tamarindbleu
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July 22, 2017, 04:10:05 AM |
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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's impossible. Bitcoin isn't controlled by officials/government thus corruption isn't possible. Thogh its developer can do that, he won't and don't do it since he's rich enough so there is no reason for him to do that thing.
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Vixmore
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July 22, 2017, 04:39:17 AM |
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Corruption is a naturally thing for all humans - it will happen no matter what we do. However, I do not think that bitcoin will be affected by this as it is completely decentralised, 'completely'. This is great as no bank or government can manipulate the price and value of bitcoins. Only the developers could mess with the bitcoin network, but I do not think that they would as then they would be compromising the whole reason why bitcoin is so good - its anonymity and decentralised nature. Many people invest in bitcoin as it promises these advantages over wired transfer - and I do believe that this will be the future and cryptocurrencies will replace all cash currencies and wired transfers.
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aoihs00
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July 22, 2017, 05:45:29 AM |
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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 say corruption is everywhere it is driven by greed. But luckily bitcoin is decentralized which means no banks are involved, banks are also corrupt for my opinion. I don't think that corruption is involved yet to bitcoins or any other coins, maybe the maker or something. But lets hope corruption will not occur in this industry. You are completely taking it in wrong way. Corruption is not just related to bitcoin industry but the way it is being used by others or in the black market. When something is used in the illegal activities then that is corruption of bitcoin or any related currency. Decentralisation is not limit it is actually start of corruption world because when there is anonymous nature it means you can actually take advantage of saving your ass from getting caught. Just think.
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Bay_Harbour_Butcher
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July 22, 2017, 05:54:18 AM |
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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?
That is one of the weaknesses of bitcoin that can be misused by corrupt people, because if they save money from corruption in the form of bitcoin, of course it will be very difficult to be tracked, unlike the bank that has cooperated with the government, so easily the government Can track the money of corruption and immediately freeze it
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Anegg
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July 22, 2017, 06:17:00 AM |
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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?
Of course, everything that has a value can be used in good and bad ways. Bitcoin is considered money so, therefore, it can be used to corrupt people. Also, since Bitcoin is a cryptocurrency, some people would also use Bitcoin as a form of avoiding tax. In some places, people would convert their fiat to crypto and since the government sees that they have no money, they won't tax him/her. Corrupt people would also see Bitcoin as more useful than other online forms of payment since it is pretty anonymous, especially with the new influx of mixing services which help hide you even further.
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MoneyIsDebt
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July 22, 2017, 07:03:59 AM |
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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 say corruption is everywhere it is driven by greed. But luckily bitcoin is decentralized which means no banks are involved, banks are also corrupt for my opinion. I don't think that corruption is involved yet to bitcoins or any other coins, maybe the maker or something. But lets hope corruption will not occur in this industry. yes it is and that is the only drawback of it that being decentralized where it has many advantages it also has many disadvantage and main disadvantage is that it can be used in corruption and can be used as a black money because it doesn't takes any information about the source of income and informations about the users who are using it and i am hoping that developer of bitcoin will be focusing on this matter back channel for improving integrity of bitcoin.
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BeGoods
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July 22, 2017, 08:11:42 AM |
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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 say corruption is everywhere it is driven by greed. But luckily bitcoin is decentralized which means no banks are involved, banks are also corrupt for my opinion. I don't think that corruption is involved yet to bitcoins or any other coins, maybe the maker or something. But lets hope corruption will not occur in this industry. Yeah corruption certainly also utilizes the help of banks to save their corrupt money. But when they get caught, of course, the money they keep in the bank will also disappear because of course their money will be confiscated by the government. Perhaps corruptors will find another way to keep their money seized despite corruption. Ie using bitcoin?
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qwertyup23
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July 22, 2017, 09:51:25 AM |
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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 say corruption is everywhere it is driven by greed. But luckily bitcoin is decentralized which means no banks are involved, banks are also corrupt for my opinion. I don't think that corruption is involved yet to bitcoins or any other coins, maybe the maker or something. But lets hope corruption will not occur in this industry. I agree, due to bitcoin being decentralized, the government has no means of intervening the market thus, lowering the potential chance of corruption. But since the price of bitcoins are highly volatile, corruption is still inevitable. Not to mention, due to the identities of people being unknown when transacting, this can also lead to illegal trading and transactions (i.e. money laundering, providing funds to criminal activities, etc.).
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stompix
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July 22, 2017, 01:15:49 PM |
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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 say corruption is everywhere it is driven by greed. But luckily bitcoin is decentralized which means no banks are involved, banks are also corrupt for my opinion. I don't think that corruption is involved yet to bitcoins or any other coins, maybe the maker or something. But lets hope corruption will not occur in this industry. I agree, due to bitcoin being decentralized, the government has no means of intervening the market thus, lowering the potential chance of corruption. But since the price of bitcoins are highly volatile, corruption is still inevitable. Not to mention, due to the identities of people being unknown when transacting, this can also lead to illegal trading and transactions (i.e. money laundering, providing funds to criminal activities, etc.). You're funny. Really. How does a decentralized currency lower corruption? Will officials stop taking bribes cause of it? Will they stop awarding fake contracts, hiring their relatives and so on? Bitcoin will do nothing against corruption. It actually may encourage since as I would do, officials will have a qr code on their desk and when you come in they point at the code with a wink. How are the police going to prove the official took the bribe and that he is in control of the bitcoins received?
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rhodelmabanal
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July 22, 2017, 01:24:27 PM |
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Corruption is to Bitcoin like air is to a bird. It's the natural environment. Greed, lack of regulation, possible anonymity, irreversible transactions. It's a perfect formula.
As an actual ledger it can't be corrupted and that may well help reduce overall corruption elsewhere. Many things surrounding it carry a fairly nasty smell.
I think Bitcoin has a fair regulation, we could feel or smell corruption for this it's because we could not hear news for this its on the internet.
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emezh10
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July 22, 2017, 01:46:21 PM |
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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.
As we all know bitcoin is a crpto-currency which is quite aligned to the development of technology and the developers of bitcoin develops bitcoin in a more secure and the transactions are private. So it can be a tool or bitcoin can serve as a mode of corruption by others. But it might be complicated because if you will used bitcoin in a form of transaction you may think that it is just more on an investing field and trading rather than in corruption.
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mornabo
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July 22, 2017, 03:43:38 PM |
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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 say corruption is everywhere it is driven by greed. But luckily bitcoin is decentralized which means no banks are involved, banks are also corrupt for my opinion. I don't think that corruption is involved yet to bitcoins or any other coins, maybe the maker or something. But lets hope corruption will not occur in this industry. I think at this time the bank will not be too helpful to save the results of corruption and will be very visible if you do money laundering and keep it in the bank. Because of course the bank can be transparent if requested by the government to see suspicious transactions. With bitcoin will all be a secret. Maybe bitcoin will lead #imo
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cotton ball
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July 22, 2017, 05:01:18 PM |
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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 say corruption is everywhere it is driven by greed. But luckily bitcoin is decentralized which means no banks are involved, banks are also corrupt for my opinion. I don't think that corruption is involved yet to bitcoins or any other coins, maybe the maker or something. But lets hope corruption will not occur in this industry. I think at this time the bank will not be too helpful to save the results of corruption and will be very visible if you do money laundering and keep it in the bank. Because of course the bank can be transparent if requested by the government to see suspicious transactions. With bitcoin will all be a secret. Maybe bitcoin will lead #imo The anonymous nature of bitcoin will facilitate the pattern of corruption, from here we understand that bitcoin can lead, but it will not apply to government officials and taxpayers because the government will definitely tighten the bitcoin regulations in the future, no matter how much money they launder will still exist one issue where large nominals are always the target of hackers and will not make corruption convenient in bitcoin.
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PokerFace3
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July 22, 2017, 06:10:06 PM |
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I think so. Well, there are several ways to make your bitcoin transaction undetectable, and I think it can be used for corruption. Well, basically bitcoin is also commonly used for illegal transactions, so of course it can be used for corruption purposes.
Yes, in that case bitcoins are not to be blamed. The anonymity is a great feature though. If we talk about corruption, currently there are numerous instances where corruption on large scale is done via fiat currency. We can’t blame the means of corruption. Evil minds are responsible for corruption. Black money is the paper money that is illegally used. So there are multiple other ways of committing corruption with fiat currency. Yes I agree with you there is no doubt that fiat is commonly used for a large scale corruption and I think as far as I have heard in the news and watched in the movies the international smuggling and other illegal activities deals in dollars which is currently the strongest economy in the world. It is all about good mind good find and same with the evil minded people.
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Farma
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July 22, 2017, 06:16:09 PM |
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If people intend to do so, of course it can lead to corruption. One of the hallmarks of bitcoin, it is very difficult to trace the transactions. This makes a lot of people think to launder the money from bitcoin for the transaction is not traced.
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Vika0170
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July 22, 2017, 06:55:39 PM |
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If people intend to do so, of course it can lead to corruption. One of the hallmarks of bitcoin, it is very difficult to trace the transactions. This makes a lot of people think to launder the money from bitcoin for the transaction is not traced.
Yes, bitcoin can be used in any illegal operations. But this does not make bitcoin bad. Dollars are also used for terrorism and corruption. Bitcoin is just a tool that everyone uses in their own way.
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Rinder
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July 22, 2017, 09:29:02 PM |
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Well this question has its answer already, bitcoin is money, soo the difference is digital money, how many scams had happened on the last 7 years with a lot different projects supporting bitcoin and crypto? I dont see why would bitcoin be able to stop corruption, is the same question about the use of bitcoin, some says its connected to dark marketplace, but each user is able to choose where to spend its coins the same happens with fiat for a long period.
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Tamilson
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July 23, 2017, 03:15:29 AM |
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If people intend to do so, of course it can lead to corruption. One of the hallmarks of bitcoin, it is very difficult to trace the transactions. This makes a lot of people think to launder the money from bitcoin for the transaction is not traced.
Yes, bitcoin can be used in any illegal operations. But this does not make bitcoin bad. Dollars are also used for terrorism and corruption. Bitcoin is just a tool that everyone uses in their own way. Bitcoin will have a bad image if its misuse just like fiat when you use it to illegal. As bitcoin is anonymous and decentralized and yeah it can really be use in illegal as no one can trace it. Bitcoin shouldnt be abuse but no one can stop this. Lets just mind all our business. One thing also if bitcoin will be centralized its not far to use this for corruption as many of our government officials have masters the corruption thing. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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Happy Coding Life ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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KnightElite
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July 23, 2017, 03:51:26 AM |
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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 the government control the bitcoin, there are many possibilities that the bitcoin lead to corruption but the government cannot control the bitcoin so there is no corruption that will happen.
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crazycatwoman03
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July 23, 2017, 04:47:39 AM |
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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 the government control the bitcoin, there are many possibilities that the bitcoin lead to corruption but the government cannot control the bitcoin so there is no corruption that will happen. I agree with that, it is possible that bitcoin can also lead to corruption, just like the other regular currencies, if ever the government decided to recognize and used it also. Even if the use of bitcoin is anonymous, it is not impossible for those greedy people to make it happen. I also believe that their greediness will pushed and drove them to find a way. We know how powerful bitcoin is, the usage of it, even if it is still limited, has led many people to gain more than they can on depending at regular currencies. The investment in bitcoin and other tokens in the crypto world had led many people to have what they always wanted and to fulfill their dreams.
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INVALID BBCODE: close of unopened tag in table (1)
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