Topic: Do you think that bitcoin can reduce corruption? - page 22. (Read 2604 times)

I think the opposite is true, as we know that bitcoin embraces a decentralized system so that when people store bitcoin on web wallet or offline wallet then all the money he keep will not be tracked by anyone.

It is a good currency to be a "new age's money" but the problem here is that bitcoin is not that developed to have that title. Bitcoin for me, despite of it's price and popularity, it is still on the verge of being developed and upgraded. There are still some flaws of using bitcoin especially these days that bitcoin has a lot of congestion in the network though because of bitcoin, we can evade ourselves from gruesome and heavy taxes.

I would very much like to have bitcoin or cryptos helping reduce corruption. This is a map of the most corrupt countries in 2017.
http://uk.businessinsider.com/map-of-worlds-most-corrupt-countries-2017-1

You can see how many of these countries have two characteristics:

a) Large percentage of unbanked population
b) Risk for business as well as for individuals.

The corruption itself cannot be addressed by means of a different currency, however it is possible that the population chooses to use a different coin, I am thinking of Nigeria, and with that contains the government lack of principles and mismanagement of the economic system.

It can somehow. Since bitcoin is not something life the Fiat system which can be taken secretly or transacted without anyone knowing it, it is not the same. Since bitcoin is dependent on the internet, every transaction is recorded or can be found out. This is why it is imperative to make bitcoin the new age's money.

Because Bitcoin is a digital currency there is a posibilities that it can stop corrution because it is electronics we can easily trace the money trail. In case of any investagation we can trace to whom this coin goes and where it came from, because there is a hope that this can be used for graph and corruption.

Yes, can reduce corruption, because bitcoin can not be just steal by anyone unlike money paper which they can just easily  put it in thier pocket. But bitcoin and other cryptocurrencies are access in the computer which has blockchain network that can efficiently monitor, track, trace or record in the data the every transaction made  (thats according on my own understanding).. It can be steal maybe if someone is being transparent to other people like sharing his/her own password. 😃

 I think bitcoin cant reduce bitcoin. Because bitcoin didnt involved any government assets. But the government can control the taxes and the taxes of bitcoin. They can mabupulate the economy. So i think bitcoin cant help reduce corruption in a country

If they used it in good way butcoin can reduce corruption because right now government consider bitcoin to be legal in some other country. bitcoin is a transparent and safe so they can no longer do corruption.

Of course, that's why some governments consider bitcoin to be illegal. This is because, by using bitcoin transactions done in accordance with what is listed without any addition or cost reduction. So the corrupt governments are afraid of bitcoin, because they can no longer do the corruption they usually do. I'm just sad how many people's money is being corrupted by my country's government, knowing many people are using bitcoin, the government is panicking and spreading the word that bitcoin is illegal.

The best thing about bitcoin and blockchain technology is that whatever is once done in this world, it cannot be undone in anyway. You cannot remove the traces of your transitions which is possible when you do this through banks. Banks are involved in corruption because they help people transferring money in illegal accounts. Bitcoin if made the mainstream mode of payment and currency, no banks are going to handle it. There is less interference of authorities in transactions, so it would reduce corruption.

i dont' know
in other hand blockchain can provide transparent traffic transaction but because bitcoin is decentralized so no one know who had being using transaction
it depend on the goverment itself if they make some system when someone want to exchange their cash into bitcoin

Yes but we cannot blame bitcoin for it because it is the greed of the people that they are using bitcoin to get corrupt. It is the greed of people that they are using bitcoin to take from innocent people. And using for their money to increase it, future of bitcoin is bright people are investing right now so it will increase the price of bitcoin for new people, government politicians are using bitcoin for corruption because bitcoin is anonymous so it can be the reason as no one can know about the sender and the accepted of the bitcoin.

Of course, the crypto currency has many advantages, in particular blockhain technology, which can positively influence the state system, but I think that those people who want to take a bribe - they will take it in any way.

Its jot just your county, mine too, and many others. Look around what ever you wish to do you need money to pay, and with more money you can pay everyone and only like that things can run smoothly. In this case I don't know about about bitcoin, its decentralized but how much? We need open and decentralized network, we need transparency, we need combination of this two but to be safe from this parties interfering. Can bitcoin do this for us? Most of us saw that 'bitcoin be your own bank with cheap transactions' but what happened last year shakes my believes. Blockchain is good, but will bitcoin be the one that can save people from corruption or some other altcoin or nsome new coin we will see, its too early to give any prognosis.

In my country corruption has become an inevitable social phenomenon, and very difficult to overcome.
The presence of bitcoin in my opinion brings hope that has a definite purpose, with a blockhain system that is believed to automatically execute, confirm and store transactions in the public database.
With a system blockhain every transaction will be a public directory and the supervisor will easily record the money that has been out.
I am sure if in all governments use a system like blockhain, it will at least reduce corruption.

Bitcoin can reduce corruption because of its Blockchain technology. The adoption of blockchain helps track each transactions easily and alteration of the transactions cannot be made. This is one of the benefit of blockchain technology. Moreover, the peer to peer system also reduces 3rd party transactions. Transactions are more faster which minimizes the possibility of unofficial transactions resulting to corruption.

Bitcoin can not just reduce but in fact eliminate corruption. It shared ledger which is shared either publicly or privately between multiple entities. All transaction are recorded, and once added these records cannot be deleted or updated.

The government CAN NOT control at all the operations with cryptocurrencies.
The transactions in cryptocurrencies are made using electronic wallets that have a particular address assigned (to avoid talking about exceptions, specifically consider Bitcoin), if a person X, say Karl Holk, wants to receive Bitcoins, he must give the address of his wallet Bitcoin Now, let's imagine this as the traditional bank savings account or bank account number, if Karl Holk, discloses his account number, it is easy to know that Juan Cash is the owner, and therefore his movements can be known, to whom he sent money, what he spent, etc. This is impossible with Bitcoin.

If governments understood the enormous potential of this technology, it would drastically reduce corruption. Let's imagine this scenario for a moment:
1. The fiat money is replaced by a regulated cryptocurrency.
2. Each citizen has a crypto wallet officially assigned by the government.


Let's go back to Juan Cash. You can know all the income and expenses of Juan Cash as well as who received payments and who sent payments, what does it mean? do you imagine true? It will not be an easy task for Karl Holk to receive or pay bribes since these operations will be fully registered and in sight of any person.

This would be an intelligent option for them, very much in spite of the fact that we do not like that they take away our anonymity.

Well I think at some point bitcoin can reduce corruption but it can't totally delete the word corruption in the society because anything that involves money also involves corruption. Most of corrupt people aren't contented for what they have and always aiming to have more. It would be a big help for users but if bad politicians would got to know it, they'll be eager to have more money from it.

For me bitcoin can't help to reduced corruptions.  Because now a days more and more politicians doing bad things in their people.  They used their powers to corrupt and get other people what they have.