What currency shall human use when colonizing Mars

Vishnu.Reang

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Quote from: befriendmywater on June 05, 2019, 02:27:13 AM

I watched movies about natural disasters, when the earth exploded, the people still brought money to continue spending on Mars. so I think fiat money in countries is still applied normally.
then money matters no longer, the most important issue is to create life in Mars.

but someone can bring anything that they value valuable, and not necessarily fiat money will be useful there, because everything depends on the situation and conditions. just like during a war, where money has no value

Those early pioneers who plan on colonizing Mars will be the citizens of some UN member state, right? In that case, what prevents them from using fiat currency? Unless the territory in Mars declare itself as an independent nation and mints its own national currency, the fiat currencies such as US Dollar and Euro may remain as the preferred mode for payments.

CASTIEL05

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Talking with this today, seems impossible. Why not assure first that we can really be able to live in Mars? Then, we can plan for living there. Our currency in earth value more the fiat than digital currency. Since we started from traditional economy in our history. Who knows that if we will have a chance to live there we can be rich by exploring the hidden minerals esp. Gold

armarsterling7

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Quote from: jinc on April 24, 2019, 02:44:55 AM

The first black hole picture reminds me Elon Musk's quote

Quote

Mars should really have great bars.

It made me wonder what currency shall we use in that bar on Mars. Will it be fiat or cryptocurrency? Will there be a heated fight whether the bar tender shall accept USD or RMB? Is there an ATM for converting AUD to BTC?

Full article is https://support.jinance.com.au/hc/en-us/articles/360000906595-What-currency-shall-human-use-when-colonizing-Mars

When all of us transfer to Mars, I think there will be no internet that can help us to exploit coins and electricity, so we cannot meet the transaction and access the website.
There, we actually took many years to rebuild a new earth. We must exploit as workers and seek resources for the new earth. Those are the challenges that we need to overcome before thinking about which currency to use.

befriendmywater

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I watched movies about natural disasters, when the earth exploded, the people still brought money to continue spending on Mars. so I think fiat money in countries is still applied normally.
then money matters no longer, the most important issue is to create life in Mars.

Tylev

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An interesting topic, but not yet timely. When Mars is colonized, the question of money, I think, will not stand at all. In any case, the cryptocurrency is hardly suitable for this. It can be used in a developed society, and in the conditions of its formation, barter or any other common eternal values such as gold, a rare source of energy or something like that will be most suitable.

cryptolord2077

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I doubt that at the initial stages of the colonization of Mars in general any currency would be appropriate. Colonists must have everything they need in free access for the effective accomplishment of their tasks.

indrakusumaindra

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Quote from: jinc on April 24, 2019, 02:44:55 AM

The first black hole picture reminds me Elon Musk's quote

Quote

Mars should really have great bars.

It made me wonder what currency shall we use in that bar on Mars. Will it be fiat or cryptocurrency? Will there be a heated fight whether the bar tender shall accept USD or RMB? Is there an ATM for converting AUD to BTC?

Full article is https://support.jinance.com.au/hc/en-us/articles/360000906595-What-currency-shall-human-use-when-colonizing-Mars

well cryptocurrency will be really good to start economy in mars, and i do think stable coins would be a good choices and it will be goes really well in mars.

wahyu wida

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Quote from: jrrsparkles on June 01, 2019, 10:26:07 PM

Quote from: normanz on June 01, 2019, 05:27:17 PM

Bitcoin is the currency of Mars, I think it's too high an imagination, bitcoin will only be a cryptocurrency in the world and it never occurred to me to be used on Mars.

Didn't understand your statement clearly yet.Bitcoin is not the only currency we have and we already have many cryptos and still many digital currency even gold in digital forms so why you think that Bitcoin will be that one.

same as the bitcoin price prediction, which in essence no one knows for sure, maybe he is based on the crypto currency that leads, so he can imagine bitcoin. I read Mars will be visited by mass starting in 2024

jrrsparkles

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Quote from: normanz on June 01, 2019, 05:27:17 PM

Bitcoin is the currency of Mars, I think it's too high an imagination, bitcoin will only be a cryptocurrency in the world and it never occurred to me to be used on Mars.

Didn't understand your statement clearly yet.Bitcoin is not the only currency we have and we already have many cryptos and still many digital currency even gold in digital forms so why you think that Bitcoin will be that one.

normanz

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Bitcoin is the currency of Mars, I think it's too high an imagination, bitcoin will only be a cryptocurrency in the world and it never occurred to me to be used on Mars.

FlightyPouch

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Quote from: Haunebu on April 24, 2019, 03:52:55 AM

Forget Mars. We need to focus on making our planet a better place to live in by improving energy efficiency etc.

Mars is the only habitable planet in the solar system, other than Earth, it is not possible scientist and other people that study this will ever forget or don't mind mars. I've read in the past that if the use of our resources continues, it would be depleted in 2050, it might be a assumption or hypothesis but all we know is that our resources will never stay the same. Even if human created another way for efficient energy, pollution and other things will happen and people will still colonise other planet and Mars is the first one.

Shenzou

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Everyone here is fantasizing and imagining that when people are going to be on mars are going to use cryptocurrency or bitcoin, and they forgot the most important things, A:that going to mars and actually establishing a community there is not going to be until a couple of decades and by then it could be canceled since we don't know if humans technically could live there we just have to experiment with it first, B: going to mars is not going to be cheap, its not like you are going to move up state, its going to be hell expensive we are talking about 6 billion dollars to just bring 4 people up there, and this whole idea was just made to make profit for whoever is going to take on this project and that means that they want actually fiat probably not the actual paper money but bank transfers.

Netnox

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Quote from: googol.star on May 29, 2019, 07:46:33 PM

Mars won't be colonized for probably thousands of years. Too much money for very little benefit.

I am not too sure about that. The first manned mission may happen before 2030. Colonization is very difficult, given the climatic conditions. But as technology advances it may be made a reality. Taking an optimistic scenario, I would say that we may see human colonies in Mars by 2060 or 2070. If you want to think a bit more conservatively, then 2100 is a good target.

A L I E N

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Quote from: Oceat on May 29, 2019, 07:09:53 PM

Quote from: uneng on May 29, 2019, 05:49:06 PM

Mars is going to be colonized by a private business, so this business owner will choose what currency they will use there.
They will probably create a centralized crypto stablecoin to use it in Mars, same as Facebook is doing. I say that because I doubt they will adopt a volatile currency in a colony where people need it to buy things daily. Furthermore, a decentralized currency could be used by other people from outside Mars, rivals to sabotage the colony economy.

Living on Mars would be expensive since it is not really that habitable with the current situation of that planet. Colonizing it is just like living in space since the method of living like a normal being you need some equipment and that would be expensive too. Whatever currency they may have used it still doesn't matter since no one would live a life on there with the given resources on Earth.

Suppose, when and IF it happens, and humans decide to live on Mars as well, some other payment systems will be used - everything will be changed. I do not think that it really interests somebody.

emmybd

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I believe the country that establish the colony there first would use the currency of its own liking. It can be United States or China, other are not in the race. It has to be a digital currency.

Theb

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The topic is more political rather then anything related to economics. Most of the outer space projects we see at the current stage are all funded basically everything of the people's basic needs outside our Earth are all covered in order to possibly live there, so I really don't expect anyone to be using any kind of money just so he/she can live in space. If they do chose to have some kind of colony in Mars I do think people who are chosen have to prepay for everything so they all have their expenses covered, now if they are living their for a long time I see them using the fiat money depending on what government's colony are they are into. They won't be using any kind of new money at this stage as there is really no point on messing up the whole system without any purpose of doing so.

awik p

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Quote from: beerlover on May 30, 2019, 12:25:12 PM

Quote from: Ozero on May 29, 2019, 02:12:30 PM

The colonization of Mars is very real and necessary. Humanity now needs to think about a reserve habitat in case of a global catastrophe on planet Earth. In addition, it is not as difficult as it seems at first glance. Recently, on Mars, under a layer of dust, ice deposits have been discovered, which, if melted, would be enough to cover the planet Mars to a height of one and a half meters with water. This will greatly simplify the colonization of this planet.
As for cryptocurrency, it is unlikely to be among the primary issues in the colonization of Mars in the next fifty years.

We have not completely colonized the earth that was designed for humans by God, it is now mars that we are aiming to colonize. I can see that we are too full in the belly and looking for something to punch it for us. What global catastrophe are you guys dreaming of that will not also affect other planets?

The only catastrophe is that of Armageddon recorded by the Christian which will bring about the doom of human and if you like run to moon then, you will still be affected. So we better focus on how we can make this wonderful planet better and use our cryptocurrency here to the best of our knowledge.

right, very far we think that bitcoin is used for the colonies on Mars later. whereas on earth Bitcoin is still struggling to gain trust to carry out its fun as a currency. I think we should focus more on clear goals

LUCKMCFLY

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I think it can be gold and digital currency bitcoin, I think FIAT money would not apply because it would be somewhat complicated to create banks on a planet where they have very minimal living conditions and require machines for oxygen and have acceptable living conditions to survive, in addition you could send money in Bitcoin from the earth to Mars, taking advantage of the Blockchain technology.

beerlover

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Quote from: Ozero on May 29, 2019, 02:12:30 PM

The colonization of Mars is very real and necessary. Humanity now needs to think about a reserve habitat in case of a global catastrophe on planet Earth. In addition, it is not as difficult as it seems at first glance. Recently, on Mars, under a layer of dust, ice deposits have been discovered, which, if melted, would be enough to cover the planet Mars to a height of one and a half meters with water. This will greatly simplify the colonization of this planet.
As for cryptocurrency, it is unlikely to be among the primary issues in the colonization of Mars in the next fifty years.

We have not completely colonized the earth that was designed for humans by God, it is now mars that we are aiming to colonize. I can see that we are too full in the belly and looking for something to punch it for us. What global catastrophe are you guys dreaming of that will not also affect other planets?

The only catastrophe is that of Armageddon recorded by the Christian which will bring about the doom of human and if you like run to moon then, you will still be affected. So we better focus on how we can make this wonderful planet better and use our cryptocurrency here to the best of our knowledge.

Febo

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Quote from: jinc on April 24, 2019, 02:44:55 AM

The first black hole picture reminds me Elon Musk's quote

Quote

Mars should really have great bars.

It made me wonder what currency shall we use in that bar on Mars. Will it be fiat or cryptocurrency? Will there be a heated fight whether the bar tender shall accept USD or RMB? Is there an ATM for converting AUD to BTC?

Full article is https://support.jinance.com.au/hc/en-us/articles/360000906595-What-currency-shall-human-use-when-colonizing-Mars

Not the same as on Earth since it takes time that signal come from Earth to Mars.

Topic: What currency shall human use when colonizing Mars (Read 11911 times)