Can Bitcoin also lead to corruption ?

[romero121]

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?

Whether bitcoin exists or not,corruption would exist.Bitcoin has nothing to do with corruption.But instead of money,bitcoin would be used for corruption.No need to carry money.Just a click to send bitcoin frm the wallet would do the job.

Even the days before the existence of bitcoin and other digital currencies corruption is found everywhere. So corruption is not lead by bitcoin, but this has given the people ease of transaction. End to end user can never be found but the transaction can be seen as everything is transparent.

[Taki]

Corruption and bitcoin are something different. Corruption is a moral issue that needs to be eradicated. All things can be linked and may be related, every thing related to money can be done for corrupt activities depending on how you react

Both are different things but bitcoin can help in the process of corruption someone. How does not bitcoin have the facility not to be seen from anyone ie anonymous

That's right. Hidden identity of bitcoin payments can lead to rise of corruption by my opinion. And this can be used not only for corruption, to any illegal activity as terrorism. I think those countries who plan to adopt bitcoin to their financial system have to keep in mind all that and create something to prevent it.

[jubalix]

No.

It's the other way round, bitcoins leads to meeting market demand and unmasking corruption,

Corruption is now legislated (or otherwise, common law etc) illegal activities that are actually not economically optimal, due to in-efficient laws, interest groups, monopolies.

This then has a secondary effect that forces other people to act even more "corruptly" as their opportunity is denied them to act in the market.

BTC forces the users to be provable accountable,

You have the funds, you sent the funds, the funds arrived.

You can do what you say, you did what you said.

There is no shadow or possibility of deception.

This one reason I the exchanges and business will be forced eventually to crypto's as they will be a much better credit risk, when they can prove their true state of funding.

[molsewid]

Noo bitcoin is currency where you can only use to internet but if government used this bitcoin currency for them to stock their money maybe? Than using their own bank account where they can hide those billions transaction that they corrupt from people, It depends if they will used bitcoin or not its their choice not us

[ivanpoldark]

As to two-three world countries such Ukraine, bitcoin already turns the instrument of corruption. It is hard to trace bitcoins, politics and clerks for sure choose this way of bribery.

[xIIImaL]

As to two-three world countries such Ukraine, bitcoin already turns the instrument of corruption. It is hard to trace bitcoins, politics and clerks for sure choose this way of bribery.

It's easy to trace the bitcoin, if you know the address. That's why they are adopting bitcoin as a legal money in most of the country. If any payment or transaction happening in the concern wallet and if you the address. Its easy traceable and politicians does not want that to happen. They want to hide and make corruption everywhere. Bitcoin will help us to recover from the corrupted society.

[audaciousbeing]

Corruption today has definitely taken a new turn and its not even about money again as every facet of people lives they do one thing or the other saddle around corruption even with people sure they can be traced using banks they still engaged in it.

As to two-three world countries such Ukraine, bitcoin already turns the instrument of corruption. It is hard to trace bitcoins, politics and clerks for sure choose this way of bribery.

It's easy to trace the bitcoin, if you know the address. That's why they are adopting bitcoin as a legal money in most of the country. If any payment or transaction happening in the concern wallet and if you the address. Its easy traceable and politicians does not want that to happen. They want to hide and make corruption everywhere. Bitcoin will help us to recover from the corrupted society.

I disagree that its easy to trace because I have been scammed before and nothing happened despite everything I did. I am sure if it were to be through bank, I will get my money back imagine if all politicians or top executives are aware that once they are in bitcoin, then no one can trace them, I am sure will all know the answer on how they will want to exploit such avenue.

[susila_bai]

As to two-three world countries such Ukraine, bitcoin already turns the instrument of corruption. It is hard to trace bitcoins, politics and clerks for sure choose this way of bribery.

It's easy to trace the bitcoin, if you know the address. That's why they are adopting bitcoin as a legal money in most of the country. If any payment or transaction happening in the concern wallet and if you the address. Its easy traceable and politicians does not want that to happen. They want to hide and make corruption everywhere. Bitcoin will help us to recover from the corrupted society.

You are hero Member and even dont know the simple details about bitcoin that it is non traceable transaction this is why it got so famous and so many dice and other gambling sites are developing so fast. If bitcoin transaction can be traceable then Bitcoin will become worthless

[BeGoods]

Bitcoin can also lead to corruption and can be linked to corruption after all corruption happens because of money and bitcoin is a form of money, a crypto currency so there is still corruption in bitcoin but it is hidden like how one commits corruptions because of a fiat currency. It is impossible for bitcoin, a currency to be corruption free.

I do not deny that bitcoin used for illegal activities. Including for money laundering on corruption. How not corruptors will certainly think how to hide their money. And bitcoin has nice amenities

[wallstone]

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. Anything that is realted with money, there is always corruption as there are people which manage/hold the certain funds.

[bakkang]

Money is the root of all sins and it can lead to corruption which is very popular to the government. Since Bitcoin is a digital money then it has the possibility that it can lead to corruption. But as long as you know the right and wrong and you can faithfully follow it then bitcoin will never lead you to corruption.

[maydna]

i am not sure that bitcoin can also lead to corruption or not but the one thing that i know is bitcoin can lead for money laundering because when someone wants to do money laundering, he can directly do it by buying bitcoin and he can keep the amount of bitcoin and waiting for selling the bitcoin. but maybe bitcoin can lead to corruption too like money laundering, i only don't know how to do it and i think i don't want to do that because its prohibited for anyone.

[posternat]

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?

Whether bitcoin exists or not,corruption would exist.Bitcoin has nothing to do with corruption.But instead of money,bitcoin would be used for corruption.No need to carry money.Just a click to send bitcoin frm the wallet would do the job.

Bitcoin cant control the corruption neither help in corruption. Its just a money which can be used in anyway by the spender on this money. So we can never blame any currency for corruption.

[freedomno1]

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?

If they are able to create a blockchain that has a trojan horse in it that everyone uses why not just delete a record.
Otherwise transactions would be traceable on point of corruption and create a log of records that would make it difficult to prove, accounting figures will need to balance.
That said even a deleted record if someone had the power to verify every transaction log and access to the database it would likely get caught someday so it would need to be a secret database or able to switch transactions with other ones and assume no one is using a saved state of the blockchain that can detect the difference.

[CuriousGeorge]

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?

Whether bitcoin exists or not,corruption would exist.Bitcoin has nothing to do with corruption.But instead of money,bitcoin would be used for corruption.No need to carry money.Just a click to send bitcoin frm the wallet would do the job.

Bitcoin cant control the corruption neither help in corruption. Its just a money which can be used in anyway by the spender on this money. So we can never blame any currency for corruption.

can't agree more with you, it's funny seeing people thinking that bitcoin could lead to corruption where bitcoin is literally transparent currency more than the fiat, people are lacking of knowledge but still talking bullshit everywhere. and one more thing, bitcoin don't have brain, it's only a currency as you say.

[deisik]

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?

If they are able to create a blockchain that has a trojan horse in it that everyone uses why not just delete a record.
Otherwise transactions would be traceable on point of corruption and create a log of records that would make it difficult to prove, accounting figures will need to balance.
That said even a deleted record if someone had the power to verify every transaction log and access to the database it would likely get caught someday so it would need to be a secret database or able to switch transactions with other ones and assume no one is using a saved state of the blockchain that can detect the difference.

I'm sorry, but whom do you refer to by "they"?

If you talk about government and them starting their own "blockchain" coin with black doors and trojans, what makes you think that people will ever use it? I think that people will steer clear from this coin as far as possible even if it is opensourced. But by opensourcing it they won't be able to tacitly inject some malicious code into it since many people will be just eager to scrutinize the codebase of this coin

[NEWGOODOUBLE]

Bitcoin can also lead to corruption and can be linked to corruption after all corruption happens because of money and bitcoin is a form of money, a crypto currency so there is still corruption in bitcoin but it is hidden like how one commits corruptions because of a fiat currency. It is impossible for bitcoin, a currency to be corruption free.

Because bitcoin has anonymous and decentralized facilities it's perfect to hide your identity as well as the money you corrupt. Believe it or not they already use it

[davis196]

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 itself doesn`t "lead" to corruption.Bitcoin is money and the money are just a tool.
I`m curious about corruption and the bitcoin core developers.Can they leave or "sell" the blockchain for money and abandon the bitcoin idea and community? 

[Janation]

Bitcoin can also lead to corruption and can be linked to corruption after all corruption happens because of money and bitcoin is a form of money, a crypto currency so there is still corruption in bitcoin but it is hidden like how one commits corruptions because of a fiat currency. It is impossible for bitcoin, a currency to be corruption free.

Because bitcoin has anonymous and decentralized facilities it's perfect to hide your identity as well as the money you corrupt. Believe it or not they already use it

Hide your identity as well as the money you corrupt, then thats laundering, not corruption. I don't think that the government will have a way to corrupt bitcoin because it is decentralized. They can't get anything out of it unless they own a site of bitcoin wallet or trading site.

[deisik]

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 itself doesn`t "lead" to corruption.Bitcoin is money and the money are just a tool.
I`m curious about corruption and the bitcoin core developers.Can they leave or "sell" the blockchain for money and abandon the bitcoin idea and community? 

Developers are not as important as miners

It is miners who can betray Bitcoin, and what is most discouraging in this regard is that it will be a wise decision economically. Many politicians know it by heart that "to betray on time is not to betray but to foresee". And now miners might know that too. They know that the days of expensive transactions and highly profitable mining are numbered, that there is no place for them in the future, so "selling" Bitcoin while they are still at the peak of their power and might is actually a viable solution. I'm certain that if some government offers them a few dozen million dollars to kill Bitcoin they will do it without a second thought