This is actually Bitcoin. It is immaterial and intangible, but it does exist, and this is what Satoshi said and he did not lie to anyone. You deny the existence of Bitcoin because you cannot see it or touch it, but you believe in the existence of electricity even though you do not see it or touch it either??!!!
The era of money that can be touched by hand and carried from one place to another is over, when you own bitcoin you really don't own a tangible physical thing but only exists as data on the block chain and that's enough for everyone. As long as everyone recognizes it and accepts it as a means of payment, where is the problem then??