PowerSwitch Main Page
PowerSwitch
The UK's Peak Oil Discussion Forum & Community
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Solar Coin

 
Post new topic   Reply to topic    PowerSwitch Forum Index -> Solar Power
View previous topic :: View next topic  
Author Message
raspberry-blower



Joined: 14 Mar 2009
Posts: 1453

PostPosted: Thu Feb 13, 2014 9:13 pm    Post subject: Solar Coin Reply with quote

The solar PV industry meets Max Keiser!

Quote:
Solar Coin is a crypto currency specifically intended to stimulate solar energy production. Each Solar Coin represents the equivalent of 1 MW/hour of solar electricity. Coins can be obtained by mining like any other crypto currency, but the vast majority of coins, 99.4% of them, are reserved and held in non circulating accounts (wallets) to be exchanged for proof of production of solar energy, one coin for one MW/hour of electricity produced, certified by independent verification.


Article in full

Solar Coin website

This is an interesting development and one that could be adopted by other renewable energy sources. Whilst I hope this venture works, I can foresee "vested interests" doing the utmost to sabotage this..
_________________
A common mistake that people make when trying to design something completely foolproof is to underestimate the ingenuity of complete fools - Douglas Adams.
Back to top
View user's profile Send private message
biffvernon



Joined: 24 Nov 2005
Posts: 18551
Location: Lincolnshire

PostPosted: Fri Feb 14, 2014 12:01 am    Post subject: Reply with quote

Can somebody explain how it works?
_________________
http://biffvernon.blogspot.co.uk/
Back to top
View user's profile Send private message Send e-mail Visit poster's website
cubes



Joined: 10 Jun 2008
Posts: 565
Location: Norfolk

PostPosted: Fri Feb 14, 2014 4:32 pm    Post subject: Reply with quote

Seriously...?

Why not just give them cash instead of some token that's unusable?

Oh, hang on, they already get paid for what they generate.
Back to top
View user's profile Send private message
raspberry-blower



Joined: 14 Mar 2009
Posts: 1453

PostPosted: Fri Feb 14, 2014 8:31 pm    Post subject: Reply with quote

biffvernon wrote:
Can somebody explain how it works?


Does this help?
(Also a beginners guide to Bitcoin - worth checking that out just to get your head round the concept)

In short, it's a digital currency that relies on solar generated electricity rather than being backed by a precious metal such as gold. Which, considering all the gold has headed east and that the paper currencies are being relentlessly debased, its the only option left..
_________________
A common mistake that people make when trying to design something completely foolproof is to underestimate the ingenuity of complete fools - Douglas Adams.
Back to top
View user's profile Send private message
biffvernon



Joined: 24 Nov 2005
Posts: 18551
Location: Lincolnshire

PostPosted: Fri Feb 14, 2014 9:04 pm    Post subject: Reply with quote

So I've got solar panels, I've generated a MWhr, I send in my proof of generation (once they get the system working for the UK) and I get my coin.
Then what?
_________________
http://biffvernon.blogspot.co.uk/
Back to top
View user's profile Send private message Send e-mail Visit poster's website
RenewableCandy



Joined: 12 Sep 2007
Posts: 12469
Location: York

PostPosted: Fri Feb 14, 2014 9:45 pm    Post subject: Reply with quote

Then you go out and splurge your ill-gotten gains on Asparagus (well, it is Valentine's day Smile )
_________________
Soyez réaliste. Demandez l'impossible.
The Price of Time
BLOG
Back to top
View user's profile Send private message
biffvernon



Joined: 24 Nov 2005
Posts: 18551
Location: Lincolnshire

PostPosted: Fri Feb 14, 2014 10:43 pm    Post subject: Reply with quote

That's the bit I don't quite get. How do you exchange the solar coin for asparagus?
_________________
http://biffvernon.blogspot.co.uk/
Back to top
View user's profile Send private message Send e-mail Visit poster's website
cubes



Joined: 10 Jun 2008
Posts: 565
Location: Norfolk

PostPosted: Fri Feb 14, 2014 11:50 pm    Post subject: Reply with quote

You don't since it's probably extremely illiquid and nobody knows wtf it is. I guess it's someones idea to reward people generating solar electricity without actually spending money. Much like a gold star on a school report, you can boast at how many coins you have but apart from that they're useless (probably).
Back to top
View user's profile Send private message
Tarrel



Joined: 29 Nov 2011
Posts: 2447
Location: Ross-shire, Scotland

PostPosted: Sun Feb 23, 2014 1:08 pm    Post subject: Reply with quote

As global solar generating capacity increases, I'd expect the value of the solar coin to fall. So probably not a good store of value.

If we imagine a transition to smaller, less interconnected, more independent communities, I wonder how energy supply will work. Would a local market develop between members of the community and, say, the woodsman who has coppice-generated firewood for sale, or the guy who lives on the hilltop and has installed a wind turbine? Or would energy supply be treated as a community (i.e. "state-run") endeavour, with means of production being collectively developed, owned and managed by the whole community?

If the former, then some means of defining the value of the energy generated would be useful. (I doubt it would be internet-based though).
_________________
Engage in geo-engineering. Plant a tree today.
Back to top
View user's profile Send private message Visit poster's website
Display posts from previous:   
Post new topic   Reply to topic    PowerSwitch Forum Index -> Solar Power All times are GMT + 1 Hour
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Powered by phpBB © 2001, 2005 phpBB Group