I’m just curious. How do some governments ban crypto? It is decentralized … you just need an exchange or a wallet, and you can buy it p2p. So what’s the exact mechanism of banning? 🤔
#asknostr
Discussion
Just look elsewhere
Despite being banned, the Chinese crypto market recorded an estimated $86.4 billion in raw transaction volume between July 2022 and June 2023
So I suppose the ban only means you can’t use it to buy stuff or trade it on exchanges 🤔. You can still do p2p transactions
Chinese just connected to exchanges that they could. In the article it said he used OKX and Binance, probably using a VPN, open overseas bank accounts, etc
It’s damn easy opening a US account! You can do it with an Indian passport
A pure ban is almost impossible, but governments can make for normal people really hard and annoying to acquire #Bitcoin
for example, exchange are easy to use. Ban them (=revoke permission to the exchange for operate in your state), and the common folks has to use p2p system, which are slower and more complicated
See governements ban more like a way to slow adoption rather stop it