I'm not sure whether I'd prefer Bitcoin to be considered a currency or a commodity. I'm sure there are strong for/against arguments that I could find on Google, but (in the purest expression of HN-as-crowdsourcing) would really appreciate a curated list of blogs, papers, theory, opinions, etc.
It is interesting to see policies made in regards to Bitcoin vs. making a policy for all virtual currencies of similar type. I guess the main reason for focusing on Bitoin is that without naming Bitcoin you are forced to create a well defined definition of what virtual currency you are referring to which will probably happen later on down the line.