Replying to Avatar azz

What will be the money on Mars?

Bitcoin mining won’t be able to happen (most of the time) on Mars, while the block time is 10 minutes due to Mars’ RTT of 5-20 minutes, dependent on distance.

Currently, bitcoin establishes international consensus every 10 minutes. We can do this because we can reach anywhere within our consensus scope (earth currently) within 10min. Earth’s circumference is about 0.134 light seconds.

When humanity becomes interplanetary, likely on Mars, bitcoiners should consider linearly increasing the block time and limits.

This would allow Bitcoin to achieve international and interplanetary consensus, therefore supporting interplanetary economic activity and acting as an interplanetary currency and store of value.

For the solar system, a safe bet would be a 30-minute to a 1-hour block time, with limits adjusted linearly to that.

Thoughts?
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The Fockin’ Fury 2y ago

Maybe a sharding approach is better. Mining happens locally on Mars so that you can maintain 10m block time. Blocks are synced with earth every 20 mins to account for RTT. To spend money on Mars a traveler would need to transfer to MarsChain first. Probably plenty of problems with this but fun to think about.

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