Topic: Do you think that bitcoin can reduce corruption? - page 25. (Read 2604 times)
Bitcoin can really reduce the corruption because of the power of the blockchain or the online ledger, we can see the transaction that the people who are currently leading so we can see and say if they are doing the things in the right way or not. Bitcoin is a way for us to reach decentralization and more transparent government.
Bitcoin will never stop corruption. Corruptionists adapt to any form of payment. Even if there is no money to take bribes will not stop. They will take eggs with chickens honey, etc. Corruption is stimulated by a double interpretation of laws.
In my own opinion, there is no kind of currency can stop corruption even bitcoin because every person in the government corrupts, they are all greedy and all they want is to have power, even they look very nice they still corrupts. I also think the government would like to earn bitcoin because they are demanding taxes in other countries.
Bitcoin will never stop corruption. Corruptionists adapt to any form of payment. Even if there is no money to take bribes will not stop. They will take eggs with chickens honey, etc. Corruption is stimulated by a double interpretation of laws.
The purpose of investing in bitcoin is to get extra money and with that money they can now even pay some taxes. So I think with bitcoin, it will reduce the corruption as well. Many government staffs that always ask us to pay our tax on the date, never late but they never think about us, how are we going to get money just to cover our tax. But with bitcoin now, everything is really simple and it can lead us being more succees than now
Not necessarily bitcoin, as of now bitcoin is not a reliable p2p transaction channel due to atrocious fees.
It will be quite hard to also trace the movement of money in the crypto space. There are several privacy coins that can make it impossible to trace txns.
I think using blockchain tech innovatively can help reduce corruption by lessening red tape and making some processes automatic and with no human intervention (like sending funds to those that need it and are poor).
I think yes because when someone join bitcoin and he start hard work here so there is no doubt that he can earn a lot of money from it and then he don’t need to do any corruption because bitcoin is the only currency which can make you a rich in a short time so those who need money and they want to be rich so they must join bitcoin because its income is very easy to earn and it also very fast so join bitcoin for your future. It will be quite hard to also trace the movement of money in the crypto space. There are several privacy coins that can make it impossible to trace txns.
I think using blockchain tech innovatively can help reduce corruption by lessening red tape and making some processes automatic and with no human intervention (like sending funds to those that need it and are poor).
corruption is like cancer, don`t matter how hard are u trying, anyway it will progress, it`s really hard to avoid it
Now that governments have a competitor in terms of currencies, do you think that they will make an effort to make the economic system more transparent or will they just try to ban everything?
Bitcoin is more likely to increase corruption as transactions cannot be traced back to an individual. It is one of the major issue that governments have with bitcoin and why many move to ban it.
So I just want to say that If we,Especially goverments understand future value of bitcoin or other cryptocurrencies it will be helpful for infrastructure,education and for other forms of human capital and not for coruuption,it will also help to provide other forms of social security...
No. Bitcoin has nothing to do with corruption. Corruption has something to do with people and it will only be stopped when people stops being corrupt.
Banning bitcoin just lessen the possible source of income of people but it can't reduce corruption.
Banning bitcoin just lessen the possible source of income of people but it can't reduce corruption.
On a higher scale of corruption I don't think bitcoin can do a lot. Corruption starts at the bottom so, if they would know about investing in bitcoin and earn with it then, they can think twice about corruption.
Now that governments have a competitor in terms of currencies, do you think that they will make an effort to make the economic system more transparent or will they just try to ban everything?
I don't think it can reduce corruption but if your question is if BITCOIN can be used in corruption My answer is yes. they will use BTC for storing the money they steal from the government and instant it is untraceable once it is already in crypto market 
Now that governments have a competitor in terms of currencies, do you think that they will make an effort to make the economic system more transparent or will they just try to ban everything?
Bitcoin is more likely to increase corruption as transactions cannot be traced back to an individual. It is one of the major issue that governments have with bitcoin and why many move to ban it.
yes bitcoin will be the source of corruption because they will give high tax on it and some government official dont see that transaction because it is untraceable.
In one hand yes but in other not. Corruption generelly is more effective in third world countries and computing technology knowledge in these regions is in a very low level which inhibit bad intentioned people to act in this universe. From the moment that a government decides to introduce officially and ethically BTC in its economy, all the financial processes control will be easier,faster and efficiently. But there's a question: Do they want it? At this moment is when BTC cannot reduce corruption!
It's very complicated to talk about and tends to be unpredictable. How to predict the future that has not happened and not yet certain? Moreover, corruption and cryptocurrency are two very different things. Cryptocurrency is a digital currency that exists only in physical form and is used to transact freely without the intervention of banks, taxes, and government. While corruption, is an act to save a sum of money that is not our right, the money from the community and or the property of others. So you should know that cryptocurrency is difficult to connect with corruption because cryptocurrency is just a currency.
I think bitcoin can reduce corruption, but also bitcoin can be a good tool to hide the results of corruption, because bitcoin is not audited by the government as wealth
Bitcoin could ease the corruption process, but these days from some countries the regulations were made by corrupt politicians who doesn't know how to use it. If they have known about it, they too will support for function as it is without creating of bans and other laws.
Blockchain technology can not just reduce but in fact eliminate corruption, as blockchain is a shared ledger which is shared either publicly or privately between multiple entities. All transactions are recorded on the blockchain, and once added these records cannot be deleted or updated, i.e they remain in the blockchain forever.
I think Bitcoin can somehow help the country to reduce corruption, as long as each of everyone is earning using the idea of cryptocurrency.It is good to hear also that government are open to digital currency, which in time they will accept it, just being well informed them on how cryptocurrency works in the economy so that they will not banned it and make it legit to evryone..
Government being threatened by BTC is already a sign that it will hinder their dirty hands. Especially in my country, they already released a statement that they won't be supporting BTC and saying that "It's too dangerous, do not trust" and they're using the media, it's all over the news. I think that the blockchain technology of btc is what makes it secure allowing not third party to hinder any transactions which poses a threat on our filthy politicians.
There're thousands of reason why government doesn't want to accept bitcoin, mainly they are afraid that it will cause economic disruptions because they can't control the influx of money flowing around. However, I don't know if corruption is a big factor for them to restrict crypto's.
Corruption has been with mankind, ever since our existence, so I doubt that even with bitcoin or blockchain, we can really reduce it. 80% of the government are corrupt, mostly from underdeveloped and developing countries. But it doesn't mean that if they embrace bitcoin, corruption in their government will drop.
Now that governments have a competitor in terms of currencies, do you think that they will make an effort to make the economic system more transparent or will they just try to ban everything?
For me no, inatead it can maybe lead to corruption as people who used it become greedy from it. Bitcoin can help economy financially if people will going to use it well and be united as one to change their economy in better. Corruption is anywhere especially if money was there. This is because bitcoin is totally a digital thing and it could not be banned at all. If more and more people would divert their attention towards the crypto market then it might be possible that corruption would get reduced to some extent but it cannot diminish completely because black market and scamming are also associated with these digital assets.
Now that governments have a competitor in terms of currencies, do you think that they will make an effort to make the economic system more transparent or will they just try to ban everything?
to follow technological advances the government should legalize bitcoin currency, because with the existence of bitcoin the financial system will be more transparent, maybe for now the government has not legalized the bitcoin currency for use in the country because bitcoin price can not be influenced by government policy
Now that governments have a competitor in terms of currencies, do you think that they will make an effort to make the economic system more transparent or will they just try to ban everything?
Bitcoin can be used in good and bad ways. I can't say if it can let the people see transparency in the economy. And I'm not so sure of that it can also reduce the corruption but if it will start to take over banking sector then government officials can liquidate the funds that are coming from the people who are getting through the banks before it goes to their hands. Jump to: