Can Bitcoin also lead to corruption ? - page 77.

joebrook

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Quote from: Nahl on April 11, 2017, 02:38:29 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.

JoMarrah Iarim Dan

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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?

Just like of what you have said "We all know that there is corruption everywhere", so it is not impossible that in bitcoin corruption will exist. There are a lot of genius person nowadays so they can find ways and besides at this generation impossible is now possible.

NJB18

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

deisik

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Quote from: Japinat on May 23, 2017, 09:05:03 AM

Quote from: Karmakid on May 23, 2017, 08:27:28 AM

A huge big and the most well knowned cryptocurrency in our cryptomarket now may also lead to corruptions by the holders of the bitcoins wallet and the main bitcoins network itself,they can easily manipulate our bitcoins if they want to

We keep hearing that stories that whales can manipulate bitcoin but would that lead to a negative outcome? No, bitcoin is currently on a pump situation and I cannot believe it rises this big because I only have a conservative projection this year to at least double by the end of year but it came too early

I think that yes, it could lead to negative consequences, and, ironically, in pretty much the same way as actual corruption does. In general, corruption means is an unlawful conduct aimed at acquiring personal benefits. There is nothing wrong in acquiring personal benefits in trading (these benefits would be represented by profits earned), but only as long as you earn them in a free competition (i.e. by following the laws which all market participants should follow). But this is exactly what Bitcoin manipulation ruins! Basically, it turns a free market into a manipulated market

In other words, Bitcoin manipulation leads to Bitcoin itself being corrupted

bitcoinmasterlord

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Quote from: Kotone on May 23, 2017, 12:37:04 PM

Quote from: Karmakid on May 23, 2017, 08:27:28 AM

A huge big and the most well knowned cryptocurrency in our cryptomarket now may also lead to corruptions by the holders of the bitcoins wallet and the main bitcoins network itself,they can easily manipulate our bitcoins if they want to

How they can manipulate bitcoin when they don't know who else holders of tons of bitcoin in this world. Also government is using bitcoin for their private transaction maybe they are the one who is leading corruption on each country that they leading. What can you say about this thought?

Yes all politicians are investing their black money in this bitcoin. no one can track this, and it is a safe method to save black money. But I have one doubt is there any people that they will buy bitcoins for hand to hand cash? If this facility is there, then there is a possibility are there to save black money in bitcoin. If it is not there, we have to convert BTC in online only, and the amount will deposit our account means it is not possible.

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Quote from: Karmakid on May 23, 2017, 08:27:28 AM

A huge big and the most well knowned cryptocurrency in our cryptomarket now may also lead to corruptions by the holders of the bitcoins wallet and the main bitcoins network itself,they can easily manipulate our bitcoins if they want to

How they can manipulate bitcoin when they don't know who else holders of tons of bitcoin in this world. Also government is using bitcoin for their private transaction maybe they are the one who is leading corruption on each country that they leading. What can you say about this thought?

Japinat

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Quote from: Karmakid on May 23, 2017, 08:27:28 AM

A huge big and the most well knowned cryptocurrency in our cryptomarket now may also lead to corruptions by the holders of the bitcoins wallet and the main bitcoins network itself,they can easily manipulate our bitcoins if they want to

We keep hearing that stories that whales can manipulate bitcoin but would that lead to a negative outcome? No, bitcoin is currently on a pump situation and I cannot believe it rises this big because I only have a conservative projection this year to at least double by the end of year but it came too early.
Anything can be use to corruption because it is just a tool, users have different purpose (good or bad) but that is their responsibility and they will face the consequences.

Karmakid

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A huge big and the most well knowned cryptocurrency in our cryptomarket now may also lead to corruptions by the holders of the bitcoins wallet and the main bitcoins network itself,they can easily manipulate our bitcoins if they want to

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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.

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

BCTBF

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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.

reuschman

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Everything can be used regarding corruption, it depends on its user, if you have some altcoin then you can do anything. You can pay to the drug dealer, you can pay to trafficking, you can pay to as a bribe.
So everything can be dependent on user how they use it.

Bagaji

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No! bitcoin doesn't lead to corruption. Corruption is a form of dishonest conduct .All depends on the definition you give to corruption, for corruption is an inbiuld in those people that are corrupt.

v0rtecxz

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I think it depends on the use of it, so bitcoin can be for negative things like corruption or money laundering, or for positive things, all back to each user

Salazarian

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Quote from: iluvpie60 on May 19, 2017, 11:49:29 AM

Yes. Look at Mark Karpeles and other big btc names. Jihan is screwing around with btc and causing drama. I think the big miners and all of them are corrupt. But we fortunately have a voice in that we can easily convert to another coin to get them to listen to us.

good and bad are parts of our life. i think we cannot blame people if we do not have any proof against them. in fact we cannot blame bitcoin for them. as bitcoin is a currency and every one has the right to use t according to his own wishes. depending that either he is using it for good or bad.

hatshepsut93

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Bitcoin and other cryptocurrencies can be used for bribing, not only by benefiting from anonymity, but it's also possible to create crypto laundering schemes. For example, you can create a fake casino and make some fake winnings before exchanging your Bitcoins for fiat. It would be very hard to prove for investigation that your money are dirty. And just receiving the bribe is much safer, since there's no physical evidence unlike with cash.
But it would be wrong to say that Bitcoin causes corruption, it's the people who make this decision, and innocent users should never suffer from any restrictions because of that.

olushakes

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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.

reuschman

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in my point of view, since it is based on an anonymous user so there is still huge scope to lead any corruption or any other illegal activities. if you can't identify those people then they are really free to occur anything they want..
but keep cool, because bitcoin is a very good platform to invest or trade.

coynedterm

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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?

everything in this world is used by the corrupt people for illegal way , if you will go back in the year 2008 then you will found that without the Bitcoin many corrupted people were using the fiat money for the illegal purpose also , so so here we cannot say that Bitcoin will results into the corrupted people to use the bad things with the Bitcoin .
But here I don't think that the corrupted people cannot use bitcoin for black money or any illegal thing because here in my opinion that many developed countries are accepting the Bitcoin as a legal way of payment so they are making some better rules for is the use of Bitcoins in the legal without any bad use .

Cazkys

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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.

Well also it is the reverse, btc transaction is very much random and one transaction is different from each other even though with those million transactions. Each transaction is very unique and you can't reverse check anything once it is sent. Cash on the other hand has a chance to be hacked or even so stolen. The only payment we are giving is the transaction fees but is just the coins just keeps on coming over the web.

April2017

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Exactly, because bitcoin is anonymous then people easy to put their money to bitcoin, and also bitcoin is very safe and profitable then they will happy to make bitcoin to hide their money.

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