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Topic: Can Bitcoin also lead to corruption ? - page 87. (Read 51258 times)

legendary
Activity: 1512
Merit: 1041
April 21, 2017, 06:38:28 AM
The only way to avoid corruption around bitcoin would each companie and governments expose their bitcoin accounts, soo all would know what the country is paying and the ammount, something that we dont know at all, since they keep this numbers hidden.
To my point of view I don’t see it happening. I am not sure whether any company or any government in past have allowed general public for such evaluation. Like any other individual who will not like it to let know anyone about his or her figure of bitcoin the person is holding.  Secondly for government it’s not only a wealth issue. It counts many more things for a government to show the number of coins that it holds.
sr. member
Activity: 454
Merit: 251
April 20, 2017, 10:29:05 AM
Well in my personal point of view it may, it may not. why is that ? Because if a certain rules has been change same goes with the procedure the way of the single member recieve there benefit from bitcoin changes and an explained situation that turn out to be a losses from any individual member then definitely the change of rules and procedure has lead to corruption already.
legendary
Activity: 1540
Merit: 1029
April 20, 2017, 07:58:53 AM
If you have been around, following the Bitcoin market as long as I have, then you will know that Bitcoin has been involved in many cases of corruption. Does this make Bitcoin itself corrupt although? Of course not, people are corrupt, not Bitcoin itself.
hero member
Activity: 3024
Merit: 745
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April 20, 2017, 07:28:06 AM
That's why governments are reluctant to introduce bitcoin to their communities Because bitcoin is decentralized  can not be controlled. Let alone anonymous makes people invisible in bitcoin And it helps the corruptors later on
And once the people will start to recognize bitcoin, many corrupt people will start to have a shady thinking about using bitcoin for corruption. It is why they don't want to let people know that there is a thing called "bitcoin". It is one of the reason that they are aware of and they don't want to let people go deeper with it.
hero member
Activity: 882
Merit: 500
April 20, 2017, 07:12:11 AM
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?
You are right but you need just think k throughly about this matter .
Just think that I am a corrupted person and I want to make corruption more and more , can you tell me that how I can make the same , definitely you have no word for me .
Just think if you want make buy bitcoin then you need to pay through the bank to bank Fiat which is fully open for the government and in that case you need to pay tax and also the person who will receive in bulk needed to pay tax , so this is a platform which increases the destroy the corruption in the money .
In the bitcoin everything is open and anyone can see transaction of the other , so bitcoin playing a role to destroy the black money also .
sr. member
Activity: 672
Merit: 250
April 20, 2017, 07:05:25 AM
I think bitcoin can be used as the instrument for corruption. Today bitcoin stays not so known and not so many people knoe about it. But in nearly future when bitcoin will be spreaded on our daily life and more people will talk about it politicians or businessmen can start to use bitcoin for their financial operations. The main factor here is that with bitcoin you can hide your indentity and such corruption money making can have place to be very often.
Yes definitely bitcoin can be an instrument to start a corruption. We all know that bitcoin is a crypto currency where the identity of transaction and the thing you will transact is private between the person will do the transaction so it may be used on gambling,money laundering and hidden money of the government where they hold money to earn. And if the government will have the power to manipulate bitcoin it may sure lead to corruption because of too much power and money.
member
Activity: 105
Merit: 10
April 20, 2017, 06:55:57 AM
That's why governments are reluctant to introduce bitcoin to their communities Because bitcoin is decentralized  can not be controlled. Let alone anonymous makes people invisible in bitcoin And it helps the corruptors later on

Yes, it helps them to carry out corruption with the help of bitcoins, thereby developing both the currency and corruption.
newbie
Activity: 53
Merit: 0
April 20, 2017, 06:51:49 AM
corruption is like mafia - never dies  Grin
sr. member
Activity: 476
Merit: 250
April 20, 2017, 03:20:16 AM
That's why governments are reluctant to introduce bitcoin to their communities Because bitcoin is decentralized  can not be controlled. Let alone anonymous makes people invisible in bitcoin And it helps the corruptors later on
legendary
Activity: 1862
Merit: 1004
April 20, 2017, 02:33:06 AM
Many people is mentioning BTC as illegal not because of their narrow minds, but for fear and half knowledge about it. Many countries have mentioned using it illegal but no rules are their still, and USD/fiat is used more for illegal activities because its a world currency and BTC is yet not been common for the casual peoples. But yes definitely I agree, Bitcoin can not lead to corruption, its the use of Bitcoin which can lead to corruption.
Calling bitcoin illegal is totally stupid approach, as you said only narrow minded cryptocurrency newbies can say it.
Don't be mistaken anti-bitcoin countries are not trying to help their citizens and save them from influence of evil bitcoin.
They are worried that with new age of bitcoin powered economy they wouldn't be able to collect taxes. That's all.
newbie
Activity: 12
Merit: 0
April 20, 2017, 02:28:17 AM
Corruption and bitcoin are something different. Corruption is a moral issue that needs to be eradicated. All things can be linked and may be related, every thing related to money can be done for corrupt activities depending on how you react
sr. member
Activity: 1232
Merit: 250
April 20, 2017, 02:18:03 AM
The mere fact that btc deals with huge amounts of money means that it's impossible to think it won't be prone to corruption. It's everywhere even with small communities. The very definition of corruption applies to bitcoin if you think about it. Hopefully it just doesn't bloe out of proportion that will lead to btc's ruin

Bitcoin itself can be used for a variety of purposes. Someone uses it for good, and someone for illegal activities
It depends on the various personality of every person. If the background of the users is really bad and it has a high chance to be used as an illegal activities. But compared with the fiat currency and fiat still become a leader to be used for the illegal activities especially for the money laundering or corruption.

And there are people who says they won't use bitcoin because it is illegal but if they just think about it and widen that narrow minds of them, the most used currency for illegal activities is USD/fiat . There is something wrong in the question of this thread it should be can bitcoin be used for corruption? not it can lead to . It is impossible that bitcoin can lead to corruption, It's in the person's personality tho bitcoin and other currency can be a tool for it .

Many people is mentioning BTC as illegal not because of their narrow minds, but for fear and half knowledge about it. Many countries have mentioned using it illegal but no rules are their still, and USD/fiat is used more for illegal activities because its a world currency and BTC is yet not been common for the casual peoples. But yes definitely I agree, Bitcoin can not lead to corruption, its the use of Bitcoin which can lead to corruption.
sr. member
Activity: 406
Merit: 250
Wolf
April 20, 2017, 01:28:27 AM
The mere fact that btc deals with huge amounts of money means that it's impossible to think it won't be prone to corruption. It's everywhere even with small communities. The very definition of corruption applies to bitcoin if you think about it. Hopefully it just doesn't bloe out of proportion that will lead to btc's ruin

Bitcoin itself can be used for a variety of purposes. Someone uses it for good, and someone for illegal activities
It depends on the various personality of every person. If the background of the users is really bad and it has a high chance to be used as an illegal activities. But compared with the fiat currency and fiat still become a leader to be used for the illegal activities especially for the money laundering or corruption.

And there are people who says they won't use bitcoin because it is illegal but if they just think about it and widen that narrow minds of them, the most used currency for illegal activities is USD/fiat . There is something wrong in the question of this thread it should be can bitcoin be used for corruption? not it can lead to . It is impossible that bitcoin can lead to corruption, It's in the person's personality tho bitcoin and other currency can be a tool for it .
hero member
Activity: 2996
Merit: 524
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April 20, 2017, 12:26:10 AM
The mere fact that btc deals with huge amounts of money means that it's impossible to think it won't be prone to corruption. It's everywhere even with small communities. The very definition of corruption applies to bitcoin if you think about it. Hopefully it just doesn't bloe out of proportion that will lead to btc's ruin

Bitcoin itself can be used for a variety of purposes. Someone uses it for good, and someone for illegal activities
It depends on the various personality of every person. If the background of the users is really bad and it has a high chance to be used as an illegal activities. But compared with the fiat currency and fiat still become a leader to be used for the illegal activities especially for the money laundering or corruption.
hero member
Activity: 812
Merit: 509
April 20, 2017, 12:20:45 AM
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?

Yes, corruption is everywhere.

However that doesn't mean that bitcoin is the one to blame.

It's definitely not the one that is leading to corruption.

What is leading corruption is greedy politicians and people that have the slightest power they can exploit.

You simply cannot blame a currency for what people does, illegally or legally.
full member
Activity: 266
Merit: 100
April 20, 2017, 12:18:53 AM
i think it is being used for corruption for a long time.you cant stop corruption because how much tougher laws you make there will always be a loophole and people will make use and be away with it.people should bee aware and use bitcoins as a better use otherwise bitcoin will fall down at a exponential level.thats y education is so important.
full member
Activity: 238
Merit: 100
April 19, 2017, 11:32:53 PM
An unfulfilled mind and will that will bring them into corruption, if all that happens this worldly destruction and no justice.
sr. member
Activity: 532
Merit: 280
April 19, 2017, 09:21:57 PM
Off course bitcoin can also lead to corruption. Bitcoin is a form of money only, in digital form. Any kind of money can lead to corruption. Moreover the anonymity feature adds to it. Actually it doesn't really depend upon currency, it depends upon person's mentality. If man wants to do corruption, he will find his way.
I think Corruption is for government and bitcoin is not yet government regulated which is it will not get corrupted i think the term is not fit in bitcoin, bitcoin will lead to scam or stafa and i think that would be a correct term in bitcoin for illegal activities.
hero member
Activity: 3080
Merit: 603
April 19, 2017, 09:04:14 PM
My government is warning us that bitcoin can be use to launder money and that's a yes, bitcoin can also lead to corruption only if the person is doing s shady activity. It will just depend on what is that guy aiming with bitcoin, greediness will also lead to do something bad like corruption but so far I haven't know if there is an official of our government that uses bitcoin.

As of now, bitcoins are only popular in gambling, porn and some shady transactions. But in main business bitcoins are not fully accepted in many countries.

Corruption is different, it depends on individuals but because of bitcoin transactions can't be traced so easily some people may prefer bitcoins as payment mode than fiat.

And with the help of mixers everything that is related to shady transactions can be hidden with the use of it. With the shady transactions, let's say a government official or anyone that wants to corrupt a company, he really can use bitcoin for it because there's no way for him to trace unless someone knows his bitcoin address.
legendary
Activity: 1442
Merit: 1025
April 19, 2017, 04:00:53 PM
I think corruption use bitcoin or fiat money is still same very dificult, abou money laundring
because transaction bitcoin still use bank account, with bank account youre all financial transaction still can trace
I don’t think it could because at the end of the day one needs to convert it to the local traditional currency and the medium used for it is bank accounts. A transaction made by bank is recorded and the competent authorities can see it anytime they want to. Secondly if it involves corruption or such like things its value will be decreased instead of increasing.
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