People need to stop calling Bitcoin "a virtual currency" - page 3.

roslinpl

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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.

bg002h

donator

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I outlived my lifetime membership:)

Quote from: roslinpl on July 05, 2014, 04:37:20 PM

Quote from: bg002h on July 05, 2014, 03:47:13 PM

September, 2013, Bitcoin Foundation to Federal Election Commission: "Bitcoins are often referred to as 'virtual currency.' The Bitcoin Foundation prefers the term 'digital currency.' "

https://bitcoinfoundation.org/blog/wp-content/uploads/2013/09/Bitcoin-Foundation-FEC-filing-CAF-Advisory-Opinion.pdf

Virtual currency is a term defined by FinCEN; it encompasses digital currencies, tokens, pre-paid gift cards, etc I suppose...

…"virtual" currency is a medium of exchange that operates like a currency in some environments, but does not have all the attributes of real currency. In particular, virtual currency does not have legal tender status in any jurisdiction. This guidance addresses "convertible" virtual currency. This type of virtual currency either has an equivalent value in real currency, or acts as a substitute for real currency…

http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html

This seems like an answer to the problem.

Well I must tell that I was saying about the Bitcoin that it is a "virtual currency" as some people understand this term better than "digital currency" when you want to explain what Bitcoin is.

But nowadays I used to say "cryptocurrency" - is a 'digital currency' really the best choice as Foundation prefers that one or is it just a matter of what we like to say better.

I think both terms seems good.

Crypto currency
Digital currency - in both cases name include a deep meaning of what it really is.

Maybe we should split them together and say Digital crypto currency

What do you think about it?

Regards.

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/ )

roslinpl

legendary

Activity: 2212

Merit: 1199

Quote from: bg002h on July 05, 2014, 03:47:13 PM

September, 2013, Bitcoin Foundation to Federal Election Commission: "Bitcoins are often referred to as 'virtual currency.' The Bitcoin Foundation prefers the term 'digital currency.' "

https://bitcoinfoundation.org/blog/wp-content/uploads/2013/09/Bitcoin-Foundation-FEC-filing-CAF-Advisory-Opinion.pdf

Virtual currency is a term defined by FinCEN; it encompasses digital currencies, tokens, pre-paid gift cards, etc I suppose...

…"virtual" currency is a medium of exchange that operates like a currency in some environments, but does not have all the attributes of real currency. In particular, virtual currency does not have legal tender status in any jurisdiction. This guidance addresses "convertible" virtual currency. This type of virtual currency either has an equivalent value in real currency, or acts as a substitute for real currency…

http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html

This seems like an answer to the problem.

Well I must tell that I was saying about the Bitcoin that it is a "virtual currency" as some people understand this term better than "digital currency" when you want to explain what Bitcoin is.

But nowadays I used to say "cryptocurrency" - is a 'digital currency' really the best choice as Foundation prefers that one or is it just a matter of what we like to say better.

I think both terms seems good.

Crypto currency
Digital currency - in both cases name include a deep meaning of what it really is.

Maybe we should **join them together and say Digital crypto currency

What do you think about it?

Regards.

**Edited : I wrote "split" instead of "join"

MrBea

sr. member

Activity: 242

Merit: 250

Bitcorns

I think most people dont understand the difference between digital and virtual.
https://www.google.com/url?sa=t&source=web&rct=j&ei=FG64U5z4HsiOqgby6YDIDA&url=http://m.youtube.com/watch%3Fv%3DRnTQhIRcrno&cd=1&ved=0CBwQtwIwAA&usg=AFQjCNED5Ot0BG5NerrZT5X7XBzAr4vO9A&sig2=olwbfAWn1Yd6AlH410AJMw

cbeast

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Let's talk governance, lipstick, and pigs.

People need to stop caring about Bitcoin as a currency, virtual or otherwise. It is far more valuable as a protocol.

ajareselde

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Satoshi is rolling in his grave. #bitcoin

Quote from: Malin Keshar on July 05, 2014, 03:56:57 PM

The biggest problem with the name virtual currency , for me, is that it suggests that BTC can only be used to internet and web based stuff and business, while we all know that it can be used to physical stores and in day-to-day trades.
Virtual is not an offense since the internet boom.

I believe OP tried to say that refering to bitcoin as a digital currency will somehow magicaly make it imune to bank/gouvernment bashes.
Virtual or not, it doesnt realy matter, what matters is the point of argument will allways be bitcoin, until regulation is implemented.

btcton

legendary

Activity: 1302

Merit: 1007

"Virtual" just reminds me of money in online games, mostly MMOs. It has the connotation that it is one-way (that is, you pay fiat for them but can't convert them back to fiat). They also make you think they can't be used for anything outside of a limited environment, which obviously isn't the case with bitcoin.

Malin Keshar

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Activity: 616

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The biggest problem with the name virtual currency , for me, is that it suggests that BTC can only be used to internet and web based stuff and business, while we all know that it can be used to physical stores and in day-to-day trades.
Virtual is not an offense since the internet boom.

bg002h

donator

Activity: 1466

Merit: 1048

I outlived my lifetime membership:)

September, 2013, Bitcoin Foundation to Federal Election Commission: "Bitcoins are often referred to as 'virtual currency.' The Bitcoin Foundation prefers the term 'digital currency.' "

https://bitcoinfoundation.org/blog/wp-content/uploads/2013/09/Bitcoin-Foundation-FEC-filing-CAF-Advisory-Opinion.pdf

Virtual currency is a term defined by FinCEN; it encompasses digital currencies, tokens, pre-paid gift cards, etc I suppose...

…"virtual" currency is a medium of exchange that operates like a currency in some environments, but does not have all the attributes of real currency. In particular, virtual currency does not have legal tender status in any jurisdiction. This guidance addresses "convertible" virtual currency. This type of virtual currency either has an equivalent value in real currency, or acts as a substitute for real currency…

http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html

commandrix

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The problem with using the term "virtual currency" is that it could also be used to describe credit cards and the money people have in their Paypal accounts (which isn't us, right? RIGHT?!). I've been using "cryptocurrencies" and "altcoins" pretty regularly when I talk about it, because when I don't have time for a lengthy explanation, it's easier for me to say, "They're sorta like Bitcoin."

Erdogan

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

E-valuta

member

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E-Currency. Ofcourse. E-mail and now E-currency. Digital Works as well but short Version is e-currency. Cryptocurrency sounds too scary for Public adoption, and geeky.. will never be used by the masses. Just as much as People digital mail crypted mail Cheesy

Ron~Popeil

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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.

I have thought about this some myself. Calling it virtual makes it sound like it isn't real. I prefer crypto currency which sounds real and has much more of a coolness factor.

Biodom

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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.

Topic: People need to stop calling Bitcoin "a virtual currency" - page 3. (Read 2863 times)