Will people who ban Bitcoin in some countries give up Bitcoin?

[ROSEDF]

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?

[mk4]

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.

[UKprod]

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.

[Kong Hey Pakboy]

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.

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.

[avikz]

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?

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!

[bittraffic]

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.

[peter0425]

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.

[traderethereum]

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.

[Wexnident]

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.

[Zilon]

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

[leea-1334]

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?

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.

[goldade]

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

[Jating]

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?

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.

[Taskford]

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?

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.

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.

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.

[xSkylarx]

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?

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.

[DapanasFruit]

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.

[tyz]

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.

[lucifur]

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.

[hd49728]

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.

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.

[john_nautica]

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.