is bitcoin is a private currency

[crypto-dude]

Bitcoin is not a private currency because its blockchain is public, and transactions are not obfuscated.

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[sarfield]

Bitcoin is a currency that can be extracted for yourself and can be developed with market value, I think bitcoin is issued by the private sector and cannot be regulated by anyone. The holder may not be tracked but we can know the address of the wallet.

[senin]

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 cannot be considered a private currency in any way, if only because the person who created it or invented it has not been directly identified. Satoshi Nakamoto was not found either in Japan or in another state, and therefore no one has the right to claim its authorship.
Bitcoin can be considered a private currency only in the sense that, in all likelihood, it will be used primarily by private individuals, rather than legal entities.

[Biscutard]

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 cannot be considered a private currency in any way, if only because the person who created it or invented it has not been directly identified. Satoshi Nakamoto was not found either in Japan or in another state, and therefore no one has the right to claim its authorship.
Bitcoin can be considered a private currency only in the sense that, in all likelihood, it will be used primarily by private individuals, rather than legal entities.

Exactly, and that is how the private currency can be considered as private if there's a huge group of people are using it and not by the community. In fact blockchain is not a private ledger so therefore we can't call it as private if the people using blockchain could have been trace using that transaction ID.

[suprex333]

Bitcoin is not a personal currency and it will continue to rotate or change hands according to the wishes of the holder. Bitcoin has a high level of value than other coins and communities that are still loyal so that bitcoin currencies continue to be developed.

[Mhd-Bobbi]

As per Wikipedia, the definition of a private currency is as below,

"Private currency is a currency issued by a private entity, be it an individual, a commercial business or a nonprofit enterprise. It is often contrasted with fiat currency issued by governments or central banks. In many countries, the issuance of private paper currencies is severely restricted by law."

So as per the legal definition, bitcoin doesn't qualify to be a private currency. Bitcoin or any other crypto currency is mainly a new kind of currency whose legal definition is still not framed correctly. Definitely these are not private currencies by the definition. Private ICOs are more closely related to private currencies by definition where the tokens are issued and controlled by a certain company using a private blockchain.

Yes, you are right, sir
Bitcoin has no legal umbrella, and is not the same as paper currency, paper currency has the legal umbrella of each country, while bitcoin is not legalized and but is not prohibited from using bitcoin.

[sheenshane]

As per Wikipedia, the definition of a private currency is as below,

"Private currency is a currency issued by a private entity, be it an individual, a commercial business or a nonprofit enterprise. It is often contrasted with fiat currency issued by governments or central banks. In many countries, the issuance of private paper currencies is severely restricted by law."

So as per the legal definition, bitcoin doesn't qualify to be a private currency. Bitcoin or any other crypto currency is mainly a new kind of currency whose legal definition is still not framed correctly. Definitely these are not private currencies by the definition. Private ICOs are more closely related to private currencies by definition where the tokens are issued and controlled by a certain company using a private blockchain.

Yes, you are right, sir
Bitcoin has no legal umbrella, and is not the same as paper currency, paper currency has the legal umbrella of each country, while bitcoin is not legalized and but is not prohibited from using bitcoin.

It is prohibited when the government in your country hating crypto and banning this technology. Yes, cryptocurrencies are not yet legalized to all countries you couldn't call this as a private currency that you may have right to hold as long as you want. But, those countries did not have any law regarding crypto they are lucky enough and enjoy using this technology. We need more time to realize the government how useful these cryptos.

[deppil]

Bitcoin is not a private currency because its blockchain is public, and transactions are not obfuscated.

the definition of each user is different. I know that bitcoin is for the public because it is free to used by anyone but the definition of some people thinking that bitcoin is a private currency because they get privacy for their transactions in bitcoin. dont make this as a problem. this is only about opinion

[Faeton]

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.

From a legal point of view, Bitcoin cannot be considered a private currency because a patent for the invention of Bitcoin is not registered for any private individual.
However, Bitcoin can rightly be called a private currency in everyday conversations from the point of view that it will be used primarily by individuals. In my opinion, states and legal entities will not use bitcoin widely due to its high level of volatility.

[basyang]

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.

Yes I am agree with you. When you say private it means only limited persons can used that currency and it will not.be in public and it can be used in lots of transactions. Just like what you said Bitcoin is a world currency or a public currency which is many people can do used or earn to it. As of now, Governmeng can not applied taxes because until now they are research about it and it needs to be more popular in many countries

[Tagus45]

Although bitcoin has not yet received authorization from the government but that does not mean bitcoin is a personal currency, because the use of bitcoin is not limited to an area but bitcoin is widely accepted and used by people in various countries and will continue to grow using bitcoin.

[Denic197823]

Bitcoin is a coin created by several people and most likely an organization. Therefore, it is not private but belongs to an organization or government.