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Author Topic: Politicians fear cryptocurrency because it will stop corruption.  (Read 824 times)
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August 23, 2018, 12:21:17 AM
 #161

The transparent nature of the cryptocurrency industry is one of the Paramount reasons why politicians are kicking hard from all angles against it.Well,I am glad that despite all these agialtations,the industry moves on .One day full potentials will be established. Share your views.

Even if bitcoin grow and prosper more or not if a government official is corrupt, then he or she still finds a way to do such thing. Corruption really exist with or without cryptocurrency.
I guess you're right.But i think corruption might be atleast minimized knowing that cryptocurrency is a decentralized one which cannot be controlled by the government unlike fiat currency itself.Hopefully cryptocurrency will be finally legalized so that corrupt politicians will be slowly out in the government too and see progress in our country's economy.

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August 23, 2018, 12:46:11 AM
 #162

Blockchain's can be used in all manner of ways the at least suppress corruption. Think of it in the case of voting. There's obviously a real agenda amongst some to control or manipulate voting procedures. If votes were transparent, private, immutable and automatically allotted we'd have a far more trustworthy system of voting. That's just one of the simple ways DLT's can be used for good.

Granted, separating state and currency would be a huge victory for freedom, but if we start with more manageable items it's only a matter of time before we move on to bigger things.
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August 23, 2018, 12:55:31 AM
 #163

i think it is not the currency itself that politicians are afraid of, i think the essence of blockchains and the nature of being decentralized is what they are afraid of. there are even politicians that are into cryptocurrency trading, there are celebrities that jumped into trading, soon almost all system will adapt the blockchain technology such as payment system, banking system, but this is way too early to predict, blockchain technology is still in debate over many countries, for it to penetrate the mainstream, all nation should first adapt it, if not, then this will remain a stigma.

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August 23, 2018, 01:23:37 AM
 #164

It can not stop anymore corruption because it depends on the people who seated in government. They not afraid to do so because they have position. They used their position to earn easily. And the citizen on their country will suffer them because the taxes that given to government was useful.

When the bitcoin will legalize in certain country, they need accept first the program of the bitcoin and change how they view in certain topic specifically crypto or bitcoin
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August 23, 2018, 01:57:16 AM
 #165

The transparent nature of the cryptocurrency industry is one of the Paramount reasons why politicians are kicking hard from all angles against it.Well,I am glad that despite all these agialtations,the industry moves on .One day full potentials will be established. Share your views.
transparency, decentralization.
I think that's the reason why there are still many countries that don't accept bitcoin, they are obviously afraid of that. it's the same as turning off their steps to commit corruption.
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August 23, 2018, 02:08:12 AM
 #166

i think it is not the currency itself that politicians are afraid of, i think the essence of blockchains and the nature of being decentralized is what they are afraid of. there are even politicians that are into cryptocurrency trading, there are celebrities that jumped into trading, soon almost all system will adapt the blockchain technology such as payment system, banking system, but this is way too early to predict, blockchain technology is still in debate over many countries, for it to penetrate the mainstream, all nation should first adapt it, if not, then this will remain a stigma.
Yes, mate, I agreed with your statement, they afraid bitcoin because they think that this will be the big competitor to them against the government because of being decentralized bitcoin they are afraid. But there are some others didn't afraid on bitcoin they used this to hide their liabilities and asset in order not to pay taxes. In this case yes maybe bitcoin used to hide the corruption.

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August 23, 2018, 02:29:16 AM
 #167

The transparent nature of the cryptocurrency industry is one of the Paramount reasons why politicians are kicking hard from all angles against it.Well,I am glad that despite all these agialtations,the industry moves on .One day full potentials will be established. Share your views.

Even if bitcoin grow and prosper more or not if a government official is corrupt, then he or she still finds a way to do such thing. Corruption really exist with or without cryptocurrency.
I guess you're right.But i think corruption might be atleast minimized knowing that cryptocurrency is a decentralized one which cannot be controlled by the government unlike fiat currency itself.Hopefully cryptocurrency will be finally legalized so that corrupt politicians will be slowly out in the government too and see progress in our country's economy.
How will corruption decrease if they know how to hide their identity in crypto and make themselves undercover? You don't know
how many wallet and address they have right? I thought it would be a double-edged knife. it might reduce but it might add corruption

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August 23, 2018, 02:37:38 AM
 #168

The transparent nature of the cryptocurrency industry is one of the Paramount reasons why politicians are kicking hard from all angles against it.Well,I am glad that despite all these agialtations,the industry moves on .One day full potentials will be established. Share your views.

Even if bitcoin grow and prosper more or not if a government official is corrupt, then he or she still finds a way to do such thing. Corruption really exist with or without cryptocurrency.
I guess you're right.But i think corruption might be atleast minimized knowing that cryptocurrency is a decentralized one which cannot be controlled by the government unlike fiat currency itself.Hopefully cryptocurrency will be finally legalized so that corrupt politicians will be slowly out in the government too and see progress in our country's economy.
I don't think corruption will slowed down or stop by the crypto currencies especially Bitcoin since they are not centralized, they are decentralized meaning they can hide their transactions whenever they want.

They can corrupt a lot of money from the government and using the cryptocurrencies to hide this transaction. This is the reason why there are a lot of criminals that want to use cryptocurrencies since there are a lot of other cryptocurrencies that has a complete or fully give users anonymity. I don't know what will be the greater good but I don't want these politicians lurking up on the transactions and making their own private transactions to launder money and have a lot of other transactions to terrorists or bad groups.

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August 23, 2018, 08:25:27 AM
 #169

that it thanks to bitcoin to decrease it is possible, but I do not think that it will be stopped in all

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August 23, 2018, 08:50:44 AM
 #170

It's not exactly true. The confidentiality of digital money more than paper money. This means that digital money can increase corruption. The only reason for their fears is that people will be free and this is not beneficial for the state and also people.

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August 23, 2018, 09:07:27 AM
 #171

The transparent nature of the cryptocurrency industry is one of the Paramount reasons why politicians are kicking hard from all angles against it.Well,I am glad that despite all these agialtations,the industry moves on .One day full potentials will be established. Share your views.

I don't think so that the politicians are afraid of cryptocurrency because it can stop corruption. CRyptocurrency can't really stop corruption and also it is more prone into money laundering as in cryptocurrency you don't have to reveal your identity.

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August 23, 2018, 09:18:27 AM
 #172

I think the cryptocurrency system is not entirely transparent, because even though we can see all transactions, the transaction is still anonymous so that it can still be used for corrupt practices such as money laundering

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August 23, 2018, 11:14:16 AM
 #173

The transparent nature of the cryptocurrency industry is one of the Paramount reasons why politicians are kicking hard from all angles against it.Well,I am glad that despite all these agialtations,the industry moves on .One day full potentials will be established. Share your views.
This seems reasonable and reliable answer - opinion. And I think in my country is really seeable. Because politics in my particular country are very filthy and corrupted. They don't want crypto.

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August 23, 2018, 01:16:29 PM
 #174

i think it is not the currency itself that politicians are afraid of, i think the essence of blockchains and the nature of being decentralized is what they are afraid of. there are even politicians that are into cryptocurrency trading, there are celebrities that jumped into trading, soon almost all system will adapt the blockchain technology such as payment system, banking system, but this is way too early to predict, blockchain technology is still in debate over many countries, for it to penetrate the mainstream, all nation should first adapt it, if not, then this will remain a stigma.

Hm. Many politicians hold the cryptocurrency. They invest millions in Bitcoin and other cryptos. I doubt that they are really afraid of it. Blockchain cannot also affect their activities.

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August 23, 2018, 01:43:01 PM
 #175

Corruption will be there with or without crypto as long as the morality is bad, certainly a decentralized or more transparent system can help decreasing that kind of thing but you shouldn't forget that bitcoin itself is pseudo-anonymous and they can use it to do bad thing. It's also will take a long time to implement blockchain to every aspect of our life.

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August 23, 2018, 02:44:27 PM
 #176

Lol, in many places politicians fear anything that is transparent in the business world... However, most of them are not really familiar with crypto just yet I think
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August 23, 2018, 04:24:09 PM
 #177

yes cryptocurrency has a very positive impact on politics because it can avoid and stop corruption because all assets owned by the government will be known by all people. so it will be very difficult if used for corruption.


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August 25, 2018, 06:30:49 AM
 #178

I believe that the use of cryptocurrencies is very wide and will fight not only corruption, but also the slowdown in payments when it comes to Intercontinental transfers
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August 25, 2018, 08:10:31 AM
 #179

I agree with OP because no government is willing to accept crypto with is a trustless currency and everything done will be seen by the public for criticizing purposes and hence will limit their ability to steal our monies Smiley. In fact, these politicians fear blockchain technology and only a few a ready to accept blockchain tech.

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August 25, 2018, 08:35:20 AM
 #180

Yes, the transparency and clarity of cryptocurrency will make politicians do not "like" cryptocurrency. Especially in countries that do not accept cryptocurrency.
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