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Lieldoryn
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October 11, 2017, 08:43:54 AM |
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In my country many officials actually bought bitcoins and now to tell about what they did in 2010. Only if desired, they can be easily accused of fraud and tax evasion. No one wants to do. The government spreads the rumor that we need to ban bitcoin due to the fact that they launder money, only to deny doing it to ordinary people.
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"Bitcoin: mining our own business since 2009" -- Pieter Wuille
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wahb
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October 11, 2017, 11:58:57 PM |
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In my country many officials actually bought bitcoins and now to tell about what they did in 2010. Only if desired, they can be easily accused of fraud and tax evasion. No one wants to do. The government spreads the rumor that we need to ban bitcoin due to the fact that they launder money, only to deny doing it to ordinary people.
No I think bitcoin and corruption are two different things. Corruption cannot be stopped with bitcoin rather many people think that bitcoin will cause of more corruption. Corrupt people will invest their illegal money in bitcoin because they cannot use such money anywhere in the world otherwise they will be caught by the investigating agencies. Therefore they thing that bitcoin is the safest way to invest black money. |
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jseverson
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October 12, 2017, 03:45:43 AM |
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I see no way for Bitcoin to fight corruption. I mean, sure, every transaction is recorded and transparent, but they're also all anonymous to a degree with no regulating body. It would take a hell of a lot of resources to pin down an address to a single person, so a large scale anti-corruption operation would take ages. The same reason is also why it's being used to launder money.
Blockchain technology is a different story though. Governments are already looking to use it to improve convenience and transparency. Dubai is planning on doing this with their land registry to eliminate the need for their citizens to visit physical offices, leaving the process with less room for corruption.
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MCVXYZ
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Activity: 630
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December 01, 2017, 07:29:38 PM |
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In my opinion,All big players of the market agreed on the publicity of information and they are ready to give a special information to investigative authorities if they doubt in any transfer,Just imagine,In another situation all goverments will ban bitcoin,because criminality will be the main problem.despite this,I think there is a great balance and the price of bitcoin is rising day by day.By this balance, it’s much easier to investigate crime and nowadays,it has a great role in justice.
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lepricoin
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umachit.fund
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December 01, 2017, 10:41:29 PM |
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There have always been scammers and corruption, and this is not a problem of bitcoins, it is a problem of society and countries. If you look at this side, anonymity in the network bitcoin is not the best thing.
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Kingofbitcoin12345
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December 02, 2017, 02:08:55 AM |
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Both ways because it can be used in that perspective.. But it doesn’t really happening on bitcoin or cryptocurrency alone because for a long time this practice is been done on fiat currency.. I can’t clearly state on what matter cryptocurrency can fight corruption but we can work it out soon and money laundering is a really big problem to our society now and I’m sure this platform is already abused by those criminals..
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entrepmind23
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December 02, 2017, 02:50:36 AM |
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It would depend on the person who uses it. It can be use to fight corruption because of the transparency of transactions but the problem with it is the anonymity of the one who uses it. If however, government would use it, I am sure there would be records as to who are the one who use the addresses so that it would be easily identifiable as to who is responsible in case something happens to the funds and the auditor too can do something about the policies and procedures so that they can easily trace the flow of transaction.
Money laundering would be easy too because of the fact that the people behind the addresses cannot be determined easily. A lot of bad publicity about bitcoin is connected to money laundering which we cannot deny is possible but money laundering can be done using other means too like cash so they cannot just easily spout about bitcoin being bad money because if a person intends to do something illegally, he will do it whether it would be bitcoin or cash for that matter.
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Basmic
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December 02, 2017, 09:18:18 PM |
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To launder money using bitcoin is easy because the government does not recognize bitcoin. In my country many corrupt officials use bitcoin in order to legalize their income. They declare that bought bitcoins in 2010 for a few hundred dollars and now become millionaires. The tax on capital gains we have about 5%. Paradise for legalization.
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ApocalypseNow
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December 05, 2017, 08:52:53 AM |
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Bitcoin will prevent any fake projects because they need to include the details in the blockchain so yes it is a very good way to fight corruption. Every transcations in the government should be like that. The money laundering can still be avoided if every exchanges and trading sites will cooperate.
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Laland
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Bounty manager
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December 05, 2017, 10:33:29 AM |
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Bitcoin will prevent any fake projects because they need to include the details in the blockchain so yes it is a very good way to fight corruption. Every transcations in the government should be like that. The money laundering can still be avoided if every exchanges and trading sites will cooperate.
I kind of agree that it will fight corruption but not in the same way. If a corporation would invest in bitcoin, then they wont need to make high prices,they would even lower the commodities and if a government would want to invest in bitcoin,their is a high chance that they will have another source of income and they could lower taxes. |
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Sean25pogi
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December 07, 2017, 01:48:01 PM |
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I cannot suggest it will fight against corruption since there is no system that can provoke them as long as there is corrupt person in the government it will remain this kind of illegal actions.
It is great opportunity use bitcoin for laundering system to help some people to start something new in their life.
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Lampaster
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December 07, 2017, 02:51:34 PM |
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Bitcoin will prevent any fake projects because they need to include the details in the blockchain so yes it is a very good way to fight corruption. Every transcations in the government should be like that. The money laundering can still be avoided if every exchanges and trading sites will cooperate.
I kind of agree that it will fight corruption but not in the same way. If a corporation would invest in bitcoin, then they wont need to make high prices,they would even lower the commodities and if a government would want to invest in bitcoin,their is a high chance that they will have another source of income and they could lower taxes. Lol! Who will reduce taxes? This will never happen. the government will not use bitcoins. They cannot be controlled. The tax the government uses not only to serve the life of the state. It seems to me that tax is used to ensure that people always felt the lack of funds and was dependent on the state. |
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loof99
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December 15, 2017, 11:17:23 AM |
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I think in this case bitcoin do both things in our society. The company of bitcoin builds a systemize and well-organized process in all aspect wherein they can lessen the conflict of interest by some individual which leads to no corruption. Another thing it is great launder in money to provide assistance in some fellowmen.
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ecnalubma
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December 15, 2017, 12:57:27 PM |
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Bitcoin is not really anonymous, those who get involved in negative activities are caught immediately with the help of the blockchain. This time launderers and criminals think twice before they use bitcoin as system of payments. I guess They prefer other altcoins to secure their anonymity and maintain stealth status.
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Samarkand
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December 15, 2017, 02:04:20 PM |
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... those who get involved in negative activities are caught immediately with the help of the blockchain...
"Immediately" is a bit of stretch. Nonetheless, blockchain analysis is evolving fast due to increasing interest by law enforcement and tax offices all over the world. Regarding the original question of the OP: Why would anyone want a corruption-related transaction on an immutable, public ledger? It really makes no sense. I guess when Bitcoin was in its infancy it was suitable for this purpose, but nowadays there are simply more anonymous and secure options available. |
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sindikat
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December 15, 2017, 02:46:56 PM |
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Bitcoin is not really anonymous, those who get involved in negative activities are caught immediately with the help of the blockchain. This time launderers and criminals think twice before they use bitcoin as system of payments. I guess They prefer other altcoins to secure their anonymity and maintain stealth status.
The main income from illegal activities of criminals get into Fiat. Money laundering is the term used by corrupt officials in order to gain access illegally acquired money. There are many law enforcement agencies which must identify the offender at the time of the crime. Then find any money is very difficult. Attempt to prosecute bitcoin is a hidden desire to leave everything as is. |
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carlfebz2
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December 15, 2017, 03:32:09 PM |
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Bitcoin is not really anonymous, those who get involved in negative activities are caught immediately with the help of the blockchain. This time launderers and criminals think twice before they use bitcoin as system of payments. I guess They prefer other altcoins to secure their anonymity and maintain stealth status.
Its possible but not actually an easy job to do for sure and thinking off that those corrupt people will surely make the best possible move for them on not to be traced.The thing here is that they do able to deposit corrupted money by means of fiat exchanging to bitcoin which would really able for us to track up if someone would really enforce or investigate. Fighting corruption would be somehow hard specially if it already involve on online matters specially on anonymity it would really be a tough job for investigators. |
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sukamasoto
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Black Panther
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December 15, 2017, 03:47:32 PM |
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Bitcoin is not really anonymous, those who get involved in negative activities are caught immediately with the help of the blockchain. This time launderers and criminals think twice before they use bitcoin as system of payments. I guess They prefer other altcoins to secure their anonymity and maintain stealth status.
That's why my government decide to make a new regulation on 2018 and mostly will forbid bitcoin for main transaction. Personally I have no problem if I can't purchase good with bitcoin, but as long as I can still trade, I will adapt with government's regulation ! |
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barbenoire123
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Solution for reliable global money transactions
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December 15, 2017, 03:59:43 PM |
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the bitcoin depends on its owner it can be a way of money laundering that c sure since it is untranslatable but in no case it will be a means of corruption because the coruption is human she has no report with the bitcoin
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Kemarit
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Merit: 1353
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December 16, 2017, 06:04:59 PM |
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Bitcoin is not really anonymous, those who get involved in negative activities are caught immediately with the help of the blockchain. This time launderers and criminals think twice before they use bitcoin as system of payments. I guess They prefer other altcoins to secure their anonymity and maintain stealth status.
Its possible but not actually an easy job to do for sure and thinking off that those corrupt people will surely make the best possible move for them on not to be traced.The thing here is that they do able to deposit corrupted money by means of fiat exchanging to bitcoin which would really able for us to track up if someone would really enforce or investigate. Fighting corruption would be somehow hard specially if it already involve on online matters specially on anonymity it would really be a tough job for investigators. We already know that bitcoin is not really anonymous. However, criminals or those corrupt thinks that it is the best way to used because its very easy but you can be followed and tracked in blockchain unless they do hide thorough TOR or mixing services. But the thing is once the money goes to a exchanges because you need it to convert it to FIAT then you can be caught. It will take time for investigator but they will if they decided to really hunt those money launderers. But as far as bitcoin fighting corruption? I don't think it applies to bitcoin. In addition, if criminals or money launderers wants to really hide their identity, there are coins out there that they can really used. (Monero, Zcash). |
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