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Musk: Mars settlers could trade in 'Marscoin'

By T.K. Randall
January 15, 2021 · Comment icon 18 comments

Could Mars one day have its own economy ? Image Credit: NASA
People living on Mars could one day leave regular currency behind in favor of Mars-based cryptocurrencies.
The question of whether or not future off-world colonies will have their own economies and currencies is not something that crops up very often, however it seems that even this is something that SpaceX CEO (and now world's richest man) Elon Musk has taken into consideration as he continues his efforts to develop the technologies needed to see mankind succeed beyond the Earth.

During a recent Twitter discussion, he posted in confirmation of the suggestion that future Mars settlers might trade in cryptocurrencies - in particular the aptly-named 'Marscoin'.

It might sound like a made up name, but this futuristic cryptocurrency actually exists and is already in use today in the hope of one day becoming the dominant currency on the Red Planet.

"Marscoin will be closely following the progress made by SpaceX, The Mars Society and other leading visionaries in space exploration," an FAQ on the official Marscoin website states.
"Marscoin could be officially forked and transferred to Mars at the time of the first manned departure or later in the settlement's development. "

Virtual currency would certainly have many advantages on Mars, not least of which being the lack of any need to make, transport and store large quantities of physical cash.

A Mars-specific currency would also hold value relative to the planet's specific economic conditions.

Who knows - perhaps one day, every colonized world will have its own independent currency.

Source: Popular Mechanics | Comments (18)

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Recent comments on this story
Comment icon #9 Posted by Desertrat56 3 years ago
Still, he invested in it.  I don't know the details but if it wasn't for his money would it have gotten off the ground?  
Comment icon #10 Posted by Crazy Horse 3 years ago
No.. But I am still glad that social media groups have lost $51 billion since banning Trump.
Comment icon #11 Posted by Crazy Horse 3 years ago
How do you know it wouldn't of gotten off the ground?
Comment icon #12 Posted by Desertrat56 3 years ago
I am asking, do you know what a question mark indicates?  Do you know the answer?  I don't, that's why I asked @Rolltide
Comment icon #13 Posted by Crazy Horse 3 years ago
To be honest I didn't see the question mark, my bad.  
Comment icon #14 Posted by Rolltide 3 years ago
They were very much off the ground before Elon invested with his Paypal money, but to his credit he did take them to where they are today with his business acumen.   Tesla, originally Tesla Motors, started out in 2003 when a group of engineers, who had a passion for electric cars, wanted to show people that they didn't need to compromise when considering buying one. They strived to develop their own range of cars that could be, in the company's words, "better, quicker and more fun to drive than gasoline cars." One of the main motivations for starting Tesla was the recent retirement of the Gen... [More]
Comment icon #15 Posted by Orphalesion 3 years ago
Yes, you can pretty much get the same experience as living on Mars by moving to Antarctica. Only that Antarctica is a lot more suited to human habitation.
Comment icon #16 Posted by spartan max2 3 years ago
I wish the other billionaires were as big of sci-fi nerds as Musk.
Comment icon #17 Posted by DreadLordAvatar 3 years ago
It’s all for his ego and eccentric delusions.  If he had any real sense, he would invest in this planet and be a real hero to curb anthropocene. 
Comment icon #18 Posted by spartan max2 3 years ago
He does. Compared to other top billionaires at least. Plus his flagship of innovation in electric vehicles certainly would have much more real effect on climate than say amazon or googled operations.   Also I think his Neurolink company is going to do some awesome things in the future.  

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