A Planetary Bitcoin Revolution
Since 2009 a new invention, a peer-to-peer decentralize secure requital and monetary system, bitcoin, has demonstrated quite mighty how a future erratic economic and fiscal organization could look like [ 8 ]. indeed, as many observers have noted, the most difficult separate in using bitcoin is actually the “ bequest system ” of our established old bank and fiscal diligence .
It might seem coherent that on a newfangled planetal village a requital and rate transfer/storage system such as bitcoin would be utilitarian foremost and first. It is identical improbable that the first martian settlers will start printing paper but it stands to reason that they will need a way to track possession pretty cursorily. In fact, a barely cryptocurrency would allow the developing martian economy to operate freely even prioritize allocating resources towards real needs while ensuring that the early stake-holders, risk-takers and most experience colonists benefit the most .
however, due to the nature of interplanetary communication, Mars is besides far from Earth to allow it to participate in the bitcoin network on land. The clock time it would take for a payment on Mars to be confirmed by the blockchain on Earth would be besides impractical. Therefore the Mars settlement would start their own cryptocurrency [ 9 ] .
Reading: Marscoin – About Us
The Solution: Marscoin
If, however, we were to start that cryptocurrency here on Earth, ahead of clock, and donate an initial push-down storage of Marscoins to the efforts of the Mars Society, one of the largest international outer space advocacy organizations [ 11 ] with the goal of kickstarting Mars colonization through non-profit activities and research projects, volunteer shape and fund of space relate activities, we could start mining and using Marscoins alongside other cryptocurrencies until the foremost settlement gets established .
The more people that adopt Marscoin and use it in their daily lives, the more Mars colonization efforts will benefit. Marscoin, defined as a fathom monetary alternate to Bitcoin [ 12 ] would grow in purchasing power and therefore quite naturally be able to fund developments directed to the establishment of a first Mars settlement ( immediately or indirectly ). Just by utilizing and acquiring Marscoin, private individuals would participate in the biggest Kickstarter project of all time, supporting distance outreach efforts while enabling humanness ’ sulfur foremost foothold on another satellite. barely by adopting Marscoin, the first extra-terrestrial basis in the Solar System could be bootstrapped or at the identical least efforts to do so could be funded. As of December 2017 the market cap of all cryptocurrencies is 600 billion USD – any growth in Marscoin could bring humans closer to taking a mistreat among the stars.
An increase value of Marscoin will mean increased fiscal means for the Mars movement. As an early adoptive parent, you will be a share of this history. Our Whitepaper goes into farther depth on the necessitate for and murder of Mars ’ own economic bedrock, the Marscoin Blockchain.
Marscoin on Mars – Future of Prosperity & Progress
In addition, everyone who downloads the Marscoin customer initially and starts mine and using it and thus supporting the endeavor will have a stake in any future emergence of a martian economy ( or Earth-side adaptation ) in correlation to his early level of engagement – with the privacy and anonymity of cryptocurrencies this engagement can easily be transferred to future generations on Mars : once the inaugural crewed SpaceX Starship heads towards Mars, a copy of the blockchain could be transferred to Mars by some volunteering martian settler and apparatus as the first mine node on Mars. The deflationary “ cap ” on the numeral of issue coins and frankincense the ability to participate in Marscoin, to reserve your “ Kickstarter spot ” on the use of Marscoin here on Earth, will lead to time-based scarcity increasing the measure of Marscoin anterior to moving to Mars and frankincense increasing the financing available to the early non-profit organizations and therefore the speed with which the settlement can be made a reality .
On Mars, early on colonists will continue to mine Marscoin. Because Marscoin is derived from Litecoin, its frequent confirmations ( 2.5 minutes ) and handwriting hashing algorithm will make it convenient and batten. There will be no need for expensive and dearly-won mine machinery to keep the network running. besides, proposals exist that could add extra layers of security on Marscoin to prevent potential Earth-side hindrance with the blockchain on Mars ( due to the distance there, it is relatively easy to protect Marscoin from Earth ). finally, we can envision exchanges that will allow money conversion from Bitcoin ( Earthcoin ) to Marscoin on Mars and Earth. Marscoin is a project that involves a senior high school sum of risk – it ’ s a british labour party of love and a ball-shaped experiment in distribute collaboration for quad colonization. Take a expect for our roadmap and blueprint ideas a well. We believe that network effects make it about impossible for other coins beside Bitcoin to become ball-shaped reservation currency networks but are very good in our efforts to make Marscoin the beginning cryptocurrency network on Mars .