Topic: BitCoin on Mars - How to manage signal time? (Read 539 times)
It will probably take anywhere from 15-20 Minutes to recieve the first confirmation from mars, keep in mind mars is VERY far away.
I hope there are less alt coins on Mars than on Earth.
I would just create a whole new blockchain, effectively an altcoin, local to Mars.
If you offered to buy and sell BitCoins into your system, it would initially stabilize at about the same value as BTC, and then afterward, it could do whatever you want. There could easily be exchanges that trade back and forth between the two local currencies.
If you offered to buy and sell BitCoins into your system, it would initially stabilize at about the same value as BTC, and then afterward, it could do whatever you want. There could easily be exchanges that trade back and forth between the two local currencies.
Quantum entanglement-based data teleportation already exists in labs, it's only a matter of time before it's miniaturized and used for spaceships. It's probably the best use case for that technology, in fact.
MarsCoin
Bitcoin is only for Earth.
(Do a search, this has been discussed like ten times.)
Bitcoin is only for Earth.
(Do a search, this has been discussed like ten times.)
Right up my alley. I've out lived the National Space Society life membership system. I have moon, Mars and asteroid base designs up my sleeve. I'm also a traveller fan they have week long waits in the traveller RPG and that's only the solar system next door. It gets to be 18 month in the Imperium centre to edge. 5 years spinward to coreward, ~3000 light years. 
First there would be very few time sensitive transactions. Who cares if the payroll to the NASA hard drive on Mars takes an hour. Payday will be the next morning anyway. Most transactions would be local.
Secondly just maintaining a buffer account on earth with a few BTC padding it out would work in most cases. Major Tom buys a gift for his wife. The transaction goes to earth but references the wallet on earth not mars. The transaction clears locally on earth. Tom wont know that for 20 minutes but it does not matter since he wont/ can't do a transaction to double spend. Very few opportunities will exist for Tom to get a BTC on mars or earth and spend it immediately. If that is likely then the buffer is spent instead and he's asked to refill a half a minute later.
The bitcoin mining protocols are time independent. They only know if something is newer than something else not what timezone either the transaction or the mining occured in. Mars base time will just be another time zone to those buts of software that check time. It has an extra hour in the day but that wont have much effect. When space colonisation gets going big time there will be a hundred new time zones and delays out to 8 hours, Saturns moons. But most thinks traded on the ships and stations will be purely local. If they were paid for, probably with big crowd funding appeals, then that would again be all local on earth or where- ever. All trade is limited by the speed of information. You can not trade, bargain, bid or promise, when you can't communicate. Not even information can be traded faster than light so the speed of bitcoin communication is not a problem.
First there would be very few time sensitive transactions. Who cares if the payroll to the NASA hard drive on Mars takes an hour. Payday will be the next morning anyway. Most transactions would be local.
Secondly just maintaining a buffer account on earth with a few BTC padding it out would work in most cases. Major Tom buys a gift for his wife. The transaction goes to earth but references the wallet on earth not mars. The transaction clears locally on earth. Tom wont know that for 20 minutes but it does not matter since he wont/ can't do a transaction to double spend. Very few opportunities will exist for Tom to get a BTC on mars or earth and spend it immediately. If that is likely then the buffer is spent instead and he's asked to refill a half a minute later.
The bitcoin mining protocols are time independent. They only know if something is newer than something else not what timezone either the transaction or the mining occured in. Mars base time will just be another time zone to those buts of software that check time. It has an extra hour in the day but that wont have much effect. When space colonisation gets going big time there will be a hundred new time zones and delays out to 8 hours, Saturns moons. But most thinks traded on the ships and stations will be purely local. If they were paid for, probably with big crowd funding appeals, then that would again be all local on earth or where- ever. All trade is limited by the speed of information. You can not trade, bargain, bid or promise, when you can't communicate. Not even information can be traded faster than light so the speed of bitcoin communication is not a problem.
As many of you might know the first one way trip to Mars will take place in within a few years, to start up a Martian base.
What problems do you spot if BTC were to be used between the base, and earth, considering that the signal time between
Mars and Earth varies between 5 and 20 minutes? And how is those problems solved?
The first problem I spot is the difficulty to mine blocks, as some data lags this time behind, but there must be other
complications as well!
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What problems do you spot if BTC were to be used between the base, and earth, considering that the signal time between
Mars and Earth varies between 5 and 20 minutes? And how is those problems solved?
The first problem I spot is the difficulty to mine blocks, as some data lags this time behind, but there must be other
complications as well!
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BTC: 1L3bWT3Yq495VZeYueTccnGmGXKJ8FVqrz LTC:LgwtCvsLLEKQqY4A1JLxm8v6Sy44zXv4UX
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mars would have it's own private network that just needs one bitcoin transaction as genesis
when they return they can net out all the transactions made
I certainly would not operate a bitcoin miner on Mars - there are more useful things you could do with the energy, and the communication delay will make virtually sure that you're always too late when you found a block...
But you can transmit the blockchain to Mars, generate and analyze transactions, keep a wallet there - all these activities are not significantly hampered by the delay.
Onkel Paul
But you can transmit the blockchain to Mars, generate and analyze transactions, keep a wallet there - all these activities are not significantly hampered by the delay.
Onkel Paul
As many of you might know the first one way trip to Mars will take place in within a few years, to start up a Martian base.
What problems do you spot if BTC were to be used between the base, and earth, considering that the signal time between
Mars and Earth varies between 5 and 20 minutes? And how is those problems solved?
The first problem I spot is the difficulty to mine blocks, as some data lags this time behind, but there must be other
complications as well!
----------------------------------------------------------------------------------------------------
Liked my thread? Please send a donation to:
BTC: 1L3bWT3Yq495VZeYueTccnGmGXKJ8FVqrz LTC:LgwtCvsLLEKQqY4A1JLxm8v6Sy44zXv4UX
NMC: NAqWuTsdHpTa5sp5zLWnPtGN3P9T5ounjX PPC: P9HfJcsJkA7XDJHB62wE4Yt24S46XFyU8u
What problems do you spot if BTC were to be used between the base, and earth, considering that the signal time between
Mars and Earth varies between 5 and 20 minutes? And how is those problems solved?
The first problem I spot is the difficulty to mine blocks, as some data lags this time behind, but there must be other
complications as well!
----------------------------------------------------------------------------------------------------
Liked my thread? Please send a donation to:
BTC: 1L3bWT3Yq495VZeYueTccnGmGXKJ8FVqrz LTC:LgwtCvsLLEKQqY4A1JLxm8v6Sy44zXv4UX
NMC: NAqWuTsdHpTa5sp5zLWnPtGN3P9T5ounjX PPC: P9HfJcsJkA7XDJHB62wE4Yt24S46XFyU8u
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