Can Bitcoin also lead to corruption ? - page 76.

Theb

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Quote from: Palodar on May 24, 2017, 06:49:44 PM

Quote from: Comeatmebro111 on May 24, 2017, 06:17:05 PM

Bitcoin definitely has the potential for corruption. It is hard to trace and with a reliable mixing service you can convert it to fund relatively easily. Its used to buy and sell drugs already, its only a matter of time before you can bribe government officials with it as well.

Anything related to money can be a way for people wanting to corrupt someones money. Limited access to once wallet just like in a bank can be a way for them to think of doing illegal.

Basically anything that can give corrupt people at an advantage will surely be use at their corrupt things. Bitcoin right now is basically being used in money laundering what more it can do to other illegal things. It is a fact that Bitcoin being so secure made it popular to criminals, so popular that it became a main currency in dark web.

Palodar

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Quote from: Comeatmebro111 on May 24, 2017, 06:17:05 PM

Bitcoin definitely has the potential for corruption. It is hard to trace and with a reliable mixing service you can convert it to fund relatively easily. Its used to buy and sell drugs already, its only a matter of time before you can bribe government officials with it as well.

Anything related to money can be a way for people wanting to corrupt someones money. Limited access to once wallet just like in a bank can be a way for them to think of doing illegal.

Lancusters

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I already know one corrupt which has 420 bitcoins, but this is the exception to the rule. Usually all corrupt the habit prefer cash. In addition, people who pay bribes are also not very familiar with bitcoin and corrupt easier to take cash than to explain to people what bitcoin is and where to get it.

Comeatmebro111

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Bitcoin definitely has the potential for corruption. It is hard to trace and with a reliable mixing service you can convert it to fund relatively easily. Its used to buy and sell drugs already, its only a matter of time before you can bribe government officials with it as well.

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Quote from: ProzCoin on May 24, 2017, 02:22:27 PM

Quote from: vok-wok_hok on May 24, 2017, 02:13:45 PM

Any valuable thing and currency including bitcoin can be used for corruption because of human greed. Corruption will exist as long as there is human greed.

and it will always happen because the human can not stop being greed. That is what makes human. However, right now, the only thing we need to do is to hold as many bitcoin as we can because the prices of bitcoin are extremely high

Yeah. Greedy people will always take advantage of anything they can get their hands on and bitcoin won't be any exception especially now that bitcoin's prices are getting a lot of people interested in it. These greedy people would definitely look for ways to take advantage of this

ProzCoin

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Quote from: vok-wok_hok on May 24, 2017, 02:13:45 PM

Any valuable thing and currency including bitcoin can be used for corruption because of human greed. Corruption will exist as long as there is human greed.

and it will always happen because the human can not stop being greed. That is what makes human. However, right now, the only thing we need to do is to hold as many bitcoin as we can because the prices of bitcoin are extremely high

vok-wok_hok

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Any valuable thing and currency including bitcoin can be used for corruption because of human greed. Corruption will exist as long as there is human greed.

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Quote from: speem28 on May 24, 2017, 04:04:27 AM

Quote from: Xester on May 16, 2017, 01:47:34 AM

Quote from: LegendOF45 on May 16, 2017, 12:11:23 AM

With bitcoin we can hide money unbeknownst to anyone, and I'm sure many a corrupter switched their money out of Panama banks to bitcoin, its impact is the price of the bitcoin continues to rise.

Let me make this clear. Bitcoin does not lead to corruption but rather it is the greed of people that will lead any kind of currency being used to corruption and bitcoin is not exemption. Greed is the cause of corruption and all currencies including bitcoins will be use for that purposes. As long as people are greedy and corrupt then all financial systems in the world is also tainted by corruption.

Well, greediness is one factor that leads people to corruption but what I mean here in my topic is that if bitcoin can lead to corruption as a whole not just as a currency. I mean we all know the great features of bitcoin like its anonymity, easy transaction and no entity or organization that controls bitcoin. All these features tend to attract greedy people to somewhat use it as a means of hiding their laundered or corrupted money right?

This is not what you said in the opening post

Basically, you asked whether bitcoin can lead to corruption since it is also considered money. Now you tell something different and seem to mean something entirely different. Apart from that, personally I don't see the distinction while you don't make it clear in respect to Bitcoin "as a whole" and Bitcoin as a currency. All these features (anonymity, easy transaction, etc) make Bitcoin into a specific currency and they distinguish it from other currencies. I think you may want to clarify your point

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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.

The government is already interested in how to use bitcoin to obtain its own benefits and corruption with anonymous currency will be much more convenient.

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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.

boyptc

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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.

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Quote from: radjie on May 23, 2017, 10:32:23 PM

It could happen because the character of a person is different, With the intention of cheating someone for wanting to get abundant results everything he would do including cheats.
They create a site with rules in which the user should invest on the site, But after successfully collecting users to invest the site is lost somewhere, Then it brings a certain amount of user money that has been invested but the site brings the money away so that it leads to corruption.

This is a fraudulent scheme, which is mainly conducted by newcomers for the purpose of rapid enrichment and bitcoin with the help of its anonymity contributes to the development of this direction.

speem28

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Quote from: Barbarian on May 19, 2017, 10:12:38 PM

Quote from: BigBall on April 11, 2017, 05:05:49 PM

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.

I don’t think corruption is easier with bitcoin since your transactions are very easy to track unlike what you can do with cash that is completely anonymous, so I think you are mistaken on that.

You got it all wrong pal, you're a member now and I find it hard to believe that you still don't know that transaction in bitcoin is anonymous. You should know the basic information about bitcoin to start with and since you're a member I'm sure that you encounter or read some post that bitcoin is not what you say it is, rather it is completely the opposite.

speem28

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Quote from: Xester on May 16, 2017, 01:47:34 AM

Quote from: LegendOF45 on May 16, 2017, 12:11:23 AM

With bitcoin we can hide money unbeknownst to anyone, and I'm sure many a corrupter switched their money out of Panama banks to bitcoin, its impact is the price of the bitcoin continues to rise.

Let me make this clear. Bitcoin does not lead to corruption but rather it is the greed of people that will lead any kind of currency being used to corruption and bitcoin is not exemption. Greed is the cause of corruption and all currencies including bitcoins will be use for that purposes. As long as people are greedy and corrupt then all financial systems in the world is also tainted by corruption.

Well, greediness is one factor that leads people to corruption but what I mean here in my topic is that if bitcoin can lead to corruption as a whole not just as a currency. I mean we all know the great features of bitcoin like its anonymity, easy transaction and no entity or organization that controls bitcoin. All these features tend to attract greedy people to somewhat use it as a means of hiding their laundered or corrupted money right?

radjie

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It could happen because the character of a person is different, With the intention of cheating someone for wanting to get abundant results everything he would do including cheats.
They create a site with rules in which the user should invest on the site, But after successfully collecting users to invest the site is lost somewhere, Then it brings a certain amount of user money that has been invested but the site brings the money away so that it leads to corruption.

secdark

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Quote from: PhilPrime on May 23, 2017, 06:22:35 PM

Quote from: Superways on May 23, 2017, 05:59:50 PM

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.

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

kidoseagle0312

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Yes it is, because of being pseudonymous by bitcoin the identity of individuals was unknown. And because of that matter
those people who are greed take advantage of it to get profit of bitcoin which is not supposed to be happen and abuse as much
as possible.

Lieldoryn

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The majority of corrupt people who in his life has made a good career and now convert their opportunities in the power in personal gain. They don't trust bitcoin, and prefer to earn bribes in the traditional currencies. At the moment, the corrupt officials generally are free to take bribes in bitcoin and this will not be considered a bribe since bitcoin does not have the status of money, but they are not ready for it mentally.

PhilPrime

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Quote from: Superways on May 23, 2017, 05:59:50 PM

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.

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.

Superways

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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.

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.

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