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Author Topic: Can Bitcoin also lead to corruption ?  (Read 50880 times)
removebeforeflight
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January 07, 2018, 02:19:38 PM
 #1661

Any currency can be bribed as corruption to make things happen in this world, likewise bitcoin may or may not be used for the same and it's up to the person who does it. Bitcoin or any cryptocurrency never entertains such thing but wrong hands and wrong brains utilize this kind of technology in their favor which is uncontrollable as of now.
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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January 07, 2018, 03:40:44 PM
 #1662

Logically, you will always have less corruption with bitcoin as it can't be controlled by anyone or any government

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Tessihen
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January 07, 2018, 03:45:44 PM
 #1663

Logically, you will always have less corruption with bitcoin as it can't be controlled by anyone or any government
yes actually bitcoin is controlled by any non party person i think hard if used as tool of corruption.
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January 07, 2018, 06:07:34 PM
 #1664

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?
The truth is bitcoin is a perfect tool for corruption and money laundering because one man's tool is another man's weapon. Bitcoin was invented to change the world and to free people from the banks and their financial greed, yet the criminals too also steps in to swim together with the rest of the people.   
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January 07, 2018, 06:31:38 PM
 #1665

Well this can happen because most Bitcoin users will be anonymous and will not be known. This indirectly makes things like corruption, money laundering very easy and simple. And because Bitcoin does not identify any kind of people, even government employees can take bribes

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January 08, 2018, 12:33:06 AM
 #1666

I'm pretty sure that there is already corruption in Bitcoin. Where there is money, there will also be corruption. For all you know, politicians might be using Bitcoin to receive bribes from companies and such. Privacy coins are also very likely to be used for corruption.

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January 08, 2018, 03:14:36 AM
 #1667

I think this depends on the individual individual, as long as they have a mental corruption then without their bitcoin will corruption, it becomes an important issue for the government to be able to supervise the behavior of the people.

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January 10, 2018, 05:49:52 AM
 #1668

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?
  If the government finds a solution how to control bitcoin, then corruption will begin. As long as the authorities do not know how to deal with all this, that is why they do not touch bitcoins with a ban, but once they understand what they need to do, they will immediately take the bitkoin to their hands. But I think they have nothing will turn out, bitcoin can not be taken under control.
Bitcoin can lead to corruption, which we can already see, just like these people that are into hacking others wallets and stealing their hard earned BTC. That’s number one.

Next, I read a story of how a man arranged to meet up with a buyer who wanted to buy his Bitcoins from him, and unfortunately, without him knowing it was a criminal, he ended up having all his bitcoins stolen at gunpoint. Sad story.
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January 10, 2018, 05:54:33 AM
 #1669

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 i think some goverments if they didnt control this cryptocurrency and also bitcoin they will need to do is they entering the bix tax on some sites trading sites or wallet like coinbase and other transactions.
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January 10, 2018, 06:46:33 AM
 #1670

Corruption can make it anywhere..
Corruption is a form of dishonest or unethical conduct by a person entrusted with a position of authority, often to acquire personal benefit. ...
In that meaning of corruption.
Maybe it will happen too in bitcoin industry by acquiring their personal interest are include in corruption.
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January 10, 2018, 07:07:15 AM
 #1671

Corruption can make it anywhere..
Corruption is a form of dishonest or unethical conduct by a person entrusted with a position of authority, often to acquire personal benefit. ...
In that meaning of corruption.
Maybe it will happen too in bitcoin industry by acquiring their personal interest are include in corruption.
The use of bitcoin for corruption is one of the major issues that governments are reluctant to accept using bitcoin in transactions and exchanges. It can be said that some countries in Asia have a lot of corruption in the state apparatus, so Asia has very few countries accepting bitcoins and other crypto coins, which is a disadvantage for early adopters private crypto in that country
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January 10, 2018, 07:10:05 AM
 #1672

Possible scenario would be like this... bitcoin can be used to hide laundered money.  No one will know as to who owns the account and who will question the source of money , because it is always possible to gain big profit if you really  understand  trading per se.
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January 10, 2018, 11:51:53 AM
 #1673

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?
Actually it is happening right now but not many people know about this. By just simply selling drugs to those druglord with the use of bitcoin is actually a corruption especially when that person is working on the government.
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January 10, 2018, 08:24:19 PM
 #1674

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 can also happen to bitcoin since the value it has is very expensive. It can occur anytime that's why we should analyze first the people we are sharing bitcoin with. If we are going to be careless on sharing our ideas, corruption will surely reign since the number of greedy people here is increasing. It is very important that we use bitcoin with discipline so that it will keep on reigning as the strongest cryptocurrency existing.
There is lot of type of people in life and everybody has its own way to use any product. And the world is too huge and lots of greedy people are stay here so we not blame Bitcoin the reason of corruption. Some people use Bitcoin to transfer funds through Bitcoin because we all know there are no extra taxes applies on Bitcoin. So that they use it for their black money but I think this the fault of government too if they legalize it in our country nobody can think to misuse of Bitcoin.   

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January 10, 2018, 08:34:21 PM
 #1675

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?

The classic functions of the state are poured out of the hands of officials around the world, like sand. Blockchain accelerates this process. Until recently, the state persistently retained a monopoly on social projects, violence and the printing of money. Print money and social functions are now under the impact of technology based on blockchain. On my mind it can`t

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January 10, 2018, 08:42:00 PM
 #1676

I think everything can lead to corruption. Bitcoin is currency, in short money and wherever there is money there is corruption.
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January 10, 2018, 08:43:32 PM
 #1677

i think there always gonna be corruption.bitcoin is just a digital =)
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January 11, 2018, 04:00:00 PM
 #1678

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?
Actually it is happening right now but not many people know about this. By just simply selling drugs to those druglord with the use of bitcoin is actually a corruption especially when that person is working on the government.
Not at all bitcoin is not involved in any kind of wrong or bad things but if someone is using bitcoin for bad things so they are doing wrong because when you study bitcoin so you will come to know about bitcoin that why it’s here bitcoin is here to help us in a short word I must say bitcoin is going to help humanity so we need to support bitcoin for needy people around the word and no need to issues bitcoin.

 
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January 11, 2018, 06:51:54 PM
 #1679

Naturally I am assuming that corruption has already took place, Bitcoin is something of value, a format and structure
of wealth in today's trend. With money and wealth, corruption is genuinely enticed and lured to this new untapped
potential. Unfortunately exploiting bitcoin's famed attributes like it's anonymity and decentralization has led some
criticisms and caught the awareness of some authorities and has been a subject of transgression due to it's ancillary
involvement in criminal and illegal transactions.
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January 29, 2018, 07:53:31 PM
 #1680

Indeed the anonymity that bitcoin applied in its technology could be exploited by irresponsible people like a corrupt person. However, we can see the benefits of the bitcoin applied blockchain technology that is a transparency so that if the government can work with bitcoin developers then the technology can prevent corruption in a country. So, bitcoin can be one solution to corruption in many countries
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