Post
Topic
Board Bitcoin Discussion
Topic OP
Stop calling Bitcoin 'virtual' or 'digital' currency.
by
Jace
on 03/06/2013, 23:18:39 UTC
In many discussions and explanations, Bitcoin is typically referred to as a "virtual" currency. This often seems to be interpreted as somehow "less real", especially by people who are new to Bitcoin. As if it's some kinda magical fantasy bogus money from cyberspace. To a lesser extent, the same goes for "digital". Even in 2013, there are still people who think "not tangible = not real" (makes me wonder: are bank accounts not real?)

I hereby urge you all to stop doing this. By introducing Bitcoin this way, you impose an unnecessary interpretation for people that really doesn't help to get a correct grasp of what Bitcoin really is.

Yeah, I know, Bitcoin is mostly digital. Well guess what: so are the Euro and Dollar. People traditionally call fiat money "hard cash", but almost every single Euro and Dollar in existence (more than 99%) exists only digital. And just like WoW-gold, they are literally created at whim by some issuing authority out of thin air, at the press of a button, in any volumes they see fit. How "real" is that? Doesn't work that way with Bitcoin. So in fact, Bitcoin is less virtual than Euros or Dollars or WoW-gold.

And besides, do these look virtual or digital to you?



So, Bitcoin is "free" (as in speech) money, that doesn't require banks, and cannot be controlled, seized, restricted or issued by some government, company, FED, central bank, or any other authority. But it sure as hell ain't "virtual". It's just as real as the internet, email, bank accounts and credit cards.

Thank you.