Can Bitcoin also lead to corruption ?

[panganib999]

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.

Corruption existed even before bitcoin has began to operate. Yes bitcoin can lead to corruption because of the users who abuse it. Bitcoin gives many users the power and that is what people want, the power where they can do whatever they want. And that power sometimes leads to bad actions like corruption.

[Naughty Princess]

Well, corruption is nothing new, and people who do it are always trying to look more ways to make their plans, anyway, bitcoin is money, so they can use it too, but i dont think that it makes more corruption in this world. So it depends on how they are going to use it, but obviously this is a bad thing and it needs to be stopped. But with bitcoin it is more easy to send money, so probaby yes.

This is how people manage the money they have. Maybe this can lead to corruption but it depends on a person who handles it. Being greed and not contented on what already have even it is more than enough for you. Since bitcoin is money, and money can make us dream big to the point that even we can step on other people, just pretend to be blind and continue to the main goal which is gaining more money.

[Therly]

Bitcoin isnt distinct from fiat, if the individual does wanna to steal cash, there are a whole lot pyramids employing bitcoin soo this is currently occurring for a although, besides individuals allows just take a seem at the shitty Ico that often come and steal your money, and the builders just dump their cash and left.

[evgeniyosda]

Bitcoin isnt different from fiat, if the person does wanna to steal income, there are a good deal pyramids using bitcoin soo this is presently taking place for a whilst, besides these allows consider a seem at the shitty Ico that constantly come and steal your money, and the builders just dump their cash and left.

[hridoyb]

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 is most online payment system And its so easy to transaction any amount.Most of the frelencer use this coin and all cryptocurrency trader are also use this coin.That means i want to say if anyone try to use this coin for corruption i think its not fault for bitcoin.give me answer please there was no corruption when there was no bitcoin??

[hyunee]

If bitcoin will use in the wrong way it will leads to corruption. Powerful people can have a greed when it comes to money. So I think if they use it too much or spoil the use of them it will greatlt leads to corruption.

[Transformbitz]

I think no. first of all bitcoin is Peoples money while fiat money is control by banks/governments so it wont lead bitcoin to corruption. we control our bitcoin but we can't control our fiat money because their are codes on it.

[katrimans]

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.

Corruption is born in a lot of ways, most of the time the people that are the ones committing the act of corruption are not the ones that benefit directly from it, it is very common that in many countries public officers become corrupt but many times they do not keep the money they give it to their boss who is the one that is corrupting everyone around him.

It all depends on the usage of Bitcoin. There is nothing in this world which was made for using it for illegal activities or corruption. It is we who use it for negative purpose. Bitcoin is no doubt a very good thing and we need to strike against this thing in case if it happens. We the investors and the users of Bitcoin have to play a role if this thing ever happens.

[abyaby123]

 Let’s accept thatCorruption is inevitable a social phenomenon that exists as naturally as an influenza virus. Many countries, especially the first world nations, claim that they have curbed this social stigma. But nonetheless, corruption still flourishes relentlessly in both political and bureaucratic offices, while impacting everything that comes under their spectrum. It is inherent to human nature, irrespective of class and creed.

[speem28]

Well, corruption is nothing new, and people who do it are always trying to look more ways to make their plans, anyway, bitcoin is money, so they can use it too, but i dont think that it makes more corruption in this world. So it depends on how they are going to use it, but obviously this is a bad thing and it needs to be stopped. But with bitcoin it is more easy to send money, so probaby yes.

Knowing that people are always finding ways to make their plan go smoothly, Bitcoin is a really good way of laundering corrupted money from the government. Because not only that you are sending your money to a different source, government officials will have a hard time tracing for that laundered money. We all know that corrupted government official's money is being announced in T.v by the bank like how much their net worth is, so if they hie their corrupted money in bitcoin it will never get announced by the bank.

[Pinkris128]

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 it is if people wont used it properly. And just like what you said being greedy is the main reason of corruption. They forget the other aspect and just focus on theirselves or their own sake. But if we know how to used it well and will do it then Im sure that corruption wont happen. The only reason why people become greed to money is because of poverty and just want to have a better life. But im hoping that it wont happen because bitcoin was really helpful to all of us so I hope it will be used correctly.

[knightmairesaint]

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. It has a greater chance of leading to corruption compared to currencies out there because it has no regulations. Liberty is too much. Greedy people will take advantage of these situation to gain too much of they must have. Another thing is bitcoin is high valued, much easier to get rich in such few amount. That will take attention of those who might want to gain wealth easily with whatever it takes doesn't matter even they aggreviate and act illegally.

[Tungsten-1]

I think no. first of all bitcoin is Peoples money while fiat money is control by banks/governments so it wont lead bitcoin to corruption. we control our bitcoin but we can't control our fiat money because their are codes on it.

How can you say no? I think you are unaware of dark web and deep web and much other hidden things like them. There are ransoms, there are corruptions in banks, there are target killings and there is much more that comes under umbrella of moral or financial corruption. But that is the flip side of coin. It basically all depends on you how you deal it.

[darkangelosme]

For me it is yes, because transaction through bitcoin or in any cryptocurrency  is very easy, so any greedy and corrupt people can easily use bitcoin for their bad intention they can use bitcoin as a strorage to the money they steal or they have corrupt, it is hard to accept but that is the truth, but even without bitcoin there are still a corruption in many forms, so we can not put the blame to bitcoin just because some people using it in their bad ideology  .

[vafro]

Of program it can direct 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 situation it can be utilized for corrupted activities.

[Japinat]

For me it is yes, because transaction through bitcoin or in any cryptocurrency  is very easy, so any greedy and corrupt people can easily use bitcoin for their bad intention they can use bitcoin as a strorage to the money they steal or they have corrupt, it is hard to accept but that is the truth, but even without bitcoin there are still a corruption in many forms, so we can not put the blame to bitcoin just because some people using it in their bad ideology  .

Exactly, we cannot stop this innovation just because it is use by corrupt people, there are more illegal transactions with fiat than bitcoin and with bitcoin transactions are traceable so it's more transparent. The government are corrupt, they can manipulate the people and they like us to trust them but that is not necessary anymore as we have bitcoin and the blockchain where anyone can view transactions history and that is for transparency.

[josh07]

if they support bitcoin yes it is possible to get the coraption here in the philippines but it is too late because government officials may even know about bitcoin so they have to tax it and what else do I believe bitcoin can solve coraptoin in the philippines ...

[millgates]

Of program it can direct 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 situation it can be utilized for corrupted activities.

Sorry but I disagree with you. Actually, all transactions of bitcoin are recorded, so if in the first time we know who was own the wallet that there is country's fund in it,  the public and law enforcement can know's where the money move. The bitcoin transactions are transparent,  so it will prevent people to do criminal activity. The Silk Road used bitcoin for their transaction,  but now it was shutdown, it show's that just because you use bitcoin doesn't mean you can evade law enforcement. I think bitcoin is not lead to corruption.

[umbara ardian]

can be bitcoin is currently prone to money laundering. those who are not easily tracked using bitcoins need to be acknowledged that bitcoin is very vulnerable to it because the transaction system on bitcoin or travel data is not traceable except the person itself. and having heard bitcoin is one of the most reliable tools for money laundering

[Wicked17]

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 its possible for a greedy people. If they get a fiat money in a corruption they can easily convert their money into bitcoin money. And since bitcoins is designed for being anonymous in every transaction they can easily hide their wealth without being detect by their anomaly.