Why not create a currency based on energy production?

Why not create a currency based on energy production?

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that's basically crypto

volatility
>but fiat is volatile
yeah, just saying it wouldn't correct this

>target acquired

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I mean countries making energy, not consuming it.

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You mean Bitcoin? That what proof of work is…

better yet why dont we use energy as currency

So what, an oil backed crypto? A securitized solar contract? These things exist in markets today, just not as crypto.

he said production of energy not consumption of energy

we could call it bitcoin

proof of work is an antisybil defense, that isn't what makes it valuable. you can't redeem bitcoin for the energy used to create it. it's a great way to make money FROM energy, sure. but it's not energy-money

This guy gets it.

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you can't really prove you've created energy without expending it, and then you'd have to worry about people expending electricity for no reason to generate money

and unless you want to carry around plutonium uranium and thorium coins, energy sources themselves aren't a very good medium of exchange

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How would you actually do it though?

I read about a proposal of making a currency that is tied to kWh rather than the US dollar. Dunno how that would work but would be cool

idk that's why I wanted to ask you guys.

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Because with a currency based on violence is easier to dominate the world, as long as your army is able to provide the most violence.

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Fuck, I'm coming up with Gerald Ford tier ideas?

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I don't think it's viable unless energy was somehow modularized in a highly compact tradeable form. with fusion coming this century I just don't see energy being a good monetary base. in general I think the concept of money will fade over this century as well. we're in for some wild times for the next decade at least though

Wait, wrong Ford.

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I think the issue is also that energy is non-fungible and can be expensive to transport.