CCN reported yesterday on the Federal Reserve Bank of St. Louis's study results, presented in "The Case for Central Bank Electronic Money and the Non-case for Central Bank Cryptocurrencies."
In this report, the authors "characterize various currencies according to their control structure, focusing on cryptocurrencies such as Bitcoin and government-issued fiat money."
The diagram they present really helps to understand the dimensions of currency: physical or virtual representation, centralized or decentralized handling, and competitive or monopolized creation. This shows how bitcoin is different from existing currencies.