Bitcoin is not a virtual currency!

[franky1]

whenever i do my sales patter to people i prefer the term digital as oppose to virtual.

as many people think 'virtual' as in FAKE / made up.. this is because people for decades beleive the word virtual reality to mean "fake reality" and not "computer based reality"

so saying digital immediately gives them the perception of it being computer based without that side thought of fake.

so i am also one of those which find it an easier sales pitch when using the word digital as oppose to virtual

[jaakkop]

src: http://oxforddictionaries.com/definition/english/virtual

virtual
Pronunciation: /ˈvəːtʃʊəl, ˈ-tjʊəl/

adjective
1 almost or nearly as described, but not completely or according to strict definition: the virtual absence of border controls
2 Computing not physically existing as such but made by software to appear to do so: virtual images

This thread was just begging for this. Sorry.

[slob]

Look at this CNET article from 5 hours ago. It uses virtual and digital interchangeably. But what is worse is that it says, "The virtual currency, which sprang up in 2009 to intentionally avoid the prying eyes of law enforcement and government officials..."

As if it's a money made for only outlaws.
 
http://news.cnet.com/8301-1023_3-57597505-93/bitcoin-is-a-legitimate-form-of-currency-a-federal-judge-rules/

[cryptocoinmkt.com]

We went offline for a couple of days to promote Bitcoin in local retail and discovered a general misconception in how Bitcoin is often presented to non-Bitcoiners:

Referring to Bitcoin as a 'virtual currency' is a misnomer!

As opposed to credit card, debit card or online payments in USD/EUR/Etc. which offer vouchers, either digital or analog, for possible exchange into fiat cash, Bitcoin, when used in its proper form, is actually non-virtual, i.e. real digital cash.

Many people within the Bitcoin community seem to misunderstand this important fact about the money we use!

Emphasizing on this fact also seems to spark retailers' curiosity when we talk to them.


BitcoinMoxy.com

Yap....I agree and have been thinking this from the moment I educated myself on Bitcoins.

All Fiat currencies, today are pretty much 1 and 0's in a computer and ledger database.  Most people do not carry cash now a days and do everything electronically (online, credit card etc.)

I thought what is the difference between Bitcoins and other crypto currencies to the fiat money system.  Not much difference except the physical representation of money... CASH.  And cash is going the way of the "do do bird" as well, and many banking institutions are pushing using your phone as a wallet etc..

So what is the difference between FIAT currency and Bitcoins/cryto coins...not much.

However, the establishment (Central banks) will try to convince the general public , that there is a big difference and control and manipulate the publics perception through the mainstream media....and the sheeples will follow.

Until more fiat currencies collapse and drive people to Bitcoins like Argentina, Cypress and soon other parts of Europe, then American dollars people will look to the status quo...and that is unfortunate.   

Here is a quote from an article:

"Realize, that modern fiat currencies are really nothing but “virtual digital money” anyway. Your bank account is nothing more than electronic ledger in your banks database anyway. So, BitCoins is not really much different, except that no more than 21 million can be created thereby maintaining integrity and preventing irresponsible government spending."

http://www.moneyaccumulator.com/770/the-bitcoin-debate-economics-vs-virtual-reality/

[areebmajeed]

Simply Digital money/Gold

[The Bitcoin Co-op]

This is a very good point I never stopped to think about. I think I have been saying digital all or most of the time, instinctively, though. However, while the definition of digital is indeed more apt a description of Bitcoin, and virtual does imply nonreality, I think it is very common to conflate the two terms. I bet you your average Joe reacts the same to either word.