Can Bitcoin also lead to corruption ?

[drachman]

It seems to me that the involvement of bitcoins for illegal activities and crime is rumors are deliberately spread by the government and banks. If bitcoin will continue their lives will change for the worse for their side. So they are waging an information campaign against bitcoin.

Of course, that is a deliberate attempt to try to weaken bitcoin, they know that even if they ban it people are going to keep using it so they are lost at what to do with it and how to stop its growth.

[Babyrica0226]

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 assessment on this, I do believed that bitcoin cannot lead people to corruption. Only the person has a capability to become corrupt now if ever He/She find out this  thing which is Bitcoin, that people can have an idea to use bitcoin a tool for them to corrupt to get something under the fund of the government.

[TagaMungkahi]

Yes, greediness can also lead to corruption, i've seen some reports here that show some people are creating another accounts because they are greedy of earning which may lead to corruption.  If a bitcoin will be implemented on a certain organization, greediness for bitcoin may lead to corruption.

[Farma]

probably not, but bitcoin can act as a money laundering place, because the transaction is very difficult to track. but, I guess, there's not much else to do about it. Today, people are focusing on investment. because bitcoin prices tend to rise.

[TagaMungkahi]

probably not, but bitcoin can act as a money laundering place, because the transaction is very difficult to track. but, I guess, there's not much else to do about it. Today, people are focusing on investment. because bitcoin prices tend to rise.

Difficult to track? Why i've read on some posters on other thread they said that bitcoin's security and privacy is not that good as of now? That an article realeased headlining that illegal users tend to discontinue using bitcoin because the transactions are now easily tracked?.

[Emitdama]

Lets hope that corrupt government official will not see the potential of Bitcoin to hide their stolen money from the government fund in Bitcoin. I believe some corrupt officials from many countries are hiding their moneys in form of Bitcoin. This is safer than saving their money in Bank.

Your hopes that should be avoided seems they are already aware on bitcoin existence and its capabilities on hiding corrupted money. I do strongly believe that this is already been doing by some officials specially who do have   knowledge on bitcoin.It cant really be avoided because anytime soon they will really discover this feature on what bitcoin has.

Haha! Grow up, mates. They are already using them for this purpose. They are always ahead of us in these activities. Bitcoins are used by all people who are having money by unfair means. This is really sad that people never let go any opportunity of misusing things. So shameful of these corrupt culprits!

Where do you guys come up with these questions? This is just some effort to create an activity on the Forum? Anything can lead to corruption and anything can lead to not creating corruption.

[Dezmond]

As a matter of fact, bitcoin was used to buy weapons, drugs, and so on. It was within the dark web. Only hackers knew about bitcoin. That's why, it should be within good hands.

[marcbitcoins]

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 corruption is very possible when the government start acknowledged that their currency to be use is now bitcoin. So from corrupting paper money it will shift to corrupting bitcoin. Anything can be corrupted as long as the greedy people are around specially in the government office. If they could corrupt sacks of rice and government medicines how much more if bitcoin will be our future currency replacing dollar.

[cramblimp]

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 that in bitcoin there is a corruption. Maybe there's none. It could be either scam. All managers here in this forum have their own perspective for the successful of their project and if corruption exists here maybe their project fail.

[wearepoor]

probably not, but bitcoin can act as a money laundering place, because the transaction is very difficult to track. but, I guess, there's not much else to do about it. Today, people are focusing on investment. because bitcoin prices tend to rise.

We can not deny the possibility of the corruption with help of bitcoins. People could use the bitcoins for taking bribes and to perform other illegal transactions and no one can stop them. But i think bitcoins should be use for good purpose and the criminals, corrupt people should stay away from the it and I know there is no way to stop them.

[Kiddy0831]

probably not, but bitcoin can act as a money laundering place, because the transaction is very difficult to track. but, I guess, there's not much else to do about it. Today, people are focusing on investment. because bitcoin prices tend to rise.

We can not deny the possibility of the corruption with help of bitcoins. People could use the bitcoins for taking bribes and to perform other illegal transactions and no one can stop them. But i think bitcoins should be use for good purpose and the criminals, corrupt people should stay away from the it and I know there is no way to stop them.

Yes it may happen, corruption is everywhere not only in the government officials. But for the corruption here is considered as scam.

[Cmoh]

Bitcoin can't lead to any corruption but it could diminish the corruption as every transaction is anonymous in the blockchain. But this feature could also give rise to anti-social activities. By using the Bitcoin anti-socials can make their payment freely without any legal restriction because no Govt. has the authority upon Bitcoin.

[basyang]

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 point of view, Yes Bitcoin can also lead to corruption not only in the government but there are people who will used it to there greedy things. There is a big possible to used it in that way because of it is not legal currency and many people can earn it and it also used in many things like transactions, investing, trading and so on.

[hyunee]

Just like what you said. In every organizations corruption is there. Corruption is everywhere. It is always depending on people. Well bitcoin is an organization where money involves. And people most likely are eager to gain profit from this organizations. There comes the tendencies that this people will tend to corruption. I know for sure that you know how money is equivalent to evil. But if people know how to manage money. I know they will use bitcoin for good.

[Sonin1944]

i believe so, simply because of the price of bitcoin and the federal government will start to undertake bitcoin as centralized currency and it would be constitutional forex.most of the government formal are corrupt they constantly get benefit of their placement to do illegal factor and to make them richer with the income of other folks.

[hasmukh_rawal]

Corruption is still in dilemma for me.Because it is Yes and No for me.It can be use in both the ways one to rise the corruption and another one is to decrease the corruption.I will show you two Faces of Bitcoin how it is corrupted and how it can be use to save from corruption with example of my country's corruption Process.

1) How Bitcoin is leading to Corruption in Indian Country.

The bitcoin’s popularity in India has grown after demonetisation. At the time of its announcement in November, the price of one bitcoin in India was $757. It was lingering between $866 and $896 during the early days of demonetisation. It reached $1,020 18 days after Prime Minister Narendra Modi announced demonetisation on November 8, 2016. The bitcoin was valued at around $770 in the US the same day.On May 2017, the market price of bitcoin in India reached $2,096.68. There has been a clear surge in bitcoin transactions after demonetisation.This is as a result of GoI’s demonetisation initiative,there is a flood of such digital transactions in the country.

All the credit goes to Bitcoin ( HITECH HAWALA SYSTEM).Let me tell you what is Hawala.Hawala is a system of transferring money and property in a parallel arrangement avoiding the traditional banking system. It is a simple way of money laundering and is banned in India. But a new hi-tech form of hawala has appeared in the form of digital currency, and that is  Bitcoin.This way Bitcoin is Leading the corruption in Indian Country.


2) Let us see how Bitcoin can reduce Corruption to some extent With Amith Nirgunarthy Beliefs  .


Amith Nirgunarthy, an American living in India, has started an blog called iHaveBitcoins.
I follow his blog regularly. His blog gives us all the Bitcoin related information and also i search some kind of Trading Advices for mjyself if there is anything.He is very Kind and humble person.

He believes that bitcoin could be used to reduce wrongdoing within the Indian government, saying:“If every single government subsidy program was given to the bitcoin protocol, there would be no corruption anymore.”Nirgunarthy is referring to the amount of waste he believes exists within the government’s programs for doling out food, electricity and fuel to the people.

If a system of accountability like the blockchain’s public ledger, or electronically signed ‘smart contracts’, were used in the country, these problems could be vastly reduced.

I am not having this article link but yes i have written some notes on this as per the blog key points.I hope this points might get you some notes of how BITCOIN can be both Dangerous and Fruitful to us.It totally depends on us and our country's politicians,and how do they Use bitcoin.[/u]

[Jaycee99]

No, 1000x no as I see it today. It depends on how bitcoins work but now don't be afraid just go and work hard to achieve what you want to reach.

[rocketbits]

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 that in bitcoin there is a corruption. Maybe there's none. It could be either scam. All managers here in this forum have their own perspective for the successful of their project and if corruption exists here maybe their project fail.

Bitcoins are very safe to sue and corruption is associated with them just by haters who can’t see bitcoins knocking out their shitty coins. Bitcoins are helping to improve the economies of the countries and here some dumb people are trying to make people scare of digital world and bitcoins by associating corruption with them.

[Mbah Djoko]

Yes of course, this is because bitcoin is anonymous so anyone who keeps money into bitcoin will not be tracked. for that it's time there is a special rule about bitcoin.

[Elcapsono]

The corruption leads to human greed, not bitcoin or any other currency. Corruption has existed for a very long time and it is almost impossible to eradicate it until people control their greed.