Can Bitcoin also lead to corruption ?

[BeGoods]

Yes , definitely It can be lead to corruption if some other people will become selfish. One example are those people who doing scams. They try to lure the people and do everything just to earn a bitcoin without handwork. I remember the these quote "Money is the root of evil". Just saying.

Just like any other currency including all fiats, people crave  for it and so it can be involved in every corrupt activity or people can use it to perpetrate criminal activities that will inure to the benefit of their corrupt activities.

let alone bitcoin has something support for undercover transactions so technically bitcoin is very suitable and very appropriate to be used as a tool to corruption? they just need to hide their money in bitcoin and their money will not be tracked by anyone. that's why the government is so scared of bitcoin because bitcoin has the possibility of lead corruption in a country ?

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[Sadlife]

Bitcoin is just a currency its not some kind of god that can dictate people what to do where in fact like fiat currency that can be used to purchase illegal drugs, weapons and stuff. Bitcoin is no different they say that bitcoin is bad cause it is use by criminals but it is mostly the same in dollars or any other currency. A currency is just commodity for people to use whether its good or bad it is entirely up to the user.

[deloreswest]

yes its posible many party use it as source of doing coruption. we need a party or something that cant make sure or atleast reduce money laundry or terorist fundrising.

[pathapoddo]

Yes bitcoin is also lead corruption. In this universe, there is two side in everything ;good side & bad side.Bitcoin is blessing for us who do good thing & other it is blessing for us if anyone do bad thing with this.We have change to our mind. We have to see the good thing not bad thing.

[Text]

I am thinking an exact situation that connects bitcoin to corruption. Since BTC is not controlled by the government or any other organizations, I don't think so it will lead to corruption. But rather than that, scammer is everywhere. They exist on ICO, online business where bitcoin is involve.

[man1996]

Yes it can lead to corruption, there are certain usage of bitcoin that will drive people to abuse, Like money laundering, since it is decentralized and people who get used to it remains anonymous, This will be the lead to make crimes and other illegal activities evolve. Corrupt people could also used to transact money through btc to make themselves untraceable.

Yes definitely bitcoin is leading to corruption.Since bitcoin is not regulated by any central bank or any institution,there are many cases of fraud .Since the payments from signature campaigns are directly received by the people,there is a lot of case of black money in the economy.This can also lead to scams.

[Japinat]

I am thinking an exact situation that connects bitcoin to corruption. Since BTC is not controlled by the government or any other organizations, I don't think so it will lead to corruption. But rather than that, scammer is everywhere. They exist on ICO, online business where bitcoin is involve.

Corruption does not only happen in the government on a certain organization, one can do corruption if he chooses and with bitcoin it's possible as it's easy to launder the funds compared in using the service of the banks. That is why now the bank are challenge to do necessary steps to monitor our transaction especially those who are in their watch list, but we cannot be stop, we transact based on our will and we have that freedom.

[sumanto]

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 any system where there is a dependence on consensus among humans, there will be such a possibility, but in Bitcoin this would be very unlikely to happen, since miners would be harming themselves.
so yes its posible

[BILGPS]

For me it is will not lead to corruption as I am not that much expert in these activities but I can say that if we look positive we will come with a view of positive outcome and if you are a good person you can earn bitcoin through legal way and through this bitcoin you can start a trust, hospital and can remove hunger of many families.

[Sled]

I am thinking an exact situation that connects bitcoin to corruption. Since BTC is not controlled by the government or any other organizations, I don't think so it will lead to corruption. But rather than that, scammer is everywhere. They exist on ICO, online business where bitcoin is involve.

Corruption does not only happen in the government on a certain organization, one can do corruption if he chooses and with bitcoin it's possible as it's easy to launder the funds compared in using the service of the banks. That is why now the bank are challenge to do necessary steps to monitor our transaction especially those who are in their watch list, but we cannot be stop, we transact based on our will and we have that freedom.

It is really easy to use bitcoin as a way of being corrupt because bitcoin has its anonymity and that anonymity will cover the bad people in transacting their evil possessed money into the receiver without knowing by the authorities and that is why a lot of people are still doubting bitcoin that it is a good currency because of that vulnerability but we cannot avoid that because even the fiat that has no anonymity is still prone to evil transactions.

[ghost424]

Bitcoin is one of the currency in the internet. In the real world, corruption happens when there is abuse in power. Corruption is when we keep abusing what doesn't need to be abused. In some countries they say politicians are corrupt due to the hording of money and that is bad. If we abuse bitcoin, i guess it will lead to corruption. Abusing bitcoin is really bad because bitcoin has good effects on unemployed persons. Bitcoin is really helpful to those who are in need. We need to teach them on how to use bitcoin in a good way without abusing it.

[miltonpogi]

We all know that we will never replaced corruption, because there is corruption everywhere, there are many person who was too greedy on having bunch of money on their hand. Many people temp to grab more of this to buy all their wants and use it for pleasure because money is now there worth, just like what happening in the government. In short bitcoin is a money and you will never replaced corruption when topic is all about money.

[1kings]

Corruption is inherent in humans and it is not limited to political space. Everything we touch gets corrupted. Name it. We corrupted nature, the natural order of things. Even in the inorganic, we introduced malwares into systems.

Back to the point, BTC cannot stop corruption. It can only become a tool in the hands and minds of corrupt individuals and organisations.

[speem28]

Corruption is inherent in humans and it is not limited to political space. Everything we touch gets corrupted. Name it. We corrupted nature, the natural order of things. Even in the inorganic, we introduced malwares into systems.

Back to the point, BTC cannot stop corruption. It can only become a tool in the hands and minds of corrupt individuals and organisations.

Good point! It's just the way of the world. There are people who are born to do those shameless things, people who will do anything just to take the better of other people like scamming, hacking and etc. For sure, there are lots of people who are taking advantage of bitcoin's feature for their own sakes not thinking that they are harming other people with whatever they are doing.

[Nivir]

Just 1 week or two ago a high ranking government official in my country is accused of corruption. His group mentioned they never did anything illegal and his money mostly came from bitcoin. I wonder if he was really a big investor in crypto or he was able to hide some of his ill gotten wealth in crypto.

[advjump]

Bitcoin can't lead to corruption because bitcoin is decentralized and it can't be controlled by anyone, the bitcoin is known for being decentralized and if bitcoin lead to corruption then it means that it already broke its features and it will be a huge effect for the price and it will go down.

[Hotel_Prodeo]

I think not, without bitcoin corruption is massive, and of course corruptors think about the future of bitcoin, they prefer foreign banks to save money rather than bitcoin because they know there is a risk of bitcoin drop.

[btcjocan]

Corruption is inherent in humans and it is not limited to political space. Everything we touch gets corrupted. Name it. We corrupted nature, the natural order of things. Even in the inorganic, we introduced malwares into systems.

Back to the point, BTC cannot stop corruption. It can only become a tool in the hands and minds of corrupt individuals and organisations.

Good point! It's just the way of the world. There are people who are born to do those shameless things, people who will do anything just to take the better of other people like scamming, hacking and etc. For sure, there are lots of people who are taking advantage of bitcoin's feature for their own sakes not thinking that they are harming other people with whatever they are doing.

It could be! Because nowadays a lot of scammers are trying to deceive people that they will give the amount of bitcoin in just few minutes and ask you to give your wallet address and after that you will be told to send an amount of bitcoin to the wallet address that they send you so you can receive the bitcoin they sent to your wallet address. But unfortunately it's a big scam. So they are already taking advantage with the use of bitcoin in some countries.

[wilwxk]

Of course, why the corrupts will take bags of paper money or gold with someone if they can only make a transaction of millions with their smartphones ? But this is a natural proccess, if you want a currency without corruption this will need a control of soe institute, and this is worse than a paper money. But in the future they can prefer cryptos more anonymous like the monero abd zcash too.

[Himanshu111]

Corruption is inherent in humans and it is not limited to political space. Everything we touch gets corrupted. Name it. We corrupted nature, the natural order of things. Even in the inorganic, we introduced malwares into systems.

Back to the point, BTC cannot stop corruption. It can only become a tool in the hands and minds of corrupt individuals and organisations.

Good point! It's just the way of the world. There are people who are born to do those shameless things, people who will do anything just to take the better of other people like scamming, hacking and etc. For sure, there are lots of people who are taking advantage of bitcoin's feature for their own sakes not thinking that they are harming other people with whatever they are doing.

The fact that bitcoin can lead to corruption cannot be denied.It is obvious that criminals or corrupts will not carry so much amount of money or cash.Instead they need something which is easier to operate and without the fear of being caught,they can get all of their payments.For this bitcoin is the best.Payment through cryptocurrencies cannot be traced and no one has any account of it expect the receiver and donor.This is because cryptocurrencies are not governed by any central bank or any institution,so any transaction in black can be done.