Do You Think They’ll Use the US Dollar on Mars?

[Hydrogen]

If I remember right, it takes light from the sun 8 minutes to reach earth and something like 12 minutes to reach mars.

This means it could take 4 minutes for radio waves and communications between earth and mars.

That long distance could mean supplies, equipment & parts shipped from earth to mars could take months or years to arrive.

There probably won't be a large selection of goods imported to mars from earth.

This could mean rather than a system of currency, mars would have some type of barter or trade system.

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[machinek20]

I think they should used the most traditional system, which is barter and after that create a new currency, using bitcoin is a great idea, but it takes time and I doubt the internet will have a good signal everytime and bringing dollar or other fiat is not effective because the amount maybe can be insufficient

[CODE200]

Precisely,because us dollar is an international currency that been used for such a long time im our world. That gives a reason that it will be you used also in planet mars because as we all know the united states of america is the first one whose eager to land in mars.

[thejaytiesto]

Bitcoin would be better. I believe in not only a global but a trans planetary currency where nodes are all over the galaxy. In the year 40,000 humans will be colonizing planets and connecting nodes across planets with some technology we can't fathom, that is, if we don't blow up earth before we reach that point.

[avikz]

If the mankind ever start settling in Mars, I think the most important and strong currency will be used in Mars. Also the nation who will be funding for the entire project, will want their own currency to be used in Mars as it will make their currency stronger than any other available currency. In that way, I see no reason why USD would not be used in Mars?

USD is indeed the strongest currency on earth and that should be used in Mars if NASA is funding the project.

[Kemarit]

If the mankind ever start settling in Mars, I think the most important and strong currency will be used in Mars. Also the nation who will be funding for the entire project, will want their own currency to be used in Mars as it will make their currency stronger than any other available currency. In that way, I see no reason why USD would not be used in Mars?

USD is indeed the strongest currency on earth and that should be used in Mars if NASA is funding the project.

The first country that can successfully put a human habitat in Mars should have the luxury to used their currency. USA has started it already so for sure dollar would be the main currency. And with the new NASA bill passed last month by the US Congress which will fund $20 billion allocated for space explorations, which bring more manned missions closer to reality. With that said, I think its possible that the US dollar will be used on Planet mars in the future.

[Harlot]

I don't think that any kind of currency both Bitcoin or Fiat will be of any used in outer space. Do you know why? This deep space explorations and space travels are well funded by either the government or a sponsor (corporation) which they take care of their clothes, food, toiletries and everything they need to live outside this earth making money with no value because every need to survive is provided by to them. Look at Space Travel movies there is no scene that they will have a problem regarding to spending money in space because they don't. Also the payments for their job or service are sent directly to their bank accounts or beneficiaries left in the Earth.

[Mia Wallace]

Why do you need a currency when you are not able to purchase anything from other planets and as long as there is no economics you really do not need any currency,using a currency outside earth is an ambitious thought process,let the corporate billionaires start a mega mall first then we can think about it.

[Ayers]

it depend what country there will be there, for now russia and USA have the strongest technology to travel, if both colonize mars they would use their respectively currency, and not only usa dollars, but this will be done with electronic payment only, i can't see them using cash on another planet, it's better to comunicate with something digital, and bitcoin i think would also be good here to use

[megynacuna]

I think they should used the most traditional system, which is barter and after that create a new currency, using bitcoin is a great idea, but it takes time and I doubt the internet will have a good signal everytime and bringing dollar or other fiat is not effective because the amount maybe can be insufficient

The communicate via Internet on the moon dude, the Internet can be easily broadcast with a satellite orbiting Mars so it's simple, with that said I think Bitcoin would be a choice for them to adopt on Mars but I hope they'd develop the satoshis to have value (say 1$=1satoshi).

[xypos]

I think that using nanosatelites on low Earth orbit is a great idea, especially if they will be a full nodes.
That may make blockchain faster, and surely easier to send transactions through.

I have to say that i am really amazed tha someone made up this idea, I would have never get to it!

How about implementimg a big amount of solar panels on these satelites, to collect as much energy as possible, to mine the bitcoins too?
I think that connection would not be the problem, and the investment would slowly refund itself.

[wuvdoll]

Bitcoin would be better. I believe in not only a global but a trans planetary currency where nodes are all over the galaxy. In the year 40,000 humans will be colonizing planets and connecting nodes across planets with some technology we can't fathom, that is, if we don't blow up earth before we reach that point.

Do you think so? I think that the currency used will be that of the country that establishes itself on Mars. Bitcoin is not viable in my opinion because it will take a very long time before any government ever is willing to completely use a crypto-currency as the sole means of transaction. There is just not enough security and assurance to make it viable. There are too many issues with transaction times, possible security breaches, etc that make it almost impossible.

[bohr]

If I remember right, it takes light from the sun 8 minutes to reach earth and something like 12 minutes to reach mars.

This means it could take 4 minutes for radio waves and communications between earth and mars.

That long distance could mean supplies, equipment & parts shipped from earth to mars could take months or years to arrive.

There probably won't be a large selection of goods imported to mars from earth.

This could mean rather than a system of currency, mars would have some type of barter or trade system.

A barter system will be too inefficient that is why we have currencies while it may sound ridiculous the inhabitants of mars will need to use mars dollars to settle their own bets and payments and we will have to figure out an exchange rate between their currency and ours.

[Sled]

I don't think they will use US Dollar on Mars in having different transaction because i think if the people are there in Mars they are completely evolved and they will use digital money and they will established internet on that planet and for sure they will use a digital money like bitcoin or their own version of digital money. Our world is keep on innovating so there is no doubt that this is possible.

[yellow1]

Maybe i think they might be bought a dollar on Mars because Us is assign to oversee and manage there, and the dollar is a one of famous and known currency, i think the dollar and bitcoin are maybe used in Mars. If they take an american citizen on mars maybe its possible to use a dollar, they bring it to the Mars and that will be their money to use. Dollar is easy to bring on mars.

[hartand]

Traveling to Mars may happen in next one or two years but I do not think bitcoin will reach main stream adoption within this quick time period. When bitcoin will hit main stream of adoption, I guess men may travel to new stars.

[ubitcoin]

Wondering where to spend the dollars in Mars bro? Will there be vendors there selling stuffs? Everything has to be relayed in goods from earth only. But if ever civilization flourishes in Mars, they will invent their own form of currency, why will be they dependent on earth or rather want to be dominated by us?

[Tyrantt]

Probably not. I see a good possibility of creation of a new cryptocurrency that will be implemented  on Mars in the future, since ironically we won't be having much space in space as we do here on Earth and to have a paper currency up there, you'd need a bank, a factory to produce that money, vaults,etc... basically a huge space taking and with CC most of those things wouldn't be needed and it  will save a huge portion of space.

[Bunsomjelican]

The space age is shifting into a higher gear with extraordinary momentum. The US Congress recently directed NASA to prepare a plan for deep space exploration, which should include sending humans to Mars. Concurrently, private companies continue to create and expand the commercial space market. 

In this regard, the fact that Bitcoin is borderless and possesses other relevant, unique features makes it essential for a space-based economy.
NASA to Send Humans to Mars


CubeSats
Space exploration is gaining renewed interest. The US Senate and the US House of Representatives passed Bill S.442, respectively, in February and March 2017. The bill authorizes NASA to spend $19.5 billion in the fiscal year 2017, to work towards accomplishing objectives to advance human deep space exploration, including a journey to Mars.
The bill also directs NASA to develop a strategic plan, focusing on information security and cybersecurity.

Bitcoin-Friendly Companies  Lead the Space Industry

Interplanetary Transport System – SpaceX

The space industry is growing exponentially, particularly, in those sectors related to space tourism, space habitat, space power, and space vehicles.

On February 27, SpaceX announced plans to send tourists around the Moon. This mission would be in the context of pursuing SpaceX’s ultimate goal of transporting people to Mars.

Elon Musk, CEO of SpaceX, wants to colonize Mars. He has shown his support for the cryptocurrency declaring, “Bitcoin is a good thing.”

Another bitcoin-friendly company focusing on space tourism is Virgin Galactic, which is expanding its operations. According to its website, “Effective today [March 2, 2017], our family of space companies numbers three. As with before, Virgin Galactic will be our commercial human spaceflight services provider, and The Spaceship Company will continue to offer design, manufacturing and testing services to build vehicles for Virgin Galactic. And our small satellite Launcherone team will become our newest company: Virgin Orbit.”

Sir Richard Branson, the founder of these companies, believes that “Bitcoin is working.” Branson has announced that space tourists will be able to pay for their tours in bitcoins.

In this regard, Sean Patterson, PR Manager of Worldcore, wrote, “Now, Bitcoin holders can get a chance to join the future passengers of SpaceShip II, and the price of a round trip is approximately 340 BTC.”

Bitcoin Shoots for the Stars and Beyond

Almost from Bitcoin’s inception, cryptocurrency enthusiasts and scientists have envisioned Bitcoin-based operations in space.

Do You Think They’ll Use the US Dollars on Mars?For instance, the idea of setting up satellite networks in space for Bitcoin operations has long been pursued. Indeed, early Bitcoin miner and developer Jeff Garzik was discussing and working on the idea of nanosatellites and Bitcoin in space as early as 2013.

Indeed, Jeff Garzik was planning “to launch a network of mini-satellites to beam the blockchain of Bitcoin down to every corner of the earth – circumventing any attempts at censorship,” according to a 2014 interview.

As a result, Bitsats, nanosatellites that operate in low Earth orbit, were designed for Bitcoin operations.

The Bitsat project envisions a network comprising 24 satellites orbiting the Earth. Each satellite in the network would function as a Bitcoin node.

A Bitcoin network operating from space could enhance Bitcoin’s freedom, writes Danny Bradbury. “Each of these satellites will save the entire Bitcoin blockchain, providing a backup for the earthbound Bitcoin network. They will receive updates with new blockchain data from selected ground stations, during 15-minute passes overhead. They will then independently verify that information to make sure that it is accurate.”

Bitpremier is offering Bitsats made by Dunvegan Space Systems for, as of this writing, about 835 BTC. This price includes the spacecraft, the launching, and operations.

Bitcoin’s Intergalactic Challenges

Granted, interplanetary distance and the speed of light will have to be factored in. Mars is very far away. Therefore, the communications time delay between Earth and Mars can vary between 3 and 22 minutes, depending on their relative positions.

So, the time delay would be greater than the blockchain’s average transaction delay, which is about ten minutes by design.

On Mars and other far away planets, perhaps a “Marscoin” could be used. Then, the “Marscoin” transaction could be settled with the Bitcoin’s blockchain. Thus, Bitcoin could act as a truly universal currency.

Earth-Moon transactions would not be an issue because the communications delay is only 1.3 seconds.

Bitcoin is here to stay. Eventually, humans will settle in space, and astropreneurship will become a mainstream activity.

Commerce in space will undoubtedly be cashless. Fiat currencies, already obsolete, will be of no use in a space-based economy. Therefore, let’s apply the amazing potential of Bitcoin and its blockchain technology to create innovative business solutions related to the emerging space economy.
What do you think about Bitcoin being the currency of the space economy?

What do you mean US will gonna use dollar in mars? you like on earth dollar was popular as world currency in all countries.
I that what they try to apply it in mars? I think that will be a hard thing to do if theY do that.

[syaripudin]

If indeed space exploration really happened. This is the idea of ​​developed countries, especially the United States. I think they will put the dollar as the currency on mars, bitcoin is unlikely to be directly in the mars, because bitcoin is a technology-based currency that uses the internet network. It is necessary to develop technological means to make bitcoin as a means of transaction. And I do not think it's easy. Need expert experts related in this regard. Also a long time, while the dollar is a fiat that can be directly used literally, so I think the dollar will first be introduced on mars.