is bitcoin is a private currency

[F_Ivanov1993_]

How many people have so many opinions about what kind of currency it is and why it is needed.

[Tigorss]

I think bitcoin cannot be called a private currency, because the different types continue to spread not only in one region or bitcoin country spread in all countries so if bitcoin is considered a private currency it is wrong.

[izza123]

I think bitcoin and cryptocurrencies in General by definition can be called a private currency. They are not controlled by the state, created by private institutional entities for individual purposes.

[Yadamosan]

Actually for now Bitcoin it's not just a simple private currency because almost the whole country know all about the word Bitcoin so i think its not just a private currency maybe in the future whole over the world are known the all about in the Bitcoin. If they try to make this private make sure the'y dont get the bitcoins down unlike on other company they promising but eventually they going down after a few years later. Bitcoin is not just an private currency until in the future. 

[izanagi narukami]

Bitcoin is not a currency but yes it is private investment.

Bitcoin consider as an asset just like gold etc but bitcoin have the privilege that able act as currency.
But remember about the risk beneath of it because the comes the great power, comes the great responsibility !

Means that bitcoin able make you rich also able make you poor if you are careless !

[jhongzjhong]

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Means that bitcoin able make you rich also able make you poor if you are careless !

Have a good looked on this, yes, Bitcoin will probably be getting you easily enrich by investment and on another side, it will also might you poor if you don't have enough knowledge on this. Bitcoin is not a private currency it is different than the traditional currency, even government hate on this due to lack of regulation but still people using on it privately as an asset.

[Capt00]

Different people are having different perspective way viewed on bitcoin technology, some are saying it is not currency( in that case I will agree) and some are saying yes it can be used as a future currency. For me it is not currency is just like an asset that we privately invest just keep until we find our profit target. So, we can store it privately without knowing others and wait for a perfect time to sell to have our profit from the investment. Bitcoin is not a private coin it is open to all who wants.

[boyknightvn]

I think it's both 2 kinds. It's a private currency also a world crypto currency.
We don't know who stored the coins so I think it's a private currency

[Snaic]

I think bitcoin is a world currency not a private currency and because he does not hold by the government and does not have tax.. and i am agreed for this currency. so all people are wrong tell us bitcoin is a private currency.

Bitcoin can not belong to a private person, or a legal entity, or to any particular state or group of states. Nobody owns a document proving that he is the inventor of Bitcoin. Therefore, Bitcoin can be considered an invention of the people. Bitcoin can be considered a private cryptocurrency only in the sense that it will mainly be used by private individuals, and not by government agencies.

[Danilotot]

You can not say it's private. because everyone can enter the crypto. the crypto is a hidden currency that the world does not know. and so do not want other countries here because this currency is still low profile.

[RendaW]

First time I hear that it could be considered as private currency... but for sure no. Maybe some other altcoins, but not this one anyway

[Theb]

I think this shouldn't be debate on as it really depends on what country you are in and what laws is applying to the industry. Not to mention that there are also different kinds of cryptocurrency namely utilities which acts out as money and securities which are acting out as stocks of a company which some are paying regular dividends. Even the word private currency should be defined by your own law making body in the law itself in order for us to have just one common answer in place.

[LeGaulois]

You can not say it's private. because everyone can enter the crypto. the crypto is a hidden currency that the world does not know. and so do not want other countries here because this currency is still low profile.

Dude, stop your non sense. So if the world isn't aware of cryptocurrency so Bitcoin is a private currency?

Do you know what is a financial privacy? Here crypto can be useful, but regarding Bitcoin it is called a pseudo-anonymous crypto since you are only identified by a series of numbers (your wallet) but the ledger is public and transactions are traceable

[Pattart]

I think bitcoin and cryptocurrencies in General by definition can be called a private currency. They are not controlled by the state, created by private institutional entities for individual purposes.

I think everyone is free to call it, because that is the function of decentralization itself, everyone is managing their money freely in bitcoin without any rules and interventions, there is no limit in using their money here, that's why bitcoin is often called private currency for some people..

[Kingofbitcoin12345]

First time I hear that it could be considered as private currency... but for sure no. Maybe some other altcoins, but not this one anyway

You’re not alone.. OP is only imagining while writing or posting about this nonsensical private conspiracy theory of him.. Lot of newbies here in the forum stand out of having a genius imaginary capabilities that only them and the likes of them understand..

No such issue or even heard of an hearsay about bitcoin as one private currency in my years being in crypto world,, so this is new to me but certainly not true..

[SinarG]

I think bitcoin is not yet "ripe" to be a world currency. Some more time must pass. Because now it is considered more as an investment of money.

[CoinPocket]

How bitcoin can be a private currency if it's not issued by any legal entity, individual, enterprize?
Don't forget that this's an asset ussued by comp.protocol.
And it is not controlled,regulated, distributed by anyone.

Though I won't be schocked if I find the news about any authorities call bitcoin a private currency.

[KorakPawon]

if the private currency means that the money is only used in one region / country, it will not spread in all regions / countries, so we can say the point is that bitcoin is common because in all regions / countries many people use it.

it's true you say, because the name of the private property is private ownership without people who have it, if bitcoin is said to be private property of one country, it means that other countries are not allowed to have it, if for example there is an argument that bitcoin is privately owned.

[1Referee]

How bitcoin can be a private currency if it's not issued by any legal entity, individual, enterprize?

Counter question; how can a currency be private when it is issued by any sort of legal (central) entity? Their main priority is that they control every aspect of the network they operate, and that means being able to block/seize/censor money flows at will, or just because they don't like you. People really need to drop the idea that money has to be issued by a legal entity in order to be money or to have value at all.

With crypto everyone can issue its own money at will, and while I am not necessarily a fan of this due to all the garbage coins circulating right now, it's part of freedom and we should embrace that.

[KorakPawon]

Well ya, I agree with you. bitcoin is not a private currency since there lots of people use it, nor it is the world currency since bitcoin hasn't accepted in all over the world. So, it is a little bit complicated to categorize where bitcoin belongs to. Apart from this, the important point is, bitcoin is not a private currency with its nature.