Can Bitcoin also lead to corruption ?

[Finestream]

It can not be because to buy a large amount of bitcoin in an exchange you need to verify the complete data.

This is irregardless of the amount, you can be corrupt with small amount of money and doing it consistently will turn into a bigger amount. Exchanges are more strict now as the government understand the popularity of bitcoin and it's one of the option of the people who wants to launder money so they can continue with their illegal activities, bitcoin can lead to corruption and so as fiat, with that reality there is no difference and it all depends on who will execute the transaction.

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[Sled]

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 it can lead to corruption. I think everything that is related to money can lead to corruption in the future. Because of no government control bitcoin can be use on any illegal activities such as drug trade, etc., that can lead to corruption also.

I agree to that. Since the bitcoin is decentralized and it is hard to trace because of its anonymity so it is hard for the government to monitor it and stop the possible way of illegal activities and if the government official or anyone who will do corruption can use bitcoin to transfer money without leaving any evidences for the authorities in case of investigation.

[Qartersa]

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 agree. Corruption happens everywhere as long as the people concerned allow it to happen. And so I must say that Bitcoin, too, can lead to corruption once it is used as a ploy or vehicle or medium by the people to proliferate their illegal causes. It is in fact of a higher risk of getting caught up with corruption because of its nature that is hard to comprehend, decentralized, and anonymous. 

[SamsungBitcoin]

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 agree. Corruption happens everywhere as long as the people concerned allow it to happen. And so I must say that Bitcoin, too, can lead to corruption once it is used as a ploy or vehicle or medium by the people to proliferate their illegal causes. It is in fact of a higher risk of getting caught up with corruption because of its nature that is hard to comprehend, decentralized, and anonymous. 

Yes has a possibility that government used bitcoin to get huge money or they will get currupt since bitcoin transaction is very hard to trace that is why they can easily take the advantage of that. And i hear that some of our government official are now investing in bitcoin to hide their real income and not reported in their SALN to reduce their tax and take some money in every project that they manage.

[ROB18]

Corruption is something that is created by people, so any system can always be corrupted as it was manage by individuals. The only good thing about bitcoin is, is it currently had independent platform and not controlled by the government.

[Theb]

Corruption is something that is created by people, so any system can always be corrupted as it was manage by individuals. The only good thing about bitcoin is, is it currently had independent platform and not controlled by the government.

Well the idea of it not being controlled by the government will simply make other officials that belong to the government abuse its features. By simply knowing that the government has limited grip on Bitcoin they will certainly make transactions with it as they cannot monitor easily the flow of money when they use Bitcoin as a mode of transacting. But that is just simply a thought to make the argument going as it simply can favor other people who is in attempt of doing corrupt practices.

[posi]

Bitcoin was created as the world decentralized peer to peer payment system which make it impossible for bitcoin to also lead to corruption and the way bitcoin would lead to corruption is if it was change from been control by it users.

[Kompodd]

Greedy people will be corrupted by any currency or a valuable asset in order to get as much money as possible in a dishonest way or solve their problems in this way.

[drachman]

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.

I think this is a fair point, bitcoin is so powerful it allows people to be come rich with their investments and to hold millions of dollars that no one can touch and confiscate that allows for all kind of crimes, but this is not bitcoin fault, humans are at fault for their sinful nature.

[GreatBug]

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, definetely yes, why? This is the best way to be anonymus and that's all... If anyone can pay or make somethink without giving personal data it would make a corruption...

[senne]

Neither Bitcoin nor any other currency leads to corruption; it’s the Personal greed to get more which leads to corruption. Bitcoin is way people can exchange money without disclosing their identity. It can help people in exchanging money leading to corruption but Bitcoin cannot be blamed for that it's one moral value, ethics, greed for more power and money, financial problems and much more leads to corruption. Bitcoin just acts an easy instrument for the one who loves to expand corruption and effects economic development.

[Hamphser]

Neither Bitcoin nor any other currency leads to corruption; it’s the Personal greed to get more which leads to corruption. Bitcoin is way people can exchange money without disclosing their identity. It can help people in exchanging money leading to corruption but Bitcoin cannot be blamed for that it's one moral value, ethics, greed for more power and money, financial problems and much more leads to corruption. Bitcoin just acts an easy instrument for the one who loves to expand corruption and effects economic development.

We cant really blame bitcoin but this thing would really put some negative paint on it specially into those people who arent aware on bitcoins usage and potential specially if media would decide to say negative things about bitcoin then it would really give bad impressions into those people who arent aware on the truth.It is indeed acts as a tool by someone who do have criminal minds on corrupting money since bitcoin would really be the perfect vessel to make such plan. Decentralized and anonymous stuff is the perfect recipe on hiding those funds.

[Rojectime]

Bitcoin isnt various from fiat, if the person does wanna to steal funds, there are a whole lot pyramids utilizing bitcoin soo this is previously occurring for a whilst, aside from these allows get a search at the shitty Ico that constantly come and steal your cash, and the developers just dump their cash and left.

[yohan09]

Perhaps yes, because there are so many feature's in bitcoin that untraceable. If these are the means to transact money, Government may hardly track the crime because its out of their control. If there are positive things to btc negative as well are prone.

[HarleyQuinn9876]

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 bitcoin can not lead to corruption. The cause of corruption is human greed. We can not blame the bitcoin.
Bitcoin is a valuable coin. so that people will use it to corrupt and do illegal activities

[bhadz]

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?

Bitcoin is like just the usual currency of each country has, we can use it for good and we can use it for bad. I don't want to make the reputation of bitcoin here in my place to look bad, I want to spend it on the right thing and use. But we can't stop those people that are using bitcoin for money laundering and corruption although I doubt it that there's a politician here in my country that knows bitcoin.

[Mahanton]

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 bitcoin can not lead to corruption. The cause of corruption is human greed. We can not blame the bitcoin.
Bitcoin is a valuable coin. so that people will use it to corrupt and do illegal activities

Bitcoin would really just act as a tool on human greed since this thing is capable on doing such thing because people can easily hide out money without being traced or known whose the holder of such funds.It would really possible for a person to commit corruption knowing bitcoin is anonymous.

[tengek37]

could be especially corrupt money laundering, where they would move their assets into bitcoins so that they could not be tracked because the inside of the bitcoin was anonymous.

[biskitop]

could be, who is not tempted by the value of bitcoin is very high. however, so far there has been no case of corruption in bitcoin, but if the distribution of coins is not closely monitored, then corruption can happen. we just pray, hopefully there is no corruption, and bitcoin is the most secure digital currency in the world.

[Heyyyrenz]

Not just corruption but also illegal works, We all know that in cryptocurrency world we are anonymous or even in the internet we don't know who's behind the internet or what's his true intention. As for the answer in your question, Yes it's true that bitcoin can also lead to corruption let me give you an example.

If a person earns a lot of money from illegal works and he/she don't know where to hide his money because if he/she gonna put it in the bank it the transaction will be track so if the person invest all his money that comes from illegal works it will not be traced he/she can store it to different wallets etc. since we're anonymous here in the internet it would be hard for the government to track. In other words it is a "Money Laundering"