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

[God Fist]

They will probably ban websites that deal with it because they don't want people to get rich because of the dictature we are living in .

[BlackBi88]

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.

If the government discovers bitcoin exchange, they will forbid it in my country. My government will ban the bitcoin trade next year. I do not like this at all   

[killerfrost]

It is not surprising that the government knows we are using Bitcoin because in my country, Bitcoin is not granted but is not approved. Bitcoin ATMs grow throughout the city, but they are not used much because few people use Bitcoin. Besides, only one bank accepts transactions with Bitcoin and it is also the largest bank in my country. Bitcoin is too alien to the people, if more and more people know it, perhaps the government will soon accept it

[streazight]

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 totally boils down to the discretion of the country regarding its legality or illegality. There are some countries in Asia that ban the usage of bitcoin since its decentralized nature makes it the perfect medium under the dark web for transacting illegal drugs. If the government of that country thinks that bitcoin contributes to the increase on their drug-related crime rates, prohibiting it may seem the obvious choice. But there are also countries that recognize bitcoin's potential to the market in terms of providing opportunities to people regardless of their status, and makes the economy liquid enough.

Where most of these governments are getting it all wrong is that they can still find a way to regulate the usage under normal circumstance in real life usage, rather than trying to shy away from it and the end still end up trying to accept it so they don’t get left out.

However, what works for country A may not work for country B and I really feel their pains though knowing how most of them really did a lot before they could curb the usage of drugs and now that bitcoin could help some of these bad guys find a means, then I won’t be surprised them never allowing it either.

[carlisle1]

In our country there are some banks that accept bitcoins,so means government know about cryptocurrency here.and i dont see any problem about it.and if the government requires taxation on every users i might say thats thier obligation and being people of this country its mybobligation to pay taxes as well.and every action that government will provide,i will accept coz i know that its for me and the countries benefits

[tumokatok]

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.

from where do you know the government will be afraid of bitcoin and ultimately prohibit the circulation of bitcoin in the country if only reason will affect the economy of a country.But your own bitcoin can help you financially.

[imamimam1234]

it's okay as long as I didnt do transaction or make a payment using bitcoin, If I only keep it nothing's wrong. it is ok if I exchanged to my national currency using online wallet. My government only announced bitcoin is not legal as a payment.

[0t3p0t]

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 governments are the first to know whenever there are new forms of assets or investments arround because they have all the connections and research teams. Some countries don't even care on crypto's and some will just implement a regulation in local exchanges and some other governments put a more strict implementation on it or just ban it totally. Here in my country central banks just warned the people for a possible fraud and scams on cryptocurrency most especially in Bitcoin so far so good there is no strict implementations other than local exchanges because there is Anti Money Laundering and Know Your Client feature that we need to comply when availing their cash-in and cash-out services. You are lucky if your country does not prohibit the use of Bitcoin because you can have the good benefits most especially when you are into Bitcoin. But what we can clearly see and expect is the unending tax.

[Gladz29]

 I think the government is very surprised that bitcoin is spread across all countries, is very well developed, it can help all the people who have no fixed income. So the government will not ban it, the people use bitcoin with good intention.

[btcminer6212]

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

We could see that countries having smaller economy like bangladesh,equador,bolivia ban bitcoin while bigger economic countries take a safer move.They mostly neither want to ban it nor to leave it uncontrolled.

They either want to legalize it or to just regulate it so that people using bitcoins would not be totally out of their control.But surprisingly,after china took severe actions against bitcoin and ICOs,south korea and vietnam have immediately followed it.in in our country,it has not yet been legalized,regulated or banned.Government decision is still unknown.

I think that it would be better to regulate bitcoin instead of totally banning it.but by making law...

[Shendy23]

I its really depend on the country if they will adopt it or ban the Bitcoin in there country to control there economic status. However, here in my country Bitcoin is really much welcome and appreciated in most of the people. People here are now eager to have Bitcoin and Invest on it. Well, the price of the Bitcoin is really volatile but we really need to take a risk to gain something from it.

[Daimon88]

Nothing i think they will invest in it or even let people who cash them out pay tax because the government always wants money and that is why they would tax it everything but people would still invest in bitcoin.

They may impart tax on us but don’t you think they will not be going to do it. Why I am saying this, the reason is, bitcoin is decentralized and this feature don’t make bitcoin easy for transactions at governmental level. They always want to circulate money in country according to their own rules but bitcoins will definitely cause disturbance and re balance, hence I think it will take much time.

[jostorres]

Nothing i think they will invest in it or even let people who cash them out pay tax because the government always wants money and that is why they would tax it everything but people would still invest in bitcoin.

It all depends on the government itself. If they were mature enough that they actually have a fair idea about what all wonders which bitcoin can bring to their country, then they will for sure go for taking very much positive steps in order to help their people in order to get maximum benefit of bitcoin. Otherwise, they will ban bitcoin and will not allow their people to go for investing in it.

[Soranith]

Our government knows about bitcoin and we don’t have any problem about it. Bitcoin was even featured in one of our local news.

[Jafri101]

I think in our country if the government took a glance at bitcoin then they will impose huge taxes on bitcoin that only rich people will be mining and using cryptocurrencies not a middleclass man like me.

[Drixy]

Our government  actually supports this kind of function on digital wares they even allow the providers of coins.ph as of now to withdraw with ease and have some little effect of some wealth of bitcoin to put it in an advantage where we can convert or exchange some currencies.

[_Dawid_]

We can observe three main ways currently, blocking, supporting, waiting. But one thing I am confident, that all that countries in spite of their relation with crypto want to tax it. And this is also the main thing that we can be sure.

[BTCMILLIONAIRE]

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'm pretty sure that every government already knows about Bitcoin. Switzerland is actually very pro Bitcoin, which isn't much of a surprise given that they've got a position as the finance capital of the world due to the former banking secrecy which they will seek to replace with the blockchain.

[machinek20]

First The government will do observation, if the scale of the users is still small and not affecting the country too much, then they will not care, but if its already so many users, then the government will either regulate it or ban it, bitcoin maybe help you financially but the country is lacking of tax income because of bitcoin

[BTCMILLIONAIRE]

First The government will do observation, if the scale of the users is still small and not affecting the country too much, then they will not care, but if its already so many users, then the government will either regulate it or ban it, bitcoin maybe help you financially but the country is lacking of tax income because of bitcoin

Government can't do shit anymore at this point. It's way too late to stop the train.