RE: Why You Should Invest in SolarCoin
In order for SolarCoin to have a value that is determined by the renewable energy it represents, an economic model needs to be created that models the scarcity of solarenergy, to the supply and demand mechanics of solarcoin.
As an example, solar panels are connected to a device that tracks the power generated from said panels. This device is a smart device which serves two purposes.
- Functions as a Proof of Solar Energy device checking that energy generated really did come from the solar panels (more or this in a bit)
- Runs a node connected to the internet that effectively 'mines' solarcoin with the energy generated from Solar Energy.
Note, it's not doing anything computationally expensive as that would severely negate the purpose of using solar panels in the first place, only to waste it on creating and giving some coins some inherent baseline value.
Instead, it is merely there to act like a cryptographic verification of actual energy being produced from solar panels.
Now, back to point 1, we can't actually do anything right now that can prove the energy generated comes from solar panels because anybody with an electrical engineering degree can just take the device apart and plug in terrestrial electricity into the device and 'mine' a whole bunch of solar coins.
But, you get my drift.
Also, the market would have to largely all rely on solar power for this to really have any advantage over any other coin.
for what is worth the solarcoin team is talking with one of the world's largest tech firms....you may have used them for search recently, wont' say more. They have a solar project that can assess roofs for solar potential, it can also use satellites to monitor for panel presence and size thus imputing nameplate capacity....yes someone could paint panels on their roof but...
As far as I am concerned, any such rumours I will consider them as for the purpose of manipulation and ultimately greed.
All I have said, is that SolarCoin has barely any economic sustenance to actual Solar Energy. There is also no underlying tech that solves any underlying problems.
Effectively, SolarCoins are held centrally, and distributed to people who show they 'might' use solar panels to generate some electricity. That's it.
End of story.
I think there will always be those one or two people that try to game the system one way or another but they don't really have a lasting impact on the state of the system in the long run and definitely will not be the majority. I am a strong believer in karma, if they are trying to cheat the system one way or another it will catch back up to them haha.
~ Np
Yes -and there is also localized voting based on input irradiance datasets/microclimates to pre-predict output kWh Energy on the local scale, this will stop. It's something we've put 4000 engineering hours into so far. Once machine learning kicks in as planned these gamers are found out within about 1-3 minutes and they've just been flagged for the next 20-years of trying to claim their SolarCoin reward. Their loss, yes and @nphacker is correct, their SolarCoin Karma has gone. Another point, SolarCoin community is working on the hard problem of making the whole system decentralized over the medium term using the latest technologies.