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Author Topic: Can Bitcoin also lead to corruption ?  (Read 50873 times)
Kousei23
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August 25, 2017, 01:36:20 AM
 #741

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.

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August 25, 2017, 01:43:45 AM
 #742

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.
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August 25, 2017, 01:49:44 AM
 #743

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.

Yes. I also believe that human greed can be one of the reasons to become corrupt because many people will be temp to perform negative actions as well as plunder or scamming because of the greediness. But I can say that this corruption that is arising will be healed or will be aid because different people are moving into it.




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August 25, 2017, 02:05:00 AM
 #744

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?

In my opinion yes, very possible for bitcoin lead to corruption. Actually not all people know about bitcoin, if a person do a corruption and convert all his money from corruption into bitcoin, his money will be save because it will be hard to trace where is the money goes. Bitcoin is a perfect way to money laundry thpugh, but i hope no one use bitcoin as a crime.


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August 25, 2017, 02:12:23 AM
 #745

Yes. Absolutely possible. In my opinion it is in human nature. It is inevitable. Every circumstances has the possibility to be place on a situation that everyone states here. As long as someone would take advantage of something or someone for their own good , which i pressume is typical and known in every business, then curruption will always be there. Again it is inevitable may it be a small time or big time it always happens in everyday living and so could happen in bitcoin industry.

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August 25, 2017, 02:25:24 AM
 #746

Yes even crypto currencies can be affected by corruption after all it is just a currency and it all depends on the user on how or what do they use it. There are even lots of scam that is occuring with bitcoin like for example ponzi schemes suck ws cloud mining, hyip an other pyramid schemes that offers you to earn big amount of bitcoin that is to good to be true. Even fiat currencies can be used for corruption so its also the same with crypto currencies as long as there are users good or bad they can use their money however they like.

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August 25, 2017, 09:33:20 AM
 #747

What kind of corruptions you are talking about? Bribes? Money laundering? Insider trading? Every single one of those existed before bitcoin and they will exist after it. If bitcoin made being corrupted easier, so what? Internet also made so many crimes possible. People even can hire hitmen from the internet. Do we blame the internet for that? No. Every technological advancement comes with pros&cons.

Exactly once, it's all back to the user again, if used for good then it will be good, but when used for bad things it will also be able to ruin it all this tergantuing from the purpose of bitcoin users themselves
Obviously! The objects themselves are never bad. We can never curse any creation for harming mankind for instance with a knife you cut fruits and murder someone as well, so the problem is not with knife rather with the user. Same is the case with bitcoins. Before their creation, corruption was still there.
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August 25, 2017, 02:58:21 PM
 #748

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.
yes you are right bitcoin is being use by thousands of the people now and they are using bitcoin for different purposes not only for trading and investing so anything can happen in it. Corruption is a big problem today in a lot of countries and they are trying to overtake this issue and one more thing bitcoin is a secure but a private currency anything can happen through it and we cannot blame the innocent bitcoin for this evil.
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August 25, 2017, 09:18:28 PM
 #749

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,  but what it is today is very different from the government.There is lesser percentage compared to the  corruption in the government bacause the money they corrupt comes from the taxes where people mandatoryly needs to pay but here no one collects money.

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August 25, 2017, 10:38:52 PM
 #750

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.
Bitcoin is not meant to be used in corruption, but as you know human are so intelligent, they always find ways to make every good thing and profitable thing into illegal way, yes you are tight bitcoin is used in corruption but look it is bitcoin’s fault, if bitcoin is become legal in any country then it is also the loss of its users so it is good for bitcoin to work exactly the same way as it is.
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August 25, 2017, 11:17:34 PM
 #751

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.
I think even though bitcoin is not directly under government but surely there are some people who utilize bitcoin for illegal activities like corruption, who know? Bitcoin has anonymous and decentralized properties, if bitcoin is already famous for free and secret currency, it is not impossible bitcoin can lead corruption right ?
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August 25, 2017, 11:29:04 PM
 #752

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 it is going to happen but I do not care, corruption already happens everywhere it is just the reality of life and you need to accept it and move on, that does not mean you need to corrupt yourself but accept the fact that corruption is inevitable.

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August 25, 2017, 11:48:23 PM
 #753

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?
Corruption is mainly a result of being greedy for too much power or money which is like an obsession for more wants rather than needs.  This scenario is mostly or usually happening within the society especially to the government. I think with bitcoin's decentralization that makes it apart from the government, corruption might be abducted. But within bitcoin users I think it can also happen through spammers and hackers that stole earnings and assets just to satisfy their own cravings for money. Too much usage can really lead to bad effect.
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August 26, 2017, 04:50:42 AM
 #754

Yes true, when corruptors know that saving money to bitcoin can not be traced, it will be a lot of corruptors who do it. This is what the state must immediately do is make a special regulation about bitcoin so it is not used as money laundering the corrupt.


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August 26, 2017, 08:51:45 AM
 #755

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.
It is not only the case with bitcoins rather people have many ways of hiding their corruption. For instance many rich people had been declared as the owners of offshore companies in PANAMA LEAKS. Money laundering and keeping money in SWISS banks is also another example of hiding your corruption.
Chikitita2004
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August 26, 2017, 11:17:55 AM
 #756

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 you are taking about greed? I dont see where to apply corruption here. Are you trying to say those who manage campaigns or those who've been entrusted with huge amount of coins to be distributed? I think they are accountable for all the accountings of every penny they distribute.

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August 26, 2017, 02:53:03 PM
 #757

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?
Corruption is existing from the beginning.Bitcoin has nothing to do with its progress.Even if the corrupted people wants them to be funded with bitcoin,it would not be useful for them since bitcoin is pseudo anonymous and it could be easily traced.Bitcoin is free to use for any one either for good or for bad.It depends upon how people use it and bitcoin could not be blamed for it.
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August 26, 2017, 02:58:58 PM
 #758

Money itself is not the roots of corruption neither can bitcoin leads to corruption. The roots of corruption is greedy and selfishness. Many people who are born into influence and wealthy family are corrupt because corruption has it roots in greedy
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August 26, 2017, 09:37:29 PM
 #759

What kind of corruptions you are talking about? Bribes? Money laundering? Insider trading? Every single one of those existed before bitcoin and they will exist after it. If bitcoin made being corrupted easier, so what? Internet also made so many crimes possible. People even can hire hitmen from the internet. Do we blame the internet for that? No. Every technological advancement comes with pros&cons.

Exactly once, it's all back to the user again, if used for good then it will be good, but when used for bad things it will also be able to ruin it all this tergantuing from the purpose of bitcoin users themselves
Obviously! The objects themselves are never bad. We can never curse any creation for harming mankind for instance with a knife you cut fruits and murder someone as well, so the problem is not with knife rather with the user. Same is the case with bitcoins. Before their creation, corruption was still there.
You are right. Problem is with us and our minds. When it was created even then people used to involve themselves in corruption. And that example of knife was best. It is absolutely made for betterment of mankind but even then there are people are there who can make bad use of it. So I think we should be positive by ourselves.
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August 26, 2017, 11:11:22 PM
 #760

Money itself is not the roots of corruption neither can bitcoin leads to corruption. The roots of corruption is greedy and selfishness. Many people who are born into influence and wealthy family are corrupt because corruption has it roots in greedy
I respect your thoughts and also agree with those. There are two phases of everything existing in this world. A good one and a bad one. It depends on us that which phase we choose. If we choose to go towards good phase then there will be no corruption. But if the same thing is used by a person with ugly mind and ugly ideas in his mind then anything can be used as a medium foe corruption.
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