Topic: can Bitcoin set a corrupted country free? (Read 592 times)

Bitcoin's transparency could help reduce corruption by making it easier for everyone to see how funds are generated and spent. But for this to work, you'd need strong governance to ensure the benefits actually reach the people. Bitcoin could help, but it won't magically solve the deeper issues of corruption on its own

Some people thin about the possibilities since it somehow set freedom for people who use it in some ways. But if a country will regulate bitcoin then for sure there would be a taxation will happen so by that cases if corrupt officials is really doing this even bitcoin doesn't exist on their country well they may have now another option to get some funds on other sources. So what I think bitcoin regulation will make their wallet fat again since corrupt officials will remain corrupt. For sure there will be no change of hearts just because they like the technology, but rather they would take advantage again for their personal gain. Corruption will never stop if leaders is a bad leader so people should not hope for changes since they can only make their country out of corruption if they eliminate those greedy guys and elect honest leaders.

Bitcoin can't set a corrupted country free. My country which is occupied by oligarch, is a good example. With the help of our government, BitFury opened a Bitcoin datacenter in our country but our oligarch owns some part of it. Exclusively for BitFury, our government created a tax-free zone. When BitFury imports anything, they don't pay taxes, they also don't pay taxes on their profit, it's a heaven on earth for them. They get the cheapest electricity rates, their rate is half of what a household pays for electricity.
Opening of Bitcoin mining datacenter and tax-free zone for BitFury resulted in increased electricity prices for us, citizens and residents. Instead of improving anything, it caused worse in terms of the economy.

If your country is corupt, mining is only going to make life expensive for an average citizen. Nothing will be transparent, don't believe that.

Unfortunately, Bitcoin and similar crypto-pluses will not be able to ensure a complete revolution in the economy when the country is in the situation you described. Because ultimately, we withdraw cryptocurrencies into Fiat through cards or bank transfers, and the state can easily control this method of withdrawing money. And take control of everyone who withdraws this way. Nevertheless, among the advantages is that we independently earn and store, and also send our crypto.

Any form that is prohibited by the government is illegal and that means we are violating and learning corrupt practices.
Although we see bitcoin as a concept of freedom in terms of achieving better financial capabilities.
I agree with you that there is no need to associate bitcoin with the freedom of a corrupted country because bitcoin is independent and can be used by every individual.

I don't think it is bitcoin's job to eliminate corruption because the problem is actually the people who do it.
Corruption has become a much bigger problem and is difficult to eliminate if the people in it have no ethics and no shame.
Why does corruption still continue to occur, it is because people lose the essence of the position they have.

Definitely not. Bitcoin is simply a digital currency or asset and it won't stop a long existing economic problem same goes with inflation although it is not mentioned in this discussion. Corruption is an output of authority's wrongdoings. As long as such leaders are in the administration then nothing will change. If ever this thing is possible through Bitcoin then it should have been used to do so, early. As long as there is a will for corrupt leaders then such thing will be continuous.
Decemtralization and anonymity are the biggest advantages of Bitcoin over any digital currency so how come informations would be easily tracked with blockchain? It's definitely the total opposite of cryptocurrency's capabilities. Same reason why this industry is even prone to money laundering schemes.

We cannot expect anything good from countries that are heavily involved in corruption. Because they will turn that good thing into bad through corruption. Anything can be done in favor of the oppressed country. Bitcoin mining will lead corrupt people in those countries to buy mining software and hardware devices because they can steal large sums of money. They may also provide different information about the mined bitcoins since the general public will not have the opportunity to know about the mined bitcoins. Moreover, even if there are opportunities, they will not want to disclose them to the public, citing security concerns. From mixer platforms they will make those bitcoins more obscure which will help them enjoy that money. You may want to use your own power energy with a good intention but it is not possible to do it in a corrupted country which can increase loss rather than gain.

Bitcoin can help control corruption and fraudulent actions because it will be easy to get any information you want to get at any time from the blockchain,cross checking ,also help to know how money are being spent efficiently and for the right purpose, Implementation and how development can be increased within the country, because any transaction made on the block is recorded and can't be tempered,if any is tempered means altering all existing block.
Transparent ,one can use blockchain to track how live transfer and how cryptocurrency are being transferred and used having an edge protection over inflation because of its hard cap on every produced coin that will be created . It can't be monopolized by anyone or government .

Mining bitcoin from country without the government approval is illegal and still it's a corruption. How do you judge your corruption from people, is it by only taking money or looting from the poor people around you?
Corruption is when you are doing what is not good and yet you know that it's something that could benefits the country and you are doing it alone is still corruption. Nevertheless, bitcoin can't eliminate or erase corruption from a country if is not financially issues.

The advantage of BTC blockchain technology, is to allow transparency and privacy as you decide. So if a wallet only send funds to indentified addresses, it will be easy for everyone to monitor the funds and to see where they go and how they are used. If it's used this way, it prevents corruption and embezzlement. But if the organization owning the funds make too much transactions to unknown addresses, it quickly becomes impossible to track financial flows and to guess the actual balance of the entity.

After all Bitcoin is just a tool which can be used for the good or evil, depending who is behind it. If the local administration is corrupt, it's not Bitcoin which is going to change their character. Rather, they will just use Bitcoin for their corrupt goals and the population won't see any improvements at all.

On the other hand, everything is not lost yet. By being able to use Bitcoin, you have access to a more decentralized mean of transacting money, investing your funds and storing it for the future. Therefore, the bad consequences and impacts of the corrupt government over your life will be reduced, so BTC gives you more chances of thriving and overcoming the opression of the government on long run.

Bitcoin helps individuals on their private lives, but doesn't make much difference on collective instances, because thinking on groups of people, especially the largest ones, it's much more complex and there are many factors to influence the outcomes.

This is something that people have never wondered or cared about. Every time people encounter difficulties, they begin to complain, criticize, and curse the government heavily while they have no idea how difficult it is to run a country. I do not deny that corruption in politics is a terrible thing and my country is also facing it, but solving it is not as simple as we think.

Even developed countries with leading economies such as the US, Europe, and China also have corruption and cannot completely eliminate it. Therefore, it is not difficult for us to understand that poor countries will be more corrupt.

I am pessimistic that there will be no solution to eliminate corruption. Greed is human nature, what guarantees that if we are politicians we will never be corrupt?
https://www.theguardian.com/world/article/2024/jul/26/russia-arrests-former-deputy-defence-minister-dmitry-bulgakov-corruption-charges

It's not a freedom fighter man lol. And no it's also not a magical solution that would fix corruption. Even implementing Bitcoin as a legal tender would probably not completely eliminate corruption in the government. Corruption doesn't only stem from being transparent, there's probably a lot of ways and methods where they can still get away with their corrupt ways, both in legal and illegal ways. It's just seeped in there, in humanity itself. It's not for a reason that even in the past after a rebellion was successful, corrupt officials would still pop up a few years later.

Running a country ain't that simple.

El Salvador and Central African Republic have both accepted bitcoin as a legal tender in their respective countries. I would assumed everyone on the forum knows this as it was one of the highlights of 2021.

Let’s not try to make Bitcoin what it is not. Bitcoin cannot change the corrupt nature of man. A person who is corrupt will always find a means to steal from others either through fiat, metals or cryptocurrency.

I feel we are of the same nation and I’ll tell you this,

It’s simply politics! They call it a dirty game and having the life’s of many govern by a dirty game, you could always expect dirt to be dished out for us all.

That aside, Bitcoin is a finance revolution and that have got little to do with how a country is run, how the people is being govern and how human character might be affected. I say this with particular reference to the politicians and the corrupt minds of leaders haven’t assumed their office.
Bitcoin doesn’t do nothing to a selfish interest, it’s not some moral teacher but, it only creates a means to be financially liberated in the sense that, you don’t get your finances watched or controlled by any entity but yourself.

Are you sure with what you said in your last statement? El Salvador is the first sovereign nation to make bitcoin as legal tender. And today, Central African Republic followed the footsteps of El Salvador.

On the goal of having bitcoin to influence a corrupted country, I guess, this is quite a hard feat. Though transparency is one of the features that you can get from using bitcoin currency, but people can still find a way around on how they can avoid such liability. For now, there are other aspects that a government can alter in terms of how they are dealing with its people to lessen the corruption in their country, if not totally eradicating such long-running sickness in most countries.

Diversifying Electricity into Bitcoin mining is not a bad idea, but proper management is one thing that can kill such project if a Bitcoin farm is established by government and yet there are corrupt people placed in charge, just as how those who were placed in charge of Electricity distribution in your country were corrupt. Because despite that Bitcoin transaction is transparent, but if it's converted into fiat, it fails to be transparent anymore. But just that by such project by government, it will literally increase the adoption of Bitcoin by citizens of such country

Since it's a public fund, it won't be bad to be transparent with citizens, as that will build trust to whoever is in charge of government that period.

I agreed with what you said but it should have been a concept of Bitcoin and not really Bitcoin per say. I'm not sure an economy can survive with Bitcoin as a currency but might be a good way to save for reserve under some diversification but currency will be bad. How do you think the economy would react if they have -15% value of their currency, almost everyone in the country will be frustrated seeing how their investment has devalue or money can't buy what they want.

Perhaps if the government can implement the ways of Bitcoin by making every transaction on the economy transparent to see where every penny spent will be going, this will reduce corruption as possible but they wouldn't allow and they will give you excused of privacy because some money aren't meant to be public observation and this is the reason why people steal money from their positions. I'm not sure if they will ever going to adopt this kind of method for transparent transaction.

The way that I know is maybe before they push a transaction in the chain, they already make a negotiation? Another that I think about is they won't agree to use Bitcoin and Blockchain. There are rich countries in the world. I think they won't achieve this status if they are corrupt. A corrupt politician can steal money and I think they can do that through the taxes that we pay. Taxes are a huge amount of money combined, so this would be enough for them plus I don't know if there are any other ways for them to do it.

This answers your question about system. With that being said, I think that most systems are still doing well but since tax plays a major role for the development of the economy or its economy, then the country won't still do well if in case its politicians are corrupt and pocket the tax money for their own benefit.

According to your question about Bitcoin being able to set a country free from corruption, the answer is no; it cannot. In a country, there are usually different commissioners (holding different positions) and other sub-bodies that are appointed by the presidency, and some of these bodies are so corrupt that they could be the reason why something will not work properly the way it's supposed to, because after they take orders from the president, they will just take bribes from people and do things the way they please.

So, what I am saying in essence is that Bitcoin cannot set a corrupt country free, and it is difficult to eliminate corruption completely. 

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.

It is not a new idea from El Salvador to Bhutan, correct me if there are more countries are doing this. Because it is not an original idea, it is not a genius idea but I don't deny that it is a good one.

The challenge is from an idea to an action, it's a very long way and if you are not a person with powerful position to make decision, are not a decision-maker, policy-maker, you nearly won't be able to change anything. Especially here, we are discussing about a big national policy, an initiative that needs to be lift up for consideration and put down to backlog by government.

Good luck turning a highly corrupted monster into a Transparent Government.  In fact, good luck even contemplating that and not finding yourself mysteriously dead or disappeared.  Corrupt Governments are just that and would do any thing to preserve their power.  Turning them upside down, revealing all the bad stuff, exposing all those bad names, it all implies putting the Safety of yourself and your own family and friends at risk.

I wish it was that easy and simple to stop corruption.  It is not.

This idea is pure genius. Pure genius. Create something fresh and better with what you have. Better means harder to corrupt. Everything is visible with Bitcoin. Nobody hides.

Corruption's a nasty problem. An age-old issue. Bitcoin is a positive move. Big step. Transparent. Its accountable. Its a resource the government may utilise to invest in the people and country.

But this aint a magic solution. This is just the start. We need oversight. We need transparency. We need to make sure those Bitcoin profits are going back into the community, where they belong. This is about improving the future. A future with less corruption, more accountability, and national growth.

Corruption is a social problem and when it’s deep rooted in the system it cannot be fixed so easily. For example, let’s assume your idea is heard and your country starts a Bitcoin mining farm. What’s going to stop them from stealing the money made from the mining business?

I just reacted to a similar topic not too long ago and I think the answer is also relevant here.

It is a very big IF condition.

I know one nation is doing this, Bhutan.

Bhutan to boost Bitcoin mining power by 500% ahead of halving.

Your country can do the same but with their not friendly stance on Bitcoin, it's unrealistic policy change in near future. They must be Bitcoin friendly first before they can direct your national abundant electricity to Bitcoin mining.

I will say that corruption is an integral part of politics and government, and greed is human nature. So as long as we still don't have a solution to curb human greed, even if we use bitcoin, we will never be able to prevent corruption. Once politicians want to be corrupt, they will always find a way and we will never know what they are doing behind our backs. What we see now is just a part of the surface, I believe they are more corrupt than we imagine.

Corruption, poverty...are painful problems that have existed for thousands of years and no one has been able to completely solve this problem, it is naive to think that bitcoin can solve everything.

Corrupted country free—remains a dream...
Why? Corruption is already a disease among most government officials and has already escalated. Using bitcoin gives no excuse for these corrupt people to stop; it never happens in reality, as they will find a way to fulfill it. 

The use of bitcoin has an impact on the currency system of the country, but it can't stop corruption. It has never been made for such a thing, nor can it be a solution because this problem is not about the currency we use but the evil intentions of the leaders. 

Nothing will happen if you still have the same set of politicians where their main priority is to feed their selves and try to corrupt your countries resources as many as they can. Bitcoin maybe their target that's why don't hope for any changes even if bitcoin is in discussions since for sure rampant corruption will still happen. Also you can't convert anything or influence people to do mining since this is hard to do especially if they don't know how to do it or maybe people will just not interested about it.

But if people would unite together to find politician which have aim for progress and don't have any intention to do corruption then maybe this is the solution on your country. Its hard to see a corruption free country and I guess this activities made by those greedy people in government most likely won't stop.

It would be incredibly hard to convince every citizen that Bitcoin Mining does not do harm to the environment.  Even today, even after it has been debunked many times over and over again, I still find it difficult to have a proper conversation with someone about this.  They all think and truly believe Bitcoin is the cause of all of the problems in this World.

So for now, do not lose hope but find a strategy if you truly want this to happen.  Do you want to become a President just to redirect all that energy to Bitcoin Mining?  Is this a real priority in your country?  Would people really be happy if this was announced?  And, last but not least.  Is your Government corrupted really badly?  Because Politics is no easy game, and it is often that you have to make a lot of compromises, particularly morally, to reach the highest point of the cliff.

The real issue here ain't that fiat transactions can't be traced - that just provides cover for crooked politicians and fatcats to line their pockets however they please.  Bitcoin might lay everything out in the open, but that don't stop backroom deals if the powers that be look the other way and  what your country needs is to come down hard on corruption first - sniff out the rats and throw them to jail.  Transparency helps regular folks keep tabs on where the money's going, but it don't replace good old-fashioned accountability.

Electricity will be spend in ways more than just bitcoin mining. That what is spent in mining itself might get marked properly to avoid money laundering but what about the rest of it?

Corruption can happen in many forms and it is a basic human nature that you cannot possibly wipe out but have to learn to live with.

Basically a country cannot run just like that. You think you are being the president of such a country, who will vote for you? You will eventually find it difficult to sustain your power and will have to move to bribes yourself.

Corruption can never be wiped out of the face of any government. That's one thing we need to know: it can only be reduced based on the people in power and if they don't allow their greed to control them. 
 
Even if Bitcoin is introduced, everything can be manipulated, starting with funds diversifying, where some wallets won't be made known to the public; only the ones they want to give accounts for will be visible for transparent records. 

David Cameron once said two countries are fantastically corrupt and that's the truth. Even if you trace how much Bitcoin was mined, these corrupt government officials will still fraudulently manipulate how the money is spent. The amount used in buying and maintaining the ASIC will be inflated. Don't also forget that there are some privacy tools such as mixers that can make transaction tracing difficult. Even if it is clear that money from the investment has been siphoned those people indicted will be freed by the court if they can bribe the judge. Bitcoin will not stop corruption even if it is adopted as a legal tender of a nation. It's just a currency that can be used by both positive and negative actors.

Well it's the same in my country, we distribute Electricity to different countries whereas due to corruption from our Elites our dear country Is failing.
The question of if Bitcoin can really set a corrupt country free.
Maybe yes or maybe No
Bitcoin is develop in such a way that all transactions are traceable, public and permanently stored in the Bitcoin network so it surely would reduce the level of corruption in a country such as yours .
But nevertheless your still cannot change the corrupt nature of man.

No. Bitcoin mining isn't transparent and the citizens can't actually know how much you've mined vs how much is actually disbursed to the government. This data can easily be inflated if needed, since there isn't a good way for people to monitor, or for people to be techsavvy enough to be able to audit and take the government accountable. Besides, even with excess electricity, there are plenty of resource constraints that should be addressed.

Corruption cannot be solved if there is no accountability. Having no mechanism to weed corruption out of your system means that it will always run rampant. In this sense, even if your country were to hypothetically, be able to get a Bitcoin mine going and have a stable flow of Bitcoin from mining, it doesn't mean there isn't avenues for corruption to take place. Setting up the farm costs money, generation of electricity costs money, ASICs costs money, etc. Whenever there's money, there's probably ways for corrupted officials to siphon money out of them.

Rather than tackling this, I find that you should focus on increasing your GDP and weeding out corruption, if you've got a chance to make a difference. Bitcoin farms are hardly going to make a dent on your GDP.

Your country will benefit more if the electricity is chanelled to Bitcoin mining and there is accountability in the process but I doubt the government of the day will chose that option because you already sited corruption as a factor in this which means there are people benefitting from the status quo. In my country, we are also facing similar situation whereby we sell electricity to other countries whereas we cannot boast of 15hrs of electricity supply in our country amidst high tariffs.  

The only way to change the system is if you become the president. Thank way you can bring sanity into the polity but the question is, will you give it a thought?

While growing up, I was thinking that corruption was perculiar to my country but through social media like X, I have learnt that corruption is a global problem and even the self-righteos countries are not exempted; just that some country have acceptable level of corruption and still have institutions that can checkmate anyone who crosses those red lines.

It is possible to stop corruption and instill transparency in public service but it will take someone with huge political will to do that. It must also be that the person is clean else he will be blackmailed and forced to adjust his stand to favor the unseen forces that runs the nations of the world.

Short answer, corruption is still possible. For example, whether the money actually used to buy ASIC and how much ASIC actually "pointed" to address owned by government and known to the citizen. Don't expect Bitcoin can solve non-technological problem.

My country is capable of feeding electricity to another country and this have been going on for many years, yet we are struggling due to bad economy, I have always dream of the advantage that Bitcoin can bring to my country if I become a president or of the president can divert that electricity to Bitcoin mining instead, since I am even hearing that the country that is enjoying the excess electricity isn't even paying up, they are owing alot, but since the corruption is too big to defeat they can still cheat if they use the electricity to mine Bitcoin.

I had this discuss with some friends a while ago and one is standing on the fact that this is the way forward, he claimed that it will be transparent and every citizens of the country will know how many Bitcoin the country is generating, where the fund is going and how its been spend since Bitcoin is traceable, I don't want to argue with him so I decide to bring this on here, do you think it will work for a country to be transparent about how many Bitcoin they generate or do you think that corrupiotn will still take over this idea?