Post
Topic
Board Bitcoin Discussion
Re: What is Virtual Money?
by
megalith07
on 22/03/2018, 13:29:48 UTC
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.
Fiat and virtual money are same in some aspects and it is upon trust who doesn't have confidence in virtual nearness can't utilize virtual money. Something else is that fiat is upheld by commodities though virtual money is totally subject to technology which makes it not quite the same as normal fiat.