Cosmic Currency: PayPal and SETI Developing Space Cash System

[phlogistonq]

Perhaps something bitcoin is ideally suited for:

http://www.space.com/21739-paypal-galactic-seti-space-tourism-payment.html

I can imagine problems with blockchain forking though if the distance between the two locations is so great that signals will take 10+ minutes to travel and mining occurs at both locations.

[AMuppInTime]

Perhaps the thing that will dethrone Bitcoin too... Bitcoin 2.0?

[jamesc760]

Paypal must die. It's evil reincarnate.

[threeip]

"One thing is clear: We won't be using cash in space," Marcus said. "PayPal has already pushed payments into the Internet, onto phones and across terrestrial borders. We look forward to pushing payments from our world to the next, and beyond."

But it all comes back to the USD, doesn't it friend?
If someone has 'internet in space', why can't they just use Paypal Terrestrial? Or Bitcoin  ?

We need Paypal Galactic like we need Paypal Fatburger.

[AMuppInTime]

I think it mostly deals with peripheral networking issues:
assuming you have an established trading platform, how do you trade if being cutoff from the network?
I'm sure other issues are being looked at too - either way an interesting topic.

[onedeveloper]

I was about to open a new topic on the same subject, but I searched first and found this one ...

The interplanetary money netwotk won't be different from banking with the colonies during America's colonization efforts (or plundering). People traded here and there even though transacctions had to be verified via "ship-mail" ocnfirmations with a 6 months latency. And economy worked nonetheless... so what's 20 minutes round trip to mars? Nohting!

And for the problems with double mining and chain forx : the simple solution! Use TWO different coins: one for Mars and another for Earth.. Make them interchangeable, tough, and adjust difficuty each 20 minutes so they grow sinchronously. Any other problem?

 

[legitnick]

Perhaps something bitcoin is ideally suited for:

http://www.space.com/21739-paypal-galactic-seti-space-tourism-payment.html

I can imagine problems with blockchain forking though if the distance between the two locations is so great that signals will take 10+ minutes to travel and mining occurs at both locations.

Bitcoin is already the solution for this. Looks like paypal is trying to one up Bitcoin again.

lol, this idea is really out there and looking way into the future maybe 100-150 years down the road.

I dont see us having to worry about space currencys any time soon.

[TBonez777]

The interplanetary money netwotk won't be different from banking with the colonies during America's colonization efforts (or plundering). People traded here and there even though transacctions had to be verified via "ship-mail" ocnfirmations with a 6 months latency. And economy worked nonetheless... so what's 20 minutes round trip to mars? Nohting!

And for the problems with double mining and chain forx : the simple solution! Use TWO different coins: one for Mars and another for Earth.. Make them interchangeable, tough, and adjust difficuty each 20 minutes so they grow sinchronously. Any other problem?

 

Nice.

[razorfishsl]

Like an episode out of Star Trek, where the Federation of planets is located on Earth.......
About as ironic as locating the UN in a  Philippine village.....

[razorfishsl]

The interplanetary money netwotk won't be different from banking with the colonies during America's colonization efforts (or plundering). People traded here and there even though transacctions had to be verified via "ship-mail" ocnfirmations with a 6 months latency. And economy worked nonetheless... so what's 20 minutes round trip to mars? Nohting!

And for the problems with double mining and chain forx : the simple solution! Use TWO different coins: one for Mars and another for Earth.. Make them interchangeable, tough, and adjust difficuty each 20 minutes so they grow sinchronously. Any other problem?

 

Nice.

No it's a stupid Idea... the Universe is curved and space time is local to the observer....