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

[SaShiRaJaVu]

  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.

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 .

[1714812837]

1714812837

[1714812837]

1714812837

[1714812837]

1714812837

[ReiMomo]

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?

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.

[Oceat]

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?

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.

[tabas]

It is like you're asking if those people who have bought bitcoin will forget about their investment just because of the ban.

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.

Yeah, you can always hide from them because there won't be a forcing of citizens to reveal if they're holding bitcoin.

[gabbie2010]

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?

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.

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.

[zasad@]

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.

[Peanutswar]

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.

[btc78]

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

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.

[buwaytress]

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.

[lenovop-70]

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.

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.

[Silberman]

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.

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.

[Caldear]

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.

[Nora Olin]

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.

[kotajikikox]

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 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.

[Lorence.xD]

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.

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.

[TangentC]

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?

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.

[Woodie]

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.

[TangentC]

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.  

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

In places like Tibet and Xinjiang, which are politically sensitive areas in China,
there have been reports that locals have been put in prison for using a VPN.

when businesses use a VPN they have to get clearance from the government to do so.
They can’t just use a VPN because it’s necessary for business.
They have to get approvals from the authorities in China in order to create and use a VPN.

Will China Punish Me if I Use a VPN?

One example of possible retribution occurred in Xinjiang at the end of 2015.
The authorities in Xinjiang decided to shut down the cell phone service of any person, foreign or local, who was using VPN.

The police took my phone, went through all my apps and deleted all the VPNs and foreign messaging apps (Skype, Viber, Signal, etc.).

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

Police in China are making arrests and issuing fines for people and companies using software to access blocked internet content in a widening crackdown on those who “illegally access international networks.

[clint25n]

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

[Stedsm]

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.