Can Bitcoin also lead to corruption ?

[Nascor]

Bitcoin is already being used to launder money, maybe not to the extent that the media are suggesting, but it's definitely playing it's part on the dark web market. It's an inevitable effect of a digital currency that is widely available and popular as Bitcoin. Even if transactions can be detected, there are already a number of services that "hide" these tracks by using so called "mixers" where essentially, you send your BTC and receive someone's elses BTC, that natural is attractive to crinimals and leads to corruption

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[Sled]

Bitcoin is already being used to launder money, maybe not to the extent that the media are suggesting, but it's definitely playing it's part on the dark web market. It's an inevitable effect of a digital currency that is widely available and popular as Bitcoin. Even if transactions can be detected, there are already a number of services that "hide" these tracks by using so called "mixers" where essentially, you send your BTC and receive someone's elses BTC, that natural is attractive to crinimals and leads to corruption

That is the dark side of the bitcoin and we can't do much about it but to just let it be. Everything has its own dark side and it is up to you if you will choose to stick with that dark side and make it as a basis in judging something that is not totally that much. Even bitcoin has its own dark side from being hard to trace down then you can still have a positive with it like the blockchain technology that will help you to create better ideas.

[pureclckr]

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.

Yes you are absolutely right that possibility of corruption is everywhere but I am looking no way of corruption especially in case of bit coin as digital and crypto currency world and I think that corruption will be also a modern way of corruption.

There are different kinds of mindsets in this world so the corruption will depend upon the nature of an individual itself.

I also agree with you. The possibility is always there, because I think this is the very safe place to keep the corrupted money. No proof, no inquiry, no recovery and the money gone to the wallet of corrupt people. I think bitcoin will provide them the opportunity for more and more corruption. Now they cannot use or keep the black money in their bank accounts but bitcoin will give then the safe and easy way.

[slavla3]

No subject how considerably corruption invests, if the government starts to consider action by freezing bitcoin exchanger in that place and daunting transaction accessibility to the suspect's lender account. I consider it's a fairly critical complex issue. We can see from what the China authorities did in the past.

[youdacapt]

No subject how considerably corruption invests, if the government starts to consider action by freezing bitcoin exchanger in that place and daunting transaction accessibility to the suspect's lender account. I consider it's a fairly critical complex issue. We can see from what the China authorities did in the past.

they forbid bitcoin as a sign of not being able to make the rule even though it is actually enforced. Clotting steps are the result of their inability to crypto business that continues to move massively. A setback in civilization is that if the state is not able to stem the mass of business, bitcoin is very free and makes people corrupt whenever and KYC is just a weak formality.

[Fatanut]

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 not, the only people that can be corrupt are the government officials and as you can see we don't have that in here. Bitcoin is decentralized and one guy is not above the other guy just because he has more bitcoins. I think the only problems that we might be having the future is that pioneer bitcoin users have so much bitcoins and the price of bitcoin is already in millions. The newcomers can't do anything about that and all they can do is to buy bitcoin at a really high price. Bitcoin will be really scarce since some people are holding the major part of it, and those same people will have power. They will have the power to manipulate the market. Plus, since they have so much bitcoins (money) then they are already powerful. Remember that rich people are also powerful people because of their money.

I don't think bitcoin can lead to corruption but it can lead to unbalanced distribution of power because of money. Oh well, that's what we currently have in fiat money anyways so nothing is really new with that.

[bitcoworld]

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 not, the only people that can be corrupt are the government officials and as you can see we don't have that in here. Bitcoin is decentralized and one guy is not above the other guy just because he has more bitcoins. I think the only problems that we might be having the future is that pioneer bitcoin users have so much bitcoins and the price of bitcoin is already in millions. The newcomers can't do anything about that and all they can do is to buy bitcoin at a really high price. Bitcoin will be really scarce since some people are holding the major part of it, and those same people will have power. They will have the power to manipulate the market. Plus, since they have so much bitcoins (money) then they are already powerful. Remember that rich people are also powerful people because of their money.

I don't think bitcoin can lead to corruption but it can lead to unbalanced distribution of power because of money. Oh well, that's what we currently have in fiat money anyways so nothing is really new with that.

god thanks you are the first i think that understood crypto here

[dmamigo]

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.

Yes you are absolutely right that possibility of corruption is everywhere but I am looking no way of corruption especially in case of bit coin as digital and crypto currency world and I think that corruption will be also a modern way of corruption.

There are different kinds of mindsets in this world so the corruption will depend upon the nature of an individual itself.

I also agree with you. The possibility is always there, because I think this is the very safe place to keep the corrupted money. No proof, no inquiry, no recovery and the money gone to the wallet of corrupt people. I think bitcoin will provide them the opportunity for more and more corruption. Now they cannot use or keep the black money in their bank accounts but bitcoin will give then the safe and easy way.

Actually corruption is and will be there forever, Bitcoin is just a medium that is or will be used by the corrupted peoples. But recently might be for this reason many countries are trying to regulate and also introducing KYC and AML to curb corruption. I believe there will be loophole or a way to still hide your money but atleast it will restrict or might even reduce it till some extent.

[Ashong Salonga]

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 depends. I think it is more likely to say that can bitcoin be a instrument of corruption of many people specially to those people who are in the part of government. However I think it is somehow yes because what if the bitcoin can be our currency many government will somehow make some bad moves because of greediness.

[whyrqa]

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 depends. I think it is more likely to say that can bitcoin be a instrument of corruption of many people specially to those people who are in the part of government. However I think it is somehow yes because what if the bitcoin can be our currency many government will somehow make some bad moves because of greediness.

greed is a special trait of each person's character, it's just that some people hear it sleep or prohibit it very far. All people love money and especially when this money is needed not only for a smart life, but it lets the bases for normal living. Thus, the government of each country keeps its citizens in check by not giving good wages, but only to drag a miserable existence.

[eekkaa]

I think if for corruption can not, because bitcoin transactions are open and transparent, all can see the history of delivery and withdrawal bitcoin from anyone and anywhere.

[skyflakes88]

yes as long as there is an intent to do so there will be corruption but the chances are slimmer than in fiat because in bitcoin it can be traced but to do so there must be someone who must raised a concern regarding to the issue. I believe as long as there is a man corruption greed will never be gone when the topic is money they will always find a way to cheat and to take advantage of the loop holes..

[danherbias07]

It will be its way once the authorities find a way to change the way it should be done.
No tax for bitcoin and of course that is bad for the government. They want everything to be paid. Every movement of the people should have a something to pay that will go to their pockets.

[Pressessidow]

Yes i does,bitcoins can lead the planet into corruption if individuals big bitcoin holders trade and all massive buyers will have a excellent wish of funds and will use bitcoin to get it all,like what other stated bitcoins is a cash a currency which is the always lead to of why we have this corruption all about income

[darkangel11]

Actually bitcoin can make corruption more traceable than it is now. With all blockchain transaction being visible you can always follow the money trail. That's something you can never do with cash and only an insane person would allow people to wire bribes to their personal bank account.
You also have to realize that corruption has nothing to do with forms of payment. It's based on 2 factors: economy and people's mentality. When your government makes it easy and cheap for you to get all the permits and your job pays well you have no incentive to bribe others.

[MyIdeas]

corruption can be done by anyone and anyone, so bitcoin can make money from corruption, it can happen because of the dishonest human nature that corrupts in any way.

If we talk about corruption and bitcoin, then I will say that it will not at all the bitcoin which will lead to corruption. It is we, the ones who are having bitcoins which will use bitcoin for the sake of illegal activities and corruption. Bitcoin itself is a very good thing. We actually need to stop bitcoin from being used on corruption and other illegal activities which can bring bad name to bitcoin.

[Sled]

corruption can be done by anyone and anyone, so bitcoin can make money from corruption, it can happen because of the dishonest human nature that corrupts in any way.

If we talk about corruption and bitcoin, then I will say that it will not at all the bitcoin which will lead to corruption. It is we, the ones who are having bitcoins which will use bitcoin for the sake of illegal activities and corruption. Bitcoin itself is a very good thing. We actually need to stop bitcoin from being used on corruption and other illegal activities which can bring bad name to bitcoin.

Even how often you will say that, they will not stop using bitcoin into illegal activities and corruption because doing bad things are already common for them and they want that way to earn money and the only solution for them to stop is by having the authority to arrest them or bring them in the police station and conduct an order that they need to stop what they are doing or else they will go to jail.

[Yarex]

Once I did some researches on  corruption in different spheres of public life in EU and USA. We have to be true to real life, but not idealistic dreamers. Corruption exists because it is always gaining new forms, but with the dissemination of cryptocurrency this global evil may be reduced.

[usorin]

Actually bitcoin can make corruption more traceable than it is now. With all blockchain transaction being visible you can always follow the money trail. That's something you can never do with cash and only an insane person would allow people to wire bribes to their personal bank account.
You also have to realize that corruption has nothing to do with forms of payment. It's based on 2 factors: economy and people's mentality. When your government makes it easy and cheap for you to get all the permits and your job pays well you have no incentive to bribe others.

All i can say is that you are completely right. To exist corruption there has to be some ready to break the rules. You pointed some good points of view, looking forward for other comments from you.

[planfox]

Corruption happens because of human greed and does not depend on the currency that is used in the country. I think bitcoin is already actively used in corruption.