What will happen if the government know bitcoin in your country? - page 26.

tumokatok

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Quote from: shainasaz on November 05, 2017, 07:56:41 PM

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.

from where do you know the government will be afraid of bitcoin and ultimately prohibit the circulation of bitcoin in the country if only reason will affect the economy of a country.But your own bitcoin can help you financially.

carlisle1

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In our country there are some banks that accept bitcoins,so means government know about cryptocurrency here.and i dont see any problem about it.and if the government requires taxation on every users i might say thats thier obligation and being people of this country its mybobligation to pay taxes as well.and every action that government will provide,i will accept coz i know that its for me and the countries benefits

streazight

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Quote from: qwertyup23 on November 05, 2017, 10:20:05 PM

Quote from: shainasaz on November 05, 2017, 07:56:41 PM

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.

It totally boils down to the discretion of the country regarding its legality or illegality. There are some countries in Asia that ban the usage of bitcoin since its decentralized nature makes it the perfect medium under the dark web for transacting illegal drugs. If the government of that country thinks that bitcoin contributes to the increase on their drug-related crime rates, prohibiting it may seem the obvious choice. But there are also countries that recognize bitcoin's potential to the market in terms of providing opportunities to people regardless of their status, and makes the economy liquid enough.

Where most of these governments are getting it all wrong is that they can still find a way to regulate the usage under normal circumstance in real life usage, rather than trying to shy away from it and the end still end up trying to accept it so they don’t get left out.

However, what works for country A may not work for country B and I really feel their pains though knowing how most of them really did a lot before they could curb the usage of drugs and now that bitcoin could help some of these bad guys find a means, then I won’t be surprised them never allowing it either.

killerfrost

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It is not surprising that the government knows we are using Bitcoin because in my country, Bitcoin is not granted but is not approved. Bitcoin ATMs grow throughout the city, but they are not used much because few people use Bitcoin. Besides, only one bank accepts transactions with Bitcoin and it is also the largest bank in my country. Bitcoin is too alien to the people, if more and more people know it, perhaps the government will soon accept it

BlackBi88

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Quote from: shainasaz on November 05, 2017, 07:56:41 PM

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 discovers bitcoin exchange, they will forbid it in my country. My government will ban the bitcoin trade next year. I do not like this at all Angry

God Fist

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They will probably ban websites that deal with it because they don't want people to get rich because of the dictature we are living in .

ivanst776

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Quote from: junoreactor on November 06, 2017, 08:12:38 AM

Quote from: connesa on November 06, 2017, 05:35:19 AM

Quote from: shainasaz on November 05, 2017, 07:56:41 PM

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 philippines i think if they are already aware of what bitcoin really is,they will probably put tax,which i think is not a good one.the small earners like me will be the one really affected.every transaction will have tax plus the miners fee and add the widrawal fee.just think how much will they earn.while small earners like us almost nothing to left.well i think much better than getting banned right?

Depends on the tax amounts obviously, but long term is good news IMO . Like you said, better apply taxes on transactions than banning cryptos.
Honestly, as far as I am concerned, if in the future my country is thinking about banning Bitcoin, I would have no problem moving overseas, probably to Malta or such a country close to my home and Bitcoin friendly. In Asia, there is Singapore but cost of living is way too high there to be a good option.

If taxation system is implemented on the bitcoin and is accepted by the government then there will be a lot of development and progress in the country as well as there will be a lot of the boost in the economy and taxation is the most important thing in the country and that country is more progressing now in which taxation amount is used for the development processes, so my government will welcome and allow it.

Natalia R

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

buxlover

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Yeah I do think so that bitcoin is helping many people for getting the good salary or passive income which can make them rich too if its bitcoin. :-)

Those who had problems getting the job now can work online form he door step of their home and comfort to earn huge money. This is the power of bitcoin and government must know and act about it. They should really consider our concerns about using the bitcoin and lets make it more legalised.

golek upo

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in my country , our government already know about bitcoin, but they do not take steps to ban or legalize the use of bitcoin.

radjie

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Quote from: shainasaz on November 05, 2017, 07:56:41 PM

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.

What's happening in my country is that the government has not legalized Bitcoin or also banned the use of Bitcoin. The government only appealed to the public that the use of Bitcoin is beyond the responsibility of the government and considers Bitcoin not a legitimate means of payment, as it is still a matter of debate.

albert11

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Quote from: shainasaz on November 05, 2017, 07:56:41 PM

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 known here in our country. And the fact that bitcoin can be bought at conveniece store, remittance center, and banks might give us an idea that it is legal or known by the government. Plus I think the government here in my country receives atleast part of the earnings of those companies in every transactions made through bitcoin.

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Quote from: shainasaz on November 05, 2017, 07:56:41 PM

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 the situation of my country government already accepted bitcoin but only allowing one exchange but still its regulated by them which means transactions on btc conversion to local fiat would still be limited. I cant say that there would come to a point on where they would decide to ban bitcoin but possible if they saw that people who are earning much on here with bitcoin doesn't pay tax then they might do such thing.

deathwish

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My country knows about bitcoin for sure. But government has no communication about it in the mainstream(neither for or against it). They will not interfere as long as it doesn't threaten their system (financial & Political). If it will infringe upon it, three things will happen. Reap the benefits out of it (which will be privately) Or Ban it altogether (will be public) OR policing the cryptocurrency domain.
Many think that the third is not an option but I do not agree. As per me, regulations and policing will be enforced as this grows big and that is the future.

dewi91

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the government in my country know bitcoin but they not admitted and not banned bitcoin.. bitcoin can't use in my country as a payment but the bitcoin users allowed to earn bitcoin.. maybe the government just not ready yet to legalizing bitcoin..

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Quote from: shainasaz on November 05, 2017, 07:56:41 PM

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 guess my government is already know bitcoin although they don't give any statement about accepting bitcoin or not but i think for now, my government will let people to use bitcoin for their own purpose. beside that, i think my government know that bitcoin can help their people to make money and with bitcoin, my people can have an additional income and if they still doing something with bitcoin, then my people can solve their financial to better than before.

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Quote from: shainasaz on November 05, 2017, 07:56:41 PM

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 opinion, if they find out the existence of bitcoin, then they will try to tax it, they will create regulation for bitcoin so they can benefit from it, but if they can't find the solusion, i believe they will just ban bitcoin trading. In my country the goverment has a lot of more important issues to solve so i don't think they will care that much about bitcoin.

ivrynx

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With the popularity of Bitcoin now, I think people will agree Bitcoin to be as digital currency, even without fully understanding what Bitcoin is, since that is what the mainstream media is portraying. I think this countries that do not have any any access to the internet, will be the ones having a hard time in accepting Bitcoin, since it will be all new to them and the technicalities are still difficult to explain even if you are investing for so long now. It will also depend on the ideology the country follows, if they will accept Bitcoin to be the future or will still rely on Fiat currency.

olushakes

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There is hardly no country in the world that its government does not know about bitcoin but what is going on is what they will do about it. Some government are of the opinion that bitcoin population in their country is not enough to command the amount of attention to disrupt the economic indices of the country and thereby they just ignore while some are already seeing the effect of bitcoin in bad light and that is why they are taking actions towards it. (China comes to mind) in my country until then, there is nothing to be done.

appleffi

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Our government here in the Philippines already know about bitcoin but they have not done any actions such as to ban this thing in our country. They just proposed to regulate these cryptocurrency not only bitcoin on how it flows in our country. It is not yet widely accepted as a medium of exchange in our country but a lot of fuss are on going right now regarding bitcoin.

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