Bitcoin can be use by future Mars Inhabitants?

[BitCoinDream]

Some day in the future we will have human settlements in Mars can they use bitcoin?

AFAIK Project Mars One accepted Bitcoin. But unless proper internet connectivity is provided, it is not possible to use Bitcoin on Mars.

[FUR11]

Some day in the future we will have human settlements in Mars can they use bitcoin?

Yeah the people mentioning the time it takes for the information to spread through the solar system (or just Earth-Mars) are right. We can't establish a single cryptocurrency when we have to deal with block times of 10 minutes. That's too short for such distances (also the orphan rate will suffer). Side chains? MarsCoin maybe?

[Omikifuse]

YES.

It is possible to stabilish a communication link to mars, since the curiosity is sending images to earth.

Just mining and blockchain core will not be suitable, I think. But multibit is ok.


Maybe some modifications to deal with the delay? Like send transactions from time to time by a central autority, so no double spending attempts?

Or addresses that can only be generated by martians?

[qiuxiang]

Bitcoin have the potential to be the universal payment system, if it keeps improving and keeps being accepted by most people.

[oceans]

I can not see why this would not be possible if they had access to the internet. More and more companies seems to be jumping on and accepting bitcoin and it can only get better. I am sure it would be a while though before any serious use of bitcoin could happen on Mars if it was to happen.

[BitcoinLlama]

Seems as though bitcoin might be necessary on mars...

[commandrix]

Some day in the future we will have human settlements in Mars can they use bitcoin?

The short answer would be, "Yes." The long answer is that there are already some cryptocurrency users who have thought of this, including the Marscoin Foundation. Interplanetary traders are probably going to insist on taking cryptocurrencies as payment for the sake of convenience and complete lack of patience with Earth-bound banks who want a slice of the pie that they haven't earned. It wouldn't be a long shot to say that those interplanetary traders could be backed by economic strategists who have gotten sick of Earth's insistence on using systems that were outdated before we ever had permanent settlements on Mars.

[MakeBelieve]

Contact mars one they are accepting bitcoin for donations I wonder if they would consider actually trading from mars with bitcoin.

[GoldSilverBitcoin]

I wrote an article on something similar awhile ago. Perhaps it is of interest.

https://www.goldsilverbitcoin.com/what-does-it-mean-for-bitcoin-to-be-one-million-years-old/

[dKingston]

Some day in the future we will have human settlements in Mars can they use bitcoin?

The short answer would be, "Yes." The long answer is that there are already some cryptocurrency users who have thought of this, including the Marscoin Foundation. Interplanetary traders are probably going to insist on taking cryptocurrencies as payment for the sake of convenience and complete lack of patience with Earth-bound banks who want a slice of the pie that they haven't earned. It wouldn't be a long shot to say that those interplanetary traders could be backed by economic strategists who have gotten sick of Earth's insistence on using systems that were outdated before we ever had permanent settlements on Mars.

I don't think this would actually work very well. It can take several minutes for radio waves to travel from earth to Mars and during this time it would be possible that coins could be double spent. If we were to ever colonize on another planet I don't think that interplant commerce would really be possible due to the costs associated with traveling between earth and any other planet. 

[Mobius]

Some day in the future we will have human settlements in Mars can they use bitcoin?

The short answer would be, "Yes." The long answer is that there are already some cryptocurrency users who have thought of this, including the Marscoin Foundation. Interplanetary traders are probably going to insist on taking cryptocurrencies as payment for the sake of convenience and complete lack of patience with Earth-bound banks who want a slice of the pie that they haven't earned. It wouldn't be a long shot to say that those interplanetary traders could be backed by economic strategists who have gotten sick of Earth's insistence on using systems that were outdated before we ever had permanent settlements on Mars.

I don't think this would actually work very well. It can take several minutes for radio waves to travel from earth to Mars and during this time it would be possible that coins could be double spent. If we were to ever colonize on another planet I don't think that interplant commerce would really be possible due to the costs associated with traveling between earth and any other planet. 

I agree. It would just not be technological feasible to transmit blocks and transactions from planet to planet without loosing the double spend protection that Bitcoin provides.   

[heybigboy1]

I'm sure they can, why wouldn't they. I'm sure that by then BTC will be even bigger and more stable.

[commandrix]

Some day in the future we will have human settlements in Mars can they use bitcoin?

The short answer would be, "Yes." The long answer is that there are already some cryptocurrency users who have thought of this, including the Marscoin Foundation. Interplanetary traders are probably going to insist on taking cryptocurrencies as payment for the sake of convenience and complete lack of patience with Earth-bound banks who want a slice of the pie that they haven't earned. It wouldn't be a long shot to say that those interplanetary traders could be backed by economic strategists who have gotten sick of Earth's insistence on using systems that were outdated before we ever had permanent settlements on Mars.

I don't think this would actually work very well. It can take several minutes for radio waves to travel from earth to Mars and during this time it would be possible that coins could be double spent. If we were to ever colonize on another planet I don't think that interplant commerce would really be possible due to the costs associated with traveling between earth and any other planet. 

If you're talking about the buying and selling low priced items on the level of my teapot, you'd probably be right. However, it's estimated that some medium-sized asteroids could be worth trillions of dollars in terms of the rare-Earth elements and platinum group metals that could be mined from them. It's estimated that the Philippines could make $30 billion a year from its deuterium deposits in this era in which nuclear power hasn't really caught on much (source: this article) Imagine how much Martians could make just by being the solar system's shipyard. We'll find a way to make interplanetary trade work.

[blatchcorn]

Some day in the future we will have human settlements in Mars can they use bitcoin?

The short answer would be, "Yes." The long answer is that there are already some cryptocurrency users who have thought of this, including the Marscoin Foundation. Interplanetary traders are probably going to insist on taking cryptocurrencies as payment for the sake of convenience and complete lack of patience with Earth-bound banks who want a slice of the pie that they haven't earned. It wouldn't be a long shot to say that those interplanetary traders could be backed by economic strategists who have gotten sick of Earth's insistence on using systems that were outdated before we ever had permanent settlements on Mars.

Talk about being proactive.  People must be running out of Altcoin ideas these days

[iluvpie60]

Some day in the future we will have human settlements in Mars can they use bitcoin?

Why would there be something that says they cannot? You realize it only takes 3 to 22 minutes for the Mars Rover to send/receive pictures/commands back and forth right? At the closet it is 3 minutes, when it is further away it is 22 minutes.

I see no reason why there couldn't be a node that could transmit it.

[whysosweet]

This is the most futuristic thread among the futuristic ones, btw I think that btc will be useful on Mars, why not?

[Ron~Popeil]

At the risk of revealing my inner nerd there is a possibility for instant communication between any two points in the universe through quantum physics. You can actually provide an interaction with a sub atomic particle that is in more than one location at the same time and get the exact response in both locations at precisely the same instant. It isn't much of a leap to actively send information this way.

[Mobius]

Some day in the future we will have human settlements in Mars can they use bitcoin?

The short answer would be, "Yes." The long answer is that there are already some cryptocurrency users who have thought of this, including the Marscoin Foundation. Interplanetary traders are probably going to insist on taking cryptocurrencies as payment for the sake of convenience and complete lack of patience with Earth-bound banks who want a slice of the pie that they haven't earned. It wouldn't be a long shot to say that those interplanetary traders could be backed by economic strategists who have gotten sick of Earth's insistence on using systems that were outdated before we ever had permanent settlements on Mars.

I don't think this would actually work very well. It can take several minutes for radio waves to travel from earth to Mars and during this time it would be possible that coins could be double spent. If we were to ever colonize on another planet I don't think that interplant commerce would really be possible due to the costs associated with traveling between earth and any other planet. 

If you're talking about the buying and selling low priced items on the level of my teapot, you'd probably be right. However, it's estimated that some medium-sized asteroids could be worth trillions of dollars in terms of the rare-Earth elements and platinum group metals that could be mined from them. It's estimated that the Philippines could make $30 billion a year from its deuterium deposits in this era in which nuclear power hasn't really caught on much (source: this article) Imagine how much Martians could make just by being the solar system's shipyard. We'll find a way to make interplanetary trade work.

The future prices of these elements would likely fall as large amounts of these elements are sold on the market, as any amount of minerals mined on an astroid would likely be significant.

[commandrix]

Some day in the future we will have human settlements in Mars can they use bitcoin?

The short answer would be, "Yes." The long answer is that there are already some cryptocurrency users who have thought of this, including the Marscoin Foundation. Interplanetary traders are probably going to insist on taking cryptocurrencies as payment for the sake of convenience and complete lack of patience with Earth-bound banks who want a slice of the pie that they haven't earned. It wouldn't be a long shot to say that those interplanetary traders could be backed by economic strategists who have gotten sick of Earth's insistence on using systems that were outdated before we ever had permanent settlements on Mars.

I don't think this would actually work very well. It can take several minutes for radio waves to travel from earth to Mars and during this time it would be possible that coins could be double spent. If we were to ever colonize on another planet I don't think that interplant commerce would really be possible due to the costs associated with traveling between earth and any other planet.  

If you're talking about the buying and selling low priced items on the level of my teapot, you'd probably be right. However, it's estimated that some medium-sized asteroids could be worth trillions of dollars in terms of the rare-Earth elements and platinum group metals that could be mined from them. It's estimated that the Philippines could make $30 billion a year from its deuterium deposits in this era in which nuclear power hasn't really caught on much (source: this article) Imagine how much Martians could make just by being the solar system's shipyard. We'll find a way to make interplanetary trade work.

The future prices of these elements would likely fall as large amounts of these elements are sold on the market, as any amount of minerals mined on an astroid would likely be significant.

Fair point, but I imagine that the human population will have doubled and tripled and doubled again by the time it even becomes a factor. And these are all people who will be wanting jewelery made of metals mined in the asteroid belt. And it's not like mining companies will be dumping it on the market all at once. It takes time to extract that much material and, in that time, many wedding rings can be lost in the ocean, necklaces get broken, some of it might become valuable heirlooms to be kept in boxes, stuff happens.

[Mobius]

Some day in the future we will have human settlements in Mars can they use bitcoin?

The short answer would be, "Yes." The long answer is that there are already some cryptocurrency users who have thought of this, including the Marscoin Foundation. Interplanetary traders are probably going to insist on taking cryptocurrencies as payment for the sake of convenience and complete lack of patience with Earth-bound banks who want a slice of the pie that they haven't earned. It wouldn't be a long shot to say that those interplanetary traders could be backed by economic strategists who have gotten sick of Earth's insistence on using systems that were outdated before we ever had permanent settlements on Mars.

I don't think this would actually work very well. It can take several minutes for radio waves to travel from earth to Mars and during this time it would be possible that coins could be double spent. If we were to ever colonize on another planet I don't think that interplant commerce would really be possible due to the costs associated with traveling between earth and any other planet. 

If you're talking about the buying and selling low priced items on the level of my teapot, you'd probably be right. However, it's estimated that some medium-sized asteroids could be worth trillions of dollars in terms of the rare-Earth elements and platinum group metals that could be mined from them. It's estimated that the Philippines could make $30 billion a year from its deuterium deposits in this era in which nuclear power hasn't really caught on much (source: this article) Imagine how much Martians could make just by being the solar system's shipyard. We'll find a way to make interplanetary trade work.

The future prices of these elements would likely fall as large amounts of these elements are sold on the market, as any amount of minerals mined on an astroid would likely be significant.

Fair point, but I imagine that the human population will have doubled and tripled and doubled again by the time it even becomes a factor. And these are all people who will be wanting jewelery made of metals mined in the asteroid belt. And it's not like mining companies will be dumping it on the market all at once. It takes time to extract that much material and, in that time, many wedding rings can be lost in the ocean, necklaces get broken, some of it might become valuable heirlooms to be kept in boxes, stuff happens.

It is true that it takes time for mining companies to mine these elements, however the cost of transporting them from the astroid back to earth would be large so they would want to make as few trips as possible, so they would likely send the mined elements back in large batches. Once the elements are back on earth they would have no reason not to attempt to sell all of what they have. You are right in that there is a chance that demand for these elements would increase but I would personally doubt they would increase by an equal amount that the supply would increase by.