Can Bitcoin also lead to corruption ? - page 48.

Bitcoincole

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Quote from: Flodemaga on October 04, 2017, 07:53:44 PM

It wont take too much to we see some politician start using bitcoin and crypto currencies to hide the money they get ilegal, it does scares me if they really will use crypto for those purpose because instead spread away the beneficts they will use it to damage even more crypto world, that most people consider as dark marketplaces.

Bitcoin can't lead to corruption because it is decentralized and even the government itself can not control so don't think for the bitcoin to be controlled by any person. So it is clearly see the evidence that bitcoin can not lead to corruption.

Flodemaga

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It wont take too much to we see some politician start using bitcoin and crypto currencies to hide the money they get ilegal, it does scares me if they really will use crypto for those purpose because instead spread away the beneficts they will use it to damage even more crypto world, that most people consider as dark marketplaces.

Colt22

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Quote from: 949miner on October 01, 2017, 01:37:47 AM

Well, corruption is nothing new, and people who do it are always trying to look more ways to make their plans, anyway, bitcoin is money, so they can use it too, but i dont think that it makes more corruption in this world. So it depends on how they are going to use it, but obviously this is a bad thing and it needs to be stopped. But with bitcoin it is more easy to send money, so probaby yes.

There is no such case which is reported in the past through which we can conclude this thing that Bitcoin will lead to corruption. Anyhow, Bitcoin can lead to corruption in fact this will be our fault, the fault of the ones who are or will be using it in the future. We need to stop Bitcoin for being used for illegal activities or even in corruption.

doomloop

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Quote from: Transformbitz on October 03, 2017, 01:06:23 AM

I think no. first of all bitcoin is Peoples money while fiat money is control by banks/governments so it wont lead bitcoin to corruption. we control our bitcoin but we can't control our fiat money because their are codes on it.

Yea you are right it is not the bitcoin that lead to the corruption but the greed of the people who use bitcoin for this purpose, bitcoin is famous and the use of the bitcoin is now very common now. I think the main cause of the corruption is the greed of the people the bitcoin is very profitable and they are easily making and sending money through it now.

Fazlurkhan.kz

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As the transactions in Bitcoin is anonymous. It really can lead to corruption. There really should be a way in which one can track the transactions only if necessary! Sad

Sylenth

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everything on market that exist has been touched by hands of corruption on some level, user being anonymous can use this money to buy drugs ,illegal ammo or what not .but every currency is prone to same ,even gold can be used for corruption. corruption is anywhere where there is money ,people want all the money in world and some of them can cross limits to get so. bitcoin emerged from darkweb and now its getting mainstream but as you mentioned there are politicians who can benefit from it even when its fully implemented as the currency of nation .

Tukang Becak

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Quote from: pinoyden on October 04, 2017, 04:18:54 AM

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 think no because bitcoin is not hold or controlled by a government or any other people or organizations. corruption happens mostly on the governments because they are greedy enough and they wanted to have more money as possible because they want to be powerful so that they can rule their own country and controll the people.

Indeed the government can not control bitcoin but that does not mean bitcoin free from alleged embezzlement, when bitcoin increasingly popular then many corruptors who transfer money to bitcoin so that can not be tracked by anyone.

pinoyden

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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 think no because bitcoin is not hold or controlled by a government or any other people or organizations. corruption happens mostly on the governments because they are greedy enough and they wanted to have more money as possible because they want to be powerful so that they can rule their own country and controll the people.

giarised

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Quote from: Jake052478 on September 30, 2017, 09:05:34 AM

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?

Anything that people can save and spend, corruption will always be there. The manipulation in the market by big investors of bitcoin is a form of corruptions, isn't it. So, whether it be physical money or digital currency, there is no difference really. As long as it can be save or spend... corruption will lurk its way to the system.

Undoubtedly, corruption is not related to money or system it is basically related to the ones who are using the system. Same is the case with bitcoin; we all know that there are always chances of imperfection in every creation made by man so bitcoin are no exception. Besides people are so evil minded; now a day that they are all the time looking for ways of misusing bitcoin.

Finestream

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Quote from: Wicked17 on October 04, 2017, 03:13:20 AM

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 its possible for a greedy people. If they get a fiat money in a corruption they can easily convert their money into bitcoin money. And since bitcoins is designed for being anonymous in every transaction they can easily hide their wealth without being detect by their anomaly.

They will be questioned by the authority as the government has the power to hold our bank accounts and even give notice to trading sites about our illegal activities. The main reason why the government does not like bitcoin is because it's a total opposite of their system in place, they want us to trust them with their centralized system but I think we should be smarter now, we should take this opportunity to get full freedom.

Wicked17

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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 its possible for a greedy people. If they get a fiat money in a corruption they can easily convert their money into bitcoin money. And since bitcoins is designed for being anonymous in every transaction they can easily hide their wealth without being detect by their anomaly.

umbara ardian

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can be bitcoin is currently prone to money laundering. those who are not easily tracked using bitcoins need to be acknowledged that bitcoin is very vulnerable to it because the transaction system on bitcoin or travel data is not traceable except the person itself. and having heard bitcoin is one of the most reliable tools for money laundering

millgates

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Quote from: vafro on October 04, 2017, 12:27:48 AM

Of program it can direct to corruption as its an decentralized currency and no one can have control on it so no one would know who is transacting and in that situation it can be utilized for corrupted activities.

Sorry but I disagree with you. Actually, all transactions of bitcoin are recorded, so if in the first time we know who was own the wallet that there is country's fund in it, the public and law enforcement can know's where the money move. The bitcoin transactions are transparent, so it will prevent people to do criminal activity. The Silk Road used bitcoin for their transaction, but now it was shutdown, it show's that just because you use bitcoin doesn't mean you can evade law enforcement. I think bitcoin is not lead to corruption.

josh07

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if they support bitcoin yes it is possible to get the coraption here in the philippines but it is too late because government officials may even know about bitcoin so they have to tax it and what else do I believe bitcoin can solve coraptoin in the philippines ...

Japinat

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Quote from: darkangelosme on October 04, 2017, 12:00:08 AM

For me it is yes, because transaction through bitcoin or in any cryptocurrency is very easy, so any greedy and corrupt people can easily use bitcoin for their bad intention they can use bitcoin as a strorage to the money they steal or they have corrupt, it is hard to accept but that is the truth, but even without bitcoin there are still a corruption in many forms, so we can not put the blame to bitcoin just because some people using it in their bad ideology Cry

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Exactly, we cannot stop this innovation just because it is use by corrupt people, there are more illegal transactions with fiat than bitcoin and with bitcoin transactions are traceable so it's more transparent. The government are corrupt, they can manipulate the people and they like us to trust them but that is not necessary anymore as we have bitcoin and the blockchain where anyone can view transactions history and that is for transparency.

vafro

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Of program it can direct to corruption as its an decentralized currency and no one can have control on it so no one would know who is transacting and in that situation it can be utilized for corrupted activities.

darkangelosme

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For me it is yes, because transaction through bitcoin or in any cryptocurrency is very easy, so any greedy and corrupt people can easily use bitcoin for their bad intention they can use bitcoin as a strorage to the money they steal or they have corrupt, it is hard to accept but that is the truth, but even without bitcoin there are still a corruption in many forms, so we can not put the blame to bitcoin just because some people using it in their bad ideology Cry

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Tungsten-1

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Quote from: Transformbitz on October 03, 2017, 01:06:23 AM

I think no. first of all bitcoin is Peoples money while fiat money is control by banks/governments so it wont lead bitcoin to corruption. we control our bitcoin but we can't control our fiat money because their are codes on it.

How can you say no? I think you are unaware of dark web and deep web and much other hidden things like them. There are ransoms, there are corruptions in banks, there are target killings and there is much more that comes under umbrella of moral or financial corruption. But that is the flip side of coin. It basically all depends on you how you deal it.

knightmairesaint

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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 has a greater chance of leading to corruption compared to currencies out there because it has no regulations. Liberty is too much. Greedy people will take advantage of these situation to gain too much of they must have. Another thing is bitcoin is high valued, much easier to get rich in such few amount. That will take attention of those who might want to gain wealth easily with whatever it takes doesn't matter even they aggreviate and act illegally.

Pinkris128

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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 is if people wont used it properly. And just like what you said being greedy is the main reason of corruption. They forget the other aspect and just focus on theirselves or their own sake. But if we know how to used it well and will do it then Im sure that corruption wont happen. The only reason why people become greed to money is because of poverty and just want to have a better life. But im hoping that it wont happen because bitcoin was really helpful to all of us so I hope it will be used correctly.

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