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Author Topic: Can Bitcoin also lead to corruption ?  (Read 51223 times)
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December 19, 2017, 11:44:13 PM
 #1541

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 sure can! Just like cash, bad politicians or criminals will surely find a way to use Bitcoin in their evil doings. Since Bitcoin is open for everyone and that it is anonymous, these evil doers are free to do what they want. So Bitcion is not immune from these kinds of activities.

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December 20, 2017, 08:40:35 AM
 #1542

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.
It will depend more on the governments of the areas than people. It will be better for the governments to legalize the crypto currencies and then legislate accordingly to not let it to use in criminal activities. If the governments will hesitate, then people of that country will definitely find some underground links to trade in crypto currencies which will definitely lead to the involvement of bad guys of the society trading in the bitcoins.


When there is a strong implementation of the law, the authorities will be able to combat illegal activities with the use of bitcoin.
That is why it's important that they will legalize bitcoin to give them access on the necessary information relevant to detecting illegal transactions.
bitcoin can make everyone's future best and they can save their family's future, the biggest cause of corruption is poverty and unemployment and bitcoin can solve every person's many problems which they face in this world, yes some those person who are very greedy in this world and they can any thing for future, so government can them punish by their low. 
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And I think these governments are not legalizing the bitcoins only for the reason that they want complete information of what is happening around them. They need bitcoins to be controlled by them while on the contrary, bitcoins nature is totally against this. Bitcoins decentralization will never allow the governments to take full control of the system. This war is going on and we are suffering.
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December 20, 2017, 12:18:57 PM
 #1543

Yes, bitcoin can really lead to corruption. If there is money involve many people will be corrupted by greed. We are all aware that the activities of BTC were involve many individuals.  The more transaction the more people involve in money the more chances corruption to occur. 

ronics
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December 20, 2017, 01:41:25 PM
 #1544

 Smiley   Bitcoin is not the of our government coz the government should make such curse as the government demands tax at all.so bitcoin is a cryptocurrency invest using online work method here in bitcoin.everyone who wants to buy anything .you much first work to the signature campaign ,secondly you can invest this first in your life .investment is the highest way to more currency .so in other words bitcoin is not corrupt like government ..bitcoin is an org.in the world.
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December 20, 2017, 01:51:22 PM
 #1545

IT can be but not it himself (beatcoin).but the person who handle in wrong way or use. sometimes if you love the money it become a root of evil. so it is important to be responsible to handle the money that will not bring you  to corruption. it better to share your blessing instead to use in other way because it is a blessing of God. If you will not use it in good way it will bring you a trouble for you sure.

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December 20, 2017, 06:02:56 PM
 #1546

Bitcoin can be helpful in corruption the same or even less than fiat currency. Let's not forget that Bitcoin is not completely anonymous. Example - Ross Ulbricht (Silkroad).
Fiat currency will always be better for criminal activity.
Laurayaki
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December 20, 2017, 06:04:47 PM
 #1547

Because the blockchain is readable by everyone can clearly reduce corruption, but with crypto completely anonymous we return to the same problem
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December 22, 2017, 11:49:57 AM
 #1548

is very unfortunate because there are always people who want to use bitcoin to commit a crime as well as a crime of corruption by doing money laundering practices whose purpose is to inflate money on the rights of others.
Bitcoin cannot lead to corruption but it can become the source to transfer the corrupt funds from one place to another and that too in an encrypted form. The ledger or the block chain system does not provide the source from where that money has been earned.

Moreover, black money can also be transferred by bitcoin and without any checks. Tax evasions are also possible because of bitcoin, so it will be better for the governments to legalize the bitcoin and sort out the problems it can create.
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December 22, 2017, 11:57:26 AM
 #1549

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.
we all know how corruptions happening here in bitcoin community,being
decentralized posibility of having corrupt in every sides of cryptoworld..and so far
its undeniable and uncontrollable this needs a metal hand to take it down and with
a dedicated and responsible leadership.
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December 22, 2017, 12:00:35 PM
 #1550

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 is a powerful cryptocurrency and anyone who will abuse the power of it will be considered to be corrupt. It can lead to corruption anytime specially right now that the value of it has been rising a lot ever since. The corruption here should be avoided because it may lead to negative outcomes for each and everybody. We should use bitcoin in proper and avoid abusing the power it has so that there would be no trouble.
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December 22, 2017, 12:04:13 PM
 #1551

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 also happen to bitcoin since the value it has is very expensive. It can occur anytime that's why we should analyze first the people we are sharing bitcoin with. If we are going to be careless on sharing our ideas, corruption will surely reign since the number of greedy people here is increasing. It is very important that we use bitcoin with discipline so that it will keep on reigning as the strongest cryptocurrency existing.

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December 22, 2017, 12:06:28 PM
 #1552

yes sometimes it may lead to corruption
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December 22, 2017, 12:32:50 PM
 #1553

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?
with its very anonymous bitcoin nature will be the most powerful weapon for acts of corruption. because bitcoin can not be traced from whom and whose property and bitcoin are also not controlled by the government nor any banking regulation that allows the government to withhold tax on bitcoin wealth. in other words bitcoin is the strongest tool to weaken the government, especially tax and corruption crime
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December 22, 2017, 04:46:58 PM
 #1554

To change bitcoin to USD you should show your face, so its not so anonymous, as we usually think. And you can see the chain how money are moving throught the wallet.
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December 22, 2017, 06:04:42 PM
 #1555

Corruption is not a good work in our society. Generally, it depends on your mind which you want.If you want this,you will able to do corruption by using Bitcoin.Because, Bitcoin is like a sky and corruption is like a bird which is able to fly in this area.

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December 22, 2017, 11:21:00 PM
Last edit: January 02, 2018, 11:48:27 PM by drachman
 #1556

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.
I'm very sure that corrupt people are going to begin to use bitcoin in order to store their ill gains, think about it no on can take your bitcoin if they do not have your private key, they can hide their dirty money and no one will be able to ever get it.
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December 23, 2017, 01:26:25 AM
 #1557

An anonymous factor is something that all countries fear to legalize bitcoin, because if it is legalized the government will directly protect the corrupt because they keep the money in bitcoin.
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December 23, 2017, 12:08:36 PM
 #1558

Bitcoin can be helpful in corruption the same or even less than fiat currency. Let's not forget that Bitcoin is not completely anonymous. Example - Ross Ulbricht (Silkroad).
Fiat currency will always be better for criminal activity.
I am not agreeing because I don’t think that bitcoin will lead to corruption. Main reason for it is bitcoin is digital currency now something like a person cannot have bitcoin physically at all, and most of people are not even aware of bitcoin so it is hard but if it will be use for it even then we cannot blame bitcoin because bitcoin will not will not be responsible for it people can use anything to achieve their goal.
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December 23, 2017, 12:49:28 PM
 #1559

I believe that everything in this world can lead to corruption. Any invention of man can be corrupted if man wants it. The best thing with bitcoin is that system is all transaction with been recorded publicly and available in black chain. That's make it a bit less prone to corruption but still can be.
cryptojaani
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December 23, 2017, 12:58:59 PM
 #1560

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 is a powerful cryptocurrency and anyone who will abuse the power of it will be considered to be corrupt. It can lead to corruption anytime specially right now that the value of it has been rising a lot ever since. The corruption here should be avoided because it may lead to negative outcomes for each and everybody. We should use bitcoin in proper and avoid abusing the power it has so that there would be no trouble.
No, I didn't agree because I think yes it is very much will be used for this that's why it is also prohibited in many countries like me and is iillegal. Actually it will ultimately depend on the user. Anyone can use it for good, while others may use it for illegal means. Since Bitcoin is not traceable, people may think of using it for illegal activity since they may get away with it.
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