Can Bitcoin also lead to corruption ?

[Saidmod]

According to Wikipedia, Corruption is a form of dishonest or unethical conduct by a person entrusted with a position of authority, often to acquire personal benefit. Corruption is very dangerous because can make vey bad impact, it can even make people become poor and the country gets worse. Unfortunately the current corruption can happen anywhere including through the current internet help, so there is a possibility it happens through cryptocurrency.

From the definition you had given, it is clear that bitcoin can also be used by greedy people for corruption. Unfortunately, corrupt people and scammers are very wise with regards to doing bad just to earn money.

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[btcminer6212]

Bitcoin or another crypto currency will not be able to defeat corruption. Anonymity in sending money, on the contrary, stimulates bribery.

no i don,t think so.in my opinion.It's not that we're blaming bitcoin over corruption, Yes we know that in almost every place or country there is corruption and those greedy people are doing it in almost exactly the same. Sometimes they get easily caught because we all know that they're doing it with some investigation on their 'transactions. The point here is that due to the features of bitcoin like its anonymity, we really can't track their transaction so this can be used as a way to hide their corrupted money.because corruption is corruption .if you want to do corruption then you can,t blame anyone for this.

[kimochidesh]

First of all, we need to understand that greed is the root of corruption...politicians or bureaucrats misuse their power and use unethical ways to earn money that leads to corruption.
Yes, BTC can become a powerful instrument for corruption in future. It is difficult to keep cash as it needs safe space to it, on the other hand, BTC wallets need no space, are theft-free, easy to carry and funds inside them can easily be transferred. So BTC can be served as the biggest source of corruption.

[dongyi17]

  well.. I think it can be...as long as there is people who always want to take advantage over something just to get for themselves, .. they're always have a way of getting it, they know a lot when comes to corruption because  money for them is everything if they have it, they can do anything, they can go anywhere corrupt people regardless of status in life are manipulators their greediness over money is beyond their position it becomes their lifestyle.

[Xanxus024]

Yes because there's money involved. Corruption can occur both private and public industry especially in public that's why government want to control the cryptocurrencies. Usually corruption appear to those greedy people and we all know bitcoin has a big value now so they can used it to bribe people.

[stadus]

Yes because there's money involved. Corruption can occur both private and public industry especially in public that's why government want to control the cryptocurrencies. Usually corruption appear to those greedy people and we all know bitcoin has a big value now so they can used it to bribe people.

It's the the decision of the people to do illegal things, bitcoin has a good value therefore it's not possible it can be use for illegal activities.
What we should know is that bitcoin is transparent, if you do illegal transactions you will surely be trace the soonest.

[Cryppy_guyL]

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 was always and will be, only very rapidly growing and spreading. So any thing that has at least some value can be used in corruption. And it is impossible to win.

[plain_lame]

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 was always and will be, only very rapidly growing and spreading. So any thing that has at least some value can be used in corruption. And it is impossible to win.

But the affect of Bitcoin on the corruption is really clearly , they have the new way to clean their dirty money right?

[Flexibit]

Corrupt governments tend to declare Bitcoin illegal while countries with good governance have a friendly regulatory framework for Bitcoin. It's that simple. Really.

[alisafidel58]

Since bitcoin can be considered as money, can it also lead to corruption?

Money has always been the source of corruption and bitcoin is money, as long as people can be bribe with anything like bitcoin it can lead to corruption.
Corrupt government official and staff would love to be bribe by bitcoin because it can hide their wealth from government offices who look at their annual income and properties.

[grandbrad02]

Since bitcoin can be considered as money, can it also lead to corruption?

Money has always been the source of corruption and bitcoin is money, as long as people can be bribe with anything like bitcoin it can lead to corruption.
Corrupt government official and staff would love to be bribe by bitcoin because it can hide their wealth from government offices who look at their annual income and properties.

Actually in the official way, Bitcoin isn't considered as money, it's just an asset or an investment depend on how you're looking at it.

[ThunderCatSteve]

There was never so easy to corruption or to shady activities that it is now, bitcoin is seperated money from fiat.

[BeGoods]

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 was always and will be, only very rapidly growing and spreading. So any thing that has at least some value can be used in corruption. And it is impossible to win.

But the affect of Bitcoin on the corruption is really clearly , they have the new way to clean their dirty money right?

Bitcoin provides real freedom to transact to anyone. everyone is free to use bitcoin for any purpose. there is no central control (decentralization) so no one forbids you to engage in illegal activities. of that things I'm sure there are many people who use the facility to do money laundering from corruption that they do. bitcoin really helps them for this case

[DPrillio]

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 was always and will be, only very rapidly growing and spreading. So any thing that has at least some value can be used in corruption. And it is impossible to win.

But the affect of Bitcoin on the corruption is really clearly , they have the new way to clean their dirty money right?

Bitcoin provides real freedom to transact to anyone. everyone is free to use bitcoin for any purpose. there is no central control (decentralization) so no one forbids you to engage in illegal activities. of that things I'm sure there are many people who use the facility to do money laundering from corruption that they do. bitcoin really helps them for this case

Well, its not far to be possibly happen because its a money or a source of money and talking about money then we know its hot that others may abuse and take advantage for it and in the first place its not controlled by any other party therefore its prone to be used in illegal monetary transfer for corruption.

[xebecstyx]

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.

There's always a possibility. That's the thing about corrupt people, they would always find ways to ruin something good just to take advantage of others or the system itself to gain some profit and to put themselves in a position where they would have control, profit and power. Given that bitcoin has been having a record year in terms of gaining value, it would not be a fantasy to think that many syndicates or dark entities have already set their eyes in the bitcoin market to use it for some illegal or menacing purpose. For all we know, they are already devising ways on how to crack the security of bitcoin transactions because since it's online, there's always a room for it to be vulnerable against hacking and the likes.

[nagatraju]

I agree that it will be much more difficult, but people will be able to do this...we are so enterprising in those things where we see the benefits...and unfortunately it will be a bad experience

[davinchi]

I think it depends on the people of where he use bitcoin if in criminal activities or corruption.But we dont want that dirty hands in bitcoin we dont want to harm it from those people.Bitcoin is money it is involved always in every activities that can lead to criminal activities.

I believe that everything that has to do with money can lead to corruption. Bitcoin is money, so it can also lead to corruption. We don’t even need to be told, cause there are already dark webs that can only be accessed by Tor browsers online. Do you ever ask yourself what is it that these people do on dark webs. It’s all part of that corruption we are talking about.

[Hoganye]

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 was always and will be, only very rapidly growing and spreading. So any thing that has at least some value can be used in corruption. And it is impossible to win.

But the affect of Bitcoin on the corruption is really clearly , they have the new way to clean their dirty money right?

Bitcoin provides real freedom to transact to anyone. everyone is free to use bitcoin for any purpose. there is no central control (decentralization) so no one forbids you to engage in illegal activities. of that things I'm sure there are many people who use the facility to do money laundering from corruption that they do. bitcoin really helps them for this case

Well, its not far to be possibly happen because its a money or a source of money and talking about money then we know its hot that others may abuse and take advantage for it and in the first place its not controlled by any other party therefore its prone to be used in illegal monetary transfer for corruption.

Actually with FIAT, the government can still use it for corruption. However, with cryptocurrency, corruption become easily for the government at present. No one know the owner of an address unless this person verified KYC its address on exchange.

[sms301]

In case you guys missed it, recently FBI arrested some lady for money laundering and donating to ISL in Long Island, New York. And, When I first came to know about this, My first idea was Bitcoin is used in silkroad or darknet as currency. Well, these days many people talks about it and hold some cryptocurrency. It's becoming mainstream day by day. So yes, It'll may be used  for corruption.

[kristianbasdeo]

Corruption and money laundering for sure, one of the most normal uses for BTc around the world.