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 
Topic: Will people who ban Bitcoin in some countries give up Bitcoin? - page 4. (Read 941 times)
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.
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?
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.
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.
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. 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 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 .
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?
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 this kind of scenario will happen (regulation of bitcoin and banning), I think most users will opt to hold for long-term and really hope for the best that regulation or banning will be just temporary and will soon be lifted. Just like any other banned things whereas it was later on made legal again after a period of time. Otherwise, I think the users will try to convert the funds they have on their wallet to fiat money for assurance purposes that they will still be able to enjoy the fruit of their labor and patience. After all, there are so many exchangers available to convert crypto coins into actual money. That way, they were still able to utilize their coin's value.
Nonetheless, people will still find ways and opportunity to use crypto if ever worse comes to worst. They can use several methods not to be detected to avoid persecution. Like what they say, modern problems require modern solutions.
this is the true challenge that is always faced by true bitcoin lovers, if a country enforces strict rules on bitcoin, I think a weak hand will let go of their bitcoin, but if true bitcoin lovers will definitely defend their bitcoin, they will definitely do everything a way to maintain their bitcoin, because there have been many challenges faced by true bitcoin lovers..
I always believe that there will be strong Bitcoin holders. Since its inception, Bitcoin has experienced short-selling by numerous institutions, government suppression and restrictions, but Bitcoin still survived and became the leader of the blockchain. Status, countless plunges and suppressions will only make Bitcoin's future growth path go further and further! Just like the Chinese government's suppression of Bitcoin mining, it still cannot prevent Chinese users from continuing to trade Bitcoin. Bitcoin will never disappear. I also believe that there will be countless Bitcoin holders who have the same consensus as me. Will not give up Bitcoin!
Nope. We know there are still many countries where Bitcoin and crypto is still banned but there are a lot of users who are still using Bitcoin. But it's true that there is too much fear among the users when Govt will identify them and put into jail. As Bitcoin is Decentralized, here Govt has no full control or tracing capability unless huge transactions are made by bank accounts or making any crime using Bitcoin.
Sometimes users from a banned country send Bitcoin to his relatives, friends living in a Bitcoin friendly country and send money from that country to their accounts.
Sometimes users from a banned country send Bitcoin to his relatives, friends living in a Bitcoin friendly country and send money from that country to their accounts.
The tendency in other countries where they have banned Crypto currencies, seem to be that a whole secondary underground market (decentralized markets) have developed. Nothing is stopping you from buying something on a online market and importing it to your country, because it is very difficult to "Police" that.
People find ways to bypass these bans, by sending BTC to friends and family in countries where Crypto currencies are not banned and then having that converted to Fiat currencies and then having those people gifting it back to them.
You can also have a epic Bitcoin holiday in another country where Bitcoin and other Crypto currencies are not banned and you can spend your bitcoins at your hearts leisure, without 1 cent of your wealth going towards taxes for the country of your origin. (Their punishment for banning Crypto currencies)
People find ways to bypass these bans, by sending BTC to friends and family in countries where Crypto currencies are not banned and then having that converted to Fiat currencies and then having those people gifting it back to them.
You can also have a epic Bitcoin holiday in another country where Bitcoin and other Crypto currencies are not banned and you can spend your bitcoins at your hearts leisure, without 1 cent of your wealth going towards taxes for the country of your origin. (Their punishment for banning Crypto currencies)
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 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?
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.
Yes you can do p2p but that would tremendously limit the amounts that are traded. You are right it is still possible, but nobody in his right mind would agree to a p2p trade for a couple of thousand dollars or even more. That is just too dangerous I would guess.
I think you could still use technologies like store and trade on a decentralized exchange. The biggest problem would still be the on ramp situation then. I haven't been in that situation, but I think people can become quite creative and we shouldn't forget: where there is a need there will soon be a market. If enough people get into trouble, someone will most likely come up with a solution.
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?
Even if it was to that extent of an outright ban on the entire trading of cryptocurrencies, I believe that there will always be options available to the people which if you are some worth bullish in Cryptocurrency the person might consider relocating to a crypto favourable place where they can sustain and continue trading and for those that are not, yes, HODLing in whatever form might be the best case for them until such a time there are favourable laws to crypto trading, however, I believe this is not the case for now so crypto trading can still go on in China as @Nora Olin has also mentioned but just the ban on mining. 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?
Hello, your post is not rigorous. The Chinese government only prohibits Bitcoin mining and does not completely restrict Bitcoin transactions. Bitcoin transactions still exist, and will not give up the value of Bitcoin because of restrictions on Bitcoin transactions. I think The value of Bitcoin is far from reaching the height it should be. I will continue to hold and be optimistic about the development of Bitcoin. Blockchain has a reason for its existence, so it must have its value!
Maybe some timid people will give up Bitcoin and keep him in the wallet. After a few years, no country bans Bitcoin before he can use it normally,
or sell his Bitcoin in other countries and convert it into legal currency. So as not to be punished by being discovered,
or sell his Bitcoin in other countries and convert it into legal currency. So as not to be punished by being discovered,
Never say give up. Bitcoin will not disappear, and I believe these banned countries will lift the ban one day. These prohibitions will only make people who believe in Bitcoin look for more ways to own Bitcoin. Bitcoin will become legal currency in future.
When we live in a country, we're supposed to follow the law and the regulations of the country. Maybe we're much attached to the usage of cryptocurrencies, but when banned we need to go with the government's order. Beyond that what we do residing in the country is high risk. In such cases people used to get arrested.
If someone is having good volume of crypto holdings and there is unexpected ban/restrictions on usage, then the best choice is to move to some crypto friendly country and make use of it.
If someone is having good volume of crypto holdings and there is unexpected ban/restrictions on usage, then the best choice is to move to some crypto friendly country and make use of it.
An easy answer.
It is money and investment why would people from those strict countries will give up? they can go to other countries where they can trade and sell it without any problem.
Have their money remitted to any of their relatives on their country.
It is money and investment why would people from those strict countries will give up? they can go to other countries where they can trade and sell it without any problem.
Have their money remitted to any of their relatives on their country.
Yes, there are other ways how to use their crypto. Also, for some who believe that their country will change their stance on crypto in the future, they will just hold it for long-term. And for others who have relatives outside, they can easily transfer it to them and just get their fiat back. I don't think they will easily give up bitcoin, now that they know they can transact crypto without anyone knowing their activities.
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 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?
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.
I have friends who come from countries that have banned Bitcoin, but they can still own Bitcoins and can easily sell Bitcoins whenever they want.
This means that there is always a way to still be able to use Bitcoin, even though our country has banned Bitcoin. So if it turns out that our country
decides to ban Bitcoin, never give up on having Bitcoin, because there is always a way to keep buying and selling Bitcoins.
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