Topic: Can Bitcoin also lead to corruption ? - page 55. (Read 51285 times)

Yes true that corruption is everywhere, and all nations in the entire world faced this circumstances, where most of them are belong to the government officials, and even in the private sectors of the company there is the same problems with corruption. So if the bitcoin users is corrupt now wonder that He can use bitcoin as tool to fulfill His/Her greediness. But if not, bitcoin will be abuse, it will only abuse by the greed bitcoin users.

Many countries are already facing severe corruption problems. I mean if someone avoids the traditional banking system in his money transfers then it comes in the circle of corruption. It is so vague and incomplete definition and the relating bitcoins with it is just amazing.

I mean bitcoin was made to get rid of banking systems involvement and if bitcoin was leading to corruption, then why did even they legalized it at first place. Nothing makes even a little bit of sense.

Even before the invention of bitcoins, people were doing corruption especially the politician and even still they are involved in this evil activity. We all know what wiki leaks and panama leaks were all about. So there is no need to blame for or associate bitcoins with corruption. They are just currency like fiat.

The anonymous feature of bitcoin don’t make it reliable for corruption. Yes you are right that you can’t be tracked back and you use bitcoin in corruption. I assume that is the mistake of the individual who is using to make corruption. We can’t eradicate corruption through any means until the people don’t remove it from their minds.

Corruption is happening because the person, bitcoin is just a tool for their excecution, so i think you're already answer it by yourself.

Anything that can be a payment is leading to a bad activity, not only corruption, there is money-laundering, fund terrorism, drug and manymore, so there is no safe place in this world if it's related with "money/assets"

Corruption is just really already a normal thing on this world on which its always been part already on our lives since there are really people who are greedy specially to those people who are on the position.Bitcoin wont really be a exclusion not to be used on corruption and I do bet that they already know about bitcoin and some of them might already been using it.

I dont think bitcoins can lead to corruption. Mainly because its a digital currency, something that isnt physically obtained by a person. Second, most of the world's population dont know much about bitcoin's existence and finally bitcoin's price range is unstable so i dont think anyone would ever use it to their advantage, rob us with what we deserve and get away with it.

the organization of greedy people wherever there remains corruption not lost from the circulation of the person is called worse than garbage not crowded if there o corruption

Anything that has price leads to corruption so it could happen to bitcoin as long as there are greedy people in any organization. Its not new so get used to it.

The corruption leads to human greed, not bitcoin or any other currency. Corruption has existed for a very long time and it is almost impossible to eradicate it until people control their greed.

Yes of course, this is because bitcoin is anonymous so anyone who keeps money into bitcoin will not be tracked. for that it's time there is a special rule about bitcoin.

Bitcoins are very safe to sue and corruption is associated with them just by haters who can’t see bitcoins knocking out their shitty coins. Bitcoins are helping to improve the economies of the countries and here some dumb people are trying to make people scare of digital world and bitcoins by associating corruption with them.

No, 1000x no as I see it today. It depends on how bitcoins work but now don't be afraid just go and work hard to achieve what you want to reach.

Corruption is still in dilemma for me.Because it is Yes and No for me.It can be use in both the ways one to rise the corruption and another one is to decrease the corruption.I will show you two Faces of Bitcoin how it is corrupted and how it can be use to save from corruption with example of my country's corruption Process.

1) How Bitcoin is leading to Corruption in Indian Country.

The bitcoin’s popularity in India has grown after demonetisation. At the time of its announcement in November, the price of one bitcoin in India was $757. It was lingering between $866 and $896 during the early days of demonetisation. It reached $1,020 18 days after Prime Minister Narendra Modi announced demonetisation on November 8, 2016. The bitcoin was valued at around $770 in the US the same day.On May 2017, the market price of bitcoin in India reached $2,096.68. There has been a clear surge in bitcoin transactions after demonetisation.This is as a result of GoI’s demonetisation initiative,there is a flood of such digital transactions in the country.

All the credit goes to Bitcoin ( HITECH HAWALA SYSTEM).Let me tell you what is Hawala.Hawala is a system of transferring money and property in a parallel arrangement avoiding the traditional banking system. It is a simple way of money laundering and is banned in India. But a new hi-tech form of hawala has appeared in the form of digital currency, and that is  Bitcoin.This way Bitcoin is Leading the corruption in Indian Country.


2) Let us see how Bitcoin can reduce Corruption to some extent With Amith Nirgunarthy Beliefs  .


Amith Nirgunarthy, an American living in India, has started an blog called iHaveBitcoins.
I follow his blog regularly. His blog gives us all the Bitcoin related information and also i search some kind of Trading Advices for mjyself if there is anything.He is very Kind and humble person.

He believes that bitcoin could be used to reduce wrongdoing within the Indian government, saying:“If every single government subsidy program was given to the bitcoin protocol, there would be no corruption anymore.”Nirgunarthy is referring to the amount of waste he believes exists within the government’s programs for doling out food, electricity and fuel to the people.

If a system of accountability like the blockchain’s public ledger, or electronically signed ‘smart contracts’, were used in the country, these problems could be vastly reduced.

I am not having this article link but yes i have written some notes on this as per the blog key points.I hope this points might get you some notes of how BITCOIN can be both Dangerous and Fruitful to us.It totally depends on us and our country's politicians,and how do they Use bitcoin.[/u]

i believe so, simply because of the price of bitcoin and the federal government will start to undertake bitcoin as centralized currency and it would be constitutional forex.most of the government formal are corrupt they constantly get benefit of their placement to do illegal factor and to make them richer with the income of other folks.

Just like what you said. In every organizations corruption is there. Corruption is everywhere. It is always depending on people. Well bitcoin is an organization where money involves. And people most likely are eager to gain profit from this organizations. There comes the tendencies that this people will tend to corruption. I know for sure that you know how money is equivalent to evil. But if people know how to manage money. I know they will use bitcoin for good.

    In my point of view, Yes Bitcoin can also lead to corruption not only in the government but there are people who will used it to there greedy things. There is a big possible to used it in that way because of it is not legal currency and many people can earn it and it also used in many things like transactions, investing, trading and so on.

Bitcoin can't lead to any corruption but it could diminish the corruption as every transaction is anonymous in the blockchain. But this feature could also give rise to anti-social activities. By using the Bitcoin anti-socials can make their payment freely without any legal restriction because no Govt. has the authority upon Bitcoin.

Yes it may happen, corruption is everywhere not only in the government officials. But for the corruption here is considered as scam.