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Author Topic: Can Bitcoin also lead to corruption ?  (Read 50873 times)
Rashid555
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October 25, 2017, 05:06:54 AM
 #1101

My answer is no we can’t say that bitcoin can lead to corruption because this is also a type of money people can use it for investment and their personal sale and purchase in these days. Bitcoin can’t lead to corruption it is the form of crypto currencies which is very valuable and important for profits.

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October 25, 2017, 05:13:19 AM
 #1102

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?
Bitcoin indeed is just like as money.. but bitcoin can be said as a more modern form of money that is currently more popular among many people. Of course it can be happened, in this world there must be people who still have an intention that aim negatively like as greedy (want to gain profit more for himself). And like as the scams too that has occurred in many sites, I think that's can be said as an act of corruption on bitcoin.
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October 25, 2017, 05:36:17 AM
 #1103

What I know about corruption is every people now a days want their work to be done very fast and without any hassle so corruption starting from very common man so for common man it is not possible to use bitcoin in such transaction so lower and mid level bitcoin is having zero chance to lead to corruption and in higher level may be not sure because people afraid of digital record of transaction which can be tracked in future.

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October 25, 2017, 05:41:13 AM
 #1104

Guns don't kill people. People kill people. Guns just help.

Bitcoin doesn't make people corrupt. People are corrupt.  Bitcoin just helps.

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October 25, 2017, 05:47:49 AM
 #1105

Guns don't kill people. People kill people. Guns just help.

Bitcoin doesn't make people corrupt. People are corrupt.  Bitcoin just helps.
Good explanation, it's us who are making a decision and bitcoin is just a tool so if a certain person are really corrupt he will use bitcoin for this bad activity and we have the law to punish this kind of activities if caught so the responsibility is on the users. Even if we will campaign to use bitcoin for legitimate activities but we cannot prevent those people who are using bitcoin for their illegal activities.

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October 25, 2017, 08:11:53 AM
 #1106

Anything that has value can become subject to corruption, not only the cryptos.
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October 25, 2017, 12:47:29 PM
 #1107

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 also the way I see it. Bitcoin is a tool for corruption because it can be made digitally unlike the old process with the banks and all that, the government can see your transactions history then they have proof of corruption. Imagine when using bitcoin your anonymous and can do multiple transactions in just a blink of an eye.
Yes definitely bitcoin can lead to corruption.Since it is not controlled by any central bank or any institution,there are many cases of fraud too.Taxes can also be escaped as government has no control over the cryptocurrencies.The signature campaigns also pay us in bitcoins which cannot be traced.So we can have an extra income.People can also use cryptocurrencies in paying huge amounts in black to other persons.People can also use bitcoin in illegal deeds.Therefore for controlling corruption,government should take adequate measures.

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October 25, 2017, 12:50:57 PM
 #1108

I say yes, since bitcoin involves money and the the crocodiles in the government or any institutions are most likely finding ways just to corrupt or extract money from everything they do. Money through bitcoin also is very hard to trace.

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October 25, 2017, 09:29:04 PM
 #1109

I guess so. some People tend to get blind when it comes to big amount of money, that is why corruption are everywhere.
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October 25, 2017, 09:51:26 PM
 #1110

of course, the corrupters will use Bitcoin as a place to collect their corrupt funds
because if the results of their corruption in the form of money in banks and assets such as gold and houses,
it will be very quickly uncovered and in the know by the police..
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October 25, 2017, 09:59:52 PM
 #1111

what you are talking about is true, because all bitcoin transactions are anonymous and corrupt people need this type of platform to save their black money and to transfer them anywhere without tax and without government consideration. Everything can be used positively in a negative way, this is the use of a negative bitcoin to corrupt
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October 25, 2017, 10:00:31 PM
 #1112

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 believe that it is really possible since money is involved. As long as there's a presence of money, issues such as this is mostly to happen. It maybe become a nature on people especially to those who are being eaten by their will to get rich. Nut cases regarding with corruption is surely rare in cryptocurrency since it is an open source system and no one takes control of it.

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October 25, 2017, 10:17:21 PM
 #1113

My answer is no we can’t say that bitcoin can lead to corruption because this is also a type of money people can use it for investment and their personal sale and purchase in these days. Bitcoin can’t lead to corruption it is the form of crypto currencies which is very valuable and important for profits.
I have an opposite thought. Bitcoin can lead to the corruption to the world economic system. As you can see, our world is built on the centralized economy and money fiat is playing an important role. If bitcoin is too important and replace everything which human has built for many years, it will make the whole system burn down.


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October 26, 2017, 06:54:16 AM
 #1114

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 think it can lead to corruption when the government will include on it. Because money are involved corruption is not possible in every economy.
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October 26, 2017, 07:48:23 AM
 #1115

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 think it can lead to corruption when the government will include on it. Because money are involved corruption is not possible in every economy.
It's not only the government can do corruption, even simple individual can make this kind of activity if they really aim to do so.
Bitcoin is just a payment system and it would not function if we will not use it, in short it's a tool so if we make illegal transactions using bitcoin, that is our fault and not on the system.




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October 26, 2017, 08:01:12 AM
 #1116

dont think so. but its posible. anyone could do coruption if they want but im the end they will get caught. even its not a new thing that many of bitcoin use to be terorist fund raising and money laundry.

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October 26, 2017, 08:18:07 AM
 #1117

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?


There is a high possibility that bitcoin can lead to corruption, what attracts it to corruption is it's value is so high that many people want more of it. It is in nature to be greedy, that is why they like to have more.


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October 26, 2017, 11:48:17 AM
 #1118

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 also the way I see it. Bitcoin is a tool for corruption because it can be made digitally unlike the old process with the banks and all that, the government can see your transactions history then they have proof of corruption. Imagine when using bitcoin your anonymous and can do multiple transactions in just a blink of an eye.
and maybe that's also the reason why its still existing chances that more big politician are using this system to hide their money as it is not easy to be
trace and can be transfer without any trace, bitcoin is a currency  and what we can do with physical fiat can also be process with bitcoin if adoption already
been accepted.
People who have got the talent to misuse anything will definitely find a way to make ill use of bitcoin or any crypto currency. Bitcoin is being used in the dark and deep web. In today’s world, people who wear suits are the real criminal rather than those who have tattoos.

Crypto currencies are not mainstream yet but still we have the problem of corruption and that it is not the asset that creates such diseases. I also believe that some politicians will be holding bitcoin.
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October 26, 2017, 05:05:21 PM
 #1119

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 think Bitcoin is very supportive to abuse, because Bitcoin does not have an account holder's identity just a blockchain address, not controlled by a central bank of any country, no limit to its transfer limit, no verification required, very fast transfer in seconds. Some sources say as long as Bitcoin or cryptocurreny is not melted into the currency of a country will not be revealed the identity of the owner. Hopefully Bitcoin and other Cryptocurreny are not used to transfer money from corruption.

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October 26, 2017, 05:10:00 PM
 #1120

dont think so. but its posible. anyone could do coruption if they want but im the end they will get caught. even its not a new thing that many of bitcoin use to be terorist fund raising and money laundry.

It can lead to corruption and you know what's the reason why most of the exchanges has their KYC rules? It's because they want to make sure that they have their users identity.

There are countries that are strict with cryptocurrencies that they want to know whom are their users and what are their transactions.

 And you're right with that, bitcoin can used with those things because they are aware that bitcoin can be used for money laundering and other illegal stuffs so corruption too.

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