Topic: Will people who ban Bitcoin in some countries give up Bitcoin? - page 7. (Read 941 times)
That is not the case for some if not most actually because when they know Bitcoin is going to be banned by their government, they sell because they know prices are going to dip. The persons who hold despite their knowledge of the incoming ban, probably really planned to hold their BTC for the long term. Maybe hoping the ban is just temporary. China wasn't banning BTC but only the institutions are banned in using BTC but people are some allowed.
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?
That entirely depends on the law itself. My country is also planning for such laws to ban bitcoin or any virtual currencies not issued by Government. But I will see the law in details once it is signed and published.
If the government mentions about punitive actions aginst holding of cryptos, then definitely I will have to sell off my bitcoins during the exit period so that I don't stand against the law.
So it really depends on what the law says!
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.
Maybe some people will still be able to use it even if there's a ban, I mean people always try to find a way to access something no matter how prohibited it can be right? So I don't think that bitcoin is going to be an exemption. Also, they can also try and migrate to places that doesn't have any prohibition on bitcoin and other cryptocurrencies.
I would prefer to shift everything to paper wallet and hide it somewhere safe where only i can access. Then i would just wait out for the whole frenzy around Bitcoin ban to fade out before accessing my wallet again. Of course, the ban on Bitcoin wont last a lifetime in any of the countries (except China). This ban on Bitcoin is going to be something similar to ban on whisky, which was lifted.
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.
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?
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