Can Bitcoin also lead to corruption ?

[snedyolo]

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?

This ought to be true. The problem is bitcoin has a very high value, and some people are way too greedy, so they end up wanting to acquire more bitcoin than normal. That is why it may lead to corruption.

[Ekanenf]

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?

This ought to be true. The problem is bitcoin has a very high value, and some people are way too greedy, so they end up wanting to acquire more bitcoin than normal. That is why it may lead to corruption.

For me, as long as governments or any certain senator or something that would be managing it, it would be safe for corruption since most people who started corrupting people are those who are in the position on the government. So for me, as long as bitcoin will not be controlled by any government then it will be corruption free.

[ross09]

well we all know that corruption is everywhere even in the known holy place which is church theres also corruption going on.so yes bitcoin can be an instrument in corruption.

[Zendalet]

What's annoying me is that high profile individuals are blaming Bitcoin for corruption.

Corruption comes from within.

Corruption is as old as any other vice, as old as the oldest religious book, and has been there even before the scriptures from that book were put on paper.

[keenjester]

well we all know that corruption is everywhere even in the known holy place which is church theres also corruption going on.so yes bitcoin can be an instrument in corruption.

The corruption in Bitcoin isn't the same corruptions in the church at all. It's the supertitive and the Bitcoin's corruption is about the economics, it could lead to a big problem , it can raise the food or supplies's price for sure.

[deejayce48]

No. I don't think so. No one controls Bitcoin even government. Bitcoin is a software, no one owns the authority of it. So corruption is very unlikely to happen. That is why many people are in to Bitcoin because of this characteristics.

[jak3]

Bitcoin is mostly rated from the last of accountancy so that means the real problems we have faced from hundred years or maybe more are already being answered in the accountancy and now she is bitcoin have all those formulas and all the solutions so I don't think it is possible for Bitcoin to be corrupt. The block chain ledger keeps all the records of the transactions and nobody can corrupt in anyway (or at least till today).

[yvesp110]

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 can happen anywhere and anytime, especially if in terms of money, everything is in the individual

It all depends on the person who are having a major portion of bitcoins in their wallets. If they want to use bitcoin in any kind of illegal activities like that of corruption, then it is very much possible to experience this thing. Bitcoin itself cannot be used in any kind of activities. It is we, who has to decide where to use our bitcoin. We need to stop bitcoin from being used in such kind of activities.

Yes if bitcoin is used in any illegal activity that not the fault of bitcoin that totally depend on the user an before bitcoin corruption will be done through the cash so ban it also and now all the governments are also thinking to perform check and balance in transaction so that no one can use it in illegal way and bitcoin organization must have ti remove its anonymity so that serious crimes are avoided through it.

[julzcoinbit]

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 can happen anywhere and anytime, especially if in terms of money, everything is in the individual

It all depends on the person who are having a major portion of bitcoins in their wallets. If they want to use bitcoin in any kind of illegal activities like that of corruption, then it is very much possible to experience this thing. Bitcoin itself cannot be used in any kind of activities. It is we, who has to decide where to use our bitcoin. We need to stop bitcoin from being used in such kind of activities.

Yes if bitcoin is used in any illegal activity that not the fault of bitcoin that totally depend on the user an before bitcoin corruption will be done through the cash so ban it also and now all the governments are also thinking to perform check and balance in transaction so that no one can use it in illegal way and bitcoin organization must have ti remove its anonymity so that serious crimes are avoided through it.

I agree with this, with the existence of the bitcoin, this will simplify the corruption is going to do. Because in this system it is extremely difficult to track even by programmers though. a person will not easily get evidence that could incriminate the corrupt. While the bitcoin himself mentioned that it is a virtual currency that is anonymous then there will be people who know and can be used without risk of it.

[Flodemaga]

Bitcoin cant be ignored from anybody, and with the big value achieved we can expect hackers and alot projects running away with our coins, it had happened in the past with some exchanges already, cloud companies, a lot projects getting live these days and the only purpose is to steal your coins, soo as fiat bitcoin can be used for any kind of purposes.

[Unilevear]

Yes, it can! Many of us benefit from the great features that bitcoin offers. We take advantage of it so that we may earn a decent amount of money. But due to these features, many corrupt people see these as a great opportunity to hide their laundered many so that they won't get caught, since bitcoin transactions are anonymous, unlike bank who can be easily tracked by the government if they want to.

[Zendalet]

Paradise Papers have been released yesterday but people are still claiming Bitcoin is causing corruption? What are they even doing on this forum?

[PeacefulViper]

Bitcoin is exactly the same forex as all of the others only exist in digital type and privacy will be more convenient to add mass to problem. Exactly what is of value can be used as problem.

[tailwate07]

Yeah i think bitcoin also lead us to corruption.There is no other things which don't have corruption.And in currency or money there's too much corruption we can see.And since bitcoin is growing high to the moon it can be corrupted

After all bitcoin is a currency, means money and can lead to corruption. Bitcoin can't play a role in decreasing or increasing corruption of the world. The corrupt people of the world wouldn't stop corruption even if the currency is changed to bitcoin, means into a digital currency. Bitcoin can't play a role in stopping corruption but if it became the international currency, than the corruption of bitcoin is much difficult if compared with the corruption of paper money.

[genology]

I think the right question for this is "Can people start corruption on Bitcoin?". Bitcoin is just a Bitcoin. It is up to us how we'll use it. This will define if Bitcoin will lead to corruption or not.

[fedorkr6]

With a very large protection ranges so I will make sure that the corruptor will preserve their money to bitcoin, this is because if they preserve funds in the bank can be easily tracked so they will maintain to bitcoin.

[DIMKAZDS]

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 can happen anywhere and anytime, especially if in terms of money, everything is in the individual

It all depends on the person who are having a major portion of bitcoins in their wallets. If they want to use bitcoin in any kind of illegal activities like that of corruption, then it is very much possible to experience this thing. Bitcoin itself cannot be used in any kind of activities. It is we, who has to decide where to use our bitcoin. We need to stop bitcoin from being used in such kind of activities.

Yes if bitcoin is used in any illegal activity that not the fault of bitcoin that totally depend on the user an before bitcoin corruption will be done through the cash so ban it also and now all the governments are also thinking to perform check and balance in transaction so that no one can use it in illegal way and bitcoin organization must have ti remove its anonymity so that serious crimes are avoided through it.

I agree with this, with the existence of the bitcoin, this will simplify the corruption is going to do. Because in this system it is extremely difficult to track even by programmers though. a person will not easily get evidence that could incriminate the corrupt. While the bitcoin himself mentioned that it is a virtual currency that is anonymous then there will be people who know and can be used without risk of it.

Yes definitely bitcoin can lead to corruption.Since it is not under the control of any government or central bank,it cannot be traced down.People can transfer all their black money from one place to another just in seconds.Criminals can also use bitcoin for receiving their payments for their illfull deeds.Bitcoin wallet is used for this purpose.Only the giver and receiver know about it and money can be transferred only in seconds.Therr can also be smuggling of bitcoins too as the price of bitcoin is increasing day by day.

[cybersofts]

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 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.

Yes, there are so many ways that bitcoin may lead to corruption.
Firstly, when you put your money in bitcoin, nobody knows about it but you and you didn't pay taxes.
Secondly, bitcoin anonymity might also help politicians, rich and greedy people for saving their loot money anonymously.
Thirdly, when you own bitcoin you are the in control to do good or bad, that may also help some people to bribe others without knowledge of others.  

[Toxicsoul]

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 can happen anywhere and anytime, especially if in terms of money, everything is in the individual

It all depends on the person who are having a major portion of bitcoins in their wallets. If they want to use bitcoin in any kind of illegal activities like that of corruption, then it is very much possible to experience this thing. Bitcoin itself cannot be used in any kind of activities. It is we, who has to decide where to use our bitcoin. We need to stop bitcoin from being used in such kind of activities.

Yes if bitcoin is used in any illegal activity that not the fault of bitcoin that totally depend on the user an before bitcoin corruption will be done through the cash so ban it also and now all the governments are also thinking to perform check and balance in transaction so that no one can use it in illegal way and bitcoin organization must have ti remove its anonymity so that serious crimes are avoided through it.

I agree with this, with the existence of the bitcoin, this will simplify the corruption is going to do. Because in this system it is extremely difficult to track even by programmers though. a person will not easily get evidence that could incriminate the corrupt. While the bitcoin himself mentioned that it is a virtual currency that is anonymous then there will be people who know and can be used without risk of it.

Yes definitely bitcoin can lead to corruption.Since it is not under the control of any government or central bank,it cannot be traced down.People can transfer all their black money from one place to another just in seconds.Criminals can also use bitcoin for receiving their payments for their illfull deeds.Bitcoin wallet is used for this purpose.Only the giver and receiver know about it and money can be transferred only in seconds.Therr can also be smuggling of bitcoins too as the price of bitcoin is increasing day by day.

I agree with you it is a big danger but what to do about it? bitcoin exists because we do not trust the banks why should we worry about those stuff unless you are doing it just let it go.

[jostorres]

Wealth can very much lead to corruption. Provided that Bitcoin favors anonymity it is quite easy for people that are not ethical to slip into corrupted or at least non legal practices.

Everything that involves money will lead people to corruption, scamming and illegal practices. Money is a root of evil we all know that. However, we as individuals, must know how to handle our money without greediness. We must be contented with the fruit of our hardwork. Don't get the earnings that belongs to somebody else.

Bitcoin is different and corruption is different thing if some is using bitcoin for corruption purpose so I think it’s totally wrong and I think it’s totally out of question that bitcoin is going to lead corruption because when you study bitcoin in detail so you will see that it’s going to teach you a very good things not bad things.