Bitcoin Forum

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 (http://www.currency-iso.org/iso_index.htm) via email on office@currency-iso.org 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,

...

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

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

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 (http://reuters.zendesk.com/home) and Bloomberg http://www.bloomberg.com/about/contact/ (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.

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?

+1

Done.

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


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

Perhaps it's been said before, but … currency symbol BTC implies that it belongs to the Kingdom of Bhutan (http://en.wikipedia.org/wiki/Bhutan).  Something like XBC sounds more sane to me (execpt it is already in ISO 4217 (http://en.wikipedia.org/wiki/ISO_4217)).

Cheers,

Many currency codes can imply a different interpretation. Just stick with BTC as it is not used by others and used extensively throughout the community.

For people that would like gnucash to support BTC, see https://bugzilla.gnome.org/show_bug.cgi?id=648627 (https://bugzilla.gnome.org/show_bug.cgi?id=648627) for contributing a patch providing BTC as a user defined currency.

Also added BTC as non-ISO curency on Wikipedia https://secure.wikimedia.org/wikipedia/en/wiki/ISO_4217#Without_currency_code (https://secure.wikimedia.org/wikipedia/en/wiki/ISO_4217#Without_currency_code)

Let's see what the wiki nazis say…  ;)

Cheers,

There is now a new thread on this topic, much more up to date:

  https://bitcointalk.org/index.php?topic=123600.0

and a petition has been started on change.org to get the ISO to act:

  http://www.change.org/petitions/six-interbank-clearing-include-a-symbol-for-bitcoin-in-iso-4217

++

sign the petition and tell your friends to as well :D

Find a small country that will adopt Bitcoin as its currency and then re-apply to the ISO.

On the Wikipedia page it lists BTN as the symbol for Bhutan. BTC is currently not used.
XBC on the other hand is actually already in use.

How about XBT? It appears to be not in use by ISO.

I think I made a thread about this a couple years ago ... https://bitcointalk.org/index.php?topic=29061.0

how sweet

signed, thanks for starting this

So, what the status of this activity now?

As far as I understand, last information is: that we were declined two years ago by the following reasons:

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.

Since then drastic development and improvements in Bitcoin did happen.
So, answers on these reasons now:

1. It is not a problem because the same situation with gold but it has his own codes: XAU and 959.

2. Again, answer the same like for N1: gold is not used for tender in any country but it has codes.

3. There will be international payments denominated in Bitcoin.
I have an answer from regional SWIFT director of one of major international bank: he says that they would be interesting
to implement Bitcoin in SWIFT messages if it would have it's own ISO currency code.

4. In August this year Bloomberg started Bitcoin ticker with temporary code XBT in their internal terminals.

Who did submit the request and who should resubmit it now?
Probably Bitcoin Foundation?

This seems a good guess to me: if someone is in touch with them I suppose the issue should be brought to their attention.

Sorry, for the gravedig, but major reporting organizations are now talking about Bitcoin.

Ill send them an email, i'd say we will get ISO status in no time,

There was definitely a movement pushing for XBT that I believe started making significant headway.

http://www.coindesk.com/bitcoin-gaining-market-based-legitimacy-xbt/

And yes, Bloomberg and other news outlets have been using it.

XBT makes the most sense and should be used all around.

BTC is Bhutanese coin because BT stands for Bhutan.

X is allocated for all types of currency (and some commodities) that do not belong to one specific country. XBC is already taken, so XBT would make the most sense.

So, everyone please stop using BTC and start using XBT.


For clarification, the first two letters are the country code: US(D), EU(R), GB(P), BR(L), except for currencies/commodities that are not specific to one country, they use only one letter, specifically the X, and no country can ever start with X.

X represents the Bitcoin cause very well, because it is international. Similar global currencies include XAU (gold), XAG (silver), XDR (international special drawing rights), etc. The letter is familiar to many in the financial community as an international token of value.

http://www.xe.com/currency/xbt-bitcoin

I have copy pasted the subject and sent the mail to office@currency-iso.org. But personally I believe that it would have been better to launch an online petition to the ISO. If we could gather like 100,000 verified signatures, then they won't be able to ignore us.