Relationship between the Virtual Currencies and the Real Money

网络虚拟货币作为一种新兴的媒体和交易管理工具，在整个交易系统中占有很大的席位。每当谈到的想法，虚拟货币将取代真正的钱，总有一天，一个负面的声音会一直哭出来，虚拟货币不能取代真实的钱，即使在最近几天的虚拟货币发挥越来越明显的作用。

The previous scholars and experts have conducted many researches about the relationship between the virtual currencies and the real money and they mainly focus on the increasing popularity of the virtual currencies and the decreasing frequency of the real money. What I would like to explore is the relationship between the virtual currencies and the real money and whether the virtual money can replace the real money.

First and foremost comes that though the virtual currencies that are currently popular like Ripple, Bitcoin, QQcoin as well as other forms can be used for exchanges and trading just like the real money, the precondition is that they are paid by the real money (Rajala, 2014). Or maybe it can be put in another way that the virtual currencies are just the network payment form of the real money and it is hard for them to be used as the real money in the daily life. It can be easy to understand in that the virtual currencies are endowed with value, but they can not be directly used for exchanging real items in the market. From this sense, we can say that the virtual currencies are not a commodity but a currency with limited functions. If you are one that has even engaged in the deals of the virtual currencies, you can quickly understand that usually the real money can be directly changed into the virtual currencies while the virtual currencies can not be that easy to change into the real money unless it is agreed by e-pals. We can say that the private transaction among e-pals can enable the virtual currencies to become the real money.

With the virtual currencies’ limited functions being mentioned at length in the above, what comes next at the list is that the virtual currencies, unlike the real money as is issued by the state unitarily, are issued by individual operators themselves and there are no concrete laws and regulations that have been published to limit its circulation (Foley, 2013. p30). When the virtual currencies are having a more and more frequent exchange in wider and wider scope out of private interests of business operators, they have actually increased the supply of the real money. And it is predicted that there is a growing trend for human beings to use the virtual currencies and it seems that the virtual currencies have to a certain degree replaced the real money to buy the commodity or labor in the market. Moreover, some virtual currencies have already evolved to contain several features of the real money, such as measure of value, medium of circulation, medium of payment together with other ones like that. Therefore the virtual currencies tend to exert impacts on the real money so as to affect the normal financial order (Castronova, 2014). And as there are no specific laws and regulations put forward for the management of the virtual currencies, it will totally be a mess if the virtual currencies have actually replaced the real money. It, in a way or another, will influence human beings normal transaction behaviors in the market so as to influence human beings everyday life and the government will as well be influenced out of the influence from the currencies.

Last but not the least comes that the only use of the virtual currencies can not satisfy the needs of the ones that have not taken part in the virtual world. Blankly speaking, if the virtual currencies have completed replaced the real money, then the old or the illiterate ones can not participate in the market activities as they do not know how to handle the network by themselves. We can have a fair knowledge that the world after the virtual currencies have actually taken in place of the real money, then the whole market will seem to be a totally strange world for them and they can not do anything within it (Kelly, 2015). It seems that the market around means nothing to them and makes no sense to them at all. The common sense tells us that such a situation will not be accepted and it will not be beneficial for the development of the whole society in the long run. It can not be denied that the appearance of the virtual currencies is an inevitable trend with the development of the world economy in recent years and the virtual economy is as well a new economy nowadays. Furthermore, if it can be well taken advantage of, then it will also be a huge wealth of human society. So the best situation is the combination of both the virtual currencies and the real money so that it can on one hand facilitate the development of the whole society and it can on the other hand consider the needs of all groups of people.

To sum up, the virtual currencies will not replace the real money and the aforementioned two will co-exist with each other to contribute to the development of the whole society in the long run. And such a state will be suitable for all groups of human beings and can survive all the time. At the final last, I have to admit that there are some limitations and delimitations in this paper due to my being inexperienced, which calls for your precious suggestions and great attention.

References
1. Brain, K. (2015). The Bitcoin big bang: how the alternative currencies are about to change the world. Hoboken, New Jersey: John Wiley & Sons, Inc.
2. Edward, C. (2014). Wildcat currency: how the virtual money revolution is transforming the economy. New Haven Connecticut: Yale University Press.
3. Liisa, R. (2014). Bit by Bitcoin: virtual currency ATMs coming soon to New Hampshire. New Hampshire Business Review. 36 (20).
4. Stephen, F. (2013). Virtual currencies run into legal trouble. The financial Times. May 31. p 30.


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