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Topic: What will happen if the government know bitcoin in your country? - page 15. (Read 4648 times)

full member
Activity: 868
Merit: 185
Roobet supporter and player!
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 we have the same country. Here in my country, government is aware about cryptocurrency. Bitcoin is not prohibited nor implemented in our country. They don't care the way the people used this as transaction regardless, in other criminal activity. I believe that someday, we will acquire the use of cryptocurrency as an exchange and transaction.
sr. member
Activity: 910
Merit: 260
Bitcoin is accept legal way. Then country will accept the bitcoin for the people future growth. People will be geowth country will be growth. Bitcoin is use for the future investmet and improver your business process. It help to for the connect the people and country. Then you will improver you country economy and country growth.
full member
Activity: 770
Merit: 126
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 should realise tje potential benefit embedded in bitcoin and crypto currency in general they will utilise the opportunity and be using that way as another source of revenue generation from tax in which their populace will pay via crypto currency related business. And if they ban bitcoin that will be a lost their side.
full member
Activity: 378
Merit: 100
If a country has received bitcoin, it will automatically develop in the economic sector.
If that will happen it will be good for my country, because in that way bitcoin is we will be more supported by our goverment and if the goverment will definitely support bitcoin many people is we will love to use bitcoin and in that way bitcoin in my country is we will be more good than before.
full member
Activity: 340
Merit: 100
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.
Maybe the government will take advantage to get some tax about this.matter because we all know that bitcoin is decentralized and the mastermind or the real manager to make it works is still unknown. Maybe the government will take advantage to get a percent. Giving some taxes to those who are earning bitcoins also when theyre selling it to convert into fiat.
hero member
Activity: 910
Merit: 500
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 neccessarily especially if most of that countries are lenient when it comes to this. Cryptocurrency is not something that is evil for countries but governments are approaching this with caution as they are still looking this up so theh might incorporate it
sr. member
Activity: 574
Merit: 267
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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.
There are two things that may happen if the government in you country knows about bitcoin. The government will either ban it or legalize it. There are already some countries in the world that ban bitcoin in their place.
full member
Activity: 672
Merit: 105
In my country is very open to new things, Bitcoin is no exception. The use of Bitcoin has been recognized in my country even though the government has not yet legalized it. Although Bitcoin is not legal yet, Bitcoin users in my country are very high.
hero member
Activity: 1358
Merit: 834
If the government knows about bitcoin transaction in our country, maybe something worst will happen. We all know that government has the power to do what they want and to do what they think is right. Maybe they will implement taxes to all who used bitcoin. The other case is if they don't want the Bitcoin be legalized in their territory, then it will be banned for sure. There are lots of government can do to control once they know about it.
They can't implement taxes on Bitcoin. At least not in a way that gives them the power to just take your money. That's something that was possible with bank accounts, but that's about to change.
legendary
Activity: 1386
Merit: 1058
i think the government knows about the bitcoin and the transaction made through the internet. if government knows there will be no problem in it because it is internet based currency and if the government allow this currency as regular payment of the money then they will impose certain taxes upon this currency which affect the movements of bitcoin price.
Most governments already know and while some are just trying to pay a deaf attention to it, some are really taking it serious and in the long run, we will end up seeing which of the country ends up coming out better.

I do not expect any citizen who is a bitcoin or crypto enthusiast to get limited by the controls of the government, they can ban bitcoin in the country, but they can never ban the whole community globally. Still doing well in my country though and I hope it continues like that.
member
Activity: 1120
Merit: 68
If the government knows about bitcoin transaction in our country, maybe something worst will happen. We all know that government has the power to do what they want and to do what they think is right. Maybe they will implement taxes to all who used bitcoin. The other case is if they don't want the Bitcoin be legalized in their territory, then it will be banned for sure. There are lots of government can do to control once they know about it.
sr. member
Activity: 612
Merit: 250
For me, here in my country..i think the government are they know already about bitcoin. But they don't want to establish on tv.,they don't want publishing about it,.because they don't want to believe about bitcoin. They ignored about of what can gives you help from bitcoin. But for me I think it is better to..not all people are joining here in bitcoin. Coz' we need to be careful of the scammer and the hacker
I think my country know about bitcoin because it’s not possible for bitcoin to get enter and start its activities here my government know very well about bitcoin and that’s why it’s going to legal in my country soon because bitcoin have almost four years in my country and it deliver a very good services to our people and they are really enjoying it it’s now available any part of my country and it also work everywhere so bitcoin is best in our country.
hero member
Activity: 1036
Merit: 500
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, in my country the government recently forbade bitcoin, because they are afraid that bitcoin will cause problems for the owner. Whereas bitcoin is able to change a person's finances, we are here also confused why the government bans bitcoin for no apparent reason.
There is really no need to be confused as some governments are either just blind to the fact that everything is changing, or they are just some controlling freaks or they just purposely want to do so. One thing I am sure of though is that bitcoin will still always thrive and whether your government decides to ban or not, that does not stop you from finding ways you can save up for your future.
full member
Activity: 952
Merit: 104
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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 country the government is not that strict when it comes to bitcoin and cryptocurrency. But instead of banning, they adopt bitcoin and control transactions using the wallet that is controlled by the central bank. The government already support the use of bitcoin, however they always warn the public about the risk in using cyptocurrency.
sr. member
Activity: 1652
Merit: 262
it seems the government will be worried. they judge, bitcoin is not a valid currency to make transactions. the government still prioritizes the legal currency in the eyes of the country and the law. not impossible, bitcoin will also be closed by the government, as is happening in my country.
sr. member
Activity: 672
Merit: 253
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I think if at this time that the government already knows about the existence of bitcoin, of course the government will make a more detailed regulation about bitcoin. it may be possible to establish a centralization governing the issue of a transaction made by bitcoin users. so I do not think there will be a ban by the government as long as bitcoin will be able to overcome a problem especially related to economic problems which is currently becoming a complicated issue. I think at least bitcoin can overcome the economic problems for all circles, it's just that the government will give more of a regulation aimed at not having a misuse that can be done to exploit the freedom of bitcoin.
full member
Activity: 714
Merit: 114
our government has already known bitcoin lately and now they are slowly implementing it to be used soon as a secondary payment option next to our local currency. i believe that this is the start for bitcoin to be more popular on our country because majority of the people here are still not aware of bitcoin but it will also have a disadvantage to us because government will surely put a tax on it because they can now manage and regulate bitcoin. volatility will also be lessen because bitcoin will now be centralized.
full member
Activity: 448
Merit: 232
The government of my country is still very vague about crypto-currencies and Bitcoin in particular. Sometimes MPs seek to legalize it, sometimes, on the contrary, they leave the topic and ignore this question. The same applies to mining. We still do not know whether this is legal or illegal. Therefore, those who are engaged in mining try to be extremely cautious, since we had situations of police raids on "farms". I hope the situation will become more specific soon. Ideally, Bitcoin in my country will be legalized.
full member
Activity: 448
Merit: 100
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Nothing happens since our government already know about bitcoin. Even the central bank of our country has made its statement the utilization of bitcoin as online payment for products and others.
I just hope that all will go well in the future and the government will open-mindedly support bitcoin because bitcoin is undoubtedly helping the unemployment problem in our country.
hero member
Activity: 1120
Merit: 507
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.
I don’t think my country’s government will do anything like banning Bitcoin or something like that to prevent it. We’ve been making use of Bitcoin for a long time now in my country (well, I don’t know if I should really say using, cos mostly all we do is investment, you can’t use it to buy anything) I believe Bitcoin is making positive impacts to my country’s economy, if not, the government wouldn’t have kept silent on it till now.
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