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.
We resorted to P2P when the central bank in my country banned all cryptocurrencies related businesses thus removing third parties transactions alot of Bitcoin hodlers moved to Binance, Paxful and local bitcoin for P2P to transactions, decentralized feature of Bitcoin had indeed enabled a smooth and swift transactions without government interference.
Other countries who faces similar challenges will always find a way out, of course there many tools like VPNs that can be used to bypass whatever restrictions imposed by unfriendly crypto nation whatever the situation cryptocurrencies has come to stay.