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

[michellee]

China and some other countries have banned the use of cryptocurrencies and the only way is to hold-term but some countries where the law are flexible citizens carry out p2p transactions. I believe this action by some countries will affect the economic life of the citizen.

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.

[sapnu]

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.

[Argoo]

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.

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.

[thesmallgod]

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.

[geegaw]

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

[adzino]

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?

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?

[randegibran]

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

[Viscore]

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?

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?

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.

[Rigon]

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?

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.

[dothebeats]

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.

[Reatim]

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?

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.

[ivankoh]

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?

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.

[amihada]

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 .

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.

[lepbagong]

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 .

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

[so98nn]

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.

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.

[LogitechMouse]

So will anyone give up 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 .

[swiftbits]

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.

[Nightz]

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 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.

[randegibran]

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

[RizqalArifa]

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?

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.