Can Bitcoin also lead to corruption ?

[Nevis]

Yes,actually all altcoins bitcoins and any other form of money can be a root of corruption as long as the people who will use the money will benefit for his own.

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[deisik]

Bitcoin is a currency. Corruption has nothing to do with what type of currency or asset is used. Corruption is result of greed. Currency is mode of transfer of wealth/value

There is still a difference

It should be obvious that more anonymous coin allows more room for corruption while completely public transfers which anyone can see and analyze are not suitable for "corrupting" since bribes will be seen at once. That's why corruption loves cash, cash is untraceable, and the police takes great efforts to catch the corrupted officials red-handed when they receive bribes. Fiat transfers are easily traceable so they are not used much directly, only through strawmen but that involves additional risks

[theunbeatable]

What causes the countries to fall? What causes the wars between nations? What causes the economy of the rich countries starting to break down?
Land, territories, reserves, immediate threat to global elites and so on.. Why do people did these? Because of power. What has made them to acquire power? Wealth. The endless desires of people made this world in chaos. They've rather choose to kill and destroy just for wealth.

This Cryptocurrency thing and it's involvement to overthrow central banks and the present system is a serious matter. It's more than just earning, curruption and the wrongs of everything will be here. This will be a bloody hell. And if you're asking me if Bitcoin can lead to curruption? It is already on fire.

[BlackBaron]

yes it is very possible and in my opinion it has biggest chance than fiat money I mean look at bitcoin that has anonymity and small fees it is perfect for corruption attempt

[Hypnosis00]

Bitcoin can't lead to corruption because bitcoin is decentralized and it can't be controlled by anyone, the bitcoin is known for being decentralized and if bitcoin lead to corruption then it means that it already broke its features and it will be a huge effect for the price and it will go down.

[wuvdoll]

yeah I do think so. The corruption of Bitcoin is likely to happen in the future when there are too many altcoins exist and many advance function has been added to the new coin. When it happens, the prices of Bitcoin will drop down and no one will care about this coin anymore

i do not think that such activities can harm bitcoin so much, because bitcoin itself is not responsible for that. as we can see that there may not be a sing currency which may not be use for corruption, even the USD and all other currencies may be used for corruption but still USD is one of the most popular fiat currency of the world.

Corruption and greed are always there, whether it is fiat gold or bitcoin if it is something expensive, people will always find a way to utilize it for bad things, because greed is a part of us since the begging.

But perhaps some people say that due to bitcoin hiding the identity of the use it enhances the illegal uses of money like for using it to bribe people for money laundry and other illegal activities.

[jorneyflair]

yes it is very possible and in my opinion it has biggest chance than fiat money I mean look at bitcoin that has anonymity and small fees it is perfect for corruption attempt

Not necessarily, because if you are in situation (as a criminal) that requires bribing an officer, you would have to approach him before, with this proposition.
If you would get caught, trying to bribe law enforcement officer with bitcoin is a rather bad idea, because you cannot make the transaction in a blink of an eye.
For example, if you have 2,000$ dollars with you, and for some reason police will get you while smuggling the drugs through border, you can just give them the cash you have and drive away (if they will agree for a bribe of course). But in the same case but with bitcoin payment, that would be a really hard to do because the opposite side needs to know that they indeed have their money, the whole thing cannot last too long because someone may find out that you and the officer are doing a crime.

[speem28]

Bitcoin can't lead to corruption because bitcoin is decentralized and it can't be controlled by anyone, the bitcoin is known for being decentralized and if bitcoin lead to corruption then it means that it already broke its features and it will be a huge effect for the price and it will go down.

I ought to disagree with you on this one. It's because of the anonymity of bitcoin that it can lead to corruption. Imagine you are a powerful man in the business industry or government official, It is proven that there is always a corrupt person within these fields and if they laundered or corrupted money, they can hide it through bitcoin which can't be trace. So that person will not get caught and he/she can get away with the money he/she stole from the people.

[panju1]

Bitcoin can't lead to corruption because bitcoin is decentralized and it can't be controlled by anyone, the bitcoin is known for being decentralized and if bitcoin lead to corruption then it means that it already broke its features and it will be a huge effect for the price and it will go down.

The OP is not talking about corruption in Bitcoin. He is talking about the features of Bitcoin helping corrupt people.
While that is a concern, we should not be blaming the tools for the action of men.

[Sled]

Bitcoin can't lead to corruption because bitcoin is decentralized and it can't be controlled by anyone, the bitcoin is known for being decentralized and if bitcoin lead to corruption then it means that it already broke its features and it will be a huge effect for the price and it will go down.

The OP is not talking about corruption in Bitcoin. He is talking about the features of Bitcoin helping corrupt people.
While that is a concern, we should not be blaming the tools for the action of men.

Yes i agree it is the features of bitcoin that can help the corrupt people to be more powerful because bitcoin is anonymous and it is one of the threat for us that can abuse by the corrupt people because we can't notice if they are doing illegal stuff or corrupting because bitcoin is not traceable and that is why bitcoin can lead to corruption because of anonymity.

[Lancusters]

Corruption leads not bitcoin and the desire of officials to make money and stupid laws that limit human at all. To feel free you have to pay. And in what currency it is not important.

[Duzter]

Bitcoin can't lead to corruption because bitcoin is decentralized and it can't be controlled by anyone, the bitcoin is known for being decentralized and if bitcoin lead to corruption then it means that it already broke its features and it will be a huge effect for the price and it will go down.

The OP is not talking about corruption in Bitcoin. He is talking about the features of Bitcoin helping corrupt people.
While that is a concern, we should not be blaming the tools for the action of men.

These days very few politicians are aware about bitcoin and it's characteristic features that helps in the corruption. If they had known about it, most might have started using it and the popularity would have reached high because every time they request users to transact in the form of bitcoin. So even the user who is unaware will learn and make the transaction.

[deisik]

Bitcoin can't lead to corruption because bitcoin is decentralized and it can't be controlled by anyone, the bitcoin is known for being decentralized and if bitcoin lead to corruption then it means that it already broke its features and it will be a huge effect for the price and it will go down.

I ought to disagree with you on this one. It's because of the anonymity of bitcoin that it can lead to corruption. Imagine you are a powerful man in the business industry or government official, It is proven that there is always a corrupt person within these fields and if they laundered or corrupted money, they can hide it through bitcoin which can't be trace. So that person will not get caught and he/she can get away with the money he/she stole from the people

I suggested the use of Bitcoin for bribes long ago (conceptually)

But you are certainly unfamiliar with an average amount of bribes which "powerful men" require. It is in the range of a few million dollars and above in developed countries due to risks involved. In other words, the bribe should suffice to provide the standard of living for the the rest of that man's life as well as his family if things go massively awry and the bribee gets fired or even imprisoned (in China, for example, you may easily end up executed). Now think how Bitcoin becomes not very suitable for bribes that large

[mornabo]

Yes,actually all altcoins bitcoins and any other form of money can be a root of corruption as long as the people who will use the money will benefit for his own.

Yeah all cryptocurrencies that have decentralized and anonymous properties can be created and used to hide the outcome of corruption
But commonly used is bitcoin because it is more secure

[DocGTR]

Yes,actually all altcoins bitcoins and any other form of money can be a root of corruption as long as the people who will use the money will benefit for his own.

Yeah all cryptocurrencies that have decentralized and anonymous properties can be created and used to hide the outcome of corruption
But commonly used is bitcoin because it is more secure

Right. For corruption, this will be a more convenient and safe way, because nobody is controlled.

[maydna]

Bitcoin can't lead to corruption because bitcoin is decentralized and it can't be controlled by anyone, the bitcoin is known for being decentralized and if bitcoin lead to corruption then it means that it already broke its features and it will be a huge effect for the price and it will go down.

The OP is not talking about corruption in Bitcoin. He is talking about the features of Bitcoin helping corrupt people.
While that is a concern, we should not be blaming the tools for the action of men.

Yes i agree it is the features of bitcoin that can help the corrupt people to be more powerful because bitcoin is anonymous and it is one of the threat for us that can abuse by the corrupt people because we can't notice if they are doing illegal stuff or corrupting because bitcoin is not traceable and that is why bitcoin can lead to corruption because of anonymity.

i think not just bitcoin that can lead to corruption but for real money, we know that money is leading to corruption and its make more damage for people in many aspects. i think if politicians or someone that corrupted already know bitcoin and they know that they can send the corruption money to other people without any other people know, then they will thinking that is good for them to send that money without any proof to explain and its only the wallet that we know.

[RedX]

Absolutely yes. Corruption on people who are already greedy in fiat currencies especially those politicians on higher seats will eventually happen. Bitcoin is very clear can be exchange as money so corrupt people will do anything to get more if it.

[sunsilk]

They are doing corruption when they are into fiat money and these corrupt people are doing it wherever they want.

So I'm pretty sure that bitcoin can also lead to corruption but only for those people that wants to use this medium for their bad plan.

[Sled]

They are doing corruption when they are into fiat money and these corrupt people are doing it wherever they want.

So I'm pretty sure that bitcoin can also lead to corruption but only for those people that wants to use this medium for their bad plan.

They can be more corrupt people in bitcoin because they can't be track down by the authorities and they can whatever they want like illegal stuffs because bitcoin is anonymous and that is what they like to do illegal things by being anonymous. So there is no doubt that bitcoin will become a gateway for the bad people to be more corrupt than before.

[Bunsomjelican]

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 very open to anyone neither to any country in the entire world as long as there's an internet connection it can easily be useful. which can be use for good and bad purposes.,So I do agreed it can be use for corruption if there some people who are bad intention to do this matter.