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

[Flor1982]

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 will depend upon the country because at the moment there are countries that really ban bitcoin but they are only few compare to the large numbers of countries that welcome and adopt bitcoin then regulated it to ensure that bitcoin will not be use in illegal activities in their country. So i suggest that you state the name of the country in which you where belong so that we could determine your country's stand against bitcoin.

[UnusualMouse]

I think the government in my country already knows the presence of bitcoin. Its either they don't sense any threat from bitcoin or just ignoring bitcoin at all.

[kafiddrhman]

bitcoin has been known in my country since 2015 until now and the government knows it and so far there is no ban on bitcoin use in my country but currently government in my country has been billed with bitcoin package and prohibited to do payment transaction with bitcoin and this because of pressure from banks to prohibit payment transactions using virtual currency because it is deemed not to have official legality. but I think this is really unfair when bitcoin has been popular in my country.

[TERA2]

The government is currently first working behind the scenes to try to create media diversions away from bitcoin and to try to invent technology that will be able to block bitcoin before they just come and outright ban bitcoin - which wouldnt look very good on whatever political party did that.

[balakang00]

I think it will be widely accepted by people and the government. It will be used for transactions and retailers will accept bitcoins as part of the business especially those of with modern technology on the track.

[Wittycoin]

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.

For me also bitcoin supports me financially. But I don't think bitcoin can make bad thing to the economy of a county because if you have a job you have money to spend for goods and more goods sold more profit and more profit more tax to be collected by the government. So I don't think they will ban bitcoin because of economy.

[Yadamosan]

I think it will be widely accepted by people and the government. It will be used for transactions and retailers will accept bitcoins as part of the business especially those of with modern technology on the track.

if people will only realize that this system was made for easy up transactions, better to embrace the change and government needs to adjust and not to interrupt this digital currency so both party will benefits, its just needed to be more advertise as well in order to gain more knowledge about the new
system.

[raven7886]

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.

For me, I think this sorely depends on the pulse of the people on how they are accepting or if a vast majoritt of the voting pu lic are really using and improving with cryptocurrency which as such can be a progress or a detriment depending on how the government views it

Actually, everything depends on how the government will end up perceiving bitcoin or cryptocurrency at large. For now, for mine, there is really no problem about that yet and I am sure there would really be no problem.

The thing is that, except for countries like China, where Socialism and Communism, persists, it would be hard for any democratically country to just wake up one day and decide to ban bitcoin, which is why the majority of countries will still end up making use of bitcoin anyway.

[Maddinson100]

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.

For me, I think this sorely depends on the pulse of the people on how they are accepting or if a vast majoritt of the voting pu lic are really using and improving with cryptocurrency which as such can be a progress or a detriment depending on how the government views it

My country’s government already knows about Bitcoin, but they are saying nothing about it and people with interest are investing into it everyday without having issues with the government. So I think they have no problem with and it is not having negative impacts on the country’s economy, cause if it does, they would be kicking against it by now.

[thecoder2017]

Today there are news already stating that Bitcoin is a scam and they warned people about this but i think if the government will be familiar with Bitcoin maybe they will implement a tax for this.

[merlyn22]

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.

i think our government will not ban bitcoins but they will put tax on earning bitcoins. i won't disagree if bitcoins help our economy to become more richer... but some country ban bitcoins its beacuse they think bitcoins are being use by iligal transaction or it may be big effect on banking income.

[wuvdoll]

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 will depend upon the country because at the moment there are countries that really ban bitcoin but they are only few compare to the large numbers of countries that welcome and adopt bitcoin then regulated it to ensure that bitcoin will not be use in illegal activities in their country. So i suggest that you state the name of the country in which you where belong so that we could determine your country's stand against bitcoin.

Yeah, the few countries that are even banning bitcoin right now are quite few and that is because of the kind of governmental structure that they have and whatever they decide to do will really not have much impact on bitcoin as a whole but even show them that this is a war they cannot win.

Banning bitcoin is not something that can easily be achieved, because in most democratized countries, on what ground do they want to declare it illegal ?

[shezu007]

Until further notice in my nation there is no restriction on bitcoin yet the administration has not yet sanctioned it, so I don't know how, ideally the legislature does not disallow any movement on bitcoin in light of the fact that such a large number of individuals profit from bitcoin, If bitcoin is prohibited then they will have more issues in profiting and looking for some kind of employment is likewise extremely troublesome.

[naidray]

the gov may ban crypto ( some have already done so), but that will not stop its development and sooner or later they will have to admint it. those banning may find themseves far behind the world

I think it us impossible I think to ban crypto. Bitcoin is now too much popular and is present in almost in every country of the world. Bitcoin popularity is increasing which is now compelling the government to take any step about bitcoin, because still most of the states are silent and they do not have any statement about bitcoin.

It depends how your country will value about bitcoin and other cryptocurrencies if they know what will be the benefits of bitcoin to their economy and people. Many countries have already banned the use of bitcoin and related decentralized transaction in the internet and they know that it could be the threat to the transaction of their currency. And because it’s decentralized it could be used in illegal transaction. But my country have different point of view and they’re open to legalize it. They also warned people about investing in cryptocurrency.

Yeah, and with the way bitcoin is going, reasonable countries will only end up finding a way to at least tap from the benefit bitcoin brings rather than looking at it as a threat. Most countries will end up legalizing it openly or silently and find a way to tax the users of bitcoin probably via exchanges and I believe this would affect the country positively. Take a look at Japan and how their GDP grew in a short while, while legalizing bitcoin.

[Andrej Peiboski]

Mmm... I think that the next big war it's not USA against North Korea, but centralized powers against decentralized coins.
My opinion is that governement haven't still understood what kind of revolution is coming.

[yoseph]

Mmm... I think that the next big war it's not USA against North Korea, but centralized powers against decentralized coins.
My opinion is that governement haven't still understood what kind of revolution is coming.

I really don't think so because most governments have accepted bitcoins and have already regulated it for the use in their various countries. They know of the benefits of bitcoins to their economies and they are making sure that they don't get left behind and it would even be prudent if they also invested into them as well.

[jvper]

Mmm... I think that the next big war it's not USA against North Korea, but centralized powers against decentralized coins.
My opinion is that governement haven't still understood what kind of revolution is coming.

I really don't think so because most governments have accepted bitcoins and have already regulated it for the use in their various countries. They know of the benefits of bitcoins to their economies and they are making sure that they don't get left behind and it would even be prudent if they also invested into them as well.

By most governments you mean... Japan? There are more countries that outlawed cryptocurrencies or bridges from/to fiat (Indonesia, China) than countries that "accepted bitcoins". Bitcoins take their power and they know it.

[Zlatangu]

My country, Albania doesn't acknowledge crypto, there aren't any legislation regarding it, so i suppose the income created from it in Albania doesn't undergo any taxes?? Hope so.

[jvper]

My country, Albania doesn't acknowledge crypto, there aren't any legislation regarding it, so i suppose the income created from it in Albania doesn't undergo any taxes?? Hope so.

Bitcoin could be itself considered a general item that would then undergo taxes that any general item such as house, car or paintings do. Income taxes are generally agnostic towards what generated income, so be careful.

[shaun98]

I agree with you, most governments already know about Bitcoin, and will likely try to regulate it or even worse, try to ban it. They are scared of its decentralized feature, fearing it will take away power from them.