What will happen if the government know bitcoin in your country?

[racham02]

If the goverment know about bitcoin, there is a possibility of tax deduction because the goverment recognized that bitcoin is big and profiatable. because many people are earning money for free so the goverment want to earn money through the tax from bitcoin user, in my country here in philippines i think our goverment here aware about bitcoin

[Xester]

I think they will ban bitcoin because of the fearful that may affect of the economics of my country but i disagree there opinion because working bitcoin is very helpful for me especially the support financial.

No it will not be banned.  Bitcoin here in my country is I think legal because there is no announcement pertaining to its legalization.  But it is supported by banks and remittance center here.  If you want to convert your bitcoin into fiat you can get it to banks and remittance center.  As logn as it will do harm to any people, bitcoin is okay.

[SacriFries11]

I think they will ban bitcoin because of the fearful that may affect of the economics of my country but i disagree there opinion because working bitcoin is very helpful for me especially the support financial.

It depends to the government whether they’re open minded for virtual currency like Bitcoin. Some countries have already banned the use of Bitcoin but some of counties are also open to legalize cryptocurencies.
Technology is growing throughout the time and people find the way to make the transactions of their money faster without any hassle. I think government will not ban bitcoin unless they see that it could affect and other threat to their current economy.
In my country, the government are active for the current situation about cryptocurrency especially bitcoin besides the government plans to legalize cryptocurrencies and considered them another secure currency but it should be under the regulatory code of the country.

[MCVXYZ]

In my country all prerequisites are designed to develop technologies in this directions.they have created special projects,wich help to be liberal environment for this sphere,by this the economy of country is developing.for example mining company-bitfury has invested hundred million US dollars,wich is good for both.so i think that they will not ban bitcoin,they are doing everything to develope technological-economic relationships.at the same time in my opinion there would be monitoring job created by central bank wich monitoring illegal transactions,if investigative authorities will doubt in it.

[warawolf19]

Im pretty sure that my government are known and aware what is bitcoin about. Infact bitcoin is legal in our country. Its good in our industry cause bitcoin reduce the numbers of unemployed in our country.

[Perseusallen]

I think that bitcoin is already known by our government cause it is legal in our country. Sometimes it depends in government whether they will block bitcoin in their country or they deal with it. Cause we all know that bitcoin can do something better in terms of industry right. So that is my answer.

[smauni]

My county already know that we use bitcoin. But they declared it illegal and there is 12years prison punishment for use it or any other crypto currency.  But we using it for our need but government can't do anything.  Because Crypto hides the users information from anybody
 

[HatakeKakashi]

My contry governmenr is know about bitcoin and they recognized last few 6 months ago that bitcoin as payment. The infomation is godd and helpful to the bitcoin community . I dont think my country will ban bitcoin but they have new they will add taxes to those people use bitcoin in my country I don't know where they get taxes and when it happen.

[NewBet]

I guarantee you right now that the government, all governments know about Bitcoin by now. It is no longer a secret. People who have not heard about it, I just don't understand how this is possible. It is being advertised on all media platforms now. At least, cryptocurrency is. And this fact alone means most people should have been exposed to BTC already.

Now, what will this mean for governments? Well, they absolutely do not like it at all. Bitcoin represents an existential threat to them, because they have no control over it. Money is the main way governments track their citizens. Crimes as well, are often or usually solved by tracing or following the money, as they say. Without this paper trail it is going to become much, much harder for governments to oppress their citizens, which is a great thing.

[Faxmate]

That's not really possible to keep track of the users as well to make the people stop the usage of bitcoin. These days governments too have the plans of making use of bitcoin, than abolishing it. Because people tend to use it one or the other way, so that it's not possible to abolish it. Expect more countries to get into bitcoin usage and make it grow higher same as that happened when Japan entered the community.

If we look at the graph of performance of the bitcoin since the time it was introduced to this world, then we’ll get to know that there is nothing better than investing in bitcoin.

All the governments are well aware of this thing that bitcoin is very much capable of making the economic condition of their country better. I don’t think so that any government will be having any kind of trouble if bitcoin is being used in their countries.

Agreed! I don’t really think so that government is going to have any kind of trouble with having bitcoin in their country. The only which is troubling the government is none other than decentralized and tax free nature of bitcoin. This is why some governments are banning this bitcoin in their countries. I am very positive that the governments will take positive steps in this aspect.

First of all I think every government knows very well that’s what is going on in their country and bitcoin is a digital currency and its available on internet because now a days every country have a strong intelligence and in a second they come to know that some illegal activities is going to take place in their country and about bitcoin it’s one of the clear and legal currency in world and some countries have already make bitcoin legal so I think government know about bitcoin.

[Tantlizbat]

It depends on country, cause some of them will want to earn some by making tax or just getting some parts of it on every transactions and some of them will just let bitcoin live.

Government which is wise and which work to serve their citizens in good way they will adopt as they know about bitcoin and everyone knows now that bitcoin is very much profitable and all this thing attracts people and those governments who are not responsive to bitcoin they will feel sorry in future as they are no availing best chance to serve their people and to give more development chance to their citizens also.

[CherRic]

I think they will ban bitcoin because of the fearful that may affect of the economics of my country but i disagree there opinion because working bitcoin is very helpful for me especially the support financial.

Zthe government will assign a special task force to investigate about bitcoin. Then, i think they spread some news that it may be "illegal" then they will eventually ban it. If not, they will impose huge tax on it. I hope that this wont happen because bitcoin is a great help!

[nagatraju]

the government always knows what's going on in it's country...so you can be sure, they know.. and if they don't take any bad actions, then you have a good chance to change your life

[BTCMILLIONAIRE]

I guarantee you right now that the government, all governments know about Bitcoin by now. It is no longer a secret. People who have not heard about it, I just don't understand how this is possible. It is being advertised on all media platforms now. At least, cryptocurrency is. And this fact alone means most people should have been exposed to BTC already.

Now, what will this mean for governments? Well, they absolutely do not like it at all. Bitcoin represents an existential threat to them, because they have no control over it. Money is the main way governments track their citizens. Crimes as well, are often or usually solved by tracing or following the money, as they say. Without this paper trail it is going to become much, much harder for governments to oppress their citizens, which is a great thing.

It's mostly advertised in finance sections of media. Most people don't watch any of that and only care about their next iPhone or the next Gucci Gang. Citizens oppress themselves by the way. If they spent any amount of time studying their environment there would be no poverty and no significant levels of corruption.

[moonfrost21]

I think they will ban bitcoin because of the fearful that may affect of the economics of my country but i disagree there opinion because working bitcoin is very helpful for me especially the support financial.

The bitcoin is already known widespread here in our country, but since it doesn't have a big impact on our economy yet. Our government is just overlooking the people and companies who are earning with this currency. That means, there are not tax or certain regulations yet but obviously, they won't ban it. I think what are they going to do later on when they have the means to have a record of people who are earning from Bitcoin is to put a tax on it.
I hope that they won't ban the use of bitcoin in your country, maybe they can just regulate the use of it so that they can also help you secure a financial stability in the future.

[webelong]

If ever that the government here know that bitcoin has so much potential to yield and profit more money then it will be corrupted by those hungry beasts that are so greedy.

[Protected101]

In my country now bitcoin was very popular and many people here are using it.And I am sure it is known also by our government  and in fact it was supported by our Central bank because of good feedbacks that it can help our currency and monetary.

[Kim Ji Won]

I think they will ban bitcoin because of the fearful that may affect of the economics of my country but i disagree there opinion because working bitcoin is very helpful for me especially the support financial.

It depends on every country's point of view about bitcoin but in my country, they will not do anything that could cause turmoil to people who use bitcoin. Besides, our financial institute and government supports the use of it and our central bank legalized bitcoin for some time now. They view bitcoin as something that could help the state of our economy.

[Pasabm]

In my country says that using bitcoin will violate state laws. The statement is not a prohibition against its use but a strong statement against the cryptocurrency. Stated by Bank Indonesia that Bitcoin and other virtual currency are not valid currency or payment instruments in Indonesia. People are encouraged to be careful of Bitcoin and other Virtual Currency. In cases where the risk of ownership / use of Bitcooin is borne solely by Bitcoin owners / users and other virtual currency.

[JohnBitCo]

I think they will ban bitcoin because of the fearful that may affect of the economics of my country but i disagree there opinion because working bitcoin is very helpful for me especially the support financial.

Doen't matter if they government of our country or any other recognize the disadvantage of bitcoins and banned it. We people still use it even they banned. In china most of people still using bitcoin and investing on it.
But hey who's know they don't ban the bitcoin but applied some tax on the transaction because there's a lot advantages of bitcoins.