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Author Topic: Is bitcoin a "private" currency?  (Read 2283 times)
metenjean
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March 26, 2018, 09:23:50 AM
 #41

What is the definition of private in your statement means? If private define a condition with bitcoin ecosystem then yes it is, because bitcoin wasn't controlled and managed by government but more like private developer. However if you're talking about the private in the definition of consumption then bitcoin can be categorized as public currency and not private because it totally controlled by supply and demand and without any government intervention.

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GeorgiyBilyk
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March 27, 2018, 01:39:16 PM
 #42

bitcoin can not be a private currency! bitcoin was created as a mathematical formula that self-develops! at bitcoin there is no boss at the head! but the price bitcoin is very much influenced by the miners, as well as the major players! until there are real rivals bitcoin, other players can control the price!

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thelolicon2
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March 28, 2018, 02:07:58 AM
 #43

Nope, Bitcoin isn't a private currency because everything of your wallet is all public, people can see how many tokens you have in your wallet, where are you going to transfer them but the only thing they can't see is your name on it.
rhayot
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March 28, 2018, 08:25:50 AM
 #44

Bitcoin is not a private currency because nobody's own it. We all know that this decentralized crypto currency made by the blockchain technology. That's why governments are against with this crypto currency because they want to have a currency that they can control and monitor, just like what we have now, the dollars and euros.
Gifolote
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March 29, 2018, 09:50:23 AM
 #45

I think bitcoin can be called a private currency.after all, bitcoin is not controlled by the state
bitfocus
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March 29, 2018, 09:57:17 AM
 #46

Bitcoin is more of a Public Currency which will become the World (Alternative) Currency in ten years.
franky1
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March 29, 2018, 10:01:13 AM
 #47

public/private are not the right words

btc is a PERSONAL possession asset currency
bitcoin coin is a OPEN currency network

the whole private/public is more about what status a business/organisation has, if its owned by a government or not

so its better to talk about the funds as personal possession vs shared ownership vs controlled/licenced
and the network is either open(anyone can be part of) vs closed(ned to be employed or have special privelidge to be involved)

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mrbamboo
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April 19, 2018, 11:54:35 AM
 #48

I agree that Bitcoin is now a "private" currency. I work to collect Bitcoin, self-preserve them and execute transactions autonomously. No one knows how much Bitcoin I own. And no one has the right to tax my property. The advantage of Bitcoin is its ease of use and privacy. In the future, although Bitcoin is widely accepted, Bitcoin is essentially a "private" currency.
creativereza
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April 19, 2018, 12:17:06 PM
 #49

I do not think Bitcoin is a "personal" currency. Because Bitcoin is the online cryptocurrency online. If any person desires to earn money by investing or doing it online, feel free to do so. So this is not a personal currency.
Cherrybomb
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April 19, 2018, 12:26:37 PM
 #50

But in the other side it connot be could a public currency becouse no one own bitcoint his crypto currency because they want to have a currency that they can control and monitor, just like what we have now.
Maame Esi Sergio
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June 20, 2018, 09:11:43 PM
 #51

Bitcoin is more of an asset than to be called a currency. I it is a digital asset that anyone who owes some could boost of. In that case it could be a private currency since assets are private. Bitcoin is a no nation currency, It is the currency for only those who understands its operations and potentials.
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June 20, 2018, 09:19:46 PM
 #52

I do not know how you got that idea but everyone can get the Bitcoin up for the money. Where is this private?

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June 20, 2018, 09:48:55 PM
 #53

What is the definition of private in your statement means? If private define a condition with bitcoin ecosystem then yes it is, because bitcoin wasn't controlled and managed by government but more like private developer. However if you're talking about the private in the definition of consumption then bitcoin can be categorized as public currency and not private because it totally controlled by supply and demand and without any government intervention.

Agreed, I think bitcoin is not a private currency after all it is used by many nationalities all around the globe, unlike other currencies which is exclusive only for their specific country, bitcoin is also be converted in any currency , that is how the blockchain works, Technological advancement is in our grasp this age, maybe we should use bitcoin as our alternative currency or rather a singular currency for all the people of the world, but I think it will not be accepted by other countries we just wait for it to be recognize.
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June 21, 2018, 12:21:04 AM
 #54

 I think bitcoin is not a private currency because bitcoin is used by different people from different countries
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June 21, 2018, 03:48:54 AM
 #55

Bitcoin is a decentralized peer-to-peer payment network and can not be undone and contains no personal or sensitive information.
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June 21, 2018, 03:56:42 AM
 #56

if I think bitcoin is personal money because there is no power of state authority is also not taxed

rosepetals
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June 21, 2018, 03:58:03 AM
 #57


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 for everyone not just set on as  private currency but it is for everyone who wanted to own ,invest or hold it.Anyone can profit from it if they were aware on the usage of bitcoin as a mode of payment or for investment purposes.
nesty
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June 21, 2018, 04:05:23 AM
 #58


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.


That is true bitcoin is not private currency because everyone can invest on it and keep it as their investment. More people now are using bitcoin in purchasing online and there are also countries who accepts bitcoin in different establishment so we cannot call it as a private currency.

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June 21, 2018, 04:11:54 AM
 #59

What do you mean by private ? It is open for all people worldwide so I will say it is the most public and transparent.
chipzeru
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June 21, 2018, 04:25:45 AM
 #60

In my opinion, bitcoin is still considered as a private currency as it's decentralized which means not controlled by government or a group of people. No need to leak your data to own a bitcoin address unlike bank account. Even though the bitcoin transactions can be tracked as it's recorded on the public database but it's not showing the identity of the address owner.
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