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skeyo | 3 years ago

Now can we build a cryptocurrency that's mined by extracting CO2 from the atmosphere?

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Thiez|3 years ago

Wouldn't the most efficient way to mine such a coin be to be in an area with above average CO2 levels? Such as a closed room where you are burning oil/gas/wood? Have you heard of the cobra effect? See https://en.m.wikipedia.org/wiki/Perverse_incentive . Not saying what you suggest is impossible, but if it's possible to game the system I suspect it will be a net negative very quickly.

elihu|3 years ago

I think something like that would have to be manually audited by humans (i.e. you'd need to agree on a central authority who certifies volumes of carbon sequestered).

I was thinking the other day that maybe something that could be easier to objectively verify is something like a cryptocurrency where you generate a unit of currency when someone votes. Sort of like "I voted" stickers as a form of money. It's not a fully formed idea; I don't know how the logistics would work.

Bonus points if the currency as a whole is valued higher or lower based on individual voters rating their voting experience. Like, you ask them on a scale of 1 to 10 if they think they have a real voice in how their government is run. Thus countries would have an incentive to be democratic in a way that's truly responsive to the people and not just some kind of democracy theater.

dotancohen|3 years ago

  > I think something like that would have to be manually audited by humans
Such a body would refuse to audit e.g. Wikileaks or Syria or North Korea do to some political BS which has nothing to do with the issue at hand.

riidom|3 years ago

Carbonminers would probably rather produce CO2 so they can "extract" it at much higher rate, instead of using the one in the atmosphere.

Edit: Ups this was already said.

ge96|3 years ago

Recently there was that blue-algae powered computer. Wonder if that concept can be used. But at ocean scale.

vbezhenar|3 years ago

Make a government buying carbon. Like one cubic meter is $1000 or whatever cost would be interesting. Spend the money and bury those cubes in deep shafts. Let the market handle it.