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Author Topic: Can Bitcoin also lead to corruption ?  (Read 49918 times)
Sled
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November 12, 2017, 09:55:38 AM
 #1301

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. Actually it will be more secret or hidden for each transaction happens in the internet. We cannot control every individual in the web specially they don't even give their personal identities. It is easy for them to do that and become more accessible by the help of internet. Corruption can arise in every platforms if there are still individual that are greedy to wealth.
I agree to that. Almost all the platforms of the forms of money are vulnerable for the people who are corrupt because they are so greedy and hungry for wealth so they will do anything just to execute an illegal thing to engage a corruption. Bitcoin is one of the most vulnerable for that because of the anonymity but there is nothing new for that because even in the fiat currencies which are not anonymous are prone to corruption.

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November 12, 2017, 10:31:46 AM
 #1302

I have been in the corporate as well as self-govern community. You have to accept the reality that people are motivated by all kinds of reasons, noble cause, financial interest, title, power, ego, sex, and many other dark gains. We can't blame corporate, community, money or technology for these dark sides of human being. I am sure scammers will invent more scams on Bitcoin and people will be creative to use this new currency for their corruption agenda. The bottomline is this, whether it provides this world more good than bad? It is also a race between two camps as one tries to advance the benefit of the society as a whole as well as individuals while the other camp tries to advance a few individuals' benefit at the cost of the rest majority.
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November 12, 2017, 10:54:07 AM
 #1303

If there's a lot of money there is a possibility that it will lead in corruption. We cannot avoid people who are greedy and ready to do anything for the sake of money, and reality check there is a lot of people with that kind of mentality.Corruption is everywhere wether in government or in private sectors, it is a one of a kind sickness of human that until now no curement. It can also be done by a single person neither a group, but hoping decent people here in btc will remain and stand to there good perspective and goals.

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November 13, 2017, 07:52:27 AM
 #1304

Corruption can be done even in a smallest community due to it's personal intensions, they don't care if they affect every human being just to get what they want. Just like here in Bitcoin forum, some of the member here are waiting for their victim to scam their accounts they don't care about the feelings of other, they work so hard and yet someone will only just hack their account because of their greediness,.
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November 13, 2017, 08:23:18 AM
 #1305

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?
What kind of corruptions you are talking about? Bribes? Money laundering? Insider trading? Every single one of those existed before bitcoin and they will exist after it.
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November 13, 2017, 08:35:55 AM
 #1306

Isnt the very idea of bitcoin excludes corruption and any other types of fraud?
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November 13, 2017, 10:14:58 AM
 #1307

Through anything anyone can corrupt, but in bitcoin will be quite difficult to do corruption, because transactions and history that we do all recorded, may make corruption becomes difficult

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November 13, 2017, 10:47:41 AM
 #1308

Yes it can also lead to problem, it is obvious on bitcoin that induce corruption. But at this time i am thinking how it will be executed? How will corruption leave bitcoin?. Perhaps if federal government will regulate bitcoin , i believe the corruption will begin from here, as you may know bitcoin hold a lot of worth, just like cash that lead to corruption as bitcoin like a crypto-cash, it is obvious that after that reason, problem will arise due to bitcoin and federal government regulation.
I must say that it is not the thing which is right or wrong. In fact, it is the usage of that thing which decides this thing. Bitcoin itself is very good thing but there are likely chances that bitcoin can be used in any kind of illegal activities like that of corruption. If there comes a time when we experience this kind of thing, then we have to blame ourselves for that instead of blaming bitcoin.


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November 14, 2017, 08:23:38 AM
 #1309

of course, bitcoin is their field to launder their corrupt money, here are many opportunities but that need to be noticed bitcoin has a weak side everyone can use without being traced at all, this is what makes bitcoin banned in some countries.
No it’s not true bitcoin is not going to lead any corruption or any bad things because bitcoin is going to helping in economy of countries and its working against world poverty and bitcoin already reduce un employment from many countries so I’m not agree that bitcoin is using for such a bad things it’s one of the safe and sound currency.


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November 14, 2017, 09:01:54 AM
 #1310

In my opinion,it depends on the person who uses it.
The word CORRUPTION for us is familiar,many people out there are corruption and it's their own actions.
So if bitcoin causes corruption it is wrong, which causes you corruption,is yourself.
corruption is in the heart of someone if you can refuse it then you will not corruption,if you accept it then you will do the corruption,so do not never corruption even a little because a little mistake,maybe can to be big.


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November 14, 2017, 09:06:42 AM
 #1311

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. Actually it will be more secret or hidden for each transaction happens in the internet. We cannot control every individual in the web specially they don't even give their personal identities. It is easy for them to do that and become more accessible by the help of internet. Corruption can arise in every platforms if there are still individual that are greedy to wealth.
I will say even more, as long as there are people and corruption. After all, money does not harm people, but greed. You need to be kinder to each other and understand that there are some simple values, more expensive than money, and even more so of corruption.

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November 14, 2017, 09:31:57 AM
 #1312

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 everyone knows money can make people greedy and start any corruption but my mind is different from bitcoin if I have some bitcoin I will trade bitcoin for my life to be rich and share it with the poor and orphanage because they need more money than they we
And more importantly never think that we are immortal or will never grow old and die

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November 14, 2017, 09:41:12 AM
 #1313

Corruption is to Bitcoin like air is to a bird. It's the natural environment. Greed, lack of regulation, possible anonymity, irreversible transactions. It's a perfect formula.

As an actual ledger it can't be corrupted and that may well help reduce overall corruption elsewhere. Many things surrounding it carry a fairly nasty smell.
Bitcoin is money so and you said all around will be corruption so its possible that bitcoin use to corruption. Especially to government if they know about bitcoin i think they will use it.

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November 14, 2017, 01:33:52 PM
 #1314

Yeah it can. In the form of hidden payments i think. So you can get a kickback from anyone in the world and no one can define both of you. Isn't it a perfect way of corruption?
We cannot blame the bitcoin for the low thinking of the people a lot of the bad things are happening with the people because the value of the bitcoin I know the value of the bitcoin is very high and it is being use by all the people dome use the bitcoin and this is the best thing some people use the bitcoin for the charity and some as the corruption so in the bitcoin everything is possible and it is up to the user not the fault of the bitcoin at all.

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November 14, 2017, 11:27:21 PM
 #1315

With a quite higher stability ranges so I will make positive that the corruptor will save their cash to bitcoin, this is simply because if they save money in the lender can be very easily tracked so they will maintain to bitcoin.
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November 14, 2017, 11:31:32 PM
 #1316

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?

Corruption by greedy people but not by government, yes.  It is evident because there are many investment sites that promises high profit, high return of invested btc in just a short period of time.  It is like 10% interest on your btc everyday.  That percentage is really big that is why many will invest.  After awhile or just before a month, it will turn out to be a scam.

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Japinat
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November 15, 2017, 03:28:29 AM
 #1317

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?

Corruption by greedy people but not by government, yes.  It is evident because there are many investment sites that promises high profit, high return of invested btc in just a short period of time.  It is like 10% interest on your btc everyday.  That percentage is really big that is why many will invest.  After awhile or just before a month, it will turn out to be a scam.
That's another thing I guess, HYIP has already created a bad reputation and investors are not really investing it hoping for a long term success but they just want to gamble with the short term and hoping they can get their ROI with a little profit and just leave the HYIP.
Maybe when bitcoin was still new there are a lot of victims with this kind of scams but people are much wiser now.


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OrangeII
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November 15, 2017, 03:43:57 AM
 #1318

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?

Corruption by greedy people but not by government, yes.  It is evident because there are many investment sites that promises high profit, high return of invested btc in just a short period of time.  It is like 10% interest on your btc everyday.  That percentage is really big that is why many will invest.  After awhile or just before a month, it will turn out to be a scam.
That's another thing I guess, HYIP has already created a bad reputation and investors are not really investing it hoping for a long term success but they just want to gamble with the short term and hoping they can get their ROI with a little profit and just leave the HYIP.
Maybe when bitcoin was still new there are a lot of victims with this kind of scams but people are much wiser now.
I often see bitcoin used for negative things, such as gambling, illegal transactions, and much more. I think there are some people who use bitcoin as a tool of corruption, well we never know the evil intentions of a person, or a group.


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November 15, 2017, 03:57:06 AM
 #1319

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?

Corruption by greedy people but not by government, yes.  It is evident because there are many investment sites that promises high profit, high return of invested btc in just a short period of time.  It is like 10% interest on your btc everyday.  That percentage is really big that is why many will invest.  After awhile or just before a month, it will turn out to be a scam.
That's another thing I guess, HYIP has already created a bad reputation and investors are not really investing it hoping for a long term success but they just want to gamble with the short term and hoping they can get their ROI with a little profit and just leave the HYIP.
Maybe when bitcoin was still new there are a lot of victims with this kind of scams but people are much wiser now.
I agree to that. People right now are smarter than before and that is why HYIPs cannot fool the people to invest their money into that. HYIPs are just part of the history and their customers or possible victims are getting lower in amount because people choose the other source of income rather than the HYIPs that is just pure scam and just being designed to steal people's money.

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November 15, 2017, 07:23:57 PM
 #1320

I think the right question for this is "Can people start corruption on Bitcoin?". Bitcoin is just a Bitcoin. It is up to us how we'll use it. This will define if Bitcoin will lead to corruption or not.
It is going to happen, in fact I am surprised that I have not heard any major case yet, maybe I have not been watching the news hard enough, but it will happen and unfortunately it is going to be great for those that love corruption because even if that persons gets caught it is going to be impossible to get that money back.






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