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Author Topic: Is bitcoin a "private" currency?  (Read 2283 times)
whoisyourking
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July 05, 2018, 02:16:23 AM
 #101


I think it is wrong to call bitcoin a "private" currency.

On the contrary, imo bitcoin is much more of a public currency that any national currency is.

Your understanding about private and public is wrong word public in a country are the things that manage by the government and the word private in government is the thing that they not own it is usaully own by individuals so the bitcoin system is a private property.

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July 05, 2018, 02:41:57 AM
 #102

It's a yes and no answer for that. It is private because you don't need  KYC type ID to set up a wallet. However, with the right tools and knowledge it is traceable. You'd need something like monero or privcy if you want a private coin
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July 05, 2018, 02:56:10 AM
 #103

I do not think that it is a private currency because everybody can buy, sell, hold and use it. It can be a private currency because of its anonymous transaction.

 
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July 05, 2018, 02:59:29 AM
 #104

It depends on who you're and what's your perspective when you say public it could be inferred as a government coin, when you say private it could mean you're the government who thinks it's a coin for a select bunch of people. So this definition of bitcoins will change person to person and organisation some may even generally consider it either so choose to accept what you want.

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shashkova
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July 05, 2018, 05:42:58 AM
 #105

i dont think we can say if it is public or private, in some ways it itprivate specially when it just stays in your wallet ofcourse that is your property making it private, and in some other ways you can say it is public
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July 05, 2018, 03:41:30 PM
 #106

Bitcoin has never been and will not be a private currency in the sense that it can not belong to an individual. We only have the pseudonym of the developer - Satoshi Nakamoto, but he did not claim his right to bitcoin as private property. Therefore, bitcoin should be considered public domain.
Now bitcoin is used by society, everyone can use its open source code to create a new currency.

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July 05, 2018, 03:47:54 PM
 #107


I think it is wrong to call bitcoin a "private" currency.

On the contrary, imo bitcoin is much more of a public currency that any national currency is.

Although the usage of Bitcoin is still low, it is used by people all around the world. Moreover it has received global recognition and attention.
Crypto holders are beginning to use Bitcoin in real life.
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July 05, 2018, 04:08:54 PM
 #108

It's hard to tell exactly. On one hand, Bitcoin isn't controlled by any private organizations or individuals. So it can't be called private. On the other hand, Bitcoin isn't government-backed and issued by government, meaning that it isn't public. However I think it's not that important to determine it's public or private.
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July 05, 2018, 04:20:19 PM
 #109

Don't think so,not private at all...
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July 05, 2018, 04:55:55 PM
 #110


I think it is wrong to call bitcoin a "private" currency.

On the contrary, imo bitcoin is much more of a public currency that any national currency is.

Bitcoin has never been considered as a private currency and in the future Bitcoin does not seem to be used in private. Since Bitcoin discovery, it has been used publicly since then. No person used to bitcoin work alone. Bitcoin can be used by everyone so it is a public currency. Bitcoin is not a national currency, but it can be called international online currency.
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July 05, 2018, 05:10:50 PM
 #111

I consider Bitcoin a private currency, but it does not solve anything.

The dollar is not issued by a state-owned company, but it still remains a global currency.
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July 05, 2018, 05:13:54 PM
 #112


I think it is wrong to call bitcoin a "private" currency.

On the contrary, imo bitcoin is much more of a public currency that any national currency is.

Yes its can be use as currency and anyone would accept it but i dont think i could make fair transaction using bitcoin, the votalilty makes it hard to do fair transaction and i dont think it could be use for daily transaction. Bitcoin is too complicated and i do think its good for an asset than currency ( atleast for now)

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July 05, 2018, 05:18:42 PM
 #113

a private means that the transaction of the coins and transfer are not traceable and are very suitable to be used in illegal activities. Those coins are getting bad reputation from countries but btc is not like that it is different and every wallet is traceable on the smart contracts.

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July 05, 2018, 05:22:26 PM
 #114


I think it is wrong to call bitcoin a "private" currency.

On the contrary, imo bitcoin is much more of a public currency that any national currency is.

Your understanding about private and public is wrong word public in a country are the things that manage by the government and the word private in government is the thing that they not own it is usaully own by individuals so the bitcoin system is a private property.
true this is such a private property , well there is a lot of phase or an idea how they may look for whether this is a public or private you should learn the difference on it specially here in crypto currency define for it analyzed it , then this is a private property right.

 
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July 05, 2018, 05:34:50 PM
 #115

You wont find a more public currency than Bitcoin in this world. Also what do you mean by private? Bitcoin is publicly available for anyone to purchase and is completely decentralized with no single organization or company controlling it. I guess it makes Bitcoin public enough.

 
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July 05, 2018, 05:50:39 PM
 #116

For any body to conclude either bitcoin is public or private need to understand d meaning of private and public. Private is something Belonging to, concerning, or accessible only to an individual person or a specific group,
Not in governmental office or employment. Not publicly known; not open; secret.
While public is Able to be seen or known by everyone; open to general view, happening without concealment.
Pertaining to all the people as a whole (as opposed a private group); concerning the whole country, community. From the meaning of public and private, I think one should be able to deduce if bitcoin should be categorize as private or public
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July 05, 2018, 06:56:01 PM
 #117

Have you ever seen things being use by many a private thing. Bitcoin is neither a private nor a public currency,  bitcoin is neutral.
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July 05, 2018, 07:08:52 PM
 #118


I think it is wrong to call bitcoin a "private" currency.

On the contrary, imo bitcoin is much more of a public currency that any national currency is.


Some people mean public to be government. In that sense it is obviously not.

Yes, it's obvious that it's a private currency when using the common public vs private distinction relating to government and non-government agents. So it seems OP is mostly getting hung up on a different definition of 'private' in this case.
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July 05, 2018, 07:48:31 PM
 #119

I consider Bitcoin a private currency, but it does not solve anything.

The dollar is not issued by a state-owned company, but it still remains a global currency.

How Bitcoin can be a private currency ? Bitcoin can be used by anyone who knows the knowledge how to access this currency, it is not owned by any private firm and is based on a open source program and also can be used by anyone over the world irrespective of their origin. Bitcoin is a decentralized crypto currency which states that it cannot be controlled by a single company or become a private currency.

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July 05, 2018, 09:32:43 PM
 #120

Bitcoin is not a fully public currency because it offers amenities that ensure its privacy. Bitcoin is partly anonymous and decentralized so its structure is more private and one can say that we make ourselves a bank using Bitcoin. Bitcoin simply allows transactions where personal data is not needed, instead we use the code to send our funds and receive them.

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