GreenCoin: Environmental Solutions with Incentives
The Bitcoin community supporting environmental causes is nothing new. Just a few months ago Genercoin was released by Arterran Renewable Fuels. The basis of Genercoin was a new biofuel developed in the Arterran labs. Each Genercoin represented a certain amount of the fuel, based on British Thermal Units (BTUs). One Genercoin might be worth 10,000 BTUs for instance. But a new development is completely different and might have a significant effect on carbon emissions. The new coin, called GreenCoin, offers incentives to alternate energy businesses for reducing their carbon footprint. Their....
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Getting companies, and even governments to become more conscious of carbon emissions is hard, to say the least. With no incentive to really become eco-friendly, and no one to really push them to become eco-friendly, companies will stay the same. That’s where GreenCoin comes in. Carbon emissions are a global problem which requires a global solution. Government intervention has attempted to provide various solutions though, to date, these efforts have had limited effectiveness due to the fact that any one national government lacks global authority, and collectively there is an inability to....
Bitcoin’s incentives are clear and fair, while proof-of-stake has contrasting incentives that are the same as the current system where the rich get richer.
Over the past years, Bitcoin has raised concerns on the environmental impacts of crypto mining, and as the Lightning Network and other crypto innovations come to life, the time has come when they have figured out some solutions to the question… how will Bitcoin work when environmental impacts are mitigated? “Crypto Has A Carbon-Intensity Problem” […]
Twenty-three U.S. lawmakers have called on the U.S. Environmental Protection Agency (EPA) to increase oversight of cryptocurrency’s environmental impacts. “We request that the EPA evaluate ‘Proof-of-Work’ mining facilities’ compliance with environmental statutes,” they said.
Lawmakers Want More Oversight of Bitcoin Mining Industry
U.S. Representative Jared Huffman (D-CA) and 22 other Congress members jointly sent a letter to Environmental Protection Agency (EPA) Administrator Michael Regan regarding cryptocurrency mining operations....
When examining why people acquire bitcoin, we find different incentives, more based on preservation of the network than “getting rich.”