Can Bitcoin also lead to corruption ?

[Intersan]

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 of course, you also said it yourself that money is the reason why corruption exists. Greed exists when people see that there is more than what is needed. Greed is the reason why there are many poor people.

People can be greedy for everything which includes money, personal needs, attention, love and many other things. Being greedy can not be get rid of but can be restrained because it is a human nature.

Since bitcoin is still a currency, I believe that it can also lead to corruption especially if the equivalent price of bitcoin is high. Governments are one example where corruption exists but since we are talking about bitcoin I can only imagine the corruption that can happen with investing and in gambling sites. What if the trusted developers or the people behind a gambling site become greedy? For sure, he can do corruption by just giving his bitcoin address to the people who will deposit in order to play games in that site and running away taking all the deposited money. He became not just a corrupt person but as a thief as well.

The situation you have given can be considered as corruption but it is more about just stealing. Corruption is an act of stealing done by people who have positions ( government ) or done by people we call "officials". I don't think that what you said is corruption since the persons behind a signature campaign are developers and not officials.

[pitham1]

IMO, Bitcoin is an excellent tool for it, unfortunately. One of its goals is to give you more freedom, especially freedom from the banking system and government watch. These two things, as a "necessary evil" also acts as a restraint, keeping more difficult to trying to corrupt someone else or being corrupted. When you break this restraint, the field is now clear...

The money trail is just one aspect of corruption. While you might say that the banking system acts as a restraint, people could have easily side stepped this using gold. So you cannot conclude that the field is now clear, just because Bitcoin exists.

[Vishnu.Reang]

Bitcoin is an excellent choice for those who want to bribe a government official, or for those who are looking to launder their ill earned money. Hmm.... perhaps not as attractive as physical cash... but still a very good option.

[jems]

I think bitcoin can be used as the instrument for corruption. Today bitcoin stays not so known and not so many people knoe about it. But in nearly future when bitcoin will be spreaded on our daily life and more people will talk about it politicians or businessmen can start to use bitcoin for their financial operations. The main factor here is that with bitcoin you can hide your indentity and such corruption money making can have place to be very often.

your right as of now a little bit percent chance to bitcoin use instrument for corruption because many people don't know about bitcoin as of now but in future i predict that bitcoin used for corruption like paper money.

[peter0425]

I think bitcoin can be used as the instrument for corruption. Today bitcoin stays not so known and not so many people knoe about it. But in nearly future when bitcoin will be spreaded on our daily life and more people will talk about it politicians or businessmen can start to use bitcoin for their financial operations. The main factor here is that with bitcoin you can hide your indentity and such corruption money making can have place to be very often.

your right as of now a little bit percent chance to bitcoin use instrument for corruption because many people don't know about bitcoin as of now but in future i predict that bitcoin used for corruption like paper money.

I think more likely politician will go to bitcoin if they know how bitcoin works and keep it safe for money trail. So I think bitcoin can be used in any forms not only in illegal activities like corruption it has good use as well. Its that it is more evident that bitcoin is used for scam Ponzi scheme and illegal activities.

[severaldetails]

I think bitcoin can be used as the instrument for corruption. Today bitcoin stays not so known and not so many people knoe about it. But in nearly future when bitcoin will be spreaded on our daily life and more people will talk about it politicians or businessmen can start to use bitcoin for their financial operations. The main factor here is that with bitcoin you can hide your indentity and such corruption money making can have place to be very often.

your right as of now a little bit percent chance to bitcoin use instrument for corruption because many people don't know about bitcoin as of now but in future i predict that bitcoin used for corruption like paper money.

I think more likely politician will go to bitcoin if they know how bitcoin works and keep it safe for money trail. So I think bitcoin can be used in any forms not only in illegal activities like corruption it has good use as well. Its that it is more evident that bitcoin is used for scam Ponzi scheme and illegal activities.

I think as well that bitcoin, if used for corruption, it will be used when the amounts are high.
Like for higher ranking politicians, or for industry bosses. But those will do their corruption with or without bitcoin, so bitcoin't won't lead to it.
And when it comes to ordinary people, I do not think they would use bitcoin if they have corruption in mind. They woould still use good old cash.
So to me, bitcoin does not lead to corruption.

[ilovefeetsmell]

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 know it will lead to corruption but I think is not. Hard to learn everything about it, behind about bitcoin. You must learn more about technologies. Must learn how it processed. It is very certain to track the bitcoin funds. Make it our money or bitcoin more secure from them, from the bad people.

[Cherry Girl]

Bitcoin is an excellent choice for those who want to bribe a government official, or for those who are looking to launder their ill earned money. Hmm.... perhaps not as attractive as physical cash... but still a very good option.

This is a very good option, but not yet so known for everyone. Many are still afraid and do not know how to use it. In time, bitcoins will become better and corruption will start to flourish.

[speem28]

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 know it will lead to corruption but I think is not. Hard to learn everything about it, behind about bitcoin. You must learn more about technologies. Must learn how it processed. It is very certain to track the bitcoin funds. Make it our money or bitcoin more secure from them, from the bad people.

Figured this as much, I also thought about this but what if people who have a lot of money buys a lot of bitcoin so that he/she can hide his.her money ? It doesn't take much to learn the basics of bitcoin so they don't have to really study how it works though.

[speem28]

Bitcoin is an excellent choice for those who want to bribe a government official, or for those who are looking to launder their ill earned money. Hmm.... perhaps not as attractive as physical cash... but still a very good option.

This is a very good option, but not yet so known for everyone. Many are still afraid and do not know how to use it. In time, bitcoins will become better and corruption will start to flourish.

Well, I ought to disagree with you on that, even though there are still a lot of people who does not know anything about bitcoin, government officials who have a greater tendency to launder their ill-earned money will be one of the many who will be sure to know a lot of bitcoin. Also, people who have a lot of ill-earned money will tend to find ways to hide it to other people so it's not possible for them to know about bitcoin.

[VTCutch]

I'm sure that bitcoin has long been used in corruption, but few people know about it because of the novelty of this currency. Perhaps he has some advantages in this business over paper money.

[dwieyani]

Money that will lead to corruption

[cryp24x]

I'm sure that bitcoin has long been used in corruption, but few people know about it because of the novelty of this currency. Perhaps he has some advantages in this business over paper money.

I agree, starting from silkroad until now. Bitcoin had been used to corrupt peoples mind from bribing and paying people to spread false news and false information regarding something for personal intentions.  Bitcoin being money is no difference than any other money in the world.  They all can lead to corruption.

[LeGaulois]

@speem28 you should see the opposite... Given that bitcoin is a transparent crypto-currency, and that all transactions are public, why nobody ever thought to use the btc to fight the misappropriation of public funds and so that the citizens can see exactly how their taxes are being used?

[bartolo]

@speem28 you should see the opposite... Given that bitcoin is a transparent crypto-currency, and that all transactions are public, why nobody ever thought to use the btc to fight the misappropriation of public funds and so that the citizens can see exactly how their taxes are being used?

This is the way it should be. Public labeled addresses, signed transactions explaining what are these funds for, what and who are you paying. In public work sometimes budgets are surpassed by an excess of expenditure on material, an expense that is not explained later. With this technology that would not happen because there would be no hidden overpayments. 

[batang_bitcoin]

My government is warning us that bitcoin can be use to launder money and that's a yes, bitcoin can also lead to corruption only if the person is doing s shady activity. It will just depend on what is that guy aiming with bitcoin, greediness will also lead to do something bad like corruption but so far I haven't know if there is an official of our government that uses bitcoin.

[deisik]

@speem28 you should see the opposite... Given that bitcoin is a transparent crypto-currency, and that all transactions are public, why nobody ever thought to use the btc to fight the misappropriation of public funds and so that the citizens can see exactly how their taxes are being used?

This is the way it should be. Public labeled addresses, signed transactions explaining what are these funds for, what and who are you paying. In public work sometimes budgets are surpassed by an excess of expenditure on material, an expense that is not explained later. With this technology that would not happen because there would be no hidden overpayments

That would be too easy

If they really wanted to hide excessive expenditures (for example, to provide payoffs), they would just use another wallet (or even another payment channel, e.g. via cash). But even there are overpayments, there should also be a mechanism to disclose the reasons for overpaying. And even if such mechanism is in place, how would you know if this is a real overpayment (for example, due to some miscalculations at the planning stage) or an illegal payoff to a subcontractor?

[klf]

My government is warning us that bitcoin can be use to launder money and that's a yes, bitcoin can also lead to corruption only if the person is doing s shady activity. It will just depend on what is that guy aiming with bitcoin, greediness will also lead to do something bad like corruption but so far I haven't know if there is an official of our government that uses bitcoin.

As of now, bitcoins are only popular in gambling, porn and some shady transactions. But in main business bitcoins are not fully accepted in many countries.

Corruption is different, it depends on individuals but because of bitcoin transactions can't be traced so easily some people may prefer bitcoins as payment mode than fiat.

[bartolo]

@speem28 you should see the opposite... Given that bitcoin is a transparent crypto-currency, and that all transactions are public, why nobody ever thought to use the btc to fight the misappropriation of public funds and so that the citizens can see exactly how their taxes are being used?

This is the way it should be. Public labeled addresses, signed transactions explaining what are these funds for, what and who are you paying. In public work sometimes budgets are surpassed by an excess of expenditure on material, an expense that is not explained later. With this technology that would not happen because there would be no hidden overpayments

That would be too easy

If they really wanted to hide excessive expenditures (for example, to provide payoffs), they would just use another wallet (or even another payment channel, e.g. via cash). But even there are overpayments, there should also be a mechanism to disclose the reasons for overpaying. And even if such mechanism is in place, how would you know if this is a real overpayment (for example, due to some miscalculations at the planning stage) or an illegal payoff to a subcontractor?

I think the receiving addresses involved in public work should be public labeled addresses too so everybody could know to whom the address belongs. Payments should be clearly specified and explained and bills should be attached to clarify the reason for the payment. That way later it would be possible to verify if that payment was justified because there was a miscalculation or if an expense was made without clear justification and could be suspect.

[Rinder]

The only way to avoid corruption around bitcoin would each companie and governments expose their bitcoin accounts, soo all would know what the country is paying and the ammount, something that we dont know at all, since they keep this numbers hidden.