Quote from: chessnut on March 26, 2014, 08:33:12 AM

Quote from: Erdogan on March 26, 2014, 08:23:18 AM

Quote from: Richy_T on March 26, 2014, 03:07:39 AM

Quote from: shmadz on March 26, 2014, 01:59:56 AM

And here I thought you were just some silly dude who tried to ban twitter by blocking DNS, but I really like the way you put that.

I will now steal it for my signature. Thanks Erdogan Wink

Actually, "Virtual currency" is pretty correct for Bitcoin. There are no bitcoins, only the transfer of bitcoins.

How can you transfer something that does not exist? Makes no sense.

Well bitcoins dont exist..... essentially one doesnt receive or send bitcoins, one just changes their identity in the block chain. but we just use the term transfer because that's what it's like.

This is precisely why I like the term "cryptomoney". bitcoin has more in common with the stone money from the isle of yap than it does with what we would consider currency.

You may be correct that we don't actually transfer bitcoin, but rather we transfer proof of ownership of bitcoin.

see http://en.wikipedia.org/wiki/Rai_stones