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

[ghostunicorn]

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.

Do you know what you said? In some countries, in Africa and Assia, your statement can be a reason for jail term. Beware of this please. Maybe you live in a free country, but not all of the forum users live in those free countries.

If governments decides to stop it, there is no option to turn bitcoin into cash, obviously.

[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.

Do you know what you said? In some countries, in Africa and Assia, your statement can be a reason for jail term. Beware of this please. Maybe you live in a free country, but not all of the forum users live in those free countries.

If governments decides to stop it, there is no option to turn bitcoin into cash, obviously.

Thankfully you don't even need to turn Bitcoin into cash to make use of it, hence my assessment that governments are way too late to the party to stop it now.

[cherrymobile]

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.

Dont worry ! Because they switching in bitcoin cash that no goverments knows so if the bitcoin go down and it decrease the bitcoin cash is the one who always there.

[chelle5]

If the government will have an idea about they will try to destroy it if it will bring destabilitation on the economy.For now people thinks that bitcoins are scam so for now they wouldn't care.

[yamortsac]

I think government in our country knows already about bitcoin, but they neither ban it nor legalize it. And i think as long as bitcoin would not affect the country's economy negatively they would not ban it. If they know that bitcoin could help improve the lives of every users they would just allow them to use it.

[yusupjatigumilar]

Certainly the government will block bitcoin because it is feared will make the value of the currency in the country will weaken and make the country will experience economic crisis, but if bitcoin just become an investment commodity then the country can come to invest in it and make regulations that controlling the commodity so that the country can controlling bitcoin prices that have been dominated by foreign individuals to anticipate the BTC price monopoly.

[Julia_bitcoin]

My the government know bitcoin and will find forms of regulation of the crypto-currency, introduce restrictions.

[okissabam]

If ever the government know about bitcoin in my country I think it will be regulated by the government and would want to moderate it if they knew how much its worth. Although a lot of people already know about Bitcoin and other cryptocurrencies they still are not doing anything about it or maybe are planning to regulate it.

[bohr]

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 going to have a double effect, in one hand the economic benefits of bitcoin are going to be great for the general population but at the same time it is going to have a negative effect in the banking industry and in the amount of taxes governments are able to raise and since those two are extremely powerful in our society then it is likely we are going to see a banning of bitcoin with the excuse that it is for the greater good.

[futuret]

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 in my country knows about bitcoin, i think they would want to pay us taxes because many people in our country are earning money for free and the government doesn't earn any money from people who uses bitcoin, so they also want to earn money from it through taxes.

Yes the government will force us to pay the tax and the bitcoin value and the price will be very high but it will say is to pay the bills using the bitcoin and the this is the best price of the bitcoin at the low price I hope the bitcoin is going to rock the price of the bitcoin I can see how fast the bitcoin price is increasing and this is the time to buy the bitcoin and to hold for the long time I hope the government of the country will know the bitcoin soon.

[Hamstead]

If the government will have an idea about they will try to destroy it if it will bring destabilitation on the economy.For now people thinks that bitcoins are scam so for now they wouldn't care.

Probably they won't if they want to help their people's living. Bitcoin is giving hope to the people to have a better life, although the government won't benefit on this but maybe they should have to look for the benefits of the majority. I think, is the best way to be made by the government is just to support this. The other  option is to regulate bitcoin and collect taxes so the government will have a share on these.

[PizzaBTC]

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.

[Perseusallen]

I probably know that Government is knew that bitcoin is really existed. Cause look every country there was a thousand and more that bitcoin miners.
The main factors of Bitcoin or other crytocurrencies is Government. Cause nobody owned Bitcoin. So if the government will interfere in bitcoin. Bitcoin will dump his value.

[OrangeII]

I think all the governments in the world know about bitcoin. only, there are some who use bitcoin, and some that make it illegal. Well, the government sees different things with bitcoin. whether it is profitable for the country or not, which is certainly currently bitcoin development in the real world is not so fast.

[wdnj]

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.

Nothing will happen to bitcoin because the government already know about it and it also know the users of bitcoin here so I think they allow bitcoin to help our economy and reduces unemployment from here and that’s why day by day its users are going to increase in my country and it work in any part of my country as well.

[magz]

I guess in our country, the government already knew about Bitcoin. Actually we have Bitcoin wallet here that was created by local people here. And I think they are not against totally, but some public person are against and telling negatives about Bitcoin.

[waynechong1995]

It depends on the nature of the country's main economy, when it relies on strong export its no good news are bitcoin could facilitate local currency going overseas, similar like how money laundering works to avoid taxation or anonymous huge transaction that was deal upon illegal stuff, on the other hand small countries that eager for foreign investment as well basically want their people to have more buying power, would embrace bitcoins in their economy, take Thailand for example it's excited to see their implementation to enhance tourism as well Japan to maximize their exposure within cryptocurrency and existing goods/services.

[katiecbell]

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

If the government gets to know about the Btcs in the country they would probably not take any step to ban its usage or to take the whole system under control. This is because Btcs are anonymous although with some kind of imperfection.

They do not belong to anyone so it is always possible to continue with the use of these coins even after being noticed by the law making authorities.

[Bowly88]

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 dont think that government do not know that bitcoins exist and is been using in our country, I know they know that because we have a banknthat accept bitcoins in exchange to money and we can easy withdraw our bitcoins in a real cash using that atm machine that banks have. And even though the government knows about thus I do not think that they will banned it because a lot of unemployed people are going full time in this which makes then incapable on doing some bad thing because this would be much easier to do than to steal money and much profitable than it.

[Predator25]

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 government in my country recognized the used of bitcoin even though it was not yet declared legal. People here arr are using it as a form of payment, so far we dont see any sign the government would ban it.

There were countries who sees bitcoin as a threat to their economy such as Venezuela and China, those government sees the larger picture. Once newbie like us looks at bitcoin we would think that this would affect nothing but instead it is beneficial for us. But the fact is that, even we could gain profit from this,some Government dont see anything that this benefits them. Simply because they dont have the full control over it, because they dont have the full control, people could  and tend do illegal activities which then becomes a threat for the government.

I think they will make a move to have a power on it or a share in every income of the people who earns bitcoins. And the worst part if they will put some taxes on it. A large pencentage of tax for them.