Can Bitcoin also lead to corruption ? - page 95.

BCTBF

sr. member

Activity: 560

Merit: 257

Quote from: mindrust on April 11, 2017, 03:18:55 PM

What kind of corruptions you are talking about? Bribes? Money laundering? Insider trading? Every single one of those existed before bitcoin and they will exist after it. If bitcoin made being corrupted easier, so what? Internet also made so many crimes possible. People even can hire hitmen from the internet. Do we blame the internet for that? No. Every technological advancement comes with pros&cons.

correct, crime is everywhere, but I think to make corruption in the form of btc was minimal happen, because I think btc has a very transparent transactions, might be the kind of corruption such as money laundering, corruption referred to by op.

agustina2

legendary

Activity: 2436

Merit: 1008

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

It's obvious that bitcoin has value so no questions if ever it can be linked to any illegal activities since no doubt that using bitcoin gives comfortability to it's user and we are living proof that. Even salt back in ancient times used as part of illegal activities since it was considered as gold.

We will not have a currency that is not prone to illegal activities. Illegal activities are already part in our money system since the beginning of financial transactions.

chaser15

legendary

Activity: 2688

Merit: 1065

Undeads.com - P2E Runner Game

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?

You just said it, bitcoin is money so therefore it was included in the system of corruption. Whatever the kinds, ways or any related term to that, bitcoin can be an instrument to lead corruption everywhere.

Always remember that all illegal activities that fiat is included is similar to what bitcoin can be associated of. It's the usual and expected thing to happen in bitcoin. To covered that activities, same principle to fiat money system are applied that will include prevention.

alani123

legendary

Activity: 2422

Merit: 1451

Leading Crypto Sports Betting & Casino Platform

Wealth can very much lead to corruption. Provided that Bitcoin favors anonymity it is quite easy for people that are not ethical to slip into corrupted or at least non legal practices.

mindrust

legendary

Activity: 3276

Merit: 2442

What kind of corruptions you are talking about? Bribes? Money laundering? Insider trading? Every single one of those existed before bitcoin and they will exist after it. If bitcoin made being corrupted easier, so what? Internet also made so many crimes possible. People even can hire hitmen from the internet. Do we blame the internet for that? No. Every technological advancement comes with pros&cons.

SvenBomvolen

hero member

Activity: 588

Merit: 500

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.

Nahl

legendary

Activity: 1652

Merit: 1000

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

Potato Chips

hero member

Activity: 2786

Merit: 902

yesssir! 🫡

You just said it yourself. Because of money corruption can always happen as not all politicians are as nice as they are appear on some people or the

voters rather. In the end people will still prioritize themselves and their preferred persons over strangers. Yah it is easy to track their transactions using

the blockchain explorer but most people uses multiple addresses and is still generating so how can you know if that particular address is theirs? . After

that they can just buy a hardware wallet, store it in a box and just bury it somewhere. The problem is hiding the exchange of your fiat to bitcoin.

gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

Corruption is to Bitcoin like air is to a bird. It's the natural environment. Greed, lack of regulation, possible anonymity, irreversible transactions. It's a perfect formula.

As an actual ledger it can't be corrupted and that may well help reduce overall corruption elsewhere. Many things surrounding it carry a fairly nasty smell.

speem28

sr. member

Activity: 546

Merit: 255

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?

Topic: Can Bitcoin also lead to corruption ? - page 95. (Read 51258 times)