Can Bitcoin also lead to corruption ?

[PokerFace3]

Bitcoin is a type of currency, and any type of currency can lead to corruption, so yeah bitcoin also may lead to corruption

Bitcoin is not using for corruption because bitcoin is decentralized everybody can use bitcoin so it is not new that bitcoin or we can mention that bitcoin is using for money corruption.

That is not true, I think. There are hundreds and thousands of complaints about money corruption and if you are not agreeing then just visit deep web where there are so many drug deals, crimes, human trafficking and much more. Corruption comes with money, it is just a matter of choice how you choose.

Bitcoin is just another format of money hence it can be misused by wrong people obviously. When black money is possible with fiats then it will be possible with any format of currency also so with bitcoins too.

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[Sithara007]

You can't say it use for corruption, bitcoins are use for some negative activities like money laundering or drugs. Its all happening on internet and we can't blame internet for it. The identity of the person involve in corruption (using bitcoins ) cant be traced but bitcoin transactions are anonymous.There's some disadvantage of bitcoins.

Earlier Bitcoins used to be directed towards these activities. But in due course of time, the law enforcement agencies around the world developed methods to trace back Bitcoin transactions to the individuals. Nowadays currencies which are even more anonymous when compared to Bitcoin (such as Zcash, DeepOnion, Blackbytes, and Monero) are being used for these activities.

[mrcash02]

Bitcoin is a type of currency, and any type of currency can lead to corruption, so yeah bitcoin also may lead to corruption

Bitcoin is not using for corruption because bitcoin is decentralized everybody can use bitcoin so it is not new that bitcoin or we can mention that bitcoin is using for money corruption.

That is not true, I think. There are hundreds and thousands of complaints about money corruption and if you are not agreeing then just visit deep web where there are so many drug deals, crimes, human trafficking and much more. Corruption comes with money, it is just a matter of choice how you choose.

Bitcoin is just another format of money hence it can be misused by wrong people obviously. When black money is possible with fiats then it will be possible with any format of currency also so with bitcoins too.

Even if there weren't money the corruption would still exist. Corruption doesn't exist because of money, corruption exist because the weak human nature of some people. In a physical world there will be always something people want, desire. If it's not money it can be a piece of land, a beautiful house/building, to have other people, like a wife, this kind of thing... And if they are corrupt they will do anything to achieve what they want.

It's not money or Bitcoin fault.

[wareen]

Bitcoin is a type of currency, and any type of currency can lead to corruption, so yeah bitcoin also may lead to corruption

Bitcoin is not using for corruption because bitcoin is decentralized everybody can use bitcoin so it is not new that bitcoin or we can mention that bitcoin is using for money corruption.

That is not true, I think. There are hundreds and thousands of complaints about money corruption and if you are not agreeing then just visit deep web where there are so many drug deals, crimes, human trafficking and much more. Corruption comes with money, it is just a matter of choice how you choose.

Bitcoin is just another format of money hence it can be misused by wrong people obviously. When black money is possible with fiats then it will be possible with any format of currency also so with bitcoins too.

In my opinion, Bitcoin also an asset like Gold or a currency like FIAT, it does not want to creates a place for UG and darkweb. Everything depends on your usage, good or bad is your choice.

[michnelli6]

It can occur when the rat rat nation is aware of bitcoin, then the nation is destroyed because of people who use bitcoin as a device of corruption.

There are people using bitcoin for good, and there are also some good for nothing fools that will use it for evil things. Well, same thing applies to everything in life; school is for education on positive way of living, but there are people who go to learn negative things. Money is for good things, but there are people that use it for the bad things. It’s just natural.

[patt0]

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?

What do you mean by corruption? Cheating the network or something like like. Putting bad code on it and try to exploit it? I don't think that can happen, because everything is public, so someone would know. As for the blockchain network itself, I hear that it would cost someon $30M or something like that, to produce a single "false" bitcoin. So I don't think corruption could enter in BTC. If you are saying using it in a corrupt way, like money laundry etc, then yes, it can and it will happen. But that can happen with any currency is not a problem of BTC itself.

[_Dawid_]

For sure in my opinion. If now or in the past Bitcoin was used to buy illegal things, why not use its to  corruption?
Actually Bitcoin's system support that kinda  activity. And I think that it is one of few main things why many people afraid of that all crypto.

[Superways]

Bitcoin is a currency so what makes you think it would be safe from corruption? Isn't buying illegal things and money laundering through bitcoin a form of corruption? Bitcoin is not leading to corruption, it IS drenched in corruption the moment people realize they can do all sort of things in bitcoin.

All illegal activities are fine except those money laundering, child pornography, torturing etc. type things.

Yes bitcoins can lead to corruption and other cybercrime activities in the world. Bribery is one of the small activity which is done anonymously, criminals can try to hack government official’s systems and digital wallets and sniff their private files than blackmail them for ransom in the form of bitcoins which lead them to digital corruption.

[drachman]

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?

Yes, I believe that there's a possibility becauae still, it involves money. And as long as money is involved into something, corruption will always be present. I'm nit sure on how corruption works in Bitcoin since it is decentralized, maybe it is on ICO projects or campaigns which is related to Bitcoin something like that.

Corruption in bitcoin will work exactly as corruption in fiat, a politician is going to receive a payment in bitcoin or with an anonymous coin like monero or dash and then they are going to erase their tracks and finally they are going to enjoy that money with impunity.

Exactly, the only difference is that they can make a faster transaction and even an anonymous one, its their option but when we make illegal activities we are subject to one punishment depending on the law of our country and that is regardless of what currency we are using to carry out transactions.

True but chain analysis is going to become a lot harder when we get a lot more people using bitcoin just for the sheer amount of data that they will need to analyze, so I think that unfortunately bitcoin is going to be eventually used by corrupt people all over the world to hide their crimes and illegal activities.

[lionheart89]

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 bitcoin can be used as a tool of corruption transactions. why? because in absence of a single admin who manages, making bitcoin transactions very difficult to trace.

[Pubg_man205]

Any currency can lead to corruption, since everything depends on a person's greed, and not on what currency is used in the country. As long as people are greedy, corruption will exist.

[asriloni]

Any currency can lead to corruption, since everything depends on a person's greed, and not on what currency is used in the country. As long as people are greedy, corruption will exist.

but bitcoin blockchain system is transparent to public, if government want to secure their money from corruption, they will announce the address of where the bitcoin for a project is stored and people or citizen could watch it. if there's strange movement, the citizen could report to the government.
bitcoin could prevent corruption than leading to corruption, even bitcoin mixing could still be traced by using complicated algorithm.

[sampalokmix]

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, so long as Bitcoin remains precious and valuable not everyone will pursue it with a clean mind and so I can believe there can be elements of corruption that surrounds Bitcoin.

True and since bitcoin favors in anonymity which can trigger the fact that bitcoin can be home for the people who took credits that is not really for them. Corruption may be involved her since bitcoin can provide a lot of profit which is undoubtedly better than the jobs for the certain field that we can be aligned.

[Kersh768]

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 is really hard to say that it is not possible to happen. I believe that as long as there's an involvement of money, there'll always be corruption. In Bitcoin, surely it is rare since everything is publicized such as transactions but still, it is possible to happen as what I've said. There are already cases reported in altcoins that has a strong blockchain technology, therefore, it is also possible to happen in Bitcoin.

[kucritt]

yes bitcoin can be the money that use to corruption, bitcoin is anonymously, so if they use bitcoin as the payment of corruption they can hide their identity and government hard to track that transaction

[samputin]

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?

Yeah your correct., and ofcourse it can lead into corruption. Because corruption is not only on the governments it can be happen even inside our house. Being a greedy on money can triggered to people to make or decide to corrupt. And it may happen when the wallets are not transparent to all transactions even the other site that connected on coins transaction.

[VegaAISolutions]

no technology is corruption proof and the old Axiom is true that power corrupts absolutely... nothing is more powerful than having access to a digital currency system that has literally no regulations and no borders. the American FBI agents who took the Bitcoin from Silk Road they themselves were too tempted to not use and laundry that money because after all it was just a digital currency right? North Korea regularly deploys cyber attacks for Bitcoin and if you ask the right people so does Russia... the point is that this technology exists in a gray area that can be exploited by both people looking to solve problems and people looking to create them.

[Mr.Anonymous]

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?

Yeah your correct., and ofcourse it can lead into corruption. Because corruption is not only on the governments it can be happen even inside our house. Being a greedy on money can triggered to people to make or decide to corrupt. And it may happen when the wallets are not transparent to all transactions even the other site that connected on coins transaction.

For the government, we will call that is the corruption, but for people normal, we will call that is the money laundering or transfer money for illegal. Because if you do not need to avoid the track from someone, why do you need to use those functions in Bitcoin? Yeah, because you want to do one of thing as my said.

[tengek37]

Can. Money laundering can be done by buying bitcoin and will not be traced like a regular currency, does not rule out the possibility of corruptors glancing bitcoin to secure the results of their corruption. Because of that bitcoin is not legalized in my country.

[djsugar]

Bitcoin can easily lead to corruption just like any monetary system. Mixers can help in keeping anonymity as well. Every monetary system can lead to corruption, it is not like Bitcoin is giving opportunity. Still most of the people prefer cash for small scale corruption and bank accounts for large cale corruption. It is not new.