Privacy and privacy coins, do we really need these?

[entrepreneur 634]

I think that you can be anonymous with bitcoin already, because there are tumbling services out there that will mix your coins and send them from different addresses, so I think that you do not really need a privacy coin, because there already are.

[Goyaa 2414]

I don't need privacy coins, nothing is hidden from me. For me profitable coins are the best, privacy coins will only give a bad image to other cryptocurrencies because they are used as an illegal activity.

[mzk7736 1592]

In the countries which have their regulations regarding crypto currency, privacy coins can be very useful. But in most of the countries privacy and non privacy coins are almost same.

[Guru2050 8284]

It's more profitable compare to ordinary currency, privacy coin is highly volatile which gave an ample opportunity for gaining double of what is invested, privacy will therefore be more reliable, safe and secured from cyber security attacks

 

[Cleaner 2549]

On 10/6/2019 at 7:16 PM, cryptosix said:

yes privacy is needed and privacy coins too as we see there are few that are new to the market, Bitcoin is not a privacy coin as I read on forums. Some privacy coins allow to delete the transaction too so that no one can know who traded and how much etc.

Coinjoin method can solve more privacy of a transaction. Privacy is useful for large investors, but not for us like small traders.

Exactly  @cryptosix...The crypto world needs privacy.  If you do not keep privacy in the crypto world, you may fall into the trap of scams.  Because there is no shortage of hackers in the crypto world.  So we need privacy.  Privacy is the key to staying safe in the crypto world

[Froshk 1828]

There are some important situations that requires extra security and these is only achievable by employing the use of adequate security, these privacy coins offers an extra security that is needed in such situations 

[Sarahden111 1231]

For example, there is the zcash currency, which is a distinctive currency with complete privacy for its transfer and transmission, and therefore a large section will prefer to use it, and this matter will pay for its high price additional to its split feature and limited number, as well as the Libra currency, but it is the interface of several problems with the government regarding this feature.

[Amiami 1362]

On 10/6/2019 at 3:59 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 🙂

 Unfortunately in the world of cryptocurrencies, the stigma or rather the stereotype prevails that all those who use anonymous currencies are people with a fraudulent origin, but following that logic, then XRP users are fallen angels, just for using a network centralized? What if I decide to buy millions of XRP from an individual and I launder money? It is silly to think that evil is limited to some currencies, privacy is important more than some believe

Edited November 15, 2020 by Amiami

[Ramz99737 1196]

I think we need the privacy of the coins, because now so many hackers will just hack the peoples wallet, and they try to hack the systems of the peoples and withdraw the coins from that wallet and then they withdraw and no one catch them.

[1qDan 478]

Day after day what is the concept of privacy is being forgotten, since simply by opting for it can be misinterpreted, private currencies are simply something that the system needs and satisfies a need, they should not necessarily be used in illegal matters.

[Raqeebzy 6456]

There is need for privacy coin apart from illicit activities I must admit although personally, I have not find a need to use them. Sometimes, transaction need to be hidden to be safe from the bad eyes of online trackers and cyber criminals.

Hence the use of coins like monero. 

Government however are so much against the privacy properties of any cryptocurrency due to misuse in money laundering and purchase of illegals.

[setifien 1016]

On 11/15/2020 at 2:37 AM, Amiami said:

 Unfortunately in the world of cryptocurrencies, the stigma or rather the stereotype prevails that all those who use anonymous currencies are people with a fraudulent origin, but following that logic, then XRP users are fallen angels, just for using a network centralized? What if I decide to buy millions of XRP from an individual and I launder money? It is silly to think that evil is limited to some currencies, privacy is important more than some believe

I agree with you, some people are judging coins and their users based on false prejudices without knowing the exact aim of this or that use; a faudseter would use any coin (even fiat currencies) to do his illegal activities, anf if he uses a privacy coin, then it's not the mistake of that coin (or its creator), it's the fault of the fraudster exclusively 

[Steffqing 77]

Privacy-sensitive coins actually have no other use case than to hide out traces of any transaction we make or out current financial details. The use case on its own is fraudulent because many people try to hide their financial statement to dodge being taxed. I really don't support their use case

[TimopheyKa 3900]

I think it's about decentralization. of course, if we are engaged in trading, and only we know about it, then i like this approach, because it will protect us from most problems, as well as opportunities that would require higher interest rates. Of course, anonymity is good, but do not forget that it also has its own risks!

[Muhammad Mujtaba 229]

It is not a bad thing to have a privacy, but it is a wrong thing to use that privacy in a illegal way. But somewhere you have to invest some thing and keep its privacy, it is not a wrong thing. Everyone has their own privacy. If someone is in danger, then keep their privacy. But it is a risk not to keep the privacy of Facebook password or tell it to everyone because if other people make your account using their own without your permission , all the illegals will do any work, now all the debris of that will come on your head. Comparing with Facebook and digital currency is also stupid thing. Everything always has its own place 

[Hanbal 359]

Privacy coin has it negative effect but not who used privacy coin are considered a dark alloy some people use it for a security reasons now what do we mean by privacy coin? is a coin which encrypt every transaction that it executed and the user is not known and the wallet address is not known because of it features that is why illegal element use it to commit illegal activities examples of the top privacy coin are zcash, dash, and monero.

[Teminali69 1081]

On 11/30/2020 at 9:12 AM, Evils33 said:

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?but everyone should be able to do it if it chooses to, a hard task if we are aiming to billions users.

There are rules in printing paper money, and there is always something backing the price, but crypto changes all that because anyone can decide to create his coin without permission or any legal procedure to follow.

[Ab.Waheed 978]

I don't use privacy coins this time and i also don't want to use it in my future. I am using privacy wallets to get my bitecoin which i am earn by doing our work at this forum. I really happy by this. Everyone want to know that the privacy coins have fees. If you want to practice it firstly you pay its fees then start to use privacy coins. 

[Lx-Lana 153]

Well, the truth is if they do bad things or not they should not pay too much attention, bad things are always present, I especially like it very much, especially Moniro, it is a coin that is used even deeply and even widely.

[bogdanoff 3173]

Privacy is very important human right, and also will save you from a lot of trouble. Online KYC is dangerous, it is very different from giving your identity to your bank to open an account. The bank has very good security and usually protects the customers. Also will cover for any theft that wasn't a mistake of the owner. It is a system that as it works today it is safer from having to give identity to a crypto exchange or any website there is. For me this is a big threat.

[huesca123 946]

Privacy is a constitutional right in many countries, regardless what the politicians say. Saying that a person likes his privacy & has something to hide is BS. Thats is the same as saying free speech shouldnt exist, because nobody doesnt have anything important to say. Its all part of the new world order to shut up the masses. If you dont agree with what our leaders say, you should be banished / banned / shut up. Its a pity that so many people follow blindly what the politicians try to tell us what to do.

 

I really like monero & zcash because they are real privacy coins. The banks now, try to control & tell you how to spend OUR money. The banks think they know better or that OUR money is their money & they control it. The banks or governments dont have any rights or obligations to stick their noses in any bodies private business.

[100x 97]

Well said however most in facebook go ahead and give all their private details to a website just to chat with others, something that even Zuckenberg was laughing when he first started his website, or took if from the Winklevoss. Privacy is very important and we should protect ourselves online and in real life, not give but only the essential and avoid even that.

[joemcgwa 3227]

On 1/7/2021 at 3:00 PM, Fkka said:

Different policies make it harder for them to survive and many are not too strict about its future. But we need privacy and because it is our rights and private currencies play an important role in this.

But when we talk about privacy how is bitcoin any less private than monero or other so called privacy coins are, how do you know?

[Alesxa 292]

hello . Private coins are good but if the corporate adoption doesn't grow with those coins they will never ever be mainstream like Bitcoin. We do need privacy and it's our right and private currencies plays a vital role in it . Privacy is everything . Hence why i like crypto, nobody knows whats in my wallet but me and Some privacy coins allow to delete the transaction too so that no one can know who traded and how much.