If your government banned Bitcoin, would you still buy BTC?

[Stuart]

Between courage and fear, when you have known BTC for a long time and have owned BTC for several years, until you can make a lot of money from BTC, ... for example, suddenly the government in the country you live in, turns out to prohibit the circulation of BTC, because it endangers the sovereignty of FIAT currency..

If that happens, will you still buy and store Bitcoin? Or are you afraid and obey your government's regulations and forget about Bitcoin after that?

The regulations have nothing to do with me stopping the continuous usage of Bitcoin. Are they playing or something? Bitcoin has made positive impact in the life of everyone who has made use of it, known it and seen the positive effect it has for financial freendom to all its users and enthusiasts.

If they want to make a total stop to Bitcoin usage, they should start with stopping p2p trading, or still, they should go with closing down all crypto exchanges, wallets that surrounds the crypto industry, and then, start working on shutdown the internet, cause that will be the final to end it all.

[memehunter]

I will not buy BTC if it becomes illegal to buy. However, I will try my best to spread awareness among people through campaigns in order to change the law through democratic processes.

[MrSpasybo]

Between courage and fear, when you have known BTC for a long time and have owned BTC for several years, until you can make a lot of money from BTC, ... for example, suddenly the government in the country you live in, turns out to prohibit the circulation of BTC, because it endangers the sovereignty of FIAT currency..

If that happens, will you still buy and store Bitcoin? Or are you afraid and obey your government's regulations and forget about Bitcoin after that?

Well, I hope that my government will not read this comment, because I will still access BTC even if it is banned by the government. When the government bans BTC, perhaps fiat has become too weak and cannot compete or exist in the economy without being devalued by inflation. In this case, to protect my labor and assets, I will turn to BTC and crypto.

P2P trading may be the only way for the crypto community to continue to exist in the shadows, because the government will not have enough resources to investigate or prosecute all investment actions in BTC that they consider illegal. Crypto is a global market, I can absolutely trade BTC easily, as long as I can hide the details of my buying and selling actions from the eyes and ears of the government.

[bounceback]

Have thousand way for investing in bitcoin indeed our country banned bitcoin, we can by from third party user or withdrawing to them if want sell bitcoin to be cash. I don't think stop buy or invest in bitcoin when my government have ideas to banned bitcoin during thousand or billion people keep interested for investing in bitcoin.
Bitcoin most profitable investment assets and I think difficult increasing huge much profitable when investing except bitcoin, right now many countries take advantage from bitcoin transaction such as in my country Indonesia get much benefit after adopting taxes transaction for all cryptocurrencies transaction.

[arabspaceship123]

If my govt's banned bitcoin I won't buy or use it. I don't want to do any thing illegal or make myself a criminal in my country so I won't challenge the law. You didn't tell will you be afraid or obey ?

If that happens, will you still buy and store Bitcoin? Or are you afraid and obey your government's regulations and forget about Bitcoin after that?

[Mia Chloe]

Between courage and fear, when you have known BTC for a long time and have owned BTC for several years, until you can make a lot of money from BTC, ... for example, suddenly the government in the country you live in, turns out to prohibit the circulation of BTC, because it endangers the sovereignty of FIAT currency..

I think this is actually a question of how much you like bitcoin investments and how intense the law against crypto is in that particular region or country. This is because they are countries out there that crypto is actually illegal but they have a lot of crypto enthusiasts.

Basically the biggest setback would be managing your coins in terms of probably trying to buy since exchanges there will not accept crypto or worse crypto exchanges will be banned in some regions in cases like this.

[albon]

Why not? I will always buy bitcoin.
My country government still considers bitcoin illegal, but I myself have been involved with crypto and bitcoin for the past few years. The government of my country does not want to legalize bitcoin because since bitcoin does not require any financial institution to transact and its transaction history cannot be tracked, so many fear that it is being used for drug trafficking, black marketing, and money laundering. However, as bitcoin popularity increases day by day so it has been declared legal in many countries and the government of my country is already considering it accepted thinking.

[|MINER|]

Between courage and fear, when you have known BTC for a long time and have owned BTC for several years, until you can make a lot of money from BTC, ... for example, suddenly the government in the country you live in, turns out to prohibit the circulation of BTC, because it endangers the sovereignty of FIAT currency..

If that happens, will you still buy and store Bitcoin? Or are you afraid and obey your government's regulations and forget about Bitcoin after that?

Here I want to inform you the main goal of satoshi nakamoto why he invented the Bitcoin. And then goal is established independent financial ecosystem with privacy.
So even if the government ban the Bitcoin I think there is no worry about the Bitcoin because I have a long term strategy on it so I will keep my adoption running. And I believe in the future maybe it could be four, 8 or 10 or 15 years latter in this earth all country will accept the Bitcoin in their law.

[electronicash]

Why not? I will always buy bitcoin.
My country government still considers bitcoin illegal, but I myself have been involved with crypto and bitcoin for the past few years. The government of my country does not want to legalize bitcoin because since bitcoin does not require any financial institution to transact and its transaction history cannot be tracked, so many fear that it is being used for drug trafficking, black marketing, and money laundering. However, as bitcoin popularity increases day by day so it has been declared legal in many countries and the government of my country is already considering it accepted thinking.

what would happen if your government cooperates with the international exchanges like binance and they learned that you submitted KYC to them and you bought BTC while the country banned Bitcoin?

looks far fetch but i think governments are already setting this up where they wanted to know those people who been laundering their money through crypto and they will allow exchanges to operate in their country as long as the government will have access to the data of the exchanges.

[Crypto Library]

Between courage and fear, when you have known BTC for a long time and have owned BTC for several years, until you can make a lot of money from BTC, ... for example, suddenly the government in the country you live in, turns out to prohibit the circulation of BTC, because it endangers the sovereignty of FIAT currency..

If that happens, will you still buy and store Bitcoin? Or are you afraid and obey your government's regulations and forget about Bitcoin after that?

Our government already putted the ban on the bitcoin from the early age and still they don't unbann bitcoin and all the others cryptocurrency.
But in a article I saw the report that over the 4 million people were still connected with the crypto currency in our country. So I don't think the ban could make any impact on bit coin buying. Even if I share about myself I am here more than 6 year and still haven't face anything legal issue while I am using Bitcoin for my investment. And I also think that they won't do anything until I do something truly illegal.

[bhadz]

Between courage and fear, when you have known BTC for a long time and have owned BTC for several years, until you can make a lot of money from BTC, ... for example, suddenly the government in the country you live in, turns out to prohibit the circulation of BTC, because it endangers the sovereignty of FIAT currency..

If that happens, will you still buy and store Bitcoin? Or are you afraid and obey your government's regulations and forget about Bitcoin after that?

Yes, I'll still buy and store it and when I am going to sell it. I'll fly to the nearby countries where it is not prohibit. This is being done I think by those people that are in the countries where it is restricted. They have solutions for it as long as they want to be in it. But right now, the laws here about Bitcoin are fine and the government supports crypto adoption.

[JoyMarsha]

If I live in a country where Bitcoin is banned, there is nothing much I can do other than buy Bitcoin the way I am used to, staying anonymous without letting anyone know whether I have invested in Bitcoin or not.

The very time you have an issue as a Bitcoin investor is when you let people know that invested in Bitcoin despite the government warning of having Bitcoin banned for citizens of the country.

[vegasus]

In the past, the government still banned Bitcoin, and it turned out that at that time, there were already many people who continued to save and add Bitcoin. and in the end until now the regulations have been new, so it is increasingly confident and steady in increasing BTC accumulation.

It's just that each country has different regulations, some are very strict and some are not. Of course, every decision taken will bring risks, especially if it is known to have BTC, you will be sanctioned or imprisoned. So, even if you want to have BTC, let it be a secret, and the way to store it or make transactions must be on a global exchange or with several other things. But, once more, once revealed, the risks may be bigger again.

[SmartGold01]

Between courage and fear, when you have known BTC for a long time and have owned BTC for several years, until you can make a lot of money from BTC, ... for example, suddenly the government in the country you live in, turns out to prohibit the circulation of BTC, because it endangers the sovereignty of FIAT currency..

If that happens, will you still buy and store Bitcoin? Or are you afraid and obey your government's regulations and forget about Bitcoin after that?

Well, to me I don't see this a major threat to me because the forum here still exist and I can trade with someone here or even without the government knowing I am holding bitcoin. In fact, who then go inform government that I am holding bitcoin in the first place? I can do my things secretly without the government having any idea that I am trading bitcoin holding any. But if the hit persist I wouldn't mind going to a nearby countries that permits the use of bitcoin to reside provided that I have enough quantity that could cover up living and expenses.

[LogitechMouse]

There might be some countries that tried to ban the use of Bitcoin in their country but TBH, I haven't heard anybody that got caught and faced consequences just because they used Bitcoins which is banned on their country. I guess this just shows that despite of the government banning the use of Bitcoin, people can still just use it.

I'll still buy it as well but will be wary when buying. P2P trading that isn't coming from CEX would be the first place where I will find and buy some Bitcoins. P2P trading physically could be an option as well. I guess mixers could be a great help as well.