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Author Topic: Virtual Currency being called Digital Currency and vice-versa  (Read 1211 times)
Stephen Gornick (OP)
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December 14, 2010, 05:20:24 AM
 #1

The recent PC Word article described Bitcoin as a "decentralized virtual currency".  I believe the description would have been more correct if the term used was "digital currency", as Bitcoin's FAQ describes it.

I then read about Facebook Credits which were labeled as "digital currency".
  http://www.variety.com/article/VR1118028888?refCatId=1009
Facebook Credits can accumulate but funds are one way, they can only be spent within facebook (e.g., on e-cards and for Farmville Cash).

  Is this a mis-use of the term digital currency, or is there a blurring of the line between the two.

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kiba
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December 14, 2010, 05:22:44 AM
 #2

What's the difference between virtual and digital goods?

FreeMoney
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December 14, 2010, 05:38:02 AM
 #3

There is virtually no difference imo.

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jgarzik
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December 14, 2010, 09:50:15 PM
 #4

To a lawyer, I would describe bitcoin as a digital commodity.

To a layman, I would describe bitcoin as digital cash.

Jeff Garzik, Bloq CEO, former bitcoin core dev team; opinions are my own.
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