Can Bitcoin also lead to corruption ? - page 36.

justdimin

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Quote from: Eternu on October 30, 2017, 04:19:49 AM

Quote from: speem28 on April 11, 2017, 01:02:34 PM

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

Of course it can. It already lead to some nasty viruses out there, and I mean on electronic viruses. More and more people consider Bitcoin because it can provide easy money. Just by holding Bitcoins person can make a lot of money, from fluctuation of the price. I see no reason why some person that would accept fiat money would not accept Bitcoin (if they know what Bitcoin is). It is even better with Bitcoins, because Bitcoins can not be tracked that easy. And we all know that corrupted people would not like to be found. So it is possible.

Over time, people will keep understanding the necessities of building their wallet security, getting to understand how usable security works and adapting it to fast. The earlier the better when people started knowing that the use of 2FAs is very necessary and the era of using qwerty1234 as password has passed.

Hackers have always been targeting people in the past, by stealing credit card information, selling them and so on and so forth, so bitcoin did not cause that as it is simply a cyber problem that would keep going on and it is left for each person to brace up and get better at securing their assets.

Bluestreet

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Quote from: speem28 on April 11, 2017, 01:02:34 PM

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

Yes it can also lead to corruption, as bitcoins allow transaction freedom, which means that the person's information and their transaction details will limit to them only. They are free from any kind of taxes and transaction fees. In case of people like who involved in illegal activities, can benefit from it, as they will not have to show any information about the transaction, people involved in crime, like drug dealing, ransom money. Corruption will be increased as the person who wants to done his world will bribe the other without even letting know other about it. Man countries like Indonesia, Japan are feared but this fact that they had banned once cryptocurreny.

BTCeminjas

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Corruption is for those people selfish and greedy for money, when it comes money many tainted of this thing, because of this they will do corruption. Maybe in this situation bitcoin can involved for those people who have used it. Easy transaction and cannot trace it. We hope that it will never happen to this bitcoin.

quovadiz

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Quote from: bakunawaaa on October 31, 2017, 09:14:20 PM

Anything can be used for corruption. Bitcoin especially can be a good bribe material since it is in a way decentralized. People in government or in any public office wish to hide their wealth as much as possible so anything that is easy to conceal but has huge value in the econony is a target for corruption.

But i think still bitcoin is not so much poplar that people can take the risk to use bitcoin for corruption, specially those people will never accept bitcoin as bribe who do not have any idea about bitcoin, and i can hope that even in future bitcoin will remain as safe from any king of corruption or anything else.

bakunawaaa

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Anything can be used for corruption. Bitcoin especially can be a good bribe material since it is in a way decentralized. People in government or in any public office wish to hide their wealth as much as possible so anything that is easy to conceal but has huge value in the econony is a target for corruption.

MAHNOOR

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Quote from: AicecreaME on October 31, 2017, 11:08:33 AM

Quote from: Redanim on October 31, 2017, 10:51:58 AM

It is considered that it will be possible to get rid of corruption and theft only by changing society and institutions. However, it can be done much easier - with the help of computer technology, from which it will be impossible to hide. I believe that bitcoin in some part struggles with corruption.

For me, bitcoin will only lead to corruption if the government is on control of it but as long as it isn't then for me it won't lead into any kind of corrupting rather it could even help some people to earn some extra money. But yeah, theft is one thing the bitcoin holders should fear especially those who doesn't know how to protect their private key and passwords. Since bitcoin itself is hard to decrypt except for the computer where the priv key is on.

According to me this will not be possible but I heard that people used bitcoin for doing negative thing like using for drugs and smuggling so than I feels really weird and I think that one day this will also become possible to use bitcoin for doing corruption and it think after that bitcoin will lose all its importance in people vision.

brainape

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Quote from: Yankeestyle on October 31, 2017, 05:37:51 AM

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Quote from: kobmat on October 26, 2017, 02:54:16 AM

Quote from: speem28 on April 11, 2017, 01:02:34 PM

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

I think it can lead to corruption when the government will include on it. Because money are involved corruption is not possible in every economy.

It's not only the government can do corruption, even simple individual can make this kind of activity if they really aim to do so.
Bitcoin is just a payment system and it would not function if we will not use it, in short it's a tool so if we make illegal transactions using bitcoin, that is our fault and not on the system.

Blaming the gun for murder instead of the shooter is wrong. It is a very basic common sense and even crystal clear to a blind person. It is not the assets that produce corruption but the mean minds of politicians who are mere puppets in the hand of powerful ones like Rothschild, Nazi etc.

In addition to this, bitcoin is a savior. It has given freedom to common people. Nobody can snatch public’s money by heavy taxing.

I must appreciate your logic of reasoning. There is no way that we can blame bitcoin for being used in any kind of illegal activities or stuff like that. In fact, it is the faults of the ones who are having bitcoin in their pockets and who are actually encouraging use of bitcoin and other crypto currencies in such kind of activities. Bitcoin itself is a very profitable thing. We actually need to use it in a right way.

Obviously, the fault is on the side of users not the currency itself. It is us who are misusing bitcoin and destroying its image around the world otherwise those who have used in right way are now millionaires or earning decent amount of money with bitcoin.

Bitcoin is just like other currencies and even before bitcoin, corruption was there and people do corruption even with paper money.

It is us who are abusing bitcoin and crushing its picture the world over generally the individuals who have utilized as a part of right way are currently tycoons or gaining better than average measure of cash with bitcoin

I don’t think so but people observe a lot of people I am sure they will find a way to use bitcoin for corruption but I think this will need a full process and no one will ever spend time etc on this simply they need to use and earn bitcoin through with their hard work and investment in bitcoin.

Viscera

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If they will create a token that will give a boost bitcoin to pay more taxes, creating digital wallets are far more important. but pretty sure it may or may not happen in the first first.

ongels

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Yes it will happen also in bitcoin environment, as far as i know, most of the thing related to money issues are highly prone to corruption, Especially transactions using btc got's attention to the user because of freedom and anonymity of everybody. Perhaps this is the simplest way to make money laundering because government has no control and hard to tract transactions.

Maragan13

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It can also happen if its leaders are starting to get corrupt

coinholic

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Quote from: speem28 on April 11, 2017, 01:02:34 PM

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

Anything can lead to corruption. Especially if it is something we can profit from. Politicians and other powerful and influential personalities will find ways to monopolize anything that can increase their wealth and power. Sad, but this is how the game goes.. 😐

Clavulanic

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Quote from: Monnt on October 31, 2017, 11:51:14 AM

Quote from: Tigerheart3026 on October 29, 2017, 12:55:15 PM

Quote from: deloreswest on October 26, 2017, 04:01:12 AM

dont think so. but its posible. anyone could do coruption if they want but im the end they will get caught. even its not a new thing that many of bitcoin use to be terorist fund raising and money laundry.

I think that's the saddest part of of the usages of bitcoin were it can be use for illegal activities if the users has a bad intention for it. But as much as we can we should not abuse the usages of bitcoin.

I usually do not fancy it when bitcoin is being attributed to illegal activities as if would make it much more worst. Firstly, unless you want to do some mixing, bitcoin transaction can be traced so not necessarily anonymous. Also, illegal activities has been in existence even before bitcoin came into play. There are so many means they have always made payments in cash, assets and so on, so bitcoin is definitely not an exception and also not the cause.

Definitelt I agree with you mate, that's not an the reason because bitcoin now can be transparent and even if its anonymousity; tracing it still can be done. Illegal activities always will be done by offenders due to freedom which can be made with bitcoin, because everything with bitcoin has no barriers in terms of money. Same with fiat cash corruption is always possible and it depends on those govenment official or somebody who leaded an organization handling money over a project that involved a bigger amount of money.

ferdaus

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Since Bitcoin is an online-based coin Therefore, it is to be done through online transactions. Any person who transfers their coins online is available online, so if a person thinks of entering the meaning, especially in the situation, when the identity of the exchange will be caught in the trap.

mammoniter

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Quote from: speem28 on April 11, 2017, 01:02:34 PM

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

Yes, every resources or source of power can be tainted and corrupted if used negatively. I think bitcoin is not exempted for example if somehow in a certain government even if they don't legalize bitcoins and planned to convert a certain budget for a project to bitcoin and manage to hold it before releasing it for its real purpose they could have earn the interest amount in the span that they hold that coins with utmost anonymity and it would be hard for auditors to track where the money goes etc.

wizmo

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Quote from: speem28 on April 11, 2017, 01:02:34 PM

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

Everything has it's positive as well as negative sides. Bitcoins does used for illegal use but for corruption I had never seen it but it can be used as it can hide ones identity and it's secure as well. Government servants in my country prefers paper money than anything else. It all depends on government laws for bitcoin. Bitcoins will either lead corruption or reduce it. We will see what future brings..

drachman

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Quote from: btcprospecter on October 18, 2017, 07:28:12 AM

Bitcoin won't lead to corruption it would be a tool corrupt people would use gone are the days of a brown envelope under the table. Now bitcoin coin can be used and is unique in the way that it is untraceable.

Corruption it is going to change that is all, in the old days people paid bribes with gold coins then with fiat and it is possible they are going to pay bribes in the future with bitcoin, the currency changes but not the act in itself and that is because there are always going to be humans that are going to do everything for money.

Apened

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Quote from: kyanscadiel on October 31, 2017, 11:37:41 AM

Quote from: speem28 on April 11, 2017, 01:02:34 PM

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

yes, it can lead to corruption especially to people who is not contented with what they have and still want more. Corruption Is always been a problem even before and now that they can see the potential of virtual currency and what bitcoin can do, people will find a way to make use of it in illegal way like money laundering, drugs, terrorism.

What you've said is not a part of corruption because corruption is not making money laundering, drugs or terrorism. It is in the way that people act how he can make money without doing anything in short just like stealing money from people and with bitcoins corruption will going to decrease.

Monnt

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Quote from: Tigerheart3026 on October 29, 2017, 12:55:15 PM

Quote from: deloreswest on October 26, 2017, 04:01:12 AM

dont think so. but its posible. anyone could do coruption if they want but im the end they will get caught. even its not a new thing that many of bitcoin use to be terorist fund raising and money laundry.

I think that's the saddest part of of the usages of bitcoin were it can be use for illegal activities if the users has a bad intention for it. But as much as we can we should not abuse the usages of bitcoin.

I usually do not fancy it when bitcoin is being attributed to illegal activities as if would make it much more worst. Firstly, unless you want to do some mixing, bitcoin transaction can be traced so not necessarily anonymous. Also, illegal activities has been in existence even before bitcoin came into play. There are so many means they have always made payments in cash, assets and so on, so bitcoin is definitely not an exception and also not the cause.

kyanscadiel

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Quote from: speem28 on April 11, 2017, 01:02:34 PM

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

yes, it can lead to corruption especially to people who is not contented with what they have and still want more. Corruption Is always been a problem even before and now that they can see the potential of virtual currency and what bitcoin can do, people will find a way to make use of it in illegal way like money laundering, drugs, terrorism.

AicecreaME

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Quote from: Redanim on October 31, 2017, 10:51:58 AM

It is considered that it will be possible to get rid of corruption and theft only by changing society and institutions. However, it can be done much easier - with the help of computer technology, from which it will be impossible to hide. I believe that bitcoin in some part struggles with corruption.

For me, bitcoin will only lead to corruption if the government is on control of it but as long as it isn't then for me it won't lead into any kind of corrupting rather it could even help some people to earn some extra money. But yeah, theft is one thing the bitcoin holders should fear especially those who doesn't know how to protect their private key and passwords. Since bitcoin itself is hard to decrypt except for the computer where the priv key is on.

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