Can Bitcoin also lead to corruption ? - page 73.

Wipro

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Quote from: Vaskiy on May 30, 2017, 12:53:47 AM

Quote from: Wipro on May 30, 2017, 12:47:11 AM

Quote from: kayeme on May 30, 2017, 12:18:04 AM

Bitcoin is great for hiding funds and u can use mixers to retain anonymity so for now it does lead to corruption I think. In the future however if you pay someone in bitcoin you can demand and see proof of which addresses a business or politician sends funds to provided you know their original address.

Mixer use to split the bitcoin in multiple segment of pieces. This will shows anonymity of bitcoin transaction, but its nothing will do for the corruption. You need clearly understand that bitcoin is wil take out the corruption if it is been implemented as legal money then all would be under one ledger.

Right now too everything comes under one ledger, but you cannot track the end to end user who involved into the particular transaction. You could have transparency in the transaction and if the anonymity is lost its same as using our traditional fiat. Bitcoin doesn't lead to corruption, but the knowledge base of people make use of it for corruption as it gives ease of transaction and anonymity.

I mean, If any bitcoin address has been alloted for the Goverment tresure. Simply with that concern bitcoin address, we can backtrack the address means we can identify the amount transfer from the concern wallet. If the transaction been in the one pipeline, That's good for the government and corruption would not happen.
Bro, Even I said the same thing only, It won't lead the corruption.

Jewell

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Quote from: salsa321 on May 31, 2017, 04:58:41 AM

Yes and that's for sure, we remember the past where bitcoin prices soared up in 2011, there are drug cartels buying bitcoin to launder their money, bitcoin prices are getting taller until finally the silk road comes up. The world's first tor market that provides online buying and selling of drugs and transactions using bitcoin as its currency. If a corrupt person thinks of saving his money into bitcoin, then it can happen and it is very sad

yes that can be right. i think not only bitcoin but all other fiat currencies including USD will be using for leading corruption. the criminal try to find out easy mean of corruption, but still i am hopeful that bitcoin may not be yet used for such kind of activities. and we are also hopeful that even in future bitcoin will be safe to be use for such criminal activities.

k@suy

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Of course, bitcoin can also lead to corruption as this is also good as cash or fiat money. People who has criminal minds are always looking a way how to make or hide their illegal transaction and bitcoin could be one of their possible option. There bare reports that this is used illegal activities already especially in dark web where someone can offer illegal services by accepting bitcoin as payment.

Japinat

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Quote from: John777 on May 31, 2017, 05:49:11 AM

Quote from: salsa321 on May 31, 2017, 04:58:41 AM

Yes and that's for sure, we remember the past where bitcoin prices soared up in 2011, there are drug cartels buying bitcoin to launder their money, bitcoin prices are getting taller until finally the silk road comes up. The world's first tor market that provides online buying and selling of drugs and transactions using bitcoin as its currency. If a corrupt person thinks of saving his money into bitcoin, then it can happen and it is very sad

Many launder their money through bitcoin or engage in illegal purchases, but this does not mean that everyone is so determined to use the crypto currency. Corruption can be with any currency.

It's a decision, every user has their own and even if with paper money money laundering is possible, there is nothing wrong with bitcoin, it simply shows how powerful the system is and because it's anonymous users has the confidence to use it at anything they like to.
The simple answer is yes it can lead to corruption but then again you cannot blame it to the currency itself, the person who is using shall be responsible.

John777

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Quote from: salsa321 on May 31, 2017, 04:58:41 AM

Yes and that's for sure, we remember the past where bitcoin prices soared up in 2011, there are drug cartels buying bitcoin to launder their money, bitcoin prices are getting taller until finally the silk road comes up. The world's first tor market that provides online buying and selling of drugs and transactions using bitcoin as its currency. If a corrupt person thinks of saving his money into bitcoin, then it can happen and it is very sad

Many launder their money through bitcoin or engage in illegal purchases, but this does not mean that everyone is so determined to use the crypto currency. Corruption can be with any currency.

nasipadang

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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 can't because all bitcoin transactions already exist on the blockchain, they could be corrupt because a budget that should have been fixed be adding and engineered itself for a profit that is hard to see, whereas on the blockchain all transactions and the amount of transactions were true without engineering and everyone can see

salsa321

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Substantiate your success.

Yes and that's for sure, we remember the past where bitcoin prices soared up in 2011, there are drug cartels buying bitcoin to launder their money, bitcoin prices are getting taller until finally the silk road comes up. The world's first tor market that provides online buying and selling of drugs and transactions using bitcoin as its currency. If a corrupt person thinks of saving his money into bitcoin, then it can happen and it is very sad

UCHCHILD

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I guess bitcoin is secure for corruption and how will corruption works here in the decebtralized system? I guess it is really diffult for corrupt people to fugure out on how to manage and manipulate and get bitcoin in such ways, unless crimes will be connected and so it is not corruption its a crime.
Because for me corruption is something that stole money without the notice of the public. That is how I look about corruption.

sobsitesearch

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i think so, because of the value of bitcoin and the government will start to adopt bitcoin as centralized currency and it would be constitutional currency.
most of the government official are corrupt they always take advantage of their position to do illegal thing and to make them richer with the money of others.

Dudeperfect

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15 years ago peter used to criticize his friends face to face and those friends use to hit a tight punch in return, then 10 years later, peter found Orkut and he used it to criticize the same friends. Friends were unable to hit a punch on peter's face now.

How Orkut lead to the criticism? Same about bitcoin.

theunbeatable

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I could either watch it happen or be a part of it

Quote from: Duzter on May 16, 2017, 12:14:59 AM

Bitcoin make the corruption and related activities much easier than the transaction we make through fiat or other fiat system. Even now a major collapse is made by a team sending ransomware and demanding in terms of bitcoin to be on the secure side. Already they have collected 33000$ worth of bitcoin.

In my opinion I think whatever our means of exchange, curruption lies in the very soul of people not the medium of exchange. Fiat or cryptocurrencies, curruption will continue if the people is greedy, don't blame cryptocurrencies in illegal transactions, it is the people who use it are at fault. We don't blame the fire burning up homes, we find the fault of the origin of fire.

Quote from: olushakes on May 20, 2017, 03:08:37 AM

Corruption in this dispensation has turn to cultural believe in almost all climes of the society but the degree or intensity differs across board. With bitcoin coning into the picture, then I see people exploiting it to meet their selfish ends and carry out what already is in them. In other words, bitcoin won't lead to corruption but increase it by those who are already in it.

That's right, the unending desires and the sickness that is ongoing through generations has been infecting everything new. No matter what is the revolutionized way of things if the chain of curruption won't be stop then still everything will be currupted. The problem is not about banks, governments, cryptocurrencies, capitalism, socialism, democratisation ------- but the problem is on our selves. Ourselves

Zicadis

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Dump it!!!

Quote from: Hutalar on May 29, 2017, 06:23:12 PM

Bitcoin looks like a secure way of economy so I do not think that bitcoin will ever lead to corruption. It will keep the community secure from corruption and will be a peaceful currency.

It might be considered secure but not foolproof from aiding corruption but I honestly think it is not the best solution to this vice

because the bitcoin public ledger will always have a record of this transaction happening should anything go wrong...

so I guess fiat will remain the best lead currency to aid corruption.

deisik

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Quote from: Xavofat on May 30, 2017, 02:28:16 PM

Unfortunately, preserving decentralisation can sometimes require economic incentives like those that mining provides. Sometimes that ends up resulting in greed and businesses can inevitably become corrupt if given too much power

I don't think we should refer to this phenomenon as "unfortunate"

Since this is likely the only feasible and sustainable way to make the parts of a whole (i.e. individuals in a society) contribute to common good via pursuing entirely selfish interests. In other words, other social models (say, communism) failed eventually and turned out to be unsustainable in the long run. In this way, as long as "certain groups which are part of a decentralized network" are kept small (ideally, consisting of a single individual), that shouldn't be an issue

alexsamudra

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It can happen when the rat rat country knows bitcoin, then the country is destroyed because of those who use bitcoin as a tool of corruption.

Silberman

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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 bitcoin is money, then it make sense that bitcoin could be used to commit corruption but to be honest I don’t think politicians needs to engage into anything of that since they are in the bed with the banks that helps them hide their money and avoid any kind of fiscal, political, or any other consequence we may think of, politicians always get away with their crimes.

Monnt

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Quote from: secdark on May 23, 2017, 09:09:43 PM

Quote from: PhilPrime on May 23, 2017, 05:22:35 PM

Quote from: Superways on May 23, 2017, 04:59:50 PM

Quote from: BCTBF on May 20, 2017, 10:28:13 PM

No, Because bitcoin is a digital currency that has transparent transactions. So, I believe and I think that bitcoin cannot be used as a tool for corruption.

Yes that is right the corruption is not possible with bitcoin as all the details of transfer of money will be available in the addresses of transactions of bitcoins and no one will be able to not see that how much is spend on what thing in a particular state.

It is possible if they will have a lots of wallet and only declare one ,it may seem that their wallet is like a bank. Though knowing that btc is not yet that known in our government then corruption in btc is not applicable.

Corruption is not all about in government it also happens with us, in a group of person like you have shares on a business and the holder of your money in btc will be corrupting all of the partners without knowing. Corruptions starts withour self it is not all about government it starts with our self

Yes, corruption simply mean any illegal deed, weather it is by any government personnel or by any other individual. Also there are many forms of corruption. But what leads to corruption is a moral turpitude. Those people who are morally weak and can’t stand to the greed they are the most affected people. They become corrupt and will leave no damage to the society but for their own personal interest. Now if such a person is using fiat or the Bitcoin he will find ways for corruption.

Xavofat

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Did you see that ludicrous display last night?

Anything where a significant amount of money is involved results in corruption.

Unfortunately, preserving decentralisation can sometimes require economic incentives like those that mining provides. Sometimes that ends up resulting in greed and businesses can inevitably become corrupt if given too much power.

The Bitcoin network is pretty safe from being overthrown by corruption, but certain groups which are part of a decentralised network can be corrupt themselves.

laiducnam

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In bitcoin platform, corruption isn't necessary since it's decentralized and government has not control to it. For the developers, they can be corrupt but it's less likely to happen since they wouldn't do things that can affect them negatively

bluefirecorp

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Quote from: joebrook on May 23, 2017, 04:48:58 PM

Quote from: Nahl on April 11, 2017, 01:38:29 PM

i wonder why bitcoin always be linked with things that are not good such as corruption, money laundering or drugs but in this case in my point of view bitcoin cannot lead people to corruption because it all pure from the bottom of their heart to starting corruption but indeed bitcoin could be the tool to storing corruption money

Its far easy to launder money with bitcoins and crypto currency than with other means, But bitcoins is not why people are doing such things, corruption stems from greed and that's where it all begins.

Yes no doubt it is the easiest for the money laundering. You don’t know who is buying that bitcoins and who sells it. This also is one of the reason for the government to not to accept the bitcoin as an economic activity for the country because the criminals will take benefit of it for illegal activities more than the innocent people use it for legal activities or for a straight and fair use.

deisik

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Quote from: randuwani on May 30, 2017, 12:14:30 AM

anything that can bring force or trigger voracity can degenerate individuals. Bitcoin like cash is no exclusion. Bitcoin can give individuals control, money related ability, and distinction. In the event that a man can't get enough of these with Bitcoins then he can transform into a degenerate individual misusing all that he can to get a greater amount of what Bitcoin offers

But it doesn't mean that it will, right?

It is the same as with guns, if you have one it doesn't mean that you are going to kill someone (unless your life or the lives of your family are threatened, of course). In other words, it can or cannot trigger some inner sides or traits of a person. Thus we necessarily arrive at the conclusion that it is the individual that matters here, so instead of banning guns, knives and bitcoins, the government should first and foremost care for the personal qualities of the civil servants and employees that it appoints to important posts (let's call such posts as highly briberous)

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