Can Bitcoin also lead to corruption ? - page 84.

Sled

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Quote from: panju1 on April 27, 2017, 08:21:39 PM

Quote from: Hypnosis00 on April 26, 2017, 09:28:56 AM

Bitcoin can't lead to corruption because bitcoin is decentralized and it can't be controlled by anyone, the bitcoin is known for being decentralized and if bitcoin lead to corruption then it means that it already broke its features and it will be a huge effect for the price and it will go down.

The OP is not talking about corruption in Bitcoin. He is talking about the features of Bitcoin helping corrupt people.
While that is a concern, we should not be blaming the tools for the action of men.

Yes i agree it is the features of bitcoin that can help the corrupt people to be more powerful because bitcoin is anonymous and it is one of the threat for us that can abuse by the corrupt people because we can't notice if they are doing illegal stuff or corrupting because bitcoin is not traceable and that is why bitcoin can lead to corruption because of anonymity.

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Quote from: Hypnosis00 on April 26, 2017, 09:28:56 AM

Bitcoin can't lead to corruption because bitcoin is decentralized and it can't be controlled by anyone, the bitcoin is known for being decentralized and if bitcoin lead to corruption then it means that it already broke its features and it will be a huge effect for the price and it will go down.

The OP is not talking about corruption in Bitcoin. He is talking about the features of Bitcoin helping corrupt people.
While that is a concern, we should not be blaming the tools for the action of men.

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Quote from: Hypnosis00 on April 26, 2017, 09:28:56 AM

Bitcoin can't lead to corruption because bitcoin is decentralized and it can't be controlled by anyone, the bitcoin is known for being decentralized and if bitcoin lead to corruption then it means that it already broke its features and it will be a huge effect for the price and it will go down.

I ought to disagree with you on this one. It's because of the anonymity of bitcoin that it can lead to corruption. Imagine you are a powerful man in the business industry or government official, It is proven that there is always a corrupt person within these fields and if they laundered or corrupted money, they can hide it through bitcoin which can't be trace. So that person will not get caught and he/she can get away with the money he/she stole from the people.

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Quote from: BlackBaron on April 26, 2017, 09:28:43 AM

yes it is very possible and in my opinion it has biggest chance than fiat money I mean look at bitcoin that has anonymity and small fees it is perfect for corruption attempt

Not necessarily, because if you are in situation (as a criminal) that requires bribing an officer, you would have to approach him before, with this proposition.
If you would get caught, trying to bribe law enforcement officer with bitcoin is a rather bad idea, because you cannot make the transaction in a blink of an eye.
For example, if you have 2,000$ dollars with you, and for some reason police will get you while smuggling the drugs through border, you can just give them the cash you have and drive away (if they will agree for a bribe of course). But in the same case but with bitcoin payment, that would be a really hard to do because the opposite side needs to know that they indeed have their money, the whole thing cannot last too long because someone may find out that you and the officer are doing a crime.

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Quote from: carlerha on April 25, 2017, 12:32:35 AM

Quote from: majeed on April 24, 2017, 12:26:07 PM

yeah I do think so. The corruption of Bitcoin is likely to happen in the future when there are too many altcoins exist and many advance function has been added to the new coin. When it happens, the prices of Bitcoin will drop down and no one will care about this coin anymore

i do not think that such activities can harm bitcoin so much, because bitcoin itself is not responsible for that. as we can see that there may not be a sing currency which may not be use for corruption, even the USD and all other currencies may be used for corruption but still USD is one of the most popular fiat currency of the world.

Corruption and greed are always there, whether it is fiat gold or bitcoin if it is something expensive, people will always find a way to utilize it for bad things, because greed is a part of us since the begging.

But perhaps some people say that due to bitcoin hiding the identity of the use it enhances the illegal uses of money like for using it to bribe people for money laundry and other illegal activities.

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Bitcoin can't lead to corruption because bitcoin is decentralized and it can't be controlled by anyone, the bitcoin is known for being decentralized and if bitcoin lead to corruption then it means that it already broke its features and it will be a huge effect for the price and it will go down.

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yes it is very possible and in my opinion it has biggest chance than fiat money I mean look at bitcoin that has anonymity and small fees it is perfect for corruption attempt

theunbeatable

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

What causes the countries to fall? What causes the wars between nations? What causes the economy of the rich countries starting to break down?
Land, territories, reserves, immediate threat to global elites and so on.. Why do people did these? Because of power. What has made them to acquire power? Wealth. The endless desires of people made this world in chaos. They've rather choose to kill and destroy just for wealth.

This Cryptocurrency thing and it's involvement to overthrow central banks and the present system is a serious matter. It's more than just earning, curruption and the wrongs of everything will be here. This will be a bloody hell. And if you're asking me if Bitcoin can lead to curruption? It is already on fire.

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Quote from: lordquanta on April 25, 2017, 02:15:04 AM

Bitcoin is a currency. Corruption has nothing to do with what type of currency or asset is used. Corruption is result of greed. Currency is mode of transfer of wealth/value

There is still a difference

It should be obvious that more anonymous coin allows more room for corruption while completely public transfers which anyone can see and analyze are not suitable for "corrupting" since bribes will be seen at once. That's why corruption loves cash, cash is untraceable, and the police takes great efforts to catch the corrupted officials red-handed when they receive bribes. Fiat transfers are easily traceable so they are not used much directly, only through strawmen but that involves additional risks

Nevis

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Yes,actually all altcoins bitcoins and any other form of money can be a root of corruption as long as the people who will use the money will benefit for his own.

DrGuns4Hands

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I'm thinking about it too if in bitcoin if there's any corruption going because we all know that bitcoin is holding a huge money. the one that make me think more because bitcoin has no tax at all that's why im thinking really if there's any corruption that's happening inside bitcoin. but i don't think there is because it's encrypted.

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Quote from: Ewox on April 25, 2017, 12:22:53 PM

Quote from: Aikidoka on April 23, 2017, 12:58:03 PM

In my opinion, everything leads to corruption if it is used in the wrong way.

I agree especially if it'll involve the government (which I doubt will happen anytime soon) and if the people becomes so greedy; corruption will take place.

Which is not rrally that impossible with btc. It involves money of course, which ultimately is the cause of greed. I think anything that is connected with miney is automatically prone to corruption. It's likely that the bigwigs would be taking advanatge of the regilar users like hs. The sad thing is, in thus world, corruption has a very strong grip that normal people like us would juat have ti accept since we won't be able to do anything

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Quote from: Aikidoka on April 23, 2017, 12:58:03 PM

In my opinion, everything leads to corruption if it is used in the wrong way.

I agree especially if it'll involve the government (which I doubt will happen anytime soon) and if the people becomes so greedy; corruption will take place.

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Quote from: giveen on April 25, 2017, 02:46:55 AM

There isn't anything lead it's already too late. Many people have already converted their black money to white through the use of bitcoin. By the time most of the government realised something like bitcoin existed it was just too late. It was a i think still is the main source of payments on darkweb.

Bitcoin is leading to corruption I agree, but how the block money is converted to white through this Bitcoin, i am not understood, because in my country no one will give bitcoins for a fiat currency that means for hand cash. If we buy coins from a bank account, it is white money. Only if we buy coins with the mode of hand cash, it is black money. Maybe in real casino's, it is possible, but I am not sure.

giveen

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There isn't anything lead it's already too late. Many people have already converted their black money to white through the use of bitcoin. By the time most of the government realised something like bitcoin existed it was just too late. It was a i think still is the main source of payments on darkweb.

SingAlong

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Quote from: lordquanta on April 25, 2017, 02:15:04 AM

Bitcoin is a currency. Corruption has nothing to do with what type of currency or asset is used. Corruption is result of greed. Currency is mode of transfer of wealth/value.

Yep I agree. Corruption can happen anywhere because it is up to the people really particularly those who are corrupted and the value and morals that is instilled within them is not that praiseworthy because of their not that nice deeds which result bad especially for others whether they are conscious about it or not or just simply they don't care at all.

lordquanta

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Bitcoin is a currency. Corruption has nothing to do with what type of currency or asset is used. Corruption is result of greed. Currency is mode of transfer of wealth/value.

carlerha

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Quote from: majeed on April 24, 2017, 12:26:07 PM

yeah I do think so. The corruption of Bitcoin is likely to happen in the future when there are too many altcoins exist and many advance function has been added to the new coin. When it happens, the prices of Bitcoin will drop down and no one will care about this coin anymore

i do not think that such activities can harm bitcoin so much, because bitcoin itself is not responsible for that. as we can see that there may not be a sing currency which may not be use for corruption, even the USD and all other currencies may be used for corruption but still USD is one of the most popular fiat currency of the world.

Rinder

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Bitcoin can be used for multiple things, corruption is one of them, i doubt someone is doing this, because bitcoin does allow to remain hiden at all, lets suppose i wanna pay you to accept my companie, i will pay to your adress, soo if something happens i just need to show your adress, and since its public all will see those. Bitcoin has been used and remains for good purposes as well for bad purposes.

bartolo

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The corrupts don´t need bitcoin for their corruption. Bitcoin offers privacy in transactions, true, just like bank accounts in tax havens. The corrupts have already their system and will not change it to adapt it to a currency that banks don´t like, especially when they don´t need it and because bitcoin, after all, always leaves a trace.

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