Politicians fear cryptocurrency because it will stop corruption.

[DeadCoin]

Crypto is another source for politicians and big business men for money laundering and corruption. But all politicians may not be aware of it besides the educated and the politicians who have support of educated advisors. Besides their own fiats all other currencies including crypto currencies can be used for illegal acts and corruptions. But this is really good for crypto's growth as all stagnant money is circulated and crypto currencies get chances of manipulating it.

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[gabmen]

It seems to me the main reason why the state loses cryptocurrency is the loss of control over the economic sphere. Since the nature of bitcoin is contrary to the nature of statehood.

Well if regular people can take advantage of cryptocurrencies, why can't politicians? I mean, it's anonymous nature cam be of well used for corruption. Let:s face it, as it stands, we can't run from corrupt politicians running our country.

[fabrizoc]

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 they are afraid of Bitcoin. Assuming that Bitcoin is being used by any country where the politicians are corrupt, the country will be losing millions everyday without them being able to pinpoint exactly where the problem coming or who is doing it. Someone can even hack the country’s store of Bitcoin and steal everything in it, or some group of politicians can carry out evil plans to make away with the country’s money through Bitcoin. This is likely to take place in developing countries.

[AnonBitCoiner]

The solid truth is yes.It's due to the transfernce of cryptocurrency.If bitcoin became a legal in particular country,the illegal investors such as politicians will be captured with the bank accounts.So their will be some transference.This is the cause for politicians fear about cryptocurrency.

[toolucky98]

I don’t see how it will stop corruption. Corruption is rooted from greediness and I believe that politicians will continue to become greedy despite of the presence of cryptocurrency. How will that stop them from abusing their power and authority? They don’t fear crypto because they actually have the power to declare a ban. You probably heard some negativity from them because of how much money it generates and they’re probably just jealous of the people exploiting it when they’re the ones who should be able to exploit it for money.

corruption and misuse of money there will always be, because they will always look for ways to do it

[Shenzou]

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.

Apart from corruption politicians are afraid from bitcoin just for that, but also because they were not the firsts to support it, and they always tell people that it is not going to be any good and it is just a bubble and soon it will explode, and they were wrong , and because a lot of those who invested in it earlier and who becamed rich from, so politicians don't want it to flowrish and become a big thing because it does not meet their interests.

[beej]

I think crypto won't stop corruption if governments fully accept and implement
cryptocurrencies. But it however poses as an underlying threat since a lot of the
politicians have yet fully understood what crypto is fully capable of in the long
run. If these politicians do fear crypto maybe it's due to personal reasons that
always involves money and personal gains. Politics is serious money after all.

[repzaj]

even the cryptocurrency is the new currency of every natiob thw corrupted people is always there because corruption is the value of being greedy. I think the government fear the crypto because the number 1 problem will be the tax evasions.

[bubidan.id]

I think crypto won't stop corruption if governments fully accept and implement
cryptocurrencies. But it however poses as an underlying threat since a lot of the
politicians have yet fully understood what crypto is fully capable of in the long
run. If these politicians do fear crypto maybe it's due to personal reasons that
always involves money and personal gains. Politics is serious money after all.

There are still many ways to practice corruption, with blockchain or cryptocurrency this will not stop the rate of corruption.
As far as I know, there are many political people who know and support cryptocurrency, they start to learn. And the government began to glance and do many experiments on blockchain and cryptocurrency, but again this will not reduce the rate of corruption. There is always a way because human is in fact created with the intellect of mind.   

[Koadharber]

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.

Not really at all yet politicians do really love it instead. Why? because they can able to hide up funds that they do have corrupted but when we do talk on the other side where blockchain tech would be implemented in terms of payment or budget system then its the end for those people who do involve on corrupting funds because they are the ones who do involve anomaly when there is already a liquidation but when crypto is already on the line then it would be an another story.

[donalfonso]

I fail to see how cryptocurrencies will stop corruption. Infact I believe the decentralized nature of cryptos will allow corruption to thrive the only reason it hasnt started is because most politicians have not grasped what crypto currencies are all about.

[Jr.]

Not really, corrupted money can be also turn into crypto without trace since once they turn stolen money into digital wallets and turn into Altcoin it is hard to trace now since they can divide the money into different wallets...

[thomas_goal]

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.

Not really at all yet politicians do really love it instead. Why? because they can able to hide up funds that they do have corrupted but when we do talk on the other side where blockchain tech would be implemented in terms of payment or budget system then its the end for those people who do involve on corrupting funds because they are the ones who do involve anomaly when there is already a liquidation but when crypto is already on the line then it would be an another story.

What do you mean exactly? I agree that they can hide money quite easily in it because they can do favors and then accept crypto as a means of payment. There's always a way to return a favor, and crypto happens to be a more convenient one because it's not easily traced.

But in terms of blockchain for budget, you mean they won't be able to tunnel funds out of it so easily? Or they won't be able to misdirect it, and spend it somewhere else? Couldn't they still spend it in favor of certain interest or lobby groups if they wanted?

[darkangel11]

It seems to me the main reason why the state loses cryptocurrency is the loss of control over the economic sphere. Since the nature of bitcoin is contrary to the nature of statehood.

Well if regular people can take advantage of cryptocurrencies, why can't politicians? I mean, it's anonymous nature cam be of well used for corruption. Let:s face it, as it stands, we can't run from corrupt politicians running our country.

Because normal people can't be corrupt. To be corrupt you first have to be a person of power, a policeman, politician, judge, or any other civil servant. Money that leads to abuse of the powers given to you by the voters makes you corrupt. If a normal person uses BTC to gain advantage, hide income, leave the country, it's not that great, but when a politician does the same it not only abuses the trust given to him by the people, it kills the trust in the system and through it it kills the system itself. Corruption ultimately leads to loss of power and anarchy.

[jak3]

Yes, that's the absolute reason did you not want Bitcoin to be established because they do not want that their transactions go public. Recently do not care about the security but they are much more careful about the transparent network because all the transactions are visible to all of the people and any type of message can be sent using the blockchain network so where a lot of transactions which are harmful if known by the normal public. That's why they all hate it and avoid using it.

[CHENIEN]

For me, even cryptocurrency will totally implemented and legally endorsed by governments globally, the word corruption will still exist, and I think corruptions  will grow more when cryptocurrency legalize, but for now that cryptocurrency is decentralized system, corruptions is not directly enter on cryptocurrency business.

[Hkim21]

Corruption is not a problem that can be solved easily, cryptocurrency is not a tool that can be used to destroy corruption, instead it will open the way for corruptors to save dirty money, because decentraliztion system is quite safe and can not be supervised by the government.

[dewi91]

crypto currency can't stop corruption and politicians not fear crypto but crypto can be use to money laundering it may will make corruption grow because they can hide their money in crypto and it is the one of the reason why many countries banned bitcoin.

[Lagrood]

Yep, you are absolutely right and I also discussed this theme with my friends some time ago and we also came to the conclusion that crypto technologies are dangerous for politicians especially in the aspect of transparency. Unfortunately political systems are usually build on lie and that is why crypto technologies are not so suitable for politicians. I am sure that private business will appreciate the benefits of crypto technologies and mainly business will be the polygon for crypto technologies

[Sled]

This is true that the cryptocurrencies will stop the corruption because there is no way that they can corrupt the money of the people because the cryptocurrencies are transparent and because of that opportunity to have a transparent kind of system then the citizens or the people under those politicians can just see the transactions and identity and impeach the corrupt politician.