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Topic: Mining on another planet. Possible? - page 4. (Read 6545 times)

legendary
Activity: 1456
Merit: 1018
HoneybadgerOfMoney.com Weed4bitcoin.com
October 28, 2013, 10:35:51 PM
#8
As far as I understand you could spend a Bitcoin on Mars. The light travel time means it could take up to 30 minutes to get the first confirmation, so that's not a massive problem.

But what about having miners on Mars, perhaps to speed up confirmation times for colonists.

How would the protocol fair when say a block is found on Mars and it could take nearly half an hour for it to arrive on earth?



Last I check there is no internet connection in Mars Smiley

Check again:

"NASA Shoots Lasers at the Moon to Create Insanely Fast Internet"

http://www.wired.com/wiredscience/2013/10/nasa-internet-laser/

 laser beam?Huh you mean line of sight.....yea right thats totally economical to limit internet to a 20 minute window each day.
back to reality - don't you think btc will be antiquated?  I don't see humans populating mars at all...or by the time they do, bitcoin will be obsolete completely.  Just cause its a thought doesn't mean it makes any sort of good sense. Mars makes sense like living on the moon does....it doesn't.
member
Activity: 67
Merit: 10
October 28, 2013, 10:34:00 PM
#7
As far as I understand you could spend a Bitcoin on Mars. The light travel time means it could take up to 30 minutes to get the first confirmation, so that's not a massive problem.

But what about having miners on Mars, perhaps to speed up confirmation times for colonists.

How would the protocol fair when say a block is found on Mars and it could take nearly half an hour for it to arrive on earth?



Last I check there is no internet connection in Mars Smiley

Check again:

"NASA Shoots Lasers at the Moon to Create Insanely Fast Internet"

http://www.wired.com/wiredscience/2013/10/nasa-internet-laser/
legendary
Activity: 4542
Merit: 3393
Vile Vixen and Miss Bitcointalk 2021-2023
October 28, 2013, 10:14:07 PM
#6
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:

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.

An interplanetary coin with a block target of several Earth days (to allow interplanetary mining) is also a possibility for interplanetary trade or as a solar-system-wide reserve currency, but probably not necessary as long as the planetary coins can be freely traded, in which case it's likely that Bitcoin will become the solar-system-wide reserve currency (making all previous price predictions seem hopelessly pessimistic).
full member
Activity: 239
Merit: 250
October 28, 2013, 10:21:53 AM
#5
If we can get a fast enough connection between another planet and Earth, it could be possible.

Speed of light is the "fastest internet connection" you are going to get. Which leaves you with a transmit time of between 3 and 22 minutes, depending on the orbit.
sr. member
Activity: 322
Merit: 250
October 28, 2013, 08:33:31 AM
#4
As far as I understand you could spend a Bitcoin on Mars. The light travel time means it could take up to 30 minutes to get the first confirmation, so that's not a massive problem.

But what about having miners on Mars, perhaps to speed up confirmation times for colonists.

How would the protocol fair when say a block is found on Mars and it could take nearly half an hour for it to arrive on earth?



Last I check there is no internet connection in Mars Smiley
b!z
legendary
Activity: 1582
Merit: 1010
October 28, 2013, 08:15:29 AM
#3
If we can get a fast enough connection between another planet and Earth, it could be possible.
sr. member
Activity: 434
Merit: 250
In Hashrate We Trust!
October 27, 2013, 05:44:10 PM
#2
How would the protocol fair when say a block is found on Mars and it could take nearly half an hour for it to arrive on earth?
The protocol must be adjusted for the lag in time between nodes at planet A and B so they can have a chance to sync with each other.
each block will need to be at least lag_time * 2 = 1 hour for all nodes to accept the blockchain
newbie
Activity: 29
Merit: 0
October 27, 2013, 05:15:06 PM
#1
As far as I understand you could spend a Bitcoin on Mars. The light travel time means it could take up to 30 minutes to get the first confirmation, so that's not a massive problem.

But what about having miners on Mars, perhaps to speed up confirmation times for colonists.

How would the protocol fair when say a block is found on Mars and it could take nearly half an hour for it to arrive on earth?

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