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Author Topic: Can Bitcoin also lead to corruption ?  (Read 50880 times)
LegendOF45
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May 16, 2017, 04:11:23 AM
 #341

With bitcoin we can hide money unbeknownst to anyone, and I'm sure many a corrupter switched their money out of Panama banks to bitcoin, its impact is the price of the bitcoin continues to rise.
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May 16, 2017, 05:14:59 AM
 #342

Bitcoin make the corruption and related activities much easier than the transaction we make through fiat or other fiat system. Even now a major collapse is made by a team sending ransomware and demanding in terms of bitcoin to be on the secure side. Already they have collected 33000$ worth of bitcoin.

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May 16, 2017, 05:47:34 AM
 #343

With bitcoin we can hide money unbeknownst to anyone, and I'm sure many a corrupter switched their money out of Panama banks to bitcoin, its impact is the price of the bitcoin continues to rise.

Let me make this clear. Bitcoin does not lead to corruption but rather it is the greed of people that will lead any kind of currency being used to corruption and bitcoin is not exemption. Greed is the cause of corruption and all currencies including bitcoins will be use for that purposes. As long as people are greedy and corrupt then all financial systems in the world is also tainted by corruption.
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May 16, 2017, 10:05:28 AM
 #344

no. bitcoin doesn't lead to corruption but, bitcoin CAN BE used in illegal or corruption related activities because unlike banks that can return or cancel your transaction, in bitcoin when you send your bitcoins to another address there's no turning back. just like happened this week many people were forced to pay because their files were encryted or locked by a ransomware. for now they collected thousands of dollars and counting in just few days by tgis ransomware

 
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May 16, 2017, 10:31:56 AM
 #345

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?

Definitely it can lead to corruption because of it's decentralization, no one control bitcoin and people can use bitcoin to change their black money into white money. But it doesn't mean that bitcoin is wrong so in my people are wrong who do corruption and we should report them.
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May 17, 2017, 04:52:10 AM
 #346

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?

It really depends on that particular person's intention and motive as will he use it in good or bad. It really is not just Bitcoin but it is also present in different forms that maybe the funds in a company or government.

 
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May 19, 2017, 02:58:32 PM
 #347

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?
Well in mybown personal point of view corruption exist when money is involved definitely corruption may occur or may exist in bitcoin cause it involves money. However if the organizer or people who runs bitcoin has a strict policy against corruption then maybe just maybe it may avoid corruption.

 
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May 19, 2017, 03:49:29 PM
 #348

Yes. Look at Mark Karpeles and other big btc names. Jihan is screwing around with btc and causing drama. I think the big miners and all of them are corrupt. But we fortunately have a voice in that we can easily convert to another coin to get them to listen to us.



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May 19, 2017, 03:58:59 PM
 #349

With bitcoin we can hide money unbeknownst to anyone, and I'm sure many a corrupter switched their money out of Panama banks to bitcoin, its impact is the price of the bitcoin continues to rise.

Let me make this clear. Bitcoin does not lead to corruption but rather it is the greed of people that will lead any kind of currency being used to corruption and bitcoin is not exemption. Greed is the cause of corruption and all currencies including bitcoins will be use for that purposes. As long as people are greedy and corrupt then all financial systems in the world is also tainted by corruption.

People have always been greedy by nature and it develops corruption, regardless of what currency they use, it may even be real estate.

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May 19, 2017, 06:08:19 PM
 #350

Yes. Look at Mark Karpeles and other big btc names. Jihan is screwing around with btc and causing drama. I think the big miners and all of them are corrupt. But we fortunately have a voice in that we can easily convert to another coin to get them to listen to us

I don't think we need them listening to us

They should just get removed and made irrelevant for good, that's the best what we can do. Anyone in their place would be doing essentially the same, it is not because Bitcoin is corrupt or corruptible, it is people themselves who are. And whoever takes their place will behave pretty much along the same lines. So unless the whole system is changed, we will be coming to the same outcome every time. In other words, if we can't change our inner Jihan, we should invent such a system where he will not be heard altogether. No more drama, no more bitching around

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May 20, 2017, 02:12:38 AM
 #351

Corruption with bitcoin is even more easy.There is no refund option with bitcoin so we cant get our stolen money  back if we didnt get colaterral or If he is maybe from same coutry like as and we can proof that but it is really hard to proof it.Also bitcoin is anonymously so nobody cant track it so it is easy for use for mafia.
I don’t think corruption is easier with bitcoin since your transactions are very easy to track unlike what you can do with cash that is completely anonymous, so I think you are mistaken on that.
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May 20, 2017, 04:08:43 AM
 #352

Exactly, because bitcoin is anonymous then people easy to put their money to bitcoin, and also bitcoin is very safe and profitable then they will happy to make bitcoin to hide their money.
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May 20, 2017, 04:35:57 AM
 #353

Corruption with bitcoin is even more easy.There is no refund option with bitcoin so we cant get our stolen money  back if we didnt get colaterral or If he is maybe from same coutry like as and we can proof that but it is really hard to proof it.Also bitcoin is anonymously so nobody cant track it so it is easy for use for mafia.
I don’t think corruption is easier with bitcoin since your transactions are very easy to track unlike what you can do with cash that is completely anonymous, so I think you are mistaken on that.

Well also it is the reverse, btc transaction is very much random and one transaction is different from each other even though with those million transactions. Each transaction is very unique and you can't reverse check anything once it is sent. Cash on the other hand has a chance to be hacked or even so stolen. The only payment we are giving is the transaction fees but is just the coins just keeps on coming over the web.
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May 20, 2017, 05:26:13 AM
 #354

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?
everything in this world is used by the corrupt people for illegal way , if you will go back in the year 2008 then you will found that without the Bitcoin many corrupted people were using the fiat money for the illegal purpose also , so so here we cannot say that Bitcoin will results into  the corrupted people to use the bad things with the Bitcoin .
But here I don't think that the corrupted people cannot use bitcoin for black money or any illegal thing because here in my opinion that many developed countries are accepting the Bitcoin as a legal way of payment so they are making some better rules for is the use of Bitcoins in the legal without any bad use .

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May 20, 2017, 05:56:33 AM
 #355

in my point of view, since it is based on an anonymous user so there is still huge scope to lead any corruption or any other illegal activities. if you can't identify those people then they are really free to occur anything they want..
but keep cool, because bitcoin is a very good platform to invest or trade.
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May 20, 2017, 08:08:37 AM
 #356

Corruption in this dispensation has turn to cultural believe in almost all climes of the society but the degree or intensity differs across board. With bitcoin coning into the picture, then I see people exploiting it to meet their selfish ends and carry out what already is in them. In other words, bitcoin won't lead to corruption but increase it by those who are already in it.
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May 20, 2017, 08:30:05 AM
 #357

Bitcoin and other cryptocurrencies can be used for bribing, not only by benefiting from anonymity, but it's also possible to create crypto laundering schemes. For example, you can create a fake casino and make some fake winnings before exchanging your Bitcoins for fiat. It would be very hard to prove for investigation that your money are dirty. And just receiving the bribe is much safer, since there's no physical evidence unlike with cash.
But it would be wrong to say that Bitcoin causes corruption, it's the people who make this decision, and innocent users should never suffer from any restrictions because of that.

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May 20, 2017, 01:44:06 PM
 #358

Yes. Look at Mark Karpeles and other big btc names. Jihan is screwing around with btc and causing drama. I think the big miners and all of them are corrupt. But we fortunately have a voice in that we can easily convert to another coin to get them to listen to us.
good and bad are parts of our life. i think we cannot blame people if we do not have any proof against them. in fact we cannot blame bitcoin for them. as bitcoin is a currency and every one has the right to use t according to his own wishes. depending that either he is using it for good or bad.

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May 20, 2017, 02:28:02 PM
 #359

I think it depends on the use of it, so bitcoin can be for negative things like corruption or money laundering, or for positive things, all back to each user
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May 20, 2017, 05:23:09 PM
 #360

No! bitcoin doesn't lead to corruption. Corruption is a form of dishonest conduct .All depends on the definition you give to corruption, for corruption is an inbiuld in those people that are corrupt.

 
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