Are species uniquely real biological entities? This question is one of the most controversial topics today in such areas of biology as ecology, systematics, conservation, population genetics, and evolution. "Species" currently play a central role in both theory and practice in these areas, and have a large place in the public's perception of biological diversity as well. This question can be decomposed into two parts: (1) Are species real, and in what sense? (2) If real, is their reality the same as entities smaller or larger than themi.e., are they real in a sense that genera or subspecies are not? This paper will briefly review historical and current opinions on these questions, but will primarily advocate one particular position that appears to fit biological reality as now understood: that species properly defined are real entities, but not uniquely real. The longstanding "species problem" can be solved by realizing that there is no such thing as species after all! The so-called "species problem" is really just a special case of the taxon problem. Once a decision is made about what taxa in general are to represent, then those groups currently known as species are simply the least inclusive taxa of that type. As I favor a phylogenetic basis for taxonomy, I want to look at how to include terminal taxa in the PhyloCode, currently a controversial topic even among PhyloCode supporters. In brief, my argument is: (1) life is organized in a hierarchy of nested monophyletic groups-some of them quite fine-scale, well below the level we currently call species; (2) not all known monophyletic groups need be named, just the ones that are important to process or conservation studies and that have good support; (3) those that are named taxonomically should be given unranked (but hierarchically nested) uninomials; and (4) formal ranks, including species, should be abandoned. I will conclude with a brief discussion of the implication of my position on species for academic studies in ecology and evolution as well as for practical applications in biodiversity inventories and conservation biology.But be warned, you who thirst for knowledge, be warned about the thicket of opinions and the fight over words.