A reaction that can produce the simple diatomic species C2 under mild conditions would open up a new landscape for the synthesis of carbon-rich species, including C60 itself and generate potential access routes to species in which carbon sustains the hypothesized quadruple bonding pattern. Given the recent report of exactly such a reaction, it appeared desirable to apply quantitative computational techniques as a reality check, not only regarding the energetics of such a process but also to the mechanisms by which it may proceed. These computed mechanisms reveal that ambient temperature routes for reaction of the zwitterion 2 ("bound" C2) as the active species are lower in energy than those involving unbound or free C2. Compounds such as 2 serve as potentially useful and potentially selective precursors or synthons for C2, reacting readily with species such as galvinoxyl or 9,10-dihydroanthracene and less readily with solvents such as dichloromethane, whereas the very high energy free dicarbon species 3 is likely to be less selective.