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

[heraldlazaro25]

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 there are two things that can happen if a government knew bitcoin in a certain country. The first one is, they will ban bitcoin in their country. It is because of some reasons like it may affect the banks in their country etc. The other one is, they will legalize bitcoin and can be used as a way of payment in many retailers in their country.

[BitcoinNational]

The countries are well aware of BTC. There are two attitudes to adopt finally

- you make it illegal. Countries that don't want to empower BTC are to me suspect and want to keep full power on the economy.
- the others who  legalize it, these last understand which advantages they can have from BTC and are more honnest

[regan101]

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 there are two things that can happen if a government knew bitcoin in a certain country. The first one is, they will ban bitcoin in their country. It is because of some reasons like it may affect the banks in their country etc. The other one is, they will legalize bitcoin and can be used as a way of payment in many retailers in their country.

For me, banning btc in the country seems like banning the social media which I think will never happen. The government gets advantage to the involvement of its people in btc from the income that are converted in cash or paper money. Once converted, potential tax will be collected when used for purchase.

[explosion]

In any case I think our government will do everything to take benefits from people using crypto... I don't know how, but they are known racketeers

[dhas]

If the time come that our country know about bitcoin.
I think the first thing that they will you is to access bitcoin if they can have income from it.
And if they found out that it is possible im sure they will put tax to every transaction of bitcoin.
Or if ever they think that it will never gonna do with bitcoin , im sure they will going to banned it.

[jessicawelsh]

The goverment knew Bitcoin is in my country so they prohibited us using Bitcoin for payment. We can sell, we can buy but we can't spend Bitcon to buy anything. That's illegal.

[bennypagulayan]

The goverment knew Bitcoin is in my country so they prohibited us using Bitcoin for payment. We can sell, we can buy but we can't spend Bitcon to buy anything. That's illegal.

Yeah, if they can't control anything they will list in into the prohibited things. Goverment's things.

[Gumpfire]

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 of my country knows about bitcoin, i think they will add tax to the people who uses bitcoin to earn money because they also want to earn money by getting the money that we earned in bitcoin. Because if we do not pay taxes i think they will ban bitcoin in our country.

[Zabrielle]

Do you think the government is not yet aware of bitcoin? I dont think so. I think they are aware of this and mybe they are not yet threaten of this thats why there is not any reactions. It is already rampant to different countries. If bitcoin is a threat they could have banned it already.

[CarnagexD]

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.

I think that if ever our goverment knows that people are earning money for free, it will not be a good thing or idea for them so what they will do is that they will not ban bitcoin or cut or block bitcoin services in our country instead they will make a way to earn from it by collecting taxes from every bitcoin user. They will take advantage from it.

[CuriousGeorge]

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.

I think that if ever our goverment knows that people are earning money for free, it will not be a good thing or idea for them so what they will do is that they will not ban bitcoin or cut or block bitcoin services in our country instead they will make a way to earn from it by collecting taxes from every bitcoin user. They will take advantage from it.

That's really normal if bitcoin taking taxes from you, you use their facilities and they need your taxes to build facilities, not being offensive but if you're not paying taxes or in the other words also means breaking the law, you can simply get off from your status as a citizen from your country because it's what you want.
Paying taxes is one simple way to make a contribution for your country, if all of people in your country never pay taxes, I can imagine how backwards your country will be.

[Chrisjay29]

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.

maybe your right...but its possible that they will accept it.
If they just listen about bitcoin and how it work and how bitcoin help economy
 possible they will accept it...

[Capt00]

We can't keep on hiding this for a long time, and most probably the whole countries knew about this but their approach towards crypto is something not in good way. And we all knew that some countries are banning this just because they can't benefits from here at all. But it won't affect the entire crypto especially in bitcoin, instead it makes bitcoin community become more stronger.

[vhiancs]

Bitcoin currency has been banned from other countries maybe because it is used on the dark side like using it in some transactions in DARK WEB or DEEP WEB. bitcoin is used to purchase illegal equipment such as guns, drugs, gun for hire.etc. that is what all i know. but here in the Philippines it has not been forbidden yet because the government from philippines has not yet focus to a cryptocurrency.

[LogitechMouse]

Bitcoin has been banned in some of the countries in the world because of some reasons but here in our country (Philippines), they know that many filipinos are using cryptocurrency already but they don't ban it. I hope this will continue and I hope some if not all of the countries that banned bitcoin will uplift the ban and make bitcoin be usable in their country.

[FameBroker]

It's hard to imagine a government that doesn't know about the existence of Bitcoin, no matter how small or underdeveloped the country is.

[peterthegreat]

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.

I think that if ever our goverment knows that people are earning money for free, it will not be a good thing or idea for them so what they will do is that they will not ban bitcoin or cut or block bitcoin services in our country instead they will make a way to earn from it by collecting taxes from every bitcoin user. They will take advantage from it.

That's really normal if bitcoin taking taxes from you, you use their facilities and they need your taxes to build facilities, not being offensive but if you're not paying taxes or in the other words also means breaking the law, you can simply get off from your status as a citizen from your country because it's what you want.
Paying taxes is one simple way to make a contribution for your country, if all of people in your country never pay taxes, I can imagine how backwards your country will be.

NOthing. What is it they're going to do? Bitcoin is a decentralized computer network that spans all over the globe. All you need is a phone and the internet to join the network. They are losing power and losing power fast. They are scared and do not know what to do so they try and trash BTC, but that didn't work so they began talking about blockchain and how important the blockchain is.

[aencarnaci]

Hi shainasaz.
There are some countries forbidding any activity related to cryptos, recently Nepal. Venezuela (from what I know).
But some other countries are Bitcoin friendly, Korea taxing transactions, obviously Japan very friendly towards Bitcoin, Singapore as well. Australia willing to regulate, which means they are accepting Bitcoin.
Where do you live?

For those who may care to want to get the list of countries that have officially legalized, unofficially legalized and officially illegalized bitcoin, they can check the link below;
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
Apparently, for now, just few countries have declared it illegal which to me is more like them being uninformed or they are so not bothered about the fact of trying not to hide their controlling freaky nature to the public which bitcoin is going to take away from them once the masses realize that.

[Rajamuda]

The country's government or the central bank (the largest bank) in the country where I live already knows bitcoin, and they say bitcoin is still not legal to be transacted or as a medium of payment to buy anything. The country still carrying the risks and it seems still learning the technology of bitcoin and blockchain more deeper again. For citizens who still sell bitcoin to local currency, doing activities to earn bitcoin by various ways or other crypto currency, that's not prohibited but if get the risk.. it's borne alone consequently.

[darewaller]

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

You shouldn’t be afraid of the government imposing any tax on bitcoin cause I don’t see any way for that being possible. What you should be afraid of whether they will ban it or not, because some of the world governments does not accept bitcoin, and lots of them have banned Bitcoin cause they believe it will affect their economy negatively.

Well, if you were the government and you find out that bitcoin won’t favor your country, you will also have to do the same to make your government a better one. I have seen a lot of countries that banned it apart from China.