Can Bitcoin also lead to corruption ?

[burnchan]

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

Agree on this mate. When there is money involve , the lust for money and power is involve, then there will always be a corruption. These happens when people became weak.  They are capable of doing bad things even if we conciously know that it is Bad. We know that corruption is a bad thing, but many people are into it because it becomes a norm. That may end up accepted by the society.  If  a person doesn't stand for what is right then there is a greater chance that he/she will adopt the corrupt system.

[Bit Log]

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

I don't think it can lead someone to be corrupt, bitcoin is a clean money that cannot be use to lie to people and scam them. It is only between you and the internet and the internet cannot and will not scam you, only if you have a transaction with other people. So I think that bitcoin will be clean from corruption.

[trickyriky]

Curruption is everywhere, cryptocurrency is a new sphere for its development.

BTC is  alternative decentralized currency.
So, it can be considered as an alternative method of bribing with minimal risks.

[roddy5]

Yes bitcoin is also lead corruption. In this universe, there is two side in everything ;good side & bad side.Bitcoin is blessing for us who do good thing & other it is blessing for us if anyone do bad thing with this.We have change to our mind. We have to see the good thing not bad thing.

This is correct, since it is somehow anonymous it is a good way to launder money. also it may be used in illegal activities.

[thet]

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

Any form of currency or even any kind of thing that has its value for some government officials can be used and may lead to corruption. Bitcoin can be used as their way to conduct a transaction that cannot be controlled or even monitored by someone else because there are no certain documents that may lead for some verification if ever.

[Vastraint]

While the future of cryptocurrencies is uncertain, the accusations levied at them by banking executives may say more about the execs than the crypto — do these higher ups truly believe what they are saying or are they members of an unscrupulous industry that’s desperately afraid their era of (relatively) free reign over the economy is coming to an end? As we consider the future of Bitcoin and other cryptocurrencies, the important thing to keep in mind is that while these systems could eventually become corrupt, many of the big banks critical of them already are.

Good line here. They are throwing garbage at crypto and they are a afraid that their present system will be demolished and by replaced by the blockchain technology. Under the table transactions are being done by them and they are closing it to the public while enjoying their luxurious life. They just cant deny that the blockchain have a hundred years advance than their system and of course it can be used by illegal transactions because every system can be used the question is that how will the organization will use it. At the meantime they are grinning their teeth because the club that they are  living will slowly crumbling apart without even seeing it coming.

[Andrianla]

Corruption can occur in Bitcoin, all dependent on users who use bitcoin as a business transaction. Corruption can happen in many ways, but every transaction wallet can be monitored

[cydrix]

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

YES it can lead to that situation Bitcoin has a good massive huge advantage for criminals , corrupt government officials Etc. anonymity is one of the most  good features about bitcoin untraceable transactions. It is the ideals for criminals,bounty hunters,hackers,hit-man, and drug deals other than anonymity is bitcoin  can handle money more you can imagine its for safety measures to a  criminals,bounty hunters,hackers,hit-man, and drug deals so it can be branded illegal to a country if found out this kind of risk to their states

[Yarsk]

Bitcoin if not checked and accepted and it activities managed by government is going to be one of the world biggest channel for corruption, one as at now there is no limits to how much can be save in a wallet and that can lead to excess saving of bitcoin in wallet by corrupt government officials uncheckable to any one else but them alone.
And also corrupt persons can now use bitcoin to carry out they transactions unnoticeable to any one else.

[Sled]

Bitcoin if not checked and accepted and it activities managed by government is going to be one of the world biggest channel for corruption, one as at now there is no limits to how much can be save in a wallet and that can lead to excess saving of bitcoin in wallet by corrupt government officials uncheckable to any one else but them alone.
And also corrupt persons can now use bitcoin to carry out they transactions unnoticeable to any one else.

Even without noticing it, the bitcoin is already being used as a way for corruption because they are making transactions in bitcoin to transfer or receive illegal money because the bitcoin has a feature that is more on security that the bitcoin address cannot be track down by any type of person because of the algorithm that bitcoin has.

[romecheo]

Bitcoin or other form of valuable commodity could be use by corrupt person, but it doesn't mean the existence of Bitcoin was created to promote corruption.

Bitcoin are nothing to do with those greedy and fraudulent.

[Svener]

Bitcoin or other form of valuable commodity could be use by corrupt person, but it doesn't mean the existence of Bitcoin was created to promote corruption.

Bitcoin are nothing to do with those greedy and fraudulent.

If someone wants to do corruption he can do that by anyway,its sad that it can be easily done with bitcoins.But if the bitcoin is only can purchase through bank transaction then we can stop the corruption,maybe in future all people started to use cryptos the we can easily find corruption and fraudulet by tracking the bank history.

[HellDiverUK]

Money laundering is common. I see the news that bitcoin can now be one tool to save money from corruption. a very unfortunate thing. this makes bad bitcoin image due to corruptor

[AjithBtc]

Money laundering is common. I see the news that bitcoin can now be one tool to save money from corruption. a very unfortunate thing. this makes bad bitcoin image due to corruptor

Money laundering and corruption was found around commonly. Corruption happens through different forms and bitcoin had provided with the ease in corruption through the pseudo anonymous nature of the system. As the above quote, this has generated bad image to bitcoin and digital currency as a whole.

[thesmallgod]

it so unfortunate that the way you wrap your point make the topic meaningless. first Money (either hard currency or ecurrency) cant cause corruption. corruption is the act  of making someone or something morally depraved or the state of being so. in other way corruption is define as dishonest or fraudulent conduct by those in power, typically involving bribery. bitcoin can be use to settle bribery just like any other legal tender can be use to do the same but it is not ideal to think bitcoin can lead to corruption. without BTC there will still be corruption

[joshua10]

if i'm going to ask you there is a bitcoin to say the difficulties in our country in so much help this bitcoin it's likely to be able to change or enrich our country because bitcoin is for everyone else you can use it to I see today only bitcoin I see hope for those who want to think that's my opinion ....

[lordquanta]

Just 1 week or two ago a high ranking government official in my country is accused of corruption. His group mentioned they never did anything illegal and his money mostly came from bitcoin. I wonder if he was really a big investor in crypto or he was able to hide some of his ill gotten wealth in crypto.

Just because someone is using Bitcoin, any other crypto currency, for corruption does not make it reason for corruption. A person or entity is less interested in the mean by which they commit corruption. to put it in better words, money launderer or corrupt entities are not attached to one specific tool of value storage. They dont care if they are using bitcoin or monero, ether, diamond, gold. What these guys care about is how stealthy it is, how flexible it is.
One popular reason for restraining people from using cash transaction was it increase black money. Thus people should go via banking system. These are easy to track. Now there are numerous banks, I mean international bank which were caught red handed doing money laundering. In fact these banks and financial institutes are the kingpin of corruption.
Stop killing messanger(bitcoin).

[btcprospecter]

Bitcoin won't lead to corruption it would be a tool corrupt people would use gone are the days of a brown envelope under the table. Now bitcoin coin can be used and is unique in the way that it is untraceable.

[Skyshark]

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

Anything that is of value can definitely be used in corruption, money is a good thing, but because of people who are greedy and always wanting more, it lead money to a bad reputation. Now bitcoin is the same as that, actually, anything can be a couse of corruption, because its not the thing that makes corruption its the users.

[danherbias07]

Bitcoin won't lead to corruption it would be a tool corrupt people would use gone are the days of a brown envelope under the table. Now bitcoin coin can be used and is unique in the way that it is untraceable.

Yes. It is like the illegal transactions have been simplified.
No more bringing plastics of paper money and it will just be their smartphones doing the transactions. They wont be easily noticed also even if they are in a cafe. It is too simply and no one sees your phone.