Topic: can Bitcoin set a corrupted country free? - page 2. (Read 542 times)

A corrupt nation is a corrupt one because its corrupt, suddenly they aren't going to go up and say "lets use crypto to stop corruption", they are corrupt, so they will find ways to make it continue, not ways to stop it. People could "request" them to be less corrupt, and they can request methods, including using blockchain/crypto to make sure that all the dime is there to see. But that doesn't mean that we are going to end up with governments accepting it, they are going to keep doing it whatever way they want. This is why I highly suggest that we stop trying to make bad people turn into good guys, but instead try to find good guys who deserve to be in position of power instead.

From my observation in cryptocurrency I believe that there is no country that can be corrupt free through a cryptocurrency most especially in Bitcoin so I know quite well that most of people who invest in Bitcoin is afraid of government intervention and also a manual business that is why majority of persons find bitcoin very straightforward to partner with so I believe that this is one of the concept that makes many people to involve their Lifeline Bitcoin it is not that bitcoin can make a corrupt country to be free from corruption because investing in Bitcoin is a personal investment is not a massive investment and the many countries kick against the development of Bitcoin and till date no country has accepted a bitcoin as a legal tender

If your country is corrupted, what makes you think they won't do corruption if they start mining Bitcoin? A government can or will never be transparent about such things, they will never let people know how much money they have or how much they are generating from a certain thing, this can only be done if the government is completely free of corruption and there are no officials or authorities that are always looking to fill their pockets.

I also wonder why they are feeding electricity to the other country if they are not getting anything in return, that is not how international trades work as far as I know, and some laws protect countries from such things unless your country and the other country are sanctioned and are doing it going against the sanctions put over them.

If the country is sanctioned and are allowed to make international trade with nations, they should appeal to the UN and have their case looked at because they are providing electricity but still getting nothing in return to better their economy.

Are you asking if bitcoin can eliminate corruption? No, bitcoin cannot eliminate corruption, cannot help eradicate poverty, cannot help world peace...We should stop exaggerating too much about bitcoin because after all it is just a currency. It was not created to do those things, nor is it capable of doing so.

Corruption is a problem that has existed in politics for hundreds of years and there is nothing we can do to change it. So let's not waste time talking about it but instead, we should find ways so that the corruption of politicians does not affect our lives. Bitcoin can be a solution in this case if you know how to make good use of it for yourself.

Using large electrical resources to mine bitcoin is certainly a very good idea. Because of course this will help increase your country's income. But talking about your country distributing electricity to other countries and there is an element of corruption in it. I think this will be a little difficult to solve quickly. Because corruption talks about a person's self-awareness, in essence if a corruptor is not aware of his mistakes, then he will definitely continue to commit corruption. However, if your country implements electricity payments using bitcoin, perhaps this will prevent corruption a little. Because bitcoin transactions are very transparent and everyone can see the transactions. So with this, corruptors or people who are in arrears on electricity will definitely think twice about doing this.

However, you need to know that people who commit corruption are very difficult to stop. So, for example, Bitcoin is used as a means of electricity payment transactions in your country. But there are definitely individuals who can trick them into continuing to commit corruption. So basically Bitcoin will not be able to stop acts of corruption completely. Because in my opinion, to stop corruption it must be done through moral improvement. This is because bad moral factors are the main trigger for the emergence of new corruptors in every generation in any country.

No.

Technology cannot root out corruption. Corruption is a social disease, a mindset, not a technological problem that needs to be overcome.

You would need to implement robust checks and balances at every level of society in order to punish corruption. You can't completely eliminate it, but you can reduce it to some extent.

And I guess that would be the best thing to do, right?

personally, I think people  are already expecting even more than the expected from bitcoin and that's wrong
I stand to agree with you that, people shouldn't expect bjtcoin solve non-technological problems and there are technological problems that we shouldn't  expect bitcoin to even solve.

@op, I think it will be best that you move this thread to the local board since this is a local incidence and as such, the local board would be the right place for you to get all the desired answers to your questions since they can relate more better with the situation.

It depends a lot on which country the op is referring to, but normally, it is not up to the president to decide how the country's resources like electricity surplus are being used. This is likely a matter of the Ministry of Economy or something similar to it.
Selling electricity is not a bad practice, as it both gives the country some money and gives another country something they truly need. My country is currently in great need of electricity import, and that probably affects my perspective on this activity.
Corruption is a big societal challenge, and no technology or a single simple solution can tackle it. I believe that fighting corruption requires a comprehensive approach that combines harsh punishment for large-scale corruption, fostering of anti-corruption attitude at schools and universities, and transparency initiatives (Bitcoin can be a part of it, but there should also be open registries, tenders, etc.).

Bitcoin is not a solution to corruption. What if the corrupted government officials steal the BTC, that was mined via the electricity produced by your country's power plants? The blockchain is transparent, but that doesn't mean that all the people in your country know how it works.
What if the corrupted government officials move the mined BTC thru a mixer or what if they start mining Monero?
Bitcoin/crypto isn't a solution to a bad economy. Improving the economy would require a lot of investments in the infrastructure and the education system. A better economy also needs less corruption, less bureaucracy and a better judicial system.

Even if your country has 1000 Bitcoin mining it will not save anything, what saves it is how your country's government is able to manage limited resources and work together to build their country into a better country. Because basically the key to a country being able to progress is how its officials and citizens behave. If the country is still corrupt, that is just a lie and your country will remain the same. So change must start from the people and the government, only then can your country progress.

Bitcoin will not be able to solve the problem of corruption and Bitcoin is also unable to solve government problems.
Bitcoin is independent and he does not need groups or the government in relation.
And vice versa for citizens who know and how much Bitcoin is produced by the state, and that will not affect humans if they are not involved in investment or trade independently.

Bitcoin will be very useful and able to solve the problems of each individual when they take an approach to running investment and trading.
Because that is that humans independently can improve financial abilities for the better.

Transparency can definitely lessen the corruption in a country but remember that evil finds a way.

Corrupt politicians will always find a way to steal from the masses and hide it well. I don’t think there is a country that is totally void of corruption but as long as most of the system is not rotten then I believe a country can function well and even be better.

At the end of the day no matter how transparent Bitcoin is, it all depends on the people who are operating.  With the knowledge about the Bitcoin system and the wickedness of people who are in the government, they can still cheat people. How?  Those in the government can create a project that requires overly priced budgets.  They can also hire ghost employees and many more.  The only fund traceable are those funds that were declared, what about the funds that is not disclosed to the public?

So I believe using Bitcoin can lessen the occurrence of corruption but it will not totally eliminate corruption in a country because corruption does not only happen in the financial transactions but also in the implementation of the law.

Corruption is a disease that will continue to grow even if they use blockchain technology to mitigate it. what needs to be fixed is not the method, but but the morals of the nation itself.

If you become president in your country, maybe the system you want to do will not work as you want even though you are a president in a presidential system.
The most likely thing you will do as a president who is aware of the potential of natural resource wealth is to do your wishes secretly. For example, excess electricity, using it for Bitcoin mining will also not be maximized considering the few who will sue.

As people say, it is too difficult if corruption is still deeply rooted.

Short answer to the op title question, no.

It would be a good idea if a country will use bitcoin to generate income and when a country adapt crypto then it is also for crypto since there will be more people who will use cryptocurrencies such as bitcoin and ethereum. As we all know, the more crypto is used by people then the more it is exposed to people especially those who didn't know about cryptocurrency or those who didn't believe in crypto.

Trying to use Bitcoin to generate income for the country is such a great and innovative idea but making it blend in to the Treasury system of any government won't be an easy task following the decentralized nature of Bitcoin while most of the nations financial management operates on a centralized platforms, it's really going to take a whole lot and many interest Will be challenged.

Don't depend on what your country gives, depend on what you can achieve on your own without the help of anyone, the same way you can make use of bitcoin without considering whether the government support for its use or not, because you realized the importance of what bitcoin can do towards the realization of your dreams, we see corruption because we are all under a centralized system and this controls all of human affairs, but bitcoin will make you realize that you need to be free from depending on government before you can achieve a success in life.

Very impossible to point out a corrupt free country, while most can be excessively done which will heavily impose a threat to the economy. Answering your question, Bitcoin can not help erase corruption from your country, it can only help the economy if it is undisputedly accepted in the country. The first step would be to embrace Bitcoin, using its Blockchain transparency to keep record would be effective but knowing that a corrupt government can also smuggle out funds and attach with lame reasons. Another bigger step would be to eliminate this corrupt sets of government then further adoption can take place.

Having heard your story about the irrational use ("selling" for free) of electricity, I had the following thought. And really, why couldn’t governments long ago think of using this electricity (any excess) for bitcoin consumption? Firstly, this is due to bureaucracy, when bitcoin supporters are not allowed to implement such innovative ideas by other members of governments (who don't see the potential of bitcoin). And secondly, in countries with a shortage of electricity, problems will arise, because if it turns out to be more profitable to direct electrical resources to the extraction of electricity, then where will such countries get the missing electricity? This will affect (negative) the livelihoods of ordinary people from the neighboring country.

The idea of bitcoin implies transparency of all information related to this. Any rule of law state must certainly be transparent with information about bitcoins (government-controlled). But I guess it's because of this that most governments don't like bitcoin and its transparency. Corruption will interfere with the adoption of bitcoin at the government level because bitcoin is a kind of antagonist to this.