Bitcoin can be use by future Mars Inhabitants?

[commandrix]

Mining would be a waste of energy on mars.

Maybe the Mars population will have such powerful computers that mining will be pointless and won't exist anymore.

That's kinda what I'm hoping. Or at least we have a crypto that doesn't depend on mining very much. We can avoid the evil miners who invested in big powerful rigs and are using it to dominate the computing power behind any cryptocurrency we end up using on Mars. Though maybe it's just that I have enough of an evil genius in me to think of doing that. Bwahaha, right?

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[zimmah]

Pretty sure we will need to learn how to breathe there before we can be concerned about cryptos there...

word, we should nuke mars or something.. there's all that water under the surface, and that vapor can start terraforming mars. we'll all probably be dead by then there is a decent settlement on mars though.

right now, i rather we discover more about europa.. i really wanna see if live has developed on that moon.

it would need an atmosphere to keep the vapor around. I'm pretty sure mars doesn't have a stable magnetic field that prevents solar wind from blowing away their atmosphere.

It's easier to just create biodomes.

[zimmah]

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

No reason why not.  At the maximum distance between the two planets (378 million km) there would be a 21 minutes delay to get your transaction in a block (42 minutes minimum if your waiting for a confirmation).

I would not recommend mining though, the chances of your block being orphaned are quite high.

Neil

Implying Mars wouldn't have their own blockchain, ah egocentric humanoids. terrestrials

martians can be humanoid as well, and if they are colonists from earth they are still human.

but they won't be terran/terrestrial anymore

In theory yes but given the cost of interplanetary transmission and the long latency it is more likely that a separate MarsCoin would develop.  Most intra-planetary transactions would only use their respective currencies but I am sure some company would provide gateway and exchange services between the two networks.

marscoin may be separate, but still tradeable for bitcoin. Or maybe marscoin will just be a sidechain

[commandrix]

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

I think they will use MarsCoin. Lol

Probably. I think a member of the Marscoin Foundation mentioned that we could probably take the blockchain to Mars on a flash drive if we wanted to.

[zedicus]

Mining would be a waste of energy on mars.

Maybe the Mars population will have such powerful computers that mining will be pointless and won't exist anymore.

That's kinda what I'm hoping. Or at least we have a crypto that doesn't depend on mining very much. We can avoid the evil miners who invested in big powerful rigs and are using it to dominate the computing power behind any cryptocurrency we end up using on Mars. Though maybe it's just that I have enough of an evil genius in me to think of doing that. Bwahaha, right?

The miners are what secure the network. What really needs to happen is the TX volume gets to be high enough so that TX fees are high enough so that miners will need to spend enough on their miners so even a deep pocketed entity would not effectively be able to attack the network.

[minerpumpkin]

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

They could either operate their own Bitcoin network or we'd have to make see real adjustments to the protocol first. The round trip times from Earth to Mars and back again are just too high to effectively transact BTC or mine blocks that don't become orphaned. Just because both Bitcoin and Space exploration are futuristic and exciting don't mean they also mix especially well...

[Hiraga]

You guys forget that when Mars gets colonized Bitcoin and all it's technology is prehistoric.

[DDuckworth]

You guys forget that when Mars gets colonized Bitcoin and all it's technology is prehistoric.

I guess it's possible but really I think it's unlikely.

Consider that SpaceX was created for the sole purpose of reaching mars so that Elon Musk could be buried there. Reaching mars is the first step in colonizing it, and if any company would ever do something like that - it would certainly be SpaceX.  Along with that, it would be fairly quick since they are working at a rapid pace towards space domination.

However, even if it takes 200 years to reach space - we will just more likely be using Bitcoin as our main currency by that point.  USD has been used for close to 200 years now, as well as other world currencies, so I think it's still possible and even likely we would be using Bitcoin. 

It may even be a vastly improved version of bitcoin, but since Bitcoin is a software and not a physical item, it can become something entirely different but we can still call it Bitcoin, and it will still be Bitcoin.

#ToTheMars!

[bitsmichel]

You guys forget that when Mars gets colonized Bitcoin and all it's technology is prehistoric.

I guess it's possible but really I think it's unlikely.

Consider that SpaceX was created for the sole purpose of reaching mars so that Elon Musk could be buried there. Reaching mars is the first step in colonizing it, and if any company would ever do something like that - it would certainly be SpaceX.  Along with that, it would be fairly quick since they are working at a rapid pace towards space domination.

However, even if it takes 200 years to reach space - we will just more likely be using Bitcoin as our main currency by that point.  USD has been used for close to 200 years now, as well as other world currencies, so I think it's still possible and even likely we would be using Bitcoin.  

It may even be a vastly improved version of bitcoin, but since Bitcoin is a software and not a physical item, it can become something entirely different but we can still call it Bitcoin, and it will still be Bitcoin.

#ToTheMars!

There will be digital currency in an planetary financial system. Most of the goods, if not all, would be digital. But, given that we have 3d printers now they could easily be physical.  There is still the question as to the speed - for all currencies. Maybe 22 light minutes is not a big problem or by then there is a trick to speed it up.

[Daniel91]

You guys forget that when Mars gets colonized Bitcoin and all it's technology is prehistoric.

I guess it's possible but really I think it's unlikely.

Consider that SpaceX was created for the sole purpose of reaching mars so that Elon Musk could be buried there. Reaching mars is the first step in colonizing it, and if any company would ever do something like that - it would certainly be SpaceX.  Along with that, it would be fairly quick since they are working at a rapid pace towards space domination.

However, even if it takes 200 years to reach space - we will just more likely be using Bitcoin as our main currency by that point.  USD has been used for close to 200 years now, as well as other world currencies, so I think it's still possible and even likely we would be using Bitcoin. 

It may even be a vastly improved version of bitcoin, but since Bitcoin is a software and not a physical item, it can become something entirely different but we can still call it Bitcoin, and it will still be Bitcoin.

#ToTheMars!

Very good points.
World around us changing so quickly that it's also possible that in 100 years Bitcoin will be outdated, ancient history, replaced with something else, modern and newest technology.
We may even modify Internet and have something complete different in 100 years, who know?

[DDuckworth]

You guys forget that when Mars gets colonized Bitcoin and all it's technology is prehistoric.

I guess it's possible but really I think it's unlikely.

Consider that SpaceX was created for the sole purpose of reaching mars so that Elon Musk could be buried there. Reaching mars is the first step in colonizing it, and if any company would ever do something like that - it would certainly be SpaceX.  Along with that, it would be fairly quick since they are working at a rapid pace towards space domination.

However, even if it takes 200 years to reach space - we will just more likely be using Bitcoin as our main currency by that point.  USD has been used for close to 200 years now, as well as other world currencies, so I think it's still possible and even likely we would be using Bitcoin.  

It may even be a vastly improved version of bitcoin, but since Bitcoin is a software and not a physical item, it can become something entirely different but we can still call it Bitcoin, and it will still be Bitcoin.

#ToTheMars!

There will be digital currency in an planetary financial system. Most of the goods, if not all, would be digital. But, given that we have 3d printers now they could easily be physical.  There is still the question as to the speed - for all currencies. Maybe 22 light minutes is not a big problem or by then there is a trick to speed it up.

Easily doesn't translate to reasonable though, why would you spend the resources to print out a currency that is easier to use by leaving it in digital form? Maybe some backup hardware wallets could be printed or something like that - but I don't see why you would do something that takes such a large step backwards in progress.

[wordman267645]

Smelling some kind of adventure "Mars needs bitcoin" !!! Nothing is impossible !! it's only matter of how fast our communication system between earth and mars are developed..

[dompsairs]

I think they will not have time to worry about going shopping with BTC up in here.

[hamiltino]

By that time there won't be money, it would be a resource based economy.

[leanne]

Not suitable. Earth is too far away from Mars. Information would take too long to go from one place to the other.

[wasserman99]

You guys forget that when Mars gets colonized Bitcoin and all it's technology is prehistoric.

I guess it's possible but really I think it's unlikely.

Consider that SpaceX was created for the sole purpose of reaching mars so that Elon Musk could be buried there. Reaching mars is the first step in colonizing it, and if any company would ever do something like that - it would certainly be SpaceX.  Along with that, it would be fairly quick since they are working at a rapid pace towards space domination.

However, even if it takes 200 years to reach space - we will just more likely be using Bitcoin as our main currency by that point.  USD has been used for close to 200 years now, as well as other world currencies, so I think it's still possible and even likely we would be using Bitcoin.  

It may even be a vastly improved version of bitcoin, but since Bitcoin is a software and not a physical item, it can become something entirely different but we can still call it Bitcoin, and it will still be Bitcoin.

#ToTheMars!

There will be digital currency in an planetary financial system. Most of the goods, if not all, would be digital. But, given that we have 3d printers now they could easily be physical.  There is still the question as to the speed - for all currencies. Maybe 22 light minutes is not a big problem or by then there is a trick to speed it up.

Easily doesn't translate to reasonable though, why would you spend the resources to print out a currency that is easier to use by leaving it in digital form? Maybe some backup hardware wallets could be printed or something like that - but I don't see why you would do something that takes such a large step backwards in progress.

The vast majority of fiat financial transactions are done digitally as opposed to the actual movement of paper money. Even though there is paper money to back up financial transactions the paper money does not actually "move" but the "ownership" simply gets changed. A similar system would likely be in place for interplanetary financial transactions.

[Hiraga]

If there is life on another planet then perhaps they have a better financial system that wins it from Bitcoin. Our computers would be incompatible anyways.

[CreamyPie]

Aren't you taking it too far? Bitcoin will be history by the time we reach Mars

Some other currency might take over BTC

[Wealthy]

Mars? That's too much, we haven't even reached there. I think at mars 1 btc= 1 million dollars

Every person of this forum will be millionaire then..

[Fearless]

Mars will be more digitalized/machine based. So high chances crypto like btc will be used.