Re: Will people continue to use crypto if outlawed?

Quote from: Hispo on June 30, 2025, 10:22:25 AM

Quote from: Abiky on June 06, 2025, 08:15:21 PM

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.

Not long ago Bitcoin and all kinds of crypto-assets were outlawed in Bolivia, a land-locked country in the middle of south America, and still I would see some people from Bolivia on the internet trying to get money out of Bitcoin and using services related to Bitcoin in order to profit from them. So even though a country could ban Bitcoin and Crypto on the paper, in reality it is very difficult for a developing country to enforce those bans and make sure people are following those laws. In the case of these countries which do not have the capabilities to enforce a ban, people will continue to use Bitcoin and altcoins but they will be more reluctant to talk about it to people they know, because of the fear they may have on authorities to find out about their holdings.
Monero and Zcash may take some more relevancy, but not as much as some people believe, though.

You can actually be able to make out some engagement though as long you do know on what you are doing. There's no way that you cant be able to determine those ways or methods on which despite on having that regulation that we do have in today and lets say that its been banned and prohibited but still there would be those ways or methods that you can be able to exempt yourself on being caught on taking up these kind of transactions but of course as an individual then you should be that cautious on what you are doing because you do know on what would be the consequences once you do engage into something that has been that prohibited. There's no way that you cant be able to determine those things on which we know that it would be that dangerous but since crypto is somewhat that anonymous and decentralized then we can be able to find up those possible ways.

Just make it sure that you wont be get caught because once you do then you'll face up such problems. Its important that you are wary into the actions that you would be gonna taking and not just that blindly proceeding without any precautions. Always be that be careful if ever you would be that trying out to made out such action. Its never been that recommended on trying out to oppose law but as much as possible that you wont get caught since you are interested with crypto dealing then you should know the drill.