What is privacy ? Why does it matter

[patapon49]

I imagine that when you have a lot of money you do not like it to be visible to all, or criminals who want to launder their money

[Transformbitz]

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

In real world we have Central bank and it's centralize. Our Government knows how to deal with our money if they impose tax it gets bigger if we going to save it in our banks, however bitcoin came in our life and the decentralization is what we wanted to have so government won't control us.

[Hafamot]

Privacy means the act of operating without any interference of anybody ,thing or system. Privacy in cryptocurrency is untraceable record of blockchain to anyone.

[pixie85]

There are no "tainted coins" as far as I know. Somebody proposed that at some point but gained no support . If by tainted you mean coming from a crime then most of us probably own such coins. I don't really care if the money that ultimately end up in my hands had come from a hack that happened 3 or 4 years ago. Why should I?

[Shreek]

yes, privacy is very important to keep your coin safe. I'm afraid if you do not use privacy, when you're sending coins to another account, then in the middle of the road hackers will take the opportunity to get into the wallet, and steal your wallet contents.
so you should pay attention to the security of your wallet. there are many people who ignore privacy, and ultimately they lose a lot more.

[PeRo]

People dont want anyone tracking them or their transactions and blockchain does not allow that. No one can know who are you, who are you sending money to, they can only see the adresses, but no names and information.  And thats the beauty of Bitcoin, you cant track it unlike cash and credit card balance.

[Karavadinos]

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

Will you feel safe if someone prevent you from your privacy ?, privacy is an important thing especially in blockchain transactions, without it your money, your transactions and even your life will be exposed to danger , for example if someone with bad intentions can easily detect how much money you own or how much money you've sent or recieved, you will be in a very risky situation.

[coinlawyer]

Privacy is not to buy during the ICO but buy just after the tokens/coins are apppearing on the exchanges: they are always cheap and near the ICO price but in this case You still remain to keep Your privacy without having issues with the KYC/AML verifications. 

[sunneybitc]

Privacy is very important otherwise everyone can find out your spending habits.

[Hell-raiser]

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 don't know why you are asking this question because the answer seems to be pretty straightforward. All transactions are set in stone on the blockchain, so to speak. There is no way they can be extracted and forgotten, but the right to be forgotten looks and sounds like a new buzzword in the Western world today. Blockchain clearly deprives everyone of this right, hence the need for anonymity. Long story short, you should stay anonymous if you don't want to be remembered forever.

[mace15]

Privacy is very important otherwise everyone can find out your spending habits.

This is most important in every transactions the privacy wherein is not pinpoint where did you spend your money. It is very important were other users doesnt know our transaction daily. The freedom to use this blockchain technology is really matter that privacy is not invade.

[White Christmas]

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?

Exactly, why are you questioning how important privacy is? Didnt think that its for your own sake too? Its for the safety of your bitcoin as well when it comes to your wallet. Nobody will feel good when everybody or someone was monitoring all your transaction that you are doing. Surely youll get irritated. Privacy serves as protection to you always remember that.

[pushups44]

You have cases of people getting kidnapped due to bragging about their wealth, as occurred in Russia some time ago. Privacy prevents people from becoming targets of theft.

[podrick17]

If you got a lot of investment and the profit you earn is way too high privacy matters if you don't want to pay your taxes in crypto because whales knows that since trading cryptocurrency is worldwide it's unfair for them that other whales don't need to pay taxes beacause some countries don't have tax imposed on cryptos plus the fact that it's too risky for someone to being known as whale due to some threat of getting hacked by someone.

[Odlanyer]

Yes privacy is very important to us because is serve as protection to the security of our coins, because in the present day many scammers and hackers are scattered in the bitcoin world not all in this world are safe and lot all people in our sorrounding is trustworthy only yourself know your password, private key or important thing about in your life.

[wireless1889]

Privacy is very essential to someone and most of all in Bitcoin transactions. If one knew your transactions and everything you can easily be hacked by these people. If you don't secure your privacy you have the chance to lose everything you earned here, Privacy is needed in everything we do.

[Olrac]

Privacy is being free from everyone else's attention or being anonymous. It is everyone's right to have their own privacy in order to live a peacefully.