What currency shall human use when colonizing Mars

[jinc]

The first black hole picture reminds me Elon Musk's quote

    Mars should really have great bars.

It made me wonder what currency shall we use in that bar on Mars. Will it be fiat or cryptocurrency? Will there be a heated fight whether the bar tender shall accept USD or RMB? Is there an ATM for converting AUD to BTC?

Full article is https://support.jinance.com.au/hc/en-us/articles/360000906595-What-currency-shall-human-use-when-colonizing-Mars

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[hugeblack]

Marscoin 
I'm not joking. There is already a currency with that name that was designed to be used in Mars.
Perhaps the use of paper money is difficult in space so it is more likely to be digital currencies. * not be cryptos because of centralization *

Several attempts are underway to establish the first human colony on Mars. While technologically not impossible, funding for such a monumental project (estimated at 10-30 billion USD) is a major obstacle. If you share our dream of making that first giant step for mankind a reality, then we invite you to join us.

I do not think Mars has become a distant dream, let’s think further.

[Beerwizzard]

It seems like at the first stages of mars colonization people wouldn't have any currency simply because different exchange operations doesn't have #1 priority when you have to build a place where you can survive. They suppose to have enough supplies for that period.
Afterwards everything depends on how it would go, they may establish a new fiat currency or use a currency of a country that colonized mars. Cryptocurrencies are not an option in all cases.

Marscoin 
I'm not joking. There is already a currency with that name that was designed to be used in Mars.
Perhaps the use of paper money is difficult in space so it is more likely to be digital currencies. * not be cryptos because of centralization *

Several attempts are underway to establish the first human colony on Mars. While technologically not impossible, funding for such a monumental project (estimated at 10-30 billion USD) is a major obstacle. If you share our dream of making that first giant step for mankind a reality, then we invite you to join us.

I do not think Mars has become a distant dream, let’s think further.

And this is a shitcoin.

[Haunebu]

Marscoin  
I'm not joking. There is already a currency with that name that was designed to be used in Mars.

Lol. Seriously? This is just a dream basically at present which is why thinking about the currency that they are planning on using is pointless. Even if they choose a currency, why in the world would they choose crypto which many governments don't support on Earth itself?

Forget Mars. We need to focus on making our planet a better place to live in by improving energy efficiency etc.

[Ranly123]

The first black hole picture reminds me Elon Musk's quote

    Mars should really have great bars.

It made me wonder what currency shall we use in that bar on Mars. Will it be fiat or cryptocurrency? Will there be a heated fight whether the bar tender shall accept USD or RMB? Is there an ATM for converting AUD to BTC?

Full article is https://support.jinance.com.au/hc/en-us/articles/360000906595-What-currency-shall-human-use-when-colonizing-Mars

This is a nonesense question after all. It would be too far to think ahead that human can colonize mars and live in there knowing that the air is not the same air we breathe on Earth. So I would say that it's imposible to have a good answer to your question.

[okala]

Since mars have not been occupied before by human, going to colonize mar will be pourly on the construction and developing mars and not trading yet where currency will be needed, and it all depends on the country who will be the first to take the step to colonize mars to determine the currency that will be used and established in mars future financial development. But I know before then digital currency will be the preferred choice.

[alisafidel58]

Marscoin 
I'm not joking. There is already a currency with that name that was designed to be used in Mars.
Perhaps the use of paper money is difficult in space so it is more likely to be digital currencies. * not be cryptos because of centralization *

Several attempts are underway to establish the first human colony on Mars. While technologically not impossible, funding for such a monumental project (estimated at 10-30 billion USD) is a major obstacle. If you share our dream of making that first giant step for mankind a reality, then we invite you to join us.

I do not think Mars has become a distant dream, let’s think further.

I think this post said it all OP. We already have a currency that is being processed and we are just waiting for people to actually land and have a community there.

[jseverson]

No nation can really claim anything in space as their territory as stated in the Outer Space Treaty, but I imagine things will change once Mars actually becomes inhabitable. Interestingly though, it doesn't seem to say anything about private individuals.

I'm not going to rule crypto out because aforementioned private individuals like, say, Elon Musk probably has the capability to build a community there, claim it, and for some reason decide to use crypto as an official currency. I think it's far more likely for the treaty to be amended once sustaining life there becomes a possibility though, in which case a global superpower or a collection of them could control/claim it. Fiat would almost certainly used in that case.

One thing to consider though, is that crypto used on Mars would have to be based on Mars internet, as the Earth's would likely be impractical due to the distance lol.

[alyssa85]

Marscoin 
I'm not joking. There is already a currency with that name that was designed to be used in Mars.
Perhaps the use of paper money is difficult in space so it is more likely to be digital currencies. * not be cryptos because of centralization *

Several attempts are underway to establish the first human colony on Mars. While technologically not impossible, funding for such a monumental project (estimated at 10-30 billion USD) is a major obstacle. If you share our dream of making that first giant step for mankind a reality, then we invite you to join us.

I do not think Mars has become a distant dream, let’s think further.

It will be real hard to use digital currencies in space - you'd need a method of generating electricity.

If we ever get to Mars, the currency will be bits of some rare Martian rock.

[dothebeats]

I guess this is a hard debate: perhaps the first nation who would send a successful manned mission to the red planet would have the full rights to establish a colony there and use their own national currency for trades should Mars colonization be ever a thing. I for one think that China and the US would be battling it out on who sends the first mission in there, though with Trump still the POTUS with no plans in making scientific advancements, I guess China will have the edge in here and CNY/RMB would possibly be the official Mars currency (hopefully not.)

[markstivn98]

The first black hole picture reminds me Elon Musk's quote

   Mars should really have great bars.

It made me wonder what currency shall we use in that bar on Mars. Will it be fiat or cryptocurrency? Will there be a heated fight whether the bar tender shall accept USD or RMB? Is there an ATM for converting AUD to BTC?

Full article is https://support.jinance.com.au/hc/en-us/articles/360000906595-What-currency-shall-human-use-when-colonizing-Mars

I think it is better to use encrypted currencies, because they are closer to the future, but how can this happen? We have to use encryption in our planet first and agree between countries to recognize and then export it to space. If that happens, what will we buy in Mars ,Will we buy oxygen?? New currency at that time

[Netnox]

If we colonize Mars, then for the first few years there may not be a stable internet connection. Setting up an internet link with earth (if it is possible) is going to take many years and even if everything goes according to the plan, there may be delays in getting the information across. So I would say that physical cash (most preferably the USD) will be the currency when we colonize Mars.

[Choyor]

As soon as we colonize Mars and succeed in forming a colony there, of course the internet network is not really stable, so the use of crypto technology cannot be maximized there. Therefore who and which country first set foot on Mars I think that country's currency is the first to be used.

[LeGaulois]

...

You could be surprised by what the organizations/nations are doing in R&D. In 10 years Humans will be there.

No nation can really claim anything in space as their territory as stated in the Outer Space Treaty, but I imagine things will change once Mars actually becomes inhabitable. Interestingly though, it doesn't seem to say anything about private individuals.

This.
And to add...
They are not interested in establishing populations there (except for a few fools who have the financial means to pay for completely crazy projects). Their sole purpose is to exploit the natural resources.

One of the questions that arise is: what individual freedom on Mars? who should decide? Since governments can't claim anything we are supposed to decide ourselves. Could be the anarchy too maybe?

[shield132]

The first black hole picture reminds me Elon Musk's quote

    Mars should really have great bars.

It made me wonder what currency shall we use in that bar on Mars. Will it be fiat or cryptocurrency? Will there be a heated fight whether the bar tender shall accept USD or RMB? Is there an ATM for converting AUD to BTC?

Full article is https://support.jinance.com.au/hc/en-us/articles/360000906595-What-currency-shall-human-use-when-colonizing-Mars

To be fair we are talking about a thing that still may take decides but there is no need for it to be cryptocurrency, it can easily be any plastic card, gadget or etc, any current digital alternative of cash. By the way, at first we had silver/gold, then paper money, then digital money, now - cryptocurrencies, what will be next? There will be something because human's creativity is unlimited and maybe this next thing will be used on Mars.

[Adriano2010]

Well i don't think will happen, i mean Mars colonization, and i also don't think they will need crypto there first time, maybe they will need a long time to set up internet on Mars and can use crypto.

[chenille]

Marscoin 
I'm not joking. There is already a currency with that name that was designed to be used in Mars.

Very wise move from them. If the coin survives until Mars is a habital planet, all bagholders of Marscoins can be rich. But I just had a look at coinmarketcap and it's a big inacive shitcoin. I'll go for Doge as cryptocurrency for Mars.

Well i don't think will happen, i mean Mars colonization, and i also don't think they will need crypto there first time, maybe they will need a long time to set up internet on Mars and can use crypto.

You don't know, technical things are developing fast and I can imagine that there will be a time when Mars colonization will be technical possible, it's another thing if it's necessary.

[goaldigger]

The first black hole picture reminds me Elon Musk's quote

    Mars should really have great bars.

It made me wonder what currency shall we use in that bar on Mars. Will it be fiat or cryptocurrency? Will there be a heated fight whether the bar tender shall accept USD or RMB? Is there an ATM for converting AUD to BTC?

Full article is https://support.jinance.com.au/hc/en-us/articles/360000906595-What-currency-shall-human-use-when-colonizing-Mars

When the time comes that we have already colonizes mars, im sure our technology that time would be a hundred times better than now. That means that all are we transacting for is more likely paperless including the monetary system. Fiat will no longer be used in mars.

[Kevin77]

I don't think that is a question for another 100 years unfortunately, the speed we build these rockets and how cheap they are getting I am sure people will go to mars in the next 10 years but even if we go to mars than the first people who are building a place there needs to just build stuff together which would require no currency at all. In order for a currency to be used we need to be there for a long time and actually build a civilization and that is really not that soon, we can't even send people to mars yet and to think going there and building a whole life that would eventually require currency must be really difficult and that is why I think it will take at least 100 years.

When it comes down to it I think a new currency for martian people should be built, of course with blockchain but a totally new one if you ask me, definitely purely digital with no cash involved as well.

[hatshepsut93]

If it will happen in the next 50-100 years, they will probably use the US dollar and/or currency of whatever country will be the most represented in the colony. Since there will be some slow interplanetary communication, people will probably also use Visa or whatever payment processor people will use in the future. Also, people will establish a separate internet network on mars, so it means local payment processors that might or might not be synced with Earth. And if Mars will have a sovereign country or countries, there will probably be some new fiat currencies.

But as for Bitcoin, it's so hard to make predictions, we still don't know if it ever will be mass adopted or will exist in 100 years, so it's impossible to say if it will be used on Mars or not.