Offset Bitcoin is an open, collaborative project with a single mission:
to neutralize and reverse the negative environmental impact of the Bitcoin network.Initially, this is to be accomplished by offsetting (i.e. counteracting) the network's annual carbon (CO₂) emissions through donations to the world's most effective organization(s) working on climate change mitigation.
Ultimately, the goal is to lock in a far greater amount of CO₂ than the amount released by the Bitcoin network, so that its overall impact shifts from negative to
positive. It is our hope that Bitcoin will one day become a sustainable and climate-saving network.
The Bitcoin network currently has an
estimated annual carbon footprint of approximately 27,000 kt (kilotons of CO₂). The most cost-effective climate change charity can protect one acre (0.004 km²) of rainforest for approximately $85, which locks in 270 tons of CO₂. Therefore, offsetting the network's annual output of 27,000,000 tons would require 27,000,000 / 270 = 100,000 acres (405 km²) of protected rainforest. This would cost 100,000 * $85 =
$8.5 millionHere are a few statistics* that demonstrate why this goal is absolutely attainable:
*Please note that the numbers provided above are estimates and subject to change based on market fluctuations and further research.
Step 1: Offset the Bitcoin network through donations to the world's most effective organization(s) working on climate change mitigation.To ensure that the
Offset Bitcoin project has the greatest possible impact, it is important that all donations go directly to the most effective climate change organization(s). Thanks to
Effective Altruism, a research field that uses high-quality evidence and careful reasoning to determine the most effective ways to do good, the most effective climate change organization has already been identified. That organization is
Cool Earth.
CoolEarth is a non-profit that works alongside rainforest communities to combat deforestation and climate change, protect ecosystems, and provide employment for local people.
"We considered more than one hundred organizations that claim to reduce greenhouse gas emissions with donations and tried to figure out which ones most cost-effectively prevent the release of one metric ton of carbon dioxide equivalent. The charity we ultimately decided was best is called Cool Earth."
— William MacAskill
"Helping Cool Earth to halt tropical deforestation makes a real difference. Perhaps the biggest difference we will make in our whole lives."
— Sir David Attenborough
Broadcaster, Writer, and Naturalist known for his innovative educational television programs such as the BBC's Planet Earth and Life series
At this time,
Cool Earth does
not accept cryptocurrency donations. We are currently in the process of scheduling a meeting with
Cool Earth, so that we can convince them to start doing so. We expect this initial meeting to take place within the next two weeks.
Step 2: Devise, propose and foster other initiatives that help turn Bitcoin into a sustainable and climate-saving network.This step represents a long-term, multifaceted process that will require a lot of community input and collaboration, as well as input from experts in various disciplines. We will particularly require insights into the areas of climate change mitigation, energy production and consumption, decentralized network infrastructures, and decentralized application development. Eventually, we hope to be able to put together a global think tank that can establish a clear path as we move forward in our endeavor. If you believe you know someone who could help make
Offset Bitcoin a success, please do share this project with them.
1. Express your support by copying and posting the following message in this thread:I want to make a cryptocurrency donation to Cool Earth.
What does this do? By demonstrating that you are willing to make a cryptocurrency donation to Cool Earth, you strengthen our argument when we speak to Cool Earth about the benefits of accepting cryptocurrencies. With each individual supporter, we increase our chance of success.=== UPDATE ===
We are very excited to announce that the initial meeting with
Cool Earth was a huge success!
Cool Earth has decided to start accepting Bitcoin and other cryptocurrency donations, making it the first major climate change charity to do so and, importantly, the most effective one. Furthermore, the organization's director and fundraising officer have shown strong interest in the
Offset Bitcoin project.
Now that
Cool Earth has decided to accept crypto donations, it's time to start promoting
Offset Bitcoin on a much larger scale. We will soon find out whether
Cool Earth will be directly involved with the project and will start promoting it within its existing network. Either way, we will need all the help we can get to promote the project throughout the crypto space. Please have a look at the various ways in which you can help:
2. Share your thoughts, skills, resources, contacts or anything that you think may be beneficial to this project. Here are several things that you can do:
- Share your ideas/insights and your opinions/criticisms of this project (in a constructive manner, please)
- Tell other people about Offset Bitcoin and follow the project on social media (links will be added soon)
- Wear the Offset Bitcoin forum avatar and/or signature (see below)
- Translate this thread into your language and post it in your local Bitcointalk section
- Write about Offset Bitcoin on your blog or on other websites/platforms
- Design materials for the project's website and its other outreach channels
Offset Bitcoin avatar (v. 1):
3. Donate in FIAT currencyDespite the fact that
Cool Earth does not yet accept crypto donations, they do accept credit card donations. Yes, we understand that you don't like banks or credit cards and neither do we, but a credit card donation is of course better than no donation at all, it still supports the cause.
To make your donation, please use the Offset Bitcoin fundraising page on coolearth.org:
We would like to preemptively extend our sincere gratitude to everyone's insights, donations, and other contributions. We believe that Bitcoin was created for the betterment of humanity and, by extension, the protection of our natural habitat and resources. With this incredible invention, we can finally take environmental protection back into our own hands. Let us act now, together.
Bitcoin network energy consumption:Bitcoin Energy Consumption Index by Digiconomist
Global Cryptocurrency Benchmarking Study by the Cambridge Center for Alternative Finance
At this time, information on this is scarce and varies significantly between different sources. To improve our decision making, additional research will be required.
Cool Earth:Official websiteAnnual ReportOffset Bitcoin fundraising pageAs mentioned above, Cool Earth was identified as the most effective climate change charity through careful analysis conducted by experts in the field of philanthropy. Click
here to read the report published by the Effective Altruism organization
Giving What We Can.
Disclaimer:
We are not associated with Cool Earth or any other organizations that we may establish relationships with in the future. We are independently trying to raise funds for Cool Earth. As explained above, all of the funds we intend to raise will go directly to Cool Earth. Those contributing to the Offset Bitcoin project do so on a voluntary basis. None of the participants will receive any financial compensation for their efforts.
Thank you Jurgen for publishing this thread on our behalf.
