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

[Jedzkie050617]

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.

in my country philippines i think if they are already aware of what bitcoin really is,they will probably put tax,which i think is not a good one.the small earners like me will be the one really affected.every transaction will have tax plus the miners fee and add the widrawal fee.just think how much will they earn.while small earners like us almost nothing to left.well i think much better than getting banned right?

Same here, I live in the Philippines. We already know what government we have. As expected there will be a tax on every transaction we have, like processing fee or even just buying in supermarket tax is always at our side. How much more on bitcoin having a good equivalent peso from one bitcoin for sure our government will want a share. I know someday it might be happened, so for now we're so lucky that we already know about bitcoin and to earn more of bitcoin. Hopefully our government will study and gain knowledge about bitcoin that makes everyone of us to be comfortable and easier to make a good economy.

[Indrawan77]

Bitcoin gives advantage to the user not for the country, so it is reasonable if the government want to banned bitcoin, but bitcoin also give a good effect for the country, people can get more money and there are a lot of new job appear after bitcoin come out, so the best idea from  government is to regulated bitcoin, my government already aware of bitcoin but he hasn't take any action yet

[ilkach]

BTCIn Russia, they tried to introduce laws, according to which, a person could be imprisoned for using bitcoin. Now some crypt exchange providers are blocking, providers are blocking cryptsites, ICO projects. All this is because, the money goes past the ticket office and they do not control them. They try to prohibit and immediately create a cryptorubl, which is taxed.

[Vaculin]

Bitcoin gives advantage to the user not for the country, so it is reasonable if the government want to banned bitcoin, but bitcoin also give a good effect for the country, people can get more money and there are a lot of new job appear after bitcoin come out, so the best idea from  government is to regulated bitcoin, my government already aware of bitcoin but he hasn't take any action yet

That should be the best thing to do to legalize bitcoin.In my country,i really think that the government has not been aware of the occurrence of bitcoin.Maybe if the government knows it already,i'm sure they will study it first before deciding to legalize or banned it on the other hand.And i don't think banning bitcoin is a reasonable thing,they should be thankful instead because through bitcoin unemployment in the country will be minimized.

[taiwww]

Bitcoinis is not known in every part of my country.
People from metropolitan cities knows it.
We have bitcoin exchanges in our country.
Government itself has not decided the status of bitcoin in my country.
Its not banned transactions of bitcoin.
They are studying effects and side effects of bitcoin on our economy.
Central bank of our country advised its citizens not to use cryptocurrencies.
Many Asian countries which earlier allowed bitcoin as a legal tender are trying to regulate it as they fear the decentralised crypto money is getting used as a medium under the dark web for transacting illegal drugs and terrorist  activities.

[RajaJudi]

I doubt that the government can do anything significant to bitcoin if they know about its existence. The government controls everything in their countries, but they can never control bitcoin because it is decentralized, anonymous. Using bitcoin will give you the chance to hide all of your information from the government

[appleffi]

Our government here in the Philippines already know about bitcoin but they have not done any actions such as to ban this thing in our country. They just proposed to regulate these cryptocurrency not only bitcoin on how it flows in our country. It is not yet widely accepted as a medium of exchange in our country  but a lot of fuss are on going right now regarding bitcoin. 

[olushakes]

There is hardly no country in the world that its government does not know about bitcoin but what is going on is what they will do about it. Some government are of the opinion that bitcoin population in their country is not enough to command the amount of attention to disrupt the economic indices of the country and thereby they just ignore while some are already seeing the effect of bitcoin in bad light and that is why they are taking actions towards it. (China comes to mind) in my country until then, there is nothing to be done.

[ivrynx]

With the popularity of Bitcoin now, I think people will agree Bitcoin to be as digital currency, even without fully understanding what Bitcoin is, since that is what the mainstream media is portraying. I think this countries that do not have any any access to the internet, will be the ones having a hard time in accepting Bitcoin, since it will be all new to them and the technicalities are still difficult to explain even if you are investing for so long now. It will also depend on the ideology the country follows, if they will accept Bitcoin to be the future or will still rely on Fiat currency.

[KuromaYoichi]

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.

In my opinion, if they find out the existence of bitcoin, then they will try to tax it, they will create regulation for bitcoin so they can benefit from it, but if they can't find the solusion, i believe they will just ban bitcoin trading. In my country the goverment has a lot of more important issues to solve so i don't think they will care that much about bitcoin.

[traderethereum]

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 guess my government is already know bitcoin although they don't give any statement about accepting bitcoin or not but i think for now, my government will let people to use bitcoin for their own purpose. beside that, i think my government know that bitcoin can help their people to make money and with bitcoin, my people can have an additional income and if they still doing something with bitcoin, then my people can solve their financial to better than before.

[dewi91]

the government in my country know bitcoin but they not admitted and not banned bitcoin.. bitcoin can't use in my country as a payment but the bitcoin users allowed to earn bitcoin.. maybe the government just not ready yet to legalizing bitcoin..

[deathwish]

My country knows about bitcoin for sure. But government has no communication about it in the mainstream(neither for or against it). They will not interfere as long as it doesn't threaten their system (financial & Political). If it will infringe upon it, three things will happen. Reap the benefits out of it (which will be privately) Or Ban it altogether (will be public) OR policing the cryptocurrency domain.
Many think that the third is not an option but I do not agree. As per me, regulations and policing will be enforced as this grows big and that is the future.

[carlfebz2]

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.

In the situation of my country government already accepted bitcoin but only allowing one exchange but still its regulated by them which means transactions on btc conversion to local fiat would still be limited. I cant say that there would come to a point on where they would decide to ban bitcoin but possible if they saw that people who are earning much on here with bitcoin doesn't pay tax then they might do such thing.

[albert11]

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.

Bitcoin is known here in our country.  And the fact that bitcoin can be bought at conveniece store, remittance center, and banks might give us an idea that it is legal or known by the government.  Plus I think the government here in my country receives atleast part of the earnings of those companies in every transactions made through bitcoin.

[radjie]

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.

What's happening in my country is that the government has not legalized Bitcoin or also banned the use of Bitcoin. The government only appealed to the public that the use of Bitcoin is beyond the responsibility of the government and considers Bitcoin not a legitimate means of payment, as it is still a matter of debate.

[golek upo]

in my country , our government already know about bitcoin, but they do not take steps to ban or legalize the use of bitcoin.

[buxlover]

Yeah I do think so that bitcoin is helping many people for getting the good salary or passive income which can make them rich too if its bitcoin. :-)


Those who had problems getting the job now can work online form he door step of their home and comfort to earn huge money. This is the power of bitcoin and government must know and act about it. They should really consider our concerns about using the bitcoin and lets make it more legalised.

[Natalia R]

I am from Bulgaria, a small country in Europe. If they know Bitcoin, maybe they will impose a high tax on it..

[ivanst776]

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.

in my country philippines i think if they are already aware of what bitcoin really is,they will probably put tax,which i think is not a good one.the small earners like me will be the one really affected.every transaction will have tax plus the miners fee and add the widrawal fee.just think how much will they earn.while small earners like us almost nothing to left.well i think much better than getting banned right?

Depends on the tax amounts obviously, but long term is good news IMO . Like you said, better apply taxes on transactions than banning cryptos.
Honestly, as far as I am concerned, if in the future my country is thinking about banning Bitcoin, I would have no problem moving overseas, probably to Malta or such a country close to my home and Bitcoin friendly. In Asia, there is Singapore but cost of living is way too high there to be a good option.

If taxation system is implemented on the bitcoin and is accepted by the government then there will be a lot of development and progress in the country as well as there will be a lot of the boost in the economy and taxation is the most important thing in the country and that country is more progressing now in which taxation amount is used for the development processes, so my government will welcome and allow it.