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
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.