reply on: How would Bitcoin work in an Interplanetary Economy? \ stacker news ~bitcoin

21 sats \ 9 replies \ @didiplaywell OP 29 Jul \ parent \ on: How would Bitcoin work in an Interplanetary Economy? bitcoin

Any sort of currency exchange will imply for the currency to have a validation system in more than one planet, so what you just said seems very likely to me: transaction of goods will be a first robust way to trade. But, of course, it will soon face the same limitations it always had, and as with the economy on earth, there will be demand for a unit of account at inter-planetary scale. There's no reason why bitcoin can't be that unit, but at that point it will for sure imply a major evolution on the protocol, of which the technical aspects I refrain from project for I ignore too much.

20 sats \ 8 replies \ @Satosora 29 Jul

I think a major exchange will be goods. But will be interesting to see what kind of currencies pick up. It would have to be all digital, right? I dont see us printing money much longer.

62 sats \ 7 replies \ @didiplaywell OP 29 Jul

There might be a sort of intermediary currency, or directly replicating foreign exchange markets as @Undisciplined suggested. There will be no issue on trading at all, it will not get delayed a second in it's development. But the question is more about how a system like bitcoin will work in that context too, due to the importance we know it haves for our planetary economy, which will keep being true at inter-planetary scale.

10 sats \ 6 replies \ @Satosora 29 Jul

Yeah, I think there wont be a problem. Eventually they will come of with an elegant solution. Maybe they will put some printers up there just like the federal reserve.

41 sats \ 5 replies \ @didiplaywell OP 29 Jul

I'm certain that will not happen. Inter-planetary commerce will be on full control of entrepreneurship, governments will be powerless in the space-colonization era. Elon Musk will conquer Mars, not the US govt. What are they going to do? Summon him back to Earth? I can imagine Elon response: "Come in and chase me bitch? With what? What rockets? Mines?". Even today the US govt and Nasa can reach outer space solely thanks to Musk's launchers. No capitalist will bow unnecessarily to a FED system which is not only useless but even less powerful. You can safely forget about the pathetic FED era

20 sats \ 4 replies \ @Satosora 29 Jul

Haha I guess I didnt think along those lines. That is kind of true. What could they do?

41 sats \ 3 replies \ @didiplaywell OP 29 Jul

Musk controls space and planetary inter-communications even today. Only he is able to provide communication in Ukraine territory amidst a war. The US govt can't but to hire his services because it's incapable of providing such a critical defensive infrastructure itself. Elon has to be seated at every Pentagon meeting regarding national security ever since. Try to project where that will go once he haves an entire planet for himself with unlimited resources, if he is capable of this now while having to deal with a state which is only capable to use it's legal power to enforce transgender laws on children. The fight was over before it begin.