What currency shall human use when colonizing Mars

[Spaffin]

The colonization of Mars should begin in 2025. This year, the necessary cargo will be sent to Mars, which will fly to Mars for about a year. As soon as the cargo is delivered, the first colonizers of Mars will fly out. They will fly at a speed of 7.9 kilometers per second for about a year. Take with them supplies for two years, until the next delivery of products. Water will be extracted on site. Colonization will take about 20 years. So everything is absolutely real.
At first there will be no money, everyone will work together for survival. In the future, everything will depend on the effectiveness of colonization. I think that first there will be barter, then there will most likely be your money. Cryptocurrencies there in the next few decades will not be accurate.

[munareal]

If the planet Mars is colonized the currency that will be used there will be the  cryptocurrency.  We are in the technology era with planet earth seeing the use of cryptocurrency though currently at the infancy stage . By the time Mars will be occupied cryptocurrencies will be in full utilization on earth and a continuation over there.

[Yakamoto]

The "currency" used by colonists on Mars will not manifest until long after the scientific segment of the colonization has ended. Initially, it will be more like how we currently view the ISS, with astronauts living on a space station and supplies provided by Earth-Station rockets. Once companies start to invest in the planet, or it somehow becomes self-sufficient, only then will there be a currency on the planet. Unfortunately, if companies are the big investor, then the primary currency will almost undoubtedly be company scrip, especially if the company has to ship goods to the planet on the regular in order to maintain the company. I'm trying to be realistic with that.

Assuming that the planet gets its own independent government, chances are it will have a currency that mimics the ones we currently have on Earth. Maybe we'll get lucky and there'll be a push for cryptos to be used, but it all depends on the attitudes and expertise of the colonists. A majority likely won't care, sadly.

[Hamphser]

There might be already some study on seeing mars is a potential vacate place for human kind but i dont believe that would happen to early.
Why would bother too much? I do even see that this wont happen on our lifetime. 

Answering the topic,everything would be cashless tx on future but we wont sure if we do still make use of e-fiat or crypto.No one knows.

[MakeMoneyBtc]

We are still waiting for Mars to be colonized so it's way to early to talk about what currency human should use there. Surely for a very long time Mars will be restricted only for a very few people and those are surely not going to need money since they don't even know how life is going to be there. And even if we are talking about people paying to visit Mars, the payment will be made on Earth and they will get everything they need on Mars but as I said we are thinking into the future now.

[imstillthebest]

If its true that mars can be a second home for humans and the transfer of habitat is succeful i think there will still be banks and other establlishments that will be built same as what we have on our earth  . fiats/local currency are still the one that people will prioritze to use but of course cryptos will still be available because internet will still be active .

[South Park]

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

It is an interesting question but humans have failed to colonize the moon which is a lot closer, so at best I see mars being colonized in a few centuries, and even at that point I do not see them using money since the first colonizers will have to support each other just to survive, but if I were to guess they will need to use some kind of digital currency and most likely they will need to use a currency native to mars and not one that exist already on earth.

[Artemis3]

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?

Logically its own planetary coin, hopefully inspired by Bitcoin. I don't know if they will be fool enough to make some fiat, but whatever they do, it probably has to be their own. Because its impractical to move coins between the planets. People here complain for 10mins transactions, but communications to Mars can nearly lag an hour, that is, 24 minutes one way, 24 minutes to receive the answer (ie. 48min ping).


Mars Rover Curiosity touchdown – and you think you’ve got latency issues!

Yes, 100 years into the future sounds reasonable, or by the time the last bitcoin gets minted.

The first humans on mars won't be "settlers", but more like temporary bases not unlike those in Antartica, completely depending from home. In fact i posted elsewhere that i think it makes more sense to build an orbital station, and move it to the Mars orbit first, to start the ground work remotely (but not all the way back to Earth) before the first humans can arrive on ground. Its still cheaper and easier to move to the Mars orbit than landing. This station should have its own artificial gravity, perhaps matching that of Mars (or something between mars and earth) to help acclimate humans while they work from there to control the probes on the ground and build the future habitats.

[NavI_027]

Crypto no doubt about that but I can feel that there are still chances that fiat will also be implemented, here's my perspective. Assuming that we now already started a colony in Mars, of course currency is not yet necessary because there's no need for using it since it will only circulate to a small unit of people (nonsense  right?) and besides humanity will surely focus first on establishing basic needs such as food, shelter, etc. But as the colony expands, there should be now a means of tarding then that's the time I think crypto will enter. Why crypto? It is because fiat is made of paper and paper is a very vital resources on that planet, of course they surely  don't want to waste it just for making fiat because there are so many things more important than that. However,if mankind able to make Mars like our own planet, with forests and bodies of water — lots of resources — then they will  now probably consider fiat as an option to avoid congestion in the blockchain which helps them to maintain the fast quality transaction.

Ps: this is only my own opinion.

[traderethereum]

Mars? It's still far away from now, and we don't know when we can live on Mars. I cannot imagine anything right now.
But I think we will have one currency to use for the transaction and I think that will be a new form and different than the other payment system that we know.
The OP has a big imagination, but that could be possible to happen in the future.

[Netnox]

The colonization of Mars should begin in 2025. This year, the necessary cargo will be sent to Mars, which will fly to Mars for about a year. As soon as the cargo is delivered, the first colonizers of Mars will fly out. They will fly at a speed of 7.9 kilometers per second for about a year. Take with them supplies for two years, until the next delivery of products. Water will be extracted on site. Colonization will take about 20 years. So everything is absolutely real.
At first there will be no money, everyone will work together for survival. In the future, everything will depend on the effectiveness of colonization. I think that first there will be barter, then there will most likely be your money. Cryptocurrencies there in the next few decades will not be accurate.

I agree with some of your points. During the initial stages, they might have to depend upon barter. Later on, once the infrastructure is established, they can create cryptos which will be used only in Mars. I don't think they can use the same cryptos which are in use here, since the data transmission issues will be present.

[CryptopreneurBrainboss]

Marscoin  

Lol, how about BitMars, sounds more attractive to me. No doubt if the human race ever colonized Mars the use of an electronic money should be the best option since we all know the world is going digital but I think just for the bragging purpose, the current fiat currency of the country that do succeed in starting the colonization will love their currency to be used.

[wuvdoll]

I can't really believe anyone would be talking about life on Mars, when you haven't made the Earth you're living in a better place. There are lots of things that has to be done and no one is talking about Mars right now, this one is just a fairy tale because it is not going to happen anytime soon.

Yes, there is every possibility that people will be visiting Mars, but not for them to live there. I just don't believe all those wack stories that people wants to go and live in Mars. No one has that time and money, except maybe rich men that would like to be visiting there by any cost and for them bitcoin or other cryptos will not be a big concern. If Mars will be raised by a government which believes into decentralization then we may expect bitcoin to be a currency there.

[Xising]

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.

I agree. I don't think that there is relevance with talking about currency in the colonizing Mars at its current stages since survival and a way of finding to thrive is the priority. Also, for all we know, the entity that would send the first humans to Mars are sponsored by one big company or many a join projects of several ones, if not, funded by one country in their belief that space race is the new ground that would prove their prowess in technology and overall wealth and economic strength to others. However, if there comes a time that Mars will have its own economy, I think they would first look on the more reliable and trusted options more than cryptocurrencies.

[nur rochid]

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.

I agree. I don't think that there is relevance with talking about currency in the colonizing Mars at its current stages since survival and a way of finding to thrive is the priority. Also, for all we know, the entity that would send the first humans to Mars are sponsored by one big company or many a join projects of several ones, if not, funded by one country in their belief that space race is the new ground that would prove their prowess in technology and overall wealth and economic strength to others. However, if there comes a time that Mars will have its own economy, I think they would first look on the more reliable and trusted options more than cryptocurrencies.

talking about currencies on Mars, of course there must be a colony first on that planet. now it may still be the research stage, and I think the development will be slower than crypto. therefore I agree, of course there will be more sophisticated currencies

[Crypdon]

I'm sure that the people living in mars will be homesick eventually and start to trade in memorabilia items. They might even use US dollars just to remind them of earth

[rizkyhiw]

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

For now this might be the first time going to Mars. I think tifak money will be useful there or cryptocurrency and if it has repaired and digitized Mars for future cryptocurrency changes, it will be very suitable for that, do not get too far in thinking LOL of the future after the earth cannot stem the chaos created by humans themselves.

[sana54210]

Before the colonization of Mars can become a reality, that is if it will see the light of the day, Bitcoin would have eaten deep into the soul of every human being like a cancer worm and the only digital payment that will be widely used then will be cryptocurrency.

So, absolutely it is going to be cryptocurrency idea that will be transferred by the people that desires to live in the Mars since they are tired of the earth, because I don’t see reason why the Mars should be colonized and I can see that you like listening to all these fantasies a lot. Kindly wake up from the dream, it will never happen.

[CoinEraser]

Before you need a currency on mars, many other problems have to be solved first. I think the first 50 or 100 years will not be necessary at all, because there will be hardly any raw materials and resources to buy or sell. Nevertheless, it would be good if there was only one currency on mars and all nations agreed on it. If it should be then sometime in distant future in such a way, I think however, it will be a cryptocurrency, since surely no one will begin to trade with old fiat money on the mars. 

[iv4n]

I'm afraid it's going to be USD again. The reason is the US is the country who invest the most in Mars's exploration and I gusee the US dollar is going to be the first currency used on Mars.
Meanwhile I do not except that in some time there will be made a deal in use of some special currency. Let's call it Mars coin. I believe it's going to be made on base of bitcoin and will have digital form.