Can Bitcoin also lead to corruption ?

[Tiktik]

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 dont think if bitcoin will going to lead to corruption because based on my research no one can control in bitcoin even goverments but i think maybe sone goverments will going to used bitcoin to get taxes? A big tax because bitcoin is so very high.

[dx_twisted]

Well, as far as I know, one strength of bitcoin is anonymity. Where we can send and receive BTC's throughout the world, as long as you have an internet access. You don't need to indicate your full details when sending, which can be abused by anyone who does illegal activities. Just for the record, there are many fraud and scam cases which BTC is involved. Add to the fact that digital coins is not yet fully regulated by the government. If all politicians or public servants see through it that way, then there's a higher probability that Bitcoin will lead them to be corrupt.

[plusquantu]

In truth, every type of monetary matter can be used for corruption. That's another thing that most communities are worried about as bitcoin is quite valuable these times.

[karnwillbit]

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

No it’s not true and why would bitcoin lead corruption because bitcoin have now a very strong hold in market about trade and its income is very high than any other crypto so I think if someone think that bitcoin cab use in corruption so he is wrong and I’m sure bitcoin know very well how to stop these kind of things.

[expless]

Of course, bitcoin can lead to corruption like any other currency with which you can make purchases. At the same time, in terms of anonymity, bitcoin has the advantage.

I don’t think so and if it will be used for that purpose this will not be the fault of bitcoin that totally depends on the investor and as before bitcoin cash money is also used for suck kind of illegal activities so the regions who are curious that this coin may will lead to corruption are mentally ill they are only seeing the negativity and so they must stop using cash because this is also used in corruption blaming btc is offensive.

[Kim Ji Won]

Of course, bitcoin can lead to corruption like any other currency with which you can make purchases. At the same time, in terms of anonymity, bitcoin has the advantage.

I don’t think so and if it will be used for that purpose this will not be the fault of bitcoin that totally depends on the investor and as before bitcoin cash money is also used for suck kind of illegal activities so the regions who are curious that this coin may will lead to corruption are mentally ill they are only seeing the negativity and so they must stop using cash because this is also used in corruption blaming btc is offensive.

What the OP is pointing here is that due to the great features of bitcoin, this may lead or trigger people to take advantage of it for their own good. Like hiding their laundered money, or anything that they do not want to be found or to be traced. It's true that bitcoin is not at fault here but it can be considered as a trigger factor for doing such things.

[kolbalish]

Obviously not.But there are so many fake sites are available to hack our ETH account and other account. It is very harmful. Doing this work,many people use Bitcoin and also lead to corruption.

[Razick]

Bitcoin surely is already leading to corruption. Think about it. Think about just how corrupt the crypto industry is nowadays. Most of the ICOs are pure and blatant scams. Outright theft and the owners/founders are still not in jail. They do not even get prosecuted. IT is such shame. I mean I heard there was a billion dollars raised in September alone. Imagine how much of it was stolen/scammed. Sad.

[biffy_beef]

I don't think the word "corruption" can be used in this kind of ecosystem, why did I say so? because we all know cryptocurrency such as bitcoin works in a decentralized structure so no one is in control when you look at it in the  bigger picture but if you look close to specific services then corruption might be use as a term but I bet to disagree I rather say its a tactical move to gain profit within a specific service offered to earn bitcoin and if you look at it is in a proper way because it is not compulsory taken out to anybody who holds bitcoin, it is more like a voluntarily move.

[benjer`]

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.

[mezzaluna]

As you have stated, greediness leads to corruption, it chooses no platform may be it bitcoin nor fiat money these people will find ways. With bitcoin it features anonymity wherein people take advantage of. These corruptions are already existing it's inevitable especially there are yet no laws taking hold of the cryptoworld.

[channingwilmer]

Bitcoin can become a corruption but it can not lead to corruption. The big dump is really near and everything will fall down cause of bitcoin. Hope that bitcoin will keep being stable like this. Too many people are trying to invest their money in bitcoin

[trauchot]

Of course, I thinking already corruption is conducted through bitcoins because no one can be caught for it because transactions are anonymous. One of bitcoin functions, namely-anonymity, allows corrupt people and other people to transfer dirty money or bribe someone, because making transfers through bitcoins are unnecessary to write any data about themselves, so also transactions are fast, this all suits any person.

[Amevalentine]

Bitcoin can be used tool for money laundry but basically all transactions in bitcoin can be traced this is not so difficult so for those who branded this safe it is a folly

[drachman]

To tell the truth, Bitcoin is one of the most effective tools in the hands of corrupt officials. If they accept bribes in the form of BTC, then it can be extremely difficult to trace the transactions back to that particular individual (especially if they put the coins in cold storage and refrain from converting them to fiat).

It is obvious that is going to happen, while governments want to avoid that people around the world do that eventually we are going to find that governments officials are doing exactly that, after all corruption is rampant in my country and they use every tool they can in order to hide their money.

[ripti]

Bitcoin is free of corruption. But some people insist on bitcoin and make fun of it. For example, accepting Bitcoin from a person, and not paying him for the exchange.

[Perseusallen]

I think bitcoin will not lead to corruption cause we all know that no government can controlled bitcoin and no one owns it.

[satria2]

I think bitcoin will not lead to corruption cause we all know that no government can controlled bitcoin and no one owns it.

I strongly agree, because Bitcoin cannot be set by a government. This is one of the advantages of Bitcoin.

[fuer44]

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 it can, and it can be very easy to happen. bitcoin transactions can be done anytime and anywhere "without going through the bank". it would be very easy to do money laundering using bitcoin.

[Japinat]

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 it can, and it can be very easy to happen. bitcoin transactions can be done anytime and anywhere "without going through the bank". it would be very easy to do money laundering using bitcoin.

Remember that you are using the blockchain, all transaction are transparent, never think it's untraceable and easy to do money laundering because when the government will be after you, they can  make all necessary actions to trace your transactions and will make you liable if you are proven doing illegal activities. They have the means to do it, there might be some delay but you can be trace if they do their job.