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I've heard some talk about a CO2 Coin before (one where a coin is mined by carbon capture). I'm sure there are all sorts of reasons why it would not work, but i
by SamBam 5y ago
I've heard some talk about a CO2 Coin before (one where a coin is mined by carbon capture). I'm sure there are all sorts of reasons why it would not work, but it would be the only kind of crypto I'd ever be interested in owning.
- missedthecue 5y agoA centralized CO2 coin would work. Drop off your CO2 at our depot and we'll deposit coin in your account. Not sure how you'd decentralize a physical process though.
- prakhar897 5y agoIt's already decentralized. U can give each other the CO2 capsule as a form of currency.
- kimixa 5y agoI have no idea how to do this without opening yourself up to near-trivial cheating either, as the validation of work isn't intrinsically linked to the actual effort like current crypto coin systems rely on. And if there's a centralized arbiter validating people's capture results, then you've just invented a centralized currency? Why have crypto at all? It sounds like carbon credits (with all it's failings) with extra steps.
- rzzzt 5y agoAlso runs afoul of the cobra effect -- people can burn more stuff to produce CO2, then capture and deliver it to retrieve coin.
- meowkit 5y ago> I have no idea how to do this without opening yourself up to near-trivial cheating either, as the validation of work isn't intrinsically linked to the actual effort like current crypto coin systems rely on. This is known as the oracle problem and is actively being worked on.
- tsujp 5y agoThere was recently a launch on the Ethereum mainnet for a carbon credit DAO called Klima. Might be worth checking out, I’m reading up on it myself.
- count 5y agoThere’s a book with this at its core - Ministry for the Future by Kim Stanley Robinson.
- andrei_says_ 5y agoI’m reading it right now. A fascinating exploration of how humanity may be able to act in the face of climate change. It doesn’t try to sugar coat things and I appreciate that.
- karteum 5y agoConsidering the absolutely huge CO2/environmental impact of BTC and other proof-of-work cryptos, talking about a CO2-coin for the purpose of CO2 sequestration sounds like quite a joke to me...
- SamBam 5y agoBut the whole point is that it's not a proof-of-work crypto, or at least not a proof of useless mathematical number spinning. It's based entirely on carbon capture. There are non-proof-of-work cryptos already out there.
- Uberphallus 5y agoThe more bitcoins you mint, the more carbon you can capture! Perpetual money machine!