In countries where crypto is "banned" (illegal for mainstream use), do you think people will still use it? In such an scenario, it's possible on-chain criminal activity (mainly money laundering, terrorist financing, etc) will rise. To prevent detection, it's likely both criminals and average people will use a privacy-oriented coin such as Monero or Zcash. Bitcoin will be the least used cryptocurrency due to its transparent design. But I could be wrong.
What do you think? Will people still use crypto in a country where it's prohibited to do so? Or will they be afraid? What if all of the world's countries turn against crypto (which is very unlikely atm)? Will market prices go all the way to $0?
Your input will be greatly appreciated. Thanks in advance.
What do you think? Will people still use crypto in a country where it's prohibited to do so? Or will they be afraid? What if all of the world's countries turn against crypto (which is very unlikely atm)? Will market prices go all the way to $0?
Your input will be greatly appreciated. Thanks in advance.
Cryptocurrency is not legally recognised in majority of the countries. However it has always thrived as a parallel currency system. So countries can ban cryptocurrency, but people who believed in cryptos, will continue to use it.
Yes it is possible that the population will move to privacy focused cryptos like Monero or Cash, but there's no way the crypto usage will be greatly impacted. A certain population may choose not to use it, but largely it will be unchanged.