What is virtual currency?

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    Tuesday, November 07, 2017 at 01:00
    What is virtual currency?

    What is bit coin, in other words "virtual currency". It is "currency" of "virtual". First of all, even from "currency", as you can see from "coin", bit coin is money. Like yen and dollar, it has not changed to being "money". As "money", currency units exist like yen and dollar. The unit of bit coin is written as BTC (beaterie). It can be counted as 1 BTC (1 bit coin) like 1 yen or 1 dollar.

    However, as you can see from "virtual", unlike the yen and the dollar, there is no visual form visible to the hand. There is no coin which is written as "B" large. Bit coins are "currency" of "virtual".
    Common virtual currency example

    The easiest to imagine as a virtual currency is the currency in the online game. Paying yen and dollars, you get the currency used in the game, you can buy items at shops in the game where the currency used in that game is "usable". It is a virtual currency that can only be used in the game.

    There are other virtual currencies that can be used only on specific Web sites. There is a Web site that uses the mechanism to purchase 1,000 points at 1,000 yen when using registration and purchasing paid service at 1,000 points. It is a virtual currency valid only within the "usable" Web site for that point.

    Bit coins are similar. If you can get a bit coin, you can buy things and services where bit coins are "usable".
    What is a bit coin different?

    What is the difference between the virtual currency and the bit coin as introduced in the previous example? Actually, the reason why it exists is completely different.

    A virtual currency that can be used only within a specific game or website is made for each company, and by enclosing the user, it is possible to make the virtual currency operating entity (= game company or web site management company) profitable It is aiming.

    One bit coin is a virtual currency made to facilitate economic activities, like the yen and dollars operated on a national level.

    Bit coins are aimed at making it "usable" for daily life all over the world. Banknotes and coins do not exist because they are virtual currencies, but instead they are made to substitute personal computers and smartphones for your wallet so that you can buy and sell objects.

    Although it is still under development, it is a virtual currency aimed at the next generation currency that is more convenient, more stable, and available around the world than yen and dollar.

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