Sometimes, we dont want people knowing what we have purchased. Bitcoin is a relatively private currency. On the one hand, it is transparent thanks to the blockchain, everyone knows how much a particular bitcoin address holds in transactions. They know where those transactions came from, and where theyre sent. On the other hand, unlike conventional bank accounts, no one knows who holds a particular bitcoin address. Its like having a clear plastic wallet with no visible owner. Everyone can look inside it, but no one knows whose it is. However, its worth pointing out that people who use bitcoin unwisely (such as always using the same bitcoin address, or combining coins from multiple addresses into a single address) risk making it easier to identify them online.