Can Bitcoin also lead to corruption ?

[Freezingel]

Bitcoin doesn't lead to growth. It's purely comes from the person morality. Whether people corrupt or not isn't caused by bitcoin. Bitcoin is just another medium to move the stolen money. If the person himself involves in corruption, he will keep doing that whether bitcoin exist or not.

[Flodemaga]

Bitcoin isnt different from fiat, if the person does wanna to steal money, there are a lot pyramids using bitcoin soo this is already happening for a while, besides those lets take a look at the shitty Ico that always come and steal your money, and the developers just dump their coins and left.

[PancherBitCoin]

The phrase to root out corruption involuntarily makes me laugh. You just can not imagine that those corrupt officials who do not give the state to develop. They want to know about the advantages of Bitcoin, then everyone would invest their own money in the crypto currency. You understand that Bitcoin is able to hide all the money obtained illegally And even more so to avoid paying taxes. Many officials dream of clearing their income declaration and hiding their money.

[zedicus]

Yes i think so it may lead to that if big holders will manipulate and control bitcoins price in the market,also if the network itself face some errors or intentionally dhut down the system and collect all bitcoins of all users.If government regulated bitcoins may be an issue to

[flipstyle]

Of course it can lead to corruption as its an decentralized currency and no one can have control on it so no one would know who is transacting and in that case it can be used for corrupted activities.

[radjie]

It could happen because corrupt people are always looking for ways to hide money from corruption so it's hard to know then with bitcoin people who are corrupt will very easily save their money to be bitcoin as an investment.

[nethead]

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

[zidanw]

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'm not sure about that, bitcoin has a big book that records all the bitcoin transactions so evidence for acts of corruption is very obvious, entering the network of suspected corrupt people whether he ever accesses about bitcoin and uses it.

[ridhobagus2308]

Yes, bitcoin can lead people who corrupt to hide his money in bitcoin or cryptocurrency, its some bad news from bitcoin.

[mirakal]

Yes, bitcoin can lead people who corrupt to hide his money in bitcoin or cryptocurrency, its some bad news from bitcoin.

They cannot hide, because you cannot own a big volume of bitcoins without buying it, that transaction alone has already a trail for audit of your transaction and FYI most exchanges are legitimate and they have to register their business and wait for the approval of the government before they can operate. With that, they are govern by the government and if you are in the watch list you can surely be trace with all your transactions.

[arcanayou]

It's possible, we've heard of the use of bitcoin for the sale and purchase of drugs. For corruption is very possible to use bitcoin, we can hide the results of corruption in the form of bitcoin and save it, but it all depends on moral, moral issues, not about bitcoin

[streazight]

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, anything which matters as money can lead to corruption for sure. But for that bitcoin cannot be blamed. Corruption can happen with any currency, be it flat or digital. Though governments and politicians would like to associate bitcoin with easy corruption citing annominity, the best part in bitcoin is, it is not truly anonymous unlike flat currencies.

[hinatashoyou]

It is very easy to create and hide the proceeds of crime with bitcoin, indeed this issue is enough to make bitcoin banned in some countries. Many thought bitcoin to be a good place for corruption, embezzlement and money laundering. It could happen, depending on how the policy will be taken by the government

[speem28]

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.

How can blockchain eradicate corruption in bitcoin? Yes, blockchain is an open ledger that stores the records of each transaction permanently, but I thought that the identity of those who made that transactions are anonymous? and only their address and time of the transaction are recorded?

[chalkboard17]

Why? I do not know why people here are expecting for a huge corruption which is caused by bitcoin. Bitcoin is not made for this purpose and it was made in order to make the world better. Therefore, stop making joke about bitcoin, please

[zeze18]

Why? I do not know why people here are expecting for a huge corruption which is caused by bitcoin. Bitcoin is not made for this purpose and it was made in order to make the world better. Therefore, stop making joke about bitcoin, please

I agree with you that bitcoin is an innovation built with good systems and security, and certainly has a vision and mission that benefits its users in various countries,and about corruption will have no relevance to bitcoin because corruption is a crime that will hurt many people, while Bitcoin is a digital object that has a function equivalent to real money.

[czvezda]

Noo bitcoin is currency where you can only use to internet but if government used this bitcoin currency for them to stock their money maybe? Than using their own bank account where they can hide those billions transaction that they corrupt from people, It depends if they will used bitcoin or not its their choice not us

[radamiel]

Corruption is a mental illness, difficult to cure. Indeed bitcoin may be used for corruption or money launderers. In fact many things can be a place for corruption, not just bitcoins, gold, stocks, property can be a tool for corruption

[revans]

For sure yes. You have given yourself the answer. Bitcoin can lead to corruption even more than the other currencies because of its characteristics. The other currencies are much more controllable than bitcoin. So the corrupted people will love to be paid with bitcoin.

[IdVerification]

Corrupt Governments Tend to Declare Bitcoin Illegal: Analysis
posted: 7/17/2017
https://cointelegraph.com/news/corrupt-governments-tend-to-declare-bitcoin-illegal-analysis

It would make sense that governments with increased corruption would be interested in increased bitcoin control.