What is privacy ? Why does it matter

[crptomoon1001]

People have been talking about privacy being a very big deal in blockchain transactions. Can you help me understand how will privacy help ? Preferably give an examaple to explain better. Thanks

[1714168594]

1714168594

[Yakamoto]

People have been talking about privacy being a very big deal in blockchain transactions. Can you help me understand how will privacy help ? Preferably give an examaple to explain better. Thanks

Let's say that I had the ability to watch every single one of your transactions, and know where your money is going and how much you're taking in as an income. Now let's say that I also know who you are, what you do, your spending habits, etc. Does that make you feel comfortable? Some random-ass dude on the internet having a complete set a vision of your financial situation?

Now let's say you do some... unsavory things with your financials. Do you want me to know about those? What would you do if someone either important or special to yourself also knew about those things?

Starting to make sense eh?

[bakkang]

People have been talking about privacy being a very big deal in blockchain transactions. Can you help me understand how will privacy help ? Preferably give an examaple to explain better. Thanks

Privacy is very important and a big deal in block chain transaction because it will help you to secure your coins. For example you have an ethereum wallet then your wallet has a coins therefore to secure your coins you must keep your private key so that they will not going to steal your coins in your wallet. We must be careful because a lot of great scanners has been existed that's why we should keep well our privacy

[desi92]

People have been talking about privacy being a very big deal in blockchain transactions. Can you help me understand how will privacy help ? Preferably give an examaple to explain better. Thanks

I also heard about this case before, for some people, have privacy is very important for them but i dont know why?
Or maybe because they are not good people. Jist guess
However, for me privacy is not really important, i dont mind someone know me in this crypto world.

[Rossy Akbar]

What kinda privacy do you mean? maybe privacy here is different according to its introduction. If the privacy is meant to protect ourselves from the others that we aren't known to transact with bitcoin, I think I don't really mind and not really important,  but if the privacy in question is about our investment in bitcoin it should be very important in my opinion.

[whirlcoin]

People have been talking about privacy being a very big deal in blockchain transactions. Can you help me understand how will privacy help ? Preferably give an examaple to explain better. Thanks

Privacy is not that much important for the Normal users but for the big whales they don't want to het exposed how much their wealth is.So they are using blockchain transaction mostly.But is is beneficial for everyone too,no one can trace us and no threat for the big fund holders too.But if we hold the fiat currency in big amount there maybe a chance for getting hacked.

[jzone23]

People have been talking about privacy being a very big deal in blockchain transactions. Can you help me understand how will privacy help ? Preferably give an examaple to explain better. Thanks

Privacy or anonymity just like how it is defined in dictionary dude. In blockchain transaction we are not required to provide our personal information enable to proceed with our transaction. Do you want your transaction be an open ledger to public?

[Yakamoto]

People have been talking about privacy being a very big deal in blockchain transactions. Can you help me understand how will privacy help ? Preferably give an examaple to explain better. Thanks

I also heard about this case before, for some people, have privacy is very important for them but i dont know why?
Or maybe because they are not good people. Jist guess
However, for me privacy is not really important, i dont mind someone know me in this crypto world.

I'll never understand why there are people that do not want privacy. Why in the world do you want the ability for people to peek in on your life whenever and glean a lot more knowledge than they ever would have before? Why do people need to have "something to hide" if they simply want to retain their privacy and not have people seeing what they're doing, governmental or otherwise.

I'm posing this as a serious question to everyone who thinks they don't want privacy. Why do you disregard something so important, really?

[filharvey]

Privacy is the main factor as far as online transactions are concerned as it would be a serious security threat if anybody is able to know about our transactions. For example, if a third person knows about a person that he is having large number of bitcoins through his transactions, then it would also be a life threat to that person. That's why, many people chose bitcoin transactions as it is pseudo anonymous. Still  it's not fully anonymous and so they started to use some bitcoin mixer services to avoid their identity getting revealed. Some even started to use altcoins like monero, zcash as they provided full anonymity.

[Fire316]

    Yes,it is verry important and a big deal to have privacy in every blockchain transaction. Privacy means secrecy or being apart from observation of others. It means nobody knows about your transaction,your password,private key  to keep it secure but only you.

[xuan87]

I think privacy is very important in transactions, imagine that all of your transactions is open to public, and people will know how much you have in your account, you can become the target of criminal, and if you are doing business people will know how much you pay from your item and how much you sell it to your customer, its going to annoy everyone

[Kakmakr]

Privacy will become more important, when it is taken away. A lot of governments are trying to infringe on their citizens privacy for their own hidden agendas. They target their own citizens, to keep them in power. <Examples : Stopping donations to WikiLeaks to prevent people from exposing government corruption>

Your financial privacy is also important, because the wealthy are targetted by hackers and these corrupt governments. <In some countries, wealthy people are even targetted by their own countries>  

[bering]

privacy is necessary by some people because they were too fear their personal informations will be misused by some people and blockchain technology could provide the particular transactions without give personal informations not just like bank and that's why some people too are being comfortable use bitcoin rather than other currencies because they can able to send their bitcoin for everywhere and world wide

[Tambu]

People have been talking about privacy being a very big deal in blockchain transactions. Can you help me understand how will privacy help ? Preferably give an examaple to explain better. Thanks

Everyone needs a privacy. Not all places on earth are safe.  It is your defense against evil. If you expose yourself expect evil people will try to get you if you have much.

[Sasuke102001]

Privacy for transactions and as well as in personal life is quite important. Just imagine someone knows how much you earn, how much you spend and on what do you spend, or spend on something that is unsavoury would you feel comfortable with it because I wouldn't be comfortable with someone keeping a watch on my daily tasks. So privacy is very important. And crypto-currencies were made because to keep privacy of transactions

[yepaiyique2]

The solution to the privacy protection of bitcoin is to achieve the anonymous effect by separating the real identity of the transaction address and the address holder. So while you can see the sender and recipient address of each transfer record, you can't correspond to a specific person in the real world.

[Mr.Junker]

People have been talking about privacy being a very big deal in blockchain transactions. Can you help me understand how will privacy help ? Preferably give an examaple to explain better. Thanks

what might be called privacy is the security of transactions including the security of our account and wallet. whether that's what it meant. May need a clearer definition of the above question. about a blockchain transaction may not have anything to worry about. Because we are still protected from some security in our account. But if the question is our account and wallet finances that may be the point in question. All the most fundamental root in the transaction is the security of our account and wallet of course. now there are many security that protect our account, but whether the future is still safe? that's what needs to be upgraded at all times regarding the securit system.

[Alexnelepa92]

Privacy for transactions and as well as in personal life is quite important. Just imagine someone knows how much you earn, how much you spend and on what do you spend, or spend on something that is unsavoury would you feel comfortable with it because I wouldn't be comfortable with someone keeping a watch on my daily tasks. So privacy is very important. And crypto-currencies were made because to keep privacy of transactions

Bitcoin is not anonymous, but rather pseudoanonymity. It is known to most people that use cryptocurrency. However, many don't know why the default Bitcoin is not anonymous, and what can be done to establish the identity of the user or, conversely, to increase your privacy

[Dapper]

Unless you live in a transparent glass house and stand around naked all day, I think the original poster already understands privacy.   

Same concept, only it's with your money, not with your body.

[Pursuer]

People have been talking about privacy being a very big deal in blockchain transactions. Can you help me understand how will privacy help ? Preferably give an examaple to explain better. Thanks

Privacy or anonymity just like how it is defined in dictionary dude. In blockchain transaction we are not required to provide our personal information enable to proceed with our transaction. Do you want your transaction be an open ledger to public?

actually there are multiple concepts which are very similar but differ in some aspects.
privacy, anonymity, confidentiality and security are the ones that I can think of. I could not possibly start to explain it in English lol but you can read articles online to understand the difference. like these for example: https://breakthroughanalysis.com/2017/04/14/privacy-vs-confidentiality-vs-anonymity-who-knows/
https://www.privateinternetaccess.com/blog/2013/10/how-does-privacy-differ-from-anonymity-and-why-are-both-important/