This is ART
@sophia i'm surprised that they don't describe the intentional devaluing of their currency by planting trees as "quantitative treesing"
@sophia going without meat for... a little under a week: exactly as good as installing solar panels
@BestGirlGrace someone would have to be with you to make sure you don't cheat, mind
@sophia I threw a brick at an oil exec and now I'm owed ten million ecobucks. the computers needed to mine all of it are causing more climate change than ever. I tell them to stop, and now I'm owed even more
@sophia This definitely seems like it was birthed at a "jam pad"
@sophia this is a goldmine O_O
@sophia this just looks like capitalism with extra steps.
@sophia just saw “tree owner” in your name and I cackled 🤣
@moritzheiber I have precisely 1 (one) tree and dammit I will flaunt my eco
@sophia WE‘RE LOUD, WE‘RE PROUD, GET USED TO IT!
@sophia yes... a closed system, no contingencies. brilliant
Well that clears everything up.
@sophia I honestly don't even have words.
@sophia If you don't stop with this nonsense I'm going to blockchain myself to a tree
@lastfuture how many eco coin do you get for that
@sophia a pinus rigida
@sophia "or exchanges trees for ECO"
...I thought you were being rewarded for having stewardship (whoops sorry "owning") trees, now you're exchanging the trees? is ECO foundation going to come take them away? I have so many questions
@theoutrider @sophia wait actually a good question... is the value of ECO dependent on us implementing perfect reforestation / actually expanding forest coverage of the planet? Are ECO coins being destroyed when a new housing development starts up and chops down a few acres of trees? Is Ferngully the mascot of ECO and if not why, and if so why?
Chopping trees down *increases* the value of one eco, by the same mechanics that limiting the supply of gold increases the value of an ounce. The perverse side effect of predicating this coin's value on the quantity of trees only has the side effect of motivating limited forestation, not full reforestation.
@theoutrider @tcql @sophia Yup. That's mostly why I made the observation that I did. They promise this cryptocurrency in the hopes of helping the ecosystem, but in the long run, it'll be counter-productive due to well-known economic incentives from existing currencies. I am entirely skeptical of the whole thing.
As long as ecos are used only for exchange of value, that works well (it's just a LET-System then). But, the words "initial coin offering" alone tells that they're looking for people to invest and (at least the founders) get rich, which means speculation and wild price fluctuations (vis-a-vis BTC prices over the years) are expected to happen.
@sophia please tell me it's a meme
@sophia "If you are a tree owner" is an incredibly funny phrase to me
doubly so because that's not some buzzword, they're talking about the wood things
@BestGirlGrace I own a tree and would like to know when it will beginning paying its own way so I can go to the cinema
@sophia finally, no more freeloading trees AND I can cancel moviepass
@BestGirlGrace one coin is worth 10 sheets of linen, but 20 sheets of linen are worth 1 coin
@sophia somebody somewhere: "this could work"
@sophia "every ECO coin in circulation is backed by a tree"
sparkle sparkle, bitches