Topic: Do you think that bitcoin can reduce corruption? - page 34. (Read 2582 times)
Bitcoin was introduced so that there is no third party needed for doing transactions between two people and you can call bitcoin as a pseudonymous one and not anonymous. And here if you can understand the bitcoin model it easily supports the corruption suppose if someone is holding his black money in the form of BTC or suppose a person can easily transfer the black money to one another with knowing the IT government. I think it will be easier for the government to support the economy and destroy the corruption by introducing their own crypto coin, and in INDIA I came to know they are soon going to release their own crypto coin name LAXMI coin .
I don't see any special relation between bitcoin and corruption. You can pay in cash, in bitcoin, in gold, in any kind of asset... so, bitcoin is just one more way to be payed.
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?
Probably, The governments are afraid about the presence of bitcoin at the top of the currencies. As well , that causing major problems in economic and also that weakening the currencies of countries ( like : euro , dollar..), as banks also have major financial losses. Nevertheless, they did not recognize Bitcoin as a legal currency and the same problem for other cryptocurrencies . Otherwise, they think that these currencies will cause a danger in the many countries. Unfortunately this opinion is wrong.
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?
Government can ban bitcoin to their country if they want, Bitcoin can help us to earn money through internet but i don't think bitcoin can reduce corruption because bitcoin is not related in government so the corruption is still on the country.
Bitcoin has nothing to do with government or politics, it's a virtual currency to be use in any online transactions. Bitcoin is like fiat, can be acquire and use by anybody to any kind of transaction, legal or not.
I think it will be opposite bitcoin will increase corruption,bitcoin has provide anonymous nature to hide black money so it can not be helped.but i think proper use of blockchain and forming money into ledger record can atleast track the amount of money one holding.
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 believe so, because every transaction on the blockchain can be view by the public becoming that transaction more transparent to the community. And since it cannot be altered the listed transactions are justified and should be believe as the truth.
In contrary bitcoin cant reduce corruption, instead it is more prone to corruption. As long as there is money involve corrupt people is also there specially in e-transaction. It could be easier for them to facilitate and control your money.
Bitcoin can never reduce corruption, instead it can proliferate corruption since bitcoin's transaction is super anonymous that there is no information of the sender or the receiver of bitcoin that is why, bitcoin is a perfect tool for criminals to commit crimes.
I'm not sure about this, some people say that the bitcoin owner can be traced to the connection he uses to access bitcoin, but there must be a gap for corruptors.
yes, I am not sure too because as far as we don't know the wallet address, then we don't know who is he and we don't know how much transaction did he made. but if we know his wallet address then we can track him and we can see how much amount he made so if something is looks suspicious then we can asked and investigate him.
I think it is impossible. But at the moment it is an unexplored field. Everything could happen!! .... Even that governments support the banks that, through a task force, would enter the blockchain and bitcoin network. Nobody can prevent it...
I guess not, bitcoin can't reduce corruption, corruption has always been a sensitive issue in all countries because most who do so is the Government, even in poor countries and developing country corruption seems to have become a regular thing and as there is no way to stop it.
Using bitcoin I think the corruption will be increasingly easy to do transactions without in the know. in the my country use bitcoin as payment was forbidden even the bitcoin considered as dangerous investment.
Using bitcoin I think the corruption will be increasingly easy to do transactions without in the know. in the my country use bitcoin as payment was forbidden even the bitcoin considered as dangerous investment.
I'm not sure about this, some people say that the bitcoin owner can be traced to the connection he uses to access bitcoin, but there must be a gap for corruptors.
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 think in order for them to continue to control the fiat they will make an effort to make the economicsyatem more transparent because in this way people will not notice that they are against with cryptocurrencies. They against with cryptocurrencies because they can't control it like what they do with the fiat.
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 think in order for them to continue to control the fiat they will make an effort to make the economicsyatem more transparent because in this way people will not notice that they are against with cryptocurrencies. They against with cryptocurrencies because they can't control it like what they do with the fiat.
I don't think so. Corrupt people will always be corrupt, they will not spend their precious time in internet and their precious effort in bitcoin. They will think that the money will get here is very little compared to what they will get in corruption. They will think that there is a very little probability they could be millionaire or billionaire in here rather than in corruption.
People sometimes got crazy and think that BITCOIN is the solution to every socio-economical problem they are facing today. But it's not so, BTC can't really help to reduce corruption coz bitcoin use anonymity in the transaction so how could we know who got how much bitcoin with them. Bitcoin Address is just the combination of number and alphabets, which cannot define the identity of the user. Bitcoin transaction may called to be transparent on blockchain but it does not have any advantage to evade 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?
When government feel threatened about what Bitcoin was bringing, surely government would make an act to regulate it and see for themselves that they were not being corrupted. Bitcoin can really allow someone to hide wealth anonymously, and this will possible make more corrupted people. I think, there is no way Government can make Bitcoin transparent, they actually do not have full control over it.
Actually, with its anonymity, there are good chance that bitcoin will create MORE corruption!
In these days it's difficult to move money without to be traced, but with bitcoin and just a scramble you can transfer any sum without be noticed.
In these days it's difficult to move money without to be traced, but with bitcoin and just a scramble you can transfer any sum without be noticed.
This is wht i am talking about, people hold and save money without being traced by anyone through bitcoin. If the corruption state would be severe due to Bitcoin, there is only one way to fix it by the Government by banning the use of bitcoin.
Of course not. Corrupted people will always be corrupted and nothing is going to stop that drive.
That is correct and it is human nature to be corrupted and not listen to the conscience. However bitcoin and blockchain cannot stop corruption. Those who are corrupt will remain so. That can only be changed by teaching them and not by implementing blockchain as if blockchain is a magic pill or so.
Even though blockchain is a public ledger and the ability to manipulate the blockchain is almost nil, the adoption of crypto among people is still small.
So even if one person accepts being no-corrupt the other other 1000 people will not.
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?
They cannot really bring more transparency to the economic system. Everything is already on the platter for everyone to see. The best solution for them until now is to ban out every possible thing which stands against their claim until people realize that decentralization is the only way out so they revolt against the government. Jump to: