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Author Topic: Can Bitcoin also lead to corruption ?  (Read 50873 times)
crazycatwoman03
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July 23, 2017, 04:47:39 AM
 #541

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?
If the government control the bitcoin, there are many possibilities that the bitcoin lead to corruption but the government cannot control the bitcoin so there is no corruption that will happen.

I agree with that, it is possible that bitcoin can also lead to corruption, just like the other regular currencies, if ever the government decided to recognize and used it also. Even if the use of bitcoin is anonymous, it is not impossible for those greedy people to make it happen. I also believe that their greediness will pushed and drove them to find a way.

We know how powerful bitcoin is, the usage of it, even if it is still limited, has led many people to gain more than they can on depending at regular currencies. The investment in bitcoin and other tokens in the crypto world had led many people to have what they always wanted and to fulfill their dreams.

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July 23, 2017, 03:00:28 PM
 #542

actually no. think a bitcoin is a type of money . and bitcoin is a money that you can hide. so they are just using bitcoin to hide money but you can use it and a different ways lets say bitcoin is more complex than paper money. . . and money its not corrupt bitcoin its the same. government. power. sovereignty .people its not corrupt its the people sit down  in high position its corrupt. sorry for the grammar.

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July 23, 2017, 05:21:49 PM
 #543

it is totally dependent on the user of Bitcoin. a currency can be used at everywhere. it can not use along, it is used by some body. so there is a way to use in any illegal process. if someone wants to pay any illegal payment through Bitcoin then how can you prevent it from doing that work. there is no preventive measure to keep it clean from any illegal activities.
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July 23, 2017, 07:24:33 PM
 #544

actually no. think a bitcoin is a type of money . and bitcoin is a money that you can hide. so they are just using bitcoin to hide money but you can use it and a different ways lets say bitcoin is more complex than paper money. . . and money its not corrupt bitcoin its the same. government. power. sovereignty .people its not corrupt its the people sit down  in high position its corrupt. sorry for the grammar.
Fiat may not just been hidden in crypto-currency, but it may also been transferred in it as a bribe. Add to that there is such coins which road and holders can't be disclosed. That makes Bitcoin and digital currencies in general very attracted for corrupted individuals.
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July 23, 2017, 11:20:04 PM
 #545

it is totally dependent on the user of Bitcoin. a currency can be used at everywhere. it can not use along, it is used by some body. so there is a way to use in any illegal process. if someone wants to pay any illegal payment through Bitcoin then how can you prevent it from doing that work. there is no preventive measure to keep it clean from any illegal activities.
yes that is right i think different people have different strategies, may be there are some people who have some illegal activities and therefore they may be using gambling for illegal purposes, but i think still the majority of people are using bitcoin for legal activities. just like other currencies as majority of people are using it legally but some people may also be using it for illegal purposes.
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July 23, 2017, 11:30:44 PM
 #546

it is totally dependent on the user of Bitcoin. a currency can be used at everywhere. it can not use along, it is used by some body. so there is a way to use in any illegal process. if someone wants to pay any illegal payment through Bitcoin then how can you prevent it from doing that work. there is no preventive measure to keep it clean from any illegal activities.
yes that is right i think different people have different strategies, may be there are some people who have some illegal activities and therefore they may be using gambling for illegal purposes, but i think still the majority of people are using bitcoin for legal activities. just like other currencies as majority of people are using it legally but some people may also be using it for illegal purposes.

Bitcoin is rarely used by criminals, that is proven by some European these month. So, I think bitcoin is not used that much on corruption, money laundering and other stuff pertaining to crime and corruption. Also, it depends upon you because it is also connected on how will you define corruption.
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July 23, 2017, 11:40:32 PM
 #547

actually no. think a bitcoin is a type of money . and bitcoin is a money that you can hide. so they are just using bitcoin to hide money but you can use it and a different ways lets say bitcoin is more complex than paper money. . . and money its not corrupt bitcoin its the same. government. power. sovereignty .people its not corrupt its the people sit down  in high position its corrupt. sorry for the grammar.
That's the point? You can hide your money in bitcoin, this could be called money laundering, maybe there will be many corruptors who will wash their money in bitcoin so there is no evidence that they are corrupt and certainly in bitcoin will be very safe because it is anonymous and decentralized
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July 24, 2017, 12:34:29 AM
 #548

Yes it can also lead to corruption, there is no doubt on bitcoin that can cause corruption. But right now i'm thinking how it will be executed? How will corruption emerge from bitcoin?. Maybe if government will regulate bitcoin , i think the corruption will start from here, as we know bitcoin hold a large amount of value, just like money that lead to corruption as bitcoin as a crypto-money, there is no doubt that from there reason, corruption will emerge because of bitcoin and government regulation.
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July 24, 2017, 09:21:01 AM
 #549

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?

You answered your own question, there is corruption everywhere. Bitcoin is just a tool that could be used for corrupt practices by corrupt individual. The same individuals could also use FIAT to carry out their schemes. Bitcoin cannot lead to corrupt practices.
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July 24, 2017, 09:48:25 AM
 #550

Through anything anyone can corrupt, but in bitcoin will be quite difficult to do corruption, because transactions and history that we do all recorded, may make corruption becomes difficult

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July 24, 2017, 10:04:14 AM
 #551

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?
A big NO .Perhaps it also money but exist in internet once they legalize the use of it they can put taxes .Bitcoins can end up corruption it owned by individual and can buy things in the future online by using it .


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July 24, 2017, 11:33:38 AM
 #552

Bitcoin is exactly the same currency as all the others only exist in electronic form and anonymity will be more convenient for the development of corruption. Everything that is of value can be used for corruption.

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July 24, 2017, 12:01:26 PM
 #553

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 normal money,bitcoin could also be used to provide money to corrupted people.No need to carry money,no need for bank transactions,no fear about transactions being traced while using bitcoins for corruption.But bitcoin could not be blamed for corruption.Its totally dependent upon the person whether he uses bitcoin for productive purpose or for corruption.
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July 24, 2017, 12:40:31 PM
 #554

Bitcoin is exactly the same currency as all the others only exist in electronic form and anonymity will be more convenient for the development of corruption. Everything that is of value can be used for corruption.
That's true, bitcoin is a special kind of currency because it's decentralized the value is growing especially now that it's very popular.
Anyone who believe in the potential of bitcoin will always accept it as a payment regardless of the purpose and since it has value it can be used in any transaction online, sadly it's not exemption for being use in illegal activities.

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July 24, 2017, 02:13:32 PM
 #555

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 you say corruption is indeed everywhere and with bitcoins, these corrupt persons have the ideal way to steal, loot and plunder without being caught at all, Once physical cash is used to purchase bitcoins, there will no paper trails to follow especially if the person covers his or her tracks very well.Money whether physical or virtual can lead to corruption.

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July 24, 2017, 06:04:18 PM
 #556

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 you say corruption is indeed everywhere and with bitcoins, these corrupt persons have the ideal way to steal, loot and plunder without being caught at all, Once physical cash is used to purchase bitcoins, there will no paper trails to follow especially if the person covers his or her tracks very well.Money whether physical or virtual can lead to corruption.
Only the awareness of the bottom of the heart that can prevent corruption, corruption is really rampant, they do it as if never guilty, I really hate the corruptors, if they can be killed, I will definitely kill him

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July 24, 2017, 09:00:28 PM
 #557

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 you say corruption is indeed everywhere and with bitcoins, these corrupt persons have the ideal way to steal, loot and plunder without being caught at all, Once physical cash is used to purchase bitcoins, there will no paper trails to follow especially if the person covers his or her tracks very well.Money whether physical or virtual can lead to corruption.
Only the awareness of the bottom of the heart that can prevent corruption, corruption is really rampant, they do it as if never guilty, I really hate the corruptors, if they can be killed, I will definitely kill him
yes i gree because these said corruptors is like a robbery.or a thief they get the money from the tax of the people then put it in thier own pocket.so instead of spreading some of the benefits in a country.there are nothing left in the taxes box to use for .it can be a verry worst government if the be holder of the possition is a corruptors.

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Osarman
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July 24, 2017, 10:31:32 PM
 #558

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?
As what you say corruption is everywhere it is driven by greed. But luckily bitcoin is decentralized which means no banks are involved, banks are also corrupt for my opinion.  I don't think that corruption is involved yet to bitcoins or any other coins, maybe the maker or something. But lets hope corruption will not occur in this industry.

I agree, due to bitcoin being decentralized, the government has no means of intervening the market thus, lowering the potential chance of corruption. But since the price of bitcoins are highly volatile, corruption is still inevitable. Not to mention, due to the identities of people being unknown when transacting, this can also lead to illegal trading and transactions (i.e. money laundering, providing funds to criminal activities, etc.).

You're funny. Really.
How does a decentralized currency lower corruption?

Will officials stop taking bribes cause of it? Will they stop awarding fake contracts, hiring their relatives and so on?

Bitcoin will do nothing against corruption.
It actually may encourage since as I would do, officials will have a qr code on their desk and when you come in they point at the code with a wink.
How are the police going to prove the official took the bribe and that he is in control of the bitcoins received?


I agree with you. Bitcoins are just a digital currency. Its misuse depends on the users. We are responsible for using it in evil deed than bitcoin itself. Bitcoin does offer liberty of using one’s money but violation of that liberty is not the fault of bitcoins. The problem is absolutely on the part of users. If someone is taking bribe in paper money, he/she can take in bitcoins as well.
mharz
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July 24, 2017, 10:41:17 PM
 #559

Bitcoin were lead corruption if there's a government involve, but for now I was fully trust that there's no anomalies happen in bitcoin. Moreover bitcoin exchanged in market now was good and fair so we have no worries about our investment.
malikusama
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July 25, 2017, 04:27:39 AM
 #560

Yes it can, because all the transactions of bitcoin are anonymous and the corrupt people needs such type of platform to save their black money and to transfer them anywhere without taxes and without government consideration. Everything can be use either in positive of negative way, this is the negative use of bitcoin to do corruption.
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