Can Bitcoin also lead to corruption ?

[Dudeperfect]

15 years ago peter used to criticize his friends face to face and those friends use to hit a tight punch in return, then 10 years later, peter found Orkut and he used it to criticize the same friends. Friends were unable to hit a punch on peter's face now.

How Orkut lead to the criticism? Same about bitcoin.

[sobsitesearch]

i think so, because of the value of bitcoin and the government will start to adopt bitcoin as centralized currency and it would be constitutional currency.
most of the government official are corrupt they always take advantage of their position to do illegal thing and to make them richer with the money of others.

[UCHCHILD]

I guess bitcoin is secure for corruption and how will corruption works here in the decebtralized system? I guess it is really diffult for corrupt people to fugure out on how to manage and manipulate and get bitcoin in such ways, unless crimes will be connected and so it is not corruption its a crime.
Because for me corruption is something that stole money without the notice of the public. That is how I look about corruption.

[salsa321]

Yes and that's for sure, we remember the past where bitcoin prices soared up in 2011, there are drug cartels buying bitcoin to launder their money, bitcoin prices are getting taller until finally the silk road comes up. The world's first tor market that provides online buying and selling of drugs and transactions using bitcoin as its currency. If a corrupt person thinks of saving his money into bitcoin, then it can happen and it is very sad

[nasipadang]

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 think can't because all bitcoin transactions already exist on the blockchain, they could be corrupt because a budget that should have been fixed be adding and engineered itself for a profit that is hard to see, whereas on the blockchain all transactions and the amount of transactions were true without engineering and everyone can see

[John777]

Yes and that's for sure, we remember the past where bitcoin prices soared up in 2011, there are drug cartels buying bitcoin to launder their money, bitcoin prices are getting taller until finally the silk road comes up. The world's first tor market that provides online buying and selling of drugs and transactions using bitcoin as its currency. If a corrupt person thinks of saving his money into bitcoin, then it can happen and it is very sad

Many launder their money through bitcoin or engage in illegal purchases, but this does not mean that everyone is so determined to use the crypto currency. Corruption can be with any currency.

[Japinat]

Yes and that's for sure, we remember the past where bitcoin prices soared up in 2011, there are drug cartels buying bitcoin to launder their money, bitcoin prices are getting taller until finally the silk road comes up. The world's first tor market that provides online buying and selling of drugs and transactions using bitcoin as its currency. If a corrupt person thinks of saving his money into bitcoin, then it can happen and it is very sad

Many launder their money through bitcoin or engage in illegal purchases, but this does not mean that everyone is so determined to use the crypto currency. Corruption can be with any currency.

It's a decision, every user has their own and even if with paper money money laundering is possible, there is nothing wrong with bitcoin, it simply shows how powerful the system is and because it's anonymous users has the confidence to use it at anything they like to.
The simple answer is yes it can lead to corruption but then again you cannot blame it to the currency itself, the person who is using shall be responsible.

[k@suy]

Of course, bitcoin can also lead to corruption as this is also good as cash or fiat money. People who has criminal minds are always looking a way how to make or hide their illegal transaction and bitcoin could be one of their possible option. There bare reports that this is used illegal activities already especially in dark web where someone can offer illegal services by accepting bitcoin as payment.

[Jewell]

Yes and that's for sure, we remember the past where bitcoin prices soared up in 2011, there are drug cartels buying bitcoin to launder their money, bitcoin prices are getting taller until finally the silk road comes up. The world's first tor market that provides online buying and selling of drugs and transactions using bitcoin as its currency. If a corrupt person thinks of saving his money into bitcoin, then it can happen and it is very sad

yes that can be right. i think not only bitcoin but all other fiat currencies including USD will be using for leading corruption. the criminal try to find out easy mean of corruption, but still i am hopeful that bitcoin may not be yet used for such kind of activities. and we are also hopeful that even in future bitcoin will be safe to be use for such criminal activities.

[Wipro]

Bitcoin is great for hiding funds and u can use mixers to retain anonymity so for now it does lead to corruption I think. In the future however if you pay someone in bitcoin you can demand and see proof of which addresses a business or politician sends funds to provided you know their original address.

Mixer use to split the bitcoin in multiple segment of pieces. This will shows anonymity of bitcoin transaction, but its  nothing will do for the  corruption. You need clearly understand that bitcoin is wil take out the corruption if it is been implemented as legal money then all would be under one ledger.

Right now too everything comes under one ledger, but you cannot track the end to end user who involved into the particular transaction. You could have transparency in the transaction and if the anonymity is lost its same as using our traditional fiat. Bitcoin doesn't lead to corruption, but the knowledge base of people make use of it for corruption as it gives ease of transaction and anonymity.

I mean, If any bitcoin address has been alloted for the Goverment tresure. Simply with that concern bitcoin address, we can backtrack the address means we can identify the amount transfer from the concern wallet. If the transaction been in the one pipeline, That's good for the government and corruption would not happen.
Bro, Even I said the same thing only, It won't lead the corruption.

[qiwoman2]

I think personally the blockchain can help eradicate corruption as it is a public ledger. I am hopeful that blockchain technology will be implemented in many governments around the world to get rid of corruption which is thew biggest problem plaguing our planet now financially.

[speem28]

Definitely Yes, it is not Bitcoin but the people handling bitcoin that creates corruption. Greed of money and power will make it corrupt.

All of the medium for transactions doesn't have something to do with bad transactions. But yes we are the ones that are making the decision if we are going to allow and let those mediums specific with bitcoin to use for corruption. Maybe in the future or at this moment there are corrupt people that are thinking about it already.

Government officials or businessman might already studying it now on how they will be able to do it.

Bitcoin is not so well known so I think for now there are still a few politicians who use bitcoin for tools as money launderers or corruption. Or I myself have never heard of it?

I doubt it, Bitcoin is almost known to every government in most countries. It is just that, not all government accepts bitcoin as whole so not so many know it yet. But I know that because almost all forms of organization or government in the world always care about their financials, I'm sure they've heard thing or two about bitcoin from somewhere at some point and is using it now.

[epitome]

i think so, because of the value of bitcoin and the government will start to adopt bitcoin as centralized currency and it would be constitutional currency.
most of the government official are corrupt they always take advantage of their position to do illegal thing and to make them richer with the money of others.

How can bitcoin be a constitutional currency when it is decentralized ,it is not the same like some of the alt coins,so it is impossible for any government to control it,they have to either understand the technology and starts accepting it rather than using random idioms to avoid regulating this.Will it lead to corruption,it can occur with any form ,real estate, fiat and so on,so that is not an excuse here.

[Pamadar]

Definitely Yes, it is not Bitcoin but the people handling bitcoin that creates corruption. Greed of money and power will make it corrupt.

All of the medium for transactions doesn't have something to do with bad transactions. But yes we are the ones that are making the decision if we are going to allow and let those mediums specific with bitcoin to use for corruption. Maybe in the future or at this moment there are corrupt people that are thinking about it already.

Government officials or businessman might already studying it now on how they will be able to do it.

Bitcoin is not so well known so I think for now there are still a few politicians who use bitcoin for tools as money launderers or corruption. Or I myself have never heard of it?

I doubt it, Bitcoin is almost known to every government in most countries. It is just that, not all government accepts bitcoin as whole so not so many know it yet. But I know that because almost all forms of organization or government in the world always care about their financials, I'm sure they've heard thing or two about bitcoin from somewhere at some point and is using it now.

yes indeed as we knew that every people who's in power will try to hide its wealthy and bitcoin is one of the best way to hide everything and with its popularity i doubt if politician will not be aware of it and use it for their benefits.

[CarnagexD]

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 it can. thats possible to happen because as like what you said bitcoin consider as a money and we all know that money is the main reason of corruption anywhere in the world. Im not going to be shocked if one day ill heard or read i in a news.

[Himanshu111]

Yes, you are correct absolutely. Bitcoin can lead to corruption as address of sender and receiver is anonymous which makes it one of the safest ways to transfer bribes.

[mharz]

Maybe, because if the policy or rules of the bitcoin can handled by the governments I think that is a disaster because if the government control the bitcoin I'm sure even a little bit earnings of bitcoin were adding taxes due to legalization of bitcoin given by the government.

[hurain]

Yes and that's for sure, we remember the past where bitcoin prices soared up in 2011, there are drug cartels buying bitcoin to launder their money, bitcoin prices are getting taller until finally the silk road comes up. The world's first tor market that provides online buying and selling of drugs and transactions using bitcoin as its currency. If a corrupt person thinks of saving his money into bitcoin, then it can happen and it is very sad

yes that can be right. i think not only bitcoin but all other fiat currencies including USD will be using for leading corruption. the criminal try to find out easy mean of corruption, but still i am hopeful that bitcoin may not be yet used for such kind of activities. and we are also hopeful that even in future bitcoin will be safe to be use for such criminal activities.

yes bitcoin is a normal curry and both the good and bad people have the option to use bitcoin, they can use it for both good and bad purposes just like other currencies that people are using for different activities. but still hopeful that most of the time bitcoin will be use for good purposes.

[Black House Up]

Bitcoin could help it, but I doubt it would be the sole cause of corruption...

[Celsiuss]

Corruption has always existed in the entire history. I doubt bitcoin will increase this somehow. It could maybe because of how easy and anonymous it is, but anything significant is unrealistic. People who does corruption, may prefer using bitcoin to stay anonymous, but still I don't think the amount of corruption will increase anyhow.