I can't stop reading the www.ecocoin.com white paper. Honestly how are we supposed to satirize corporate tech bros when they roast themselves so comprehensively with their own ideas like this

If this weren't real it would truly be the Mona Lisa of tech satire

This is a real thing made by one of the guys behind uber. I could not make this up if you gave me a fucking lifetime to work on it

Wait hold up I own two trees but if every tree is an ECO doesn't that mean they own all trees ever

Am I bringing up other people's currency
Fuckin gall of capitalist tech bro wankers

@sophia This definitely seems like it was birthed at a "jam pad"

@sophia the Uber stuff is so stupid. And no one sees the wide open bullseye.

Until Uber can offer a bond of assurance to every passenger, they will fall to class-action liability.

@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 I’m just now catching up on the responses besides yours to mine and vice versa. Lol. It it weren’t so damn dumb at the current time, I could almost see something like this maybe helping.

@sophia If you don't stop with this nonsense I'm going to blockchain myself to a tree

@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

@tcql @sophia if a tree falls down in the forest and nobody's there to hear, do ECO coins lose value

@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?

@tcql @sophia I would assume that tying the value to the number of trees on the planet just means that chopping down trees devalues them

@tcql @sophia so basically as soon as the currency launches it'll rapidly and persistently depreciate until we fix capitalism

@theoutrider
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.

@tcql @sophia

@theoutrider @tcql @sophia
A far better metric to have used is the (weighted?) average age of all the trees known world-wide. This should have the effect of at least slowing deforestation. Although, it still doesn't motivate reforestation.

@vertigo @tcql @sophia their value isn't actually tied to the number of trees though, just their total quantity?

the prices they list in the white paper make it obvious the value is basically just roughly equivalent to 1USD (12.50E for a cinema ticket etc)

@vertigo @tcql @sophia I mean this is all academic anyway because the entire thing is just complete fuckin nonsense

@vertigo @tcql @sophia also the fact that you'll be able to buy funbucks for actual money on launch (because where else would the scam be) decouples their value from any theoretical commodity backing anyway

@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.

@theoutrider
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.
@tcql @sophia

@tcql @sophia or maybe anyone who destroys a tree will have an ECO coin withdrawn from their account

@sophia this is the third currency named "eco", that i heard of, next to en.m.wikipedia.org/wiki/Eco_(c and eco.com/ ¯\_(ツ)_/¯

@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

@anna @sophia wait, on the left side, it says you get one coin for every ten trees, but on the right, it says every coin is backed by a tree

which is it? what happens when a tree gets cut down? can I claim someone else's tree?

@BestGirlGrace one coin is worth 10 sheets of linen, but 20 sheets of linen are worth 1 coin

@BestGirlGrace @sophia glad to know my kids can inherit our trees and continue my arboreal empire building by exploiting the non tree owning proletariat

@BestGirlGrace @sophia right? I have a few acres I live on. A gift from my late grandfather. Am I wealthy for the hundreds of trees I “own”?.

@sophia "every ECO coin in circulation is backed by a tree"

???????

@theoutrider @sophia through a tree-centric crowd funding cloud. You should look at the impressive list of trees who pledged. We will ship ECO coins to tree starting in November

@sophia which 50% of a roadster do I get? And of course their goto car is a tesla 😂

@spacekookie @sophia Haha I didn't catch that they offered that on the Roadster model, not on a slightly less exuberant daily driver.

Hey kids, wanna be green? Would you like to buy 50% off a racetrack-ready luxury roadster?

@sophia pouring my gas into round containers so it's more circular and thus better for the eco-economy

@sophia that must be the least fun secret bar and club

@sophia "entrance to a secret bar"

what world do these people live in where that's a relatable benchmark for ppl to measure value by

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glitterkitten

No nazis, no swerfs, no terfs, no nazis.