Can Bitcoin also lead to corruption ?

[cluit]

Any valuable thing and currency including bitcoin can be used for corruption because of human greed. Corruption will exist as long as there is human greed.

The best answer to this thread! Indeed corruption is not related to any currency or mode of payments etc, it is related to human nature. The greed is in us, not in any currency. We are driven mad by this greed of becoming rich in short time. Corruption can only end if we all stop doing evil deeds and get back to our right tracks told by our religions.

[PizzaBTC]

Bitcoin not only leads to corruption but it fosters it. Since bitcoin assures you anonymity all you have to do is loot public funds, and buy bitcoins with it. There would be 98% assurance that you’re never going to be caught.

[Samarkand]

Bitcoin not only leads to corruption but it fosters it. Since bitcoin assures you anonymity all you have to do is loot public funds, and buy bitcoins with it. There would be 98% assurance that you’re never going to be caught.

This depends heavily on the way that you use to acquire your Bitcoins. If you wire your funds to an exchange, you can be caught quite easily, because
most on-ramps for fiat are following KYC/AML requirements, which makes you lose your anonymity.
There are several blockchain analytics companies, which track funds (e.g. for the IRS), which is actually facilitated by the
public nature of the BTC blockchain.

Take a look at:
https://www.chainalysis.com/

Your assumption might be true, if you buy your Bitcoins using Localbitcoins or a Bitcoin ATM without verification.

[nexus99]

Corruption can actually THRIVE with the mainstream use of bitcoin. Think of all these anonymous operations government authorities can process to stuff each others pockets with money

[SoulEaterRR]

Bitcoin can lead to corruption, because it is not even a currency, but a very valuable investment. This is an excellent opportunity to develop corruption through its anonymity.

[Krispin47]

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?

How would you know. We all know that bitcoin is money. So if you can get many bitcoins. Or you teach many people about bitcoin. Maybe their status in life is being stable especially in their financial needs. Btctalk can give money so how can it lead to poverty. I dont think so. This is just my opinion.

[Tungsten-1]

Corruption can actually THRIVE with the mainstream use of bitcoin. Think of all these anonymous operations government authorities can process to stuff each others pockets with money

Even still when the bitcoins are not very common or legal in many countries, people are doing corruption day and night without even coming into anyone’s notice. Bitcoins are better than fiat and I don’t think so there should be any problem in making such a cool currency legal around the globe.

[unknown-user]

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?

Ofcourse, as long as money is involved into a certain thing, organization or business, corruption is expected. Money is so powerful, and yes, even if Bitcoin is decentralized, there is a possibility . There might be ccorruption in campaigns or bounties when it come on the tokens or reward to be distributed. No one knows where it  might particularly to happen.

[lovesybitz]

i wonder why bitcoin always be linked with things that are not good such as corruption, money laundering or drugs but in this case in my point of view bitcoin cannot lead people to corruption because it all pure from the bottom of their heart to starting corruption but indeed bitcoin could be the tool to storing corruption money

This question has been asked several times, my opinion with this things it is because was open to everyone whether the individuals are good or bad bitcoin is just a tools where it depends on the person how they're gonna use, if it is for good purposes or illegal activity.

[doomloop]

well bitcoin looks as the safe and secure way of economy and I don’t think it is going to lead towards bitcoin ever, it will keep the using circle of the bitcoin save and secure from the germs of the corruption because it is very safe currency and the reason behind is not the corruption at all mostly people use fiat as corruption and I never heard about bitcoin corruption and it will never happen ever.

[speem28]

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?

I think it's more difficult to corrupt if the money is in the form of Bitcoin, because the bitcoin transaction is transparent and can be seen by the public. So we can know to which address the money is sent. If we are still using paper money then we will be more difficult to trace the transaction. Because most of transactions using fiat are not recorded.

Yes, if it's in the form of bitcoin it will be hard to corrupt but if they convert their laundered or corrupted fiat money into bitcoin so that they can hide it because we all know that bitcoin transaction is hard to trace, so bitcoin can be used as a way to corruption. In terms of fiat money, I guess you are talking about small transactions or transactions that involves small money that is why you can say that it is not being recorded.

[dream_maker82]

It seems to me that bitcoin is already very widely used in corruption because of human greed. As long as people are greedy, they will use everything that has value for corruption.

[Asuka]

It depends on the person who use a bitcoin, but i don't think so that people can corrupt through bitcoin, i mean how people do that? Bitcoin is not in there hand, it is in the wallet so i think it is hard to corrupt their bitcoin.

[Wingo]

It can be used in corruption practices. Its anonimity results to easier use for corruption. A disadvantage that depends on the user of the bitcoin. Everything that has a value like bitcoin can be used in corruption, there are greedy people everywhere we just need to be responsible users of bitcoin.

[okissabam]

Yes it could lead to the corruption especially if the government would be able to take hold of it. Everything that comes along the way that has the government holding it will always lead to corruption because they know there is money there.

[zelig0320]

as far as now,i think blockchain can not change our humanity and our social system

[Jessy Mediola]

i wonder why bitcoin always be linked with things that are not good such as corruption, money laundering or drugs but in this case in my point of view bitcoin cannot lead people to corruption because it all pure from the bottom of their heart to starting corruption but indeed bitcoin could be the tool to storing corruption money

Maybe yes. Because if its become legal the government will take hold of bitcoin. But if many people using it instead of stsying in social media. Stay in bitcoi  to earn money so that you can earn and it can help you especially in financial aspect.

[magmar]

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?

Maybe it can lead to corruption if and only if a greedy person will be involved in this like the government fpr example. The good thing about bitcoin is they are decentralized which means we are the one who controls our money, even if we are greedy to gain it we are the one who will be damaged no harm done to other people. And so far I do not heard some gossips that there is a corruption happeningin this business and I know as long as we are contented to it, it will be successful in the future.

[Kousei23]

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?

For me it is a no because we all know that bitcoin isn't under the government hands so that they didn't able to manipulate it or even get some of it. Bitcoin is a digital cryptocurrency that is online or with technology that is depend on the people if it will be gone or not. So if it corrupted it is because the people who are using it.

[alexsandria]

Well, we see where is corruption than definitely corruption is depend on money, and as you said in this thread, Bitcoin is also name of money, than if bitcoin is use for bad thing like corruption, than it is not mistake of bitcoin, it is our mistake where we use bitcoin for corruption.     

yes that is right and bitcoin is money, so it can lead corruption but i think we cannot blame bitcoin for that, as if bitcoin was not introduce they will then find other ways for corruption. but they are not going to stop corruption, as corruption is in their nature.

It's not bitcoins fault, corruption has been with mankind thousand of years and I don't think using bitcoin is an exception to that. As you have said, bitcoin is money, so if greed takes over from someone's mind, people are more willing to act dishonest in return of bitcoin for personal gain.

Yes, corruption will exist with any currency as long as there is demand and greed. Few can refuse from temptation.

I think yes it will cause us soke corruption because of the people that is very greedy in bitcoin. Many people that is overcome by their greed cause it because of playing gambling and very addicted. I think the addict ones are can be the main reasons or can be one of the reason of being corrupt.