens they will not release the bitcoins they hold.. Personally, I will wait first, because we know the policies taken by the government can change at any time..

I think that if something is connected with a lot of problems people give up and look for something easier. So I think that the majority of chinese are likely to give up investments in Bitcoin. On the other hand, Bitcoin has a bright future, so those who understand it, will find ways. For example holding in cold wallet, without trading, like you have said.