Bitcoin can be use by future Mars Inhabitants? - page 3.

freedomno1

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Quote from: DDuckworth on August 13, 2014, 04:21:55 PM

At 22 light minutes, would the slowing of confirmation times cause an issue in the blockchain?

Good question, it would likely relay through the mars network first then the nodes would communicate with the ones on earth in theory
Not sure though two separate clients would probably be needed one for mars and one for earth.
Or block generation changed to once every 30 minutes and a small fork for mars and earth luminal communications.

Still pretty fast for the distance from earth to mars lol.

DDuckworth

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Quote from: commandrix on August 13, 2014, 10:15:16 AM

Quote from: bitsmichel on August 13, 2014, 07:34:06 AM

Quote from: Watoshi-Dimobuto on August 04, 2014, 11:38:38 PM

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

Earth-Mars transactions would currently not be so fast. The distance to mars is about 1.5 lightyears, If I am not mistaken. Faster than light is necessary for crypto to work on such an enormous scale - nobody wants to wait about 2 years for a transaction.

On Mars itself - of course. But to mix the economies into a space economy, faster than light is necessary. For now, moon-earth crypto is about the largest we can do.

I suggest you take a class on astronomy. Mars is not 1.5 lightyears from Earth. At its farthest from Earth, it's something like 22 light minutes.

At 22 light minutes, would the slowing of confirmation times cause an issue in the blockchain?

commandrix

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Quote from: bitsmichel on August 13, 2014, 07:34:06 AM

Quote from: Watoshi-Dimobuto on August 04, 2014, 11:38:38 PM

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

Earth-Mars transactions would currently not be so fast. The distance to mars is about 1.5 lightyears, If I am not mistaken. Faster than light is necessary for crypto to work on such an enormous scale - nobody wants to wait about 2 years for a transaction.

On Mars itself - of course. But to mix the economies into a space economy, faster than light is necessary. For now, moon-earth crypto is about the largest we can do.

I suggest you take a class on astronomy. Mars is not 1.5 lightyears from Earth. At its farthest from Earth, it's something like 22 light minutes.

bitsmichel

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Quote from: Watoshi-Dimobuto on August 04, 2014, 11:38:38 PM

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

Earth-Mars transactions would currently not be so fast. The distance to mars is about 1.5 lightyears, If I am not mistaken. Faster than light is necessary for crypto to work on such an enormous scale - nobody wants to wait about 2 years for a transaction.

On Mars itself - of course. But to mix the economies into a space economy, faster than light is necessary. For now, moon-earth crypto is about the largest we can do.

Hiraga

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funny dreams here

will_see

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https://bountyminer.io

To my mind, first 10-50 years they will make all transactions with food, stuff etc.

Kprawn

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There are already a project targeted at putting the blockchain in space.

Would they need to have a currency, when they first colonize Mars. {Not in my opinion} The first people would be properly funded, by their governments as a experimental project.

When infrastructure is built and more people go there, they will barter with goods and as it grows, a digital currency would be prefered, because recources to create fiat money, would not be available.

freedomno1

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Quote from: Watoshi-Dimobuto on August 04, 2014, 11:38:38 PM

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

Perhaps it requires an internet connection but it might be possible to send transactions from Mars across space to Earth and is more efficient than wasting mars resources on printing paper money and currencies, which can then be used for other purposes.
As a settlement currency it doesn't seem like a bad idea.

DDuckworth

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Quote from: Watoshi-Dimobuto on August 04, 2014, 11:38:38 PM

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

I think they would start out using some different colored coins - so that connecting with earth's markets weren't a problem. They would probably have an inTRAnet on mars that was just for them. Then there would just be a BTC exchange rate for the mars colored coins vs. the earth coins.

Mobius

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Quote from: commandrix on August 12, 2014, 08:13:13 PM

Quote from: Mobius on August 12, 2014, 06:09:58 PM

Quote from: commandrix on August 12, 2014, 10:32:08 AM

Quote from: dKingston on August 11, 2014, 10:14:32 PM

Quote from: commandrix on August 11, 2014, 04:56:29 PM

Quote from: Watoshi-Dimobuto on August 04, 2014, 11:38:38 PM

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.

commandrix

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Quote from: Mobius on August 12, 2014, 06:09:58 PM

Quote from: commandrix on August 12, 2014, 10:32:08 AM

Quote from: dKingston on August 11, 2014, 10:14:32 PM

Quote from: commandrix on August 11, 2014, 04:56:29 PM

Quote from: Watoshi-Dimobuto on August 04, 2014, 11:38:38 PM

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

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Quote from: commandrix on August 12, 2014, 10:32:08 AM

Quote from: dKingston on August 11, 2014, 10:14:32 PM

Quote from: commandrix on August 11, 2014, 04:56:29 PM

Quote from: Watoshi-Dimobuto on August 04, 2014, 11:38:38 PM

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.

Ron~Popeil

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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.

whysosweet

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

iluvpie60

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Quote from: Watoshi-Dimobuto on August 04, 2014, 11:38:38 PM

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.

blatchcorn

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Quote from: commandrix on August 11, 2014, 04:56:29 PM

Quote from: Watoshi-Dimobuto on August 04, 2014, 11:38:38 PM

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

commandrix

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Quote from: dKingston on August 11, 2014, 10:14:32 PM

Quote from: commandrix on August 11, 2014, 04:56:29 PM

Quote from: Watoshi-Dimobuto on August 04, 2014, 11:38:38 PM

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.

heybigboy1

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

Mobius

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Quote from: dKingston on August 11, 2014, 10:14:32 PM

Quote from: commandrix on August 11, 2014, 04:56:29 PM

Quote from: Watoshi-Dimobuto on August 04, 2014, 11:38:38 PM

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.

dKingston

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LAUNDER BITCOIN: https://BitLaunder.com

Quote from: commandrix on August 11, 2014, 04:56:29 PM

Quote from: Watoshi-Dimobuto on August 04, 2014, 11:38:38 PM

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.

Topic: Bitcoin can be use by future Mars Inhabitants? - page 3. (Read 5180 times)