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Topic: is bitcoin is a private currency (Read 1016 times)
I think Bitcoin is not a private currency, not created by a private company, Bitcoin is not owned by a particular person or entity. No one has absolute control over the supply or release.
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.
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.
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
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.
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 
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.
"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.
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.
"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.
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.
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.
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.
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.
Bitcoin is not a private currency because its blockchain is public, and transactions are not obfuscated.
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.
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.
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.
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.
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.
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.
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..
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