Politicians fear cryptocurrency because it will stop corruption.

[blackhawkeye1912]

Yes, politicians and people in the government are not into crypto because of the transparancy in nature. Most of the politicians make transactions with taste of corruption one way or another. Bigger or smaller. They admitted or not, it is the culture of politics.

[ngamuk tok]

very clearly, politicians can not accept a system that works transparently.
because it would bother them to do money laundering.
because the blockchain system can not be manipulated.

[Spaffin]

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.

The government thinks least of all that the crypto currency can somehow influence the situation with corruption. In any case, the financing of the economy will always be in ordinary currency and therefore corruption will always be. The most important thing for any government is that they can not control the decentralized crypto currency.

[btc-facebook]

No , it will make worse for corruption because they can cover their transaction from the police ( the police need to resolve harder )
Cryptocurrency also able to make inflation if some country weak against dollar ( That's my case )

I think these are the reason why my government still forbid cryptocurrency !

[Mark13]

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.

Politicians did'nt fear on crypto to stop corruption. The main reasons I think was it is hard to impose taxes on it. How the government will interact for those transactions of each users and investors.

Also in some case, politicians convert their fiat into crypto to hide their wealth so the government canot trace it. It is somehow used by those corrupt as a hiding place.

[rasp]

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.

The distinguishing feature of cryptocurrency is its anonymity, so why are you so sure that crypto will help to combat corruption?
What prevents a politician from making a wallet and accepting bribes in bitcoins taking into account the current exchange rate?   

[Rizky Aditya]

Honestly if you still think that politicians are doing corruption hiddenly you are very wrong. We all know
companies that lobbies for the politicians and pay them to select the thing they like or do the thing they want and we can all see how much money the lobbyists pay the politicians yet there is nothing people can change or at least noone did anything about it. For example just last year Internet freedom as we know of was in trouble and we knew the politicians who got paid to favor internet companies instead of people, yet they are still in their seats.

[squog]

Maybe in the future but definitely not today. I mean verification itself is still not that solid and people could get away with cashing in so much then cashing out again. Also, since crypto currency is decentralized, people could wire transfer any amount of token to another person in the opposite part if the globe and juat stockpile it there.

[petrobit]

Polytypes have many reasons to fear crypto besides corruption. Anonymity, decentralization, too, do not cause them rapid approval. It's especially funny to hear criticism from crypto from such as Buffett, who made their fortune by direct speculation.

[embargo]

Of course, the emergence of the crypto currency removes all intermediaries in the calculations, and hence the corrational component. Very mono officials earn, control budget money. If we assume that at the state level, the blockade of technology will be allowed and implemented, then this will benefit ordinary people.

[AleSergio]

Mate I dont believe that cryptocurrency can stop corruption, I think corruption will be just much more easier with digital currency rather than with fiat.
Like really I just can send ETH somewhere and nobody would know that I have done this.

[jademacoy]

I am thinking and still wondering how politicians could be stop or even preventing on doing corruption. As we all know that centralized form of transaction is present and it could never be removed because it is need to be balance. Centralized and decentralized form of currency should always be present a study shows it is not effective for the economy to have absolute centralized or absolute decentralized form so even with or without these forms of doing business politicians could still made or do corruption.

[hashshashin]

I believe that crypto currencies can improve the economy, but those people who take bribes and engage in corruption will still find a way to do it.

[pinoyden]

Yes i agree . that is also what im thinking about . i guess that is the real reason on why there are some few countries that curently bans cryptos . policians are maybe scared because they cant get a tax if crypto did become a mainstream curency to a specific country . although not all politicians are corrupt because most of them are still supporting the development of cryptos and we can already see it because there are now a lot of countries that widely adapts cryptocurrency for regular usage .

[casternetwork]

Agree with your comments. If Bitcoin is accepted in a country, politicians will be the most worried. But I do not think that Bitcoin can repel corruption. Because there are many other things that can help corrupt politicians like cash or gold

[Baresh]

Definitely, most of the politicians fear cryptocurrency because they cannot regulate the transactions in cryptoworld, in that matter they cannot even corrupt as what they usually doing.

[Bezobraznike]

Definitely, most of the politicians fear cryptocurrency because they cannot regulate the transactions in cryptoworld, in that matter they cannot even corrupt as what they usually doing.

   They can`t regulate it, they can`t control it, and crypto-currencies are not main source of their income,
fiat is.
   But not all politicians are bad. There are good ones and there are advanced countries. Some countries
already adopted Bitcoin, other will do that too when big ones force them to.
    Many politicians are just old fashioned, they don`t recognize potential of technology and they advocate
traditional ways.
   New generations are technology oriented. This old politicians will finish their carriers soon, new time is
very close.

[cydrix]

I think it's the other way around. Politicians and other illegal members of the society will have secure transactions throughout the entire world having access to bitcoin means you have full control of your money and nothing to be feared of having a freezed account or credit/debit card. The problem is the accuracy of money in Bitcoin is unstable it could go down easily without notice so it's a hard choice between having a bank to rely on which can give you full responsibility to their service like having insured money incase it was robbed out of the bank but Bitcoin isn't like that.

[rlm42]

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.

[Alert31]

    Cryptocurrency will not stop corruption because corruption exist first in the mind of a person. I think politicians not fear in cryptocurrency,who knows politicians also investing in crypto because they know how profitable it is. Bitcoin is decentralized and politicians can't regulate it but they can invest on it to earn more profit since bitcoin is anonymous. You know other people are so greedy and sometimes do not care about others.