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?
Topic: Can Bitcoin also lead to corruption ? - page 65. (Read 51285 times)
Of course! BTC is the best money laundering currency now as people are exploiting it perfectly. There is nothing you can do about it, nor does it matter as crypto was meant to be decentralized and non-regulated.
Since I joined here in BTC so many fucking company scamming people money and i don't know how to get a financially freedom if some of does company still create a company and offers some Investment that you will earn low profit and they get you scam. So the way i see BTC know is a Lead to way in corruption many innocence people lost money and many more to come now
As bitcoin functions without the intersection of external parties, it becomes easy for people to make use on illegal activities such as corruption and other related factors. This has now decreased a lot as people give importance as an trusted investment. Now too a small amount of people prefer bitcoin for such activities and one such recently happened with the ransom-ware attack.
well I would like to say that everything can be use for corruption it all depends on the user so that if you have bitcoin in your hands you can do anything with your bitcoin you can pay to the weapon seller to the drugs dealer so I think you can do with it whatever you want to do with your bitcoins but we cannot blame bitcoin for the corruption it is just the cause of the provider and the taker. 
Of course, bitcoin can lead to corruption like any other currency with which you can make purchases. At the same time, in terms of anonymity, bitcoin has the advantage.
Yes of course, anonymous becomes a haven for corruptors to hide their money so that no one can trace them. This is what many countries say so they do not accept bitcoin.
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 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.
Yeah bitcoin has anonymous and decentralized facilities and that's what criminals or criminals use to do illegal activities. The corrupt just need to wash their money into bitcoin and then they can convert it again to fiat without being seen. That's bitcoin expertise
There are ways to track it though but with the use of mixing services it sure does help criminal activity a lot.
I have yet to hear of bitcoin being used in corrupt cases though, but I guess it's only a matter of time now.
Ain't it being corrupted now. Look at what was happening with it.
Many want to take over so that they could have control with bitcoin.
If not, they want at least a part of it so that they would profit for themselves.
With this large scale of income and the price so high. Crocodiles are getting in or just waiting for their preys.
Many want to take over so that they could have control with bitcoin.
If not, they want at least a part of it so that they would profit for themselves.
With this large scale of income and the price so high. Crocodiles are getting in or just waiting for their preys.
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.
Yeah bitcoin has anonymous and decentralized facilities and that's what criminals or criminals use to do illegal activities. The corrupt just need to wash their money into bitcoin and then they can convert it again to fiat without being seen. That's bitcoin expertise
There are ways to track it though but with the use of mixing services it sure does help criminal activity a lot.
I have yet to hear of bitcoin being used in corrupt cases though, but I guess it's only a matter of time now.
If according to ane it could be bitcoin it causes corruption.
Because bitcoin also includes money that can be used for economic needs.
So because money also everyone can do what he wants.
Because bitcoin also includes money that can be used for economic needs.
So because money also everyone can do what he wants.
To add up a scenario on what has been discussed here, I believe that corruption like bribery can be possible with bitcoin since the transaction is always anonymous. All transaction can be hidden because of anonymous transactions that usually be accompanied through designated bitcoin address, which kept private from anyone. Only that the network has the tracking to which designated wallet address bitcoin was doing the transactions online.That's how digital encrypted currency works with our lives and the freedom we had can be abused by authorities or any influencial person.
If according to ane it could be bitcoin it causes corruption.
Because bitcoin also includes money that can be used for economic needs.
So because money also everyone can do what he wants.
Because bitcoin also includes money that can be used for economic needs.
So because money also everyone can do what he wants.
I believe that bitcoin may also lead to corruption because bitcoin can be transfer easily from one person to another person's account without knowing the person's identity.
Definitely. Bitcoin can really be used on corruption because of its anonymity features on which really can be used on corruptions,crimes and other stuffs.This is the sad reality but we cant really do anything about it since it do have the properties that criminal minds would really see it as an advantage. We would like to use on bitcoin on a good way but we cant stop those bad people out there specially on government officials
Corruption is something that you can't escape when it comes to currency. Offcourse Bitcoin can be very well used in corruption due to its added advantage of anonymity in terms of person's identity and so does the case with cash. Unless there is some big incident of corruption, nobody is going to investigate anything.
Corruption is more dependent upon person's mentality than the form of currency being used.
Corruption is more dependent upon person's mentality than the form of currency being used.
Bitcoin can be used by different criminals just like corrupt officials. Maybe some of them are already practicing it since bitcoins existence. The government can't hardly identify them if they don't conduct thorough investigation and background check of their officials. Thats why some countries trying to study what laws they can provide in order to monitor cryptocurrencies ecosystem like bitcoin.
What kind of corruptions you are talking about? Bribes? Money laundering? Insider trading? Every single one of those existed before bitcoin and they will exist after it. If bitcoin made being corrupted easier, so what? Internet also made so many crimes possible. People even can hire hitmen from the internet. Do we blame the internet for that? No. Every technological advancement comes with pros&cons.
correct, crime is everywhere, but I think to make corruption in the form of btc was minimal happen, because I think btc has a very transparent transactions, might be the kind of corruption such as money laundering, corruption referred to by op.
Probably, its natural to its environment since we are talking about money where in people could turn they heads 360° if it is involve in a certain conversation, and money was always connected with corruption among leaders in each countries, since bitcoin is decentralized, power were distributed among the users here in bitcoin which makes criminals do illegal activities just to get bumch of money.
This is not impossible. Bitcoin has a great value when converted to money and because of this, it is prone to greediness and those greedy people are those with corrupted minds as the word suggested, corrupted minds will obviously lead to the dishonest act which the primary factor of corruption
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.
Yeah bitcoin has anonymous and decentralized facilities and that's what criminals or criminals use to do illegal activities. The corrupt just need to wash their money into bitcoin and then they can convert it again to fiat without being seen. That's bitcoin expertise
There are ways to track it though but with the use of mixing services it sure does help criminal activity a lot.
I have yet to hear of bitcoin being used in corrupt cases though, but I guess it's only a matter of time now.
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.
Of course all governments agree on fighting corruption in their country. Because a lot of corruption will be very harmful to the state. So when bitcoin offers a secret and anonymous financial transaction of course it will launch the process of money laundering on corruption, of course the government will ban bitcoin for obvious reasons Jump to: