Will demand rise if cryptocurrencies are banned?

[deucher]

In the contemporary society, practically everything operates on the tenets of such a principle, and the prohibition of something will only increase demand for it. Does this imply that individuals will find new ways to obtain cryptocurrencies if it is outlawed globally, or will it destroy the sector?

 

[Nomad]

It it is banned in your country but functions in other countries, the demand for crypto will continue to rise. But I believe if crypto is banned in powerful countries, the US for example, I do not think people would be interested in crypto.

 

[Riberet19]

The data says that in countries where crypto has been banned, the demand has gone up, so it could be that yes, but that also depends a lot on the needs of the population of that country, it is not the same as being banned in a country where inflation is 2-10% than to be banned in a country where inflation is through the roof.

 

[favouranduwish]

Absolutely! When regulations tighten, people tend to get resourceful. Even if crypto faces a ban, there's a chance folks will find alternative routes to access it. And don't forget about popular cryptos like Lucky Meme, they've built a solid following, so they might weather the storm. It's a complex issue with different possibilities, but that's just how I see it!

 

[Frithat]

absolutely!

 

[EMMANUEL]

A cryptocurrency ban's impact on demand is complex. While scarcity, rebellious appeal, underground markets, and haven asset potential could increase demand, reduced accessibility, legal risks, hindered mainstream adoption, and the availability of alternatives could decrease it. Overall, a widespread ban would likely reduce demand due to accessibility and legal concerns, though niche groups might still be interested. The type of ban, its enforcement, and global coordination all play a role.