Can Bitcoin also lead to corruption ? - page 42.

Sled

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Bitcoin- in bullish time

Quote from: Yarsk on October 17, 2017, 10:40:41 PM

Bitcoin if not checked and accepted and it activities managed by government is going to be one of the world biggest channel for corruption, one as at now there is no limits to how much can be save in a wallet and that can lead to excess saving of bitcoin in wallet by corrupt government officials uncheckable to any one else but them alone.
And also corrupt persons can now use bitcoin to carry out they transactions unnoticeable to any one else.

Even without noticing it, the bitcoin is already being used as a way for corruption because they are making transactions in bitcoin to transfer or receive illegal money because the bitcoin has a feature that is more on security that the bitcoin address cannot be track down by any type of person because of the algorithm that bitcoin has.

Yarsk

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Bitcoin if not checked and accepted and it activities managed by government is going to be one of the world biggest channel for corruption, one as at now there is no limits to how much can be save in a wallet and that can lead to excess saving of bitcoin in wallet by corrupt government officials uncheckable to any one else but them alone.
And also corrupt persons can now use bitcoin to carry out they transactions unnoticeable to any one else.

cydrix

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Quote from: speem28 on April 11, 2017, 12:02:34 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 that situation Bitcoin has a good massive huge advantage for criminals , corrupt government officials Etc. anonymity is one of the most good features about bitcoin untraceable transactions. It is the ideals for criminals,bounty hunters,hackers,hit-man, and drug deals other than anonymity is bitcoin can handle money more you can imagine its for safety measures to a criminals,bounty hunters,hackers,hit-man, and drug deals so it can be branded illegal to a country if found out this kind of risk to their states

Andrianla

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Corruption can occur in Bitcoin, all dependent on users who use bitcoin as a business transaction. Corruption can happen in many ways, but every transaction wallet can be monitored

Vastraint

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Quote from: Baehr123456789 on September 30, 2017, 01:45:13 PM

While the future of cryptocurrencies is uncertain, the accusations levied at them by banking executives may say more about the execs than the crypto — do these higher ups truly believe what they are saying or are they members of an unscrupulous industry that’s desperately afraid their era of (relatively) free reign over the economy is coming to an end? As we consider the future of Bitcoin and other cryptocurrencies, the important thing to keep in mind is that while these systems could eventually become corrupt, many of the big banks critical of them already are.

Good line here. They are throwing garbage at crypto and they are a afraid that their present system will be demolished and by replaced by the blockchain technology. Under the table transactions are being done by them and they are closing it to the public while enjoying their luxurious life. They just cant deny that the blockchain have a hundred years advance than their system and of course it can be used by illegal transactions because every system can be used the question is that how will the organization will use it. At the meantime they are grinning their teeth because the club that they are living will slowly crumbling apart without even seeing it coming.

thet

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elysian.finance

Quote from: speem28 on April 11, 2017, 12:02:34 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?

Any form of currency or even any kind of thing that has its value for some government officials can be used and may lead to corruption. Bitcoin can be used as their way to conduct a transaction that cannot be controlled or even monitored by someone else because there are no certain documents that may lead for some verification if ever.

roddy5

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Quote from: pathapoddo on October 16, 2017, 09:34:13 PM

Yes bitcoin is also lead corruption. In this universe, there is two side in everything ;good side & bad side.Bitcoin is blessing for us who do good thing & other it is blessing for us if anyone do bad thing with this.We have change to our mind. We have to see the good thing not bad thing.

This is correct, since it is somehow anonymous it is a good way to launder money. also it may be used in illegal activities.

trickyriky

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Curruption is everywhere, cryptocurrency is a new sphere for its development.

BTC is alternative decentralized currency.
So, it can be considered as an alternative method of bribing with minimal risks.

Bit Log

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Quote from: speem28 on April 11, 2017, 12:02:34 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 don't think it can lead someone to be corrupt, bitcoin is a clean money that cannot be use to lie to people and scam them. It is only between you and the internet and the internet cannot and will not scam you, only if you have a transaction with other people. So I think that bitcoin will be clean from corruption.

burnchan

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Quote from: speem28 on April 11, 2017, 12:02:34 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?

Agree on this mate. When there is money involve , the lust for money and power is involve, then there will always be a corruption. These happens when people became weak. They are capable of doing bad things even if we conciously know that it is Bad. We know that corruption is a bad thing, but many people are into it because it becomes a norm. That may end up accepted by the society. If a person doesn't stand for what is right then there is a greater chance that he/she will adopt the corrupt system.

Himanshu111

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Quote from: speem28 on October 17, 2017, 03:32:36 AM

Quote from: 1kings on October 17, 2017, 03:26:50 AM

Corruption is inherent in humans and it is not limited to political space. Everything we touch gets corrupted. Name it. We corrupted nature, the natural order of things. Even in the inorganic, we introduced malwares into systems.

Back to the point, BTC cannot stop corruption. It can only become a tool in the hands and minds of corrupt individuals and organisations.

Good point! It's just the way of the world. There are people who are born to do those shameless things, people who will do anything just to take the better of other people like scamming, hacking and etc. For sure, there are lots of people who are taking advantage of bitcoin's feature for their own sakes not thinking that they are harming other people with whatever they are doing.

The fact that bitcoin can lead to corruption cannot be denied.It is obvious that criminals or corrupts will not carry so much amount of money or cash.Instead they need something which is easier to operate and without the fear of being caught,they can get all of their payments.For this bitcoin is the best.Payment through cryptocurrencies cannot be traced and no one has any account of it expect the receiver and donor.This is because cryptocurrencies are not governed by any central bank or any institution,so any transaction in black can be done.

wilwxk

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Of course, why the corrupts will take bags of paper money or gold with someone if they can only make a transaction of millions with their smartphones ? But this is a natural proccess, if you want a currency without corruption this will need a control of soe institute, and this is worse than a paper money. But in the future they can prefer cryptos more anonymous like the monero abd zcash too.

btcjocan

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Quote from: speem28 on October 17, 2017, 03:32:36 AM

Quote from: 1kings on October 17, 2017, 03:26:50 AM

Corruption is inherent in humans and it is not limited to political space. Everything we touch gets corrupted. Name it. We corrupted nature, the natural order of things. Even in the inorganic, we introduced malwares into systems.

Back to the point, BTC cannot stop corruption. It can only become a tool in the hands and minds of corrupt individuals and organisations.

Good point! It's just the way of the world. There are people who are born to do those shameless things, people who will do anything just to take the better of other people like scamming, hacking and etc. For sure, there are lots of people who are taking advantage of bitcoin's feature for their own sakes not thinking that they are harming other people with whatever they are doing.

It could be! Because nowadays a lot of scammers are trying to deceive people that they will give the amount of bitcoin in just few minutes and ask you to give your wallet address and after that you will be told to send an amount of bitcoin to the wallet address that they send you so you can receive the bitcoin they sent to your wallet address. But unfortunately it's a big scam. So they are already taking advantage with the use of bitcoin in some countries.

Hotel_Prodeo

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I think not, without bitcoin corruption is massive, and of course corruptors think about the future of bitcoin, they prefer foreign banks to save money rather than bitcoin because they know there is a risk of bitcoin drop.

advjump

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Bitcoin can't lead to corruption because bitcoin is decentralized and it can't be controlled by anyone, the bitcoin is known for being decentralized and if bitcoin lead to corruption then it means that it already broke its features and it will be a huge effect for the price and it will go down.

Nivir

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Just 1 week or two ago a high ranking government official in my country is accused of corruption. His group mentioned they never did anything illegal and his money mostly came from bitcoin. I wonder if he was really a big investor in crypto or he was able to hide some of his ill gotten wealth in crypto.

speem28

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Quote from: 1kings on October 17, 2017, 03:26:50 AM

Corruption is inherent in humans and it is not limited to political space. Everything we touch gets corrupted. Name it. We corrupted nature, the natural order of things. Even in the inorganic, we introduced malwares into systems.

Back to the point, BTC cannot stop corruption. It can only become a tool in the hands and minds of corrupt individuals and organisations.

Good point! It's just the way of the world. There are people who are born to do those shameless things, people who will do anything just to take the better of other people like scamming, hacking and etc. For sure, there are lots of people who are taking advantage of bitcoin's feature for their own sakes not thinking that they are harming other people with whatever they are doing.

1kings

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Corruption is inherent in humans and it is not limited to political space. Everything we touch gets corrupted. Name it. We corrupted nature, the natural order of things. Even in the inorganic, we introduced malwares into systems.

Back to the point, BTC cannot stop corruption. It can only become a tool in the hands and minds of corrupt individuals and organisations.

miltonpogi

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We all know that we will never replaced corruption, because there is corruption everywhere, there are many person who was too greedy on having bunch of money on their hand. Many people temp to grab more of this to buy all their wants and use it for pleasure because money is now there worth, just like what happening in the government. In short bitcoin is a money and you will never replaced corruption when topic is all about money.

ghost424

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Bitcoin is one of the currency in the internet. In the real world, corruption happens when there is abuse in power. Corruption is when we keep abusing what doesn't need to be abused. In some countries they say politicians are corrupt due to the hording of money and that is bad. If we abuse bitcoin, i guess it will lead to corruption. Abusing bitcoin is really bad because bitcoin has good effects on unemployed persons. Bitcoin is really helpful to those who are in need. We need to teach them on how to use bitcoin in a good way without abusing it.

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