Is virtual money as good as gold?Comments Print Mail Large Medium Small Virtual currencies have attracted the attention of both the media and policymakers around the world recently.Although virtual currencies aren't especially new, the attention paid to them has been.Virtual currencies are those used in electronic, generally Web-based transactions.They are not issued by governments, which many view as positive at a time when confidence in governments is low.Attention has focused on bitcoins, the supply of which is determined by an algorithm.Demand for the virtual currency grew with the media attention and the exchange value of a bitcoin reached a peak of more than $1,200, although the value has subsequently dropped nearly 30 percent as speculation in the virtual currency has decreased since policymakers have started paying more attention to it.China recently banned financial institutions from trading bitcoins, and Norway has declared bitcoins to be an asset not a currency, which has important implications.

Former US Federal Reserve chairman Alan Greenspan described bitcoins as a "bubble", which also suggests that virtual currencies should be regarded as assets, because assets have bubbles, currencies become overvalued.Bitcoins are not the only virtual currency; others have existed for some time.Computer games often have their own currency, with players earning units of the currency or tools or characters through their skill at playing the game.In some cases, a virtual currency can be purchased using real-world money, which enables the calculation of a virtual to real-world exchange rate.This trade has been going on for at least a decade, and several governments were quick to note that income earned from such transactions should be subject to tax.So what are the key issues when it comes to a virtual currency?There are four questions to answer: 1 2 Next Page Related Stories Bitcoin transactions banned on Taobao Bitcoin falls on 3rd-party pullback China warns against use of Bitcoin Beware of the baneful Bitcoin bug Rising to the security challenges Russia faces tough road to success Joint efforts to meet challenges Is Vietnam safe?

Abe's dangerous move Forum Trends Forum trends: Cultural taboos in China Forum trends: Some "bad" habits I've picked up in China Forum trends: China's number superstitions How to make friends with foreigners Forum trends: You know you are in China when…(Part II) China's leftover women-intelligent and charming Forum trends: Why did you choose to live in China?Columnists How good a govt India has got New type of urbanization is in the details Featured Contributors Asia's increasing dependence on China Eat less, treat more Star Bloggers Getting old in China When you look into the mirror today, imagine what you would say ten years from now about today's you.It's technically a downward comparison with the future you Job-seeking tips for the gradutes Sometimes a small point could be more valuable, let’s check my job hunting experience and suggestions could be useful for you.Future of Western style education A western style education system and the media surrounding it teaches people - not just what to think, but what NOT to think - not just what to question, but what NOT to question.

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G2A Wallet G2A Wallet is a G2A PAY-integrated feature allowing you to accept and issue payments from many different sources and hold them on your G2A account for further processing of your choice.bitcoin ruling marchPay by Skins Pay by Skins is a payment method targeted at the gaming community.bitcoin nasdaq testIt allows players to issue payments with digital skins, based on their rarity and market values.bitcoin a gagnerPayPal PayPal is a American online payment system operating worldwide.bitcoin suedoisIt supports online money transfers and offers services to online merchants as well as auction sites.JCB A Japanese credit card company operating from Tokyo.Although,issued in 20 countries, it is accepted worldwide.

JCB cards are used in 190 countries every year to pay for services and goods.American Express One of the leading American payment companies, with legacy dating back to the 19th century.It offers credit cards, charge cards, and even traveller cheques, depending on individual needs.Discover Discover is an American issued credit card.It is currently the fourth largest credit card in the United States, and uses the Pulse payment system.Bitcoin Introduced in 2008, BitCoinis a payment system using chiefly a cryptocurrency of the same name.BitCoins can be exchanged for other currencies and used for secure online payments.Paysafecard Paysafecard is a secure and easy to use prepaid card.PSC is accepted by thousands of online merchants.Thanks to the 16-digit Paysafe PIN, it is very easy to use.Alipay Alipay is a China online payment platform and is currently one of the leading Chinese payment service providers.Among others,its biggest partners on the Chinese market are Taobao and Tmall.