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Author Topic: Is bitcoin a "private" currency?  (Read 2283 times)
bitfocus
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June 21, 2018, 04:41:21 AM
 #61

You are right, Bitcoin has all the strength to become World Currency, we just need to stop thinking of it as only a media of Investment and need to start using Bitcoin more as a currency.
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Nerman
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June 21, 2018, 04:47:03 AM
 #62


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.


I agree Bitcoin is the most public as it gets. Bitcoin is the first decentralized currency available in the market, which in fact favors the market. Banks are actually furious because of that, they can not control it and they can not do anything about it.

Now although Bitcoin is a public currency not everyone knows this currency publicly, and with bad reports from the mass media many people are thinking about Bitcoin as a scam. It is our job to make sure the public understand what this currency can do for the public.
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June 21, 2018, 05:26:13 AM
 #63

Who would have thought that a question that was asked in 2011, would still be relevant today. I think if you applied this to the Blockchain, then you would call the Bitcoin Blockchain, <Public> and all of these other Blockchain based technologies, <Private>

When there is <Public> participation in the decision making process via a consensus based model, then Bitcoin qualify as a <Public> currency, but when a centralized decision model is followed, then I would call that a <Private> Blockchain.

This is a very important distinction that will become more important in the future.  Angry

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June 21, 2018, 05:33:20 AM
 #64


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 a public currency this is available to all it needs to have a volume of supporters to become primary used for the entire world, this is the products of new generation high technology time is very quick transformation from old school method to millennial method. Bitcoin Digital currency is really easy to transact PER to PER transaction using virtual digital currency is efficient than current uses.
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June 21, 2018, 05:44:47 AM
 #65

Private is when there is one who created and he is the controlling body, in our case, when speaking about bitcoin, we are dealing with an international project that does not belong to anyone. All manipulation of prices is the result of efforts by different groups of people to take control of the largest share of BTC.
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June 21, 2018, 05:46:46 AM
 #66

It is a decentralized entity so I would not call it private as such. Of course it is not created by a central banking system or government so in that way yes it could be called private if you mean that it isn't generated by any one single body. I think though that it is being manipulated and controlled now by the big bitcoin holders so in that way it can be deemed fairly private as many of these big groups meet in secret to say whether they will buy or short.


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DoublerHunter
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June 21, 2018, 06:07:04 AM
 #67

Bitcoin is not a private currency, it is just a cryptocurrency which can make you anonymous because you can't be tracked but it doesn't mean that it is already a private coin because for me the meaning of private coin is a coin that is totally anonymous, it means that there is no tracks that the other people can follow to find out your wallet or anything like that. Bitcoin is just a semi-private currency for me.

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iePlay Nowei
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GeorgiyBilyk
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June 22, 2018, 09:17:46 PM
 #68

ordinary money is a hoax! the inflation of all money on earth is constantly happening! Inflation directly depends on corruption of officials and civil servants! there are few countries left where their paper money is equal to the amount of gold! in Africa, for example-the depreciation of money is very fast! and that's when the new currency-bitcoin appeared! Now bitcoin - they are very much manipulated, and very much depends on large pockets and influential people on the ground! but I'm sure it's all temporary, until there's no more approval! After the world approval - the bitcoin will have competitors with a good capitalization! and then there will be no sharp leaps in price! years through 10-15 course is stabilizing, and will be at the same price!

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June 23, 2018, 07:58:37 PM
 #69

Bitcoin is completely anonymous but not really sure if it can be classified as a private currency. Bitcoin is the first and fastest growing coin in the cryptocurrency world and its a digital currency that can be used most especially for investment purpose in the cryptocurrency community.
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June 23, 2018, 08:42:26 PM
 #70

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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June 23, 2018, 08:56:48 PM
 #71

definitely. the government does not support bitcoin and most of its investors are people.
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June 23, 2018, 10:00:41 PM
 #72

One of the most common misconceptions about Bitcoin is that it is a completely anonymous and private currency.
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June 23, 2018, 10:29:21 PM
 #73

Bitcoin is public currency, as a revolutionary it could be the one form of currency that will be used by all people around the world. If this is achieved Bitcoin will be a international currency.
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June 23, 2018, 10:40:08 PM
 #74

Bitcoin is public currency, as a revolutionary it could be the one form of currency that will be used by all people around the world. If this is achieved Bitcoin will be a international currency.
I think btc has become world currency. because at this time duni already know the usefulness and function of bitcoin. what's more with anonymous usage and low transaction costs, making more and more consuming btc
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June 23, 2018, 11:51:18 PM
 #75

Bitcoin is not a private coin because high percentage of bitcoin is owned and controlled by its investors. Bitcoin is not controlled by government and it's not a private currency....everyone has access to it and it's price is not controlled by a single owner. 
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June 24, 2018, 01:17:20 AM
 #76

Bitcoin is public currency, everyone can buy and owned bitcoin. Anyone can invest in bitcoin so why is called private . They want more investor so that it can help the price to increase.
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June 24, 2018, 02:07:28 AM
 #77

nah i do not agree that bitcoin is a private currencies . bitcoin does not controled by a goverment and why they call that bitcoin is a private currency ?
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June 24, 2018, 02:33:44 AM
 #78

I think bitcoin is public in terms of having bitcoin. Anyone can buy and have bitcoin as long as someone is willing to. In terms of its accessibility and tracing of government, it can considered as private for the reason that govermment can't track and trace the amount of bitcoin in one's wallet and the only person to have access in it is the owner or anyone else who have the key to access the said wallet.
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June 24, 2018, 02:50:57 AM
 #79

No.Bitcoin isn't private currency. This is world wide currency. Many people used this currency. I think so bitcoin is world wide business. So I there for it's public currency.
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June 24, 2018, 05:31:38 PM
 #80


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.

I don’t think bitcoin is private or public crypto currency, bitcoin is only decentralised crypto currency and I don’t think no one knows it, only those have money can own bitcoin, bitcoin is still decentralised crypto currency and those countries who has legalised it, owns it in their nation only but if we call it for a whole then we can call it a national currency rather than to call it a private currency because there is no such owner of bitcoin and every one can hold it by investing into it.
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