In Jeff Garzik's interview on CBSnews online June 8, he described bitcoin succinctly as:
"a decentralized electronic currency with no central bank" and "a worldwide currency". So that's what it is.
Well, I am just one person blathering my own opinion.
Until there's a court case or other precedent or an administrative ruling, all we have to go on [in the USA, where I live] is
the experience of BitcoinUSA. BitcoinUSA apparently receiving guidance pointing them to the 2009 FinCEN administrative ruling on stored value.
Will lawyers, rather than laypersons such as myself, call it a commodity, currency, virtual good or other, ultimately?
I have no idea, and your input on that subject is certainly welcome and encouraged on these forums.