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Author Topic: Can Bitcoin also lead to corruption ?  (Read 50873 times)
leath08
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March 07, 2018, 06:22:25 PM
 #1741

Of course it can but there is corruption everywhere.
The governments have been trying to slowly get rid of cash, because they can't control it or tax it. Cash is used for illegal activities and corruption since forever.
But now Bitcoin has been created and is growing and becoming more widely used, its back fired on them. A currency that we can all use, that they can't tax, but now that want to ban it in certain countries or regulate it and they blame it on illegal activities or corruption.
Its bullshit its because they can't control us, they control us through money through banks.
It doesn't matter what they do, there will always be corruption.
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Partoney
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March 08, 2018, 02:21:10 AM
 #1742

What sort of debasements you are discussing? Influences? Illegal tax avoidance? Insider exchanging? Each and every one of those existed previously bitcoin and they will exist after it. In the event that bitcoin made being tainted simpler, so what? Web likewise made such a large number of wrongdoings conceivable. Individuals even can enlist contract killers from the web. Do we accuse the web for that? No. Each mechanical progression accompanies pros&cons.
gareng1468
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March 08, 2018, 02:49:09 AM
 #1743

because the current system and the excellent data confidentiality of bitcoin use can be used as a transaction tool for corruption crimes. why in some cryptocurrency states is not allowed to use because it can be used as an electronic transaction for crime. because it is easy to make some people take advantage of this system's sophistication.

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Piggymonster
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March 08, 2018, 04:24:34 AM
 #1744

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.

I agree with you, bitcoins could be the potential catalysts for corruption. Anyone can buy or sell anything with bitcoin and never be tracked, there's no one central bank monitoring the flow of debt and credit, let alone busted if they broke the law.

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chocomartin
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March 08, 2018, 04:41:01 AM
 #1745

Greed or the desire for more is part of being human regardless of currency or goods so bitcoin can't really be blamed directly. Greedy people are greedy regardless of form of currency. Although the decentralized nature of bitcoins does make it easier for greedy people to commit illegal transactions such as money laundering.
amih
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March 08, 2018, 05:03:43 AM
 #1746

I think bitcoin can not cause corruption and bitcoin will minimize the level of corruption because bitcoin uses blockhaind technology a platform that is a distributed ledger that allows digital assets to be traded safely and highly transparent. so corruption can not specifically be associated with bitcoin precisely the occurrence of corruption outside the bitcoin path but some people think that bitcoin can make corruption chances by money laundering and others I think it is wrong to assume it is just that today bitcoin has a very high asset value so every people can engage in investment or trading activities with great benefits.

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nuruljadidku
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March 08, 2018, 05:16:10 AM
 #1747

Money, It has good power and influence for people, they will do anything for it. If we talk about probability of corruption in bitcoin, of course it has potential to corrupt because bitcoin provides or even be the source to gain extra a lot of money. As you mention that people always aim to get extra money, and of course where there are a lot of money, there will be corruption.
Pier7
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March 08, 2018, 05:17:07 AM
 #1748

Bitcoins could be a medium for any illegal activities or corruption. Bitcoins are issued and managed without any central authority, there is no one in charge. Anyone with bitcoin can participate in the network, send and receive bitcoin. This makes it difficult to track the flow of funds, as well as stop a transaction if there is a suspicion of illegal activities.
mega sylviku
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March 08, 2018, 05:20:41 AM
 #1749

There are a lot of potential for corruption in bitcoin because it gives and provides the users extra money which can get easily. Corruption can not be separated from money.
money_amount
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March 08, 2018, 05:31:44 AM
 #1750

This can happen because.
- bitcoin is the investment market into without the investor's information.
- and this is a form of money laundering or money laundering that the government can not investigate.
genset88
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March 08, 2018, 05:38:51 AM
 #1751

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 be everywhere and even Bitcoin, I think people now live mainly because of money and where they can give them a lot of money they are willing to take, in many countries on Bitcoin is said to be a powerful and indispensable currency in the state, but so too are these countries more corrupt.

Findingnemo
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March 08, 2018, 05:50:45 AM
 #1752

This can happen because.
- bitcoin is the investment market into without the investor's information.
- and this is a form of money laundering or money laundering that the government can not investigate.

No bitcoin is not a lead for corruption and it can the next generations of money that’s all but some people misuse this playtform and use this as negative way but if you use this in right way you will get a good profits.

FUD Expert
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March 08, 2018, 06:14:27 AM
 #1753

For sure. With it's high risk/reward potential, those greedy officials from the government will get attracted and will secretly exchange the  project funds into bitcoin for their own gains.
ThunderCatSteve
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March 11, 2018, 03:47:51 PM
 #1754

Ofcourse there are corruption. As we all know bitcoin is now manipulated by group of people or country. For what i have read and see in some video presentation, chinise people almost owns the entire mining platform of bitcoin. Through this they can easily manipulate the dump or falling and pump or rising the price of bitcoins. Aside from the there are groups who are in collaboration in other altcoin for them to sell their coin to a much higher value. Thats why even though its hard to believe, its true bitcoin is already corrupted not only in mining but also in transaction. The fee is getting bigger and bigger, much bigger to what you sent hayz
Corruption totally depend on the person who is doing it. Bitcoin can play a vital role in the stabilizing and modernizing of people but it can't be said in case of corruption. Bitcoin is just a simple currency like the others  so it can be used any process, for good and bad both.

It depends on the user that for what aim or procedure he is using bitcoin. As bitcoin is a currency so I think that both good and bad kind of works can be done by bitcoin.
Xenoph0bia
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March 12, 2018, 05:12:10 PM
 #1755

Ofcourse there are corruption. As we all know bitcoin is now manipulated by group of people or country. For what i have read and see in some video presentation, chinise people almost owns the entire mining platform of bitcoin. Through this they can easily manipulate the dump or falling and pump or rising the price of bitcoins. Aside from the there are groups who are in collaboration in other altcoin for them to sell their coin to a much higher value. Thats why even though its hard to believe, its true bitcoin is already corrupted not only in mining but also in transaction. The fee is getting bigger and bigger, much bigger to what you sent hayz
Corruption totally depend on the person who is doing it. Bitcoin can play a vital role in the stabilizing and modernizing of people but it can't be said in case of corruption. Bitcoin is just a simple currency like the others  so it can be used any process, for good and bad both.

It depends on the user that for what aim or procedure he is using bitcoin. As bitcoin is a currency so I think that both good and bad kind of works can be done by bitcoin.
Yes definitely bitcoin will lead to corruption.Since it is decentralised,the central bank and the government does not have any account of it.Bitcoin can be stored in the bitcoin wallet.Only the donor and the receiver know about the transaction.Transactions are also very simple through bitcoin and any amount can be transferred within seconds.Taxes are also not implied on bitcoin so the person receives full amounts.It just requires an internet connection to get operated.
Akupuniard
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March 12, 2018, 05:44:35 PM
 #1756

Corruption and bitcoin, hmm.. it's impossible. I don't know who can get something from this, maybe developers but community will stop using bitcoin.

outsider99
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March 12, 2018, 05:45:52 PM
 #1757

Corruption with bitcoin is even more easy.There is no refund option with bitcoin so we cant get our stolen money  back if we didnt get colaterral or If he is maybe from same coutry like as and we can proof that but it is really hard to proof it.Also bitcoin is anonymously so nobody cant track it so it is easy for use for mafia.
I agree with you, because this bitcoin uses per to per-system and bitcoin transactions can not be tracked like any other ATM payment tool, it's very easy to do corruption like money laundering.
Jahson420
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March 12, 2018, 06:32:43 PM
 #1758

Yes it is possible to lead in corruption. Becuase people will not hesitate to take o steal the bitcoin because of his value. Any big amount of money it will lead corruption. Specially for those greddy person in money.
lanalang
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March 12, 2018, 09:02:32 PM
 #1759

Yes of course, anonymous becomes a haven for corruptors to hide their money so that no one can trace them. This is what many countries say so they do not accept bitcoin
genology
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March 12, 2018, 09:34:44 PM
 #1760

Anything handed up to us can lead to corruption. It is not Bitcoin's fault but ours. We are in-charge of our own behavior and we should not blame this cryptovurrency since it gives us benefits for our life.

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