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Author Topic: Can Bitcoin also lead to corruption ?  (Read 50880 times)
faceoff97
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September 22, 2017, 01:10:51 AM
 #861

Honesty saying, bitcoin was made to handle and control your wealth without anyone's intervention. Thus, thua only mean that it can be used in whatever purpose you want even corruption. This would be easiest way to make some hidden wealth which most politician really does.if politician easily do corruption with the normal currency how much more with crypto. The truth is, bitcoin might be even used for drugs and other illegl activity. 
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September 22, 2017, 01:27:49 AM
 #862

Of course, Indeed it will lead to corruption, Greediness can also lead to corruption. Bitcoin has a value, it is a money, a currency. corruption can also happen between each bitcoin enthusiasts and Bitcoin developer or into bitcoin system, We really don't know. But the thing here is that you should know that bitcoin is a currency and any currency has an issue on corruption WHICH MEANS, Bitcoin can surely lead to corruption.
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September 22, 2017, 01:39:37 AM
 #863

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 don't think so because it depends on the people if he/she will do something for her/his money that will lead him/her to become corrupt and if all of his acts will somehow become negative in a way that it is not good and worst in holding a money. Too much greediness will result to corruption and other negative acts.

 
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September 22, 2017, 11:37:26 AM
 #864

Bitcoin is a type of currency, and any type of currency can lead to corruption, so yeah bitcoin also may lead to corruption Sad
Bitcoin is not using for corruption because bitcoin is decentralized everybody can use bitcoin so it is not new that bitcoin or we can mention that bitcoin is using for money corruption.
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September 22, 2017, 11:51:44 AM
 #865

I've never heard of cases of bribes in bitcoins. Corrupt officials may hide their fortune in bitcoins, but that's another issue. Such statements of the government to turn public opinion in order to advance to the attack on cryptocurrencies.
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September 22, 2017, 12:44:31 PM
 #866

as far as I know that what raises money is certainly corruption too, because now there are many people who are greedy for money, such as the part of government who sometimes do krupsi without seeing the people around him who are less able and sometimes can not eat because do not have money . it's best if we know the less fortunate people we should help him instead of doing the corruption that keeps nervous the citizens.
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September 22, 2017, 02:19:08 PM
 #867

Due to pseudo anonymous nature of Bitcoin it is quiet easy to get ill gained money as no one knows who the sender is and who the recipient is. So the process of finding out about the details of the person is quiet difficult to close to impossible. So for a corrupt person accepting money in Bitcoin is pretty easy as there are no banks required to accept payments in Bitcoin and a person can have unlimited Bitcoin addresses, so no two addresses can be linked if he take care while using each address.
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September 22, 2017, 02:58:57 PM
 #868

Corruption is an issue that will always emerge when it comes to any kind of currency, it is the responsibility of those running the different platforms and providing the different services to ensure the correct procedures are put in place to combat misuse of said platforms and services.

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September 22, 2017, 03:17:50 PM
 #869

Corruption is an issue that will always emerge when it comes to any kind of currency, it is the responsibility of those running the different platforms and providing the different services to ensure the correct procedures are put in place to combat misuse of said platforms and services.
good point is not just crypto but any currency that worth will be able being use in any corruptions as people become greedy, there's always a
will for those people who really wants to keep more money than the usual that they should have and bitcoin is not exempt being use to hide
their wealth.

 
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September 22, 2017, 03:23:06 PM
 #870

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 the possibility of that thing of bitcoin can lead to corruption can really possible since you have stated that whenever money was involve, corruption do exist because of greediness of gathering more money for much power to have. But we must not blame bitcoin about the sprout of corruption since people are the responsible of doing such thing which is dependent on their doings.
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September 22, 2017, 03:31:41 PM
 #871

I think the question needs to be reframed somehow, corruption occurs where one or more people abuse their power or privilege to get a dishonest or fraudulent advantage over others - essentially, you could replace Bitcoin with Jellybeans and then neither Bitcoin nor Jellybeans cause corruption - dishonesty, fraud and abuse of privilege cause corruption. Bitcoin is just a convenient tool in the perpetration of corruption, much like cash - but it could be many other forms also.
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September 22, 2017, 03:31:52 PM
 #872

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 internet(past) was new and people are unware of internet and government thinking it will lead to bad works and later after time to time new technology developed and regulations were made. Since this time bitcoin is new to internet and peoples. It will lead to many bad activities no doubt but bitcoin is giving ways to payment system and other financial support. It will be new but later new inventors will figure out new ways and new inventions to track and regulate bitcoin.

Dont Worry.

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September 22, 2017, 03:40:32 PM
 #873

Just like any money, Bitcoin can be stolen, used for corruption or for any kind of illegal deals. On one hand, unlike in bank transactions, it's more complicated to trace and investigate suspicious transactions. On the other hand, since it is a decentralized currency with an open code and fair stats available, it's, in fact, far more trustworthy than traditional, state-controlled money. If Bitcoin-using enterprises are willing to provide clear reports of their income, it would certainly help to reduce corruption. Simultaneously, growing demand is pushing state institutions to accept Bitcoin as legitimate currency. It may sound idealistic, but cryptocurrency might be the exact tool to make financial relations between business and state more transparent and more clear to general society, which leaves less room for corruption.
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September 22, 2017, 03:59:53 PM
 #874

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? no it's not, but stolen is possible because those people who use this bitcoin have their on account or ledger, this is only a Virtual Currency it is tangible, unless you convert into currency depending upon the country you are, and it is available every time, plus you can share it into your friends or whatsoever that's the time the " CORRUPTION" is inlvolve

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September 22, 2017, 04:03:25 PM
 #875

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. I can. i can think of different ways corruption can happen even in this forum too.

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September 22, 2017, 04:20:56 PM
 #876

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 no,  the transaction of bitcoin is transparent and publicly viewable.  So people can know where the money flowing. Although there is anonimity in bitcoin but people can see that someone is sending an amountbof bitcoin to someone else, but there is no information linking the transaction to anyone. So if we know who was the user of the address, we can supervise it.
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September 22, 2017, 04:29:17 PM
 #877

Bitcoin is a type of currency, and any type of currency can lead to corruption, so yeah bitcoin also may lead to corruption Sad

Yes you are right , money is money and people won't change.
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September 22, 2017, 05:44:37 PM
 #878

Corruption is as a result of insatiable want of man. So whether bitcoin or paper money, corruption is born with man. Anyway , for bitcoin, it might be lesser if we guide our wallet very well but once you have been frauded in this digital currency, off we know you can't recover it for now unless there is another technology out there for recovery.

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September 22, 2017, 06:09:29 PM
 #879

Yes.. Why not you yourself said how... Corruption is everywhere...thus... Getting corrupted people in this bitcoins system is for sure gonna getGhe system dirty its... Always like this only...there is no end to it..until and unless... Their mindset is like this... It will happen for sure.. no doubt about that..



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September 22, 2017, 06:24:12 PM
 #880

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?

Ithink the nature of anything can lead to corruption when it involves having a sort of money.

In the case of bitcoin the corruption comes into the exchanges. The employees can corrupt the exchange wallets. All it atkes is one or two people to laundaer money as we saw for btc-e. Then everyone gets screwd. when anyone hs control of that much money or coins they can have corruption seep in Sad



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  ▀██████▄▄█▀                ▄▄███████▀
   ▐█████████▄           ▄▄███████████
     ▀█████████▄▄      ▄█████████████
       ▀██████████    ███████████████
        ▐▀█████████  █████████████▀ ▐▌
        ▐▌ ▀▀██████ ▐███████████▀   ▐▌
        ▐▌      ▀██ ▐█████████▀     ▐▌
         █        ▀  ██████         █
         ▐█          ▐█████▄       █▌
          ▀█▄         ▀██████▄   ▄█▀
            ▀█▄         ▀█████▌▄█▀
              ▀██▄▄       ▀▄▄██▀
                ▀▀████████▀▀
T
....ANGEL TOKEN....


                                         ▄
                 ▄▄████████▄▄         ▄▄██
 ▄▄           ▄██▀▀        ▀▀██▄    ▄█▀█▀ 
 ▀█▀█▄▄     ▄█▀                ▀█▄▄█  ▄█▀ 
  ▀█  ▀▀█▄▄█▀                ▄▄██░   █▀   
   ▐▄▄  ░░░▀█▄           ▄▄█▀▀░░░   ▄█     
     ▀█▄ ░░░▒▒█▄▄      ▄██▒▒▒▒▒░    █     
       ▀▄▄ ░░▒▒▒▓█    ██▒▒▒▒▒▒░   ▄▄█     
        ▐▀█▄░░▒▒▓██  █▓▒▒▒▒▒▒░  ▄█▀ ▐▌     
        ▐▌ ▀▀█▒▓███░▐█▓▒▒▒▒░░ ▄█▀   ▐▌     
        ▐▌      ▀██ ▐█▓▓▒▒▄▄▄█▀     ▐▌     
         █        ▀  █▓█▀▀█         █     
         ▐█          ▐▄▓░ █▄       █▌     
          ▀█▄         ▀█▒░ ▀█▄   ▄█▀       
            ▀█▄         ▀█▄▄▄█▌▄█▀         
              ▀██▄▄       ▀▄▄██▀           
                 ▀▀████████▀▀             

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