Topic: Will people who ban Bitcoin in some countries give up Bitcoin? (Read 936 times)
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.
August 10, 2021, 09:56:55 AM
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..
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.
Some will have to, because the government is most often extremely negative about crypto.
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.
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.
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.
To ban bitcoin would be a vein effort at this point.
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.
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.
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.
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.
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.
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?
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. 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 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.
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.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.
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.
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.
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.
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.
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.
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.
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..
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.
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?
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. 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 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.
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.
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.
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