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Author Topic: Can Bitcoin also lead to corruption ?  (Read 51203 times)
tittensor
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December 11, 2017, 06:04:10 PM
 #1441

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.
How to track me if I do not use any exchange? I can use dark web, private transaction, use mix service for my transaction ... to help my address and transaction can be anonymous. No one can tracks me as long as I do not show my name + my address for anyone.
You are very much right in your opinion but the thing is the problem is with ‘I’ not with bitcoin. If this ‘I’ stops doing all these wrong things, stop using dark web etc., The bitcoin is not going to do nay harm to anyone. Even before bitcoin, there was corruption, there were many transactions made which were without any identity, they were not easy to track. So in short, the problems is with users, not with the machine.
But with the Bitcoin technology from Satoshi Nakamoto, the government will need to spend more powers and get more troubles to know the crime and the transaction for crime. It is so hard to know the owner of a transaction hash though you can know all data information of this transaction hash, but you can not know the identity of owner.
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jam22
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December 12, 2017, 12:38:50 PM
 #1442

Yes, it might lead to corruption by the means of trading drugs but the government keeps an eye on them.

Copulative
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December 14, 2017, 05:59:05 AM
 #1443

Sure and it's happening now. These corruption are similar to the use of Criminal Payments in their hired killer. Or is price manipulation.
NOPE there is no possibility of corruption in bitcoin forum because
Bitcoin forum has a strict rules and regulation and and if anyone can going against these rules then forum administrator will take action against them. So there is no possibility of corruption in bitcoin forum
christina30
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December 14, 2017, 06:20:30 AM
 #1444

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 can lead to corruption. Well corrupt people can use bitcoin as a payment gateway which they can transfer money whether it is a good or bad money easily because they can't be track down by the people who want to detect them.and it seriously leading Bitcoin for corruption.
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December 14, 2017, 06:54:08 AM
 #1445

I think it depends of the person's mental and personal, without the bitcoin if someone obviously clever corruptor minded individuals to hide their money corruption.
I think I agree with that it depends on people who think that this can possible.

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December 15, 2017, 12:59:09 AM
 #1446

Bitcoin is money and money is one of the reasons that there is a corruption. People will use bitcoin for power and manipulate other people that needs money. As long as money is involve, corruption will always be there.

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December 15, 2017, 04:46:54 AM
 #1447

I think it depends on the people of where he use bitcoin if in criminal activities or corruption.But we dont want that dirty hands in bitcoin we dont want to harm it from those people.Bitcoin is money it is involved always in every activities that can lead to criminal activities.
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December 15, 2017, 05:01:05 AM
 #1448

May in can lead to corruption becuase. Bitcoin like money is no exemption. Bitcoin can give people power, financial capability, we know bitcoin is able to trade with USD so, its have chance to used in a corruption. Sspecially in this digital currency. Positive side will make the bottom of the start to improve their financial problems.
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December 15, 2017, 05:54:23 AM
 #1449

ya totally, you yourself have actually answered the question, bitcoin is used as source of income people use it to buy things , so corruption can be there or is there because the thing is actually being used, things that add to corruption related to bitcoin is its nature of anonymity ,decentralization. you can not control anyone of sending bitcoin to others ,moreover as bitcoin supports fast peer to peer transaction around the world corruption can link together  on global level.

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Darknight31
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December 15, 2017, 06:00:52 AM
 #1450

I think there are a lot of definitions of the word corruption in the dictionary and I think, Bitcoin can lead to corruption based from the definition that I know. Corruption for me, is when people use something but that something is not for that people but for other purpose or other people, though in bitcoin it can be called on another word. For example, I am running a signature campaign, lets say it is A signature campaign. My campaign manager is X and been my partner for 6 years. I trusted him so much, that I put the whole 10 bitcoins to the address of the campaign. After that I didn't hear about him or what happened to my bitcoins, as far as I know, he run off with my bitcoins, and used it not the way it will be used.

You can just simplify it by saying, to exploit people and or do that is immoral. 



Definitely  anything that can bring power or trigger greed can corrupt people.  Bitcoin like money is no exemption.  Bitcoin can give people power, financial capability, and fame.  If a person cannot get enough of these with Bitcoins then he can turn into a corrupt person exploiting everything he can to get more of what Bitcoin offers.
Bitcoin is not different from money that can lead anyone into corruption. Specially bitcoin is a digital currency that can give someone the power, financial stability that can trigger them to do something bad. Can get them trigger to be greedy, much worse can turn them to be corrupt. That if they will not be satisfied with what they have they'll do bad things.
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December 15, 2017, 06:22:59 AM
 #1451

There are possible chances that Bitcoin can lead to corruptions, right now politicians and other rich people are converting their Fiat currency to Bitcoin inorder to reduce their tax and diverting their major income to Bitcoin buying and hiding their currency.
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December 15, 2017, 08:14:04 AM
 #1452

Sure and it's happening now. These corruption are similar to the use of Criminal Payments in their hired killer. Or is price manipulation.
I don’t think so because all the users of bitcoin are trusted and also the system of bitcoin forum is the most secure and very strict rules and taking big action against any person who are violating bitcoin rules so there are very less possibility of corruption in bitcoin.
Prince786
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December 15, 2017, 09:02:38 AM
 #1453

Bitcoin is also a currency and you can buy any stuff with it. Corruption comes when something is easy to store and without any limits. Moreover bitcoin is easy to save so people can store black money on online accounts without any identification, that is a corruption!!So everything can be dependent on user how they use it.
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December 15, 2017, 09:41:19 AM
 #1454

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?

correuption must happen, bitcoin daily   bumping and correuption it is normally

all this will lead bitcoin to be great coin

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December 15, 2017, 10:13:46 AM
 #1455

Possible yes but its also can stop it. Corruption exist in our daily life. But as to the opinion of most of the people, bitcoin could possibly lessen the corruption because money (maybe in some sort of salary or payment) can contribute to individual without having the third party, which corruption happens. Bitcoin can be used in scam rather in corruption due to its value, the attraction is always there. Still it depends how people will use it, people nowadays are very smart regarding in that matter ( even if it for the good or for their own greedy self). In the other side, tracking transactions is difficult when bitcoin is used in illegal ways.

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December 15, 2017, 02:19:01 PM
 #1456

There is always away to break the law. It is not about BitCoin to influence corruption index, it is about people. Educate a child good moral and corruption will not take place in our world.
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December 15, 2017, 03:15:35 PM
 #1457

Ofcourse there are corruption. As we all know bitcoin is now manipulated by group of people or country. For what i have read and see in some video presentation, chinise people almost owns the entire mining platform of bitcoin. Through this they can easily manipulate the dump or falling and pump or rising the price of bitcoins. Aside from the there are groups who are in collaboration in other altcoin for them to sell their coin to a much higher value. Thats why even though its hard to believe, its true bitcoin is already corrupted not only in mining but also in transaction. The fee is getting bigger and bigger, much bigger to what you sent hayz
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December 15, 2017, 03:18:25 PM
 #1458

Generally, bitcoin uses at online marketplace.  We can not blame about anything if we use that roughly. Till now bitcoin is very popular and honest system by the choice of people. 
Very few people knows about bitcoin but one day will come when many people will know about it and will use for hiding their black money. Many politicians’s of every country are so much corrupted and they can use that for their benefit because no one can get their acquaintance. Bitcoin is just a tool for payment and can be tool for corruption if people start rough use of it.
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December 15, 2017, 07:07:11 PM
 #1459

I think it depends on the people of where he use bitcoin if in criminal activities or corruption.But we dont want that dirty hands in bitcoin we dont want to harm it from those people.Bitcoin is money it is involved always in every activities that can lead to criminal activities.
I’m always telling to every one before going to join bitcoin make sure first study bitcoin that what is bitcoin and why its hear how to use and how it work if you study bitcoin in detail then I hope everyone will understand that why bitcoin is here it actually here to help us and it’s a good source of income which is helping people around the world it’s not here to use it for corruption or for any bad things so I will request to everyone don’t miss use bitcoin.
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December 15, 2017, 10:07:55 PM
 #1460

There is a strong chance about this matter because anonymity is also a strong point of crypto currency and some altcoins are untraceable so they can take advantage of the current technology to their dark schemes to do their bad deeds like corruptions and other things related to abusing the blockchain technology, no matter how good bitcoin is its the matter of how are you gonna use it and your intentions..
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