Is it possible to move/open the terminal window to the right of the screen? That would allow me to optimize the editor spaces to work in more efficiently.
In vscod
View > Appearance > Toggle Panel Position, which hides the panel, does the trick for me.
It also saves the state so that next time it opens the Terminal to the right.
As of the end of 2017, there is a button to do that: click on icon on the top right "Move to right" (if you don't see it, resize you windows).
Edit 2020: This answer is no longer correct for the new version, see @ΩmegaMan's answer (in brief: right click on the terminal bar)