Can Bitcoin also lead to corruption ?

[speem28]

The price of the bitcoin is unstable, a month can go up to 50% but could drop by up to 50%, it is very risky for the corruptor to save money because there is no money opportunities bitcoin runs out.

Funny you consider this as an issue for the corruptor, although this not seems to be a big problem for them. As long as they store and keep their bitcoin no matter how low the price of bitcoin at the moment, they can still wait for it to increase. I think the biggest reason of them using bitcoin is that to hide their corrupted money so that they will not easily get caught.

We must remember that the bitcoin fluctuations are still balanced even though they are often up and down, we can see the current bitcoin prices, and if viewed from corruption, this is not a big deal because the most important thing for them is by Washing their money as much as possible, depreciation is inevitable , Bitcoin is not money that can be lost and this is the entrance to speculate from corruptors.

That's right! it is not a problem even if the price of bitcoin will suddenly get low for some reason, all we know is that it will also go high after time and the corruptor just have to choose a perfect time to withdraw his/her corrupted money. The point here is not the price of bitcoin at a specific time, but the ways that bitcoin can be used and lead to corruption.

[Siren]

The price of the bitcoin is unstable, a month can go up to 50% but could drop by up to 50%, it is very risky for the corruptor to save money because there is no money opportunities bitcoin runs out.

Funny you consider this as an issue for the corruptor, although this not seems to be a big problem for them. As long as they store and keep their bitcoin no matter how low the price of bitcoin at the moment, they can still wait for it to increase. I think the biggest reason of them using bitcoin is that to hide their corrupted money so that they will not easily get caught.

We must remember that the bitcoin fluctuations are still balanced even though they are often up and down, we can see the current bitcoin prices, and if viewed from corruption, this is not a big deal because the most important thing for them is by Washing their money as much as possible, depreciation is inevitable , Bitcoin is not money that can be lost and this is the entrance to speculate from corruptors.

That's right! it is not a problem even if the price of bitcoin will suddenly get low for some reason, all we know is that it will also go high after time and the corruptor just have to choose a perfect time to withdraw his/her corrupted money. The point here is not the price of bitcoin at a specific time, but the ways that bitcoin can be used and lead to corruption.

Correct, as long as the corrupt official see bitcoin as money, cha-ching, there would not be problem for them. Corruptors can even change it to fiat easily without having to go any KYC or AML regulators. As long as the corrupt official can get hold of the bitcoin in return of a certain favor we can't do anything about it. But its not bitcoin fault. Bitcoin has also so many good use to start with not just in illegal activities.

[danherbias07]

The price of the bitcoin is unstable, a month can go up to 50% but could drop by up to 50%, it is very risky for the corruptor to save money because there is no money opportunities bitcoin runs out.

Funny you consider this as an issue for the corruptor, although this not seems to be a big problem for them. As long as they store and keep their bitcoin no matter how low the price of bitcoin at the moment, they can still wait for it to increase. I think the biggest reason of them using bitcoin is that to hide their corrupted money so that they will not easily get caught.

We must remember that the bitcoin fluctuations are still balanced even though they are often up and down, we can see the current bitcoin prices, and if viewed from corruption, this is not a big deal because the most important thing for them is by Washing their money as much as possible, depreciation is inevitable , Bitcoin is not money that can be lost and this is the entrance to speculate from corruptors.

That's right! it is not a problem even if the price of bitcoin will suddenly get low for some reason, all we know is that it will also go high after time and the corruptor just have to choose a perfect time to withdraw his/her corrupted money. The point here is not the price of bitcoin at a specific time, but the ways that bitcoin can be used and lead to corruption.

Correct, as long as the corrupt official see bitcoin as money, cha-ching, there would not be problem for them. Corruptors can even change it to fiat easily without having to go any KYC or AML regulators. As long as the corrupt official can get hold of the bitcoin in return of a certain favor we can't do anything about it. But its not bitcoin fault. Bitcoin has also so many good use to start with not just in illegal activities.

Yes of course it is not bitcoin that is at fault. It is just a medium that users tries to use just for evil intents.
The government saw that. They can get something out of it so why not try to get a hold of it.
Are there no corrupted government now? They spent so much money just to get that position and just how much will they get from their salary. Not even half of all the campaigns they did amd spent with.
I will not be shocked if someday they will put a high tax with bitcoin usage.

[ValeryBark]

Corruption does not depend on money. Bitcoin nothing to do with. What corrupt officials do not take bribes in dollars? Even if the money is not at all they will take bribes of gold and products. It seems to me that it's just a reason to fight bitcoin.

[deisik]

If the politicians enters in the world of bitcoin, I think there is a chances that bitcoin can lead to corruption. Even there's a chance the corruption of bitcoin, it will never be happen anymore because developer would not want it to happen because they know that bitcoin corruption can lead the bitcoiners to quit using bitcoin.

True, one of the cast of corruptors is political lol. If they know the bitcoin well. Maybe they will wash their money with bitcoin because it is much safer for their identity

Since politicians are known to steal huge amounts of money I doubt bitcoin or any other coin will have enough volume so they can buy coins without disturbing the market, and also it will be almost impossible to try to tumble such a huge amount of coins

That is going to change in the future

Especially, if 1 bitcoin would be worth dozens of thousand of dollars (if not hundreds). Further, we should not forget about physical bitcoins like Casascius coins or OpenDime devices. These make Bitcoin a perfect tool for bribery. You can literally pack millions of dollars in just one flash stick and give it almost unnoticed. Even if something goes awry and you get caught red-handed, you can claim that this is just a USB stick with some insignificant reports

[BCTBF]

I think corruption can not run in bitcoin world, because I think bitcoin has a very transparent transaction, because that's the my reason bitcoin can not lead to corruption.

[Cherylstar86]

The price of the bitcoin is unstable, a month can go up to 50% but could drop by up to 50%, it is very risky for the corruptor to save money because there is no money opportunities bitcoin runs out.

Funny you consider this as an issue for the corruptor, although this not seems to be a big problem for them. As long as they store and keep their bitcoin no matter how low the price of bitcoin at the moment, they can still wait for it to increase. I think the biggest reason of them using bitcoin is that to hide their corrupted money so that they will not easily get caught.

We must remember that the bitcoin fluctuations are still balanced even though they are often up and down, we can see the current bitcoin prices, and if viewed from corruption, this is not a big deal because the most important thing for them is by Washing their money as much as possible, depreciation is inevitable , Bitcoin is not money that can be lost and this is the entrance to speculate from corruptors.

No don't just disregard bitcoin as money, because if it's not a money why isn't you spend it to buy what you liked to spend on some goods. In fact more people were now using bitcoin as their mode of payment system online, particularly those digital currency users. Although speculations were normally happening in the market, it's not assurance of no corruption with bitcoin; but if those hidden transactions made of corrupt people which their bridge is through bitcoin. I think that is beyond our control and yet bitcoin is having it's own freedom of any transactions, as long as requirements is completely complied.

[Marma Kalari]

That is going to change in the future
Especially, if 1 bitcoin would be worth dozens of thousand of dollars (if not hundreds). Further, we should not forget about physical bitcoins like Casascius coins or OpenDime devices. These make Bitcoin a perfect tool for bribery. You can literally pack millions of dollars in just one flash stick and give it almost unnoticed. Even if something goes awry and you get caught red-handed, you can claim that this is just a USB stick with some insignificant reports

If someone is adamant to do something they will find a solution even if there are many restriction involved.Yes it is possible that millions of dollars can be transferred with the help of a USB stick but it is hard to acquire these kind of money and convert it to bitcoin without the help of a bank,if not you have to be a big time miner or with the help of a miner group .So i cannot consider this as a realistic situation.

[bestluck]

I do not think that bitcoin can also lead to corruption because the transaction is recorded online and any person who transfer their coins are available online so if any person will think for to launder the money especially in the situation when the exchange will have his identity then he will put himself in trap.

[grermezter]

First and foremost, i have my doubts on how bitcoins can lead to corruption, i can know that people can use bitcoins as a means of corrupting people.

[goldcoinminer]

First and foremost, i have my doubts on how bitcoins can lead to corruption, i can know that people can use bitcoins as a means of corrupting people.

It will not lead to corruption if it will be controlled by the government, they have regulations
to impose on proper handing of bitcoins and it should be followed.

[deisik]

That is going to change in the future
Especially, if 1 bitcoin would be worth dozens of thousand of dollars (if not hundreds). Further, we should not forget about physical bitcoins like Casascius coins or OpenDime devices. These make Bitcoin a perfect tool for bribery. You can literally pack millions of dollars in just one flash stick and give it almost unnoticed. Even if something goes awry and you get caught red-handed, you can claim that this is just a USB stick with some insignificant reports

If someone is adamant to do something they will find a solution even if there are many restriction involved.Yes it is possible that millions of dollars can be transferred with the help of a USB stick but it is hard to acquire these kind of money and convert it to bitcoin without the help of a bank,if not you have to be a big time miner or with the help of a miner group .So i cannot consider this as a realistic situation

What exactly don't you consider as a realistic situation?

Have you missed to read even the first sentence of my post and actually read the whole post backwards? You don't have to buy million dollars worth of bitcoins and still less mine them. You have just sit and wait patiently until Bitcoin appreciates to these figures on its own. Then you already have million dollars as bitcoins in your hands "without the help of a bank". You are your own bank, don't forget that

[solitare]

Money and Bitcoin don't lead to corruption.
Corrupt people would still be corrupt regardless of the type of currency used.

[djordjamayna]

It can lead actually since it is full anonymous

[crypto.classroom]

Money and Bitcoin don't lead to corruption.
Corrupt people would still be corrupt regardless of the type of currency used.

The current method of capital and money was invented at the advent of the first cities.  Ancient Babylon worked out all the particulars of money in order to control the people and more efficiently profit from enslaving them.  It also has many secondary benefits but the entire reason it as first created was to create a system under which the people would be compelled to accept. 

Thousands of years later the same people that created money in the first place are still in power.  They are the people behind the rulers we never see and few know about. The original money changers. 

With the advent of Bitcoin and cryptocurrency, there is a chance for the people to break the chains of thousands of years servitude to "the machine"

[chrisivl]

It can lead actually since it is full anonymous

Yes, it will be much more convenient due to anonymity. Bitcoin will bring corruption to a new level

[BitcoinGirl.Club]

It can lead actually since it is full anonymous

Yes, it will be much more convenient due to anonymity. Bitcoin will bring corruption to a new level

I say Bitcoin only has partial anonymity it does not have that feature like other alts do and if you chose to bribe someone using bitcoin it would be easy for somebody to link a transaction to you which is evidence on its own, so using bitcoin for corrupt practices might be a bad idea  because bitcoin is an open book. Am confident that bitcoin can not lead to corruption

[Vikingr]

Corruption does not depend on money. Bitcoin nothing to do with. What corrupt officials do not take bribes in dollars? Even if the money is not at all they will take bribes of gold and products. It seems to me that it's just a reason to fight bitcoin.

Yeah that is also a good idea that corruption do not depend on money. Suppose there is a corrupt person then he will do corruption in any way no matter that what the currency is in his country or in what currency he is working he will know that this currency is convertible and then he will convert it to his desired currency. So corruption depend on the people and not on the type of currency.

[Wesimon]

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?

As what you have said, corruption is everywhere. Bitcoin can possibly be used in corruption since it is anonymous. We know the fact that bitcoin is really doing well ever since it started. So many people would have so much interest in its ability. There are also so much opportunity in bitcoin, so I wouldn't b shocked if bitcoin has been used in corruption.

[kpcian]

In a real life,  we are experienced in the corruption. It's happening everywhere.
So in a virtual world, it would be easier to run such type of activity. Some greedy people who are always and all the ways to make their money through corruption.
So bitcoin is not out of this.