Is bitcoin a "private" currency? - page 8.

Marlo Stanfield

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Quote from: FreeMoney on February 25, 2011, 02:22:15 AM

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.

Some people mean public to be government. In that sense it is obviously not.

Yes, it's obvious that it's a private currency when using the common public vs private distinction relating to government and non-government agents. So it seems OP is mostly getting hung up on a different definition of 'private' in this case.

Haryourmi

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Have you ever seen things being use by many a private thing. Bitcoin is neither a private nor a public currency, bitcoin is neutral.

Idowuogbo

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For any body to conclude either bitcoin is public or private need to understand d meaning of private and public. Private is something Belonging to, concerning, or accessible only to an individual person or a specific group,
Not in governmental office or employment. Not publicly known; not open; secret.
While public is Able to be seen or known by everyone; open to general view, happening without concealment.
Pertaining to all the people as a whole (as opposed a private group); concerning the whole country, community. From the meaning of public and private, I think one should be able to deduce if bitcoin should be categorize as private or public

Thefrolly

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You wont find a more public currency than Bitcoin in this world. Also what do you mean by private? Bitcoin is publicly available for anyone to purchase and is completely decentralized with no single organization or company controlling it. I guess it makes Bitcoin public enough.

Rodeo02

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Quote from: whoisyourking on July 04, 2018, 09:16:23 PM

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.

Your understanding about private and public is wrong word public in a country are the things that manage by the government and the word private in government is the thing that they not own it is usaully own by individuals so the bitcoin system is a private property.

true this is such a private property , well there is a lot of phase or an idea how they may look for whether this is a public or private you should learn the difference on it specially here in crypto currency define for it analyzed it , then this is a private property right.

kingkonjac

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a private means that the transaction of the coins and transfer are not traceable and are very suitable to be used in illegal activities. Those coins are getting bad reputation from countries but btc is not like that it is different and every wallet is traceable on the smart contracts.

indrakusumaindra

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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.

Yes its can be use as currency and anyone would accept it but i dont think i could make fair transaction using bitcoin, the votalilty makes it hard to do fair transaction and i dont think it could be use for daily transaction. Bitcoin is too complicated and i do think its good for an asset than currency ( atleast for now)

Herbys

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I consider Bitcoin a private currency, but it does not solve anything.

The dollar is not issued by a state-owned company, but it still remains a global currency.

Anamika143

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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 has never been considered as a private currency and in the future Bitcoin does not seem to be used in private. Since Bitcoin discovery, it has been used publicly since then. No person used to bitcoin work alone. Bitcoin can be used by everyone so it is a public currency. Bitcoin is not a national currency, but it can be called international online currency.

CoinXP

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Don't think so，not private at all...

Shirley Menezess

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It's hard to tell exactly. On one hand, Bitcoin isn't controlled by any private organizations or individuals. So it can't be called private. On the other hand, Bitcoin isn't government-backed and issued by government, meaning that it isn't public. However I think it's not that important to determine it's public or private.

nanaoriginal

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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.

Although the usage of Bitcoin is still low, it is used by people all around the world. Moreover it has received global recognition and attention.
Crypto holders are beginning to use Bitcoin in real life.

Tylev

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Bitcoin has never been and will not be a private currency in the sense that it can not belong to an individual. We only have the pseudonym of the developer - Satoshi Nakamoto, but he did not claim his right to bitcoin as private property. Therefore, bitcoin should be considered public domain.
Now bitcoin is used by society, everyone can use its open source code to create a new currency.

shashkova

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i dont think we can say if it is public or private, in some ways it itprivate specially when it just stays in your wallet ofcourse that is your property making it private, and in some other ways you can say it is public

Juggy777

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It depends on who you're and what's your perspective when you say public it could be inferred as a government coin, when you say private it could mean you're the government who thinks it's a coin for a select bunch of people. So this definition of bitcoins will change person to person and organisation some may even generally consider it either so choose to accept what you want.

tungaqhd

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I do not think that it is a private currency because everybody can buy, sell, hold and use it. It can be a private currency because of its anonymous transaction.

nvt2511

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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

whoisyourking

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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.

Your understanding about private and public is wrong word public in a country are the things that manage by the government and the word private in government is the thing that they not own it is usaully own by individuals so the bitcoin system is a private property.

Ozero

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Bitcoin is not a private currency, because no one can claim it. We know that it was created by a person or a group of individuals under the pseudonym of Satoshi Nakamoto. However, this person or persons actually remained uninstalled and do not pretend to be the inventor of crypto currency. Therefore, everyone knows that the crypto currency has no owner. Proceeding from this, it can not be considered the property of a certain person or persons, and therefore can not be considered private property. At the same time, bitcoin is created with open source code and everyone can use it to create their own crypto currency using bitcoin history. This also indicates the complete decentralization of bitcoin and the absence of its owner.

coinnumber

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Quote from: raybut37 on June 28, 2018, 06:58:24 AM

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.

Yes bitcoin is a common currency that accepted by so many countries world wide and aside of being a digital currency it can be used also as an investment and might become more profitable once the market price is increasing.
[/quote
To my observation and research Bitcoin is partially private because not everyone has access to it even here in the blockchain or crypto community many of us don't have bitcoin. According to the research I carry out it says that bitcoin is an unregulated digital private currency created by Satoshi Nakamoto in 2009. Though it's acceptable by some countries why many keep avoiding it to secure their economy and citizens.

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