Can Bitcoin also lead to corruption ?

[Finestream]

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.

They will be questioned by the authority as the government has the power to hold our bank accounts and even give notice to trading sites about our illegal activities. The main reason why the government does not like bitcoin is because it's a total opposite of their system in place, they want us to trust them with their centralized system but I think we should be smarter now, we should take this opportunity to get full freedom.

[giarised]

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?

Anything that people can save and spend, corruption will always be there.  The manipulation in the market by big investors of bitcoin is a form of corruptions, isn't it.  So, whether it be physical money or digital currency, there is no difference really.  As long as it can be save or spend... corruption will lurk its way to the system.

Undoubtedly, corruption is not related to money or system it is basically related to the ones who are using the system. Same is the case with bitcoin; we all know that there are always chances of imperfection in every creation made by man so bitcoin are no exception. Besides people are so evil minded; now a day that they are all the time looking for ways of misusing bitcoin.

[pinoyden]

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 because bitcoin is not hold or controlled by  a government or any other people or organizations. corruption happens mostly on the governments because they are  greedy enough and they wanted to have more money as possible because they want to be powerful so that they can rule their own country and controll the people.

[Tukang Becak]

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 because bitcoin is not hold or controlled by  a government or any other people or organizations. corruption happens mostly on the governments because they are  greedy enough and they wanted to have more money as possible because they want to be powerful so that they can rule their own country and controll the people.

Indeed the government can not control bitcoin but that does not mean bitcoin free from alleged embezzlement, when bitcoin increasingly popular then many corruptors who transfer money to bitcoin so that can not be tracked by anyone.

[Sylenth]

everything on market that exist has been touched by hands of corruption on some level, user being anonymous can use this money to buy drugs ,illegal ammo or what not .but every currency is prone to same ,even gold can be used for corruption. corruption is anywhere where there is money ,people want all the money in world and some of them can cross limits to get so. bitcoin emerged from darkweb and now its getting mainstream but as you mentioned there  are politicians who can benefit from it even when its fully implemented as the currency of nation .

[Fazlurkhan.kz]

As the transactions in Bitcoin is anonymous. It really can lead to corruption. There really should be a way in which one can track the transactions only if necessary!

[doomloop]

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.

Yea you are right it is not the bitcoin that lead to the corruption but the greed of the people who use bitcoin for this purpose, bitcoin is famous and the use of the bitcoin is now very common now. I think the main cause of the corruption is the greed of the people the bitcoin is very profitable and they are easily making and sending money through it now.

[Colt22]

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.

There is no such case which is reported in the past through which we can conclude this thing that Bitcoin will lead to corruption. Anyhow, Bitcoin can lead to corruption in fact this will be our fault, the fault of the ones who are or will be using it in the future. We need to stop Bitcoin for being used for illegal activities or even in corruption.

[Flodemaga]

It wont take too much to we see some politician start using bitcoin and crypto currencies to hide the money they get ilegal, it does scares me if they really will use crypto for those purpose because instead spread away the beneficts they will use it to damage even more crypto world, that most people consider as dark marketplaces.

[Bitcoincole]

It wont take too much to we see some politician start using bitcoin and crypto currencies to hide the money they get ilegal, it does scares me if they really will use crypto for those purpose because instead spread away the beneficts they will use it to damage even more crypto world, that most people consider as dark marketplaces.

Bitcoin can't lead to corruption because it is decentralized and even the government itself can not control so don't think for the bitcoin to be controlled by any person. So it is clearly see the evidence that bitcoin can not lead to corruption.

[Fulmand]

It wont take too much to we see some politician start using bitcoin and crypto currencies to hide the money they get ilegal, it does scares me if they really will use crypto for those purpose because instead spread away the beneficts they will use it to damage even more crypto world, that most people consider as dark marketplaces.

If those politician will plan to do corruption using bitcoin, I guess they would due to all transactions was incrypted. Unlike fiat cash corruptions money is very visible when it comes to being used as bribe as part of politicians corrupt acts. Yeah I agree on that matter that those politicians will hid their money using bitcoin as diversions of corrupted amounts.

[Burks]

As the transactions in Bitcoin is anonymous. It really can lead to corruption. There really should be a way in which one can track the transactions only if necessary!

As you said the bitcoin is one of the easiest for for doing corruption.If someone have black money he can easily convert it into bitcoins by local tradings like give money to someone and buythe bitcoins from him.If he bought the bitcoin no one can track him.
So it is highly possible for corruption.But if the whole world started to use digital currency then we can stop corruption.

[Malaya]

Bitcoin can lead to corruption definitely! In our world that is full greed...nothing is exempted in experiencing such corrupt practices. People will always think of things that can lead more to unpleasant things. Bitcoin is the same as having any other resources. Possibilities for it to be the means of corruption is possible.

[Chanock]

We all know corruption is all over the world and even bitcoin is not exempted in this kind of activities. Everyone can hold or store bitcoin even politician can do. Because greedy is natural in human bitcoin can use in different transaction with involvement of corruption that why bitcoin is not exempted.

[Gozie51]

As the transactions in Bitcoin is anonymous. It really can lead to corruption. There really should be a way in which one can track the transactions only if necessary!

As you said the bitcoin is one of the easiest for for doing corruption.If someone have black money he can easily convert it into bitcoins by local tradings like give money to someone and buythe bitcoins from him.If he bought the bitcoin no one can track him.
So it is highly possible for corruption.But if the whole world started to use digital currency then we can stop corruption.

I think you are quite right on the possibility of bitcoin still leading to corruption because human beings are naturally greedy. They will always find a means to break either into code or engineer fake wallets which I'm already having the information. Meanwhile, the other aspect you said if it started to be used, corruption will stop -I might not agree to that, because it is still the same thing. Bitcoin won't take away corruption.

[pavelkdr]

Indeed i feel so it may possibly direct to that if huge holders will manipulate and management bitcoins price tag in the market,also if the community alone confront some errors or intentionally dhut down the method and collect all bitcoins of all users.If federal government regulated bitcoins may be an situation to

[carlerha]

Indeed i feel so it may possibly direct to that if huge holders will manipulate and management bitcoins price tag in the market,also if the community alone confront some errors or intentionally dhut down the method and collect all bitcoins of all users.If federal government regulated bitcoins may be an situation to

The biggest problem which government have worry from accepting bitcoin as legal currency is this that bit coin have very high chances to use in corruption and specially in money laundering. So if some one have black money and he wants to make it white money he can simply purchase bitcoin in local market then convert it in other country in dollar then send these dollar to his own country pay some taxes on it and make your black money white in few hours.

[alfs75]

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?

Theres possibility that bitcoin can  also lead to corruption because this is a hidden currency that not regulated to the goverment maybe some bad people can use this as  a transaction for  buying weapons or drugs or other  kind of  bad  activities.theres possibility that they can use bitcoin for payment of some people  to do an terrorist act or illegal activities.bitcoin is made as part of  evolving technology for human goods,to make our work easier and to help us have an extra income and not for the person who have own personal interest to destroy our mothers earth.

[Thyaga]

It can not be because to buy a large amount of bitcoin in an exchange you need to verify the complete data.

[francesyrus]

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 can lead to corruption. I think everything that is related to money can lead to corruption in the future. Because of no government control bitcoin can be use on any illegal activities such as drug trade, etc., that can lead to corruption also.