Politicians fear cryptocurrency because it will stop corruption. - page 3.

arthotdog

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Quote from: mimienamphine on July 21, 2018, 08:01:39 AM

The transparent nature of the cryptocurrency industry is one of the Paramount reasons why politicians are kicking hard from all angles against it.Well,I am glad that despite all these agialtations,the industry moves on .One day full potentials will be established. Share your views.

You’ve got it there budz,politicians are afraid of the decentralization and the transparency cryptocurrency might give(ofcourse aside from ripple and other centralized coins)

This is what the reason why Japan is enjoying the crypto as their currency because of this and why many countries hated on the other side

WUUEX79

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Xch4nge.com

Quote from: mimienamphine on July 21, 2018, 08:01:39 AM

The transparent nature of the cryptocurrency industry is one of the Paramount reasons why politicians are kicking hard from all angles against it.Well,I am glad that despite all these agialtations,the industry moves on .One day full potentials will be established. Share your views.

You're right OP. I think this thing is the main reason behind the various types of state restrictions on cryptocurrencies. Officials and politicians are a group of hypocrites. I know, not all officials have bad character surely there are still officials who have good character. Unfortunately, good officials position's lower if compared to bad officials. I'm sure to this day there are still good officials who have a positive outlook on cryptocurrency, but due to there's pressure from corrupt superiors then the benefits of cryptocurrency cannot be developed/realized especially for the wider community.

Moiyah

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Apparently, there are still politicians who are supporting cryptocurrency and blockchain thing. There are still good politicians who wish to acknowledge the potential of this rypto thing. But I must admit, most of the politiciand are really afraid to accept bitcoin on their system. We all know why.

Rustamm

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Bitcoin lover!

I do not understand how the crypto currency can stop corruption, what is the relationship between them. It seems to me that it will be very good for corrupt officials to approach the Crypto-currency to take bribes in the Crypto-currency. Then it will be very difficult to prove the fact of receiving a bribe. Therefore, I believe that politicians are afraid of crypto currency for quite a different reason - first of all, loss of control over cash flows. Who owns this information, he has real power. Thus, because of the introduction of crypto currency, politicians are afraid to lose their power.

Leyss

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Quote from: Nnedaddy1 on September 15, 2018, 07:58:08 AM

I disagree tottally with the above assertion that "politicians believe that bitcoin will stop corruption".
As a matter of fact, bitcoin helps politicians to be more corrupt without anyone noticing.
So politicians like bitcoin.

They can launder money with bitcoin untraced.

I think so too. Politicians are not at all afraid of crypto currency in the sense that it can in some way stop the corruption. Since corruption is a crime, politicians will be more than happy to use crypto currency for these purposes in order to remain in the shadow. Anonymity of crypto currency can use absolutely everything, including politics.

Bagaji

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Quote from: mimienamphine on July 21, 2018, 08:01:39 AM

The transparent nature of the cryptocurrency industry is one of the Paramount reasons why politicians are kicking hard from all angles against it.Well,I am glad that despite all these agialtations,the industry moves on .One day full potentials will be established. Share your views.

All depends on what you meant by politicians because am very much aware of the fact that most of the politicians particularly those who are corrupt make use of Bitcoin and crypto currency in general in their money laundry across the country and convert their cash to crypto currency so that the financial institutions in their country will not have access or information to the cash belonging to them.

best ever

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Quote from: DavidGBoydq232 on August 25, 2018, 05:45:24 AM

At present, politicians and governments have got a glimpse of cryptocurrency. Corruption is not related to cryptocurrency, there are many forms of corruption, your opinion is only true in one aspect.

I also cannot understand how the cryptocurrencies stop the corruption. yes, the crypto is anonymous but who will prevent a person to send his BTC or altcoins to another one as a bribe?

peach

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The title of this thread alone is nothing but truth

Cliparts

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Quote from: Crystal24 on September 15, 2018, 08:22:44 AM

No. Politicians fear many things but not bitcoin. The anonymous structure of bitcoin makes it possible for criminal activities to carried out using bitcoin.

Yes you are right I think politicians have no fear of crypto currency the bitcoin because it has no harm for them, bitcoin is able to use for everything and it has no effect on their economy but it will improve their money safety, so if they are I think they should not be, apparently bitcoin does not have any effect to the community and it only use to increase everyone month for profit and security of income for long time.

@Mhaiang

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W12 – Blockchain protocol

Does cryptocurrency really make them fear of committing corruption, crimes, shady activities, or the so-called money laundering? I think NO. Cryptocurrency is not transparent as it is a decentralized transaction made on the blockchain. It's the safest way to transact without being traced or have your personal information exposed.

nguli

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yes you are right because this blockchain technology and cryptocurrency can track all the owners of the wallet that is used so as to make corruptors deterred.

Neltharion

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Yes, many of the opponents of cryptocurrency say it is good for drug trafficking or arms. But I think this is a deliberate expansion of some politicians. In fact, corruption is a more serious problem. Such a society is low-level.

TheClownSong

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Quote from: mimienamphine on July 21, 2018, 08:01:39 AM

The transparent nature of the cryptocurrency industry is one of the Paramount reasons why politicians are kicking hard from all angles against it.Well,I am glad that despite all these agialtations,the industry moves on .One day full potentials will be established. Share your views.

Cryptocurrency is good tool for hiding their corruption. Most politician afraid on cryptocurrency because banks lobby very strong. Cryptocurrency will keep going forward even government dont regulate because crypto market already stand more than 9 years and growing more bigger every year

Rustamm

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Bitcoin lover!

Quote from: mimienamphine on July 21, 2018, 08:01:39 AM

The transparent nature of the cryptocurrency industry is one of the Paramount reasons why politicians are kicking hard from all angles against it.Well,I am glad that despite all these agialtations,the industry moves on .One day full potentials will be established. Share your views.

Why should politicians be afraid of decentralized crypto currency and how can it stop corruption? Do politicians refuse to take bribes with a crypto currency? In my opinion, the Crypto currency will even contribute to corruption, because it is relatively anonymous and for servicing the corruption process it is very convenient.

dreico

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corruption comes from people, not from the money itself, so the change of money laundering will not change if you change the currency Undecided

Bitfling

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Cryptocurrency can reduce corruption. With transparant ledger, every transaction in blockchain can monitorized. But government can not identify who is the wallet owner. Blockchain can create transparant system and combine with government service, i am believe its very useful to reducing corruption

Nboramir

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I don't agree with this because I think cryptocurrencies don't provide transparency. We don't know who is the owner of the wallets. I think governments don't like cryptocurrencies because they can't collect tax from unknown wallets.

aeternus

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Quote from: mimienamphine on July 21, 2018, 08:01:39 AM

The transparent nature of the cryptocurrency industry is one of the Paramount reasons why politicians are kicking hard from all angles against it.Well,I am glad that despite all these agialtations,the industry moves on .One day full potentials will be established. Share your views.

I really think that the reason they fear cryptocurrencies the most is not because it's going to stop corruption, the main reason is because they are going to be out of work, many of the things that cryptocurrencies can do will affect banks and governments directly which means that all of those people are going to lose their jobs, something that they are not going to be very happy about.

SearchingforS

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“The Future of Security Tokens”

Agreed. Probably that feature is what their fear the most, modern politics is very corruptionized and crypto may really fix that.

fuding12

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Yes, it seems like that. Politicians fear cryptocurrency because it will stop corruption.

As we know, Blockchain technology has several features that are inherent and distributed transparently. Every cryptocurrency transaction is recorded on every computer that fully participates in a network known as "full node", I think it will make certain corruption methods basically impossible.

Topic: Politicians fear cryptocurrency because it will stop corruption. - page 3. (Read 2424 times)