Topic: Can Bitcoin also lead to corruption ? - page 88. (Read 51285 times)
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.
Bitcoin is currency and more over it is anonymous currency so it can possibly lead to corruption on mass level. Just imagine bitcoin has no limit of transaction, saving online so people can keep in their black money there to save their taxes, bills which are to be paid to government. That will lead to corruption. There are so many ways people can actually use bitcoin for corruptions directly or indirectly.
The problem is, as I explained in another post, that you can corrupt someone without money. For example, a powerful company can get favorable laws that make it earn money in exchange for giving a job on the board of directors to the ruler when this term ends. You do favors to me and when you finish your term I will do you a favor.
Money that will lead to corruption
Indeed, any form of money leads to corruption which is not that good actually. As long as people is so lightened by money they were turn to greediness and leads to corruption, so it is in bitcoin. Currency is not to blame for bitcoins, but only human mind which thinks and acts for corruption.
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
I think that near any valuable asset there will be talk of corruption. Bitcoin itself can be used for a variety of purposes. Someone uses it for good, and someone for illegal activities
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.
Corruption is thing can be do because of power. As we can see the developer of bitcoin is not that starve on power and money. Because bitcoin is money itself. We can do lot of thing in bitcoin nowadays because it developing day by day meaning to say that the fee or somewhat called tax is been used in a good way. Not like on government related tax that can be lead on corruption because of the too much power and money. So i guess the bitcoin can just lead on corruption if it may be legalize or the government will manipulate it. 
Bitcoin can be a tool for coruption, in fact it is one of the best tool for coruption. Corruption can happen as long as the people involved have some evil intention. It doesn't matter if bitcoin exist or not, even if bitcoin doesn't exist, they will use another thing for their corruption. Bitcoin can lead to corruption as there's still a lot of greedy people in this world.
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
Noo bitcoin is not a physical currency that can lead country to be corrupt bitcoin is digital currency where you can only use this through internet you can deposit money from bitcoin by converting it. Bitcoin is now popular into more country who using this for trading bitcoin is new technology that people can use.
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
I don't think we will ever get there
It is like demanding from Bill Gates to open the code of Windows. If I'm not mistaken, Microsoft did actually allow some government agencies evaluating the security of operating systems to look at the Windows codes (Windows 2000, specifically), but this is nowhere close to open-sourcing Windows. The same holds true for any other company and government. Obviously, they are afraid to get caught or just reveal their incompetence
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.
@speem28 you should see the opposite... Given that bitcoin is a transparent crypto-currency, and that all transactions are public, why nobody ever thought to use the btc to fight the misappropriation of public funds and so that the citizens can see exactly how their taxes are being used? 
This is the way it should be. Public labeled addresses, signed transactions explaining what are these funds for, what and who are you paying. In public work sometimes budgets are surpassed by an excess of expenditure on material, an expense that is not explained later. With this technology that would not happen because there would be no hidden overpayments
That would be too easy
If they really wanted to hide excessive expenditures (for example, to provide payoffs), they would just use another wallet (or even another payment channel, e.g. via cash). But even there are overpayments, there should also be a mechanism to disclose the reasons for overpaying. And even if such mechanism is in place, how would you know if this is a real overpayment (for example, due to some miscalculations at the planning stage) or an illegal payoff to a subcontractor?
I think the receiving addresses involved in public work should be public labeled addresses too so everybody could know to whom the address belongs. Payments should be clearly specified and explained and bills should be attached to clarify the reason for the payment. That way later it would be possible to verify if that payment was justified because there was a miscalculation or if an expense was made without clear justification and could be suspect.
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.
@speem28 you should see the opposite... Given that bitcoin is a transparent crypto-currency, and that all transactions are public, why nobody ever thought to use the btc to fight the misappropriation of public funds and so that the citizens can see exactly how their taxes are being used?
This is the way it should be. Public labeled addresses, signed transactions explaining what are these funds for, what and who are you paying. In public work sometimes budgets are surpassed by an excess of expenditure on material, an expense that is not explained later. With this technology that would not happen because there would be no hidden overpayments
That would be too easy
If they really wanted to hide excessive expenditures (for example, to provide payoffs), they would just use another wallet (or even another payment channel, e.g. via cash). But even there are overpayments, there should also be a mechanism to disclose the reasons for overpaying. And even if such mechanism is in place, how would you know if this is a real overpayment (for example, due to some miscalculations at the planning stage) or an illegal payoff to a subcontractor?
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.
@speem28 you should see the opposite... Given that bitcoin is a transparent crypto-currency, and that all transactions are public, why nobody ever thought to use the btc to fight the misappropriation of public funds and so that the citizens can see exactly how their taxes are being used?
This is the way it should be. Public labeled addresses, signed transactions explaining what are these funds for, what and who are you paying. In public work sometimes budgets are surpassed by an excess of expenditure on material, an expense that is not explained later. With this technology that would not happen because there would be no hidden overpayments.
@speem28 you should see the opposite... Given that bitcoin is a transparent crypto-currency, and that all transactions are public, why nobody ever thought to use the btc to fight the misappropriation of public funds and so that the citizens can see exactly how their taxes are being used?
I'm sure that bitcoin has long been used in corruption, but few people know about it because of the novelty of this currency. Perhaps he has some advantages in this business over paper money.
I agree, starting from silkroad until now. Bitcoin had been used to corrupt peoples mind from bribing and paying people to spread false news and false information regarding something for personal intentions. Bitcoin being money is no difference than any other money in the world. They all can lead to corruption.
Money that will lead to corruption
I'm sure that bitcoin has long been used in corruption, but few people know about it because of the novelty of this currency. Perhaps he has some advantages in this business over paper money.
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