Can Bitcoin also lead to corruption ?

[Maragan13]

It can also happen if its leaders are starting to get corrupt

[ongels]

Yes it will happen also in bitcoin environment, as far as i know, most of the thing related to money issues are highly prone to corruption, Especially transactions using btc got's attention to the user because of freedom and anonymity of everybody. Perhaps this is the simplest way to make money laundering because government has no control and hard to tract transactions.

[Viscera]

If they will create a token that will give a boost bitcoin to pay more taxes, creating digital wallets are far more important. but pretty sure it may or may not happen in the first first.

[brainape]

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.

Blaming the gun for murder instead of the shooter is wrong. It is a very basic common sense and even crystal clear to a blind person. It is not the assets that produce corruption but the mean minds of politicians who are mere puppets in the hand of powerful ones like Rothschild, Nazi etc.

In addition to this, bitcoin is a savior. It has given freedom to common people. Nobody can snatch public’s money by heavy taxing.

I must appreciate your logic of reasoning. There is no way that we can blame bitcoin for being used in any kind of illegal activities or stuff like that. In fact, it is the faults of the ones who are having bitcoin in their pockets and who are actually encouraging use of bitcoin and other crypto currencies in such kind of activities. Bitcoin itself is a very profitable thing. We actually need to use it in a right way.

Obviously, the fault is on the side of users not the currency itself. It is us who are misusing bitcoin and destroying its image around the world otherwise those who have used in right way are now millionaires or earning decent amount of money with bitcoin.

Bitcoin is just like other currencies and even before bitcoin, corruption was there and people do corruption even with paper money.

It is us who are abusing bitcoin and crushing its picture the world over generally the individuals who have utilized as a part of right way are currently tycoons or gaining better than average measure of cash with bitcoin

I don’t think so but people observe a lot of people I am sure they will find a way to use bitcoin for corruption but I think this will need a full process and no one will ever spend time etc on this simply they need to use and earn bitcoin through with their hard work and investment in bitcoin.

[MAHNOOR]

It is considered that it will be possible to get rid of corruption and theft only by changing society and institutions.  However, it can be done much easier - with the help of computer technology, from which it will be impossible to hide.  I believe that bitcoin in some part struggles with corruption.

For me, bitcoin will only lead to corruption if the government is on control of it but as long as it isn't then for me it won't lead into any kind of corrupting rather it could even help some people to earn some extra money. But yeah, theft is one thing the bitcoin holders should fear especially those who doesn't know how to protect their private key and passwords. Since bitcoin itself is hard to decrypt except for the computer where the priv key is on.

According to me this will not be possible but I heard that people used bitcoin for doing negative thing like using for drugs and smuggling so than I feels really weird and I think that one day this will also become possible to use bitcoin for doing corruption and it think after that bitcoin will lose all its importance in people vision.

[bakunawaaa]

Anything can be used for corruption. Bitcoin especially can be a good bribe material since it is in a way decentralized. People in government or in any public office wish to hide their wealth as much as possible so anything that is easy to conceal but has huge value in the econony is a target for corruption.

[quovadiz]

Anything can be used for corruption. Bitcoin especially can be a good bribe material since it is in a way decentralized. People in government or in any public office wish to hide their wealth as much as possible so anything that is easy to conceal but has huge value in the econony is a target for corruption.

But i think still bitcoin is not so much poplar that people can take the risk to use bitcoin for corruption, specially those people will never accept bitcoin as bribe who do not have any idea about bitcoin, and i can hope that even in future bitcoin will remain as safe from any king of corruption or anything else.

[BTCeminjas]

Corruption is for those people selfish and greedy for money, when it comes money many tainted of this thing, because of this they will do corruption. Maybe in this situation bitcoin can involved for those people who have used it. Easy transaction and cannot trace it. We hope that it will never happen to this bitcoin.

[Bluestreet]

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 also lead to corruption,  as bitcoins allow transaction freedom,  which means that the person's information and their transaction details will limit to them only.  They are free from any kind of taxes and transaction fees.  In case of people like who involved in illegal activities,  can benefit from it,  as they will not have to show any information about the transaction,  people involved in crime,  like drug dealing,  ransom money.  Corruption will be increased as the person who wants to done his world will bribe the other without even letting know other about it.  Man countries like Indonesia, Japan are feared but this fact that they had banned once cryptocurreny.

[justdimin]

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?

Of course it can. It already lead to some nasty viruses out there, and I mean on electronic viruses. More and more people consider Bitcoin because it can provide easy money. Just by holding Bitcoins person can make a lot of money, from fluctuation of the price. I see no reason why some person that would accept fiat money would not accept Bitcoin (if they know what Bitcoin is). It is even better with Bitcoins, because Bitcoins can not be tracked that easy. And we all know that corrupted people would not like to be found. So it is possible.

Over time, people will keep understanding the necessities of building their wallet security, getting to understand how usable security works and adapting it to fast. The earlier the better when people started knowing that the use of 2FAs is very necessary and the era of using qwerty1234 as password has passed.

Hackers have always been targeting people in the past, by stealing credit card information, selling them and so on and so forth, so bitcoin did not cause that as it is simply a cyber problem that would keep going on and it is left for each person to brace up and get better at securing their assets.

[Natural Perm]

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?

Definetly, corruption is for those people who are so greedy in money, they want to be rich all of them, their are selfish by themselves. They dont care to people who is affected on what their doing because they dont reall care about it. Because nowadays bitcoin in the source of income to people who dont have any jobs because this is opprtunity to people who's on poverty, but some poeple is abuse it. I hope their not use this to scam people or corrupt money.

[lvincent]

Corruption is everywhere it's in each and everyone of us, it's inside us, it's up to us if where gonna do the right thing or the wrong thing. Bitcoin can be used in corruption of course just look at the internet it has a dark side that people using it for illegal things, Bitcoin on the other hand is for me is the future of money and if money's involved that's where a lot of people really get corrupted.

[Fappanu]

Wealth can very much lead to corruption. Provided that Bitcoin favors anonymity it is quite easy for people that are not ethical to slip into corrupted or at least non legal practices.

Everything that involves money will lead people to corruption, scamming and illegal practices. Money is a root of evil we all know that. However, we as individuals, must know how to handle our money without greediness. We must be contented with the fruit of our hardwork. Don't get the earnings that belongs to somebody else.

[kiloiko]

I guess not. Bitcoin doesn't belong to any institutes or agencies,  so no one can authorize it. It has its own system which can avoid the risk of being corrupted.

You are right , the foremost thing to be understood is that this is not bitcoin which will lead to corruption but its the mental makeup of the people which forces them to do illegal things and make black money , so we should accept our fault rather blaming bitcoin. And i think bitcoin by its technology and process is leading to lessen the risk of corruption.

[zeaderza]

it is us people that will lead Bitcoin to corruption if we abuse it. Especially in politics. Tracking laundered money would be hard if it would be converted to bitcoin or any other cyrptocurrency.

Lol, I kept on laughing after reading this. Yes, we are the ones that’s corrupt, but we can’t just be corrupt without any reason (though there are some people who are naturally evil) there are things that pushes most of us to do what we don’t want to do and that is money. Bitcoin is money, Gold is also money, and when we seek these things, those of us who don’t achieve them tends to do so by going through the evils means of getting it.

This is total a wrong statement as before bitcoin cash was used in all type of illegal activities is that a fault of cash it is the user who use it in different means and yes anonymity is the concern of bitcoin and governments are looking forward to resolve this issue china banned bitcoin so that in their region money launderers will use It for them and deceive them, and it will not lead to corruption if checking is performed.

[TheAndy500]

Of course, yes, by his anonymity and the way of transferring funds that is entirely based on the internet is possible.

[MonaLeeTracy]

I guess not. Bitcoin doesn't belong to any institutes or agencies,  so no one can authorize it. It has its own system which can avoid the risk of being corrupted.

You are right , the foremost thing to be understood is that this is not bitcoin which will lead to corruption but its the mental makeup of the people which forces them to do illegal things and make black money , so we should accept our fault rather blaming bitcoin. And i think bitcoin by its technology and process is leading to lessen the risk of corruption.

I think it is possible that this may happen, although not joining an institution, but in my opinion there are still some who have a greedy nature like the corruptors who certainly eat the people's money continuously.

[okwang231]

yes i agree that bitcoin is capable of solving the difficulty of our country bitcoin because it is for everyone whatever it is that you do not have a job to be able to bitcoin and pay a big amount of money so our country can not progress through bitcoin so for me I believe I can afford bitcoin to take the poverty of our country ..

[Caladonian]

I guess not. Bitcoin doesn't belong to any institutes or agencies,  so no one can authorize it. It has its own system which can avoid the risk of being corrupted.

You are right , the foremost thing to be understood is that this is not bitcoin which will lead to corruption but its the mental makeup of the people which forces them to do illegal things and make black money , so we should accept our fault rather blaming bitcoin. And i think bitcoin by its technology and process is leading to lessen the risk of corruption.

I think it is possible that this may happen, although not joining an institution, but in my opinion there are still some who have a greedy nature like the corruptors who certainly eat the people's money continuously.

well we cant control that fact mate, greedy people is all around and if bitcoin is another currency so corruptions coming from those people will followed.
anyway its really an easy access to transfer money without any hassle and can hide identity.

[swscowods]

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.

I think that's the saddest part of of the usages of bitcoin were it can be use for illegal activities if the users has a bad intention for it. But as much as we can we should not abuse the usages of bitcoin.

I usually do not fancy it when bitcoin is being attributed to illegal activities as if would make it much more worst. Firstly, unless you want to do some mixing, bitcoin transaction can be traced so not necessarily anonymous. Also, illegal activities has been in existence even before bitcoin came into play. There are so many means they have always made payments in cash, assets and so on, so bitcoin is definitely not an exception and also not the cause.

I must say that it will not be the fault of bitcoin but the fault of the ones who are having a major portion of bitcoins in their wallets if bitcoin will be ever used in any kind of illegal activities or corruption. Bitcoin itself cannot do anything.

It all depends on the ones who are having it like how they are going to make use of bitcoin in their practical lives. So, we need to make good use of bitcoin.