Politicians fear cryptocurrency because it will stop corruption.

[Neltharion]

Yes, many of the opponents of cryptocurrency say it is good for drug trafficking or arms. But I think this is a deliberate expansion of some politicians. In fact, corruption is a more serious problem. Such a society is low-level.

[nguli]

yes you are right because this blockchain technology and cryptocurrency can track all the owners of the wallet that is used so as to make corruptors deterred.

[@Mhaiang]

Does cryptocurrency really make them fear of committing corruption, crimes, shady activities, or the so-called money laundering? I think NO. Cryptocurrency is not transparent as it is a decentralized transaction made on the blockchain. It's the safest way to transact without being traced or have your personal information exposed.

[Cliparts]

No. Politicians fear many things but not bitcoin. The anonymous structure of bitcoin makes it possible for criminal activities to carried out using bitcoin.

Yes you are right I think politicians have no fear of crypto currency the bitcoin because it has no harm for them, bitcoin is able to use for everything and it has no effect on their economy but it will improve their money safety, so if they are I think they should not be, apparently bitcoin does not have any effect to the community and it only use to increase everyone month for profit and security of income for long time.

[peach]

The title of this thread alone is nothing but truth

[best ever]

At present, politicians and governments have got a glimpse of cryptocurrency. Corruption is not related to cryptocurrency, there are many forms of corruption, your opinion is only true in one aspect.

I also cannot understand how the cryptocurrencies stop the corruption.  yes, the crypto is anonymous but who will prevent a person to send his BTC or altcoins to another one as a bribe?

[Bagaji]

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.

All depends on what you meant by politicians because am very much aware of the fact that most of the politicians particularly those who are corrupt make use of Bitcoin and crypto currency in general in their money laundry across the country and convert their cash to crypto currency so that the financial institutions in their country will not have access or information to the cash belonging to them.

[Leyss]

I disagree tottally with the above assertion that "politicians believe that bitcoin will stop corruption".
As a matter of fact, bitcoin helps politicians to be more corrupt without anyone noticing.
So politicians like bitcoin.

They can launder money with bitcoin untraced.

I think so too. Politicians are not at all afraid of crypto currency in the sense that it can in some way stop the corruption. Since corruption is a crime, politicians will be more than happy to use crypto currency for these purposes in order to remain in the shadow. Anonymity of crypto currency can use absolutely everything, including politics.

[Rustamm]

I do not understand how the crypto currency can stop corruption, what is the relationship between them. It seems to me that it will be very good for corrupt officials to approach the Crypto-currency to take bribes in the Crypto-currency. Then it will be very difficult to prove the fact of receiving a bribe. Therefore, I believe that politicians are afraid of crypto currency for quite a different reason - first of all, loss of control over cash flows. Who owns this information, he has real power. Thus, because of the introduction of crypto currency, politicians are afraid to lose their power.

[Moiyah]

Apparently, there are still politicians who are supporting cryptocurrency and blockchain thing. There are still good politicians who wish to acknowledge the potential of this rypto thing. But I must admit, most of the politiciand are really afraid to accept bitcoin on their system. We all know why.

[WUUEX79]

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.

You're right OP. I think this thing is the main reason behind the various types of state restrictions on cryptocurrencies. Officials and politicians are a group of hypocrites. I know, not all officials have bad character surely there are still officials who have good character. Unfortunately, good officials position's lower if compared to bad officials. I'm sure to this day there are still good officials who have a positive outlook on cryptocurrency, but due to there's pressure from corrupt superiors then the benefits of cryptocurrency cannot be developed/realized especially for the wider community.

[arthotdog]

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.

You’ve got it there budz,politicians are afraid of the decentralization and the transparency cryptocurrency might give(ofcourse aside from ripple and other centralized coins)

This is what the reason why Japan is enjoying the crypto as their currency because of this and why many countries hated on the other side

[Commotheon]

I disagree tottally with the above assertion that "politicians believe that bitcoin will stop corruption".
As a matter of fact, bitcoin helps politicians to be more corrupt without anyone noticing.
So politicians like bitcoin.

They can launder money with bitcoin untraced.

I don't think it can stop the corruption the question is what's the relation between a cryptocurrencies and Politicians?. Bitcoin is decentralized which is working for their user to increase their profit.Its just a internet currencies and nothing.

[Howits]

I disagree tottally with the above assertion that "politicians believe that bitcoin will stop corruption".
As a matter of fact, bitcoin helps politicians to be more corrupt without anyone noticing.
So politicians like bitcoin.

They can launder money with bitcoin untraced.

I heard not only normal peoples but politicians are also involve with bitcoins and investing with it.Correct me if i am wrong i don't see anything relate that makes politicians fear.

[feelivent]

I disagree tottally with the above assertion that "politicians believe that bitcoin will stop corruption".
As a matter of fact, bitcoin helps politicians to be more corrupt without anyone noticing.
So politicians like bitcoin.

They can launder money with bitcoin untraced.

No I don’t think so because many people have putted their black money in bitcoin and that is the reason that many governments in the world have banned cryptocurrency in their respective countries. They want to stop investing illegal money. My country has also banned cryptocurrency few months ago, but I am sure they will allow its trading again.

[lingwistiko]

I think they will only laugh it out as they know that they will be safe from being detected for money laundering. Crypto will not stop corruption because it will be perfect tool for corruption to proliferate. Cryptocurrencies being decentralize is one of the reason why some countries imposed total banned on cryptos.

[Beegovere]

No. Politicians fear many things but not bitcoin. The anonymous structure of bitcoin makes it possible for criminal activities to carried out using bitcoin.

These are not only politicians that make corruption, ordinary people also make corruption but I think cryptocurrency is not capable to stop corruption, rather it is the safest way to hide illegal money. Nobody ask for the source of investment. How they earn such huge money which they want to invest in cryptocurrency. Now tell me how crypto will stop corruption?

[CoinEraser]

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 you can stop corruption with crypto. People will always find new ways to continue with corruption undetected. As long as there is still fiat money, the blockchain is no problem and even if at some point there may not be any fiat money left, you can still use gold, silver or other stuff as a payment. The blockchain will certainly change a lot, but it will certainly prevent corruption problems, unfortunately. 

[BeGoods]

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.

Cryptocurrency is good tool for hiding their corruption. Most politician afraid on cryptocurrency because banks lobby very strong. Cryptocurrency will keep going forward even government dont regulate because crypto market already stand more than 9 years and growing more bigger every year

As long as bitcoin is still decentralized and anonymous, politicians will never be afraid of being caught in their corruption because anonymously will always make them undercover. what they fear is regulation that makes all exchanges become centralized and asks for verification of personal data because it can allow them to be seen in money laundering or corruption cases

[bongnor531]

The ones who managed to steal money via corruption will find a way to do so even if there is a cryptocurrency revolution. And those leaders are usually fond of very centralized systems, so maybe the decentralized nature of crypto is what might make them suspicious.