Quote from: adzino on Today at 08:04:28 PM

Quote from: ROSEDF on July 08, 2021, 02:52:00 AM

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?

I doubt when people hear that their government is going to ban bitcoin, they will be willing to hold their coins any longer. I mean there will be no "long term" bitcoin holders except for few that has very strong hands and believes that the ban will be reversed. Most of the holders will sell their coins and convert back to fiat. They wouldn't want to risk it or put their mental peace aside. But I doubt banning bitcoin will stop people from using it. I mean, how will the government even know if they use?

Some countries are now planning to put restrictions on crypto but banning it totally might be quite hard to be fully imposed. Investors and hodlers will definitely find ways on how to store their bitcoins without alarming the government. If they can hold it for long term sucessfully, then bitcoin enthusiasts will continue to keep it in their cold storage. So this only proves that even bitcoin is at a stake, people will definitely chose to still keep it for profits purposes.