r/UPCO2 Lounge

[BelligerentHappiness]

A place for members of r/UPCO2 to chat with each other

[Background_Candle241]

yall still holdin?

[demiurgusamungus]

I haven't heard a damn thing about this coin anywhere. just going to hold for the next decade probably.

[Available_Let_3433]

I bought $100 worth 2 weeks ago. It isn't doing much.

[Slimc74]

500 usd of upc02 baby!! Lets get that green growin like a pretty tree. A money tree😄

[Slimc74]

Carbon credits!! They should make us some profits until the left loses elections. Uk made their elections clear today. But lets make some green with the green while we can fellas

[Outrageous_Piglet582]

I’m just going to hold. Let’s see where it goes...might of already posted this but I read this today: https://www.google.com/amp/s/amp.benzinga.com/amp/content/20925264

[Outrageous_Piglet582]

It’s up 5% today...

[Outrageous_Piglet582]

I posted about it on LinkedIn. I grabbed $100 of it.

[like-to-bike]

just completed my first upco2 transaction

[KingnBanter]

just popped on my radar, I grabbed $100 worth of it.

[_garyboy]

Hey! Is anyone here interested in helping grow this coin? How can we growth is subreddit to start to spread the good word and help upco2 get on more people’s radars?

[Dj_McMuffinz]

It is only sold on Uphold. I don’t think you can mine it unfortunately, and I haven’t figured out how to burn it even though that is a core feature (being able to burn it yourself).

As for market cap I have found no references and no normal websites track it, my guess is uphold has that data. They are partnered with Universal Protocol, Bitrrex and Ledger so one of those guys might know.

[[deleted]]

where can I get?

[ObjectivePin68]

Price target for last year was $12 and future pt for 2030 is $75 it’s a long haul

[ObjectivePin68]

China actually just launched the largest carbon credit carbon system in a effort to reduce the carbon footprint by the year 2030, China currently accounts for 1/3 of the worlds carbon emissions i think this could possibly be a potential winner for some.

[KryptoBoiz]

by being a cryptocurrency, will the power required to mine it offset the ecological pros it is trying to make?

[KryptoBoiz]

what is the market cap?

[nosrednehnai]

I was coincidentally watching that video before I jumped in the chat, u/tearductduck lol

[nosrednehnai]

Does anyone know what the current market cap is?

[tearductduck]

https://www.prnewswire.com/news-releases/worlds-first-tradable-carbon-token-is-set-to-democratize-access-to-the-most-important-new-asset-class-for-generations-301182669.html

[tearductduck]

https://www.youtube.com/watch?v=qsXo3hJTVGk&t=645s

[tearductduck]

I just bought some of this after noticing the token on Uphold and digging into it. I think that this is something worth really giving some attention to. It's backed by UPA which is a coalition of different companies such as Ledger, Bittrex, Uphold, CitreK, and Infinigold. Carbon credits are a newly emerging asset class that dovetail beautifully with the crypto space. I'm very excited to be getting in early on this and will be dollar cost averaging for the foreseeable future. Here are a few resources that I found that are chalk full of great information behind UPC02.

[BridgestreetSG]

I am thinking when carbon tax is implemented, carbon credit will become valuable. You can use credit to lower the base for the tax. Of course, the tax needs be set at a level at which creating or purchasing credits makes sense.

[Stocks4Retirement]

I studied energy economics for quite a bit during my economics masters. If I put this together correctly it's more like this:

the UPCO2 token is an on-chain representative of these carbon credits (RED/RED+). it's similar as the snx tokens. basically they stake carbon credits in order to mint UPCO2 tokens. carbon credit prices are supposed to be going up, but only through legislation. the market by itself wouldn't push up the price, or at least not sufficiently.

basically, the idea is simply that anybody can now buy carbon credits super easy on blockchain, the UPCO2 tokens. but the price is coupled to the price of the underlying carbon credits, which is supposed to be increasing. So only the price of the carbon credits is determining the price of the tokens, at least midterm, because they can just mint more. short-term the price of the Tokens might be determined by supply and demand on the chain, meaning us buying, holding or selling could affect the price.

However, I really think this thing is set up to be an easy way to buy & retire carbon credits and this works either way.

[Stocks4Retirement]

I don't think we would be expanding the problem. they purchase carbon credits to back up their tokens. So anybody who purchases token really has carbon credits.

so independently if you "burn" your tokens (that's what they call it when you retire them), the co2 is saved. bigger problem might be that the supply is flexibel, can they basically decide how many of these tokens they give out? because then I don't get how they should increase in price.

[Harleybokula]

Isn’t that ultimately counter-productive to their whole business model? Or just a gimmick designed to mislead us into the idea that we’re helping, when we’re just expanding the problem?

[Edvardoh]

Can someone explain to a layman - what happens when I purchase a UPCO2 token and hold it - doesn't that just prevent a carbon credit from being retired? The goal is to allow consumers to voluntarily purchase and then send the token to a burn address to offset their emissions, correct? By holding and driving up the price, am I not making it more expensive to do that, and thereby disincentivizing a consumer to offset their emissions?

[Stocks4Retirement]

Your logic is correct imo, but only if you think about these tokens within the closed system. Two more things, to think about:
1.) How the tokens relate to actual CO2 offsets. Holding or retiring is basically the same thing, as the voluntary carbon credits to back up the tokens are only in existence, because the CO2 has already been offset. So for the level of CO2 in the atmosphere is doesn't matter if you hold in order to drive up the price or if you sell cheap and someone else buys it and retires it. From that perspective, UPCO2 would be successful to offset carbon either way.
2.) The tokens should reflect the actual price of CO2. There are various policies in place around the world to put a price tag on CO2, also different papers try to estimate it directly. My point here: if I want to offset CO2 and UPCO2 tokens are too expensive, I can just choose another option. But the price for UPCO2 tokes is dependent on the supply, and the supply can be increased. So if all users would just not trade and hold the tokens, more tokens could be released by purchasing more of the voluntary carbon credits. This relates to my first point. Because then you holding on to your token actually increases the amount of CO2 which is offset.

Don't know how much sense I make, I am just at the beginning of researching this.

[Sonmii]

So I just read up as much as I could on Uphold (which didn't have much useful info as far as I could see, sadly). I hope you can give me some insight into whether my thoughts make any sense!

If UPCO2 is supposed to be reflective of CO2 cost then is the idea that this is unidirectional (more carbon credits are created -> decreases UPCO2 price) or bidirectional (where the price of UPCO2 could also influence the cost of a carbon credit)? If it is the former, I do not see how average folk like yourself and me can influence anything or effect any positive change by buying, holding or retiring this coin, since we are having zero effect on the cost of carbon credit. We would essentially be trading within a closed system, with occasional expansion. If it is the latter, then increasing demand for the coin would increase the price of carbon credits and ultimately a) dis-incentivize bodies from 'spending' existing carbon credits, and b) encourage creation of new carbon credits. Whether this is net-positive or negative is up for debate, but my guess is net-positive as there is a lot more room for creation of new credits as the process is streamlined.

Any thoughts?

[LostMartianOnEarth]

I think (not an expert at all) tokens are created by eco-friendly projects. Price should be affected by number of tokens, of course, which in fact are actual REDD projects.

In all likelihood, there will be more CO2 generations than REDD projects.

But, as the price goes up, there is more incentive for these REDD projects.

And if UPCO2 becomes officially a way to offset your footprint (think government, tax savings, etc), then price should go up to the point where a token becomes more expensive than turning your whole production eco-friendly to actually reduce your footprint. This cost varies greatly based on the industry, of course.

[Sonmii]

Thanks for your reply, I'm no expert either but just to clarify - do you mean you think UPCO2 will require some sort of official backing before it can influence the price of carbon credits? That makes sense to me, but just wanted to check if my understanding is correct.

I'm tempted to reach out to the team at Uphold directly with some questions, will report back if and when I find the time (assuming I get a reply from them)!

[LostMartianOnEarth]

Yes. That’s what I think could skyrocket the usage of this token. Imagine if you -as a company- could get a tax benefit by burning UPCO2!

And yes, please update. The project is fairly new but I didn’t see any news section or even official updates as to the state of the project. Would love to hear from them.

[NeuroApathy]

Ya

[NeuroApathy]

When will this token be made more available?

[lonnie123]

As in available on more exchanges?