Is Bitcoin fully virtual and immaterial?

[HamalKattan]

Is Bitcoin fully virtual and immaterial?

[farhan236]

Bitcoins are sent and received to secure, virtual Bitcoin wallets. they're fully protected by digital signatures. This makes the transactions very secure. In fact, Bitcoin transactions are way more secure than several ancient kinds of banking.

[grabberfish]

Is Bitcoin fully virtual and immaterial?

As virtual and immaterial as mathematics, since that is really all bitcoin is.

[mjglqw]

Ofcourse it is. Its just a bunch of code. Unless you include bitcoin hardware and paperwallets.

[grabberfish]

Ofcourse it is. Its just a bunch of code. Unless you include bitcoin hardware and paperwallets.

It's more than that. My hardware and paper wallets are not bound to those devices of storage. A ten pound note, fistful of dollars, or an ounce of gold has a value intrinsic to the physical form of the value represented. With bitcoin I simply need the equivalent of the serial number of the referenced monetary form. That removes all physical constraints that we inherit from other tactile means of value exchange.

[Crixus]

It is virtual and immaterial, but you can totally buy some material stuff with it or exchange to fiat.