Topic: Do You Think They’ll Use the US Dollar on Mars? (Read 3316 times)

Maybe yes or maybe no, first of all we have to first reach and colonize Mars and if we are successful then I think it will be the US dollar that we would have to use on Mars and nit Bitcoin. If it has to be Bitcoin than it is upto the government.

There would no money on Mars because many wars began because of money. The Earth is not a good place to live for centuries. People would live in Mars shouldn't use money. In additon they should interchanging if they want to live Mars in peace.

I think the US will use the US dollar, so the US dollar still running well, if the mars use other currencies then there is a high cost exchange.

I think that on Mars will create some other currency that will differ from those that exist on our planet. Electronic currencies there may not immediately appear, because it will be necessary to set up an uninterrupted Internet.

I do not think it will make more dollars on mars except on earth, because bitcoin on mars will use digital currency as a legitimate transaction.

As the innovation is growing bigger and bigger the next focus is towards the planets other than where we live at present. This will make people think about the further living possibilities in Mars. When world does not suit for living people starts migrating towards Mars. If that happens initially dollar will be one that gets used.

 you are all wrong , No BTC no US Dollar. They’ll use the Marscoin.

If indeed space exploration really happened. This is the idea of ​​developed countries, especially the United States. I think they will put the dollar as the currency on mars, bitcoin is unlikely to be directly in the mars, because bitcoin is a technology-based currency that uses the internet network. It is necessary to develop technological means to make bitcoin as a means of transaction. And I do not think it's easy. Need expert experts related in this regard. Also a long time, while the dollar is a fiat that can be directly used literally, so I think the dollar will first be introduced on mars.

What do you mean US will gonna use dollar in mars? you like on earth dollar was popular as world currency in all countries.
I that what they try to apply it in mars? I think that will be a hard thing to do if theY do that.

Probably not. I see a good possibility of creation of a new cryptocurrency that will be implemented  on Mars in the future, since ironically we won't be having much space in space as we do here on Earth and to have a paper currency up there, you'd need a bank, a factory to produce that money, vaults,etc... basically a huge space taking and with CC most of those things wouldn't be needed and it  will save a huge portion of space.

Wondering where to spend the dollars in Mars bro? Will there be vendors there selling stuffs? Everything has to be relayed in goods from earth only. But if ever civilization flourishes in Mars, they will invent their own form of currency, why will be they dependent on earth or rather want to be dominated by us?

Traveling to Mars may happen in next one or two years but I do not think bitcoin will reach main stream adoption within this quick time period. When bitcoin will hit main stream of adoption, I guess men may travel to new stars.

Maybe i think they might be bought a dollar on Mars because Us is assign to oversee and manage there, and the dollar is a one of famous and known currency, i think the dollar and bitcoin are maybe used in Mars. If they take an american citizen on mars maybe its possible to use a dollar, they bring it to the Mars and that will be their money to use. Dollar is easy to bring on mars.

I don't think they will use US Dollar on Mars in having different transaction because i think if the people are there in Mars they are completely evolved and they will use digital money and they will established internet on that planet and for sure they will use a digital money like bitcoin or their own version of digital money. Our world is keep on innovating so there is no doubt that this is possible.

A barter system will be too inefficient that is why we have currencies while it may sound ridiculous the inhabitants of mars will need to use mars dollars to settle their own bets and payments and we will have to figure out an exchange rate between their currency and ours.

Do you think so? I think that the currency used will be that of the country that establishes itself on Mars. Bitcoin is not viable in my opinion because it will take a very long time before any government ever is willing to completely use a crypto-currency as the sole means of transaction. There is just not enough security and assurance to make it viable. There are too many issues with transaction times, possible security breaches, etc that make it almost impossible.

I think that using nanosatelites on low Earth orbit is a great idea, especially if they will be a full nodes.
That may make blockchain faster, and surely easier to send transactions through.

I have to say that i am really amazed tha someone made up this idea, I would have never get to it!

How about implementimg a big amount of solar panels on these satelites, to collect as much energy as possible, to mine the bitcoins too?
I think that connection would not be the problem, and the investment would slowly refund itself.

The communicate via Internet on the moon dude, the Internet can be easily broadcast with a satellite orbiting Mars so it's simple, with that said I think Bitcoin would be a choice for them to adopt on Mars but I hope they'd develop the satoshis to have value (say 1$=1satoshi).

it depend what country there will be there, for now russia and USA have the strongest technology to travel, if both colonize mars they would use their respectively currency, and not only usa dollars, but this will be done with electronic payment only, i can't see them using cash on another planet, it's better to comunicate with something digital, and bitcoin i think would also be good here to use

Why do you need a currency when you are not able to purchase anything from other planets and as long as there is no economics you really do not need any currency,using a currency outside earth is an ambitious thought process,let the corporate billionaires start a mega mall first then we can think about it.

I don't think that any kind of currency both Bitcoin or Fiat will be of any used in outer space. Do you know why? This deep space explorations and space travels are well funded by either the government or a sponsor (corporation) which they take care of their clothes, food, toiletries and everything they need to live outside this earth making money with no value because every need to survive is provided by to them. Look at Space Travel movies there is no scene that they will have a problem regarding to spending money in space because they don't. Also the payments for their job or service are sent directly to their bank accounts or beneficiaries left in the Earth.

The first country that can successfully put a human habitat in Mars should have the luxury to used their currency. USA has started it already so for sure dollar would be the main currency. And with the new NASA bill passed last month by the US Congress which will fund $20 billion allocated for space explorations, which bring more manned missions closer to reality. With that said, I think its possible that the US dollar will be used on Planet mars in the future.

If the mankind ever start settling in Mars, I think the most important and strong currency will be used in Mars. Also the nation who will be funding for the entire project, will want their own currency to be used in Mars as it will make their currency stronger than any other available currency. In that way, I see no reason why USD would not be used in Mars?

USD is indeed the strongest currency on earth and that should be used in Mars if NASA is funding the project.

Bitcoin would be better. I believe in not only a global but a trans planetary currency where nodes are all over the galaxy. In the year 40,000 humans will be colonizing planets and connecting nodes across planets with some technology we can't fathom, that is, if we don't blow up earth before we reach that point.

Precisely,because us dollar is an international currency that been used for such a long time im our world. That gives a reason that it will be you used also in planet mars because as we all know the united states of america is the first one whose eager to land in mars.

I think they should used the most traditional system, which is barter and after that create a new currency, using bitcoin is a great idea, but it takes time and I doubt the internet will have a good signal everytime and bringing dollar or other fiat is not effective because the amount maybe can be insufficient

If I remember right, it takes light from the sun 8 minutes to reach earth and something like 12 minutes to reach mars.

This means it could take 4 minutes for radio waves and communications between earth and mars.

That long distance could mean supplies, equipment & parts shipped from earth to mars could take months or years to arrive.

There probably won't be a large selection of goods imported to mars from earth.

This could mean rather than a system of currency, mars would have some type of barter or trade system.

There are a lot of variables that can impact something like what kind of currency is used on Mars, and chances are there will be next to no currency used on Mars until they reach a point where their society is relatively self-sufficient and it would be able to function without constant reliance on external sources, to an extent.

Chances are whichever country sets up a colony first will have that be the primary currency for colonies, until they opt to move on to their own currencies and government structures.

Well if US colonizes the Mars first, then they'll probably use $ since that would be  like a US colony, so why not? Also, I've seen this project called Asgardia, some space station country stuff and they're considering using bitcoin as a currency.

When you send people deep into space the truth is they are doing to become their own culture separated from us, with their own customs and money, if we want to explore space that is the only way it is going to work.

Yes,bitcoin would be the best choice for space.Digital transactions would make life in space easier.already,Richard brandson has said that bitcoin payment will be accepted for space tour.If it happens,dont know how much time it would take for transactions to be confirmed in mars.

for i do not think that in next few years such situations can be happen, But to me i think bitcoin is already a digital currency and therefore it will be more suitable to use bitcoin on mars,

We 'can' use bitcoin on our inter-planetary expedition and colonization however the capabilities of bitcoin to handle such loads of transaction is still too small compared to other payment gateways. USD would still be the main currency no doubt about that. But would the other nations follow suit if in case?

What's even wrong with this world i really don't understand people are dying daily because they don't have sufficient funds to buy a house , food or even pay for their health-care and people are planning to spend billion dollars on mars seriously. If this scenario continues end of world is near forget mars we can't live on earth also.

The first decade or so of human habitation of Mars, if it ever happens, will be a controlled environment not unlike being in the Navy on a ship at sea. 

When I was in the Navy, I locked up my wallet when we put out to sea and didn't touch it again until we neared port.  There was no need for money at sea.  And so it shall be on Mars (for a while).

Did the astronauts bring any dollars with them to the moon?

In the future, we're probably could find a new technology that makes the internet coverage becoming widest. As for now, NASA with their curiousity inside mars are sending data through X-band. By looking at that, I conclude that we're possible to have an internet on the mars as additional feature for space tourism. Just my 2 cents.

Yes, your right. And I think it will still be good if the Internet in the world wouldn't disappear. Together the high technology will become more improve like computers and other device where we can use bitcoin anywhere in the entire world.

Wow, good to hear bitcoin is now supporting by the person involved in the space industry. But bitcoin nowadays is only open to any one in the world who'd like to use and adopt it whether in company, or others. But it has a big impact if tat happen and be implement, And I also believed US dollars was being used on Mars, it is really supported by the US.

Until we understand the issue about currency before we can know which one is right when it comes to currency, it is whatever group of people accepts that becomes currency then they give it legitimacy and even before dollars people have been using something for transactions so if the people in mars agreed to use US dollars, then so be it and it becomes their currency.

What the hell is this? 

If there are Internet on Mars you can use Bitcoin as a currency and payment method because it's decentralized feature.
However in Mars there are no internet and it won't possible to use it as well with US dollar.

If people will be successful in creating a colony on mars then cryptocurrency including bitcoin is the best choice. Paper money isnt fit as a currency in mars due to the lack of resources such as trees to create paper money. For convenience sake and to answer the problems on resources digital money is the best thing to do. But if they decided to use bitcoin then we can expect an intense increase on bitcoins value.

No bitcoin is going to be irresistible option for the people who are going to immigrate into Mars. This is because by the time, people are finding them selves travel ready to Mars, bitcoin would have reached the levels of main stream adoptions. Probably, human may forget to use dollars and will use only bitcoins for every need.

This may seem as a well decorated joke but we need to accept the realistic of how long human may take to travel to Mars as immigrant and development and adoption growth of bitcoin at those times.

I am not thinking that dollars will go Mars.

This is a possibility and this will be used instead, regulated, controlled and governed by US of A.  Bitcoin if used will have lots of controversies due to its decentralized network and of course the control and regulation.  Probably bitcoin will be an alternative if it gets lucky.

I think $ would become digital and it would be just like bitcoin but only, the government would be controlling it.

Those interested in mars, might like this.


Summary:

They're proposing putting an electromagnetic shield in mars orbit to block solar radiation & prevent the solar wind from stripping mars of its atmosphere in order to terraform the planet and cultivate an earth like atmosphere.

I think that would be too early for them to make one. People aren't even hyped yet about going to Mars. Besides, what else can they add to it to make it stand-out from all those altcoins.



Could be. The settlers would be mostly concerned about survival first before economics. They'd probably come up with their own coin that they can use there since it'll really take some time for signal to be sent back to Earth. Even the advanced technologies NASA use have several minutes delay.

Maybe they'll first start a small network there and use that to exchange mars coins with each other (I can even imagine them using physical tokens at first). Maybe they'd use Bitcoin for sending funds back to Earth.

to me i think it will be more convenient to use bitcoin on mars instead of USD, because bitcon is the need of the modern age and most of the people are mostly depend on bitcoin fo living. so the importance of bitcoin is increasing from time to time.

Bitcoin is still too weak to compete with the dollar. Colonies on Mars will go the dollar. The problem with bitcoin is that it has not received such distribution, such as the dollar. The Americans gave the dollar loans after the war in large quantities and even if you know that the loan will not be returned. For now the dollar in all countries of the world.And on Mars will be

There's not going to be a Mars colonization. What ever Musk or others say to advertise their companies or dreaming big. There's going to be more wars in the future and space programs must be cut down.

Since many are saying that bitcoin will fly to the moon, then it should be good that bitcoin will be used on Mars. (sarcasm  )
I'm thinking that bitcoin can be used a flight ticket on a space craft going to Mars just like what cheapair.com is implementing. But if this is for real, we need to see people first living on Mars. And that will be long time before it happens, so my thought on this is those satellites will be used for the operation here on Earth.

Elon Musk, Virgin Galactic, Richard Branson and Sean Patterson endorsing bitcoin.

Round trip to the moon on SpaceShip II only 340 BTC.  

This is a lot to take in.

I would tend to think mars would have some type of barter system, initially. The economy might not be fair if some people had zero bitcoin and others had 500 btc to start. The beginning would probably be trading equipment for other pieces of equipment or services. Then maybe later mars would implement its own altcoin or currency, something mars residents would have control of, rather than something controlled by outsiders.

Lets hope not! Lets hope that if we are smart enough to establish a colony on Mars, then we will be smart enough to get rid of the horribly flawed fiat money system. Likely, what will be in place, at least for the beginning is a barter system, as it will be a tough survival.

I am afraid that after this post some nerds will creat this "Mascoin", which will be another one stupid altcoins that appear and disappear almost every day today.

I like the idea of a Marscoin, that make's it a bit more neutral. Much of what currency would be used there would depend on when and how the planet is colonized. If it's a point that bitcoin is already wide-spread on Earth, then it makes sense that it would be the currency used there. What would complicate this though would be the rivalries between the spacefaring nations. Obviously they'd all want their currency to be the one used in their colonies (and no to mention the taxes that would be paid to them by the settling companies). Still hopefully, they'll either pick-up bitcoin or maybe just make a new coin for the planet.

I was wondering though, what could be a good name for the mars coin?




Ahaha! True!

Nice thoughts, but no, sorry.
Bitcoin is designed as something extra. A side-coin, which will not replace USD, for example.
If humans will have a colony on Mars, the biggest worldwide companies will go there to sell their products. Since they pay their taxes on Earth, they'll use USD, EUR, CNY..
If the colony will become a real country, it will have a currency. There's a chance that only then we could think of Bitcoin, but even then that's a rather small chance.

Funny though that we're lookingnthis far forward. I don't even think mars can be colonated by humans in the first place. Imagine stores and businesses in mars LOL. It hasn't even been proven yet that mars  is inhabitable.

Bitcoin best suits the space world. Because things can be operated from anywhere is the basic of our virtual currencies. Dollars might be used if US explore the outer space living. Governments don't easily accept bitcoin if such an living chance increase in Mars or any other planets.

As long theres internet bitcoin can be used anywhere even you are on pluto the main issue here is the internet connection which is mainly needed on connecting between the network. It would be useless if theres no internet theres no need to create a new coin.

You mean, there should be a marscoin?

Bitcoin is not suitable to be used on mars because of the communications delay, unless someone comes up with a new instant means of communication on very long distances bitcoin is useless outside earth.

I won't happen, I don't know when mars would start to support huge community but I think the concept of money might not work overthere because the necessity here will be completely different from  Mars

Maybe we could sell come bitcoins to the marsians or some other aliens.
This is too far away in the future and nobody can predict what will happen.
I don`t think that anyone here has an idea how expensive it would be to inhabit Mars.
The cost will be so high,that it would be pointless to invest so much capital and efforts.

as long as there are a computer you can use bitcoin, you don't need the permission to anyone to use it, that's why it's decentralized

i can't see a real difference between using bitcoin here on earth or any other planet, if there are the prerequisite to use it, such as internet and a computer

and both thing are needed by the government anyway to comunicate with earth...

Probably.

No matter how you look at it it would make sense right now to use USD on Mars. I mean realistically bitcoin isn't going to even be the reserve list for an international reserve currency any time soon.

Whilst USD has been that for the past century, without a dispute, however much people despises it.

I mean, the first question shouldn't even be what currency is used on Mars, it's when we'll inhabit Mars.

Bitcoin right now is in no position to handle all transactions on the Earth. We can do without the extra load of inter-planetary and inter-galactic transactions. 

It is a good idea if Bitcoin will be the currency in the space.
But I dont think to some governments if they want it.
And im think Bitcoin technology is fit in the space.

The space age is shifting into a higher gear with extraordinary momentum. The US Congress recently directed NASA to prepare a plan for deep space exploration, which should include sending humans to Mars. Concurrently, private companies continue to create and expand the commercial space market. 

In this regard, the fact that Bitcoin is borderless and possesses other relevant, unique features makes it essential for a space-based economy.
NASA to Send Humans to Mars


CubeSats
Space exploration is gaining renewed interest. The US Senate and the US House of Representatives passed Bill S.442, respectively, in February and March 2017. The bill authorizes NASA to spend $19.5 billion in the fiscal year 2017, to work towards accomplishing objectives to advance human deep space exploration, including a journey to Mars.
The bill also directs NASA to develop a strategic plan, focusing on information security and cybersecurity.

Bitcoin-Friendly Companies  Lead the Space Industry

Interplanetary Transport System – SpaceX

The space industry is growing exponentially, particularly, in those sectors related to space tourism, space habitat, space power, and space vehicles.

On February 27, SpaceX announced plans to send tourists around the Moon. This mission would be in the context of pursuing SpaceX’s ultimate goal of transporting people to Mars.

Elon Musk, CEO of SpaceX, wants to colonize Mars. He has shown his support for the cryptocurrency declaring, “Bitcoin is a good thing.”

Another bitcoin-friendly company focusing on space tourism is Virgin Galactic, which is expanding its operations. According to its website, “Effective today [March 2, 2017], our family of space companies numbers three. As with before, Virgin Galactic will be our commercial human spaceflight services provider, and The Spaceship Company will continue to offer design, manufacturing and testing services to build vehicles for Virgin Galactic. And our small satellite Launcherone team will become our newest company: Virgin Orbit.”

Sir Richard Branson, the founder of these companies, believes that “Bitcoin is working.” Branson has announced that space tourists will be able to pay for their tours in bitcoins.

In this regard, Sean Patterson, PR Manager of Worldcore, wrote, “Now, Bitcoin holders can get a chance to join the future passengers of SpaceShip II, and the price of a round trip is approximately 340 BTC.”

Bitcoin Shoots for the Stars and Beyond

Almost from Bitcoin’s inception, cryptocurrency enthusiasts and scientists have envisioned Bitcoin-based operations in space.

Do You Think They’ll Use the US Dollars on Mars?For instance, the idea of setting up satellite networks in space for Bitcoin operations has long been pursued. Indeed, early Bitcoin miner and developer Jeff Garzik was discussing and working on the idea of nanosatellites and Bitcoin in space as early as 2013.

Indeed, Jeff Garzik was planning “to launch a network of mini-satellites to beam the blockchain of Bitcoin down to every corner of the earth – circumventing any attempts at censorship,” according to a 2014 interview.

As a result, Bitsats, nanosatellites that operate in low Earth orbit, were designed for Bitcoin operations.

The Bitsat project envisions a network comprising 24 satellites orbiting the Earth. Each satellite in the network would function as a Bitcoin node.

A Bitcoin network operating from space could enhance Bitcoin’s freedom, writes Danny Bradbury. “Each of these satellites will save the entire Bitcoin blockchain, providing a backup for the earthbound Bitcoin network. They will receive updates with new blockchain data from selected ground stations, during 15-minute passes overhead. They will then independently verify that information to make sure that it is accurate.”

Bitpremier is offering Bitsats made by Dunvegan Space Systems for, as of this writing, about 835 BTC. This price includes the spacecraft, the launching, and operations.

Bitcoin’s Intergalactic Challenges

Granted, interplanetary distance and the speed of light will have to be factored in. Mars is very far away. Therefore, the communications time delay between Earth and Mars can vary between 3 and 22 minutes, depending on their relative positions.

So, the time delay would be greater than the blockchain’s average transaction delay, which is about ten minutes by design.

On Mars and other far away planets, perhaps a “Marscoin” could be used. Then, the “Marscoin” transaction could be settled with the Bitcoin’s blockchain. Thus, Bitcoin could act as a truly universal currency.

Earth-Moon transactions would not be an issue because the communications delay is only 1.3 seconds.

Bitcoin is here to stay. Eventually, humans will settle in space, and astropreneurship will become a mainstream activity.

Commerce in space will undoubtedly be cashless. Fiat currencies, already obsolete, will be of no use in a space-based economy. Therefore, let’s apply the amazing potential of Bitcoin and its blockchain technology to create innovative business solutions related to the emerging space economy.
What do you think about Bitcoin being the currency of the space economy?