Will people who ban Bitcoin in some countries give up Bitcoin? - page 3.

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Quote from: Fatunad on July 08, 2021, 05:56:51 PM

Quote from: ROSEDF on July 07, 2021, 09:52:00 PM

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.

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

Quote from: ReiMomo on July 10, 2021, 05:24:54 PM

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.

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Quote from: ReiMomo on July 10, 2021, 05:24:54 PM

Quote from: ROSEDF on July 07, 2021, 09:52:00 PM

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.

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Quote from: ROSEDF on July 07, 2021, 09:52:00 PM

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.

SaShiRaJaVu

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Quote from: swiftbits on July 10, 2021, 08:26:49 AM

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 Wink

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Quote from: ROSEDF on July 07, 2021, 09:52:00 PM

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.

randegibran

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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

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Quote from: DoublerHunter on July 09, 2021, 06:33:49 AM

Quote from: Chato1977 on July 09, 2021, 06:24:06 AM

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.

swiftbits

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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.

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Quote from: ROSEDF on July 07, 2021, 09:52:00 PM

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 Cheesy

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Quote from: mk4 on July 07, 2021, 10:04:15 PM

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.

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Quote from: amihada on July 10, 2021, 04:05:06 AM

Quote from: Chato1977 on July 09, 2021, 06:24:06 AM

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

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Quote from: Chato1977 on July 09, 2021, 06:24:06 AM

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.

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Quote from: ROSEDF on July 07, 2021, 09:52:00 PM

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.

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Quote from: ROSEDF on July 07, 2021, 09:52:00 PM

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.

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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.

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Quote from: ROSEDF on July 07, 2021, 09:52:00 PM

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.

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Quote from: adzino on July 09, 2021, 03:04:28 PM

Quote from: ROSEDF on July 07, 2021, 09:52:00 PM

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.

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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

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Quote from: ROSEDF on July 07, 2021, 09:52:00 PM

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?

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