[Foundation-l] EFF & Bitcoins

[robert_horning at netzero.net]

Actually, it is.  I expect Wikipedia to outlast the U.S. Dollar at least in some form, or at least stick around as long as literature like "The Oddessy" and "The Epic of Gilgamesh" and be a part of human culture longer than the civilizations that produced that literature.  Why would it be otherwise?  Something like Bitcoin may outlast these other world currencies too.

Also, these currencies can collapse and such collapse doesn't have to necessarily be a result of World War III and an epic version of Armageddon.  Computer networks transcend cultures and particular civilizations.  That doesn't mean times will be easy if those currencies collapse, but it doesn't have to mean that civilization has been completely destroyed.  BTW, I lived under a government that went through three different currencies during the relatively brief time I lived in that country.  I know what a collapsed currency is like from first hand experience, yet the country still exists as do its people.

I'm just pointing out that arguments about how something like Bitcoin is just "play money" apply equally to other more recognized fiat currencies and you are digging yourself into an intellectual hole if you try to defend them and bash alternative currencies.

-- Robert Horning


---------- Original Message ----------
From: David Gerard <dgerard at gmail.com>


On 21 June 2011 17:52, robert_horning at netzero.net
<robert_horning at netzero.net> wrote:

>  I'd be far more worried about the stability of currencies like the U.S. Dollar and the Euro as their basis in reality is even shakier than Bitcoins, yet the collapse of either or both currencies could substantially impact the WMF and the lives of most Wikimedians far more.


The Bitcoin system is robustly designed to continue past the collapse
of the US dollar and the world economy, as the Internet, fast
computers and reliable electricity are all expected to be readily
available when barbarian hordes are wandering the burnt-out
post-apocalyptic remnants of civilisation.


- d.



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