What will happen if the government know bitcoin in your country? - page 29.

PhucS

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Quote from: shainasaz on November 05, 2017, 08:56:41 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.

Yes, some countries seem to be afraid that Bitcoin will have a negative impact on their country. My country too, the State Bank did not recognize Bitcoin and they issued a ban on using Bitcoin as a means of payment. The Bitcoin community of my country will certainly not agree with this decision because it has limited the popularity and development of Bitcoin in my country. However, I think those countries that have banned Bitcoin have their own reasons. Recently, Bitcoin's anonymous privacy features are often used by criminals for illegal purposes such as money laundering, financial fraud. That would cause a lot of financial and economic turmoil. I think so Cheesy

leonair

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Quote from: shainasaz on November 05, 2017, 08:56:41 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.

They can't ban Bitcoin though maybe the most possible way that the Government can do is to regulate exchanges to what they want to happen because the citizens that participating with Bitcoin and any other kind of cryptocurrencies are using exchanges to withdraw or deposits their Fiat money inside of the cryptocurrencies. People will still find a way to access Bitcoin if the Government will still insist in using Bitcoin so don't worry too much.

Harry Callahan

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Quote from: shainasaz on November 05, 2017, 08:56:41 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.

Any government who thinks about banning bitcoin or any crypto currency fear about money laundering and terrorist funding and that is what they will be focusing to tell if they want to ban them. I am not sure how these cryptocurrency is aiding you financially unless you are holding a good number of coins.

naidray

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Quote from: noictib on November 05, 2017, 11:20:28 PM

I don't think that they can take any strong/strict action against the bitcoin because bitcoin is decentralised cryptocurrency currencies , and the person who can access internet can access bitcoin also , so here we can say any government can make rule to not to use the bitcoin but can't make any rule to stop the transaction of the bitcoin Because no one has the control in the bitcoin transaction between p2p.
Here we can see that many big economical countries allowed bitcoin to use with better rules of taxation , so here we can understand well that no other countries will ban it , Because bitcoin is not only a way of income for the common people but also a thing for the better growth of the economy of the country .

Well, that is where the limitation now comes in. Even when someone has to do a P2P transaction which obviously government cannot control, but at the end, there would be a need to still convert to fiat at a point unless the person holding decides to move out of the country to go use an outer exchange cause that kind of action would make it difficult for any merchant to want to use, and practical usage to be impossible. At the end, just like you have said, except for some huge reasons, which I feel can be controlled, hardly are we going to see any country banning bitcoin.

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Quote from: ASHLIUSZ on November 07, 2017, 01:50:27 AM

That's not really possible to keep track of the users as well to make the people stop the usage of bitcoin. These days governments too have the plans of making use of bitcoin, than abolishing it. Because people tend to use it one or the other way, so that it's not possible to abolish it. Expect more countries to get into bitcoin usage and make it grow higher same as that happened when Japan entered the community.

Exactly. Since they cannot stop people to use bitcoin, government intends to legalize it to use cryptocurrency for the benefit of their own country to it's maximum extent. For this reason, some countries like Russia or Uruguay launched a cryptocurrency of their own to aid in their economic status. Countries other than Japan are on the process of adopting btc with the hopes of regulating it in a way and using it to their advantage.

denny27

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In the country where I live the government already knows about bitcoin, but the government hasn't really understood or knowing more about bitcoin and blochckhain's technology with deeply, I think the government is still in the process of learning deeper to knowing it. Until now, the government hasn't been able to legalize bitcoin as a method of payment (approved's currency) because it's still worried about the risks can be affected on the country, especially the country's economy system (banking).

ASHLIUSZ

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That's not really possible to keep track of the users as well to make the people stop the usage of bitcoin. These days governments too have the plans of making use of bitcoin, than abolishing it. Because people tend to use it one or the other way, so that it's not possible to abolish it. Expect more countries to get into bitcoin usage and make it grow higher same as that happened when Japan entered the community.

beerlover

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Quote from: squatz1 on November 05, 2017, 11:31:06 PM

Well they do know that Bitcoin is within the country, though I've developed a theme that I think the government doesn't think that Bitcoin isn't enough of an issue yet to go forth and ban / do things that will limit the growth of Bitcoin through massive waves of regulation. But as I said, they're not going to do it unless Bitcoin is a real threat - as they don't want to make people angry when they really don't have to do it yet.

It will happen though, NY has already done it and so has the state of Washington. Sadly enough, Government isn't going to give up control and they will stop at nothing to keep control.

It seems some countries are still trying to view the population of the users before they can really see if it is enough for them to take any serious step or not. It is kind of reasonable and I would not blame them, however, it is even better to start regulating at this level by using some developed countries as a case study and implementing the same before it gets so huge.

With your final statement, that is pretty obvious and we all know the highest that can happen is for government to accept it sideways but giving up control be giving up fiat is something we can never see and the highest that would ever happen is for them to adopt the blockchain technology and create a centralized cryptocurrency of their own.

13abyknight

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I guess by now every county's government would've known about Bitcoin by now because of its raise to fame in the past couple of years.
In India, the government initially took an aggressive stance against Bitcoin, condemning the idea of digital cryptocurrencies to be an outright scam and even made arrests of people trying to trade the currency. Later, the government realised the positives of cryptos which overshadow the negatives and hence currently have a neutral stand.

hisuka

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Quote from: oegarod on November 06, 2017, 10:55:16 AM

Most of the governments have a positive thinking about bitcoin. In the past several countries have made ban upon bitcoin. Later when they found it potential took back the ban and and has started to support bitcoin. Some governments haven't accepted bitcoin, but show signs of adopting the blockchain technology.

Yes other government already know bitcoin, actually they have an idea about it. Yet, some are banning it but some countries adopting the technology and the bitcoin. Bitcoin has many advantages to the users and it has a lot of opportunity so I dont think banning bitcoin will take place.

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Quote from: shainasaz on November 05, 2017, 08:56:41 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.

Banning bitcoin or crypto is the biggest regret at all. Doing this doesn't give help to their people, instead it makes them from losing this great opportunity to improve their life. Realizing that, in this way many people will be given a chance to improve their social life and regains their trust towards crypto.
Although some countries are declined this just because of some personal interest that it will be conflict to bitcoin purposes. It is a greedy decision they made, not knowing that it could be a big help to the community.

oegarod

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Most of the governments have a positive thinking about bitcoin. In the past several countries have made ban upon bitcoin. Later when they found it potential took back the ban and and has started to support bitcoin. Some governments haven't accepted bitcoin, but show signs of adopting the blockchain technology.

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Quote from: shainasaz on November 05, 2017, 08:56:41 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.

This would be on case to case basis on a certain country which they don't have similar views regarding on bitcoin. Some would see it as a beneficial thing but most of them would really see as a threat not only on the financial and taxation aspect but also on the possibilities on increasing on crimes since they are already aware on the negative effects which can bitcoin would possibly give on a certain state.

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Quote from: junoreactor on November 06, 2017, 09:12:38 AM

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

Quote from: shainasaz on November 05, 2017, 08:56:41 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.

Few from SEA countries are accepting bitcoin, while some are maybe planning to do so, or maybe they are just keeping ng their moves silently. In that case maybe for you it should be better to go to some countries which has low cost of living, its because i guess imposing tax would be better compared to banning it completely.

junoreactor

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

Quote from: shainasaz on November 05, 2017, 08:56:41 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.

Lady Coquet

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Quote from: shainasaz on November 05, 2017, 08:56:41 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 in my country knows about bitcoin, i think they would want to pay us taxes because many people in our country are earning money for free and the government doesn't earn any money from people who uses bitcoin, so they also want to earn money from it through taxes.

Getcoinsite

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Well in my country crypto is recognized by government specially bitcoin.there some issues of scam that happens this past weeks but only isolated cases of mis understanding about the dependent and now its cleared.so for that i think its respectful to those countries that has letting crypto in their countries and welcomed the computer age fairly

roseybanez

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It's ok , they accept bitcoin as a thing to buy or sell , it's ok to them but if you use Bitcoin as a currency for payment, so welcome to the "juventus" team.

Creepings

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Quote from: shainasaz on November 05, 2017, 08:56:41 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 think bitcoin is not affecting the economy of one country negatively at all. Bitcoin adds fiats to the circulation of the country making the profits of certain people good without that stable job. And I think that the government in our country know it and they are letting us use it because it is not bringing any harm to the people and it's country. I just hope people know bitcoin and accept it more in our country.

connesa

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Quote from: shainasaz on November 05, 2017, 08:56:41 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?

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