Politicians fear cryptocurrency because it will stop corruption. - page 9.

thomas_goal

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Quote from: Koadharber on July 25, 2018, 02:13:37 PM

Quote from: mimienamphine on July 21, 2018, 07:01:39 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.

Not really at all yet politicians do really love it instead. Why? because they can able to hide up funds that they do have corrupted but when we do talk on the other side where blockchain tech would be implemented in terms of payment or budget system then its the end for those people who do involve on corrupting funds because they are the ones who do involve anomaly when there is already a liquidation but when crypto is already on the line then it would be an another story.

What do you mean exactly? I agree that they can hide money quite easily in it because they can do favors and then accept crypto as a means of payment. There's always a way to return a favor, and crypto happens to be a more convenient one because it's not easily traced.

But in terms of blockchain for budget, you mean they won't be able to tunnel funds out of it so easily? Or they won't be able to misdirect it, and spend it somewhere else? Couldn't they still spend it in favor of certain interest or lobby groups if they wanted?

Jr.

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Not really, corrupted money can be also turn into crypto without trace since once they turn stolen money into digital wallets and turn into Altcoin it is hard to trace now since they can divide the money into different wallets...

donalfonso

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I fail to see how cryptocurrencies will stop corruption. Infact I believe the decentralized nature of cryptos will allow corruption to thrive the only reason it hasnt started is because most politicians have not grasped what crypto currencies are all about.

Koadharber

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Quote from: mimienamphine on July 21, 2018, 07:01:39 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.

Not really at all yet politicians do really love it instead. Why? because they can able to hide up funds that they do have corrupted but when we do talk on the other side where blockchain tech would be implemented in terms of payment or budget system then its the end for those people who do involve on corrupting funds because they are the ones who do involve anomaly when there is already a liquidation but when crypto is already on the line then it would be an another story.

bubidan.id

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Quote from: beej on July 25, 2018, 01:41:20 PM

I think crypto won't stop corruption if governments fully accept and implement
cryptocurrencies. But it however poses as an underlying threat since a lot of the
politicians have yet fully understood what crypto is fully capable of in the long
run. If these politicians do fear crypto maybe it's due to personal reasons that
always involves money and personal gains. Politics is serious money after all.

There are still many ways to practice corruption, with blockchain or cryptocurrency this will not stop the rate of corruption.
As far as I know, there are many political people who know and support cryptocurrency, they start to learn. And the government began to glance and do many experiments on blockchain and cryptocurrency, but again this will not reduce the rate of corruption. There is always a way because human is in fact created with the intellect of mind.

repzaj

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even the cryptocurrency is the new currency of every natiob thw corrupted people is always there because corruption is the value of being greedy. I think the government fear the crypto because the number 1 problem will be the tax evasions.

beej

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I think crypto won't stop corruption if governments fully accept and implement
cryptocurrencies. But it however poses as an underlying threat since a lot of the
politicians have yet fully understood what crypto is fully capable of in the long
run. If these politicians do fear crypto maybe it's due to personal reasons that
always involves money and personal gains. Politics is serious money after all.

Shenzou

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Quote from: mimienamphine on July 21, 2018, 07:01:39 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.

Apart from corruption politicians are afraid from bitcoin just for that, but also because they were not the firsts to support it, and they always tell people that it is not going to be any good and it is just a bubble and soon it will explode, and they were wrong , and because a lot of those who invested in it earlier and who becamed rich from, so politicians don't want it to flowrish and become a big thing because it does not meet their interests.

toolucky98

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Quote from: orions.belt19 on July 21, 2018, 07:17:23 AM

I don’t see how it will stop corruption. Corruption is rooted from greediness and I believe that politicians will continue to become greedy despite of the presence of cryptocurrency. How will that stop them from abusing their power and authority? They don’t fear crypto because they actually have the power to declare a ban. You probably heard some negativity from them because of how much money it generates and they’re probably just jealous of the people exploiting it when they’re the ones who should be able to exploit it for money.

corruption and misuse of money there will always be, because they will always look for ways to do it

AnonBitCoiner

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The solid truth is yes.It's due to the transfernce of cryptocurrency.If bitcoin became a legal in particular country,the illegal investors such as politicians will be captured with the bank accounts.So their will be some transference.This is the cause for politicians fear about cryptocurrency.

fabrizoc

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Quote from: mimienamphine on July 21, 2018, 07:01:39 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 don’t think they are afraid of Bitcoin. Assuming that Bitcoin is being used by any country where the politicians are corrupt, the country will be losing millions everyday without them being able to pinpoint exactly where the problem coming or who is doing it. Someone can even hack the country’s store of Bitcoin and steal everything in it, or some group of politicians can carry out evil plans to make away with the country’s money through Bitcoin. This is likely to take place in developing countries.

gabmen

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Quote from: rlm42 on July 24, 2018, 08:08:32 AM

It seems to me the main reason why the state loses cryptocurrency is the loss of control over the economic sphere. Since the nature of bitcoin is contrary to the nature of statehood.

Well if regular people can take advantage of cryptocurrencies, why can't politicians? I mean, it's anonymous nature cam be of well used for corruption. Let:s face it, as it stands, we can't run from corrupt politicians running our country.

DeadCoin

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Crypto is another source for politicians and big business men for money laundering and corruption. But all politicians may not be aware of it besides the educated and the politicians who have support of educated advisors. Besides their own fiats all other currencies including crypto currencies can be used for illegal acts and corruptions. But this is really good for crypto's growth as all stagnant money is circulated and crypto currencies get chances of manipulating it.

Alert31

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Cryptocurrency will not stop corruption because corruption exist first in the mind of a person. I think politicians not fear in cryptocurrency,who knows politicians also investing in crypto because they know how profitable it is. Bitcoin is decentralized and politicians can't regulate it but they can invest on it to earn more profit since bitcoin is anonymous. You know other people are so greedy and sometimes do not care about others.

rlm42

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It seems to me the main reason why the state loses cryptocurrency is the loss of control over the economic sphere. Since the nature of bitcoin is contrary to the nature of statehood.

cydrix

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I think it's the other way around. Politicians and other illegal members of the society will have secure transactions throughout the entire world having access to bitcoin means you have full control of your money and nothing to be feared of having a freezed account or credit/debit card. The problem is the accuracy of money in Bitcoin is unstable it could go down easily without notice so it's a hard choice between having a bank to rely on which can give you full responsibility to their service like having insured money incase it was robbed out of the bank but Bitcoin isn't like that.

Bezobraznike

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Quote from: Baresh on July 24, 2018, 07:00:44 AM

Definitely, most of the politicians fear cryptocurrency because they cannot regulate the transactions in cryptoworld, in that matter they cannot even corrupt as what they usually doing.

They can`t regulate it, they can`t control it, and crypto-currencies are not main source of their income,
fiat is.
But not all politicians are bad. There are good ones and there are advanced countries. Some countries
already adopted Bitcoin, other will do that too when big ones force them to.
Many politicians are just old fashioned, they don`t recognize potential of technology and they advocate
traditional ways.
New generations are technology oriented. This old politicians will finish their carriers soon, new time is
very close.

Baresh

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Definitely, most of the politicians fear cryptocurrency because they cannot regulate the transactions in cryptoworld, in that matter they cannot even corrupt as what they usually doing.

casternetwork

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Agree with your comments. If Bitcoin is accepted in a country, politicians will be the most worried. But I do not think that Bitcoin can repel corruption. Because there are many other things that can help corrupt politicians like cash or gold

pinoyden

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Yes i agree . that is also what im thinking about . i guess that is the real reason on why there are some few countries that curently bans cryptos . policians are maybe scared because they cant get a tax if crypto did become a mainstream curency to a specific country . although not all politicians are corrupt because most of them are still supporting the development of cryptos and we can already see it because there are now a lot of countries that widely adapts cryptocurrency for regular usage .

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