Can I be taxed on bitcoin?

The IRS classifies cryptocurrency as property, and cryptocurrency transactions are taxable by law just like transactions related to any other property. You can buy and hold cryptocurrency without any taxes, even if the value increases. There needs to be a taxable event first, such as selling the cryptocurrency.

Is bitcoin mining hard?

Cryptocurrency mining is painstaking, costly, and only sporadically rewarding. Nonetheless, mining has a magnetic appeal for many investors interested in cryptocurrency because of the fact that miners are rewarded for their work with crypto tokens.

How many countries have banned bitcoin?

Whether bans were imposed due to Bitcoins decentralized nature, the threat to their current financial system or just because proper regulations are yet to be approved, there are at least nine countries as of March 2019 which decided to do so. These are:

What if the G20 banned bitcoin?

If anyone outside the G20 bans bitcoins and the G20 accepts Bitcoin as legit and slowly the world accepts it, then the country that banned it would look pretty darn silly. Likewise if a country accepted, made Bitcoin legal and then the G20 bans it, making the use and trade of bitcoin illegal, then the country that makes it legal would look silly.

Should cryptocurrencies be banned in some countries?

Due to the nature of decentralized cryptocurrencies, it is simply impossible to ban them. Many individuals in those countries still make use of sites like Local Bitcoins, Paxful or Bisq to trade it with others, as indicated by the trading volumes on these platforms.

What can the government do to block bitcoin?

The government can pass a law that essentially bans the use, buy/sell/trading of bitcoins (as was the short cited knee-jerk reaction by the Government of Bangladesh). What the government cannot do is control this ban. There is no server to block.