Privacy and privacy coins, do we really need these?

[Kusumo234 400]

I don't know what the advantages of privacy coin and cryptocurrency are, what are the advantages of coin privacy compared to bitcoin or altcoin litecoin, in my opinion, there is no difference between cryptocurrency privacy type coins or other altcoins, only those who understand programming can explain that

[Sapdrx 469]

Governments are trying to tax all assets. That’s why they are afraid of privacy coins. Because they cannot tax them.  That”s why we need these coins. 

[miskyming 1588]

I don't think we need privacy coins, you know all cryptos are untraceable, I still don't know of privacy coins, is this mean that we can not trace the transaction? and I've heard most of the privacy coins getting delisted in exchanges.

[Mandoy01 1196]

Privacy coins protect you from people who are monitoring your use of money or currency. But whether it will be used in illegal or legal activity will depend on the user and its not the privacy coins fault. Its just like the dollar or any other currency, money is not evil but the holder has the choice to use it in good or bad way.

[Grease Lightning 169]

Do you know that money can't be tracked? Then what's the difference between privacy coins and money? Why not just use money. The privacy coin is archaic, friend. It's time to welcome transparency.

[Kusumo234 400]

I do not know what the advantages of privacy coin are compared to bitcoin etc, but I have heard that privacy coins cannot be traced, but again, I do not understand what is meant cannot be traced, is not bitcoin also not traceable who sends and receives  coin, so, can friends explain about the advantages of privacy coins like xmr and zec.

[Brushless4500KV 4214]

On 10/6/2019 at 12:29 PM, dentolas said:

A lot of people say that privacy coins are meant for illegal activities and that we don't really need them as persons that seek privacy are the ones with something to hide.

I think that we should be able to choose the level of anonimity and privacy of our finance. Does this make me a dark lord exchanging diamonds? well, those guys have been using printed money for ages... and isn't printed money anonymous?

Privacy is not for illegal activities. Anyone has the right to hide his wallet balance and transactions. It is as important as hiding your phone number and address from others. Why should anyone be able to monitor your money transfer or see how much money you have? I think sometimes we really need to send money unnoticed. Scammers don't even need privacy coins, they mostly work with paper money.

[guatazoo 7150]

21 hours ago, rainten said:

Bitcoin will by no means have safety update code for exclusive reasons

But it will not have because there is no development person or team for bitcoin anymore.

[Brushless4500KV 4214]

Most blockchains are public which means anyone can see transactions inside them and track each wallet to see its full history. If you use bitcoin all the time, your transactions and the balance of your wallets are visible to the public. Some people prefer to be anonymous and don't want others to have access to their personal information. This is where the importance of private blockchain and privacy coins becomes clear. These coins will provide full privacy for you and no one can see how much money you have, how much you sent and how much you received.

[teminalibug 309]

26 minutes ago, lauki said:

BTC does no longer fullfill this objective, and indeed safety coins nevertheless seem gaps and keep advancing with the later introdution of the number one non-BTC-based MimbleWimble cash...

You are right, bitcoin have proved to have vulnerability and people can trace where transaction are coming from and where they are going to, so we need privacy coins as well as stable coins.

[Fadimah 191]

I don't think we need privacy coins. If they come into existence, there will be somethings that won't be traceable. And lots of crime will be committed with privacy coins.

[teminalibug 309]

On 2/12/2020 at 11:20 AM, Muhammad Muqadas said:

Yes we need this because of this this privacy help us to secure our account and money 💴 good privacy account can’t be hacked by the hacker as I know 

The accounts we sign up at, have nothing to do with privacy coins, you will still be exposed even of you use privacy coin on exchanges that have KYC and your email address.

[teminalibug 309]

58 minutes ago, titige said:

To me, that is often an apparently problem that most times continue to be undiscussed... Humankind esteemed it is protection inside the past, and with the superior age we are overlooking round it... The issue is that protection is one of the matters that makes a difference us to increase as people

The world we are going to live in the future privacy is important because, simple things could incriminate you. Privacy us the first protection.

[pathgutless 81]

22 minutes ago, lonviles said:

We nonetheless have it with bitcoin. One honest must be learned nearly it.

What? Bitcoin is a decentralized and public blockchain network, their transactions can be seen by everyone in this world, please think before posting.

[Iqraali 59]

On 10/6/2019 at 2:05 PM, hexwin said:

We do need privacy coins, but we can also use privacy based wallets for Bitcoin.

This is alternative way to make transactions private for Bitcoin also.

I am agree with you and your opinion i have same opinion like you . This is alternative way to make transactions pri9 for bitcoin also

[Victor Lopez 143]

privacy is one of the best things that bitcoin has, you can have total anonymity when making your transitions

[silvergain 271]

digital currency is still developing and vulnerabilities have been found in most privacy coins. there are a lot of new ones that explore combination of techs or new tech, but these are still brand new and have a lot to prove

Trusting a third party is the same you do when you use fiat banks. perhaps if there is a third party, there's always the probability of leaking infos or demands from the government requiring that docs

[Afrina akter 1]

BTC code has many possibilities, notonly money, but seems they have beenfocusing on just that... maybe on the future, we can also see a privacy upgrade?

Private coins are good but if the corporateadoption doesn't grow with those coins they will never ever be mainstream like Bitcoin. If you are in for the moon shots, lambos etc, private coins are probably not going to give you those. They are good for hiding your wealth away from the governments probably.

Private coins are good but if the corporateadoption doesn't grow with those coins they will never ever be mainstream like Bitcoin. If you are in for the moon shots, lambos etc, private coins are probably not going to give you those. They are good for hiding your wealth away from the governments probably.

[ProjectJourneyman 170]

What we do NOT need are halfway private coins trying to jump on the bandwagon.  Coins that offer optional privacy are not privacy coins in any way.  The numbers how that the limited use of the privacy features render the transactions that attempt to do so very transparent.

MimbleWimbleCoin is a pretty good option though.  It's very similar to BTC, except some major improvements like that it implements the MimbleWimble protocol.

[guatazoo 7150]

On 2/15/2020 at 9:37 PM, khairul001 said:

Why do we need privacy / anonymity on the blockchain? ... there are very legitimate reasons why privacy coins should exist.

But the government seeing them as a threat to national security because they are completely untraceable.

[Cryptominded 704]

On 10/6/2019 at 10:41 AM, 1millionClub said:

Private coins are good but if the corporate adoption doesn't grow with those coins they will never ever be mainstream like Bitcoin. If you are in for the moon shots, lambos etc, private coins are probably not going to give you those. They are good for hiding your wealth away from the governments probably.

It is not a one traffic thing as it can also be the other way - governments using privacy coins to hide their loots from prying eyes or risking sanction. At any rate, a good tool remains a good tool, even though some unscrupulous people might turn it to a tool to accomplish their evil thoughts.

[BitcoinTurk 207]

Yes, we need cryptocurrencies that have the principle of confidentiality and used in this direction.  If such crypto currencies were not available and all crypto currencies were followed, crypto currencies would have no difference from today's banking system.  These kinds of cryptocurrencies are needed for people to hide their assets and their savings.

[Rickso 768]

On 10/6/2019 at 10:59 AM, dentolas said:

A lot of people say that privacy coins are meant for illegal activities and that we don't really need them as persons that seek privacy are the ones with something to hide.

I think that we should be able to choose the level of anonimity and privacy of our finance. Does this make me a dark lord exchanging diamonds? well, those guys have been using printed money for ages... and isn't printed money anonymous?

For those with nothing to hide, Facebook supporters, etc... why don't you broadcast all your passwords online? oh... privacy issues....

BTC does not fullfill this goal, and even privacy coins still show holes and keep evolving with the recent introdution of the first non-BTC-based MimbleWimble coins...

To me, this is an interesting subject that most times remain undiscussed... humanity valued it's privacy in the past, and with the digital age we are forgetting about it... the problem is that privacy is one of the things that helps us to grow as individuals

Well, there are many points of view on this, so I would like to see yours 🙂

yea most of people use privacy coins only for privacy, but some people use them for illegal things.

but, there is big but, when the authorities that are tracking you (yes, you all are tracked. if when you bought crypto you did the KYC procedure, then they know which wallet are yours and which movements you made) see that you are starting hiding your transactions with privacy coins, even if you are doing this only for your privacy, they will see the worst thing so for them you are doing something illegal and then you will need to give them a lot of explanation.

 

so, for me, privacy coins are not needed and they will also fall

[pathgutless 81]

Individual coins are exact however on the off chance that a corporate reception doesn't ascend with its monetary forms, they can't be standard like Bitcoin. In the event that you are for moon shots, lambos, and so on., individual coins are most likely not going to give you them.

[pathgutless 81]

mystery coins are faultless however in the event that the corporate appropriation doesn't increase with people coins they will not the slightest bit perpetually be standard like Bitcoin. On the off chance that you are in for the moon shots, lambos and so forth, favored coins are without a doubt not accessible to give you those. They are bright for concealing your riches missing from the legislatures most likely.