Economic Impact Of Commercial Space Exploration

[bitgolden]

Well, we are not really at the "exploration" part just yet. We literally just had our first private company carrying humans to outside of earth level, it is not even moon, it is not anywhere, it is ISS that is on the orbit of the earth. Is it a huge deal? Of course it is, this is unbelievably huge deal and I am super happy about it, but I am not expecting a mars colony next year, this is not something you go ahead full on without care.

We are going to take decades until we can go to another galaxy, we are going to be very careful about what we do next. Starting a space exploration should be done slowly and surely, we can't afford to just blow up some rocket with people in it because of simple mistakes. Hence the discussions should not be about what could be but should be about what is right now and how to improve that for the future.

[Lorence.xD]

How will the common man benefit from something like this? Asteriod mining? Seriously? For example, people usually purchase the Xbox or Playstation or Switch currently for gaming. A small percentile purchase VR headsets linked to these platforms.

That is what I have thought of too, I agree that this will generate jobs but I do not think that the profit for space is not yet that much albeit it is pivotal moment to space exploration, it is still not yet available to common people, with the price of each spacesuits, I do not think we are near to the Cowboy Bebop era where space travel is like riding an airplane. With the question above whether the common man will benefit from it, my answer is that they will benefit from it though most of it is indirectly being generating jobs the most obvious, in my opinion, many will benefit from this because there will new studies that will be tried by more people because they have access to space travel, tourism will be small because most people that could afford it will be few but each will have to pay hefty amounts of money and I am optimistic that that will be enough for them to get back what they invested.

[thesmallgod]

I have been reading for over a decade now on how they want to make space exploration a tourism in which people can travel into the space station through commercial transport system. If this is achieved, it will be a great thing to see people using bitcoin to buy space tickets just the way bitcoin can be used to purchase delta airplane ticket on bitpay. Commercial space exploration will also bring about some novel blockchain based project tailored toward this space exploration

[Upgrade00]

Commercial space exploration will also bring about some novel blockchain based project tailored toward this space exploration

I won't be surprised if this happens, many unpractical projects which had nothing to do with the block chain technology has been launched on it over the years. Space exploration would have little or no impact on the blockchain or cryptocurrencies, we're just beginning to explore this space and it will be a while before we fully harness the possibilities it brings.

What impacts do you predict this would have and should Bitcoin go to the moon, would you be boarding a rocket to space?

It's going to be an expensive trip so, I'll save myself for that and would be happy to see others getting there soon. Musk holds a small amount of bitcoin and who knows if a logo of bitcoin will be attached to one of his rockets.

I read somewhere that it is estimated to cost about $50 million when space tourism would become a possibility, it's a high fee, but there are a number of people who would be able to afford that.
The possibilities are only propositions now, we're yet to see how SpaceX and other private companies would push on. Due to the effort that goes into a launch, I guess it'll be another couple of years before we get a solid update as safety measure and trials takes time.

[sunsilk]

What impacts do you predict this would have and should Bitcoin go to the moon, would you be boarding a rocket to space?

It's going to be an expensive trip so, I'll save myself for that and would be happy to see others getting there soon. Musk holds a small amount of bitcoin and who knows if a logo of bitcoin will be attached to one of his rockets.

I read somewhere that it is estimated to cost about $50 million when space tourism would become a possibility, it's a high fee, but there are a number of people who would be able to afford that.
The possibilities are only propositions now, we're yet to see how SpaceX and other private companies would push on. Due to the effort that goes into a launch, I guess it'll be another couple of years before we get a solid update as safety measure and trials takes time.

Yes, that might be an expensive trip for everyone but people who are on and above the level of rich living and can consider this amount affordable, they would pay for that unforgettable experience. Those upcoming years will surely be a great contribution to the economy and like what we're seeing after the launch, this is just nothing compared to what's coming when it's already able to bring tourism in space.

It's going to be an expensive trip so, I'll save myself for that and would be happy to see others getting there soon. Musk holds a small amount of bitcoin and who knows if a logo of bitcoin will be attached to one of his rockets.

Musk's is a true definition of privacy, he is so clever that none of us know if he's saying is true or not. Just look at his twitter account. We don't even know how many bitcoins he got. 

He said that he owned 0.25BTC to JK Rowling but we can't be sure if he's just giving a small amount or that's the reality. As for me, I don't think a person like him owns that small quantity of bitcoin and knowing that he's into technology.

[Cnut237]

@Cnut237

In the same article you propose:

There are, however, potentially major challenges for anyone wanting to mine such an asteroid. How do you get it back to Earth through the atmosphere and land it without destroying the planet? Who do you sell it to in space if you can’t get it back to Earth?

Source: https://physicsworld.com/a/the-asteroid-trillionaires/

Going there and then mine all the metals is one issue, and then transport it to the earth is another issue. So much risk involved there hence I'm not sure if private companies can bear all those risks.

I've heard some compelling arguments about Columbus was funded by the government i.e., The Kingdom of Spain, therefore this kind of project might (only) be possible with the government's money.

Big risk, bigger reward.
Commercial space flights were said to not be viable, it would always need central funding - but that is no longer the case.
Commercial space exploitation is the logical next step. Yes, there will be huge logistical challenges, but when the rewards are this lucrative, there will be a lot of effort put into achieving the goal. I wouldn't bet against it.

[Kakmakr]

Will Bitcoin work in space..? that is the question that you should be answering. We have to remember that due to the distances, there might be some communication delays and these delays would cause synchronization issues with the Blockchain on earth.

" Mars is so far away in fact that it takes radio signals quite a long time to get from the spacecraft back to Earth. During Curiosity EDL, this delay will be 13 minutes, 48 seconds, about mid-way between the minimum delay of around 4 minutes and the maximum of around 24 minutes. " - Source : https://blogs.esa.int/mex/2012/08/05/time-delay-between-mars-and-earth/

So, you will have to implement a off-chain solution that will have to cache transactions between planets and only submit the transaction after it reached Earth.

[bits4books]

At the moment, the launch of Crew Dragon proved only one thing, namely, it proved that Elon is crazy (a bit) but not a fraud.
Then it all depends on the demand for launches. Yes, America will no longer need Baikonur or Vostochny for launches. If Musk manages to catch the right demand and this demand will pay for further development-we are waiting for what I think is really breakthrough things (after all, for many decades, space technologies after a full run-in pass into everyday life). If the demand ends without starting it is sad and Musk will remain an eccentric billionaire who has missiles.
If btc goes to the moon will I go to space? No, and few people can afford to do it in the next 10-20 years without spending entire budget (or if you are a very rich person). But I want to believe that now a new story of technical breakthrough begins and that soon we will see things that

[Sanugarid]

Will Bitcoin work in space..? that is the question that you should be answering. We have to remember that due to the distances, there might be some communication delays and these delays would cause synchronization issues with the Blockchain on earth.

Well the internet is the satellite, I think it is quickest when it is nearer at those satellites, the question "will bitcoin work in space?" of course it does. There will be just problems if it is a mile far from the internet atmosphere coz it has a limited cover.

So, you will have to implement a off-chain solution that will have to cache transactions between planets and only submit the transaction after it reached Earth.

The delay is not a problem for cryptocurrencies in space simply because you won't be needing it in space. What are you going to do with bitcoin in Mars? what would you buy? a spaceship? Testing planetary range transaction is pointless, you won't be getting any progress with that unless we start to inhabit in Mars, just like what Elon Musk is thinking.

[RealMalatesta]

I doubt there would be too much differences because we are talking about a period where we are so improved that we can send people to mars and actually will need to spend money, that is a looooong time from now. Plus if you could have satellites on earth that helps it out so much, you could have it on mars as well I am sure, I don't know how it all works but I am definitely sure it could happen.

So, when we are soooo further in civilization that we will need to spend crypto on mars, we are going to be improved on many other things as well which would help us use crypto there as well. However if we still haven't discovered it at all, we could simply just fork bitcoin to "bitcoin mars" or something that would only work on mars and nowhere else and they could use that if they want to.

[Upgrade00]

Update: Elon Musk, the founder of SpaceX reported few hours ago through his Twitter handle that they are currently building spaceports to facilitate interplanetary movements as well as launches within earth

SpaceX is building floating, superheavy-class spaceports for Mars, moon & hypersonic travel around Earth

In a later comment, he wrote that; the first Earth to earth test flight could happen in two or three years.
His tweet was a response to a report that they were hiring Offshore Operation Engineers in Brownsville

As I predicted in the OP, this project is already creating more jobs (although it's still within a very nice area) but with further growth it could widen
Hypersonic trips would cut down travel time greatly, if you're not in a particular hurry you'll likely be taking regular flights, buy how do you think this can affect transportation?

[coinfinger]

Space exploration is not something I have been interested in for a long time. But, ever since I started seeing SpaceX and the progress they have made in terms of space technology, I feel really impressed. Things are really going to change when it get perfects. I read some of my country's rich people have already booked land in moon and mars. So, space exploration got high impact on economy or our day to day life.

Although this doesn’t have anything to do with cryptocurrency directly as of now, it’s just another thing on its own and won’t have any impact here, but it’s still a major progress in humanity. As for all these Mars talk, lol that’s something that never really interests me. I just don’t know why lol. Maybe because I usually feel like it’s of no need, though I don’t really like talking about the reason I feel so lol. But, everything is good, and I hope to see more positive progress.