Can Bitcoin also lead to corruption ?

[Kisanaq]

Characteristic of corruptors is trying to save money as safe as possible, before they save in foreign banks or do money laundering. but I'm not sure the corruptors want to save money to bitcoin because they understand there's a risk if the bitcoin price drops.

[mongkie]

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?

the word "lead" is not acceptable. corruption is present even in the absence of bitcoin. leading to corruption means bitcoin is designed to corrupt which is not the proper intention of satoshi upon creating bitcoin. it may be a means or accessory to corrupt but bitcoin cant lead to corruption it depends on the holder if they will use it to launder money.  

[AngelSky]

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?

the word "lead" is not acceptable. corruption is present even in the absence of bitcoin. leading to corruption means bitcoin is designed to corrupt which is not the proper intention of satoshi upon creating bitcoin. it may be a means or accessory to corrupt but bitcoin cant lead to corruption it depends on the holder if they will use it to launder money.  

Yes right. The price of the bitcoin will not responsible for the corruption. Corruption in state is common. It will not cen percentage depond on your bitcoin. Bitcoin is the best source for the investment. Only very few people using the bitcoin for the corruption. Bitcoin only be acceptable currency one day.

[jimbo2000]

It is possible and plausible that bitcoin can be used for corrupt activities and the anonymity of it could be a useful tool for that to be the case.

[bitcoinrays]

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.

OP didn't mentioned any of the bitcoiner or the campaign manager here. He is just trying to say that could bitcoins be accepted as corruption. I think all the bitcoiners here have legal money with all taxation provided. All the people who have the black money stored in bitcoins won't bother to earn more by trading or here on this forum. They already have enough money so they won't come here. They might just use bitcoins to store all their black money.

[ringgo96]

it might be possible if the bitcoin leads to corruption, because bitcoin has yielded considerable and high yields. especially if the bitcoin is used by the greedy rich people for sure, arise is corruption.
hopefully something like this will never happen in the bitcoin world.

[Kevondo]

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.

Yeah for sure you are right. Bitcoin is being use by everyone and no one ever used bitcoin for the corruption, some of the bad politicians are taking bitcoin for the corruptions but I think they are taking the disadvantage of the bitcoin safety that bitcoin is secure and no one will be able to take your personal information and corruption will be easy for them at that time.

[beerlover]

I think it will not lead corruption due to bitcoin community was not covered by any government. However there's a possibility that bitcoin leads corruption if the government of different nation joint forces to take over the power of authority to bitcoin.

Wrong! You can be so corrupt yourself and probably stash funds that belongs to your company or government funds into bitcoin knowing you cannot easily be traced. Bitcoin or no bitcoin, corruption has always been existing and bitcoin cannot in anyway stop it. However, there are ways it can be curtailed and which can easily be done by monitoring and licensing exchanges available in the country. As we all know, some exchanges now will require you to upload a valid ID before you can exchange with your fiat.

[Lpim01]

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.

Because of anonymous identity of any bitcoin holders, it's easily to make those criminal activities without caught by the authorities. Of course, because it is online transaction just a single click transaction is done. And any person can do this, even the authorities because nobody knows what exactly they are doing, and a big possibility that it can lead into corruption.

[fxlatino]

I personally do think that with any new and revolutionary technology such as Bitcoin and comes a double-edged sword where you have technology to better businesses transactions and keeping people anonymous. However, it also helps large mafias to conduct illicit transactions without having to incur expenses associated with guarding money, transporting and so on. Bitcoin allows for a transaction to be sent to anyone located anywhere in the world anonymously and securely.

[Razick]

What kind of a question is this? Do you not see how corrupt this very forum is? Of course Bitcoin leads to corruption. It is in the very nature of how it is built. You cannot get back what you send. This is a scammer's heaven. Essential anonymity and no chargebacks = paradise for criminals and bad people. And now we have things like Monero which are 100% anonymous. Great on both ends of the spectrum, very polarizing indeed.

[drachman]

Corruption is as a result of insatiable want of man. So whether bitcoin or paper money, corruption is born with man. Anyway , for bitcoin, it might be lesser if we guide our wallet very well but once you have been frauded in this digital currency, off we know you can't recover it for now unless there is another technology out there for recovery.

Corruption is born in a lot of ways, most of the time the people that are the ones committing the act of corruption are not the ones that benefit directly from it, it is very common that in many countries public officers become corrupt but many times they do not keep the money they give it to their boss who is the one that is corrupting everyone around him.

[jamids]

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 believe so that corruption can also happen to bitcoin but it would be harder compared to corruption using fiat money because transactions in bitcoin can be traced because of blockchain technology. There would be some attempts to do it and make a way to cover it up and some may succeed in doing it. There are always greedy people who will do every thing just to get some money from people who work hard for it.

[Sonin1944]

Sure i think so it may possibly guide to that if huge holders will manipulate and handle bitcoins cost in the market,also if the community by itself encounter some mistakes or intentionally dhut down the system and gather all bitcoins of all users.If govt controlled bitcoins might be an concern to

[Jake052478]

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?

Anything that people can save and spend, corruption will always be there.  The manipulation in the market by big investors of bitcoin is a form of corruptions, isn't it.  So, whether it be physical money or digital currency, there is no difference really.  As long as it can be save or spend... corruption will lurk its way to the system.

[0t3p0t]

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 existed long time ago before Bitcoin was created and circulated. All form of assets or money can possibly be used into corruption. Bitcoin is anonymous in terms of identity and is transparent in terms of transactions since we can see it in blockchain explorer but still cannot identify who really the owner is. That is why governments regulated local exchanges with Know Your Costumer(KYC)/Anti Money Laundering(AML) just like here in my country just to track any suspicious activities on accounts with too good to be true transactions. I am not an expert on any technicalities but I don't have any idea on how they are going to know if we are doing such actions.

[Baehr123456789]

While the future of cryptocurrencies is uncertain, the accusations levied at them by banking executives may say more about the execs than the crypto — do these higher ups truly believe what they are saying or are they members of an unscrupulous industry that’s desperately afraid their era of (relatively) free reign over the economy is coming to an end? As we consider the future of Bitcoin and other cryptocurrencies, the important thing to keep in mind is that while these systems could eventually become corrupt, many of the big banks critical of them already are.

[nikitano]

Almost everything, like bitcoin,  that is mistreated can guide to corruption. The latter can be employed in numerous other diverse approaches medicines, weapons, and so on. If an individual has wicked intentions, he will use it for wicked kinds. If he has excellent intentions, he will use it for great kinds. And that is the cycle of existence. I think that bitcoin ought to be used to end poverty.

[949miner]

Well, corruption is nothing new, and people who do it are always trying to look more ways to make their plans, anyway, bitcoin is money, so they can use it too, but i dont think that it makes more corruption in this world. So it depends on how they are going to use it, but obviously this is a bad thing and it needs to be stopped. But with bitcoin it is more easy to send money, so probaby yes.

[yuriyn]

Yes for positive it is as federal government will dazzled of how much bitcoin value and how a lot bitcoin could give them what they want. Even now government is presently corrupt what far more if the formal currency is bitcoin.