In the modern world, almost everything works according to such a principle, and if something is banned, people will want it more. Does this mean that if cryptocurrency is banned worldwide, people will look for more methods to get it, or will it kill the industry?
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When something gets banned, people tend to want it more - it's just human nature. This is because scarcity and curiosity tend to make things more interesting. For example, if Bitcoin or Ethereum were to face restrictions, some users might start looking for them in other places like peer-to-peer platRead more
When something gets banned, people tend to want it more – it’s just human nature. This is because scarcity and curiosity tend to make things more interesting. For example, if Bitcoin or Ethereum were to face restrictions, some users might start looking for them in other places like peer-to-peer platforms or offshore markets.
But if there were a worldwide ban on these cryptocurrencies, it would probably hurt the industry as a whole. There would be less money coming in from big institutions, the infrastructure would suffer, there would be fewer transactions happening, and the risks involved would go up. Sure, there might still be some demand underground, but the growth and widespread use would definitely slow down.
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