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Author Topic: Can Bitcoin also lead to corruption ?  (Read 50873 times)
reuschman
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May 21, 2017, 03:26:00 AM
 #361

Everything can be used regarding corruption, it depends on its user, if you have some altcoin then you can do anything. You can pay to the drug dealer, you can pay to trafficking, you can pay to as a bribe.
So everything can be dependent on user how they use it.
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May 21, 2017, 03:28:13 AM
 #362

No, Because bitcoin is a digital currency that has transparent transactions. So, I believe and I think that bitcoin cannot be used as a tool for corruption.
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May 23, 2017, 12:18:51 PM
 #363

No, Because bitcoin is a digital currency that has transparent transactions. So, I believe and I think that bitcoin cannot be used as a tool for corruption.

asong as it. an be manipulated, it can be prone to corruption. there are whales that have large numbers of btc that can manipulate the movement of btc and if they want to, it can be corrupted. everything can lead to curruption as long as there are powerful people that succumb to greed

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May 23, 2017, 12:27:28 PM
 #364

A huge big and the most well knowned cryptocurrency in our cryptomarket now may also lead to corruptions by the holders of the bitcoins wallet and the main bitcoins network itself,they can easily manipulate our bitcoins if they want to
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May 23, 2017, 01:05:03 PM
 #365

A huge big and the most well knowned cryptocurrency in our cryptomarket now may also lead to corruptions by the holders of the bitcoins wallet and the main bitcoins network itself,they can easily manipulate our bitcoins if they want to
We keep hearing that stories that whales can manipulate bitcoin but would that lead to a negative outcome? No, bitcoin is currently on a pump situation and I cannot believe it rises this big because I only have a conservative projection this year to at least double by the end of year but it came too early.
Anything can be use to corruption because it is just a tool, users have different purpose (good or bad) but that is their responsibility and they will face the consequences.

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May 23, 2017, 04:37:04 PM
 #366

A huge big and the most well knowned cryptocurrency in our cryptomarket now may also lead to corruptions by the holders of the bitcoins wallet and the main bitcoins network itself,they can easily manipulate our bitcoins if they want to
How they can manipulate bitcoin when they don't know who else holders of tons of bitcoin in this world. Also government is using bitcoin for their private transaction maybe they are the one who is leading corruption on each country that they leading. What can you say about this thought?

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May 23, 2017, 05:44:58 PM
 #367

A huge big and the most well knowned cryptocurrency in our cryptomarket now may also lead to corruptions by the holders of the bitcoins wallet and the main bitcoins network itself,they can easily manipulate our bitcoins if they want to
How they can manipulate bitcoin when they don't know who else holders of tons of bitcoin in this world. Also government is using bitcoin for their private transaction maybe they are the one who is leading corruption on each country that they leading. What can you say about this thought?
Yes all politicians are investing their black money in this bitcoin. no one can track this, and it is a safe method to save black money. But I have one doubt is there any people that they will buy bitcoins for hand to hand cash? If this facility is there, then there is a possibility are there to save black money in bitcoin. If it is not there, we have to convert BTC in online only, and the amount will deposit our account means it is not possible.
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May 23, 2017, 06:16:39 PM
Last edit: May 23, 2017, 06:41:25 PM by deisik
 #368

A huge big and the most well knowned cryptocurrency in our cryptomarket now may also lead to corruptions by the holders of the bitcoins wallet and the main bitcoins network itself,they can easily manipulate our bitcoins if they want to
We keep hearing that stories that whales can manipulate bitcoin but would that lead to a negative outcome? No, bitcoin is currently on a pump situation and I cannot believe it rises this big because I only have a conservative projection this year to at least double by the end of year but it came too early

I think that yes, it could lead to negative consequences, and, ironically, in pretty much the same way as actual corruption does. In general, corruption means is an unlawful conduct aimed at acquiring personal benefits. There is nothing wrong in acquiring personal benefits in trading (these benefits would be represented by profits earned), but only as long as you earn them in a free competition (i.e. by following the laws which all market participants should follow). But this is exactly what Bitcoin manipulation ruins! Basically, it turns a free market into a manipulated market

In other words, Bitcoin manipulation leads to Bitcoin itself being corrupted

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May 23, 2017, 06:41:48 PM
 #369

Definitely Yes, it is not Bitcoin but the people handling bitcoin that creates corruption. Greed of money and power will make it corrupt.
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May 23, 2017, 08:49:56 PM
 #370

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?
Just like of what you have said "We all know that there is corruption everywhere", so it is not impossible that in bitcoin corruption will exist. There are a lot of genius person nowadays so they can find ways and besides at this generation impossible is now possible.

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May 23, 2017, 09:48:58 PM
 #371

i wonder why bitcoin always be linked with things that are not good such as corruption, money laundering or drugs but in this case in my point of view bitcoin cannot lead people to corruption because it all pure from the bottom of their heart to starting corruption but indeed bitcoin could be the tool to storing corruption money

Its far easy to launder money with bitcoins and crypto currency than with other means, But bitcoins is not why people are doing such things, corruption stems from greed and that's where it all begins.



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May 23, 2017, 09:59:50 PM
 #372

No, Because bitcoin is a digital currency that has transparent transactions. So, I believe and I think that bitcoin cannot be used as a tool for corruption.
Yes that is right the corruption is not possible with bitcoin as all the details of transfer of money will be available in the addresses of transactions of bitcoins and no one will be able to not see that how much is spend on what thing in a particular state.
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May 23, 2017, 10:22:35 PM
 #373

No, Because bitcoin is a digital currency that has transparent transactions. So, I believe and I think that bitcoin cannot be used as a tool for corruption.
Yes that is right the corruption is not possible with bitcoin as all the details of transfer of money will be available in the addresses of transactions of bitcoins and no one will be able to not see that how much is spend on what thing in a particular state.

It is possible if they will have a lots of wallet and only declare one ,it may seem that their wallet is like a bank. Though knowing that btc is not yet that known in our government then corruption in btc is not applicable.

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May 23, 2017, 10:35:49 PM
 #374

The majority of corrupt people who in his life has made a good career and now convert their opportunities in the power in personal gain. They don't trust bitcoin, and prefer to earn bribes in the traditional currencies. At the moment, the corrupt officials generally are free to take bribes in bitcoin and this will not be considered a bribe since bitcoin does not have the status of money, but they are not ready for it mentally.
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May 23, 2017, 11:32:01 PM
 #375

Yes it is, because of being pseudonymous by bitcoin the identity of individuals was unknown. And because of that matter
those people who are greed take advantage of it to get profit of bitcoin which is not supposed to be happen and abuse as much
as possible.

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secdark
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May 24, 2017, 02:09:43 AM
 #376

No, Because bitcoin is a digital currency that has transparent transactions. So, I believe and I think that bitcoin cannot be used as a tool for corruption.
Yes that is right the corruption is not possible with bitcoin as all the details of transfer of money will be available in the addresses of transactions of bitcoins and no one will be able to not see that how much is spend on what thing in a particular state.

It is possible if they will have a lots of wallet and only declare one ,it may seem that their wallet is like a bank. Though knowing that btc is not yet that known in our government then corruption in btc is not applicable.

Corruption is not all about in government it also happens with us, in a group of person like you have shares on a business and the holder of your money in btc will be corrupting all of the partners without knowing. Corruptions starts withour self it is not all about government it starts with our self



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radjie
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May 24, 2017, 02:32:23 AM
 #377

It could happen because the character of a person is different, With the intention of cheating someone for wanting to get abundant results everything he would do including cheats.
They create a site with rules in which the user should invest on the site, But after successfully collecting users to invest the site is lost somewhere, Then it brings a certain amount of user money that has been invested but the site brings the money away so that it leads to corruption.

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speem28
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May 24, 2017, 08:04:27 AM
 #378

With bitcoin we can hide money unbeknownst to anyone, and I'm sure many a corrupter switched their money out of Panama banks to bitcoin, its impact is the price of the bitcoin continues to rise.

Let me make this clear. Bitcoin does not lead to corruption but rather it is the greed of people that will lead any kind of currency being used to corruption and bitcoin is not exemption. Greed is the cause of corruption and all currencies including bitcoins will be use for that purposes. As long as people are greedy and corrupt then all financial systems in the world is also tainted by corruption.
Well, greediness is one factor that leads people to corruption but what I mean here in my topic is that if bitcoin can lead to corruption as a whole not just as a currency. I mean we all know the great features of bitcoin like its anonymity, easy transaction and no entity or organization that controls bitcoin. All these features tend to attract greedy people to somewhat use it as a means of hiding their laundered or corrupted money right?

speem28
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May 24, 2017, 08:20:40 AM
 #379

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 don’t think corruption is easier with bitcoin since your transactions are very easy to track unlike what you can do with cash that is completely anonymous, so I think you are mistaken on that.
You got it all wrong pal, you're a member now and I find it hard to believe that you still don't know that transaction in bitcoin is anonymous. You should know the basic information about bitcoin to start with and since you're a member I'm sure that you encounter or read some post that bitcoin is not what you say it is, rather it is completely the opposite.

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May 24, 2017, 08:24:10 AM
 #380

It could happen because the character of a person is different, With the intention of cheating someone for wanting to get abundant results everything he would do including cheats.
They create a site with rules in which the user should invest on the site, But after successfully collecting users to invest the site is lost somewhere, Then it brings a certain amount of user money that has been invested but the site brings the money away so that it leads to corruption.

This is a fraudulent scheme, which is mainly conducted by newcomers for the purpose of rapid enrichment and bitcoin with the help of its anonymity contributes to the development of this direction.

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