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Author Topic: Can Bitcoin also lead to corruption ?  (Read 50426 times)
FasTroy
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April 11, 2017, 09:34:31 PM
 #21

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.
You are right, Corruption with bitcoin is easy as you said. So people can do a lot with cryptocurrency as it's not tracked and most bitcoin wallets without ID. So as a result you can control bitcoin as you want without any risk of use.

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April 11, 2017, 11:30:25 PM
 #22

Corruption can happened because of the person personality like greed or lack of moral, so it don't depends on the currency or the item, as long as the item is valuable, it can be used for corruption, but because bitcoin is hard to track I think it can be favourite currency to lead to corruption

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April 11, 2017, 11:34:00 PM
 #23

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?
Anything can lead to corruption, I don't know why this would be posed as a question. You can corrupt anyone with something they want, whether it be money or something else. It never has to be based entirely around money, or Bitcoin for this manner.

Bitcoin probably has more corruption potential than other mediums of value, but for now I'll try to be more idealistic than that.


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April 12, 2017, 12:09:47 AM
 #24

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?

For me, I think yes because eventhough bitcoin is a alternative money that many people use, it has a value that incrrasing. If a person fall in the stage of being greedy I think he will act something strangely of course to get many many bitcoin. Nothing will ever know because sometimes those people who are corrupt is the people who has a power in a certain country. Many people know that situation. So for me, It a yes!

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April 12, 2017, 12:30:38 AM
 #25

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?

For me, I think yes because eventhough bitcoin is a alternative money that many people use, it has a value that incrrasing. If a person fall in the stage of being greedy I think he will act something strangely of course to get many many bitcoin. Nothing will ever know because sometimes those people who are corrupt is the people who has a power in a certain country. Many people know that situation. So for me, It a yes!
I don't think so mate, people have power to make their btc intact in their online wallet and also bitcoin is not government regulated no politician can hold the bitcoin of each person or users. Even bitcoin will banned in your country you have an option to continue collecting using VPN to earn money or stop it because if you got caught you will be in jail.

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April 12, 2017, 12:35:15 AM
 #26

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?

Well, it is not bitcoin that leads to corruption in that case. It is people's greediness, which is innate and we cannot control.

People can use any currency to be corrupt. People use bank accounts, cash, gold, silver, wine, a whole range of things. Whatever they choose, it is their decision. It is not like the bitcoin community or satoshi suddenly just decides to promote bitcoin as a way to be corrupt.

But bitcoin is anonymous, making it easier for people to be corrupt over country borders. That would be true.

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April 12, 2017, 01:06:13 AM
 #27

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?

In theory it's the other way around. Since all transactions are public everyone can check where their goverments spend money, how much money is spent, the date,etc. It´s like an open book where everyone can check the public accounts.


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April 12, 2017, 04:01:11 AM
 #28

Bitcoin is considered money but this fact don't promote the corruption, humans will always be corrupt with any type of money doesn't matter if is a cryptocurrency or fiat, the problem is it bitcoin it's private itself and maybe can facilitate acts of corruption.

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April 12, 2017, 04:08:04 AM
 #29

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?

How!? May I know if corruption is only for government? And If they corrupt using bitcoin. How? We all know that when you send bitcoin you have TxId which is like an online receipt, so how they can corrupt in bitcoin ?


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April 12, 2017, 04:10:58 AM
 #30

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?
Basiccally yes it is can, because of bitcoin can be anonymous with bitcoin mixing service
although i don't agree if bitcoin be used for money laundering of corporations
because bitcoin can be considered as place of criminal, it will makes slow growing up bitcoin.


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April 12, 2017, 04:36:15 AM
 #31

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?

Well, it is not bitcoin that leads to corruption in that case. It is people's greediness, which is innate and we cannot control.

People can use any currency to be corrupt. People use bank accounts, cash, gold, silver, wine, a whole range of things. Whatever they choose, it is their decision. It is not like the bitcoin community or satoshi suddenly just decides to promote bitcoin as a way to be corrupt.

But bitcoin is anonymous, making it easier for people to be corrupt over country borders. That would be true.
yep bitcoin is not the lead to corruption but the people probably due to lack of need or lack of morals so that do anything to get money, bitcoin or valuable items is a means not lead.

but every bitcoin transaction recorded in the ledger blockchain I think it could be used as evidence but the problem is the difficulty of finding the owner of bitcoin wallet.

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April 12, 2017, 04:40:48 AM
 #32

Corruption of what? Bitcoin is only really used as the foundation for other block chain technologies, sot here is no risk of government corruption or the like... The smart contracts of the future from something like Ethereum are more likely to be used for corruption because they are more likely to have large organizations based on it.
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April 12, 2017, 04:47:24 AM
 #33

bitcoin is almost the same as gold, bitcoin is created with a fixed value. it is not possible if bitcoin be corrupt, but the possibility also dev corrupt elements within themselves.

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April 12, 2017, 04:47:39 AM
 #34

Its possible I mean Bitcoin has the features that people want to undectected. It is close to something what corrupt people want an example of it is like an offshore bank in which you can send money without other people knowing that it even existed. With Bitcoin no one can commect you to a certain address not unless you are careless enough to provide them your information which means they can monitor you from now on.

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April 12, 2017, 05:22:51 AM
 #35

bitcoin is almost the same as gold, bitcoin is created with a fixed value. it is not possible if bitcoin be corrupt, but the possibility also dev corrupt elements within themselves.
Bitcoin cannot be mentioned same as gold, in terms of pricing more or less equal right now. When we talk about the acceptance bitcoin is far away from gold. Only the technically aspirant users give importance to bitcoin than gold and profiting much out of it than profiting from gold.

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April 12, 2017, 05:33:49 AM
 #36

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 just have a feeling that this has not been yet discovered by the most corrupted governments... they are still doing the corruptions in the more traditional ways, because so far have not heard of much controversy or headline regarding this.
But yes, this will be one of the most powerful mediums of corruption.  
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April 12, 2017, 05:45:44 AM
 #37

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 found in every aspect of this society we live in, that has nothing with bitcoin or any other currency, in any case currencies are just instrumentality of corruption. We know that good can also be used for corruption, you can give someone a house, or gold, car, what ever and that is instrumentality for corruption on any level. Difference between corruption levels is just in value.
I think that social status, and big wishes of single person can lead to corruption, poor people can be corrupted more easily I guess, and people who wish a lot and don`t have it are more likely to accept dirty money and do some favor for that cause they wish more then they have.

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April 12, 2017, 05:47:06 AM
 #38

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?
It can be really used to corruption since we do all know bitcoin is decentralized and difficult to track it out whose the owner of that wallet and lets say a particular government official decide to corrupt then decide to put all his money that he stolen to bitcoin then it would really do and hard to trace him up but still an official can be traced its transaction not on bitcoin world but on local fiat regulation itself.

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April 12, 2017, 05:51:24 AM
 #39

Bitcoin is just like money . In corruption money ie cash is offered so instead of giving cash Bitcoin is transferred from one party to other on the given address . Well here internationally money can be easily transferred via Btc .

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April 12, 2017, 05:53:43 AM
 #40

First of all what is corruption?

Quote
dishonest or fraudulent conduct by those in power, typically involving bribery
Bitcoin can be a tool for corruption. But corrupting it is impossible. They might do it with website wallets or they could just make a law that will specialized with bitcoin transactions. But that would take a lot of work.

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