Can Bitcoin also lead to corruption ? - page 62.

Japinat

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Quote from: Anfisman on August 13, 2017, 11:06:08 PM

According to Wikipedia, Corruption is a form of dishonest or unethical conduct by a person entrusted with a position of authority, often to acquire personal benefit. Corruption is very dangerous because can make vey bad impact, it can even make people become poor and the country gets worse. Unfortunately the current corruption can happen anywhere including through the current internet help, so there is a possibility it happens through cryptocurrency.

There is not need to explain further because we all know what is corruption and we also know that it can happen anytime using anything that has a value.
Bitcoin is a valuable asset and it can lead to corruption because people might use this and take advantage of it's being anonymous, so they can easily use this in illegal activities. It's not new to me anymore because I have been hearing news before that bitcoin was use for ransom or any related illegal but in the end we have to blame the violators not the tool.

Anfisman

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According to Wikipedia, Corruption is a form of dishonest or unethical conduct by a person entrusted with a position of authority, often to acquire personal benefit. Corruption is very dangerous because can make vey bad impact, it can even make people become poor and the country gets worse. Unfortunately the current corruption can happen anywhere including through the current internet help, so there is a possibility it happens through cryptocurrency.

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Quote from: ethereumhunter on August 13, 2017, 07:22:21 PM

Quote from: Cofee.BLUE on August 13, 2017, 07:14:17 PM

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 yes because many people are easy earning and gaining an income with just one click away through their gadgets that they use to operate bitcoin with the help of internet cinnection. With this people who excessively been using bitcoin can be greedy leading to corruption. But bitcoin must not be blamed abiut it because it was the result of their behaviour upon using bitcoin.

if the money is involve in one company/organization/government, then there are possibility for people to corruption because like above me said, someone become greedy when he see there is any opportunity to grow the money. he will be thinking how the amount could be increase. and with bitcoin, people can increase the amount of the money and take the profit when he decide to cash out all of the money. but its not bitcoin mistake, its depend on what people thinking about bitcoin. if we are always committed to make a good thing, then i am sure that in the end we are a good person.

The application of kyc in every trading market is the key that they have been accepted by the government in the country, I think in the end all bitcoin market trading will be forced to use the same system or its fate will end like btc-e, it will eliminate the anonymous nature of users bitcoin but will reduce the impact of money laundering, corruption is a disease that can not be eliminated by the world and can only be prevented.

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Quote from: Cofee.BLUE on August 13, 2017, 07:14:17 PM

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 yes because many people are easy earning and gaining an income with just one click away through their gadgets that they use to operate bitcoin with the help of internet cinnection. With this people who excessively been using bitcoin can be greedy leading to corruption. But bitcoin must not be blamed abiut it because it was the result of their behaviour upon using bitcoin.

if the money is involve in one company/organization/government, then there are possibility for people to corruption because like above me said, someone become greedy when he see there is any opportunity to grow the money. he will be thinking how the amount could be increase. and with bitcoin, people can increase the amount of the money and take the profit when he decide to cash out all of the money. but its not bitcoin mistake, its depend on what people thinking about bitcoin. if we are always committed to make a good thing, then i am sure that in the end we are a good person.

Cofee.BLUE

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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 yes because many people are easy earning and gaining an income with just one click away through their gadgets that they use to operate bitcoin with the help of internet cinnection. With this people who excessively been using bitcoin can be greedy leading to corruption. But bitcoin must not be blamed abiut it because it was the result of their behaviour upon using bitcoin.

Casmania

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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?

Whenever there's money involved, corruption is always there. People can always get tempted by money whenever, whatever type of currency as long as it has value or wherever it does exist and bitcoin can be used as a "storage" for corrupted money because aside from it keeps identity, it has its full potential to bee used sooner of later. It also can be used as another investment to circulate and make your money grow aside from keeping it in this currency.

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Quote from: buharikx31 on August 09, 2017, 04:43:53 PM

It can't lead the corruption countries which have already problem with corruption will use that payment system to make it easier but in countries where laws and police are working to make corruption less posible it would be really easy prove that corruption happend and it can take liability from people who made ilegal action

I think it's not necessary to be hypocritical not to admit that bitcoin really helps corruptors to launder money from corruption they do, how not bitcoins have an anonymous nature and they can hide their corrupt money in bitcoin safely, I think nobody knows this is happening or No, because of the anonymous nature of it

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Quote from: Palmerson on August 13, 2017, 04:27:53 AM

I have not heard more examples of corruption with the use of bitcoin. It will be difficult to do as most people don't know what it is and don't have the necessary amount of bitcoins. Besides, any action on the Internet are easier to track than Fiat.

How many cases of corruption with diamonds have you read in the news? Or with gold?
Bitcoin is used by far too many poeple to make it relevant on global scale but once it does you will see people getting their bribe in BTC , it's just a matter of time.

And in a world that tends to get rid of cash and replace every banknote with virtual fiat and bank transfers, BTC is actually the way to go.
You can track BTC in the blockchain (although with a good mixer used time after time it will become extremely hard) but there is nothing that can link a person to a wallet or to an address.
You can't hide your bank account as god as you can hide a password to an address full of coins.

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Quote from: buharikx31 on August 09, 2017, 04:43:53 PM

It can't lead the corruption countries which have already problem with corruption will use that payment system to make it easier but in countries where laws and police are working to make corruption less posible it would be really easy prove that corruption happend and it can take liability from people who made ilegal action

Yeah corruption already exists in many countries, and very happy when corruptors can be arrested and confiscated many of their treasures washed with houses, cars, etc. But when corruptors launder their money with bitcoin surely it will greatly help corruptors to hide their money?

Mr.Anonymous

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Quote from: Palmerson on August 13, 2017, 04:27:53 AM

I have not heard more examples of corruption with the use of bitcoin. It will be difficult to do as most people don't know what it is and don't have the necessary amount of bitcoins. Besides, any action on the Internet are easier to track than Fiat.

If they want exchange FIAT to BTC, I think BTC still is best place for corruption. Because very hard for track the source who send this money if they not use exchange website.

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Even before the days of bitcoin's existence corruption was there in the world. Based on the real fact corruption is a cause that's been serving as a major issue around the country during the growth. In reality bitcoin also a way used for corruption with ease, but it's not the one that make way to corruption.

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When I read this article

http://www.marketwatch.com/story/islamic-state-used-ebay-to-funnel-cash-into-us-fbi-says-2017-08-10

I thought about how when ISIS and other terror organizations discover Bitcoin there really is zero protection against money transfer into other countries. They could sell their stolen oil, transfer the money into Bitcoin in their country, send the private keys to their "friend" in another country who can then convert the money to fiat. Or am I missing something? In fact it makes their scum life a whole lot easier!

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I have not heard more examples of corruption with the use of bitcoin. It will be difficult to do as most people don't know what it is and don't have the necessary amount of bitcoins. Besides, any action on the Internet are easier to track than Fiat.

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Quote from: Sled on August 13, 2017, 04:11:58 AM

Quote from: JofryTheKing on August 13, 2017, 03:59:41 AM

Yes, I think bitcoin has long been used in corruption because of its anonymity and rapid growth. Unfortunately, corruption will exist with any currency until humankind eradicates its greed.

Yes, bitcoin can lead to corruption because of the anonymity because the corrupt people can use bitcoin as a payment gateway which they can transfer money whether it is a good or bad money easily because they can't be track down by the people who want to detect them and that is also why bitcoin anonymity is also a disadvantage sometimes.

If people can do corruption using fiat then how much more on bitcoin, I am pretty sure they are making it already and that is
good for the market as it will increase the demand of bitcoin. It's the government's responsibility to ensure they will stop this people
to do illegal activities as they have the power to regulate us and comply on their rules. Now, it's just individual's decision on how to spend his bitcoin.

Sled

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Quote from: JofryTheKing on August 13, 2017, 03:59:41 AM

Yes, I think bitcoin has long been used in corruption because of its anonymity and rapid growth. Unfortunately, corruption will exist with any currency until humankind eradicates its greed.

Yes, bitcoin can lead to corruption because of the anonymity because the corrupt people can use bitcoin as a payment gateway which they can transfer money whether it is a good or bad money easily because they can't be track down by the people who want to detect them and that is also why bitcoin anonymity is also a disadvantage sometimes.

JofryTheKing

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Yes, I think bitcoin has long been used in corruption because of its anonymity and rapid growth. Unfortunately, corruption will exist with any currency until humankind eradicates its greed.

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Quote from: malikusama on July 24, 2017, 11:27:39 PM

Yes it can, because all the transactions of bitcoin are anonymous and the corrupt people needs such type of platform to save their black money and to transfer them anywhere without taxes and without government consideration. Everything can be use either in positive of negative way, this is the negative use of bitcoin to do corruption.

Correct, But we do nothing about it because bitcoin is an open source to anyone. Only the bad things is there are bad people out there who are greed and once they found out this bitcoin, for sure they will take advantage of it to use it for evil things or illegal activities.

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Quote from: CryptoGeneral on July 31, 2017, 02:18:07 PM

Bitcoin is just money. Money is not the source of corruption, but greed and lack of moral standards is. Therefore BTC is not leading to corruption in the first place.

That's right! it is only in the mind of the users of how He/she gonna use whether it is for good or bad purposes. But of course, most bitcoin users are not abuser just for the sake to earn big profit even it is evil things. However, we must not abuse the usage of bitcoin.

ajmapalo22

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Yes it is possible that bitcoin can also lead to corruption specially now that the value is getting higher if government will have the control over bitcoin it is really possible for them to do bad things just to get bitcoins.

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Almost all countries are now fighting corruption, they want a clean government free from corruption, because corruption can harm small communities.
We must be together to eradicate the greedy corruptors who consume public money.
Because in my opinion, bitcoin can also be considered money and can lead to corruption.

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