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

[Gerci]

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.

[Supercrypt]

In my opinion maybe they just let people to invest in bitcoin. The government in my country already regulated bitcoin, bitcoin is legal since many years ago. So people has a freedom to use bitcoin. Because the government wants their people to earn extra income to help the economy. Bitcoin is already accepted by the people and become popular in my country. Government wont ban bitcoin because this is very useful to the people especially now.

The governments who are for the people sakes will never stop bitcoin to enter their regions because accepting bitcoin means to allow development and progress in region and bitcoin has most profitable rate which make the citizens lives more lavish so if my government will know about bitcoin they will allow their citizens to earn and bitcoin is name of bring revenue to the region and we can see the progress of investors.

Right! Except for some greedy controlling government who ends up seeing bitcoin as a threat and then seeing that this could create a huge monetary revolution in the country are going to be the ones going against it right now.

What is the point banning bitcoin when it can just be regulated and where is even human right in this case except for the fact that they have been used to enslaving their citizens ?

[kkukkugaga]

If that happens, I think they will just let the people invest on btc, because they know that it will help the people as well as the economy.

[pedromonteverde]

If that happens, I think they will just let the people invest on btc, because they know that it will help the people as well as the economy.

I think they won't do as you said because they're afraid that Bitcoin could damage their Bank system. So most countries will try to shut Bitcoin down.

[Liquidathor22]

Actually, the governments have already known about the presence of bitcoin. Its either they are silencing their selfs because they don't see that as a threat to them, or they are silently observing and very soon creating a law about it.

[intoy_victor]

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.

Yes I agree with your opinion. If our government know about bitcoin maybe they will banned it. Because surely it will affect the country economy. It will affect there employment rate. Because who would like to work in supermarket, hotel or even in government if bitcoin surpass the labor of it.

[kingragnar]

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.

Your guess is probably true. If it is known to the government and how it is running it is likely that it will be banned by the Government as a result of the absence of tax that they may get and no law enforcement in its use and in the forbidding action. Certainly bitcoin for government is an illegal practice and it is illegal to enter our country. Because of its absence of tax and laws on it

[zhelis74]

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.

Your guess is probably true. If it is known to the government and how it is running it is likely that it will be banned by the Government as a result of the absence of tax that they may get and no law enforcement in its use and in the forbidding action. Certainly bitcoin for government is an illegal practice and it is illegal to enter our country. Because of its absence of tax and laws on it

I think even if the government knows about bitcoin in our country then probably they don't care as long as there is no crime that are related from bitcoin and instead they should realize that many of their citizens that are benefited or gain financial profit from it and above all those who are jobless can have the opportunity to income.

[Liquidathor22]

I am sure the government will want to have control in bitcoin. They will make moves on how to regulate the use of the cryptocurrency. Governments always want to have control in everything.

[kobe24]

No here in our country bitcoin is not ban even the government knos it as a matter of fact they recognize it and publish in articles but it doesn't mean it's legal.

[altcointalk14]

I am sure the government will want to have control in bitcoin. They will make moves on how to regulate the use of the cryptocurrency. Governments always want to have control in everything.

Unfortunately, we still have not heard a clear confirmation of the benefits of this technology by the authorities. However, representatives of some large banks (including state-owned banks) have expressed interest in the krypto currencies. I understand that they still have very limited knowledge of the benefits of this tool.

[pathapoddo]

Every countries government know that Bitcoin or crypto currency holder are here in their country. But they don't detect it because lack of information. Most of countries are banned Bitcoin or online currency or warned the public to use it. As your question what will happen if government knows about Bitcoin I am sure they will ban it. After all they can do it only. They are just fool.

[Bitcoinbitcoin0909]

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 know the bitcoin in my country and make it legalized maybe the economy will rise and grow higher. Of course it is possibly spread by the government like giving some programs about bitcoin and after that many users will join. Users may be taxed from joining in bitcoin and those taxes will be beneficial to the country.

[Liquidathor22]

I am sure the government will want to have control in bitcoin. They will make moves on how to regulate the use of the cryptocurrency. Governments always want to have control in everything.

Unfortunately, we still have not heard a clear confirmation of the benefits of this technology by the authorities. However, representatives of some large banks (including state-owned banks) have expressed interest in the krypto currencies. I understand that they still have very limited knowledge of the benefits of this tool.

I have heard rumors that the banks have already invested on bitcoin secretly. LOL Well I guess, they know how profitable bitcoin could be, I am sure they are making a way how to adapt to bitcoins.

[taiwww]

Many countries allowed bitcoin to function in their country. Later on finding misuse of bitcoin as well as its effect on their economy these countries banned bitcoin or decided to regulate the same. In my country government has allowed functioning of bitcoin exchanges. Bitcoin as a currency is not at all popular at my place. People prefer to invest in it as a long term asset. Trading in bitcoin currency is also popular. But still central bank is advising people not to invest or trade in bitcoin. Government is planning to regulate bitcoin currency. 

[Majharul Saiif]

Generally, government is all for a country.Because, government is elected by people. In my country, govt don't legalize Bitcoin.If govt knows about Bitcoin properly and also knows it's advantages,I think that govt will legalize Bitcoin in my country.

[Liquidathor22]

Generally, government is all for a country.Because, government is elected by people. In my country, govt don't legalize Bitcoin.If govt knows about Bitcoin properly and also knows it's advantages,I think that govt will legalize Bitcoin in my country.

I am sure the reason why they ban bitcoin in your country is because of the reason that bitcoin is a decentralized currency and there is no way the government can regulate it.

[Cling18]

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 our government will require us to pay taxes if they know bitcoin. Our government always seeks ways to earn taxes for our country's expences which is quite hard for us tax payers. However, in our current situation, bitcoin is a big help for most of us users since it provides us profitable investment

[Zandar]

For now they decided to tax it. Ofcourse they cannot control what and how many crypto one has, but when you turn any into fiat you'll have to pay taxes upon them. The first 25k per year is taxfree anyways.

[cryptojaani]

I think that my country's government will not prohibit bitcoin, but it will impose a high tax on it, which will lead to loss of interest from investors.

in my country the government and banks already know about bitcoin and they are very afraid of bitcoin due to the transparent bitcoin technology and make the governments fear if they use it for corruption it will be seen. I think bitcoin is new and it takes time to adopt by different countries. Most of the countries in Europe are accepting it and hope that it will also got some advantage and will acceptable by developing countries as well.