Quote from: Wesimon on April 16, 2017, 02:15:14 PM

Quote from: Anarchist on April 16, 2017, 11:46:18 AM

Quote from: AT-N-T101 on April 16, 2017, 06:41:24 AM

Bitcoin is not money, it's just a virtual currency that is not backed up by anything but users. In a short time he managed to develop very well, but the future is in doubt.

Here is the definition of "currency"

Quote

A currency in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money (monetary units) in common use

Bitcoin is a crypto currency using cryptography, the difference is bitcoin use decentralized control while others tradtionnaly are centralized electronic money

You had it all wrong! Currency and money are just often used interchangeably, but they are not the same at all. Based from your quote "...A more general definition is that a currency is a system of money (monetary units) in common use" clearly state that currency is a system of money and not the actual money itself

That's nitpicking at its best (or worst)

The notion of a system of money just refers to an abstract representation of the value of goods where this value is measured in some dimensionless unit. Since there are many goods out there, we would be necessarily dealing with a system consisting of an abstract table including values of different goods. A set of tokens representing this unit of account is called currency or money. There is absolutely no practical reason to draw distinction between money and currency