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

[JerryJam]

The government of my country knows about it. And even as investors. But to ban or legalize, they still can't. Because they themselves still are not well versed in this matter. But some States where corruption is rampant see the benefits for yourself.To hide their real income or to launder money for illegal transactions.

[kaizie]

In our country the government are already know about bitcoin. Many people use bitcoin and invest on it. But at the same time rising of bitcoin in our country there are so many news that has come out. There are positive and negative news about bitcoin one here says that bitcoin is a scam. So the government warned the people to avoid transactions related to bitcoin.

[tamarindbleu]

The government of my country knows about it. And even as investors. But to ban or legalize, they still can't. Because they themselves still are not well versed in this matter. But some States where corruption is rampant see the benefits for yourself.To hide their real income or to launder money for illegal transactions.

I'm not sure if the Philippine government knows about bitcoin or not but if they haven't know it yet, I'm sure that if they found out bitcoin, they will promote it. Philippines number 1 problem is unemployment, Bitcoin reduces unemployment so the Philippine government will surely promote bitcoin to anyone who's unemployed.

[meliodas]

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 that one of the fearful effects it the government gets to know everything about bitcoin here in our country is taxation. It is sure the they will automatically tax our transactions once they'll know the profit that we get from trading and investing here in bitcoin. Our government is honestly greedy about taxing. They always asks for taxes whenever they have chances to tax things.

[Peterson410]

Before the bitcoin enter our nation. The legislature is now mindful of the bitcoin framework they lead an examination and information about the how bitcoin bolster everyone to be upbeat and to help likewise in our economy. Our administration enables some foundation to utilize the bitcoin as a method of installment. We additionally have an ATM that offers to the client to rapidly do the exchange. Our legislature has a major heart the client of the bitcoin. We have the freedom to utilize it respectably

[Leanna44]

Here in my country our government warned the us not to be tempted to invest their savings to bitcoin without realizing much, that it might loose it all in a sudden fall.But we have some banks here are already released their guidelines such as bitcoin  on cryptocurrencies, that they will protect our wallets and secure our emails through cryptocurrency accounts.

[White Christmas]

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.

In my own opinion, i think if the government knows about bitcoin in their country, they can legalize it or ban it. Some countries already legalize the bitcoin in their place while other countries already banned it. They have their own reasons why they legalize or ban bitcoin in their place. I think they legalize it because they want to improve their economy while the reason why they ban it, is because it can increase the crime rate of their country.

[Heyyyrenz]

It depends on the perspective of a certain country, there are some country look bitcoin such as a big threat to their economy that's why they ban bitcoin before it start to conquer the entire country. Here are some of the reasons why they ban bitcoin.

1. The Black Market may become powerful.
2. The Corrupt People Will Launder their money through bitcoin.
3. The banks will be in debt and it will greatly affect the country.
4. The government can't put taxes on people who works thourgh cryptocurrency.

Here are some of the positive perspective of the bitcoin to a certain country.

1. Can reduced the unemployed.
2. Boost the economy (If done right.)
3. Easy transaction to everyone.
4. Fast Transaction and low fees.

Right now here's some of the things i observe or some of my ideas why country bans bitcoin and some of the positive perspective of a country.

[jademaxsuy]

Certinly nothing. The government here in our country will do nothing in the bitcoin system since it is an independent body of system that is working with or without the government system. The government could not intefere with bitcoin operation unless if the bitcoin system will involve in the process of that any government agency or its affiliation. The bitcoin system here in our country is not yet introduce to the government agency for transactions due to security reasons of bitcoin holdings. And if the government found this thing up they could not adhere blaming the bitcoin system to its operation unless someone will report and consider bitcoin as an illegal activities. Yet, there would be so much discussions to be consider and to be done.

[Ruben1]

In our case i think my country will just tolerare Bitcoin. Because as of now it is still free to engage in crypto currency besides many people here are doing business here and its still counting.,

[Senkuli]

I think almost all state governments around the world know about this bitcoin or cryptocurrency.
Many of the pros and cons are happening now, all dependent on the government of the country itself, whether they will agree on the use of bitcoin and issue a standard regulation on the use and investment of cryptocurrency, or simply reject and prohibit all forms of activities related to the cryptocurrency.
I myself hope that my country's government does not ban it, and can make good regulation for enthusiasts and cryptocurrency investors.

[Punisherx100]

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.

Here, In Philippines the organization that is responsible in terms of money, Bangko Sentral Ng Pilipinas, reports and warned the people about this new trend, cryptocurrencies.
So far, our government didn't find Bitcoin as a virus that should be eliminated but as a threat that can affect their countrymen.
Though it was banned in some countries, we should be open to the opportunities that it will bring. If w use this in senseful and logical way, this new trend will bring us to our country's success.

[wpc143]

I think the government already know about bitcoins and other cryptocurrencies and i'm sure they are planning to ban it because they fear that it may affect to the economics in the country. One more thing is bitcoin and other cryptocurrencies have no tax and they can't add tax to it because bitcoins and other crypto's are decentralized.

[rowel21]

They do and I think they planning to implemented a tax for evry bitcoin members if they gaining a salary
But its hard for them cause crypto is untouchable by any government except if they banned it 

[gwapo.zylle]

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 it is not, but they are going to gather informations and the background of bitcoin and the pros and cons that brings into the economy and also in the life of people. If it is a life changer to make it better or to worst. But for sure if the government make a research about it they can see a lot of advantages to the people because many people are instant millioner because of bitcoin and they live a comfortable life now than before. For that reason they will allow it in our country.

[Hopeful2017]

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.

Our country already knew about bitcoin and the cryptocurrencies. Fortunately, our government is very supportive in this investment thing because it brings good profit to people. However, they are giving us reminders to choose what and where to invest in to avoid being scammed. Our country also develop a "bitcoin to cash" application where you can directly sent your bitcoin to that wallet and directly and immediately convert to cash and vice versa.

[Wildwest]

It depend on the country there are some countries that also ban bitcoin and there is also a legalized. I think it's common that they banning bitcoin, because the bitcoin is still considered new and has no regulation, also decentralized bitcoin currency making them afraid to legalize bitcoin.

[CuteBaby123]

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 a cryptocurrency which is originated from the digital world. Government has regulations over the internet and they can control on what and where to in the usage of the internet. On my personal point of view, Government can stop bitcoin on their ccountry but cannot fully ban it because bitcoin is independent and will continue to exist especially when there are developers of blockchains and other platforms.

[dreico]

Well, in my country there was a rumor about prohibiting bitcoin, obviously the state already knows what it is and why people use it

[Nylelyn]

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.
[/quote
Yes bitcoin can be a threat to government since it is a decentralize system, it will be difficult for them to imposed tax and have control over it.  They are also aware that bitcoin is now very popular all over the world which makes it difficult to ban unless they totally shutdown internet. But they should realize that Bitcoin helps many people improve their living by earning big amount to make a living and and have a decent life. Government should consider to work on how to make bitcoin stronger in an unselfish manner.