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Author Topic: Can Bitcoin also lead to corruption ?  (Read 50892 times)
laracastvue
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April 05, 2018, 03:59:25 PM
 #1881

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?

Yes it can lead to corruption because bitcoins can bring wealth to different people and if cryptocurrency would not be used for good then it can actually destroy a country or start a war on different countries in the future.
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Chaki
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April 05, 2018, 04:02:33 PM
 #1882

Everything that misleads will lead to corruption, becoming greedy is one reason of doing so, its not the amount of what have you corrupt or starting to steal, the moment you start things wrong will lead to corruption too, so my answer is yes, corruption happens anywhere sometimes people are not aware but they are doing it.

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April 05, 2018, 04:09:09 PM
 #1883

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 will lead to corruption if the government will not use the profit from cryptocurrency to improve the countries economy. I like the idea of japan to use bitcoins for the improvement of their economy because in this way people will get wealthy in their community.
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April 05, 2018, 04:19:28 PM
 #1884

Some will say that it is possible because it involves money but for me it is not. Corruption is due to the abuse of power particularly with an instituion or in the government. But since Bitcoin is decentralized, surely this is far from reality to happen because it is not controlled by anyone or anything. It is an open source system and nobody has the power to do such thing.

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April 05, 2018, 05:39:57 PM
 #1885

It depends on a person, without the bitcoin of corruption in my country is massive, various ways done by corruptors, but I never heard that corruptors save money in bitcoin.

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April 05, 2018, 05:53:18 PM
 #1886

difficult, how? all bitcoin transactions are recorded in a blockchain ledger, so everything can still be checked again. but for washing, it can be bitcoin. because the mafia can put all the money into bitcoin, because bitcoin is very expensive and definitely will not take up much space in their wallet account.
The fluctuating bitcoin price keeps the corruptors afraid of saving money in bitcoin, so I'm not sure that the presence of bitcoin also leads to corruption, they are more comfortable saving money in overseas banks that are definitely safe and of greater interest.


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Andrej Peiboski
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April 05, 2018, 06:06:07 PM
 #1887

Everything can be used to pay a corrupt politician, so obviously also the bitcoin.
And with the fact of being anonymous, it seems clear to me that it is an excellent tool for corruptors and corrupts.

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April 05, 2018, 06:16:12 PM
 #1888

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?
That possible in a way.. But still its up to you if you want to be corrupted or to be a corruot like the others do.. But do you think they can do that here in bitcoin? For sure the organizers here are monitoring this every now and then right? Oh well you can't really tell actually specially in money matter..


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April 06, 2018, 03:54:14 PM
 #1889

It depends: it is clear that bitcoin can be used to pay bribes, but with the fact that every transaction remains registered forever, it is probably too risky. Cash is always better.

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April 06, 2018, 04:02:59 PM
 #1890

It depends: it is clear that bitcoin can be used to pay bribes, but with the fact that every transaction remains registered forever, it is probably too risky. Cash is always better.
Yeah everything thing that  has value will be used as a medium of corruption like bitcoin because you can give bitcoin as a bribe to any one but  good things in bitcoin this traceable, because transaction can be trace

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April 06, 2018, 04:04:18 PM
 #1891

I think so. Because with bitcoin it has become very convenient to get bribes. Now you do not have to give cash, just throw on bitcoin address.
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April 06, 2018, 04:06:35 PM
 #1892

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?
Many say that bitcoin can lead to corruption, but remember that these currencies are a choice for investors. With the current situation, Bitcoin is supposed to be a good choice for hackers to steal the money from the owners easily.

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April 06, 2018, 04:12:33 PM
 #1893

I'll be locking this thread since I already know the answer to my question.  We have a different point of views regarding the use of bitcoin in terms of corruption. Most people say that it can be a way for people to use it to hide their money since it's transaction is directed to blockchain and because bitcoin is decentralized and pseudo-anonymous. My take on this is that greedy people will always find a way to launder money and do whatever it takes to not get caught. Amongst many other ways, bitcoin is a good way to do so.

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