petition: official currency code for Bitcoin (BTC?)

David Gerard dgerard at gmail.com
Mon Nov 12 10:17:19 UTC 2012


On 12 November 2012 10:08, Daniel Pocock <daniel at pocock.com.au> wrote:


> Actually, as a long term investment, it could be argued that anything is
> a pump-and-dump scam.


This is the fallacy of argument from worse consequences.
http://rationalwiki.org/wiki/Not_as_bad_as


> However, if you put aside the `investment' arguments and look at it as a
> means of payment, how does it stack up?  In the long run, is it better
> to pay 6-7% in a combination of fees and exchange rate commission when
> using a credit card for foreign currency purchases, or is it better to
> use something like Bitcoin?


It's certainly true that we could do with a means of funds transfer
that isn't subject to the skimming and interference of the credit card
companies and PayPal. Rick Falkvinge has written a bit on why he likes
BitCoin for this purpose, and what its problems are; those interested
in the topic should read:

http://falkvinge.net/2011/05/29/why-im-putting-all-my-savings-into-bitcoin/
http://falkvinge.net/2011/06/04/bitcoins-four-hurdles-part-one-usability/
(and parts two, three and four)


> I don't want to belittle your point of view - it is always good to look
> at any new inventions with a critical eye, especially when money is
> involved.  But what do you see as safer alternatives to Bitcoin?


This is the politician's fallacy:
http://en.wikipedia.org/wiki/Politician%27s_syllogism "We must do
something; This is something; Therefore, we must do this." Your
question does not imply an answer of "FSFE must therefore lend its
good name to Bitcoin."


- d.



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