Can Bitcoin also lead to corruption ? - page 74.

crairezx20

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Quote from: Vaskiy on May 30, 2017, 01:53:47 AM

Quote from: Wipro on May 30, 2017, 01:47:11 AM

Quote from: kayeme on May 30, 2017, 01:18:04 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.

Any time they can use it for corruption because of anonymity they can not be trace if their doing some transaction. even the bitcoin still not legal in some country they are still can use it for corruption. we don't maybe there are some government official that they are using bitcoin for anonymity.
Hoping that they can make a solution for this .. since it can be a big problem in the future.

aniespresident

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In the event that you consider illegal tax avoidance as debasement then I think bitcoins can prompt defilement. I'm general crypto money is the most ideal approach to launder cash that is the reason numerous legislatures are against it.

Vaskiy

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Quote from: Wipro on May 30, 2017, 01:47:11 AM

Quote from: kayeme on May 30, 2017, 01:18:04 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.

Wipro

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Quote from: kayeme on May 30, 2017, 01:18:04 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.

hezekiah

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Bitcoin Is Already In A Case Of Corruption.. Everywhere In The Economy . Because Of Money They Corrupt
Lets Make Sample's : Government Officials , Non-Trusted (Red Mark)

kayeme

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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.

randuwani

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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

PhucS

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Quote from: Hutalar on May 29, 2017, 07:23:12 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.

I do not think so, corruption can happen anywhere, anytime we do not know. Valuable things can lead to corruption, Bitcoin is currently very valuable, it will be very easy to cause corruption by the greed of many people. We all know Bitcoin is a currency decentralized, freedom for everyone, anyone can use it, but also because of that nature, it has made many people greedy because the value of Bitcoin is very high. And they do that without moving through Bitcoin, which is using fiat money

Lieldoryn

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The reason for the corruption is not bitcoin. The basic number of corrupt use of Fiat money. I have not heard a single case of corruption with the use of bitcoin. Even more interesting would be to hear this trial. You can fight corruption only by liberalization of the legislation.

Hutalar

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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.

uusgila

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It is truly verging on silly to claim that a general advance is because of some administration mediation. By and by, I keep to the conclusion that the best an administration can do is not to ruin excessively or meddle too profound with the advancement of society. As such, they can exacerbate things awfully yet they can barely improve them a great deal. It resembles today's excavators, while many if not every one of them might be pleasant folks independently, however together, as a framework, they are as rebel and heartless as some other entrepreneur out there never going to budge on sucking in benefits

cryp24x

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I believe anything that has value can lead to corruption. It depends on the person's morality. If the person is more aligned in doing evil things no matter what he is using, greed will take over and thus make the person minds corrupt. Aside from that since the nature of bitcoin is pseudo-anonymous plus the mixer service, officials can be tempted to accept bitcoin as a bribe.

Biggapp

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Quote from: BeGoods on May 26, 2017, 10:22:13 PM

Quote from: Casabrandy on May 24, 2017, 10:49:12 AM

Quote from: boyptc on May 24, 2017, 05:44:44 AM

Quote from: NJB18 on May 23, 2017, 02:41:48 PM

Definitely Yes, it is not Bitcoin but the people handling bitcoin that creates corruption. Greed of money and power will make it corrupt.

All of the medium for transactions doesn't have something to do with bad transactions. But yes we are the ones that are making the decision if we are going to allow and let those mediums specific with bitcoin to use for corruption. Maybe in the future or at this moment there are corrupt people that are thinking about it already.

Government officials or businessman might already studying it now on how they will be able to do it.

Bitcoin is not so well known so I think for now there are still a few politicians who use bitcoin for tools as money launderers or corruption. Or I myself have never heard of it?

well doing corruption does not depend on the bitcoin as it is an anonymous currency or illegal currency, i think it depends on the people's mentality, when bitcoin was not founded it didn't mean that people were involve in corruption, corruption and money laundering depend on people they can do it either with fiats or anything else, but i will say that use bitcoin for legal activities may be the govt legalize it.

@prashant

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Quote from: Obito on May 28, 2017, 06:22:37 AM

Quote from: speem28 on April 11, 2017, 01:02:34 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 don't think so because for me bitcoin could help to change the future of one country especially on improving of thier economy. I guess there will be a corruption because government can manipulate the money but we know that bitcoin is anonymous so government can control it. Therefore, bitcoin could not lead to corruption.

Corruption begins from government level,when bitcoin was not there people/government employees were still hiding their money in privacy protected bank.now bitcoin has gained a lot of attention and thanks to its anonymous nature ,it has become a major asset in hiding black money.

rickadone

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Quote from: gabmen on May 23, 2017, 08:18:51 AM

Quote from: BCTBF on May 20, 2017, 11:28:13 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.

asong as it. an be manipulated, it can be prone to corruption. there are whales that have large numbers of btc that can manipulate the movement of btc and if they want to, it can be corrupted. everything can lead to curruption as long as there are powerful people that succumb to greed

Yes there are ways to corruption. Somewhere when I think of the anonymity of the Bitcoin and the crypto system, it is basically the first stage of the corruption that we enter to.

As, we have no idea of whoever is involved and using the Bitcoin or the Alts and for what purpose are they actually being used. For many of the people it is a platform where they can easily accommodate their black money in the bitcoin.

Obito

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Quote from: speem28 on April 11, 2017, 01:02:34 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 don't think so because for me bitcoin could help to change the future of one country especially on improving of thier economy. I guess there will be a corruption because government can manipulate the money but we know that bitcoin is anonymous so government can control it. Therefore, bitcoin could not lead to corruption.

kayeme

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Bitcoin lets u hide corrupt funds but it also lets the person providing the funds ask for accountability, one can ask for explanations for where each part of the funds go to and verify that they were spent as intended.

PhucS

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Quote from: kpcian on May 28, 2017, 04:02:26 AM

Corruption can be happened at anywhere, any time and anyone. In terms of corruption anyone can be involved in this illicit content. So they can use any platform to do this, bitcoin along with all currency can also be used as a exchange of money, so every form of currency can lead to corruption. Basically it depends, how the user uses it...

You're right, I totally agree with you. Corruption can happen everywhere at all times, especially in today's modern society, the phenomenon of corruption is happening more and more. Bitcoin is also a currency, it is quite similar to other currencies, can lead to corruption by anyone, especially the value of BItcoin is increasing, the more likely it is corruption. But I hope that does not happen in the future, otherwise Bitcoin will be badly affected

radjie

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Of course can happen bitcoin can cause people corruption.
Because by knowing bitcoin people who are accustomed to corruption they are very beneficial with the existence of bitcoin from the funds generated by corrupt people can be hidden through this digital money they can more benefit if they save the results of corruption in a long time will progress from the money Generated.

kpcian

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Corruption can be happened at anywhere, any time and anyone. In terms of corruption anyone can be involved in this illicit content. So they can use any platform to do this, bitcoin along with all currency can also be used as a exchange of money, so every form of currency can lead to corruption. Basically it depends, how the user uses it...

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