Maybe a better question:
Can Bitcoin also lead to defeating corruption?
Isn't it more traceable than fiat? With Bitcoin you can't just write fake numbers in a paper ledger.
Topic: Can Bitcoin also lead to corruption ? - page 38. (Read 51285 times)
I guess not. Bitcoin doesn't belong to any institutes or agencies, so no one can authorize it. It has its own system which can avoid the risk of being corrupted.
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?
Maybe you are taking about greed? I dont see where to apply corruption here. Are you trying to say those who manage campaigns or those who've been entrusted with huge amount of coins to be distributed? I think they are accountable for all the accountings of every penny they distribute.
bit coin brings a lot of hope to the table but it didn't mean that they are giving way to corruption. The digital currency, which was launched with an aim to destabilize crony capitalism, certainly sounds revolutionary. And it has indeed shown how a money can survive only on public consensus, without needing government and central banks. It is now being used for plethora of purposes: to buy essay, goods, products online, as well as a mean to simplify cross border remittance.With every transaction going into a public directory, watchdogs can easily trail money to check on its conclusive spending. Private and public sector banks, as well as income tax authorities, could utilize blockchain to create private chains. so there is no way to corruption.
My answer is no we can’t say that bitcoin can lead to corruption because this is also a type of money people can use it for investment and their personal sale and purchase in these days. Bitcoin can’t lead to corruption it is the form of crypto currencies which is very valuable and important for profits.
Well, whatever is considered as money or means of getting money can lead to corruption, and even the Bible said that, if you’re a Christian. So, I won’t say that only Bitcoin leads to corruption, cause Dollar, Euros, Pounds– they can all lead to that thing we call corruption. Even natural resources like Gold, diamonds and silvers can lead to the same thing. They’re all the same.
The available limited data indicate a positive correlation between friendly to bitcoin normative environment and good governance. This may indicate that the potential for digital currencies and the basic technology of Blockchain may pose a threat to countries with a low level of corruption, which is typically inherent in the abuse of public power for private benefits.
Although blockchain is a safe technology that excludes corruption in finances, bitcoins can be used as a tool for corruption. Smart evils will find the way how to make more money out of crypto.
Sad but True. Eventually in My Country (Philippines) we are encountering rumors from our Television Reports that Bitcoin is Scam And Is use For Scamming my Fellow citizens, what Is Not Really Appreciated into my part is Because They Are Blinding people Who can also earn Money Through Internet. And The bad Thing is the Report Really affect the mindset of those people who have heard it.
They Just Want to earn bitcoin only by Themselves and this is the reality of my country, corruption is really a problem in Philippines. I know There are Politicians who uses Bitcoin for there bad negotiations.
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They Just Want to earn bitcoin only by Themselves and this is the reality of my country, corruption is really a problem in Philippines. I know There are Politicians who uses Bitcoin for there bad negotiations.
If This Post is Sensitive.
Kindly Delete OP.
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?
It depends on how a certain people use bitcoins. Bitcoins only serves as a medium for a potential corruption. We all know that those corrupt people would desperately hide their ill-gotten wealth on any means even if they bother or worst kill other people on their own interest. Corruption is not limited to the government or private organization but also those small established groups or an undistinguished person.
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?
This is true. Everything that is valuable like money for example can lead to corruption. For example, the tax on bitcoin. The government wants bitcoin to be taxed simply because it's value is high, and when the value is high the tax is high as well.
Corruption exist in our daily life. But as to the opinion of most of the people, bitcoin could possibly lessen the corruption because money (maybe in some sort of salary or payment) can contribute to individual without having the third party, which corruption happens. Bitcoin can be used in scam rather in corruption due to its value, the attraction is always there. Still it depends how people will use it, people nowadays are very smart regarding in that matter ( even if it for the good or for their own greedy self).
Corruption is an act which happens to be the tenancy of people who are too much greedy. Anything and I mean anything that has value attached to it could lead to the corruption. This mean dollars, gold, precious metals, foreign currencies etc etc are just means by which corruption is carried out. We need to understand the act of corruption is done first in order to amass the property. Bitcoin is again mere mean using which you could hide your illegal property effectively. So it is irresponsible to blame on the means of store to blame for cause of corruption.
Bitcoin has some properties which allows people or organization to move money more affectively using bitcoin that conventional tools or methods.
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?
There is a high possibility that bitcoin can lead to corruption, what attracts it to corruption is it's value is so high that many people want more of it. It is in nature to be greedy, that is why they like to have more.
Great possibility to be used in corruption, bitcoin can be transfer easily without any details, that is what the corrupt official realy want to do, to transfer funds without any trace where does it came from.
Although, Satoshi and the most of Bitcoin users do not want to using Bitcoin for this purpose, but by its function made the criminal interested it.
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.
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.
In addition to this, bitcoin is a savior. It has given freedom to common people. Nobody can snatch public’s money by heavy taxing.
In my opinion, everything that has a power to buy has a chance to be corrupt. But manly for me it depends to the user itself. Without proper education and humanity. Corruption can be applied to anything.
Power corrupts, bitcoin is power, so of cours bitcoin cand corrupt, especially if that person has some attraction for extra incomes.
Extra income can be also done in legal ways, we don't need to do illegal activities just to make money but since bitcoin is just a tool and we don't own a person's mind, he can do anything he want including using bitcoin for his personal interest that might be against the law. If fiat ca be use for corruption, I think that is also possible with bitcoin since it's easy to use and anyone who like fast transaction will be satisfied using it.
Corruption exist in our daily life. But as to the opinion of most of the people, bitcoin could possibly lessen the corruption because money (maybe in some sort of salary or payment) can contribute to individual without having the third party, which corruption happens. Bitcoin can be used in scam rather in corruption due to its value, the attraction is always there. Still it depends how people will use it, people nowadays are very smart regarding in that matter ( even if it for the good or for their own greedy self).
Power corrupts, bitcoin is power, so of cours bitcoin cand corrupt, especially if that person has some attraction for extra incomes.
Yes it is, many people are being greedy to use bitcoin but in the good way in others we do not know what is the really purpose of bitcoin to them government here is like loved to use bitcoin too where they say bitcoin can help our economics grow than other one less fee and easy to use for trading.
it can also lead to corruption. because in some developing country that not have some regulation and lack of knowledge itself about bitcoin. if the government found about bitcoin and how to use it. depends on the government itself, want to use bitcoin for developing its country. or want to use if to corrupt some of the country wealth. that's my opinion. #CMIIW 
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. Jump to: