Suport Bitcoin currency code BTC in ISO 4217 - page 2.

Pander

newbie

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After positively challenging all four points, this is what I got back, unfortunately:

Quote

The EUR is linked to a country code (EU), Bitcoin is not.
The Bitcoin is a private currency, because there is no governmental institution or monetary authority supporting it. The point in case is not whether a currency is public or not (Facebook Credits are also public but would not get an ISO code either).
Finally, Bitcoin may not be denominated in any other currency.

We are therefore obliged to definitely decline your request.

Perhaps when Bitcoins are more mature and the market has grown, I hope they will pick it up by themselves.

RodeoX

legendary

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The revolution will be monetized!

Done.

Gavin Andresen

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Chief Scientist

Quote from: ?? on ??

In order to get the Bitcoin currency code BTC more widely supported, forget about ISO. Just use the code.

+1

Dusty

hero member

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Libertas a calumnia

Quote from: deadlizard on May 05, 2011, 04:08:01 AM

tender 1) v. to present to another person an unconditional offer to enter into a contract. 2) to present payment to another. 3) n. delivery, except that the recipient has the choice not to accept the tender. However, the act of tender completes the responsibility of the person making the tender.

So, does bitcoin satisfies that definition? I would think yes, isn't?

deadlizard

member

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Quote from: Dusty on May 05, 2011, 03:50:28 AM

I wrote to the specified address and this is their response:

Quote

2. The currency code is considered a 'private currency' and not used for tender in any country.

2) Is that a legal tender they refer to? What defines "tender" otherwise?

tender 1) v. to present to another person an unconditional offer to enter into a contract. 2) to present payment to another. 3) n. delivery, except that the recipient has the choice not to accept the tender. However, the act of tender completes the responsibility of the person making the tender.

Pander

newbie

Activity: 23

Merit: 0

I got the same reply.

1: agree, EUR is a good example
2: it is not privacy because everyone can use it, there are no conditions to exclude anyone so it is public
3: agree it is international
4: OK, well that is the power that it has no single point of failure, but that doesn't mean it is not a currency. However, it has a market, just a matter of time it is on Reuters and Bloomberg. We could ask Reuters http://reuters.zendesk.com/home and Bloomberg http://www.bloomberg.com/about/contact/ to also report on the market figures from http://bitcoincharts.com/markets/ Who has any idea how to go about that? Who is willing to take up that one?

Please challenge SIX Interbank Clearing (in a positive way) on all points. I will do the same.

Dusty

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Libertas a calumnia

I wrote to the specified address and this is their response:

Quote

Dear Dusty
We are not able to support the new Bitcoin ISO 4217 currency code, based on the following:

1. The currency code is not linked to any country code.
2. The currency code is considered a 'private currency' and not used for tender in any country.
3. There will be no international payments denominated in Bitcoin therefore an ISO currency code for the Bitcoin is not applicable.
4. The Institution responsible for the Bitcoin does not appear to be recognized internationally or have any official status. Neither Reuters or Bloomberg provides market data related to its use.

I would like to discuss each point to understand if this is debatable (I think it is).

For example:
1) Is it really necessary? For example: did the Euro have a iso code before being linked to any country code? Is "the world" a country where BTC can be linked?

2) Is that a legal tender they refer to? What defines "tender" otherwise?

3) it seems to me that every bitcoin transaction can be international by definition, and we have plenty of examples for that

4) that would be certainly very hard, but should that really be necessary?

Pander

newbie

Activity: 23

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gnucash maintainers told me to make this request as they will not support it otherwise. see also https://bugzilla.gnome.org/show_bug.cgi?id=648627

Pander

newbie

Activity: 23

Merit: 0

In order to get Bitcoin currency code BTC more widely supported (e.g. Unicode, gnucash, etc.) please request http://www.currency-iso.org/iso_index.htm via email on [email protected] to add BTC to the ISO 4217 list of Currency Codes. Below is an example email (please improve the text with some motivation if you like).

Dear madam, sir,

Please support the new Bitcoin currency code BTC in ISO 4217. For more information, see:
http://www.weusecoins.com/
http://bitcoincharts.com/markets/
https://secure.wikimedia.org/wikipedia/en/wiki/Bitcoin
http://www.bitcoin.org/

Yours sincerely,

...

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