To a lawyer, I would describe bitcoin as a digital commodity.
To a layman, I would describe bitcoin as digital cash.
Topic: Virtual Currency being called Digital Currency and vice-versa (Read 1211 times)
There is virtually no difference imo.
What's the difference between virtual and digital goods?
The recent PC Word article described Bitcoin as a "decentralized virtual currency". I believe the description would have been more correct if the term used was "digital currency", as Bitcoin's FAQ describes it.
I then read about Facebook Credits which were labeled as "digital currency".
http://www.variety.com/article/VR1118028888?refCatId=1009
Facebook Credits can accumulate but funds are one way, they can only be spent within facebook (e.g., on e-cards and for Farmville Cash).
Is this a mis-use of the term digital currency, or is there a blurring of the line between the two.
I then read about Facebook Credits which were labeled as "digital currency".
http://www.variety.com/article/VR1118028888?refCatId=1009
Facebook Credits can accumulate but funds are one way, they can only be spent within facebook (e.g., on e-cards and for Farmville Cash).
Is this a mis-use of the term digital currency, or is there a blurring of the line between the two.
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