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Author Topic: Is bitcoin a "private" currency?  (Read 2281 times)
cizatext
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July 05, 2018, 09:46:56 PM
 #121

Bitcoin is not a private currency and bitcoin is not only limited to one country or being use by one country, bitcoin is a universal currency which is use all over the world so at that no single country own bitcoin and bitcoin is not own by an individual but bitcoin is a store of value which is use for online transactions and a great assets.
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July 05, 2018, 09:50:30 PM
 #122

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
Anonymity and confidentiality are the factors that have helped Bitcoin since the early days of its formation so far and have always received great support from investors. I am confident that the development of BTC as well as The cryptocurrency market will be stronger in the near future.

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July 05, 2018, 10:01:37 PM
 #123

It is absolutely wrong to tag bitcoin as a private currency. If that is the case then it makes bitcoin looks like it belong to a particular group of individual which is not so. Bitcoin is actually for all of us irrespective of where you coming from. So I think bitcoin is more like a public currency either than private currency

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July 05, 2018, 10:55:19 PM
 #124

bitcoin creates a huge influence on all aspects of our lives, bitcoin give a profit to everyone. and everyone can become rich with bitcoin.

then, the wrong perception if bitcoin is private. bitcoin also does not close to spreading its popularity to the public.

so, I think, bitcoin is a choice for everyone.
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July 06, 2018, 03:47:33 PM
 #125

i don't think bitcoin is a private currency.
Bitcoin is a public currency.
because it can be used by everyone.
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July 06, 2018, 04:00:32 PM
 #126

I can says bitcoin is private currency because it doesn't hold by government and authority you can control bitcoin whatever you want, anyone can control bitcoin by the help of themselves but bitcoin becomes  the world's currency for the future.
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July 06, 2018, 04:26:26 PM
 #127

I do not know if it's a private currency or not, but I think bitcoin is just crypto not the original currency or the other
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July 06, 2018, 04:40:12 PM
 #128

I believe bitcoin is private currency base to what i understand about the private currency which means it is  issued by a private entity or  individual beacuse  fiat currency issued by governments or central banks. In many countries, the issuance of private paper currencies is severely restricted by law.But somehow i'm hoping  the bitcoin will become the world currency because of potential  good  value and can also be made transactions worldwide without differentiating the country.
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July 06, 2018, 04:58:13 PM
 #129


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.

Legally, bitcoin can not be considered a private crypto currency, since no one has yet claimed ownership of bitcoin. Bitcoin belongs to the public, everyone can use its open source code to create its own crypto currency. Also, bitcoin does not have any control center and is decentralized.
Bitcoin can be attributed to private crypto currency in the sense that it is used primarily by private individuals. Legal entities, state governments are unlikely to actively use bitcoin in their activities. Apparently, they will use more centralized types of crypto currency.

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July 06, 2018, 05:36:27 PM
 #130

No, Bitcoin is not a private currency but a public , Bitcoin is only decentralized in nature which is the main reason of creating it , no government have power over it and it has a limit to be mint while normal currency doesn't that is why it's centralized but Bitcoin can only be mine by miner with a particular reward for every block and any one can mine Bitcoin .
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July 06, 2018, 05:43:47 PM
 #131


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.

The best thing about bitcoin is that you can have it just by browsing internet I mean for using bitcoin all you have to get is an internet connection and then can transact with the people worldwide irrespective of the country they live in but for having the national currency of a country you should have a bank account and also you should convert into other currency for transacting with people of other country.
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July 07, 2018, 01:32:02 PM
 #132

I agree with you. Because it does not govern any country or government. That's why it can be said bitcoin is a private currency.
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July 07, 2018, 03:41:26 PM
 #133


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 you are right, bitcoin is not a private currency, it is a public currency. Everyone can see the address, the balance of bitcoin, the transactions, etc.
I think bitcoin was created to become a daily currency, but now because the price is high, it is used for investment.

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July 09, 2018, 08:55:55 AM
 #134

 For my opinion, crypto market is better than national currency. I agree with you about private because everyone you scared for himself. It is personal profit for everyone using it. So it is up to you.

                   
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July 09, 2018, 09:00:46 AM
 #135

As I would see it, bitcoin is as yet considered as a private cash as it's decentralized which implies not controlled by government or a gathering of individuals. No compelling reason to release your information to possess a bitcoin address dissimilar to ledger. Despite the fact that the bitcoin exchanges can be followed as it's recorded on the general population database however it's not demonstrating the character of the address proprietor.
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July 09, 2018, 09:02:55 AM
 #136

bitcoin is not a private currency I think, why? because as we can see that every people in the world can use bitcoin as their currencies, they just need to use the online wallet or offline wallet for bitcoin and they can use bitcoin 100%. so its not a private currencies, it will be the worldwide currencies


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July 10, 2018, 03:34:19 AM
 #137

Bitcoin is not a personal currency. Investors in bitcoin are now the majority of society. At first, the knowledge of bitcoin is hidden and it seems private currency. But unfortunately, now all the public starts inverse in bitcoin, better call it as public currency. Bitcoin is not a personal currency. Investors in bitcoin are now the majority of society. At first, the knowledge of bitcoin is hidden and it seems private currency. But unfortunately, now all the public starts inverse in bitcoin, better call it as public currency. It's available to anyone anywhere, so that way it's public. On the other hand, anything provided by the government for free is considered public. So public education is state-funded education, while private education is all you have to pay. BTC is not free, you have to pay for it, so it can be seen almost free (or literally free via gift and faucet). Actually it is not easy to reach a consensus here.
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July 12, 2018, 01:07:25 PM
 #138

I think bitcoin is not a private currency. It is a decentralized currency though. I believe satoshi nakamoto want bitcoin transparent, so everyone can trace every transactions of bitcoin.
If you interested in private currency, you may want to look into private coins like XMR or XVG.

In some parts you right about the private currency. But technology is gross up fast and Bitcoin becomes the best system to halt and invest your money.

                   
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July 12, 2018, 01:29:27 PM
 #139


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.


Definitely I agree with you. Bitcoin is much more of a public currency. In fact, that innovative blockchain that Bitcoin is built on is essentially a giant ledger that allows everyone to watch where money flows in perfect detail.

With that said, someone can’t figure out who you are by watching the blockchain alone. All that they would see are Bitcoin addresses, which look like scrambled random data. If, however, someone is able to link a Bitcoin address to your real identity, then they can begin to trace your transactions throughout the blockchain, and that’s where privacy gets dicey.
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July 12, 2018, 01:41:09 PM
 #140

A private currency is a currency issued by a private entity, be it an individual, a commercial business, a nonprofit or decentralized common enterprise. So I can conclude that Bitcoin is not a private currency....
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