Bitcoin Forum

The transparent nature of the cryptocurrency industry is one of the Paramount reasons why politicians are kicking hard from all angles against it.Well,I am glad that despite all these agialtations,the industry moves on .One day full potentials will be established. Share your views.

Politicians are nowt afraid of cryptocurrency, actually this will made them more safe in having corruption.
it is just now that banks and elites are paying politicians to make steps on stopping the movement of cryptocurrencies especially bitcoin.
as this is a thread for them and a start for all the people to control the currency.

Obviously, politicians are fear to this decentralised cryptocurrency. But they are all invest in centralised Cryptocurrency government is supporting to politicians because they only control the government so centralised platforms are favour by politicians and Bitcoin is rule the crypto market so they are all fear in this platform.

I don’t see how it will stop corruption. Corruption is rooted from greediness and I believe that politicians will continue to become greedy despite of the presence of cryptocurrency. How will that stop them from abusing their power and authority? They don’t fear crypto because they actually have the power to declare a ban. You probably heard some negativity from them because of how much money it generates and they’re probably just jealous of the people exploiting it when they’re the ones who should be able to exploit it for money.

I would like it to somehow help stop the corruption. But judge for yourself, most likely this is not possible. I will explain my opinion: Blockchain is a continuous sequential chain of blocks , which contain information, built according to certain rules. Accordingly, for example, if we order to bring all financial income of people to the register, give each wallet that will be registered in this register, we will see official figures. But the problem will be in another, any person will not have the trouble to create another purse and accept black money there. But there are other options for solving the problem of corruption. Honest presidential election, perhaps soon will apply the technology of blockchain to conduct transparent elections. State purchases, too, in theory can take place on the technology of blockchain. Accordingly, anyone can check this or that information. But my opinion will remain the same, the blockchain will affect corruption, but it is unlikely to eliminate it.

Yes they are because of the decentralized nature of cryptocurrency where the people who are using it have the power, however remember that in every system there will be a loophole. For instance it can be the security factor of cryptocurrency that they can take advantage of as they can send a large sum of money with out any traces from where it has come form and it can be used in almost anything to buying drug to weapons as what some people do in the black market.

I dont think cryptocurrency will stop corruption.Yes they fear of cryptocurrency but I doubt if it is because of corruption instead they fear that economy of a country will get affected and of course they fear that their businesses will get down.

Not only because of corruption, but also due to not having power over  bitcoin or other crypto currencies. That is why they are trying to regulate crypto currencies, so they can indirect have control over the currency.
But at least it will somewhat reduce corruption specially on under developed and developing countries. Say they are working on a project and has a fixed budget. We can get to see where the money how the money is flowing (money going in and out) publicly. So any misuse the budget can easily be traced.

Politicians are not afraid of crypto. It's just something they can not accept for now. Different areas of use are confusing. Mostly they can not accept terrorism because it is financed and used in jobs like money laundering.

Corruption will always exist, with or without cryptocurrencies. Your point is invalid, especially since you didn't argument about the "transparency" of the cryptos. Also, if your point is the transparency, then what about the privacy-centric cryptos? Because <with them there is no transparency and full anonymity.

I think it's no, because when it comes to be corrupted principles many different ways specially this type of method wbich is crypto currency easy to use and easy processed specially for transferring of fund. We can not sure that politicians not doing something corrup because of fastest way of payment transfer.

yes, I also think like you, they fear if the government uses blockchain to record all the activities of the country. they will not be able to corrupt again, this fact is very unfortunate

Well i don't think that's their reason to fear cryptocurrency. Even in fact, doesn't cryptocurrency will make it easier for them to corrupt? We know that cryptocurrency is anonymous and hard to track, so it will be easy for them to vanish the track if they corrupt with cryptocurrency.
And even, i think cryptocurrency can give them many advantages though.
But still i'm not really sure what make them fear crypto, other than those cliche reasons like it's threathening and bad for the country's stability.

I wonder how this way of crypto currency can end corruption? I think it can be the other way around, for pumping money.

politicians are just one of the many problems of rejection of crypto technology because the main enemy of crypto is banking and banker bankers who support bank banks worldwide

Transparency of most public blockchains is more of an unwanted feature rather than advantage, and major coins like Bitcoin and ETH are working on improving their privacy. And there are already coins with strong privacy like Monero, and it can be used for all sorts of activities, including corruption.

The real reason why politicians are scared is because they don't want average joe to have tools for having shadow income, in the current political system this privilege is reserved for the ruling class and their cronies.

Stating that politicians fear crypto is just unfounded speculation.  None of them have actually said that, nor is there any evidence that it's true.  In addition, cash is still way more anonymous than bitcoin and is infamous as being the vehicle by which corrupt politicians and other sleazeballs take their bribes and kickbacks and whatever.

I don't think most politicians even really understand much about crypto, much less have any sort of fear that it's going to put an end to corruption.  That's just not the way they think, IMO.

I don't know, may be I have different opinion than yours. Im pretty sure politicians are the one who must be very happy right now that crypto currencies does exits.  :D Well that is giving them the way to hide lot of wealth that they are carrying with them under subway, under table etc etc.  :o
Well, crypto currencies are transparent but they dont give us full information about who and from where the address was generated and whose holding it. Think about it twice.

I don't think so because crypto currency will definitely going to reduce corruption but politicians will find a good way in cheating the people and earn corrupted money in crypto also because the corrupted head of the government is also corrupted. If the politicians come forward and stop corrupting people by themselves honestly, then there is a chance they or the country can stop corruption.

Politicians are hoping to help the people, to develop our country but eventually some of them they continue to overthrow the country. Because of the sharpening of its resources. They do not have enough of their receipts so they prefer to pick up they want or wealth of the country.
So I think ,they are afraid of the arrival of cryptocurrency because it do not have any taxes they corrupted and they can not get huge amounts of money in the govenment.

Do you have any source about this? or you are basing this because of this Congressman proposes banning bitcoin at House hearing (https://mashable.com/2018/07/18/congressional-cryptocurrency-hearing-ban-bitcoin/)?

If you are referring to this, I've heard that this guy was paid to do this on congress.

Don't also generalized them, I think not all of them have time to study about crypto's but it depends on the current situation of their country about crypto adoption.

Wrong.  Bank system is easier to track the money.  That's why corrupt politician and drug dealers didn't use bank transfer.  So cryptocurrency won't stop corrupt politician.

 WE have different opinion on the above Topic, Crypto currency is Decentralized Digital Transaction on the Market. Politician maybe corrupt as generel perception but can also possible investors, we don't have a Demographic  on who's who are into crypto currency investment. The government in the government are both Politician and Bureaucrat, They want to Regulate the Crypto transaction in the market in our country we belong, i really don't know on how we can assume  that Corrupt Politician will be benefited by this Crypto transaction.????

perhaps that's why some governments decide to fight crypto. from the beginning I already know that crypto will continue to be resisted by the government. because every transaction and also the incoming trx are recorded all in the blockchain ledger, so it's very easy to track incoming transactions. but its anonymous nature is also a little difficult to find out who owns the wallet.

That is right, corrupt politicians will not stop and do not fear crypto currencies. We all know that crypto currencies are the currencies being used to transact payments in the dark web.

There are a lot of crypto currencies out there that has a full anonymity unlike Bitcoin. People might think these politicains are scared of Crypto currencies but think again, it is decentralized and anonymous~great way to hide your transactions.

I strongly agree if the crypto currency can stop corruption. I hope the corruption can not use crypto currency to do kejahartan. I hope every transaction can be traced so that corruption can be captured.

Most of our politicians are corrupt and that is why we are having war,  poverty and under development in our society.  If you are from Africa or Third World countries you will understand what I am talking about.  Bitcoin was discovered to give power to the individual in making financial decisions for themselves and be able to trust one another in transactions.  Bitcoin can stop corruptions and I believe our political offices holders will not like it.

The "transparent nature"?!?Don`t make me laugh.The crypto industry is everything else,but not transparent.
It has the potential to become transparent,but this requires lots of efforts and investment in the blockchain technology.Politicians really don`t care about crypto.They get their bribes in cash,goods and serivces or real estate.How can the crypto world reduce corruption?There`s no way for that.Your thread is a total mess.

But at least it will somewhat reduce corruption specially on under developed and developing countries. Say they are working on a project and has a fixed budget. We can get to see where the money how the money is flowing (money going in and out) publicly. So any misuse the budget can easily be traced.
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Yes, I explained some of my thoughts. It is not yet possible to completely prevent the corruption of the blockchain. Perhaps in the future we are technologies that will help to solve the problems with corruption, now while we can hope for a partial decrease in the percentage of corruption.

Not exactly. It's kinda naive to think someone who wants to be corrupt will not find a way. Corrupt politicians or official can still take money through crypto itself. Whats stopping them from using a proxy server to mask IP address and a fake ID to get KYC and AML registration done and make all in transactions through monero or other privacy coins?

Politicians are the most corrupt humans on the planet
they would still get paid in some privacy crypto to sell our planet to corporations

I think the opposite of your opinion. I think politicians and business owners like Cryptocurrency. Because it is a place to help businesses and politicians launder money that nobody knows. We are completely anonymous and the number of assets we hold will not be known.

The observers are divided, some consider this to be good: as a population advance, others assume the trend will not last long.

People can see all of these things because of the inherent transparency of viscous bitcoin. Studies and research on bitcoin and blockchain that turn back is also quite scientific.

Politicians! We are talking about the politicians dude, and they themselves know very well that crypto currencies can be very much handful for them to do corruptions. I think they already know this and they might be the one to whom we call as whales.  ;)
They may manipulate the market by putting up bad news through their government, and thus can make entries into the market.  I guess you missing the fact that its politician and they are the big player of corruption and they wont fear it.

This is a bit of a tough thing to say, I would say that any politician can find a way to be corrupt while using any sort of currency. If Bitcoin was the currency of this country, then you'd just find politicians using different addresses and having coins mixed at a crazy rate. They would find a way to get away with it, it's crazy to think that Bitcoin would rid the world of their greed problems. The only reason that Bitcoin will never be allowed to thrive is the fact that banks, politicans, governments, and so on and so forth don't want to give up their power to a decentralized coin, and that is the ONLY REASON.

very clearly, politicians are very afraid of the work of transparent cryptocurrency.
every transaction leaves a trail, and it will be very difficult to corrupt.
I think that's the reason why cryptocurrency is being rejected, many greedy people do not want to be hurt.

There is nothing to worry about for the advancement of cryptocurrency, while there is still fiat it will run very smoothly, there is nothing to worry about if it can still be hidden in their dirty hands, their very well liked cash is very easy to hide and in play, all the statements that you make no truth in the fact for now, unfortunately they are getting bolder, there are bad people behind bad guys.

Yes I think that is true. Politicians are sometimes unhonest. They are not doing the right thing, instead they always do the bad things with the help of other politicians so both of them will be richer. I am not telling that all of the politicians are like that. Some of them. They just wanted the money so bad even though they are too rich. They still want more. They fear cryptocurrency because it makes people rich easily. So fast. By just investing or just using it. People might be rich.

Politicians could have their own sinister motive for not going fully into bitcoin for several reasons but I doubt if transparency is one of those reasons. I have watched movies where top government personnel, rich people, head of parastatals, could not think of anywhere to keep their wealth either ill gotten or not from the reach of government in crypto. So, for them to then fully go against crypto would be contradictory to the benefit they get from such action.

On the  other hand, if the narration is that the reason why they go against crypto is because if government should support crypto, some level of transparency would have to be introduced and the veil of anonymity taken which then put their own interest at risk, so the need for antagonism, I am fully in support of that.

It was normal for politicians to be afraid of cryptocurrency because they are corrupted and they steal money from people and this people in the community will just create another way to have income and that will be cryptocurrency.

The politicians are used to centralized form of governance and if they come to power, all they want is a total control so they can do what they want to do in their governments. Being decentralized, bitcoin and cryptocurrencies can't easily manipulated by any person in power. They are already attempt to manipulate the coins like imposing strict regulations and or either ban it completely in their area of governance.

And this doesn't mean that they are afraid of crypto's because they can do whatever they want to.

I think that the greatest fear for the government is the fear of losing control over transfers. Now most countries are trying to minimize the turnover of cash, and crypto-currencies are worse for them than cash.

I believe politicians might be the one who use the crypto currency on major level. Though it is transparent then also its not fully transparent as you are saying it here, it is more or less pseudo-anonymous. Meaning you still have partial protection from the crypto currencies. You can never know the names of people in this industry. All you can know is XYZ address sent money to ABC address or CDF address is having 1000K bitcoin stored. etc etc. But this always keeps up the anonymity of the users and thus politicians may not get hampered with this.

Huh. To educate you my friend. Criminals are actually using crypto currencies to launder their money and transfer funds for terrorist networks. They could always make a wallet fron an anonymous source and fake the papers needed for authentication. Maybe in the future authentication of identities will be better but certainly not today.

I think not only politicians are afraid of bitcoin, because the blockchain is a real control over everyone, and not just contol to ordinary people like now. I think bitcoin will allow it and fight abuse with charity funds.
Because now charitable funds spend more money for their maintenance than for real help to the victims.

It doesn't necessarily stop corruption. It is used. As a perfect vehicle for their ill gotten wealth. They could actually use their local wallets as a vehicle to make their dirty money clean by simply sending out fake information about themselves and get away with it. I just hope we could strengthen the identity verification of local wallets more.

There are many reasons why politicians are afraid of crypto. Corruption of course is one of them. In addition, there is a factor of loss of control over money issues. In general, all the basic principles of crypto have always enjoyed low popularity among politicians.

sooner or later politicians will implement blockchain and legalize cryptocurrency the main reason behind that is crypto currency are the future of money it yields more transparency

it is reasonable thing to say but in my country, politics are rather choose to declare they are income in cryptocurrency because it is not get taxed, lol.

Its a good observation but I think not all politicians are afraid of this technology, maybe the corrupt ones are most affected by cryptocurrencies as they are very transaparent and is a characteristic which most of these corrupt leaders lack!
But unfortunately this technology is growing day by day making it unstoppable.

The cryptocurrency is a double-edged sword. The cryptocurrency can survive on a system other than the bank, providing a convenient condition for corruption, but it can also query the transaction information of the cryptocurrency through the blockchain!
Corruption is inevitable, and cryptocurrency can only reduce the occurrence of corruption, and can not fundamentally eliminate corruption!

I think it's not related, because I think it's the same corruption as fraud, although it may be true that crypto has transparent nature but I think there will be gaps for anyone doing negative things, maybe the politician is afraid not because of his crypto but because of the changes that will occurs as a result of the use of crypto, which I know whose name changes will be opposed by a handful of people who are already comfortable with monotonous lifestyles, so essentially whether or not crypto will have no effect on the level of corruption, because the corruptor will continue to think of looking for loopholes for smooth his intentions

this is one of the advantages of bitcoin there will never be a corruption because anything withdrawals or transactions will have evidence and records of its own, want to use any exchange or purse records or your history will be recorded automatically so there will be no corruption.

you are right, the polycystic is afraid of bitcoin for that reason.
they can no longer do corruption, money laundering. because every transaction is done will cause a trace and it can not be deleted.

i share your view, cryptocurrency is the answer to ending the fight against corruption, with cryptocurrency, politicians will find it difficult to sidefone public funds and divert such into private account because of the decentralized nature of cryptocurrency. funds meant for execution of public projects will be well utilized for the said purpose. i think cryptocurrency is the answer to end corruption.

i share your view, cryptocurrency is the answer to ending the fight against corruption, with cryptocurrency, politicians will find it difficult to sidefone public funds and divert such into private account because of the decentralized nature of cryptocurrency. funds meant for execution of public projects will be well utilized for the said purpose. i think cryptocurrency is the answer to end corruption.

Well as others pointed out already the blockchain or at least bitcoin is not fully transparent. It can also be totally anonymous if you wish. So yes we can say that if the public money would touch the blockchain from that point you can track everything. While the rality is that you can check hashed data only. So you can tell that a government sent out exactly how much money for someone. But you wont be able to tell who is that person right? So lets say there is a 10 BTC investment in a sport facility renovation. You can see the 10 BTC to arrive but you dont know where.

On the other hand crypto could be the perfect solution for corrupt officials. I wonder what will happen if they discover monero for example. No need for a sechelle-island bank account anymore...

Two sided sword...

I see, the technology will continue to grow, not just Bitcoin, ETH, NEO ... And other wonderful things.

Non-existent technologies will be eliminated, instead of more socially beneficial technologies

Yes, politicians and people in the government are not into crypto because of the transparancy in nature. Most of the politicians make transactions with taste of corruption one way or another. Bigger or smaller. They admitted or not, it is the culture of politics.

very clearly, politicians can not accept a system that works transparently.
because it would bother them to do money laundering.
because the blockchain system can not be manipulated.

The government thinks least of all that the crypto currency can somehow influence the situation with corruption. In any case, the financing of the economy will always be in ordinary currency and therefore corruption will always be. The most important thing for any government is that they can not control the decentralized crypto currency.

No , it will make worse for corruption because they can cover their transaction from the police ( the police need to resolve harder )
Cryptocurrency also able to make inflation if some country weak against dollar ( That's my case )

I think these are the reason why my government still forbid cryptocurrency !

Politicians did'nt fear on crypto to stop corruption. The main reasons I think was it is hard to impose taxes on it. How the government will interact for those transactions of each users and investors.

Also in some case, politicians convert their fiat into crypto to hide their wealth so the government canot trace it. It is somehow used by those corrupt as a hiding place.

The distinguishing feature of cryptocurrency is its anonymity, so why are you so sure that crypto will help to combat corruption?
What prevents a politician from making a wallet and accepting bribes in bitcoins taking into account the current exchange rate?   :D

Honestly if you still think that politicians are doing corruption hiddenly you are very wrong. We all know
companies that lobbies for the politicians and pay them to select the thing they like or do the thing they want and we can all see how much money the lobbyists pay the politicians yet there is nothing people can change or at least noone did anything about it. For example just last year Internet freedom as we know of was in trouble and we knew the politicians who got paid to favor internet companies instead of people, yet they are still in their seats.

Maybe in the future but definitely not today. I mean verification itself is still not that solid and people could get away with cashing in so much then cashing out again. Also, since crypto currency is decentralized, people could wire transfer any amount of token to another person in the opposite part if the globe and juat stockpile it there.

Polytypes have many reasons to fear crypto besides corruption. Anonymity, decentralization, too, do not cause them rapid approval. It's especially funny to hear criticism from crypto from such as Buffett, who made their fortune by direct speculation.

Of course, the emergence of the crypto currency removes all intermediaries in the calculations, and hence the corrational component. Very mono officials earn, control budget money. If we assume that at the state level, the blockade of technology will be allowed and implemented, then this will benefit ordinary people.

Mate I dont believe that cryptocurrency can stop corruption, I think corruption will be just much more easier with digital currency rather than with fiat.
Like really I just can send ETH somewhere and nobody would know that I have done this.

I am thinking and still wondering how politicians could be stop or even preventing on doing corruption. As we all know that centralized form of transaction is present and it could never be removed because it is need to be balance. Centralized and decentralized form of currency should always be present a study shows it is not effective for the economy to have absolute centralized or absolute decentralized form so even with or without these forms of doing business politicians could still made or do corruption.

I believe that crypto currencies can improve the economy, but those people who take bribes and engage in corruption will still find a way to do it.

Yes i agree . that is also what im thinking about . i guess that is the real reason on why there are some few countries that curently bans cryptos . policians are maybe scared because they cant get a tax if crypto did become a mainstream curency to a specific country . although not all politicians are corrupt because most of them are still supporting the development of cryptos and we can already see it because there are now a lot of countries that widely adapts cryptocurrency for regular usage .

Agree with your comments. If Bitcoin is accepted in a country, politicians will be the most worried. But I do not think that Bitcoin can repel corruption. Because there are many other things that can help corrupt politicians like cash or gold

Definitely, most of the politicians fear cryptocurrency because they cannot regulate the transactions in cryptoworld, in that matter they cannot even corrupt as what they usually doing.

   They can`t regulate it, they can`t control it, and crypto-currencies are not main source of their income,
fiat is.
   But not all politicians are bad. There are good ones and there are advanced countries. Some countries
already adopted Bitcoin, other will do that too when big ones force them to.
    Many politicians are just old fashioned, they don`t recognize potential of technology and they advocate
traditional ways.
   New generations are technology oriented. This old politicians will finish their carriers soon, new time is
very close.

I think it's the other way around. Politicians and other illegal members of the society will have secure transactions throughout the entire world having access to bitcoin means you have full control of your money and nothing to be feared of having a freezed account or credit/debit card. The problem is the accuracy of money in Bitcoin is unstable it could go down easily without notice so it's a hard choice between having a bank to rely on which can give you full responsibility to their service like having insured money incase it was robbed out of the bank but Bitcoin isn't like that.

It seems to me the main reason why the state loses cryptocurrency is the loss of control over the economic sphere. Since the nature of bitcoin is contrary to the nature of statehood.

    Cryptocurrency will not stop corruption because corruption exist first in the mind of a person. I think politicians not fear in cryptocurrency,who knows politicians also investing in crypto because they know how profitable it is. Bitcoin is decentralized and politicians can't regulate it but they can invest on it to earn more profit since bitcoin is anonymous. You know other people are so greedy and sometimes do not care about others.

Crypto is another source for politicians and big business men for money laundering and corruption. But all politicians may not be aware of it besides the educated and the politicians who have support of educated advisors. Besides their own fiats all other currencies including crypto currencies can be used for illegal acts and corruptions. But this is really good for crypto's growth as all stagnant money is circulated and crypto currencies get chances of manipulating it.

Well if regular people can take advantage of cryptocurrencies, why can't politicians? I mean, it's anonymous nature cam be of well used for corruption. Let:s face it, as it stands, we can't run from corrupt politicians running our country.

I don’t think they are afraid of Bitcoin. Assuming that Bitcoin is being used by any country where the politicians are corrupt, the country will be losing millions everyday without them being able to pinpoint exactly where the problem coming or who is doing it. Someone can even hack the country’s store of Bitcoin and steal everything in it, or some group of politicians can carry out evil plans to make away with the country’s money through Bitcoin. This is likely to take place in developing countries.

The solid truth is yes.It's due to the transfernce of cryptocurrency.If bitcoin became a legal in particular country,the illegal investors such as politicians will be captured with the bank accounts.So their will be some transference.This is the cause for politicians fear about cryptocurrency.

corruption and misuse of money there will always be, because they will always look for ways to do it

Apart from corruption politicians are afraid from bitcoin just for that, but also because they were not the firsts to support it, and they always tell people that it is not going to be any good and it is just a bubble and soon it will explode, and they were wrong , and because a lot of those who invested in it earlier and who becamed rich from, so politicians don't want it to flowrish and become a big thing because it does not meet their interests.

I think crypto won't stop corruption if governments fully accept and implement
cryptocurrencies. But it however poses as an underlying threat since a lot of the
politicians have yet fully understood what crypto is fully capable of in the long
run. If these politicians do fear crypto maybe it's due to personal reasons that
always involves money and personal gains. Politics is serious money after all.

even the cryptocurrency is the new currency of every natiob thw corrupted people is always there because corruption is the value of being greedy. I think the government fear the crypto because the number 1 problem will be the tax evasions.

There are still many ways to practice corruption, with blockchain or cryptocurrency this will not stop the rate of corruption.
As far as I know, there are many political people who know and support cryptocurrency, they start to learn. And the government began to glance and do many experiments on blockchain and cryptocurrency, but again this will not reduce the rate of corruption. There is always a way because human is in fact created with the intellect of mind.   :) ;)

Not really at all yet politicians do really love it instead. Why? because they can able to hide up funds that they do have corrupted but when we do talk on the other side where blockchain tech would be implemented in terms of payment or budget system then its the end for those people who do involve on corrupting funds because they are the ones who do involve anomaly when there is already a liquidation but when crypto is already on the line then it would be an another story.

I fail to see how cryptocurrencies will stop corruption. Infact I believe the decentralized nature of cryptos will allow corruption to thrive the only reason it hasnt started is because most politicians have not grasped what crypto currencies are all about.

Not really, corrupted money can be also turn into crypto without trace since once they turn stolen money into digital wallets and turn into Altcoin it is hard to trace now since they can divide the money into different wallets...

What do you mean exactly? I agree that they can hide money quite easily in it because they can do favors and then accept crypto as a means of payment. There's always a way to return a favor, and crypto happens to be a more convenient one because it's not easily traced.

But in terms of blockchain for budget, you mean they won't be able to tunnel funds out of it so easily? Or they won't be able to misdirect it, and spend it somewhere else? Couldn't they still spend it in favor of certain interest or lobby groups if they wanted?

Because normal people can't be corrupt. To be corrupt you first have to be a person of power, a policeman, politician, judge, or any other civil servant. Money that leads to abuse of the powers given to you by the voters makes you corrupt. If a normal person uses BTC to gain advantage, hide income, leave the country, it's not that great, but when a politician does the same it not only abuses the trust given to him by the people, it kills the trust in the system and through it it kills the system itself. Corruption ultimately leads to loss of power and anarchy.

Yes, that's the absolute reason did you not want Bitcoin to be established because they do not want that their transactions go public. Recently do not care about the security but they are much more careful about the transparent network because all the transactions are visible to all of the people and any type of message can be sent using the blockchain network so where a lot of transactions which are harmful if known by the normal public. That's why they all hate it and avoid using it.

For me, even cryptocurrency will totally implemented and legally endorsed by governments globally, the word corruption will still exist, and I think corruptions  will grow more when cryptocurrency legalize, but for now that cryptocurrency is decentralized system, corruptions is not directly enter on cryptocurrency business.

Corruption is not a problem that can be solved easily, cryptocurrency is not a tool that can be used to destroy corruption, instead it will open the way for corruptors to save dirty money, because decentraliztion system is quite safe and can not be supervised by the government.

crypto currency can't stop corruption and politicians not fear crypto but crypto can be use to money laundering it may will make corruption grow because they can hide their money in crypto and it is the one of the reason why many countries banned bitcoin.

Yep, you are absolutely right and I also discussed this theme with my friends some time ago and we also came to the conclusion that crypto technologies are dangerous for politicians especially in the aspect of transparency. Unfortunately political systems are usually build on lie and that is why crypto technologies are not so suitable for politicians. I am sure that private business will appreciate the benefits of crypto technologies and mainly business will be the polygon for crypto technologies

This is true that the cryptocurrencies will stop the corruption because there is no way that they can corrupt the money of the people because the cryptocurrencies are transparent and because of that opportunity to have a transparent kind of system then the citizens or the people under those politicians can just see the transactions and identity and impeach the corrupt politician.

I really wanted blockchain technology to be implemented in the government system so that funds can be traced and those politicians that are handling the money cannot just easily escape the eyes of the people since it would be transparent then. I hope each of the department would have a designated wallet then so that transactions would be easier to trace.

One of the reasons a country doesn't improve is because of the politicians that are greedy for money and power that's why they are spending too much during elections so that they can get the vote of the people. If the system is transparent then, the corruption would be traced and people deserve to know what's happening with all the tax they have paid.

Different understandings because cryptocurrency will make it easier for them to do money laundering, data transparency only applies to transactions leading to financial assets in the bank, if the turnaround between wallets will not be easy to track, I think this is a misunderstanding, unless the government is able creating a system that keeps all crypto data tracked perfectly.

Yeah we know it, transaction is transparent, bitcoin transactions can be seen on the blockchain network, but you know how easy it
is to create a new address and you can have hundreds of addresses and anyone will not know that? corruption can still be done from that gap..

That’s a lie. There is corruption already but I don’t think that Bitcoin can end it in any way. Despite that Bitcoin is transparent in some ways, I don’t see it as a good option for any country. It will even lead to more corruption cause it will. Make it even more easy for corrupt leaders to steal from their countries. If Bitcoin wasn’t that bad then why are hackers and dark web users making use of it.

In my own opinion, it was normal for politicians to be scared on cryptocurrency because they are corrupted and people will gain wealth over them.

Yes it may be that politicians are afraid to know every money to enter their accounts. Surely they will not be able to do bad things to get some money from our taxes. So it happens that they will oppose the crypto currency and try to make issues so that it can not be approved to become official currency of the entire country.

There is transparency in cryptocurrency and it helps prevent money laundering. Not all politicians are corrupt, and if that's the case there's nothing to be afraid of if they sincerely perform their duty. In its effect, politicians will be more careful and would treat their job with utmost respect, humility, and I believe that it is of great advantage for them to religiously execute their responsibilities.

I'm not the type that believed the politician fear cryptocurrency because it will only stop corruption cause crypto currency is more than that and what the politician fear most is the anonymity nature of cryptocurrency. Besides, they also fear cryptocurrency to make us and them equal cause cryptocurrency have the keys to national liberation.   

I agree about it because the government will be easier to see transactions given to the village funds or the like, because their wallets are known and also transparent.

Politicians are actually corrupted and they did not want the people in the community to become wealthy so they are afraid of the growth of cryptocurrency since people will prefer to work at home more than in the corporate world.

I believe that they use cryptocurrency in corruption for not so long because if their country would be regulating cryptocurrencies then it every transactions and huge amount of money he hide using crpyto would be in question by the government.

Well, I do not think politician can not used bitcoin in corruption, maybe it will be one of their tool to do it though. Hopefully they are not. Its a big trouble for bitcoin community if this thing happened, because it will be of the reason why some countries will not accept it anymore and the government will be banned it forever.

of course I agree with you! Politicians are now afraid of the crypto currency, in fact it will make them safer in corruption.
right now, banks and elites pay politicians to take steps to stop the movement of crypto-conversions, especially bitocoins.

So, the transparency is blockchain, not cryptocurrency. Because blockchain shows all transactions with different nominal amounts and nothing is hidden in there. The conclusion is, cryptocurrency will not able to stop acts of corruptions, only implemented of blockchain technology in government will stop the corruptions.

Politicians are not that smart, many of them do not even have the knowledge to understand what bitcoin really is about, they fear and hate bitcoin because they were told by their bosses, the banks, what they need to do and that they need to stop it, banks are smart and they understand very well that bitcoin if allowed to grow will be a disaster for them and their profits.

They will still find something to work on, even if the crypt is accepted.

you are right, politicians are afraid because the work of crypto is decentralized.
if they use crypto as a tool of state interest, then greedy politicians are no longer free to corrupt.

I don't know about the statement but cryptocurrency's decentralization could help politicians to do anonymous transactions, if let's assume crypto would be the medium of transactions.

Rightful politicians might fear crypto for the corrupt ones to use. No law yet states that crypto is part of government officials assets for them to declare, right?

Yes, when cryptocurrency technology has the potential to reshape global finance, politicians issue the opinions and talk about volatility, the potential for money laundering or other crimes. But I doubt it because I think that the open concept owned by cryptocurrency can be used (especially) in developing countries to follow the flow of money more effectively and reduce corruption.

Maybe cryptocurrency can do more than stop corruption, you can see corruption, excessive bureaucratization and unfair taxation as today's manifestation of the predatory nature of every historical state, in that case cryptocurrency, making most of these affairs very transparent or outright unnecessary can maybe lead to more fair methods of goverment, but it will be a long term effect of the technology's expansion.

In many countries bitcoin is considered an asset and you need to declare your assets to the government, many people think that just because there is not a specific regulation in their countries they can get away with no paying taxes but that is completely false, however the real issue if in the future bitcoin is used all over the world is that corrupt politicians use bitcoin as a way to keep the money they stole since once they have that money in their addresses it is impossible to get it back without the private key of that address.

This is actually just because they have not seen a gap for them so they can do to corrupt, when they see there's a big chance to commit acts of corruption, many politicians will agree about the cryptocurrency.

This is one of the funniest things I have ever seen today😂😂. Who told you that they are afraid of Bitcoin. I even saw one in my country talking about learning Bitcoin and getting into it to invest money and make profit. So they are not afraid of it. Assuming that Bitcoin becomes our currency the we are all finished, especially those living in developing countries, cause their leaders will use it as a means to steal from them.

Corruption of politicians in one country is really a big threat to the people who are expecting for their good services for their country where they belong. But,i have no idea or any reasons that can prove us that politicians can have fear with cryptocurrency,that it can stop them to their corruptions activities.

Politicians really fear and this is expected to happen because through the blockchain network you cannot continue to promote the corruption and involve in money laundering in spite that it is anonymously carrying the transactions. Actually, this is the major reasons that many politicians are against the Bitcoin and other cryptocurrencies because of which they cannot take part in the corruption and i think this is the reason government are taking time for regulating the bitcoins in their respective countries.

Politicians fear the crypto currency because it will stop corruption and due to the introduction of the  block chain technology it ensures the security systems and its clarity so nobody can manipulate  the entire systems so bitcoin is useful in many ways for the human being world wide and it is a corruption free coin   and  popularized world wide free coin.Usually the politicians scared of bitcoin and stop corruption  of the bitcoin.due to the irregularities of their activities.

It is unlikely that politicians are afraid that the crypto currency will stop corruption. Mankind has been struggling with corruption for thousands of years and this struggle has so far proved useless. It will not be a panacea in the fight against corruption and decentralized crypto currency. Moreover, it is not applied in many spheres so far and so far there is nothing to be afraid of corrupt officials.
The main reason why states, including politicians do not want to legalize the decentralized crypto currency, is that they will not be able to track down the financial side of their citizens' activities.

is there any particular reason how cryptocurrency can stop corruption? I do not think that is the main reason why politicians do not like bitcoin. There are numerous disadvantage if bitcoin is being legalized in a country, there were risks that may come out and affect many people if that happened.

Politicians are not there because they want to change their country or help it progress, they only want to get a steady paycheck and the opportunity to steal money out of the population that they should be helping, this is why people have a mistrust of politicians since they promise something and they never fulfill those promises but with bitcoin we will take a lot of power away from them and that is a good thing.

The thing is that democracy as a system is built in such a way that in order to succeed there you have to possess a set of pretty dubious skills which sometimes imply relinquishing conventional moral values. That is also called negative selection.

That might be true in some country tgat politicians fear with the use of cryptos , and might stop the corruptions, but it is only for a while that using cryptos minimize corrupt officials , because they are not yet familiar about cryptos ,but when time to come politicians knows already much about cryptos ,they will start to be corrupt again.

My country guys are loving to put their hands in the jar of honey and take it off and lick it, if you know what I mean. So cryptocurrency you can prevent it and this is the reason why my country is still passing.

Well, I don't think that politicians are affriad of Bitcoin and crypto currency in general because crypto currency is another way for them to hide their looted money of which they don't want people to know that they have such amount of money in their possession. If you see it on the other way you will come to realise that crypto currency at its current stage encourage corrupt practice. Example can be from all this scam project in the crypto community.

As for me, I don't think the politicians are afraid of cryptocurrency because it will necessarily stop corruption. Some of them may even take advantage of the fact that cryptocurrency transactions are not traceable, and you can have millions of untraced money without anyone knowing. Maybe they are only scared of the high volatility.

Politicians no longer fear to cryptocurrency, all that fear is the regulations. Because unexpected inspections on politicians earnings and other assets were made. If it has got legal authorization, surely it'll make the inspection personal investigate upon the cryptocurrency holdings. Same time with the anonymous functioning it gives the ease on corruption.

i think the blockchain system of cryptocurrency can used for corruption because the transaction on blockchain is unnamed. so blockchain can be a big opportunity for politicians to make money laundry

in government institutions many are afraid of the strengthening of the currency crypto this is due to the government or politics can not control or regulate the currency movement crypto so they can not take profit from the user of the currency crypto

Have you heard of the theory of the "Post-truth" era? The politicans are lying and stealing, and we know the politicians are lying and stealing, and they know that we know, so they do it anyway. If we expect them to do it, they can go ahead and do it anyway. They make a vast range of sweeping promises before getting elected, knowing quite well that they will never be able to fulfull them anyway. Then they make several extreme statements to capture the ones on each extreme. Trump is a master of it. He says things just for the sake of the dramatic impact, knowing perfectly well that everybody knows he doesn't really mean it.

Politicians fear the cryptocurrency will increase corruption in their country because cryptocurrency is the kind of coin that can not be controlled by a bank or government so not only the Mafia but also the leaders in the country. You can take advantage of these to money laundering and corruption.

The blockchain ledger is very profitable. all incoming or outgoing transactions, all recorded there. if there is indeed a large transaction, there is certainly a special investigation for it. Is it money laundering, or corruption?

With every passing day, we are experiencing more advancement in the technology and that we are experiencing much better things which can then help us in having a better living. This introduction of the crypto currency is also one of the things which can serve us in the best possible manner to give us a chance to have much better life and that to get a chance to make more money.

It is indeed true that the cryptocurrency is making a good way for us to have a better type of source of income because with the cryptocurrencies in the internet, it is helping us to make more money by not going out from our home but just staying at home and doing our cryptocurrency work there.

Crypto currencies can surely bring a great revolution and that they can make this world much better place to live and that this is something which is creating a lot of confusions in mind of most of the politicians as introduction of the crypto currencies is a serious threat to all the illegal activities which are taking place and that they cannot be involved in any illegal activity once crypto coins will take over.

No I never heard of it, but after researching a little bit it was an interesting read, but to be honest this is nothing new but in the past things were a little bit different, in The Last Stand of the 300 there were 2 battles one in land and one in the sea and Themistocles was commanding the naval forces and years before the battle he was convinced that the war will find them again and he lied to the population so they constructed more ships to fight a rival city when in fact he wanted the ships for the upcoming war, but at least that lie was told for the greater good while politicians only lie now to benefit themselves.

How currencies can entirely delete corruption? Why they should fear cryptocurrencies, anyway?

Also, cryptocurrencies are not somekind of magical things. IN the end, they are just currencies. They just have adcvantages over the tradiational currencies. But removing corruption is not one of them.

Politicians don't fear crypto, because there's nothing to fear, and if there ever was, it would be probably long after they are dead. Like with everything politicians do things for votes. So if they come against cryptos, it would be to put enough fear into you to make you vote for them, so that they can protect you.

Anyway, I haven't seen many politicians talking about Bitcoin.

I agree with this, cryptocurrencies will not stop corruption and in fact there is the chance that corruption goes up since once the corrupt public officer get his hands on bitcoin it will be impossible to recover the money he steals, fortunately bitcoin also has the capability to make that amount lower since the taxes that the governments can take out of the population will get lower once major adoption happens.

Politicians are not afraid that the crypto currency will be able to overcome corruption. I do not know who came up with such an idea, but it will not be able to win a crypto currency. It has been struggling with it for thousands of years, with the most stringent measures, and yet no one has been able to overcome it, so the crypto currency will not help here either. Politicians, as representatives of the authorities, simply fear the uncontrollability of the crypto currency, and therefore the loss of financial control over their citizens.

the phrase that you said above is likely the same as politicians fear about cryptocurrency . politicians are indeed scare of cryptos because cryptos are uncontrollable which means they cannot possibly charged it by a tax and any other excess/hidden fees . cryptos can somehow minimize the corruption if more people will agree to use it but that cannt totally end the corruption and other crimes made by politicians because fiat money or regular currency will still be the mainstream currency and cryptos wil only remain as an alternative due to its complexity .

I dont think politician afraid on bitcoin because they can not corrupt. Most government afraid on bitcoin because bitcoin can used for money laundering and most for hiding dirty assets. Dirty politician must be happy with bitcoin because they can transfer their assets easily and untraceable. Bitcoin is just a tool

That is the big yes from me. Politicians affraid that the money can be traced by all citizen. And if one country using crypto for their money its done to all politicians in that country. But the crypto must be like bitcoin and no privacy features like monero or zcash. If there are privacy features like monero that cpuntry's money will be gone forever.

Bitcoin's excellent security and anonymity is a good thing, but it is also a negative thing. If Bitcoin is used in legitimate activities, it is very useful and convenient for the user. But if it is for bad intentions, the corruption money will be "washed away" by Bitcoin. And the government can not trace the corrupt money launderers. The government is concerned that Bitcoin may be a tool for money laundering.

Ane rasa hanya koruptor yg tidak memahami criptoccurency yg merasa khawatir akan sistim ini..karena yg bisa melakukan korupsi di dinas dinas kebanyakan kurang faham cripto ataupun sistem 💰 digital.. menurut pendapat ane uang fisik lebih mudah di korup di bandingkan 💰 digital.

I agree!

This is one hell of a reason that why the politicians aren't really ready to accept the crypto currencies. Cryptos are decentralized in nature. Politicians are smart and know that if they let the financial autonomy go out of their control, they will lose the way to mint money by corruption and other such ways.

Now if we have such politicians comprising the government, then how is gonna the country progress towards development?!?

Indeed Blockchain transactions are transparent, but politicians can use mixers to eliminate traces of corruption right? let alone
cyptocorrency is anonymous, you don't know the address of coin the politicians they have right? I think they are just happy with crypto

Yes.Cryptocurrency transaction are very transparent and easily identifiable.They can't do corruption with the cryptocurrency.This may be the reason for politicians against cryptocurrency.Consider the government had funded 0.5 btc for certain scheme.You are accountable to the government of the funded amount.If the amount is dollars,they can easily do malpractice.In bitcoin transaction,they can't escape from each transaction.

In my own country politicians  are not afraid of cryptocurrency as they have/ has other means of laundering money, money stolen through corruption can be  saved through other meas to be  be transmitted.  many will prefer to have there token  ,if hackers/scammer  still exist in the space for few everyone will be scared f the crypto space.

This thread's very interesting to talk about if the existence of cryptocurrency's related to corruption activities, you are right OP. Maybe, this's the main cause which makes them further to insist on ignoring the existence of cryptocurrency. It seems they are very worried if their activities in the future will be uncovered and can be known by the public.

IMO, corrupt politicians are criminals who are at the same time enemies of the real state and not those who use/adopt bitcoin.

They can fully rely on blockchain and other cryptocurrency to hide their dirty money from kickbacks and fraud on government projects.

Most of them can easily evade tax with the use of it. It's also has a major drawback in politics they can easily sneak all their corruption revenues into a wallet and no one will suspect them.

Even if bitcoin grow and prosper more or not if a government official is corrupt, then he or she still finds a way to do such thing. Corruption really exist with or without cryptocurrency.

I guess you're right.But i think corruption might be atleast minimized knowing that cryptocurrency is a decentralized one which cannot be controlled by the government unlike fiat currency itself.Hopefully cryptocurrency will be finally legalized so that corrupt politicians will be slowly out in the government too and see progress in our country's economy.

Blockchain's can be used in all manner of ways the at least suppress corruption. Think of it in the case of voting. There's obviously a real agenda amongst some to control or manipulate voting procedures. If votes were transparent, private, immutable and automatically allotted we'd have a far more trustworthy system of voting. That's just one of the simple ways DLT's can be used for good.

Granted, separating state and currency would be a huge victory for freedom, but if we start with more manageable items it's only a matter of time before we move on to bigger things.

i think it is not the currency itself that politicians are afraid of, i think the essence of blockchains and the nature of being decentralized is what they are afraid of. there are even politicians that are into cryptocurrency trading, there are celebrities that jumped into trading, soon almost all system will adapt the blockchain technology such as payment system, banking system, but this is way too early to predict, blockchain technology is still in debate over many countries, for it to penetrate the mainstream, all nation should first adapt it, if not, then this will remain a stigma.

It can not stop anymore corruption because it depends on the people who seated in government. They not afraid to do so because they have position. They used their position to earn easily. And the citizen on their country will suffer them because the taxes that given to government was useful.

When the bitcoin will legalize in certain country, they need accept first the program of the bitcoin and change how they view in certain topic specifically crypto or bitcoin

transparency, decentralization.
I think that's the reason why there are still many countries that don't accept bitcoin, they are obviously afraid of that. it's the same as turning off their steps to commit corruption.

Yes, mate, I agreed with your statement, they afraid bitcoin because they think that this will be the big competitor to them against the government because of being decentralized bitcoin they are afraid. But there are some others didn't afraid on bitcoin they used this to hide their liabilities and asset in order not to pay taxes. In this case yes maybe bitcoin used to hide the corruption.

How will corruption decrease if they know how to hide their identity in crypto and make themselves undercover? You don't know
how many wallet and address they have right? I thought it would be a double-edged knife. it might reduce but it might add corruption

I don't think corruption will slowed down or stop by the crypto currencies especially Bitcoin since they are not centralized, they are decentralized meaning they can hide their transactions whenever they want.

They can corrupt a lot of money from the government and using the cryptocurrencies to hide this transaction. This is the reason why there are a lot of criminals that want to use cryptocurrencies since there are a lot of other cryptocurrencies that has a complete or fully give users anonymity. I don't know what will be the greater good but I don't want these politicians lurking up on the transactions and making their own private transactions to launder money and have a lot of other transactions to terrorists or bad groups.

that it thanks to bitcoin to decrease it is possible, but I do not think that it will be stopped in all

It's not exactly true. The confidentiality of digital money more than paper money. This means that digital money can increase corruption. The only reason for their fears is that people will be free and this is not beneficial for the state and also people.

I don't think so that the politicians are afraid of cryptocurrency because it can stop corruption. CRyptocurrency can't really stop corruption and also it is more prone into money laundering as in cryptocurrency you don't have to reveal your identity.

I think the cryptocurrency system is not entirely transparent, because even though we can see all transactions, the transaction is still anonymous so that it can still be used for corrupt practices such as money laundering

This seems reasonable and reliable answer - opinion. And I think in my country is really seeable. Because politics in my particular country are very filthy and corrupted. They don't want crypto.

Hm. Many politicians hold the cryptocurrency. They invest millions in Bitcoin and other cryptos. I doubt that they are really afraid of it. Blockchain cannot also affect their activities.

Corruption will be there with or without crypto as long as the morality is bad, certainly a decentralized or more transparent system can help decreasing that kind of thing but you shouldn't forget that bitcoin itself is pseudo-anonymous and they can use it to do bad thing. It's also will take a long time to implement blockchain to every aspect of our life.

Lol, in many places politicians fear anything that is transparent in the business world... However, most of them are not really familiar with crypto just yet I think

yes cryptocurrency has a very positive impact on politics because it can avoid and stop corruption because all assets owned by the government will be known by all people. so it will be very difficult if used for corruption.

I believe that the use of cryptocurrencies is very wide and will fight not only corruption, but also the slowdown in payments when it comes to Intercontinental transfers

I agree with OP because no government is willing to accept crypto with is a trustless currency and everything done will be seen by the public for criticizing purposes and hence will limit their ability to steal our monies :). In fact, these politicians fear blockchain technology and only a few a ready to accept blockchain tech.

Yes, the transparency and clarity of cryptocurrency will make politicians do not "like" cryptocurrency. Especially in countries that do not accept cryptocurrency.

I agree with this, politicians tend to have kickback in every task they deal with projects. At the same time they are afraid of being transparent and that will crypto do. Letting people see your transactions every cents of it. That is probably the reason, at the same time those people thinks only there own. Cryptocurrency is something that we should be thankful of.

This is true only in some countries, why do not you think that politicians can use the Cryptocurrency industry to launder money?

At present, politicians and governments have got a glimpse of cryptocurrency. Corruption is not related to cryptocurrency, there are many forms of corruption, your opinion is only true in one aspect.

I think the politicians are not afraid of cryptocurrency, what they care about is probably the tax on cryptocurrency. Collecting taxes and tax evasion, politicians want both of these

Blockchain will be helpful to any country if they adopt it specially those who have high corruption rate. This technology can be used to monitor government funds and how politicians spend peoples taxes. No wonder if some countries might refuse to use, simply they don't want transparency and get caught.

Very mono officials earn, control budget money. If we assume that at the state level, the blockade of technology will be allowed and implemented, then this will benefit ordinary people.

Meaning you still have partial protection from the crypto currencies. You can never know the names of people in this industry. All you can know is XYZ address sent money to ABC address or CDF address is having 1000K bitcoin stored. etc etc. But this always keeps up the anonymity of the users and thus politicians may not get hampered with this.

Corruptors are criminals, so they will always look for loopholes to commit their crimes, in this case steal public money. Therefore they always reject crytocurrency applications, because blockchain technology can thwart their crimes. With this system all data will be stored in a network of interrelated servers, making it difficult to manipulate or abuse to  corruption.

I disagree tottally with the above assertion that "politicians believe that bitcoin will stop corruption".
As a matter of fact, bitcoin helps politicians to be more corrupt without anyone noticing.
So politicians like bitcoin.

They can launder money with bitcoin untraced.

No. Politicians fear many things but not bitcoin. The anonymous structure of bitcoin makes it possible for criminal activities to carried out using bitcoin.

They may be afraid of ending up the corruption but they can still earn good income by investing in crypto,but ofcourse thats a different question and idea

But whatever they do no one can stop the pursuing community of cryptocurrency to prove the universe how functional and how beneficial this virtual currency is,and this is enough reason for us to understand why and how..

Cryptocurrency looks to protect corruption with the anonymity of the account owner. For such big transaction it can only be over the counter where money laundering can be punished but if it succeeds, a lot had been protected. After this every other transaction will be online which can only traced if noticed, If it is handled by a secured hand it could be more tedious to monitor.

technological advances have made it possible to dramatically increase the accountability and transparency of public financing to reduce corruption. this digital currency that employs cryptography to ensure that transactions are secures a mode of payment for a project allows the identification of each user of the money, unlike with traditional modes of payment like notes and coins.

Agreed. Probably that feature is what their fear the most, modern politics is very corruptionized and crypto may really fix that.

I really think that the reason they fear cryptocurrencies the most is not because it's going to stop corruption, the main reason is because they are going to be out of work, many of the things that cryptocurrencies can do will affect banks and governments directly which means that all of those people are going to lose their jobs, something that they are not going to be very happy about.

I don't agree with this because I think cryptocurrencies don't provide transparency. We don't know who is the owner of the wallets. I think governments don't like cryptocurrencies because they can't collect tax from unknown wallets.

Cryptocurrency can reduce corruption. With transparant ledger, every transaction in blockchain can monitorized. But government can not identify who is the wallet owner. Blockchain can create transparant system and combine with government service, i am believe its very useful to reducing corruption

corruption comes from people, not from the money itself, so the change of money laundering will not change if you change the currency :-\

Why should politicians be afraid of decentralized crypto currency and how can it stop corruption? Do politicians refuse to take bribes with a crypto currency? In my opinion, the Crypto currency will even contribute to corruption, because it is relatively anonymous and for servicing the corruption process it is very convenient.

Cryptocurrency is good tool for hiding their corruption. Most politician afraid on cryptocurrency because banks lobby very strong. Cryptocurrency will keep going forward even government dont regulate because crypto market already stand more than 9 years and growing more bigger every year

Yes, many of the opponents of cryptocurrency say it is good for drug trafficking or arms. But I think this is a deliberate expansion of some politicians. In fact, corruption is a more serious problem. Such a society is low-level.

yes you are right because this blockchain technology and cryptocurrency can track all the owners of the wallet that is used so as to make corruptors deterred.

Does cryptocurrency really make them fear of committing corruption, crimes, shady activities, or the so-called money laundering? I think NO. Cryptocurrency is not transparent as it is a decentralized transaction made on the blockchain. It's the safest way to transact without being traced or have your personal information exposed.

Yes you are right I think politicians have no fear of crypto currency the bitcoin because it has no harm for them, bitcoin is able to use for everything and it has no effect on their economy but it will improve their money safety, so if they are I think they should not be, apparently bitcoin does not have any effect to the community and it only use to increase everyone month for profit and security of income for long time.

The title of this thread alone is nothing but truth

I also cannot understand how the cryptocurrencies stop the corruption.  yes, the crypto is anonymous but who will prevent a person to send his BTC or altcoins to another one as a bribe?

All depends on what you meant by politicians because am very much aware of the fact that most of the politicians particularly those who are corrupt make use of Bitcoin and crypto currency in general in their money laundry across the country and convert their cash to crypto currency so that the financial institutions in their country will not have access or information to the cash belonging to them.

I think so too. Politicians are not at all afraid of crypto currency in the sense that it can in some way stop the corruption. Since corruption is a crime, politicians will be more than happy to use crypto currency for these purposes in order to remain in the shadow. Anonymity of crypto currency can use absolutely everything, including politics.

I do not understand how the crypto currency can stop corruption, what is the relationship between them. It seems to me that it will be very good for corrupt officials to approach the Crypto-currency to take bribes in the Crypto-currency. Then it will be very difficult to prove the fact of receiving a bribe. Therefore, I believe that politicians are afraid of crypto currency for quite a different reason - first of all, loss of control over cash flows. Who owns this information, he has real power. Thus, because of the introduction of crypto currency, politicians are afraid to lose their power.

Apparently, there are still politicians who are supporting cryptocurrency and blockchain thing. There are still good politicians who wish to acknowledge the potential of this rypto thing. But I must admit, most of the politiciand are really afraid to accept bitcoin on their system. We all know why.

You're right OP. I think this thing is the main reason behind the various types of state restrictions on cryptocurrencies. Officials and politicians are a group of hypocrites. I know, not all officials have bad character surely there are still officials who have good character. Unfortunately, good officials position's lower if compared to bad officials. I'm sure to this day there are still good officials who have a positive outlook on cryptocurrency, but due to there's pressure from corrupt superiors then the benefits of cryptocurrency cannot be developed/realized especially for the wider community.

You’ve got it there budz,politicians are afraid of the decentralization and the transparency cryptocurrency might give(ofcourse aside from ripple and other centralized coins)

This is what the reason why Japan is enjoying the crypto as their currency because of this and why many countries hated on the other side

I don't think it can stop the corruption the question is what's the relation between a cryptocurrencies and Politicians?. Bitcoin is decentralized which is working for their user to increase their profit.Its just a internet currencies and nothing.

I heard not only normal peoples but politicians are also involve with bitcoins and investing with it.Correct me if i am wrong i don't see anything relate that makes politicians fear.

No I don’t think so because many people have putted their black money in bitcoin and that is the reason that many governments in the world have banned cryptocurrency in their respective countries. They want to stop investing illegal money. My country has also banned cryptocurrency few months ago, but I am sure they will allow its trading again.

I think they will only laugh it out as they know that they will be safe from being detected for money laundering. Crypto will not stop corruption because it will be perfect tool for corruption to proliferate. Cryptocurrencies being decentralize is one of the reason why some countries imposed total banned on cryptos.

These are not only politicians that make corruption, ordinary people also make corruption but I think cryptocurrency is not capable to stop corruption, rather it is the safest way to hide illegal money. Nobody ask for the source of investment. How they earn such huge money which they want to invest in cryptocurrency. Now tell me how crypto will stop corruption?

I don't think you can stop corruption with crypto. People will always find new ways to continue with corruption undetected. As long as there is still fiat money, the blockchain is no problem and even if at some point there may not be any fiat money left, you can still use gold, silver or other stuff as a payment. The blockchain will certainly change a lot, but it will certainly prevent corruption problems, unfortunately.  :(

As long as bitcoin is still decentralized and anonymous, politicians will never be afraid of being caught in their corruption because anonymously will always make them undercover. what they fear is regulation that makes all exchanges become centralized and asks for verification of personal data because it can allow them to be seen in money laundering or corruption cases

The ones who managed to steal money via corruption will find a way to do so even if there is a cryptocurrency revolution. And those leaders are usually fond of very centralized systems, so maybe the decentralized nature of crypto is what might make them suspicious.

I think they hate it cause almost 100% of politicians favor the idea of centralization to freedom and liberty.

this is one of the reasons why cryptocurrency was rejected in many countries because of the transparency system that Crypto has
then politicians will always make issues and work with bankers so that people do not want to know or use crypto systems :-\

How sure are you that Bitcoin is going to stop corruption, how did you know that, have you cared to make proper research and know everything about Bitcoin and how it works? Hmmm… or haven’t you heard that Bitcoin has been used to launder money several times? 😕😏 So if I’m now saying the truth, how does that make Bitcoin a tool for stopping corruption? One thing you should know is that these men in power will always find a way to steal money.

Cryptocurrencies are just a tool and a tool can be used for a lot of purposes, I will not be surprised if in the future politicians find that cryptocurrencies are a good way to hide the money that they have acquired by stealing public funds, and if that is the case then cryptocurrencies are not going to be used to stop corruption instead they are going to be used to increase the level of corruption.

I think corruptors are even safer to save their money on crypto. Because it is anonymous and difficult to track users. Because the government is afraid of cryptocurrency which will make more illegal actions. That's in my opinion, and sorry if it's wrong.

I agree about it because the government will be easier to see transactions given to the village funds or the like, because their wallets are known and also transparen,that one thing why politicians hate crypto

i am agree with your point mate.i think they want to create legal loophole when  legalize bitcoin.some of stakeholders want to legalize bitcoin and cryptocurrency.and this politicians want to make corruption from this legal.

No, I think that such a reasoning is wrong. Politicians are not afraid of the fact that the crypto currency will stop corruption. Crypto currency is not able to destroy or even reduce corruption. Corruptionists on the contrary, it is very convenient to use crypto currency to get bribes. The fact of committing this crime will be very difficult to prove in court. Therefore, if politicians are against the introduction of crypto currency, then for other reasons. First of all, they are afraid of losing power because of it, because the loss of control over the movement of cash flows will unambiguously lose power.

no, it will not stop corruption, it will remain and even more so its operations will remain anonymous that it will make it even better for them

as far as I know, it makes it easier for them to do money laundering because they can do transactions anonymously and no one knows who transacts, which is the reason the government still carries out strict regulations on the use of btc in their respective countries.

It sounds fun but I don't think that politicians fear cryptocurrency like what you said

I don't really think cryptocurrency can stop financial corruption. With cryptocurrency, the politicians can even still money to anonymous wallets without ever been detected.

This is a false statement. Politicians are not afraid of cryptocurrency due to the fact that it can defeat corruption. Cryptocurrency in general is not capable of this. In addition, the politicians themselves can use cryptocurrency anonymity to take bribes in cryptocurrency. This is very convenient and it will be very difficult for law enforcement agencies to prove the commission of this crime.
Politicians fear the decentralization of cryptocurrencies, they cannot control it, and therefore lose their power over the people.

Corrupt politicians can always thinks how they can manipulate cryptocurrency and get huge money out of it. So they want to regulate cryptocurrency in favor of them.

A transparent blockchain system will indeed prevent corruption that has happened so far, but if the government opposes that there will be many who are suspicious, therefore I have not seen many of the governments opposing cryptocurrency. So they will cover it and only be neutral on this.

on the one hand many people think that bitcoin is very vulnerable to use for money laundering, but on the other hand bitcoin or crypto currencies are considered effective enough to prevent corruption, corruptors tend to be afraid to do it if the financial system uses blockchain such as crypto currency because every transaction what happens cannot be manipulated and can be monitored by all

It depends on how it is used. The politician doesn't like the concept of money that he cannot direct.  Actually the transparency of the blockchain system and an environment in which data cannot be changed can ensure that public transactions are recorded accurately.

One of the areas that the current system is lacking is transparency that's why many people can manipulate data because they know that people wouldn't know it and even if some would know about what they are doing behind the scenes, they cannot provide an evidence because they can get rid of it or just talk to some people who are engage with the data and pay them perhaps. They cannot do it when it comes to blockchain because they cannot talk to the technology and ask some favors from them so somehow it would stop the corruption.

Well it really depends how the politicians will use it, actually politicians can use it to make more corruptions because its untraceable and it is very easy to trace and track the bitcoin address owners.

Some politicians accepting cryptocurrency for their campaign funds. Not all politician afraid on cryptocurrency because if they are good politician they should not afraid with transparancy on their account.

If the governments are currupt they can do it with no exemption, here in our country crypto currency was adopted by the government but they do not used it for the government fun but they are invested and holding bitcoin because they see the potential ability that they can able to get high income by doing investing.

I think there is no possibility that cryptocurrencies will stop corruption in the government. Political corruption are based on greediness, their tendency to acquire more wealth through illegal means. Corrupt politiciabs can acquire any amount of bitcoin because it is decentralized and the transactions are anonymous, no one will know who owned the bitcoin including its wallet addresses, only the owner.

cryptocurrency will definitely bring transparency to the  public in terms of spending of govt funds and even records maintaining  ledger through blockchain technology

True, unfortunately there are many corrupt governments, like my country's, and so full transparency would be very bad for them, I guess it would open many people's eyes. Or at least some people's, sometimes I also feel, some people simply do not want to realise the truth.

That's for sure. Politicians are not afraid of cryptocurrency due to the fact that it can defeat corruption. Unclean politicians may well use the anonymity of cryptocurrency for their dirty business. The reason for the reluctance to implement cryptocurrency is precisely that they are afraid of losing their power due to the fact that the cryptocurrency allows you to relatively uncontrollably move any amount of money, and money always means power.

Crypto has better chance to help corruption than stop it.

And I think that there are more types of politicians.
* The uninformed ones may fear crypto. All dinosaurs fear of new things.
* Then the informed ones
    - some already use crypto for investments or to hide dirty money
    - some go by what the banks tell because the bankers will support them while we don't "reward" the politicians like that
    - some just don't care

I think with the transparent nature of cryptocurrency and the blockchain, corruption can be reduced to a great extent. But I still have my reservations about some wallets that may be used for embezzlement without been able to be traced.

I think in a different way when politics uses Bitcoin. Inflation or money laundering may occur in the campaign. Because Bitcoin itself has existed on two sides.

I think politician is more favor on this cryptocurrency. Because if you want to send your money you can easy send it without tracing on whose the owner of that money. The only they can see is when the transaction do other are cannot be known. Thats why this is the perfect way to hide illegal transaction

It seems to me that it is exactly the opposite: politicians will take advantage of the anonymity guaranteed by bitcoin (it is not difficult, with any scramble) to receive money in secret. So, MORE corruption.

Actually no at all because bitcoin is still just a currency a tool to be use to send and receice money in transactions. Bitcoin has no intelligence or capacity to restrict anyone sending malicious transactions or aka money laundering or bad money. It is just a currency used to pay someone anonymously over the internet. In fact it can be a tool to be used for corruption by politicians because of it's anonymity.

Cryptocurrencies can't stop the corruption, even if our world was 100% based on blockchain money people would still be able to create anonymous wallets and trade in black markets.

However what would be interesting is voting on blockchain. If every voter would have to go in a voting center, sign his name in a list and then use a machine to register a vote in the blockchain, it'd be easy to compare the number of people who signed on a specific center and then how many votes were cast on the blockchain. If someone would try to add more votes then it'd be obvious to everyone that the number of votes are higher than the voters in the area.