Can Bitcoin also lead to corruption ? - page 45.

whyrqa

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Quote from: Ashong Salonga on October 12, 2017, 03:10:02 PM

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?

It depends. I think it is more likely to say that can bitcoin be a instrument of corruption of many people specially to those people who are in the part of government. However I think it is somehow yes because what if the bitcoin can be our currency many government will somehow make some bad moves because of greediness.

greed is a special trait of each person's character, it's just that some people hear it sleep or prohibit it very far. All people love money and especially when this money is needed not only for a smart life, but it lets the bases for normal living. Thus, the government of each country keeps its citizens in check by not giving good wages, but only to drag a miserable existence.

Ashong Salonga

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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?

It depends. I think it is more likely to say that can bitcoin be a instrument of corruption of many people specially to those people who are in the part of government. However I think it is somehow yes because what if the bitcoin can be our currency many government will somehow make some bad moves because of greediness.

dmamigo

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Quote from: pureclckr on October 12, 2017, 11:31:18 AM

Quote from: justspare on September 23, 2017, 03:57:50 AM

Quote from: Wexnident on September 12, 2017, 12:33:53 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, I believe that there's a possibility becauae still, it involves money. And as long as money is involved into something, corruption will always be present. I'm nit sure on how corruption works in Bitcoin since it is decentralized, maybe it is on ICO projects or campaigns which is related to Bitcoin something like that.

Yes you are absolutely right that possibility of corruption is everywhere but I am looking no way of corruption especially in case of bit coin as digital and crypto currency world and I think that corruption will be also a modern way of corruption.

There are different kinds of mindsets in this world so the corruption will depend upon the nature of an individual itself.

I also agree with you. The possibility is always there, because I think this is the very safe place to keep the corrupted money. No proof, no inquiry, no recovery and the money gone to the wallet of corrupt people. I think bitcoin will provide them the opportunity for more and more corruption. Now they cannot use or keep the black money in their bank accounts but bitcoin will give then the safe and easy way.

Actually corruption is and will be there forever, Bitcoin is just a medium that is or will be used by the corrupted peoples. But recently might be for this reason many countries are trying to regulate and also introducing KYC and AML to curb corruption. I believe there will be loophole or a way to still hide your money but atleast it will restrict or might even reduce it till some extent.

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Quote from: Fatanut on October 12, 2017, 02:00:26 PM

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 not, the only people that can be corrupt are the government officials and as you can see we don't have that in here. Bitcoin is decentralized and one guy is not above the other guy just because he has more bitcoins. I think the only problems that we might be having the future is that pioneer bitcoin users have so much bitcoins and the price of bitcoin is already in millions. The newcomers can't do anything about that and all they can do is to buy bitcoin at a really high price. Bitcoin will be really scarce since some people are holding the major part of it, and those same people will have power. They will have the power to manipulate the market. Plus, since they have so much bitcoins (money) then they are already powerful. Remember that rich people are also powerful people because of their money.

I don't think bitcoin can lead to corruption but it can lead to unbalanced distribution of power because of money. Oh well, that's what we currently have in fiat money anyways so nothing is really new with that.

god thanks you are the first i think that understood crypto here Cheesy

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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?

I think not, the only people that can be corrupt are the government officials and as you can see we don't have that in here. Bitcoin is decentralized and one guy is not above the other guy just because he has more bitcoins. I think the only problems that we might be having the future is that pioneer bitcoin users have so much bitcoins and the price of bitcoin is already in millions. The newcomers can't do anything about that and all they can do is to buy bitcoin at a really high price. Bitcoin will be really scarce since some people are holding the major part of it, and those same people will have power. They will have the power to manipulate the market. Plus, since they have so much bitcoins (money) then they are already powerful. Remember that rich people are also powerful people because of their money.

I don't think bitcoin can lead to corruption but it can lead to unbalanced distribution of power because of money. Oh well, that's what we currently have in fiat money anyways so nothing is really new with that.

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Quote from: slavla3 on October 12, 2017, 12:31:53 PM

No subject how considerably corruption invests, if the government starts to consider action by freezing bitcoin exchanger in that place and daunting transaction accessibility to the suspect's lender account. I consider it's a fairly critical complex issue. We can see from what the China authorities did in the past.

they forbid bitcoin as a sign of not being able to make the rule even though it is actually enforced. Clotting steps are the result of their inability to crypto business that continues to move massively. A setback in civilization is that if the state is not able to stem the mass of business, bitcoin is very free and makes people corrupt whenever and KYC is just a weak formality.

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No subject how considerably corruption invests, if the government starts to consider action by freezing bitcoin exchanger in that place and daunting transaction accessibility to the suspect's lender account. I consider it's a fairly critical complex issue. We can see from what the China authorities did in the past.

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Quote from: justspare on September 23, 2017, 03:57:50 AM

Quote from: Wexnident on September 12, 2017, 12:33:53 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, I believe that there's a possibility becauae still, it involves money. And as long as money is involved into something, corruption will always be present. I'm nit sure on how corruption works in Bitcoin since it is decentralized, maybe it is on ICO projects or campaigns which is related to Bitcoin something like that.

Yes you are absolutely right that possibility of corruption is everywhere but I am looking no way of corruption especially in case of bit coin as digital and crypto currency world and I think that corruption will be also a modern way of corruption.

There are different kinds of mindsets in this world so the corruption will depend upon the nature of an individual itself.

I also agree with you. The possibility is always there, because I think this is the very safe place to keep the corrupted money. No proof, no inquiry, no recovery and the money gone to the wallet of corrupt people. I think bitcoin will provide them the opportunity for more and more corruption. Now they cannot use or keep the black money in their bank accounts but bitcoin will give then the safe and easy way.

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Quote from: Nascor on October 12, 2017, 08:09:05 AM

Bitcoin is already being used to launder money, maybe not to the extent that the media are suggesting, but it's definitely playing it's part on the dark web market. It's an inevitable effect of a digital currency that is widely available and popular as Bitcoin. Even if transactions can be detected, there are already a number of services that "hide" these tracks by using so called "mixers" where essentially, you send your BTC and receive someone's elses BTC, that natural is attractive to crinimals and leads to corruption

That is the dark side of the bitcoin and we can't do much about it but to just let it be. Everything has its own dark side and it is up to you if you will choose to stick with that dark side and make it as a basis in judging something that is not totally that much. Even bitcoin has its own dark side from being hard to trace down then you can still have a positive with it like the blockchain technology that will help you to create better ideas.

Nascor

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Bitcoin is already being used to launder money, maybe not to the extent that the media are suggesting, but it's definitely playing it's part on the dark web market. It's an inevitable effect of a digital currency that is widely available and popular as Bitcoin. Even if transactions can be detected, there are already a number of services that "hide" these tracks by using so called "mixers" where essentially, you send your BTC and receive someone's elses BTC, that natural is attractive to crinimals and leads to corruption

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Quote from: Senja Kemuning on October 12, 2017, 06:28:54 AM

This becomes a serious problem because anonymous bitcoins will make everyone think of putting money into bitcoin so nobody can keep track so money is safer.

Tell me what is the diffrence between your Point and the fact that people put already money in
tax paradises since the 60s... Just check Cayman Islands, Swiss Bank or Luxemburg... So iam not with you in this matter...

Quote from: Techmekka on October 12, 2017, 06:34:02 AM

Yes i think it can because the bitcoin value is really high and a lot of hackers are active in bitcoin. So you can like easily get scammed or get hacked and if the get a hold of your online wallet information you will lose everything.

Yes, you can if you do not research on the Internet or Invest in Stuff without any/much expirience.
You can also get Scammed Investing/Spending $/€ into business Online like Revenue Share Sites like
Trafficmonsoon was and lose tons of Funds and nobody can anything on it!
Or your Processor like Paypal or Payza or whatever gets Hacked and the Hacker purchase
Items with your Money or better just cash it out on Bitcoin or other Fake Accounts.
Same for you sir, iam not a even a lil bit on your Side...

Techmekka

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Yes i think it can because the bitcoin value is really high and a lot of hackers are active in bitcoin. So you can like easily get scammed or get hacked and if the get a hold of your online wallet information you will lose everything.

Senja Kemuning

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This becomes a serious problem because anonymous bitcoins will make everyone think of putting money into bitcoin so nobody can keep track so money is safer.

muhammad-adnanzain

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Yes it can, because of value of bitcoin and when using transaction using bitcoin no one can see to whon bitcoin was send i mean a personal id no need for transaction, so governments or mybe police can not prove who was receive the bitcoin. This hole can use for bribery without prove no one can not be arrest.

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Quote from: ronafurw on October 12, 2017, 01:35:32 AM

Quote from: Sweetbtc on September 23, 2017, 03:54:40 AM

You can't say it use for corruption, bitcoins are use for some negative activities like money laundering or drugs. Its all happening on internet and we can't blame internet for it. The identity of the person involve in corruption (using bitcoins ) cant be traced but bitcoin transactions are anonymous.There's some disadvantage of bitcoins.

Yes you are right. Corrupt people can do anything with bitcoin and the most easy corruption is money laundering. They will make money due to corruption and then will invest in bitcoin. Whi knows how many bitcoin someone hold and not the controllers will ever ask where the money comes from. They will easily put their money in blockchain wallet which will give ythem extra earnings in the future.

I agree, It's possible that bitcoin can also lead to corruption, just like the other regular currencies if ever the government decided to recognize and used it also. Even if the use of bitcoin is anonymous, it is not impossible for those greedy people to make it happen. I also believe that their greediness will pushed them to find a way.

valisa

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corruption can be done by anyone and anyone, so bitcoin can make money from corruption, it can happen because of the dishonest human nature that corrupts in any way.

ronafurw

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Quote from: Sweetbtc on September 23, 2017, 03:54:40 AM

You can't say it use for corruption, bitcoins are use for some negative activities like money laundering or drugs. Its all happening on internet and we can't blame internet for it. The identity of the person involve in corruption (using bitcoins ) cant be traced but bitcoin transactions are anonymous.There's some disadvantage of bitcoins.

Yes you are right. Corrupt people can do anything with bitcoin and the most easy corruption is money laundering. They will make money due to corruption and then will invest in bitcoin. Whi knows how many bitcoin someone hold and not the controllers will ever ask where the money comes from. They will easily put their money in blockchain wallet which will give ythem extra earnings in the future.

bitcoworld

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It can lead to everything what people will lead him in and that is also
good so. I mean Bitcoin is something what is free and something what
dont lets track governments what you are doing.
Bitcoin is a decentralized currency so yes it can lead to everything
what have value to buy it and also corruption Cheesy

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Quote from: Hishand on October 10, 2017, 01:01:12 AM

Corruption is a psychological sickness, hard to remedy. In fact bitcoin may be utilized for corruption or income launderers. In simple fact several issues can be a place for corruption, not just bitcoins, gold, stocks, home can be a device for corruption

Bitcoin cannot change the nature of a person, If he has that bad intent to feed his personal interest he will do corrupt things.
What we can benefit with bitcoin is it's transparency and a faster tool for transaction and only the government can decide if they will use it to ensure there is transparency for every transaction, however if they are corrupt it will make bitcoin useless to solve the problem.

Hishand

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Corruption is a psychological sickness, hard to remedy. In fact bitcoin may be utilized for corruption or income launderers. In simple fact several issues can be a place for corruption, not just bitcoins, gold, stocks, home can be a device for corruption

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