Creative Commons Aotearoa New Zealand discussion

[Danyl Strype <strypey AT disintermedia.net.nz>]

Kia ora koutou

On 30 May 2011 13:38, Bennett Thunderguy <bennett AT thunderguy.com> wrote:
> The Quora answer is very negative but it makes the
> excellent point that Bitcoin isn't really a currency: it's an asset. But
> it's a purely virtual, decentralised asset that can be securely
> electronically traded, and that means it could be used as a currency one
> day. But not today.

Esoteric arguments about the textbook meanings of 'money', 'asset',
and 'currency' aside, BitCoin's usefulness as a currency is dependent
on
1) how many people will accept it as payment for things
2) how difficult it is to create new BitCoins

Since there are already vendors accepting it as a payment, and the
network architecture keeps the supply of BitCoins under control
(keeping the value from spiralling up or down), it seems to me that it
has potential as a way of trading online, or making microdonations,
which is where it becomes relevant to CC.

One of the key problems for musicians trying to make a living out of
freely distributing their music online is how to put out a
cyber-busking-hat. Sure, there are systems like PayPal, and credit/
debit cards, but these hit difficulties when you're trading between
countries with different currencies. Also, they often involve
transaction fees which make it prohibitive to do the online equivalent
of chucking a coin in someone's busking hat.

The Humble Indie Bundle
(http://en.wikipedia.org/wiki/Humble_Indie_Bundle) showed that it's
possible for artists (in this case game developers) to make a large
sum of money, by accepting small amounts from a large number of
contributors. With access to an online audience of millions, a kiwi
musician only needs the equivalent of 1 cent from a million people who
like a song of theirs to make enough money to survive for a year.
BitCoin offers a new mechanism for collecting that, one that avoids
the problems mentioned above (amongst others), which is why I thought
it worth posting about on the list.

The most interesting problem with BitCoin for me is the one Hamish
brings up. What happens when the bankers try to use the state to
maintain their monopoly on the means of exchange, the way the
entertainment corporations are trying it on? ;)

Hei kona

-- 
Danyl Strype
Community Developer
Disintermedia.net.nz/strype

"Business would like to be the definition of what is thinkable and
what is reasonable, and what's desirable. And anyone who doesn't agree
they would of course say is radical."
http://www.pigdog.org/interviews/stallman/interview_with_stallman2.html

"Allowing the university to be turned into the tool of business is
allowing it to be corrupted."
http://www.oss-watch.ac.uk/resources/Stallman.xml

- Both quotes by Richard Stallman