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Author Topic: Can Bitcoin also lead to corruption ?  (Read 50873 times)
Rinder
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April 19, 2017, 11:12:12 AM
 #141

The only way to avoid corruption around bitcoin would each companie and governments expose their bitcoin accounts, soo all would know what the country is paying and the ammount, something that we dont know at all, since they keep this numbers hidden.
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April 19, 2017, 12:27:56 PM
Last edit: April 19, 2017, 01:06:53 PM by deisik
 #142

The only way to avoid corruption around bitcoin would each companie and governments expose their bitcoin accounts, soo all would know what the country is paying and the ammount, something that we dont know at all, since they keep this numbers hidden

I don't think we will ever get there

It is like demanding from Bill Gates to open the code of Windows. If I'm not mistaken, Microsoft did actually allow some government agencies evaluating the security of operating systems to look at the Windows codes (Windows 2000, specifically), but this is nowhere close to open-sourcing Windows. The same holds true for any other company and government. Obviously, they are afraid to get caught or just reveal their incompetence

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April 19, 2017, 01:14:16 PM
 #143

Noo bitcoin is not a physical currency that can lead country to be corrupt bitcoin is digital currency where you can only use this through internet you can deposit money from bitcoin by converting it. Bitcoin is now popular into more country who using this for trading bitcoin is new technology that people can use.
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April 19, 2017, 01:38:23 PM
 #144

The mere fact that btc deals with huge amounts of money means that it's impossible to think it won't be prone to corruption. It's everywhere even with small communities. The very definition of corruption applies to bitcoin if you think about it. Hopefully it just doesn't bloe out of proportion that will lead to btc's ruin

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April 19, 2017, 02:49:15 PM
 #145

Bitcoin can be a tool for coruption, in fact it is one of the best tool for coruption. Corruption can happen as long as the people involved have some evil intention. It doesn't matter if bitcoin exist or not, even if bitcoin doesn't exist, they will use another thing for their corruption. Bitcoin can lead to corruption as there's still a lot of greedy people in this world.


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April 19, 2017, 03:04:57 PM
 #146

I think bitcoin can be used as the instrument for corruption. Today bitcoin stays not so known and not so many people knoe about it. But in nearly future when bitcoin will be spreaded on our daily life and more people will talk about it politicians or businessmen can start to use bitcoin for their financial operations. The main factor here is that with bitcoin you can hide your indentity and such corruption money making can have place to be very often.
Corruption is thing can be do because of power. As we can see the developer of bitcoin is not that starve on power and money. Because bitcoin is money itself. We can do lot of thing in bitcoin nowadays because it developing day by day meaning to say that the fee or somewhat called tax is been used in a good way. Not like on government related tax that can be lead on corruption because of the too much power and money. So i guess the bitcoin can just lead on corruption if it may be legalize or the government will manipulate it.
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April 19, 2017, 03:22:23 PM
 #147

The mere fact that btc deals with huge amounts of money means that it's impossible to think it won't be prone to corruption. It's everywhere even with small communities. The very definition of corruption applies to bitcoin if you think about it. Hopefully it just doesn't bloe out of proportion that will lead to btc's ruin

I think that near any valuable asset there will be talk of corruption. Bitcoin itself can be used for a variety of purposes. Someone uses it for good, and someone for illegal activities
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April 19, 2017, 03:23:37 PM
 #148

Money that will lead to corruption

Indeed, any form of money leads to corruption which is not that good actually. As long as people is so lightened by money they were turn to greediness and leads to corruption, so it is in bitcoin. Currency is not to blame for bitcoins, but only human mind which thinks and acts for corruption.

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April 19, 2017, 04:40:36 PM
 #149

The problem is, as I explained in another post, that you can corrupt someone without money. For example, a powerful company can get favorable laws that make it earn money in exchange for giving a job on the board of directors to the ruler when this term ends. You do favors to me and when you finish your term I will do you a favor.

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April 19, 2017, 04:44:49 PM
 #150

Bitcoin is currency and more over it is anonymous currency so it can possibly lead to corruption on mass level. Just imagine bitcoin has no limit of transaction, saving online so people can keep in their black money there to save their taxes, bills which are to be paid to government. That will lead to corruption. There are so many ways people can actually use bitcoin for corruptions directly or indirectly.


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April 19, 2017, 05:27:32 PM
 #151

Off course bitcoin can also lead to corruption. Bitcoin is a form of money only, in digital form. Any kind of money can lead to corruption. Moreover the anonymity feature adds to it. Actually it doesn't really depend upon currency, it depends upon person's mentality. If man wants to do corruption, he will find his way.
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April 19, 2017, 08:00:53 PM
 #152

I think corruption use bitcoin or fiat money is still same very dificult, abou money laundring
because transaction bitcoin still use bank account, with bank account youre all financial transaction still can trace
I don’t think it could because at the end of the day one needs to convert it to the local traditional currency and the medium used for it is bank accounts. A transaction made by bank is recorded and the competent authorities can see it anytime they want to. Secondly if it involves corruption or such like things its value will be decreased instead of increasing.
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April 20, 2017, 01:04:14 AM
 #153

My government is warning us that bitcoin can be use to launder money and that's a yes, bitcoin can also lead to corruption only if the person is doing s shady activity. It will just depend on what is that guy aiming with bitcoin, greediness will also lead to do something bad like corruption but so far I haven't know if there is an official of our government that uses bitcoin.

As of now, bitcoins are only popular in gambling, porn and some shady transactions. But in main business bitcoins are not fully accepted in many countries.

Corruption is different, it depends on individuals but because of bitcoin transactions can't be traced so easily some people may prefer bitcoins as payment mode than fiat.

And with the help of mixers everything that is related to shady transactions can be hidden with the use of it. With the shady transactions, let's say a government official or anyone that wants to corrupt a company, he really can use bitcoin for it because there's no way for him to trace unless someone knows his bitcoin address.

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April 20, 2017, 01:21:57 AM
 #154

Off course bitcoin can also lead to corruption. Bitcoin is a form of money only, in digital form. Any kind of money can lead to corruption. Moreover the anonymity feature adds to it. Actually it doesn't really depend upon currency, it depends upon person's mentality. If man wants to do corruption, he will find his way.
I think Corruption is for government and bitcoin is not yet government regulated which is it will not get corrupted i think the term is not fit in bitcoin, bitcoin will lead to scam or stafa and i think that would be a correct term in bitcoin for illegal activities.
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April 20, 2017, 03:32:53 AM
 #155

An unfulfilled mind and will that will bring them into corruption, if all that happens this worldly destruction and no justice.
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April 20, 2017, 04:18:53 AM
 #156

i think it is being used for corruption for a long time.you cant stop corruption because how much tougher laws you make there will always be a loophole and people will make use and be away with it.people should bee aware and use bitcoins as a better use otherwise bitcoin will fall down at a exponential level.thats y education is so important.
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April 20, 2017, 04:20:45 AM
 #157

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, corruption is everywhere.

However that doesn't mean that bitcoin is the one to blame.

It's definitely not the one that is leading to corruption.

What is leading corruption is greedy politicians and people that have the slightest power they can exploit.

You simply cannot blame a currency for what people does, illegally or legally.


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April 20, 2017, 04:26:10 AM
 #158

The mere fact that btc deals with huge amounts of money means that it's impossible to think it won't be prone to corruption. It's everywhere even with small communities. The very definition of corruption applies to bitcoin if you think about it. Hopefully it just doesn't bloe out of proportion that will lead to btc's ruin

Bitcoin itself can be used for a variety of purposes. Someone uses it for good, and someone for illegal activities
It depends on the various personality of every person. If the background of the users is really bad and it has a high chance to be used as an illegal activities. But compared with the fiat currency and fiat still become a leader to be used for the illegal activities especially for the money laundering or corruption.

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April 20, 2017, 05:28:27 AM
 #159

The mere fact that btc deals with huge amounts of money means that it's impossible to think it won't be prone to corruption. It's everywhere even with small communities. The very definition of corruption applies to bitcoin if you think about it. Hopefully it just doesn't bloe out of proportion that will lead to btc's ruin

Bitcoin itself can be used for a variety of purposes. Someone uses it for good, and someone for illegal activities
It depends on the various personality of every person. If the background of the users is really bad and it has a high chance to be used as an illegal activities. But compared with the fiat currency and fiat still become a leader to be used for the illegal activities especially for the money laundering or corruption.

And there are people who says they won't use bitcoin because it is illegal but if they just think about it and widen that narrow minds of them, the most used currency for illegal activities is USD/fiat . There is something wrong in the question of this thread it should be can bitcoin be used for corruption? not it can lead to . It is impossible that bitcoin can lead to corruption, It's in the person's personality tho bitcoin and other currency can be a tool for it .

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April 20, 2017, 06:18:03 AM
 #160

The mere fact that btc deals with huge amounts of money means that it's impossible to think it won't be prone to corruption. It's everywhere even with small communities. The very definition of corruption applies to bitcoin if you think about it. Hopefully it just doesn't bloe out of proportion that will lead to btc's ruin

Bitcoin itself can be used for a variety of purposes. Someone uses it for good, and someone for illegal activities
It depends on the various personality of every person. If the background of the users is really bad and it has a high chance to be used as an illegal activities. But compared with the fiat currency and fiat still become a leader to be used for the illegal activities especially for the money laundering or corruption.

And there are people who says they won't use bitcoin because it is illegal but if they just think about it and widen that narrow minds of them, the most used currency for illegal activities is USD/fiat . There is something wrong in the question of this thread it should be can bitcoin be used for corruption? not it can lead to . It is impossible that bitcoin can lead to corruption, It's in the person's personality tho bitcoin and other currency can be a tool for it .

Many people is mentioning BTC as illegal not because of their narrow minds, but for fear and half knowledge about it. Many countries have mentioned using it illegal but no rules are their still, and USD/fiat is used more for illegal activities because its a world currency and BTC is yet not been common for the casual peoples. But yes definitely I agree, Bitcoin can not lead to corruption, its the use of Bitcoin which can lead to corruption.

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