What is Virtual Money? - page 6. | Bitcointalksearch.org

zais

full member

Activity: 196

Merit: 102

Quote from: goodpeople222 on January 27, 2018, 06:23:33 PM

About virtual currency, there are 03 different understandings:

Money is unmanageable, no physical shape and is used in electronic environments, it is called virtual money.
The type is not real value, not guaranteed by cash, gold, and valuable assets.
The money is usually used to pay for games in electronic games, each type of game has a different currency and they can not be used to exchange for each other or to bring out the electronic environment to buy. Other service products are.

The concept of virtual money is born, widely used and most often by the third interpretation itself. With this kind of money, the balance can be managed and easily changed by the issuer without affecting the financial or market economy.

virtual currency such as Bitcoin base system based on chain block or blockchain.
"So from publishing, transaction and record keeping are all recorded in decentralized blockchain networks, so everyone can run this block chain server," he explained.

amandavqm

newbie

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I found this:

http://bigthink.com/hybrid-reality/future-of-money-classifying-virtual-currency-systems

https://www.inc.com/magazine/201702/zoe-henry/real-money-fake-things.html

The second one is easier to understand.

Yankae

jr. member

Activity: 72

Merit: 1

I think it is not necessary to ask such question here.There are search engine so why bother posting nonsense question here.Everyone must learn to discover things by themselves and not always rely on others.I admit i am still new to cryptography but i didn't ask for guide here,try to ask with more sense and not something common.This just makes other members to post answers that already been answered by other member.

levvv

member

Activity: 532

Merit: 17

very well, virtual money is a money that stored in virtual form, no physical form like cash money.
your bank account is one of the example.
but bitcoin is more than just a virtual money. it is decentralized currency.

Gameroid

hero member

Activity: 798

Merit: 501

Quote from: Tim2412 on March 04, 2018, 06:10:49 PM

I understand virtual money as a virtual currency (digital currency or cryptocurrency) is an electronic currency that acts as an alternative currency that is neither government-funded nor backed by national currency.

Yes the digital currency that we can only use online can be called as virtual currency, which do not have any physical existence, we can only use it through internet for shopping and different purposes, we can use it any time and from anywhere in the world, we can use virtual currency for trading investing and for shopping online in any country without converting it into fiat currency.

Tim2412

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Merit: 100

I understand virtual money as a virtual currency (digital currency or cryptocurrency) is an electronic currency that acts as an alternative currency that is neither government-funded nor backed by national currency.

vanslyien

newbie

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What I've noticed is that most of the questions posted has a similar query. If you read well enough in other posted topics you would already know the answer. My point is, there are lots of things you can ask aside from which has been already answered.

Ondongeric18

jr. member

Activity: 140

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https://i.imgur.com/Wl0rfMA.jpg

In my understanding of virtual money. I think it is backed-up by real money. Not by gold though. As you can see people buy virtual money before they can transact business online. When they have to use their virtual money in the real world they would trade it back with real money as well. So it is backed up by real money as I can see.

ronaldsam

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it's a virtual money that's paid for the things you buy and it's also the most important people because this is the way people meet you. and this is what the nation recognizes as our money. Virtual currency, also known as virtual money, is a type of unregulated, digital money, which is issued and usually controlled by its developers (Bitcoin is an exception), and used and accepted among the members of a specific virtual community.

ThunderCatSteve

hero member

Activity: 770

Merit: 505

Quote from: goodpeople222 on January 27, 2018, 06:23:33 PM

About virtual currency, there are 03 different understandings:

Money is unmanageable, no physical shape and is used in electronic environments, it is called virtual money.
The type is not real value, not guaranteed by cash, gold, and valuable assets.
The money is usually used to pay for games in electronic games, each type of game has a different currency and they can not be used to exchange for each other or to bring out the electronic environment to buy. Other service products are.

The concept of virtual money is born, widely used and most often by the third interpretation itself. With this kind of money, the balance can be managed and easily changed by the issuer without affecting the financial or market economy.

Virtual Money are not only cryptocurrencies but cryptocurrencies are virtual money.
The word Virtual means something that is not touchable something that can be seen but can not be touched, the opposite of this is the real money that can be touched (cash). Bitcoin is virtual, even though we can print the paper wallet but we can't say that look this is one bitcoin because it isn't it is a paper that contains some keys some information that should be used online (virtually) to spend those money.
The same thing is the money that we have in banks, they are actually real but they show us as virtual like digits, we make online purchases without giving/touching the real money.

juliopirlo

newbie

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Merit: 0

Quote from: goodpeople222 on January 27, 2018, 06:23:33 PM

About virtual currency, there are 03 different understandings:

Money is unmanageable, no physical shape and is used in electronic environments, it is called virtual money.
The type is not real value, not guaranteed by cash, gold, and valuable assets.
The money is usually used to pay for games in electronic games, each type of game has a different currency and they can not be used to exchange for each other or to bring out the electronic environment to buy. Other service products are.

The concept of virtual money is born, widely used and most often by the third interpretation itself. With this kind of money, the balance can be managed and easily changed by the issuer without affecting the financial or market economy.

Virtual is defined as having no basis of physical reality.virtual currency has been defined since 2012 by the European central Bank as a form of currency without rules or regulations created and supervised by the developer for use by its specialized members of the virtual community

lance04

full member

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Merit: 112

Virtual money is a real money that occurs only in the internet. It is an intangible money that can be use in purchasing goods or making transactions. Central Bank is not involve in producing virtual money.

ace4549

sr. member

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Merit: 438

Virtual money is can be found in the internet. It is a real money with a real value but cannot be seen or touch.
Many people as of now use this because besides of being convenient to use, it has a higher value than to our traditional money that we are using.

1jaffa1

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Merit: 104

Convertible Virtual Currency usually has a measurable value in real money, but what makes it convertible lies in its ability to be exchangeable. But not all virtual currency can be exchanged for legal tender though, therefore, not all virtual currency is convertible.

Chanock

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Activity: 476

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Based on the European Central Bank virtual currency defined as "a type of unregulated, digital money, which is issued and usually controlled by its developers, and used and accepted among the members of a specific virtual community".In particular, virtual currency does not have legal tender status in any jurisdiction.

Also virtual currency is "a digital representation of value that is neither issued by a central bank or a public authority, nor necessarily attached to a fiat currency, but is accepted by natural or legal persons as a means of payment and can be transferred, stored or traded electronically".

Virtual currencies is only used in digital transaction. Also it is form of asset to the person who hold on it. Actually the virtual currency have a limited function as like I stated above it is only representation of value through encrypt formulation in digital transaction like stored and transferred.

Alfarizi

jr. member

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I think virtual currency is an invisible but high-value global currency that has a very easy way over the internet so that anyone can easily participate in a virtual currency or commonly called cryptocurency

BAHARU

newbie

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The virtual currency has been defined since 2012 by the European central Bank as a form of currency without rules or regulations created and supervised by the developer for use by its specialized members of the virtual community.
The US dept. Of treasurypada 2013 states more emphatically that virtual money is a 'tool of exchange that operates like a currency in certain environments, but does not have any attributes as a real currency' '. The key is the virtual currency attribute has no definition as a legal tender status. My language, virtual money has no valid intrinsic value to use as a price submission

allfriends88

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Activity: 560

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to my knowledge the virtual currency with the rest of the system is based on a chain of blocks or blockchain. So starting from the publication, the way the transaction as well as the recording of all decentralized networks listed on blockchain. So everyone can run servers block chain.

Zaidaskin

member

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Merit: 10

The money could not be arranged, there is no physical form and is used in an electronic environment, and for now, has not been used for the transaction.

yanifitri20

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Bitcoin is one of the largest virtual currency market capitalization. In addition to bitcoin, there is also ethereum, ripple, bitcoin cash, cardano, NEM, litecoin, and so on.
In addition to non-existent authority, virtual currency also has no official administrator, no underlying asset underlying the price of virtual currency, as well as highly volatile trading values that are vulnerable to a number of risks.

Topic: What is Virtual Money? - page 6. (Read 1426 times)