Mining on another planet. Possible?

[Heutenamos]

I doubt there will ever be some big population on mars this century. Enought time to see if Bitcoin will be still alive

[1715111438]

1715111438

[wunkbone]

I doubt there will ever be some big population on mars this century. Enought time to see if Bitcoin will be still alive

Bitcoin will live forever..... Well just the mining stop but its still there...

[Moshi]

I doubt there will ever be some big population on mars this century. Enought time to see if Bitcoin will be still alive

Bitcoin will live forever..... Well just the mining stop but its still there...

Incidentally, if mining stops, Bitcoin dies, given it's the only method of propagating transactions. I still don't think it'll be around when Mars is colonized - only because of how long it will take.

[gollum]

Forget about Mars coin, there wont be humans on Mars for decades. But we can have bitcoin in space around the world to make the vision of a free and untouchable internet become reality.

My vision is that we build 1000s of tiny satellites with the following functionality:
-mesh networking
-communication with earth and neighbour satellites
-bitcoin mining hardware onboard
-hosting of websites

These devices can enable a free and uncensored internet in countries like China, it will be slow but it will be work and will be hard to stop unless they shoot down 100s of satellites over Asia.

[Corenin]

Cant even roi mining on earth, why ppl want to do it on mars instead :p

[blub]

Mars is freaking cold, so maybee heat production?

[thew3apon]

Mars is freaking cold, so maybee heat production?

Oxygen would be the main problem... until then, lets stop thinking of mining there .....

[snailbrain]

If you could use quantum entanglement for instantaneous communication,

then we could send our mining computer into a black hole or somewhere else with massive distorted space time...
 for the miner, time may pass at a different rate.. maybe much faster than on earth.. yet you are still getting instantaneous communication..
so.. on earth 10minutes have passed, but the miner has had 5 years to mine blocks in that short period...

WIN

[blub]

nope, in black holes time goes slower, so on earth 10min have passed, but your shiny asic din't finish the first hash.

There is no known place in the universe with significant faster time than on earth.
If you found a spot with negative mass density in the surounding, but it is generally believed that negative mass doesn't exist.

[snailbrain]

nope, in black holes time goes slower, so on earth 10min have passed, but your shiny asic din't finish the first hash.

There is no known place in the universe with significant faster time than on earth.
If you found a spot with negative mass density in the surounding, but it is generally believed that negative mass doesn't exist.

i forgot to write (it could be the other way around)

but.. in that case, we live in the blackhole and we mine on the outside

p.s. wasn't being too serious <3

[vastbitcoins]

I wonder what electricity cost on mars

[the_blazer52]

I wonder what electricity cost on mars

That's pretty much the problem with it. The electric generally comes from solar panels. There is hardly enough electric to keep all the life support going much less have a mining farm. Maybe if they had a nuclear reactor...

[rampalija]

stupid topic, it should be in off topic. Dont spam for no reason

[EccLipSe]

mars colony can use their local coin. But exchange could be possible always. Very easy to solve.

[Sword Smith]

quantum entanglement should allow for instantaneous communication over any distance.

It shouldn't and it doesn't.

Why shouldn't it? I guess you know everything their is to know about quantum mechanics,.... better let the rest of the world know so they can give up their research.

Foxpup is correct. I am a physicist.

[ekiro]

If we can get a fast enough connection between another planet and Earth, it could be possible.

Of course we can. Lasers!

That's funny though. Assuming BTC will be around when we colonize the cosmos.

[ralree]

Mining Bitcoin on Mars is totally infeasible, as almost all blocks mined on Mars will be orphaned by the time they reach Earth. I have talked about a solution before:

Each planet will have its own locally-mined cryptocurrency (Marscoin, etc), which each have a floating exchange rate to the original Earth-based Bitcoin. Marscoins and bitcoins can be directly traded for each other in order to settle interplanetary trade balances, the only issue is the speed-of-light delay for confirmations (which is unavoidable no matter what). Naturally Bitcoin can't be mined on Mars and Marscoin can't be mined on Earth, but that's not important.

An interplanetary coin with a block target of several Earth days (to allow interplanetary mining) is also a possibility for interplanetary trade or as a solar-system-wide reserve currency, but probably not necessary as long as the planetary coins can be freely traded, in which case it's likely that Bitcoin will become the solar-system-wide reserve currency (making all previous price predictions seem hopelessly pessimistic).

Yeah that's what I was thinking - thanks!

[ScryptAsic]

Possible but why would people wanna do that? Real mining on another planet would be a better deal cause their stone is so rare....

[gollum]

Why do it so complicated? People could use physical silvercoins on Mars if they ever move there.

[blub]

I think in the first few years energy on mars could be dirt cheap, in the time mars is collonised fusion energy will be available, and on mars there are no enviromental activists and the like, so produce energy, and dump the radioactive waste in the next hole. And deuterium looks like to be more common on mars.