I cannot suggest it will fight against corruption since there is no system that can provoke them as long as there is corrupt person in the government it will remain this kind of illegal actions.
It is great opportunity use bitcoin for laundering system to help some people to start something new in their life.
Topic: Is Bitcoin the way to fight corruption? Or is it the good way to launder money? - page 3. (Read 1699 times)
December 07, 2017, 09:48:01 AM
December 05, 2017, 06:33:29 AM
Bitcoin will prevent any fake projects because they need to include the details in the blockchain so yes it is a very good way to fight corruption. Every transcations in the government should be like that. The money laundering can still be avoided if every exchanges and trading sites will cooperate.
I kind of agree that it will fight corruption but not in the same way. If a corporation would invest in bitcoin, then they wont need to make high prices,they would even lower the commodities and if a government would want to invest in bitcoin,their is a high chance that they will have another source of income and they could lower taxes.
December 05, 2017, 04:52:53 AM
Bitcoin will prevent any fake projects because they need to include the details in the blockchain so yes it is a very good way to fight corruption. Every transcations in the government should be like that. The money laundering can still be avoided if every exchanges and trading sites will cooperate.
December 02, 2017, 05:18:18 PM
To launder money using bitcoin is easy because the government does not recognize bitcoin. In my country many corrupt officials use bitcoin in order to legalize their income. They declare that bought bitcoins in 2010 for a few hundred dollars and now become millionaires. The tax on capital gains we have about 5%. Paradise for legalization.
December 01, 2017, 10:50:36 PM
It would depend on the person who uses it. It can be use to fight corruption because of the transparency of transactions but the problem with it is the anonymity of the one who uses it. If however, government would use it, I am sure there would be records as to who are the one who use the addresses so that it would be easily identifiable as to who is responsible in case something happens to the funds and the auditor too can do something about the policies and procedures so that they can easily trace the flow of transaction.
Money laundering would be easy too because of the fact that the people behind the addresses cannot be determined easily. A lot of bad publicity about bitcoin is connected to money laundering which we cannot deny is possible but money laundering can be done using other means too like cash so they cannot just easily spout about bitcoin being bad money because if a person intends to do something illegally, he will do it whether it would be bitcoin or cash for that matter.
Money laundering would be easy too because of the fact that the people behind the addresses cannot be determined easily. A lot of bad publicity about bitcoin is connected to money laundering which we cannot deny is possible but money laundering can be done using other means too like cash so they cannot just easily spout about bitcoin being bad money because if a person intends to do something illegally, he will do it whether it would be bitcoin or cash for that matter.
December 01, 2017, 10:08:55 PM
Both ways because it can be used in that perspective.. But it doesn’t really happening on bitcoin or cryptocurrency alone because for a long time this practice is been done on fiat currency.. I can’t clearly state on what matter cryptocurrency can fight corruption but we can work it out soon and money laundering is a really big problem to our society now and I’m sure this platform is already abused by those criminals..
December 01, 2017, 06:41:29 PM
There have always been scammers and corruption, and this is not a problem of bitcoins, it is a problem of society and countries. If you look at this side, anonymity in the network bitcoin is not the best thing.
December 01, 2017, 03:29:38 PM
In my opinion,All big players of the market agreed on the publicity of information and they are ready to give a special information to investigative authorities if they doubt in any transfer,Just imagine,In another situation all goverments will ban bitcoin,because criminality will be the main problem.despite this,I think there is a great balance and the price of bitcoin is rising day by day.By this balance, it’s much easier to investigate crime and nowadays,it has a great role in justice.
October 11, 2017, 11:45:43 PM
I see no way for Bitcoin to fight corruption. I mean, sure, every transaction is recorded and transparent, but they're also all anonymous to a degree with no regulating body. It would take a hell of a lot of resources to pin down an address to a single person, so a large scale anti-corruption operation would take ages. The same reason is also why it's being used to launder money.
Blockchain technology is a different story though. Governments are already looking to use it to improve convenience and transparency. Dubai is planning on doing this with their land registry to eliminate the need for their citizens to visit physical offices, leaving the process with less room for corruption.
Blockchain technology is a different story though. Governments are already looking to use it to improve convenience and transparency. Dubai is planning on doing this with their land registry to eliminate the need for their citizens to visit physical offices, leaving the process with less room for corruption.
October 11, 2017, 07:58:57 PM
In my country many officials actually bought bitcoins and now to tell about what they did in 2010. Only if desired, they can be easily accused of fraud and tax evasion. No one wants to do. The government spreads the rumor that we need to ban bitcoin due to the fact that they launder money, only to deny doing it to ordinary people.
No I think bitcoin and corruption are two different things. Corruption cannot be stopped with bitcoin rather many people think that bitcoin will cause of more corruption. Corrupt people will invest their illegal money in bitcoin because they cannot use such money anywhere in the world otherwise they will be caught by the investigating agencies. Therefore they thing that bitcoin is the safest way to invest black money. October 11, 2017, 04:43:54 AM
In my country many officials actually bought bitcoins and now to tell about what they did in 2010. Only if desired, they can be easily accused of fraud and tax evasion. No one wants to do. The government spreads the rumor that we need to ban bitcoin due to the fact that they launder money, only to deny doing it to ordinary people.
October 11, 2017, 02:03:11 AM
Bitcoin is not a place for money laundering but because of its high security, illegal activists may choose it as a place to wash money properly. Because it is a virtual currency and no one manages it so they will use it to buy large amounts of bitcoin with the money they earn illegally but no government can intervene. Nowadays, investors in the field of cannabis through bitcoin do so without tax or the state controls you.
October 10, 2017, 06:47:36 PM
October 10, 2017, 07:53:22 AM
I will not act as a good citizen of my country and company employee. We live and surrounded by people that we see all our life that leads us in taking the path they’re doing in front of you. Corruption is not only present on our government, big or small businesses have and the sad part is that even our home is infested by it.
I don’t think bitcoin can change it, it won’t be good enough to even straighten the curve attitude of a people to corrupt others. Money has a bad effect to people’s way of survival and that will last until the end of this world.
I don’t think bitcoin can change it, it won’t be good enough to even straighten the curve attitude of a people to corrupt others. Money has a bad effect to people’s way of survival and that will last until the end of this world.
October 10, 2017, 02:55:49 AM
Will money leads to corruption or rather exacerbates corruption as we know it? Yes and no...this is depending on the person or people involved and depending on the situation. You see, money -- all forms of money whether fiat or digital plus anything that has real value -- is just a medium of exchange and is considered to be amoral (not moral and not immoral).
Bitcoin is just an instrument and how it can be used whether for good or bad depends so much on the user. It is just like the gun...we can use it to defend the land or we can use to harm ourselves. Whether Bitcoin can lead to more corruption or not...that question has been answered long time ago because money has had been in existence for so many centuries.
With or without Bitcoin there will always be corruption. Bitcoin can never totally stop corruption as we know that humans can be so creative in finding ways and means to do what we want to do. Limiting the instrument will not stop corruption. Corruption can only be stopped if we all start to be totally honest with ourselves and we all learn to be humble and repent and accept each other's mistakes made in life.
Bitcoin is just an instrument and how it can be used whether for good or bad depends so much on the user. It is just like the gun...we can use it to defend the land or we can use to harm ourselves. Whether Bitcoin can lead to more corruption or not...that question has been answered long time ago because money has had been in existence for so many centuries.
With or without Bitcoin there will always be corruption. Bitcoin can never totally stop corruption as we know that humans can be so creative in finding ways and means to do what we want to do. Limiting the instrument will not stop corruption. Corruption can only be stopped if we all start to be totally honest with ourselves and we all learn to be humble and repent and accept each other's mistakes made in life.
October 09, 2017, 12:29:29 PM
Bitcoin is the only currency. It doesn't help and is not fighting corruption. It's not her job. It is wrong to blame the weapon is that it kills people. Initially it was created to protect. Charges of crypto-currencies is that they corrupt this element of the information war, governments and banks against a free economy.
Realistically it would be used illegally because any anonymous could use it and it is one of the main reasons why government are against and making claims that it is some scam or a failure in the future. Honestly I could understand why they wouldnt want to allow transaction in there own country. But economically it could help also to at least increase earnings by a state.
October 08, 2017, 11:14:11 AM
Bitcoin is neither to fight corruption nor the way to launder money. It is totally dependent on the users ,who use it. Some time in media it is said that bitcoin will be ban because of money laundering, terpor funding, hiding tax etc. But by banning bit coin situation will not be change . They ,who does the crime will certainly find a alternative way. We have to stop the action not have to ban the tool.
All States will never agree to ban the use of bitcoin at the same time. Those who impose such a ban will lose their income due to the fact that people will withdraw money in that country that do not. I think it would be Japan and Switzerland. Japan is always the first in the world adopts innovations. Switzerland is happy to provide its territory for investments. 
October 07, 2017, 05:51:49 PM
First, everyone should know that Bitcoin is not anonymous, it's pseudonymous - it means that every address is a unique identifier and in many cases it is possible to trace transactions to some point that will reveal their owner. Also, transactions are stored on public blockchain forever, so even if someone successfully hiding their illegal money now, it may be uncovered at some point in the future. This all makes Bitcoin not exactly well suited for any illegal operations, so criminals prefer cash and privacy-based cryptocurrencies. But since Bitcoin is public and immutable, there can be many situations when it will prevent corruption by moving some operations to Bitcoin.
October 06, 2017, 11:19:09 PM
Bitcoin is neither to fight corruption nor the way to launder money. It is totally dependent on the users ,who use it. Some time in media it is said that bitcoin will be ban because of money laundering, terpor funding, hiding tax etc. But by banning bit coin situation will not be change . They ,who does the crime will certainly find a alternative way. We have to stop the action not have to ban the tool.
October 06, 2017, 12:12:35 AM
The only solution for corruption is spirituality. Bitcoin is money and money isn't solution for this kind of issue. There are laws that could help decreasing corruption, but they aren't enough to make it disappear completely.
Many people worry about Bitcoin because money laundry and that is a fact. What I think could be done to prevent this kind of illegal action would be several punishment for who practices this. The question is: How to find money laundry enthusiasts?
That is surely very hard and to find them it would be necessary to finish the pseudo-anonymity of Bitcoin... There should be always some way to track the money and all its steps. I think those mixer services would be forbidden for this reason.
This kind of regulamentation would be acceptable, but it doesn't justify Bitcoin users paying extra fees to their governments, lowering their personal profit. And as I know this basic regulamention wouldn't happen because government would never be satisfied I prefer everything continues as it's now!
Many people worry about Bitcoin because money laundry and that is a fact. What I think could be done to prevent this kind of illegal action would be several punishment for who practices this. The question is: How to find money laundry enthusiasts?
That is surely very hard and to find them it would be necessary to finish the pseudo-anonymity of Bitcoin... There should be always some way to track the money and all its steps. I think those mixer services would be forbidden for this reason.
This kind of regulamentation would be acceptable, but it doesn't justify Bitcoin users paying extra fees to their governments, lowering their personal profit. And as I know this basic regulamention wouldn't happen because government would never be satisfied I prefer everything continues as it's now!
Jump to: