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

[Blaze]

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. 

Indeed, Bitcoin as the example of digital currency becomes difficult to ban once it is adopted and it is in the true sense of the word that provides tangible benefits to people. It does not eliminate its existence, but rather alters the ways of the further interaction with it. This element has gone a notch higher in the limits set by some parties and more people have embraced the determination of the importance or the gains of using Bitcoin. The existence of support for the occurrence of something means that it is rare to contain the occurrence. This however as was previously indicated is also gradually being appreciated in many places and cannot be overlooked by anyone.

[arabspaceship123]

Some users say they'll do it secretly but I've said it before you shouldn't buy & sell if your govt bans bitcoin because you'll be breaking the law.

[doc]

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?

If there is an option to buy and sell then that would be great the only question here is that , Do we have funds to buy Bitcoin? Regardless of restriction there will always be an option for us crypto enthusiasts to acquire but make sure we also have an option to sell because if not and you need it in an emergency situation then you're done. I can't personally say I am willing to forget about it because I am not a long term hodler though I am a little worried if the government will really impose strict regulations locally because you know withdrawals to local currency could be a struggle if that happens.

I don't think the government will make it difficult for us to exchange on local exchanges because several large countries have allowed their citizens to invest in bitcoin, other countries' governments should have the same idea because crypto is a technological advancement that should be supported and can be adopted in the country.

[bettercrypto]

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?

If there is an option to buy and sell then that would be great the only question here is that , Do we have funds to buy Bitcoin? Regardless of restriction there will always be an option for us crypto enthusiasts to acquire but make sure we also have an option to sell because if not and you need it in an emergency situation then you're done. I can't personally say I am willing to forget about it because I am not a long term hodler though I am a little worried if the government will really impose strict regulations locally because you know withdrawals to local currency could be a struggle if that happens.

I don't think the government will make it difficult for us to exchange on local exchanges because several large countries have allowed their citizens to invest in bitcoin, other countries' governments should have the same idea because crypto is a technological advancement that should be supported and can be adopted in the country.

Then, nowadays, many countries are also open to Bitcoin and they allow other communities under their jurisdiction to also enjoy Bitcoin or other cryptocurrencies. Even here in our country, our government only allows us local crypto communities to exchange crypto for our fiat currency.

But they don't pay attention to how blockchain technology can really help our country, because all our officials are busy stealing from our country's coffers.
It's like we can count on our fingers the politicians who are not really corrupt.

[KingsDen]

Some users say they'll do it secretly but I've said it before you shouldn't buy & sell if your govt bans bitcoin because you'll be breaking the law.

Do you mean they shouldn't buy and sell, but they can buy and hodl?
Or you meant that they should totally obey the government and not own bitcoin at all?
Does the government who prints more and more fiat to enrich themselves amidst inflation deserve such level of obedience?
My advice is that, if your government bans bitcoin and you find a way to buy and hold, please do and not necessarily buying and selling to go against the government.

[Asiska02]

Some users say they'll do it secretly but I've said it before you shouldn't buy & sell if your govt bans bitcoin because you'll be breaking the law.

Do you mean they shouldn't buy and sell, but they can buy and hodl?
Or you meant that they should totally obey the government and not own bitcoin at all?
Does the government who prints more and more fiat to enrich themselves amidst inflation deserve such level of obedience?
My advice is that, if your government bans bitcoin and you find a way to buy and hold, please do and not necessarily buying and selling to go against the government.

If we all want to follow how he’s saying we should not go again the government, then we will most definitely not own any bitcoin today. Your government may have banned bitcoin and not allow the buying and selling of it but when you decide to buy some and won’t be penalized for such actions or won’t be a big deal, you shouldn't hesitate to take such opportunity on yourself. If we were to follow on the ban of cryptocurrencies earlier by the government, we wouldn’t have been an investor in bitcoin or own some certain amount of it in the first place.

[debra]

It's like deja vu and I still do it, fortunately now Bitcoin is legal as an asset, so there's no need to hide anymore and no need to worry about receiving sanctions when caught. because now the government is very supportive. but yes there is a response, namely we are required to pay taxes from cryptocurrency, yes, however, if using a local exchange, yes we have to accept it, and there will be a tax deduction on each trading transaction. so yes the government is happy to get income from this crypto tax. and whether it is illegal or not, maybe in other countries it will be different. but from what I read, there are many people who are still buying crypto even though it is illegal in their country

[tabas]

It's like deja vu and I still do it, fortunately now Bitcoin is legal as an asset, so there's no need to hide anymore and no need to worry about receiving sanctions when caught. because now the government is very supportive. but yes there is a response, namely we are required to pay taxes from cryptocurrency, yes, however, if using a local exchange, yes we have to accept it, and there will be a tax deduction on each trading transaction. so yes the government is happy to get income from this crypto tax. and whether it is illegal or not, maybe in other countries it will be different. but from what I read, there are many people who are still buying crypto even though it is illegal in their country

It is true that many still buys Bitcoin even if they are in the places where it is considered illegal and not allowed to be owned by its citizens. That is the reason I think that many of us will still buy and hold it if our governments tries to tell us that it is not allowed to have it. There are forum members that are from those countries where it is not allowed and yet they said that they still own and keeps on DCAing to have more BTC.

[dave_strider]

It is true that many still buys Bitcoin even if they are in the places where it is considered illegal and not allowed to be owned by its citizens. That is the reason I think that many of us will still buy and hold it if our governments tries to tell us that it is not allowed to have it. There are forum members that are from those countries where it is not allowed and yet they said that they still own and keeps on DCAing to have more BTC.

It's just a question of being humble and vigilant about it - if there are no KYC platforms involved, you should be good.

[Bobcrypto]

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?

China has been a good example where every activity related to crypto has been banned, but the Chinese are still engaged in Bitcoin transactions onva regular basis, though in hidden manner. I doubt if bitcoin can be completely banned in a country, except that it can be banned in the whole world.

Now, there are options to used on Bitcoin activities if it is banned in a country, Dex exchanges may be a good options, mixers are also great way for transactions and I think China citizen are still carrying out bitcoin transactions with these options. I may be wrong.

[SmartGold01]

It is true that many still buys Bitcoin even if they are in the places where it is considered illegal and not allowed to be owned by its citizens. That is the reason I think that many of us will still buy and hold it if our governments tries to tell us that it is not allowed to have it. There are forum members that are from those countries where it is not allowed and yet they said that they still own and keeps on DCAing to have more BTC.

It's just a question of being humble and vigilant about it - if there are no KYC platforms involved, you should be good.

Does government keeps monitoring everyone here that holds bitcoin in the bitcoin restricted areas?
No, this doesn't happened and even in our country that our government isn't that friendly with bitcoin transaction aren't that monitoring people instead, any transactions that carries cryptocurrencies narrations then they would have to restricts such account for involving themselves into cryptocurrency trade. Yes, one should be extremely careful while dealing and involving oneself to bitcoin transactions and trade in the restricted areas.

[Stuart]

Some users say they'll do it secretly but I've said it before you shouldn't buy & sell if your govt bans bitcoin because you'll be breaking the law.

Do you mean they shouldn't buy and sell, but they can buy and hodl?
Or you meant that they should totally obey the government and not own bitcoin at all?
Does the government who prints more and more fiat to enrich themselves amidst inflation deserve such level of obedience?
My advice is that, if your government bans bitcoin and you find a way to buy and hold, please do and not necessarily buying and selling to go against the government.

Totally abstaining from acquiring Bitcoin because the government placed a ban on the use of Bitcoin/crypto currency within a country doesn't mean one should totally stay off it. I see the internet to be a free area for anyone or everyone who knowns how to go around it and make good returns from it.

I like it when you talk about the reprinting of fiat by the government, which made or creates inflation in the society. Bitcoin is a free way for everyone to make fortune online. There are several ways to bypass the ban, because there are different websites/online banking services rendered that one can register with for transactions related to crypto currencies.

On the other hand, if the restriction is so tight for all the citizens, holding Bitcoin for as long as possible is a wise decision/choice to make, cause the world as a digital village, there is room for changing or uplifting the ban as time goes on.

[kulkhan]

Still in our country total cryptocurrency banned. But i am Buying, trading and holding Bitcoin. We know Most of the countries banned Bitcoin, only few countries approved Bitcoin. But we saw most of the countries all over the World's people using Bitcoin although illegal.
I am living in Bangladesh, in our country crypto-currency fully banned. Our central bank given a notice about Bitcoin's illegality. But i am even huge people already involved with bitcoin.

[DaNNy001]

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?

This has happened in my Nation because I remember vividly one time the government put out a large scale ban on Bitcoin and and even went as far as freezing people commercial banks account that they feel have something to do with Bitcoin and believe me it was somehow serious because some person heard their money even frozen in the bank like myself but of all this happening, it didn't stop the masses from acquiring more Bitcoin and trading it but this time it was all done quietly.

[JoyMarsha]

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's those who understand the potential Bitcoin can offer can stand by Bitcoin if it means for them to go to another country to accumulate it.

Bitcoin is a force, that can't be stopped by a government or anyone. The government of some countries understands that, that's why they are aligning to have Bitcoin as their economic reserve, to save their country's economy