Is bitcoin a "private" currency? | Bitcointalksearch.org

efxtrader

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Quote from: grondilu on February 25, 2011, 02:24:27 AM

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.

When i think about anonymity, i am thinking about we can create our own wallet without have to give any information about us. Not like a banks, we should give our information when opening banks but not with bitcoin.

Jcabudx

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What is a private for you? What is a public? Bitcoin is not a private currency because all over the world it is very well known currency on the internet, so how would you call that a private or a public? Bitcoin is more popular than other currency by nation.

Janation

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Quote from: rosemary4u on December 22, 2018, 07:59:24 PM

Quote from: pat4cryptoreal on August 27, 2018, 04:41:23 AM

I think why some people call is private currency is because it has not been accepted globally by central bank . To us investors, users and traders of bitcoin it is not a private currency.

Bitcoin is a public currency hence there is no doubt.We should all see bitcoin as an amazing another currency which is capable of being used as currency for all business transactions.

If you will just be doing a Google Research for Private Currency, you can know why.

First off, private money is a currency issued by a private entity, be it an individual, a commercial business, a nonprofit or decentralized common enterprise. Bitcoin is a crypto currency, hence it is a private currency since it is issued or developed by none other than Satoshi Nakamoto, the "private entity". It is also said that it is contrasted with the fiat currencies that is issued by the governments or central banks and Bitcoin is.

rosemary4u

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Quote from: pat4cryptoreal on August 27, 2018, 04:41:23 AM

I think why some people call is private currency is because it has not been accepted globally by central bank . To us investors, users and traders of bitcoin it is not a private currency.

Bitcoin is a public currency hence there is no doubt.We should all see bitcoin as an amazing another currency which is capable of being used as currency for all business transactions.

Joeyvicky

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I really get the angle of which you stemming your poin from buddy, some may attribute the word public which is a opposite to private as something that is of governemnet and in that sense we may consider bitcoin as private currency meaning it has nothing to do with government. IF that be the case then we mean bitcoin as private currency is for one person or and individual and that also serves as wrong impression for bitcoin because we control and determine the value of itbased on our level of transactions with it. To me is not a private anything.

drumamat

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Bitcoin, I would say not a private currency, but completely free! Any person from anywhere in the world can use it.I believe, private,, currency is the one that is used by a certain state.And bitcoin is a completely different currency that essentially has no boundaries.

rocko840

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It is in small amounts. I barely know any way to convert large amounts of BTC to fiat without showing my identity, so we can say that it's not fully private.

Jocuserious

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Bitcoin is a private currency said that in my opinion, because does not contorl by any countries government and people.even do not got tax cost anyone people and government.but unfortunately Bitcoin market volume can be contorl people and their buying/salesing processing.but most difficult to us so maybe it called a private currency.

2chase

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Bitcoin has never been an anonymous currency. Even during the times when the Silk Road website was actively working - there were programs with the help of which the FBI could very actively and effectively track drug sellers and buyers. Now these programs are perfected, and therefore there is no talk about any anonymity in the Bitcoin sphere.

ngocbkcse

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What is meant by that? Like private because bitcoin is independent from a government? In this case it would be private if the system belonged to one person. But it not like that. So it is public.

sikkan

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I don’t think bitcoin is public and it is not private either. It's a new and unique currency. It stand alone.

sampalokmix

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Quote from: grondilu on February 25, 2011, 02:24:27 AM

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 with this, but to think that it was independently running without the aide of government people seems to interchange bitcoin with a private currency, and clearly it was okay, but in reality Bitcoin is separated with government and should always be in the way that it will not be controlled by government but mainly be by the local people, which may be better since there would be no center of power here in this community.

Kuchiyose

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Quote from: BigBos on December 21, 2018, 09:37:08 AM

Quote from: A L I E N on December 21, 2018, 07:47:06 AM

Quote from: Inosend on December 16, 2018, 02:04:45 PM

It's call crypto currency, a kind of decentralized currency not that kind of private you think of though.

Here, I will support you. I do not think that Bitcoin can be called a kind of a private currency. It is the first decentralized crypto, protected well, safe and anonymous. I like BTC although it is not as fast as some alts.

of course not, sometimes people make cryptocurrency to trade, and it has an interesting function. well, it certainly isn't for private, even I think that it's not needed for a private project.

There are many ways you can make a profit in the crypto world if you are interested in finding out that. Holding the type of coin that has the potential to generate little profit for the next few months.

Snaic

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Quote from: grondilu on February 25, 2011, 02:24:27 AM

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.

Purely legally, the words "private currency" does not apply to Bitcoin and other decentralized cryptocurrency. Bitcoin does not belong to any individual. However, bypassing Bitcoin, I think, may eventually be called a private currency because, as it seems to me, it will be used primarily by individuals. It is unlikely that the states, their bodies and business structures will widely use bitcoin in their activities due to its high price volatility.

BigBos

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Quote from: A L I E N on December 21, 2018, 07:47:06 AM

Quote from: Inosend on December 16, 2018, 02:04:45 PM

It's call crypto currency, a kind of decentralized currency not that kind of private you think of though.

Here, I will support you. I do not think that Bitcoin can be called a kind of a private currency. It is the first decentralized crypto, protected well, safe and anonymous. I like BTC although it is not as fast as some alts.

of course not, sometimes people make cryptocurrency to trade, and it has an interesting function. well, it certainly isn't for private, even I think that it's not needed for a private project.

Showkat Hossain

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No bitcoin is not a "private" currency.

A L I E N

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Quote from: Inosend on December 16, 2018, 02:04:45 PM

It's call crypto currency, a kind of decentralized currency not that kind of private you think of though.

Here, I will support you. I do not think that Bitcoin can be called a kind of a private currency. It is the first decentralized crypto, protected well, safe and anonymous. I like BTC although it is not as fast as some alts.

Peacemaker1994

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I obviously agree with the OP on this issue. So many has made the mistake of thinking of bitcoin as a private currency probably because they know less about it

Inosend

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It's call crypto currency, a kind of decentralized currency not that kind of private you think of though.

Bennix

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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.

Topic: Is bitcoin a "private" currency? (Read 2436 times)