People need to stop calling Bitcoin "a virtual currency" - page 2.

Harley997

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Quote from: EternalWingsofGod on July 06, 2014, 03:38:17 AM

Quote from: CEG5952 on July 06, 2014, 03:35:40 AM

Honestly, I don't really care. This is playing with semantics. If you want to get technical, crypto-currency, sure. But I don't see what all the fuss is about to be honest. What am I missing?

Seperation required to define World of Warcraft Currency and In Game Tokens Virtual Currency
From Bitcoin and cash based ones Digital Currency/Cryto

Virtual currencies in games like WoW do have some level of value, just not very much.

bg002h

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Quote from: JoelKatz on July 06, 2014, 06:33:27 AM

Quote from: roslinpl on July 06, 2014, 06:26:19 AM

Indeed. And as it was mentioned before word "virtual" mean something "not real"-virtual.

The "virtual" in "virtual currency" means acting like the corresponding physical object, but having its attributes created and maintained by the operation of software, just like in the terms "virtual reality" and "virtual machine". I don't particularly like the term "virtual currency" because it doesn't really describe any interesting or meaningful distinction between, say, Bitcoins and dollars. One can make physical Bitcoins, and most dollars are virtual.

As a regulatory specific term, it looks like FinCEN has already defined it.

As a general term, I don't use it. I use digital or crypto currency.

TEDmachine

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The US dollar is also a digital currency, by the way.

elasticband

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bitcoin is a payment protocol, it is most likely not a currency, virtual or not.

LiteCoinGuy

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In Satoshi I Trust

Quote from: roslinpl on July 06, 2014, 06:26:19 AM

Quote from: EternalWingsofGod on July 06, 2014, 03:12:29 AM

Quote from: Erdogan on July 05, 2014, 03:08:04 PM

Virtual is the wrong word. Cryptomoney or cryptocurrency. It is about time that cryptography comes into the limelight.

Yes, crytocurrency or digital currency is correct term
The term virtual is not very accurate compared to those two.

Indeed. And as it was mentioned before word "virtual" mean something "not real"-virtual.

Bitcoins are 100% real and when you exchange them into $$$ they seems so real too :-)

That's why virtual currency term should be used only in a case where coins are truly virtual and have no real value in the world of economy.

not in dollars, in real value like a house or something. dollars are just cheap paper.

Aswan

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Quote from: Biodom on July 05, 2014, 02:07:59 PM

The Bitcoin Foundation and community as a whole needs to step up to educate regulators to STOP using the derogatory term "virtual currency" as EU banking authority described it.

Bitcoin, litecoin, etc are digital or cryptocurrencies.

Try making just ONE bitcoin yourself and see how "virtual" it is.
It is absolutely certainly requires much more work than minting or printing $1, and I am not even talking about making a $1 by some ledger adjustment at the FED.

Calling it virtual sounds like Fiat currencies aren't virtual when in fact they are.

JoelKatz

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Quote from: roslinpl on July 06, 2014, 06:26:19 AM

Indeed. And as it was mentioned before word "virtual" mean something "not real"-virtual.

The "virtual" in "virtual currency" means acting like the corresponding physical object, but having its attributes created and maintained by the operation of software, just like in the terms "virtual reality" and "virtual machine". I don't particularly like the term "virtual currency" because it doesn't really describe any interesting or meaningful distinction between, say, Bitcoins and dollars. One can make physical Bitcoins, and most dollars are virtual.

roslinpl

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Quote from: EternalWingsofGod on July 06, 2014, 03:12:29 AM

Quote from: Erdogan on July 05, 2014, 03:08:04 PM

Virtual is the wrong word. Cryptomoney or cryptocurrency. It is about time that cryptography comes into the limelight.

Yes, crytocurrency or digital currency is correct term
The term virtual is not very accurate compared to those two.

Indeed. And as it was mentioned before word "virtual" mean something "not real"-virtual.

Bitcoins are 100% real and when you exchange them into $$$ they seems so real too :-)

That's why virtual currency term should be used only in a case where coins are truly virtual and have no real value in the world of economy.

E-valuta

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Amazing how so many peeps here can be so blind for the future. It's e-currency, rofl, how hard can it be.. its not cryptocurrency Cheesy

"hold on, ill send a cryptomail to my friend and ask him"

EternalWingsofGod

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Quote from: CEG5952 on July 06, 2014, 03:35:40 AM

Honestly, I don't really care. This is playing with semantics. If you want to get technical, crypto-currency, sure. But I don't see what all the fuss is about to be honest. What am I missing?

Seperation required to define World of Warcraft Currency and In Game Tokens Virtual Currency
From Bitcoin and cash based ones Digital Currency/Cryto

CEG5952

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Buy and sell bitcoins,

Honestly, I don't really care. This is playing with semantics. If you want to get technical, crypto-currency, sure. But I don't see what all the fuss is about to be honest. What am I missing?

EternalWingsofGod

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Quote from: PolarPoint on July 06, 2014, 03:28:13 AM

We all know Cryptocurrency is a much more accurate term for bitcoin, but for those who do not, "virtual currency" is an easier concept to grasp. I don't mind which term mainstream media uses, if they think their readers would respond to it.

True but a digital currency is something as easy to get as a virtual one
So this term makes as much sense for mainstream media use.

PolarPoint

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We all know Cryptocurrency is a much more accurate term for bitcoin, but for those who do not, "virtual currency" is an easier concept to grasp. I don't mind which term mainstream media uses, if they think their readers would respond to it.

gondel

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Quote from: Biodom on July 05, 2014, 02:07:59 PM

The Bitcoin Foundation and community as a whole needs to step up to educate regulators to STOP using the derogatory term "virtual currency" as EU banking authority described it.

Bitcoin, litecoin, etc are digital or cryptocurrencies.

Try making just ONE bitcoin yourself and see how "virtual" it is.
It is absolutely certainly requires much more work than minting or printing $1, and I am not even talking about making a $1 by some ledger adjustment at the FED.

That is very much true. Virtual currency is a currency used in some facebook game or diamonds in wath ever online game . We are really talking about digital currency, the term virtual is no more valid for BTC

EternalWingsofGod

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Quote from: Erdogan on July 05, 2014, 03:08:04 PM

Virtual is the wrong word. Cryptomoney or cryptocurrency. It is about time that cryptography comes into the limelight.

Yes, crytocurrency or digital currency is correct term
The term virtual is not very accurate compared to those two.

btcxyzzz

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Monero - secure, private and untraceable currency.

You're right, it's not just derogatory, it's wrong too. There's absolutly nothing virtual about cryptocurrencies. E-Currency is good term, and even Internet money is ok. But I think maybe the best describing term is cryptocurrency.

thresher

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Really

What is next?
"I have a dream that ltc, dogecoin, and darkcoin, can all be called crypto coins, and not alt coins."

Justin00

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hmmm never really thought about this.
I guess 'virtual' is more kinda in-game perhaps... like warcraft or whatever people play these days..

were as 'digital' is more.. well.. not virtual.. and just digital and lives.. errhmm online ? hmm kinda like the virtual in game money, but more real :p

bg002h

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I outlived my lifetime membership:)

Quote from: roslinpl on July 05, 2014, 05:24:17 PM

Quote from: bg002h on July 05, 2014, 05:08:59 PM

I agree and use the terms crypto and digital similarly.

There are dozens of turn of the century crypto / non-crypto digital currencies. (If you want to learn a bitbabout the history, check out my history lectures here: https://www.udemy.com/bitcoin-or-how-i-learned-to-stop-worrying-and-love-crypto/ )

Thanks for the link.
This seems very interesting.
There is quite a lot to listen and learn for listeners - good job.

+10 for doing those 6 sections. (I see you are just about to record SECTION 5: Bitcoin Wallets - that will be very interesting I need to ask you a question about those records - PM sent)

I will listen to some of them for sure.

Regards.

I can only take credit for a few of the lectures. The lion's share of the work belongs to Charles Hoskinson.

ShakyhandsBTCer

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It's Money 2.0| It’s gold for nerds | It's Bitcoin

I think that arguing about if it is appropriate to say that Bitcoin is a "virtual currency" is a lot like arguing what the definition of "is" is.

It is considered virtual because it only "exists" on the internet (blockchain) and cannot be touched. The term currency is used loosely to mean that it can be used to purchase things.

Topic: People need to stop calling Bitcoin "a virtual currency" - page 2. (Read 2863 times)