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Author Topic: Is bitcoin a "private" currency?  (Read 2281 times)
ngalamunan
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September 11, 2018, 02:43:32 AM
 #221


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 is not a private currency but using of bitcoin is private for sure. Since its anonymous we can send or receive the a lot of money without giving any data or identity. Bitcoin is a public currency even AtMs are build in some countries many hostel schools are accepting it there's no chance of calling bitcoins as a private currency. Maybe you're calling it private because they're not exist physically but its internet currency and everyone is welcome to use it

bitcoin can also be called private currency because if we have invested in the world of bitcoin we can get a lot of benefits that we can use as we please. so it's the same as personal money.
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September 11, 2018, 03:00:38 AM
 #222

bitcoin is only private in terms of not showing the identity of the owner of the address and some crypto enthusiasts saw this as a problem since someone could still see your total asset of cryptocurrrrencies. This was one of the major reasons why masternodes came into place to ensure absolute privacy and anonymity.

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September 11, 2018, 04:52:00 AM
 #223

It's the true definition of a public currency.
 Anyone can run and use Bitcoin unlike public stuff owned by most governments. It's trustless, uncensorable, transparent and immutablity.

PayPal is more of a private payment system for the dollar. So called Cryptocurrency like ripple and maybe stellar can be classified as private currencies.




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September 11, 2018, 04:54:33 AM
 #224


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.


Never heard that Bitcoin was private but instead i heard it is anonymous. Anonymous in a way that you wont be able to know the identity of the receiver or the sender of Bitcoin because transaction doesnt include name or any personal information of the sender or receiver of Bitcoin.
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September 11, 2018, 05:01:49 AM
 #225

This topic is from 2011

Just saying.....

And last visit from op was in 2014. Replies doesn't affect him now but people need need to raise post count so comments are keep coming lol

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September 11, 2018, 05:07:25 AM
 #226

I do not think private, all your transactions are tracked correctly on Blockchain! There are many ways to find your information! The best way is to use the law!
If not, you should choose and use another Crypto.

 
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September 11, 2018, 05:22:31 AM
 #227

I think "independent" is more apt. We know that there is no central authority that governs bitcoin nor it is a corporation.

Since bitcoin operates on an independent manner free from traditional governing controls and works without any intermediaries such as a bank, its independence is quite notable.

But if to be asked whether private or public, i think it is more of a private currency since public has the common notion of belonging to the government.
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September 12, 2018, 07:53:22 AM
 #228

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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September 12, 2018, 11:27:38 AM
 #229

In fact, more than 80% of bitcoins are in the minority of the number of bitcoin holders. And those same holders can manipulate the market, so new investors with a find and want to invest in bitcoin because it can lose a huge pile of money on it.
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September 12, 2018, 12:05:47 PM
 #230

it's true that bitcoin is like a personal currency, because bitcoin is not circulated by a country that authorizes the community.

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September 12, 2018, 12:16:50 PM
 #231

Bitcoin is a public blockchain with open source. And it is fully supported by enthusiasts. It can not be private. This is out of the question. But, the fact that states have an impact on the bitcoin price, as well as on all other currencies is a fact.

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September 12, 2018, 01:12:48 PM
 #232

it's true that bitcoin is like a personal currency, because bitcoin is not circulated by a country that authorizes the community.
bitcoin can be said to be a private currency because many people use bitcoin safely and also monitor by the money holder itself, very safe and managed by the owner of the money itself.

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September 12, 2018, 02:15:45 PM
 #233

There is some country allowed bitcoin for his country but most of the country not grunted it.So it is clear that that country allowed bitcoin for this country it is a government currency and beside that country not allowed bitcoin but people use it personally there its called private currency.There are many country in the last few month banned bitcoin for his country.

yes I agree with your opinion.
Bitcoin Is Not Public in Transaction, the name of the sender and recipient or seller and buyer cannot be tracked by another person.
so I believe that Bitcoin is private.
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September 12, 2018, 02:19:45 PM
 #234

There is some country allowed bitcoin for his country but most of the country not grunted it.So it is clear that that country allowed bitcoin for this country it is a government currency and beside that country not allowed bitcoin but people use it personally there its called private currency.There are many country in the last few month banned bitcoin for his country.

yes I agree with your opinion.
Bitcoin Is Not Public in Transaction, the name of the sender and recipient or seller and buyer cannot be tracked by another person.
so I believe that Bitcoin is private.
Yes, that bitcoin will indeed keep the personal information we have and that is the advantage that bitcoin has. What I'm worried about now is that bitcoin is widely used for illegal actions. Bitcoin should be able to get regulation so the government has a rule to maintain the stability of the security of the use of bitcoin.
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December 16, 2018, 12:33:12 PM
 #235

No I do not think so it's a private currency because bitcoin is known by everyone.
 so it is a not private currency.
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December 16, 2018, 02:30:51 PM
 #236

what do you mean about private currency? i think bitcoin is the digital currency. bitcoin is not a private currency because it can be sue for all people that have the access to their own wallet.

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December 16, 2018, 02:38:47 PM
 #237


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 is absolutely 100%  a public currency based on their mission and vision statement here in virtual digital system provided by Google and You tube. But now  Bitcoin will  experienced  a bad situation and they will trying to fix it and solve the current problem about the low price.

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December 16, 2018, 04:13:29 PM
 #238

I agree with you. That bitcoin is a private currency. That's why Bitcoin is getting so popular. Which has become the famous currency of Bitcoin Crypto Market.

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December 16, 2018, 04:24:58 PM
 #239

Yes Bitcoin is a private currency. Due to this some countries do not like Bitcoin. But due to the negative currency, the number of people connecting with Bitcoin is increasing every day.
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December 16, 2018, 04:48:15 PM
 #240

Bitcoin is not meant to be a private currency ,rather it is created to liberate the masses from being extorted,exploited and subdue by  traditional institutions in the world.It is created to give the masses the power and finacial freedom they have been denied.
On the other hand,one must do kyc in big exchange if the person is a trader that trade and withdraw huge amount of bitcoin.The question is,what makes it private while your personal identity is registered on exchanges.
So,some people might call bitcoin private currency, but if you look inwardly,you will see bitcoin is not a full private currency.My opinion is,even though bitcoin transactions may not show your name ,but the exchanges you are trading on can still trace you using the identity you gave to them at the time you registered on their exchanges.
In some countries, one must present his bank verification number before trading on indigenous cryotocurrency exchange.
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