Can Bitcoin also lead to corruption ? - page 64.

imbahero

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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. Not now, but in the near future. I wouldn't mention Bitcoin only but other altcoin is also possible.

fianaindriati

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Bitcoin may cause corruption, if someone who has a greedy nature and wants to pursue the world's treasures alone.
So I think corruption can happen if the user is greedy.
If not greedy certainly there is no word corruption for bitcoin.

HasHe

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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?

Corruption has been in existence even before bitcoin has been introduced.Bitcoin has nothing to do with increase in corruption.Even if some people use bitcoins to give money to corrupted people,it could be easily traced since bitcoin is pseudo anonymous and all the transactions are registered in a public ledger.So instead,they may find it easy to use coins like monero or zcash for such purposes since they are pseudo anonymous.

Vohoanghiep

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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 not because every transaction has the appropriate fee and each account always has its own key only the owner of the account to know. Therefore, corruption can not occur when transactions are saved and reconciled with customers

User365

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physics, mathematics and engineering

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?

Well ... Yes.

It is also used by cybercriminal, normal criminals, organizde crime and why not corruption.
But fiat is used for this too.

I believe BTC can be a global currency and it is much better than fiat, but this has nothing to do with the criminals using it.

And just a thinkabout you can kill someone with an axe but you could also have chopped a tree with it (always depends on the people).

pitiflin

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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?

Bitcoin already has lead to corruption if you didn't know. Even though not a lot of people know or use bitcoin, there are people who do corrupt things and I don't think that everyone involved in corruption can be stopped from doing even more . It's just seems a good and easy way to earn money for them so why not go for it?

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?

You've said it yourself, "Because of money, corruption can always happen with greedy people who always wants more money to them." and bitcoins are money. Of course it can lead to corruption.

Gumpfire

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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?

In my own opinion bitcoin can lead to corruption if the government are the one's who owns bitcoin and control bitcoin. But as of now, i know there are no kind of events here that there such people who corrupts bitcoin and take it away. And that is good to see that there are no such people who are planning to corrupt bitcoin.

TheFriends

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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?

The fact that Bitcoin is a database and not anonymous, can help to fight corruption, because anyone can find out the transactions.

mornabo

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Quote from: pinkpanther03 on August 05, 2017, 02:46:51 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?

Since we always said here that bitcoin is an open sources to anyone, it is also open for legal and illegal purposes but this will be depend on the
individuals to their own reason of how to use it. but I am hoping and wishing that majority of the bitcoin users will not abuse the usge of bitcoin.

Lol I think you can not forbid users to do anything with bitcoins. This is the dream of many people, they get their privacy and secrecy to make transactions. And whatever their purpose of using bitcoin, it is not wrong.. because that is the goal of decentralization and anonymity of bitcoin, for freedom

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I think that bitcoin has been used for a long time in corruption because of its anonymity and because of this it got quite good popularity and very rapid price growth despite the war.

Bitcoincole

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Quote from: pinkpanther03 on August 05, 2017, 02:46:51 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?

Since we always said here that bitcoin is an open sources to anyone, it is also open for legal and illegal purposes but this will be depend on the
individuals to their own reason of how to use it. but I am hoping and wishing that majority of the bitcoin users will not abuse the usge of bitcoin.

I don't think bitcoiners can lead to corruptions thats how i wish cause every users have their different strategy of keeping their savings safe.

pinkpanther03

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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?

Since we always said here that bitcoin is an open sources to anyone, it is also open for legal and illegal purposes but this will be depend on the
individuals to their own reason of how to use it. but I am hoping and wishing that majority of the bitcoin users will not abuse the usge of bitcoin.

Finestream

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Quote from: Forbiddenone on August 02, 2017, 09:17:39 PM

There was corruption already,btc has just amplified it,due to its anonymous nature ,now majority of black money is transferred using cryptocurrency.

You cannot tell that because you don't see what people are doing and our transactions are anonymous and no one can determine it's nature aside from the transacting party. That was an old belief that majority of the dirty money are in bitcoin because now legitimate business and investors sees bitcoin as coins in the future and will make a big success.

rjbtc2017

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Yes it will, since bitcoin has it's corresponding price on fiat money it will cause greediness and will lead to corruption. Imagine if the government will regulate bitcoin, we will surely hear news of corruptions on the government regarding of stolen bitcoins and much more (well, if they can trace it since bitcoin is secured). But for me, surely it will, as long as Bitcoin's price is high and bitcoin is alive, corruption is there waiting for the perfect timing to be active.

Forbiddenone

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There was corruption already,btc has just amplified it,due to its anonymous nature ,now majority of black money is transferred using cryptocurrency.

orions.belt19

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There can be corruption in many forms, not just in money. It can be found anywhere. It is more prevalent when there is money involved.

Bitcoin may be used as a tool for corruption, just as with fiat money. Since Bitcoin is not regulated and is not traceable, it may be used for people to money launder. Money laundering is when you transfer or conceal money that is acquired from illegal means. This way, the government or other agencies may not find out that you have acquired the money through illegal activities.

It all boils down to the morals of a person, and it is up to us as to how you use Bitcoin or any other currency.

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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?

As long as there is money involved the possibility for corruption to happen is really possible. Being greedy to money is the main reason why corruption happens. But that matter of corruption cannot be blame on bitcoin because the users are the responsible on the proper usage or how they will behave on using it. Corruption has been present ever since before bitcoin has been established.

Fireblade

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Quote from: deppil on August 01, 2017, 06:17:45 PM

Quote from: Wong Gendheng on July 31, 2017, 11:12:38 AM

This is something that many countries fear, when they fight against corruption of course the existence of bitcoin can be exploited by corruptors to save their money.

Yeah maybe this is a common secret for everyone, how not you will not be seen while using bitcoin, and all users will not know who owns a bitcoin address, so it is reasonable that some governments in some countries prohibit the use of bitcoin in their country?

yes no doubt, it may be possible, because bitcoin is a normal currency like other fiat currency and therefore we cannot stop any person to use bitcoin. but we can hope that the number of such people may not be too much.

agustina2

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Quote from: bitllionaire on August 02, 2017, 02:15:58 PM

yes no doubt that it is common to every currency. to me i think that not only bitcoin but every currency is use for corruption, so may be some people are also using bitcoin for corruption.

As long as the thing has value (whether any kinds of currency and solid assets and commodities) , it's really obvious that it will be used on a fraud activity. All things that have value are prone to that kind of doings and we can't stop it.

Let's adjust for that rather than bitcoin or any currency will adjust for us.

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