Topic: Can Bitcoin also lead to corruption ? - page 66. (Read 51285 times)
I think that there are no causes to corrution other than human nature so bitcoin doesn't cause corruption. Corrupted people tend to be corrupted under appropriate situations.
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.
It is possible that someone is doing corruption with a digital currency such as bitcoin. You can corrupt and save money into bitcoins. No one knows that you are the owner of the money. Because the bitcoin is anonymous. I think a great way to get rid of your financial records is by turning them into bitcoins. Maybe if the corruptors know it they will save their money on bitcoin.
Recently there was a big news about the arrest of the BTC-e operator Alex Vinnik and the case is about the money laundering based on this link https://cointelegraph.com/news/us-government-seizes-russian-bitcoin-exchange-btc-e-domain.That clearly says that bicoin was use for corruption like any other currency, but the thing is we are wrong on what we believe that it's anonymous because this shows a good example that you can be trace if you do illegal activities.
It is possible that someone is doing corruption with a digital currency such as bitcoin. You can corrupt and save money into bitcoins. No one knows that you are the owner of the money. Because the bitcoin is anonymous. I think a great way to get rid of your financial records is by turning them into bitcoins. Maybe if the corruptors know it they will save their money on bitcoin.
In my opinion, no. If in use to save money the results of corruption may be.
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.
What a turnaround.
First we have corrupt politicians that are against bitcoin because of bribery they receive from banks and now they are afraid because of corruption.
Isn't this a mind-blowing argument?
Being untraceable is one of bitcoin's advantages and disadvantage at the same time; criminal activities can be found by bitcoin without getting to know the source of the money which make it easy for them to transfer money wherever and whenever they want. It's also a safe way to send money as a bribe. I hope that bitcoin don't get used in corruption otherwise people will think it's illegal or dangerous.
It is hard to be untraceable with bitcoin as everything is public and with the law catching up,it is difficult to run an exchange without KYC and other procedures so,i think these so called anonymity about bitcoin is just a myth and you need to find some other coin if you really want to be anonymous. 
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.
Taking into consideration that bitcoin its pseudo anonymous, i dont believe people would use it for steal money, since there are others coins which cant be traced at all. Btc-e owner has been part of the corruption and people had found it, soo even being hard to trace isnt impossible, soo sooner or later someone will catch you.
Some projects born to steal bitcoins like hyip, cycler, doubler, in the general the coins losted is few and doesnt worth to try to find the owners, since its ilegal and i doubt authorities will loose their time over such.
Some projects born to steal bitcoins like hyip, cycler, doubler, in the general the coins losted is few and doesnt worth to try to find the owners, since its ilegal and i doubt authorities will loose their time over such.
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.
Corruption with bitcoin is even more easy.There is no refund option with bitcoin so we cant get our stolen money back if we didnt get colaterral or If he is maybe from same coutry like as and we can proof that but it is really hard to proof it.Also bitcoin is anonymously so nobody cant track it so it is easy for use for mafia.
You are right, Corruption with bitcoin is easy as you said. So people can do a lot with cryptocurrency as it's not tracked and most bitcoin wallets without ID. So as a result you can control bitcoin as you want without any risk of use.
Being untraceable is one of bitcoin's advantages and disadvantage at the same time; criminal activities can be found by bitcoin without getting to know the source of the money which make it easy for them to transfer money wherever and whenever they want. It's also a safe way to send money as a bribe. I hope that bitcoin don't get used in corruption otherwise people will think it's illegal or dangerous.
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.
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
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.
Yes it is true, and it is an irrefutable fact, anonymous makes everyone save money to bitcoin which is money from their corruption, even bitcoin is safer and can not be traced by anyone. 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?
Indeed. I agree that too much consumption of bitcoin leading to more money in exchange. Because of what bitcoin provides, such as instant money, people become greedy that they always want a large count of money in their pocket and even in their hands that is why corruption happens. But we cannot blame bitcoin with corruption because it is the human behaviour that count because of their too much want in money that is why they become greedy that leads to corruption. We must properly use bitcoin to avoid this matter. 
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 what you say corruption is everywhere it is driven by greed. But luckily bitcoin is decentralized which means no banks are involved, banks are also corrupt for my opinion. I don't think that corruption is involved yet to bitcoins or any other coins, maybe the maker or something. But lets hope corruption will not occur in this industry. I agree, due to bitcoin being decentralized, the government has no means of intervening the market thus, lowering the potential chance of corruption. But since the price of bitcoins are highly volatile, corruption is still inevitable. Not to mention, due to the identities of people being unknown when transacting, this can also lead to illegal trading and transactions (i.e. money laundering, providing funds to criminal activities, etc.).
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?
Probably Yes, Since it decentralized. Any Gov't employee or regular employee, could transact under the radar. Less likely to be caught. To generalize, If there's Money involved expect that corruption will follow. Let's face it, Corruption can't be prevented most likely it will only get worst. People have their own way of using money, Good and Bad. Like what you've said, Greed is also part of our human nature and that's a fact. Deep in ourselves we are greedy, It's up to us if we will let it take over.
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 would totally lead to corruption because we all know that those people wants to hide their transaction on society so that they will get more money from the people. They will use bitcoin as a platform that they dream off as it will not show how dirty they are, it'll give them more idea on how they gonna steal people's money.
Of course it can happen, because the nature of bitcoin itself is not tangible. This makes it easier for greedy people to corrupt because they can easily save their corruption money into bitcoins without having to know how they do it.
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