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Author Topic: Can Bitcoin also lead to corruption ?  (Read 50873 times)
poodle63
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November 24, 2017, 12:14:00 PM
 #1381

Yes bitcoin can lead to corruption because if someone has more than the other and that person is already rich than people will not take that and go fight that person to steal all his bitcoins and other wealth because it is not divided fairly.
If we are seeing about the bitcoin mixer to erase the track about our fund and that means the possibility of the bitcoin to be used by the criminals were so high. I think that this apply in everycrypto because thge majority of the crypto used the encrypted data.

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November 24, 2017, 12:21:42 PM
 #1382

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.
nice insight about the topic.thats is absolutely right corruption is part of every government no one can deny that,thats the global problem in which the people is always the victim the lofes of everybody is at stake but its different from Cryptocurrency world.this is decentralized uncontrollable we all have privacy here so i dont think corruption can be apply here not now maybe in the future we might know
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November 24, 2017, 03:52:59 PM
 #1383

I believe that bitcoin is already being used in corruption where it existed and with ordinary money. Bitcoin costs much more than other currencies and will probably be very valuable in corruption.

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November 24, 2017, 11:48:54 PM
 #1384

Everything that is money-related can lead to corruption. But it's your choice to corrupt it or not. Always remember one thing, if you take something that isn't supposed to be yours, then it's not going to do any good for you. Might cost you something as well (I believe in karma). It's true that corruption can makes us rich easier, and faster.. But well, I think getting something from our own sweat is wayyyy better.
Bitcoin is not going to increase the level of corruption around the world, those that are corrupt are going to use any form of money in order to benefit themselves, the only issue is that bitcoin may help them get away with their crimes in a more easier way since the money they get through corruption cannot be confiscated or linked that easily to them.

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November 25, 2017, 12:30:49 AM
 #1385

I dont think so. Because  i know that this kind of organization was handled by good and very compassionate group of people. So i can conclude that no one can use corruption in bit coin.
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November 25, 2017, 03:05:28 PM
 #1386

Bitcoins come with the advantages as well as the disadvantages also. And among its disadvantages,  influencing more criminala activities and corruption are one. Transactions via bitcoin are largely untraceable and lots of people can use bitcoin for money laundering and other illegal activities. Authorities lacks the requisite know how to investigate transactions using Bitcoin. Monies laundered through Bitcoin are difficult to trace and hence it aids and abet corruption unless there is some checks and balances.bitcoin is continously growing and the threat of it to influence corruption also.
Bitcoin is such a currency which always believe on right things and don’t believe on bad things so to say that bitcoin is going to lead corruption I thinks it’s not true because bitcoin is going to help humanity and it help a lot of people thousands of people around the world they are taking interest of bitcoin and I think if you start to join bitcoin and you start hard work here so you can get a lot of profit from it so no need to do any corruption.
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November 25, 2017, 03:19:42 PM
 #1387

Of course it's everywhere Hackers would seek different ways to hack into addresses
Yes it will, since bitcoin has it's corresponding price on fiat money it will cause greediness and will lead to corruption. Imagine if the government will regulate bitcoin, we will surely hear news of corruptions on the government regarding of stolen bitcoins and much more (well, if they can trace it since bitcoin is secured). But for me, surely it will, as long as Bitcoin's price is high and bitcoin is alive, corruption is there waiting for the perfect timing to be active.
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November 25, 2017, 03:27:49 PM
 #1388

Bitcoin or any other fiat money has nothing to do with corruption. though I am not disputing the role of money in aiding corruption. Bitcoin in the hand of a corrupt person is not different from Dollars, pounds or Euro in the hand of a corrupt person.
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November 25, 2017, 03:32:24 PM
 #1389

bitcoin is operated online and people are grabbers even for just small amount , newly members of bitcoin are really on the danger side for scam like hyip and ponzi.. well if this works there  ofcorse there will be a corruption on any point of the earth .. much more safe transaction and undocumented !

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November 25, 2017, 03:35:33 PM
 #1390

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 the most strategic position that can indicates corruption is in exchanger. Because it's like a bridge between fiat and cryptocurrency. That's why many exchangers implemented verification method using IDs, passport or something like that. But if it's already on crypto market, I think it's hard to be traced.
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November 25, 2017, 03:39:10 PM
 #1391

yeah, in my opinion bitcoin could lead someone in government or some organization to corruption. maybe to be truth like money laundering by buying some btc or the other coin for someone personal own benefit. and could bring loss in region or some organization too. #cmiiw
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November 25, 2017, 03:48:24 PM
 #1392

Why not? The fact is anything that people has the opportunity to make money can lead to curroption, somehow its not the material thing that cause corruption its own choice of people who are powerful and had that dirty hands to work for their own benefits in loss of other people.
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November 25, 2017, 05:44:56 PM
 #1393

i highly doubt it, its impossible to control Bitcoin for it is decentralized so there's no way for people to use it for such things like corruption. Though either Bitcoin nor fiat money has anything to do with corruption at all.
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November 25, 2017, 07:44:36 PM
 #1394

Bitcoin can not only lead to corruption but at the same time bitcoin has the capacity to cripple any economy of a country if not properly managed. Let take fo4 example in a country where there is high rate of corrupt leaders and the currency of such nation does not have value like most countries in Africa, is the leader have knowledge of bitcoin they can take advantage of it and use it as a tool to launder huge amount of money by buying bitcoin and because of the decentralized natour of bitcoin it will be hard for such corrupt leader to be caught.

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November 26, 2017, 02:19:01 AM
 #1395

Honesty saying, bitcoin was made to handle and control your wealth without anyone's intervention. Thus, thua only mean that it can be used in whatever purpose you want even corruption. This would be easiest way to make some hidden wealth which most politician really does.if politician easily do corruption with the normal currency how much more with crypto. The truth is, bitcoin might be even used for drugs and other illegl activity
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November 26, 2017, 02:26:59 AM
 #1396

for those who cheat and do not fit the rules of bitcoin they may misuse.
As of now bitcoin can not lead to corruption because bitcoin is cryptocurrency that is use of many people as there source of income, and bitcoin is helping many people to earn many money here and there is no possibility that it may lead to corruption because bitcoin is not part of goverment so the goverment can not use bitcoin to lead for corruption.

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November 26, 2017, 11:37:12 AM
 #1397

maybe people use bitcoins to make their black money white bitcoins has also negative aspects but it is on the  user that how he wan t to use the  bitcoins. now governments are getting alert because of the bicoin hyip

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November 26, 2017, 12:41:33 PM
 #1398

The world was corrupt enough before Bitcoin launched and even if he lead to, it would be maybe 0.1% a matter of the total corruption we are enjoying everywhere Smiley

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November 26, 2017, 01:28:48 PM
 #1399

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?
Not necessary Bitcoin leads to corruption, but rather the value of it in the market, unfortunately there are a lot of pseudo people who would do everything for an extra buck.

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November 26, 2017, 01:38:52 PM
 #1400

Corruption is spread world wide and also Bitcoin can lead to corruption but usually, this kind of personal state comes before and something else is the cause - human mind. Bitcoin can just serve as the matter to achieve the corrupted cause. Not all of people using Bitcoin are corrupted but some of them have found a way they can cover their trails using decentralized currency and it is hard to see through them and catch them cause usually corrupted know what they are doing.

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