Mining on another planet. Possible? - page 3.

dree12

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Quote from: Puppet on October 29, 2013, 06:31:47 PM

Quote from: GigaWave on October 28, 2013, 10:21:53 AM

Speed of light is the "fastest internet connection" you are going to get.

This always bothered me; assume a string of (non elastic) rope from earth to Mars. If someone pulls it on earth, wouldnt it be noted instantly on Mars?

Nope. Not even gravity will be noted instantly. If I disappeared Earth right this instant, Martians will only notice the change in gravity after the gravitational waves arrive, coincidentally at the speed of light.

j68r

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Quote from: Puppet on October 29, 2013, 06:31:47 PM

Quote from: GigaWave on October 28, 2013, 10:21:53 AM

Speed of light is the "fastest internet connection" you are going to get.

This always bothered me; assume a string of (non elastic) rope from earth to Mars. If someone pulls it on earth, wouldnt it be noted instantly on Mars?

http://math.ucr.edu/home/baez/physics/Relativity/SpeedOfLight/FTL.html#4

Puppet

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Quote from: GigaWave on October 28, 2013, 10:21:53 AM

Speed of light is the "fastest internet connection" you are going to get.

This always bothered me; assume a string of (non elastic) rope from earth to Mars. If someone pulls it on earth, wouldnt it be noted instantly on Mars?

dree12

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Activity: 1246

Merit: 1077

By the time humans settle Mars, the block reward would have decreased significantly and will no longer be an important factor of mining. The solution, consequently, is simple: add a "second genesis block" to Bitcoin. These blocks are identical to regular blocks, except they employ a different hashing algorithm (to prevent Earth-miners from overtaking the Mars chain), and primarily deal with transactions broadcast to Mars. Interplanetary transactions will certainly take a while, as the Mars blocks will need to be broadcast to Earth, but are seamlessly integrated into the system. Transactions limited to a single planet work as expected.

Every time a new planet is settled, new genesis blocks can be created, one for each planet.

Moshi

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Quote from: edd on October 29, 2013, 02:09:16 PM

Quote from: Rannasha on October 29, 2013, 10:13:07 AM

Quote from: xephireusMMX on October 29, 2013, 04:48:51 AM

Quote from: Foxpup on October 28, 2013, 10:14:07 PM

Mining Bitcoin on Mars is totally infeasible, as almost all blocks mined on Mars will be orphaned by the time they reach Earth. I have talked about a solution before:

Quote from: Foxpup on September 09, 2013, 08:06:05 PM

Each planet will have its own locally-mined cryptocurrency (Marscoin, etc), which each have a floating exchange rate to the original Earth-based Bitcoin. Marscoins and bitcoins can be directly traded for each other in order to settle interplanetary trade balances, the only issue is the speed-of-light delay for confirmations (which is unavoidable no matter what). Naturally Bitcoin can't be mined on Mars and Marscoin can't be mined on Earth, but that's not important.

Depends on Bitcoin hashing speed on Mars, if you have more Bitcoin hashing speed on Mars, Earth Bitcoin miners will not mine much Sad

True, whichever planet has the largest hashing power will eventually dominate. Regardless of who "wins", it's not good for Bitcoin as interplanetary currency. Only if the communication delay is negligible compared to the average block-time, will it interplanetary mining be feasible. A coin with a 24hr block-time can be mined on Earth and Mars just fine (assuming a network connection can be established of course).

Using bitcoins as interplanetary currency has been discussed here before, several times.

The only method that makes sense to me is for each planet to have their own version. Travelling from earth to Mars? Sign in to your local exchange before you go and trade some bitcoins for Marscoins. Mining bitcoins would only work for earthlings and mining Marscoins would only work for Martians.

This could get interesting when miners start hopping planets to take advantage of hashrate and price discrepencies.

og kush420

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when we are living on mars, what use will we have for bitcoins? though i like the idea of 'marscoin' /\

bumpk1nK

sr. member

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You only encouraging someone to launch another alt coin, Marscoin Cheesy

maz

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I love how folk are already fleshing out the technicalities of it. Gotta love the Bitcoin community...

edd

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Quote from: Rannasha on October 29, 2013, 10:13:07 AM

Quote from: xephireusMMX on October 29, 2013, 04:48:51 AM

Quote from: Foxpup on October 28, 2013, 10:14:07 PM

Mining Bitcoin on Mars is totally infeasible, as almost all blocks mined on Mars will be orphaned by the time they reach Earth. I have talked about a solution before:

Quote from: Foxpup on September 09, 2013, 08:06:05 PM

Each planet will have its own locally-mined cryptocurrency (Marscoin, etc), which each have a floating exchange rate to the original Earth-based Bitcoin. Marscoins and bitcoins can be directly traded for each other in order to settle interplanetary trade balances, the only issue is the speed-of-light delay for confirmations (which is unavoidable no matter what). Naturally Bitcoin can't be mined on Mars and Marscoin can't be mined on Earth, but that's not important.

Depends on Bitcoin hashing speed on Mars, if you have more Bitcoin hashing speed on Mars, Earth Bitcoin miners will not mine much Sad

True, whichever planet has the largest hashing power will eventually dominate. Regardless of who "wins", it's not good for Bitcoin as interplanetary currency. Only if the communication delay is negligible compared to the average block-time, will it interplanetary mining be feasible. A coin with a 24hr block-time can be mined on Earth and Mars just fine (assuming a network connection can be established of course).

Using bitcoins as interplanetary currency has been discussed here before, several times.

The only method that makes sense to me is for each planet to have their own version. Travelling from earth to Mars? Sign in to your local exchange before you go and trade some bitcoins for Marscoins. Mining bitcoins would only work for earthlings and mining Marscoins would only work for Martians.

Gabi

legendary

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If you want to walk on water, get out of the boat

Quote from: Anon136 on October 29, 2013, 12:16:32 AM

quantum entanglement should allow for instantaneous communication over any distance.

No. Please stop spreading false informations.

blub

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Merit: 10

Quote from: GigaWave on October 29, 2013, 10:43:44 AM

Quote from: Foxpup on October 29, 2013, 01:07:16 AM

Quote from: Anon136 on October 29, 2013, 12:16:32 AM

quantum entanglement should allow for instantaneous communication over any distance.

It shouldn't and it doesn't.

Why shouldn't it? I guess you know everything their is to know about quantum mechanics,.... better let the rest of the world know so they can give up their research.

It shouldn't and it doesn't.
I cearainly don't know everything that is to know about quantum mechanics, but I've studied quantum mechanics and quantum field theory for more than 1.5 years now.

The problem is: you can enforce a particle that is in a superposition of 2 states to bee in one of the 2 states over great distances, but you don't get to choose which of the states it gets into.

When your communication partner measures the particles, he can't distinguish between particles that were forced into one state by his measurement, and particles that were in a pure state before. So no communication with quantum entanglement

GigaWave

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Quote from: Foxpup on October 29, 2013, 01:07:16 AM

Quote from: Anon136 on October 29, 2013, 12:16:32 AM

quantum entanglement should allow for instantaneous communication over any distance.

It shouldn't and it doesn't.

Why shouldn't it? I guess you know everything their is to know about quantum mechanics,.... better let the rest of the world know so they can give up their research.

Rannasha

hero member

Activity: 728

Merit: 500

Quote from: xephireusMMX on October 29, 2013, 04:48:51 AM

Quote from: Foxpup on October 28, 2013, 10:14:07 PM

Mining Bitcoin on Mars is totally infeasible, as almost all blocks mined on Mars will be orphaned by the time they reach Earth. I have talked about a solution before:

Quote from: Foxpup on September 09, 2013, 08:06:05 PM

Each planet will have its own locally-mined cryptocurrency (Marscoin, etc), which each have a floating exchange rate to the original Earth-based Bitcoin. Marscoins and bitcoins can be directly traded for each other in order to settle interplanetary trade balances, the only issue is the speed-of-light delay for confirmations (which is unavoidable no matter what). Naturally Bitcoin can't be mined on Mars and Marscoin can't be mined on Earth, but that's not important.

Depends on Bitcoin hashing speed on Mars, if you have more Bitcoin hashing speed on Mars, Earth Bitcoin miners will not mine much Sad

True, whichever planet has the largest hashing power will eventually dominate. Regardless of who "wins", it's not good for Bitcoin as interplanetary currency. Only if the communication delay is negligible compared to the average block-time, will it interplanetary mining be feasible. A coin with a 24hr block-time can be mined on Earth and Mars just fine (assuming a network connection can be established of course).

xephireusMMX

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Merit: 100

Quote from: Foxpup on October 28, 2013, 10:14:07 PM

Mining Bitcoin on Mars is totally infeasible, as almost all blocks mined on Mars will be orphaned by the time they reach Earth. I have talked about a solution before:

Quote from: Foxpup on September 09, 2013, 08:06:05 PM

Each planet will have its own locally-mined cryptocurrency (Marscoin, etc), which each have a floating exchange rate to the original Earth-based Bitcoin. Marscoins and bitcoins can be directly traded for each other in order to settle interplanetary trade balances, the only issue is the speed-of-light delay for confirmations (which is unavoidable no matter what). Naturally Bitcoin can't be mined on Mars and Marscoin can't be mined on Earth, but that's not important.

Depends on Bitcoin hashing speed on Mars, if you have more Bitcoin hashing speed on Mars, Earth Bitcoin miners will not mine much Sad