Is bitcoin a "private" currency? - page 3.

taxmanmt5

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Quote from: grondilu on February 25, 2011, 01:24:27 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.

Bitcoin is not a private currency but using of bitcoin is private for sure. Since its anonymous we can send or receive the a lot of money without giving any data or identity. Bitcoin is a public currency even AtMs are build in some countries many hostel schools are accepting it there's no chance of calling bitcoins as a private currency. Maybe you're calling it private because they're not exist physically but its internet currency and everyone is welcome to use it

G-richy

newbie

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Bitcoin is never in away a private currency it generally used by does have the knowledge of it in cryptocurrency.
Nobody talk about cryptocurrency without involving bitcoin because its one of the highest coin.

LOVEUMUM

newbie

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Whether private or public all that i know is that it is all about bitcoin and nothing else.

kiedis

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BTC is not private. All your transactions are public, so eventually (when you somehow spend your coins) you can be connected to certain address. However, if traded cautiously, you may remain anonymous.

Anyway, I would not care about it - BTC was not meant to be private - there are other coins that are private (Monero, Privcy).

Jackolantern

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I think that it is better to use btc because it can provide you with the confidentiality. To my mind, this is a good way to earn money and at the same time to benefit from many other advantages

ExpediteStyle201

newbie

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Obviously bitcoin is a privet currency and government doesn't have any control over it. and which is not governments property is call private property.

Zre

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Since BTC is not controlled by any particular employee. In my opinion, this is the currency of people, which is not controlled by any particular institution / person. Its price is determined by the mechanism of supply and demand. if it becomes a world currency for the future, because of the good value

KingScorpio

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Quote from: grondilu on February 25, 2011, 01:24:27 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.

bitcoin is a private currency as its ownership and controll lies mainly one the miner cartels tht run it.

especially the huge ones like bitmain.

oanhphong

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I think in the year 2020 when Bitcoin replaced cash to settle things we could call Bitcoin a "private" coin. Bitcoin is highly secure, transactions do not contain personal information, it is hidden on the system, allowing security of information users avoid identity theft.

MosaicRack14

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Of course we can consider bitcoin as privet currency because those thing which we can not called public all of those are privet and bitcoin is totally a privet currency.

L lawliet

newbie

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maybe because not many know bitcoin, it's not common and some forbid it

bajingluncat

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btc is not a private currency nor does it belong to the government, but btc is a digital currency that belongs to anyone who joins cripto, there is no limit to whoever it comes from is all the right to own and use btc, so I think btc is better called currency global, whose scope is broader compared to cash

Jackolantern

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I don't think that it is a private currency, What do you mean when saying like this? To my mind, this is the best currency ever which is available to everyone and you can invest in it anytime

kniheant

newbie

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for me, 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.

Demanderoca

newbie

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It depends on how you define privacy for Bitcoin. Anyone can use bitcoin and earn from it that makes it public. But, the identity of the people who are using and created were private. Overall, bitcoin as a currency is not private, it can be directly converted to physical currency and get it.

pebakova

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Bitcoin is the future of the world economy and the currency that will capture the whole world of the user and it will be paid in every country in the world !

DrGuns4Hands

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Quote from: grondilu on February 25, 2011, 01:24:27 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.

Well, I am in contradict. When we talk about bitcoin - much to say that it is "private" currency. Take a look, you may have the reason to think that it is a national currency because everyone could own it; however, if we would have tried to look, the only reason that makes the assumption false would be the basis on of who are the owners of bitcoin. Most probably, the one who can hold is the one who is also an investor of bitcoin. If we used logic, all people could be an investor, but not all people can win investment. Some people can be an investor; thus making him a private holder and as such used bitcoin for private - as in a private currency. Not all can be used bitcoin in a national currency such as it can be controlled by a government agency.

Getmon

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Quote from: grondilu on February 25, 2011, 01:24:27 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.

It depends on how you take the word private. Private could mean Bitcoin is ours, privately-owned by us. That is in contrast to fiat money which is essentially not ours. Fiat could be in our possession but it is never ours. It is owned by the government, the central bank in particular. If the banks consider our money illegally-earned, they could easily freeze our account and get the money from our individual accounts. Bitcoin is different. It is a private property once it is already ours.

pat4cryptoreal

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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.

Ains_sama

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bitcoin is a public currency with personal control, personal rules. if bitcoin is a private currency, the public will not use it. everyone can use Bitcoin with their own rules. so it's like a letter, you can see the cover but can't see and read the contents. very easy with the rules themselves.

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