What's virtual about it? I can't tell from reading the article. Is it virtual merely because none of it will be coins or bills?
Do other such "virtual" currencies exist, i.e. virtual merely because they only exist in ledgers and bank balances? I mean, other than the vast majority of US dollars and other traditional currencies.
All this talk of virtual currencies reminds me of how Europeans viewed Chinese paper money with suspicion when it was first described in The Travels.
There are others, like Stripe is currently developing and the former e-gold, but none backed by any government that I'm aware of. Norway mentioned plans to abandon physical money altogether, but no specific mention of a new, virtual currency. It wouldn't be any time soon anyway.
Comments
What's virtual about it? I can't tell from reading the article. Is it virtual merely because none of it will be coins or bills?
Do other such "virtual" currencies exist, i.e. virtual merely because they only exist in ledgers and bank balances? I mean, other than the vast majority of US dollars and other traditional currencies.
All this talk of virtual currencies reminds me of how Europeans viewed Chinese paper money with suspicion when it was first described in The Travels.
Yes, most US dollars are "virtual" by their definition.
http://upload.wikimedia.org/wikipedia/en/5/58/MB%2C_M1_and_M...
http://en.wikipedia.org/wiki/Money_supply
There are others, like Stripe is currently developing and the former e-gold, but none backed by any government that I'm aware of. Norway mentioned plans to abandon physical money altogether, but no specific mention of a new, virtual currency. It wouldn't be any time soon anyway.