[Can Someone Explain To Me The Difference] between bitcoin and something like WoW gold and similar virtual currencies? Why all the interest in bitcoin all of a relative sudden after decades of ignoring all the trade in other virtual currencies?
There are many important differences but I would say the most the most significant is one of simple trust. With WoW gold, Amazon coins, Facebook credits, or any other virtual currency to exist before Bitcoin you had to place your trust in the issuer of those tokens. This means that ultimately, their value is entirely dependent upon the fortunes and whims of that issuer. They could be discontinued, devalued, confiscated, or erased at any time and in a fashion beyond your control. As Bitcoin is entirely decentralized there is no such counter party risk. The protocols are open source and can only be changed by the collective agreement of greater than 50% of the total hashing (processing) power available to the network as a whole. Also, as there is no central server or organization that can be shut down it is highly resistant to coercion or seizure. Even if it were ruled illegal it would be nearly impossible for a government to completely restrict its use.