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Author Topic: Can Bitcoin also lead to corruption ?  (Read 50873 times)
Bitcoincole
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August 05, 2017, 08:35:04 AM
 #621

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?
Since we always said here that bitcoin is an open sources to anyone, it is also open for legal and illegal purposes but this will be depend on the
individuals to their own reason of how to use it. but I am hoping and wishing that majority of the bitcoin users will not abuse the usge of bitcoin.


I don't think bitcoiners can lead to corruptions thats how i wish cause every users have their different strategy of keeping their savings safe.
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August 05, 2017, 08:50:06 AM
 #622

I think that bitcoin has been used for a long time in corruption because of its anonymity and because of this it got quite good popularity and very rapid price growth despite the war.

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August 05, 2017, 09:45:08 AM
 #623

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?
Since we always said here that bitcoin is an open sources to anyone, it is also open for legal and illegal purposes but this will be depend on the
individuals to their own reason of how to use it. but I am hoping and wishing that majority of the bitcoin users will not abuse the usge of bitcoin.
Lol I think you can not forbid users to do anything with bitcoins. This is the dream of many people, they get their privacy and secrecy to make transactions. And whatever their purpose of using bitcoin, it is not wrong.. because that is the goal of decentralization and anonymity of bitcoin, for freedom
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August 05, 2017, 02:00:03 PM
 #624

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?

The fact that Bitcoin is a database and not anonymous, can help to fight corruption, because anyone can find out the transactions.

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August 05, 2017, 02:52:19 PM
 #625

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 my own opinion bitcoin can lead to corruption if the government are the one's who owns bitcoin and control bitcoin. But as of now, i know there are no kind of events here that there such people who corrupts bitcoin and take it away. And that is good to see that there are no such people who are planning to corrupt bitcoin.


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August 05, 2017, 03:17:22 PM
 #626

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've said it yourself, "Because of money, corruption can always happen with greedy people who always wants more money to them." and bitcoins are money. Of course it can lead to corruption.
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August 05, 2017, 03:24:47 PM
 #627

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?
Bitcoin already has lead to corruption if you didn't know. Even though not a lot of people know or use bitcoin, there are people who do corrupt things and I don't think that everyone involved in corruption can be stopped from doing even more . It's just seems a good and  easy way to earn money for them so why not go for it?


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August 05, 2017, 03:57:33 PM
 #628

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 ... Yes.

It is also used by cybercriminal, normal criminals, organizde crime and why not corruption.
But fiat is used for this too.

I believe BTC can be a global currency and it is much better than fiat, but this has nothing to do with the criminals using it.

And just a thinkabout you can kill someone with an axe but you could also have chopped a tree with it (always depends on the people).

[could be your ad]
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August 05, 2017, 04:13:43 PM
 #629

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 not because every transaction has the appropriate fee and each account always has its own key only the owner of the account to know. Therefore, corruption can not occur when transactions are saved and reconciled with customers

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August 09, 2017, 10:37:11 AM
 #630

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 has been in existence even before bitcoin has been introduced.Bitcoin has nothing to do with increase in corruption.Even if some people use bitcoins to give money to corrupted people,it could be easily traced since bitcoin is pseudo anonymous and all the transactions are registered in a public ledger.So instead,they may find it easy to use coins like monero or zcash for such purposes since they are pseudo anonymous.
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August 09, 2017, 01:56:16 PM
 #631

Bitcoin may cause corruption, if someone who has a greedy nature and wants to pursue the world's treasures alone.
So I think corruption can happen if the user is greedy.
If not greedy certainly there is no word corruption for bitcoin.
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August 09, 2017, 02:12:18 PM
 #632

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. Not now, but in the near future. I wouldn't mention Bitcoin only but other altcoin is also possible.
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August 09, 2017, 02:27:32 PM
 #633

No matter how much corruption invests, if the government begins to take action by freezing bitcoin exchange in that country and intimidating transaction access to the suspect's bank account.   Undecided
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August 09, 2017, 02:32:23 PM
 #634

Cheesy Cheesy Cheesy Cheesy
Can you help me understand more about this issue?
I feel it is a little confusing

In what part you are confuse at? You should be clear and precise on what part of this issue you are having some difficulties of understanding or joining the discussion. So if you will have sometime to learn bitcoin's history, it has been used by people who are hiding their transactions and identities and it's very possible that it can be used for corruption.
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August 09, 2017, 02:36:55 PM
 #635

This topic open my mind into possibilities. Have never thought about it but your right.
There is much more higher possibilities that this system can be poisoned by corruption.
Bitcoin as an anonymous transaction can give headache to this kind of criminal activities.
Can't elaborate more, for it is scary even just to think about it.
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August 09, 2017, 02:43:42 PM
 #636

This topic open my mind into possibilities. Have never thought about it but your right.
There is much more higher possibilities that this system can be poisoned by corruption.
Bitcoin as an anonymous transaction can give headache to this kind of criminal activities.
Can't elaborate more, for it is scary even just to think about it.
Yes its scary but its the reality and we cant do anything about it since bitcoin is anonymous and there would really be people who would really use it to hide the money that they do corrupt on other people money which is really a possible thing to do and would really be hardly to be traced. Bitcoin is also being used on making illegal transactions which we would really normally say that corruption would not be an exclusion on that one.


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stompix
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August 09, 2017, 02:54:56 PM
 #637

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?
Since we always said here that bitcoin is an open sources to anyone, it is also open for legal and illegal purposes but this will be depend on the
individuals to their own reason of how to use it. but I am hoping and wishing that majority of the bitcoin users will not abuse the usge of bitcoin.


I don't think bitcoiners can lead to corruptions thats how i wish cause every users have their different strategy of keeping their savings safe.

Of course bitcoiners can't lead to corruption.
The bitcoiners will be the ones doing the corruption.

Bitcoin is money, money will lead to corruption, bitcoin users are humans, corruption is in human nature ....
It's so obvious it;s nothing special.
Bitcoin, gold, diamonds,wheat euros or dollars.

speem28
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August 09, 2017, 03:11:02 PM
 #638

It is possible that someone is doing corruption with a digital currency such as bitcoin. You can corrupt and save money into bitcoins. No one knows that you are the owner of the money. Because the bitcoin is anonymous. I think a great way to get rid of your financial records is by turning them into bitcoins. Maybe if the corruptors know it they will save their money on bitcoin.
Recently there was a big news about the arrest of the BTC-e operator Alex Vinnik and the case is about the money laundering based on this link https://cointelegraph.com/news/us-government-seizes-russian-bitcoin-exchange-btc-e-domain.
That clearly says that bicoin was use for corruption like any other currency, but the thing is we are wrong on what we believe that it's anonymous because this shows a good example that you can be trace if you do illegal activities.
Well, that's a major upset for bitcoin, thinking that bitcoin's anonymity is just a sham. I know that bitcoin is pseudo- anonymous so by that I know that it is not 100% anonymous and can still be tracked in some way. I guess knowing that arrest with Alex might trigger more awareness and make corruptors more careful than ever. They will be smarter on how to hide their laundered money and keep on taking the advantage of bitcoin for themselves.

Singbatak
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August 09, 2017, 04:08:20 PM
 #639

Yes they also lead to corruptions.Fraud it like Corruption. And already happening now scam investment is a corruptions they hold our btc and promise they give back interest daily for ever investment then after a years or if the company get a trust for all peoples and get some billions of investment then they plan for a escape.  Like there are some hacking story that they lose money and cannot back. 
Bingooop
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August 09, 2017, 04:15:57 PM
 #640

I think there are a lot of definitions of the word corruption in the dictionary and I think, Bitcoin can lead to corruption based from the definition that I know. Corruption for me, is when people use something but that something is not for that people but for other purpose or other people, though in bitcoin it can be called on another word. For example, I am running a signature campaign, lets say it is A signature campaign. My campaign manager is X and been my partner for 6 years. I trusted him so much, that I put the whole 10 bitcoins to the address of the campaign. After that I didn't hear about him or what happened to my bitcoins, as far as I know, he run off with my bitcoins, and used it not the way it will be used.

You can just simplify it by saying, to exploit people and or do that is immoral. 



Definitely  anything that can bring power or trigger greed can corrupt people.  Bitcoin like money is no exemption.  Bitcoin can give people power, financial capability, and fame.  If a person cannot get enough of these with Bitcoins then he can turn into a corrupt person exploiting everything he can to get more of what Bitcoin offers.

In my opinion maybe it can open way to corruption but if any user is very alert and progressive then no-one can cheat him so it's like 50-50 chance of corruption to spread it's leg via bitcoins
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