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

[Indrawan77]

The most logical way is to banned bitcoin, because the government cant control the transaction and it is hard to track the users and it is making less income for the country, the government need  to control every aspect regarding to the country, but since in my country the usage of bitcoin still in small scale so it is not too affecting  the country and the government just stay idle about bitcoin

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[creeps]

Our government already knows about bitcoin and i think we will accept this kind of technology or should I say this is a must. Bitcoin offers great technology that every country should adopt, I do hope that accepting bitcoin in many countries will happen in the future.

[barabarian1]

im sure that government know about bitcoin in own country. many country accept and reject about bitcoin. im my country they watchful about it, and they do research of bitcoin, it will give advantages of disadvantages for believer.
and for me, more profit or loss depend on what doing.

[elegion]

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.

Governments will generally not support that which they cannot control, but in the end it will mean nothing, people cannot live under violence, and control when they’ve realized that they already have. Nevertheless, an exception to government involvement would be if the Free Market ecosystem had a need that the old-government could supply such as crypto-currency subsidized mining without the governments need to monopolize anyone industry simultaneously but would agree to a form of free market competition. 

[BTCMILLIONAIRE]

The most logical way is to banned bitcoin, because the government cant control the transaction and it is hard to track the users and it is making less income for the country, the government need  to control every aspect regarding to the country, but since in my country the usage of bitcoin still in small scale so it is not too affecting  the country and the government just stay idle about bitcoin

That's the most illogical way, because there will be governments who will allow Bitcoin, such as Switzerland and Estonia at bare minimum.

If other governments ban Bitcoin, the money will simply flow to those countries that support it.

As a result, the banning countries will harm themselves, while the supportive countries will prosper.


Some countries with dumb leaders might try to ban it but their citizens will pay the price.

[LuffyD.Monkey]

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 our country knew about bitcoin and even major media outlets are talking about it. They didn't make bitcoin illegal but instead warn the people to always be careful in our money because it is not regulated so they cannot protect the people in case of issues. Many are still thinking it is scam but there are also some who are making bitcoin their main source of income because earnings in bitcoin are higher than working offline for some people who earn the minimum amount of salary and the recent surge of bitcoin price proves this making some earn double than their previous jobs.

Just like in your country, a media program was also conducted in my country which was an hour time of program. The media elaborate bitcoin in detail but my country has not banned bitcoin not announce it an illegal act. Government of my country about bitcoin is completely silent.

The government has not yet been announced bitcoin in my country neither legal nor illegal. People of my country are fluently investing in bitcoin and also changing bitcoin into fiat through exchange.

[zergenyt09]

It depends on the way of their thinking. Most of our countries accepts Bitcoin I think. Only few who declares Bitcoin is totally ban in their country.

It is the reason why the bitcoin is being happened now. I can see how fast the bitcoin will give us the high profit and the amount of the bitcoin will give you the huge pump in the price of the bitcoin. it is good to be in the hurry using the bitcoin because now the bitcoin profit is high and the price of the bitcoin is the main thing now if you are willing to invest just be in touch with the bitcoin.

[Ararbermas]

The government in my country recognized the used of bitcoin also but all they know about bitcoin is full of scammer peolpe on it which making some false testimonials to recruit more client to invest on their site they dont know yet what are the positive information  of bitcoin just the negative side on it.   Im very shocked on that time when i saw bitcoin logo on tv news. Lol

[supine]

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 thing is our government already knows he existence of bitcoin and the utilization of bitcoin by the people in our country. Still, the government hust ignores it, and does nothing to stop it nor to promote it. Bitcoin has been also shown in media.

[vina.lugtu]

I think if the government know bitcoin in our country it can be ban or legalize it. If that's happen there will be some rules that would implemented that the government would benefit and control the bitcoin community that will affect that country.

[dameh2100]

In our country, we are gradually adopted bitcoin, in fact our Government are planning for the cryptocurrency regulation and have been classified as securities to regulate the cryptocurrency under our country's regulatory code. They also plan to approve and issue licenses for cryptocurrency exchanges in our country. By the way, I am from Philippines and its part of third world country.

[innocent93]

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 no fresh news for my Government, we have exchanges, ATM's and so on and, till now nothing happened, no regulations or what so ever. But who knows what future brings.

[Natsuu]

Our government just recently knew bitcoin but not the whole story of it. They just depend on what people are saying without making investigation if it's a fake news or not. What I'm talking about is there are people that claimed that bitcoin is a scam and this made me laugh. People who uses bitcoin just to deceive others are real scammers and not the bitcoin itself. Just come to think of it

[Meowth05]

I think here in our country, they will not ban the bitcoin but rather they will try to control it because of the opportunity it has. Bitcoin is very powerful in fact, there's a chance for it to change the economy of one's country so they will do everything in order to control it.

[googs84]

Scope or popularity of bitcoin is limited in my country. Only people working with financial institute are aware of bitcoins.  In metropolitan areas we have bitcoin exchanges. Bitcoin is more used as an asset rather than currency, people in our country have mobiles with internet connections but they prefer fiat currency for daily transactions. Bitcoins legal status is not yet determined by the government. But Central bank is warning citizens against use of any cryptocurrency. To prevent use of bitcoin  in criminal/illegal activities, government is planning to regulate bitcoin.
 

[Panchum]

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 some will don't like bitcoin in our country because of the news that bitcoin is a scam.As my cousin in Las Vegas Warn me that l will never be connected in bitcoin
She said that l will just waste and giving my money if l joined to bitcoin.l explained her that it's not true but she never listen to me. I just shut up my mouth because bitcoin gives me all my needs not only me but all people in our place are working at bitcoin. Bitcoin is really a big help to us. Not only for our finances but to save money for the future of my kids. And the best thing is l have a chance to be rich. Because my sister now is a millionaire just because of advertising bitcoin. So maybe some will reject bitcoin in our country but majority will go for bitcoining because it is proven in so many places that they reach their dreams in bitcoin.

[keyscore44]

It depends on country, cause some of them will want to earn some by making tax or just getting some parts of it on every transactions and some of them will just let bitcoin live.

[semarmesem195]

There are two options:
1) If the government sees bitcoin as beneficial to the state, perhaps the government will announce to the public to use bitcoin (legalize bitcoin)
2) If bitcoin can harm the state, surely the government will ban the use of bitcoin in the country (Bitcoin is considered illegal).

[bitllionaire]

I think our government knows about bitcoin now and is just to busy to make it as a priority, to many problem have been occurring like terrorist acts, drugs and much more.
I hope they will embrace bitcoin like what is happening in japan today.

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, but with then increasing need of bitcoin to be use for online purposes we can hope that like Japan they will also turn bitcoin as legal currency and we will become able to use bitcoin for different purposes.

[lordquanta]

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.

Not exactly. Countries who have banned the cryptocurrencies have different reason for banning them. Some of them banned the cryptocurrency-IPOs and not the crypto currency trading. Lately Because IPO have turned into the easy way of raising money and vanish with it in thin air. Thus as precaution against such practice many govt banned the IPOs. Out of ~194 countries in this world only 5-6 countries have banned the cryptocurrencies in totality. Rest of countries are recognizing the bitcoin and crypto in one way or other. That is some countries have recognized it as form of wealth, digital wealth, asset and so on. According to the recognition tax is levied on it. If government is collecting tax on something that means government has recognized it. And it is not illegal. Bitcoin is helpful for transferring the money from one country to other country easily. For that matter with further development there will be more efficiency in the bitcoin transaction.