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

[KingsDen]

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?

Never and never!
If my government bans bitcoin, I will find a way to still buy and hodl bitcoin secretly, but if there is no way to do this, I will consider relocating out of the country. I am in love with bitcoin, the government should not play with me about this.

The only time I will stop being involved in bitcoin is when bitcoin itself doesn't exist again.

[alltalk]

Never and never!
If my government bans bitcoin, I will find a way to still buy and hodl bitcoin secretly, but if there is no way to do this, I will consider relocating out of the country. I am in love with bitcoin, the government should not play with me about this.

The only time I will stop being involved in bitcoin is when bitcoin itself doesn't exist again.

It is the same case as Binance is banned in my country. People still can access Binance with VPN. People will never stop to use BTC, it is similar as Binance exchange. There are many ways to keep using BTC, government can't stop everyone to have BTC. Moreover, BTC is getting popular around the world, even it becomes the crypto reserves in a big country as in USA. Instead of banning Bitcoin, the government may be curious to have it as their assets as well. 

[KingsDen]

Never and never!
If my government bans bitcoin, I will find a way to still buy and hodl bitcoin secretly, but if there is no way to do this, I will consider relocating out of the country. I am in love with bitcoin, the government should not play with me about this.

The only time I will stop being involved in bitcoin is when bitcoin itself doesn't exist again.

It is the same case as Binance is banned in my country. People still can access Binance with VPN. People will never stop to use BTC, it is similar as Binance exchange. There are many ways to keep using BTC, government can't stop everyone to have BTC. Moreover, BTC is getting popular around the world, even it becomes the crypto reserves in a big country as in USA. Instead of banning Bitcoin, the government may be curious to have it as their assets as well. 

This is true. The idea of governments banning bitcoin is fading away. Right now, governments are devicing means to embrace bitcoin. No same government will consider to ban bitcoin at this level of global adoption. I remember in 2021, when the government of my country was trying to ban bitcoin. The then Vice president made a statement that "Bitcoin is like a pregnant woman". No one should kill a pregnant woman because no one knows the pregnancy that carries the king.
The only way to stop bitcoin is to bring down the entire WWW.

[taufik123]

They are too deep into it to shut the whole thing down, in my opinion.

And the profits / possibilities are bigger than the off-sets for the bigger entities in question.

What do you mean by them closing it all down?
The current government is more open with crypto developments, but if other governments are banning crypto they are even opposed to moving forward.

Like China which initially heavily banned crypto, but now it provides room for crypto to develop and even become a revolutionary technology for the future with more serious development.

[bitbit97]

Do we have Chinese representatives here on the forum? Since crypto is banned there, what if a persons goes abroad, purchases BTC and gets back. Crypto is held on a hardware wallet that nobody knows about. That is actually a question that refers to topic name. «Government bans Bitcoin» - how is it possible? Like they would have access to all or any device a person has to check if he have crypto? That is nonsense and unachievable. Imo government can not check if I have BTC, so if they bank BTC, what stops me from holding or buying it?

[bounceback]

Never and never!
If my government bans bitcoin, I will find a way to still buy and hodl bitcoin secretly, but if there is no way to do this, I will consider relocating out of the country. I am in love with bitcoin, the government should not play with me about this.

The only time I will stop being involved in bitcoin is when bitcoin itself doesn't exist again.

Always have thousand way for investing in bitcoin indeed government have banned to buy or sell bitcoin, I remember well when early investing in bitcoin and China announced banned bitcoin not allow to buy or sell. But many of their citizen keep investing in bitcoin by using top exchange market likely Binance or other global exchange.
In my country, bitcoin not banned yet and government take benefit by taxes transaction adopting when using local exchange for buying or selling cryptocurrency assets.

[Alone055]

Do we have Chinese representatives here on the forum? Since crypto is banned there, what if a persons goes abroad, purchases BTC and gets back. Crypto is held on a hardware wallet that nobody knows about. That is actually a question that refers to topic name. «Government bans Bitcoin» - how is it possible? Like they would have access to all or any device a person has to check if he have crypto? That is nonsense and unachievable. Imo government can not check if I have BTC, so if they bank BTC, what stops me from holding or buying it?

One doesn't even need to leave the country; there are decentralized P2P services that a person can use to buy Bitcoin and then keep those Bitcoin in a non-custodial wallet. A government that bans or tracks Bitcoin or cryptocurrencies should only be able to connect transactions or even holdings to people that have some connections with a KYCed service, this means that if you use a KYCed centralized exchange to buy and then transfer them to a wallet, they will be marked as yours, of course.

So, as long as a person can access the services that they can use to buy Bitcoin and other cryptocurrencies, even if the government in their country have banned them, they can still buy and hold, maybe even using a VPN if VPNs are also not banned.

[SamReomo]

So, as long as a person can access the services that they can use to buy Bitcoin and other cryptocurrencies, even if the government in their country have banned them, they can still buy and hold, maybe even using a VPN if VPNs are also not banned.

Well, when someone is technically good then it's possible to buy Bitcoin or any other cryptocurrency in a country where those are banned but for someone who isn't tech savvy it could be an headache. In some countries usage of VPN is banned but still there are ways to use VPN even in those banned countries. However, once again on tech savvy people can do that not everyone.

[Z-crypt]

Never and never!
If my government bans bitcoin, I will find a way to still buy and hodl bitcoin secretly, but if there is no way to do this, I will consider relocating out of the country. I am in love with bitcoin, the government should not play with me about this.

The only time I will stop being involved in bitcoin is when bitcoin itself doesn't exist again.

Always have thousand way for investing in bitcoin indeed government have banned to buy or sell bitcoin, I remember well when early investing in bitcoin and China announced banned bitcoin not allow to buy or sell. But many of their citizen keep investing in bitcoin by using top exchange market likely Binance or other global exchange.
In my country, bitcoin not banned yet and government take benefit by taxes transaction adopting when using local exchange for buying or selling cryptocurrency assets.

This is also happening with the Nigerian government, they totally banned Binance and prohibit crypto but the people find one way or the other to deal with crypto. Bitcoin investment can never be stopped by any country’s government. It’d be better if crypto can be fully adopted by all countries, instead of seeing it as a form of threat to FIAT, they should see the benefits and impacts it will have on their economy.

[dave_strider]

Well, when someone is technically good then it's possible to buy Bitcoin or any other cryptocurrency in a country where those are banned but for someone who isn't tech savvy it could be an headache. In some countries usage of VPN is banned but still there are ways to use VPN even in those banned countries. However, once again on tech savvy people can do that not everyone.

The same applies to using DEXes to hide the tracks not doing KYC and such to trace back the funds in question to you.

[bitbit97]

So, as long as a person can access the services that they can use to buy Bitcoin and other cryptocurrencies, even if the government in their country have banned them, they can still buy and hold, maybe even using a VPN if VPNs are also not banned.

Well, when someone is technically good then it's possible to buy Bitcoin or any other cryptocurrency in a country where those are banned but for someone who isn't tech savvy it could be an headache. In some countries usage of VPN is banned but still there are ways to use VPN even in those banned countries. However, once again on tech savvy people can do that not everyone.

What about cash? And use p2p method that Alone055 has mentioned. Cash and p2p make all closed doors open. Until government finds out or develop a way to check if a citizen has a crypto wallet, it is safe to buy BTC or other crypto.

I dont understand only one moment. Suppose I own crypto and it becomes known for government. Should I worry if I only hold and do nothing with it? Until sold and gained profit, I must not worry at all.

[enwi]

Well, when someone is technically good then it's possible to buy Bitcoin or any other cryptocurrency in a country where those are banned but for someone who isn't tech savvy it could be an headache. In some countries usage of VPN is banned but still there are ways to use VPN even in those banned countries. However, once again on tech savvy people can do that not everyone.

I agree with your point about the cases of the professionals who will seek ways to purchase Bitcoin even when the countries have prohibited it. In the crypto world, there is nothing that will stop one from requesting for it and being granted regardless of the weather circumstance. However, for a person who is not well conversant with the use of the internet it becomes very hard to undertake this especially if there are very strict rules and regulation concerning the access to trading floors. Nevertheless, in some countries it is actually not even strictly prohibited and there are ways that individuals can still engage in this commerce. Popular methods that can be used in such a case include VPN or any other means provide a connexion to the world of cryptocurrencies. People will always stay a step ahead to find ways to get to make the use of the Bitcoin particularly if there is a demand and interest.

[Roseline492]

Never and never!
If my government bans bitcoin, I will find a way to still buy and hodl bitcoin secretly, but if there is no way to do this, I will consider relocating out of the country. I am in love with bitcoin, the government should not play with me about this.

The only time I will stop being involved in bitcoin is when bitcoin itself doesn't exist again.

That's exactly what I will also do if my country if they banned Bitcoin, though in my country I was thinking a time will come when they will decide to banned Bitcoin because of bad they speak of it but lately they seem to have been okay with it so that's good because we don't need to think about a time when we will leave the country because of our Bitcoin investment.

Though this could be the reason why a lot of people leave there country to another because of what their government has banned, however the only country that would banned Bitcoin and everybody abid by it are the high technology country that can monitor it both physical and online.

[dave_strider]

Never and never!
If my government bans bitcoin, I will find a way to still buy and hodl bitcoin secretly, but if there is no way to do this, I will consider relocating out of the country. I am in love with bitcoin, the government should not play with me about this.

The only time I will stop being involved in bitcoin is when bitcoin itself doesn't exist again.

That's exactly what I will also do if my country if they banned Bitcoin, though in my country I was thinking a time will come when they will decide to banned Bitcoin because of bad they speak of it but lately they seem to have been okay with it so that's good because we don't need to think about a time when we will leave the country because of our Bitcoin investment.

Though this could be the reason why a lot of people leave there country to another because of what their government has banned, however the only country that would banned Bitcoin and everybody abid by it are the high technology country that can monitor it both physical and online.

I also don't see the way govs would see the operations going from DEXes and devices that are not KYC-based.

They would need to ask all the exchanges like that to open up their cards.. or else.

[alltalk]

This is true. The idea of governments banning bitcoin is fading away. Right now, governments are devicing means to embrace bitcoin. No same government will consider to ban bitcoin at this level of global adoption. I remember in 2021, when the government of my country was trying to ban bitcoin. The then Vice president made a statement that "Bitcoin is like a pregnant woman". No one should kill a pregnant woman because no one knows the pregnancy that carries the king.
The only way to stop bitcoin is to bring down the entire WWW.

Exactly. We rarely hear the issue of the government will ban the Bitcoin nowadays. The government may think to take advantages from Bitcoin. Since US government has declared to have Bitcoin reserve, many countries probably follow it. In my country, mr president is quite friendly with Bitcoin. I'm very sure that our government will never think to ban Bitcoin and altcoins. They also get taxes from crypto with huge amount of money.