Why Marscoin?

How Marscoin can help us fund the first colony in the Solar System


It needs to be done

In 1990 Robert Zubrin and David Baker published a feasibility study detailing plans for a journey to Mars and building a rudimentary base using the natural resources available on Mars [1]. Even though NASA adopted the plan 20 years after the last moon-landing and eventually canceled it due to budget reasons, another two decades later the chances that government-funded colonization of the solar system will ever happen – even though technologically possible – remain slim.

In 1998 The Mars Society was founded at a convention in Boulder, Colorado [2] and Robert Zubrin has led the organization ever since, to keep the dream alive of sending humans to Mars within a decade. Since that time, the Mars Society has built and operated two analog research stations, pioneering serious research on the human factors challenges for humans to Mars mission.

At the same time, the risks associated with asteroids, climate changes, super-volcanoes, pandemics etc. have not decreased [3] and opportunities resulting from pushing technological boundaries, inspiring new generations, scientific exploration and engineering challenges could not be greater [4].




The visionaries

Therefore, a series of individuals have in recent years started to explore ways to take matters into their own hands. Most notably Elon Musk with SpaceX [5] Mars One [7] and others [10].

We believe that Mars colonization is a moral imperative. For the sake of future generations and out of gratitude for the achievements of earlier generations that gifted us with this level of knowledge and technological expertise we simply can not to let such opportunity go to waste. We should, therefore, make the best use of our current technological capabilities and push for the beginning of a settlement and colony on Mars. The resources such an endeavor will ultimately unlock, the science and engineering frontiers it will open up and the unifying power it will exert on mankind are truly inspiring.

The biggest obstacle for beginning to explore settling other parts of the Solar System – in particular, the next best choice which is Mars – has been and will be (for the foreseeable future at least) the big question of funding for such a project. Even though technologically challenging, a Mars mission and colony are within the realm of our current capabilities at the approximate initial cost of 10 [7] to 30 billion USD, far less than many other recent government expenses. Interesting fact: Satoshi Nakamoto, the developer of Bitcoin, is assumed to own about 980,000 Bitcoin. At the current time, this would equate to 20 billion USD.


A Planetary Bitcoin Revolution

Since 2009 a new invention, a peer-to-peer decentralized secure payment and monetary system, bitcoin, has demonstrated quite powerful how a future planetary economic and financial system could look like [8]. Indeed, as many observers have noted, the most difficult part in using bitcoin is actually the “legacy system” of our established old banking and financial industry.

It might seem logical that on a new planetary settlement a payment and value transfer/storage system such as bitcoin would be useful first and foremost. It is very unlikely that the first Martian settlers will start printing paper but it stands to reason that they will need a way to track ownership pretty quickly. In fact, a scarce cryptocurrency would allow the developing Martian economy to operate freely yet prioritize allocating resources towards real needs while ensuring that the early stake-holders, risk-takers and most experienced colonists benefit the most.

However, due to the nature of interplanetary communication, Mars is too far from Earth to allow it to participate in the bitcoin network on Earth. The time it would take for a payment on Mars to be confirmed by the blockchain on Earth would be too impractical. Therefore the Mars colony would start their own cryptocurrency [9].


The Solution: Marscoin

If, however, we were to start that cryptocurrency here on Earth, ahead of time, and donate an initial stack of Marscoins to the efforts of the Mars Society, one of the largest international space advocacy organizations [11] with the goal of kickstarting Mars colonization through non-profit activities and research projects, volunteer work and funding of space related activities, we could start mining and using Marscoins alongside other cryptocurrencies until the first colony 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 sound monetary alternative to Bitcoin [12] would grow in purchasing power and thus quite naturally be able to fund developments directed to the establishment of a first Mars colony (directly or indirectly). Just by utilizing and acquiring Marscoin, private individuals would participate in the biggest Kickstarter project of all time, supporting space outreach efforts while enabling mankind’s first colony on another planet. Just by adopting Marscoin, the first extra-terrestrial colony in the Solar System could be bootstrapped or at the very 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 step among the stars.


Marscoin on Mars – Future of Prosperity & Progress

In addition, everyone who downloads the Marscoin client initially and starts mining and using it and thus supporting the endeavor will have a stake in any future growth of a Martian economy (or Earth-side adaptation) in correlation to his early level of involvement – with the privacy and anonymity of cryptocurrencies this participation can easily be transferred to future generations on Mars: Once the first SpaceX rocket heads towards Mars, a copy of the blockchain could be transferred to Mars by some volunteering Martian colonist and setup as the first mining node on Mars. The deflationary “cap” on the number of issued coins and thus 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 value of Marscoin prior to moving to Mars and thus increasing the funding available to the early non-profit organizations and thus the speed with which the colony can be made a reality.

On Mars, early colonists will continue to mine Marscoin. Because Marscoin is derived from Litecoin, its frequent confirmations (2.5 minutes) and script hashing algorithm will make it convenient and secure. There will be no need for expensive and costly mining machinery to keep the network running. Also, proposals exist that could add extra layers of security on Marscoin to prevent possible Earth-side interference with the blockchain on Mars (due to the distance there, it is relatively easy to protect Marscoin from Earth). Eventually, 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 high amount of risk – it’s a labor of love and a global experiment in distributed collaboration for space colonization. Take a look for our roadmap and design ideas as well. We believe that network effects make it nearly impossible for other coins beside Bitcoin to become global reserve currency networks but are very serious in our efforts to make Marscoin the first cryptocurrency network on Mars.

 


The Marscoin Blockchain

Our design philosophy observes the Blockchain revolution as it unfolds and picks the most successful features and applies them carefully to enhance the future backbone of a Martian crypto-asset based industry.

 

Fast

2 minute blockchain confirmations

Limited

48 Million hard limit. Austrian economics that benefit the savers and risk takers.

Open Source

Marscoin is open source and maintained by the Marscoin Foundation

PoW

Script Hash (for now). Advanced features of Bitcoin/Litecoin/Dash.

Multiplatform

Online and offline wallets. Linux, Mac, Windows Android. Mobile and Desktop available.

Longevity

Marscoin was born on the 1.1.2014 – It’s one of the oldest altcoins with a huge following.



Recommended Reading:

  • The Case for Mars: The Plan to Settle the Red Planet and Why We Must

    The planet most like ours, it has still been thought impossible to reach, let alone explore and inhabit. But all that changed when leading space exploration authority Robert Zubrin crafted a daring new blueprint, Mars Direct. When it was first published in 1996, The Case for Mars became an instant classic, lauded widely for its game-changing perspective by those who would see the American space program rise to the challenge of Mars; Carl Sagan called Zubrin the man who, “nearly alone, changed our thinking on this issue.” Now, fifteen years later, Zubrin brings readers up to date in this revised and updated anniversary edition filled with spectacular illustrations, extraordinary photographs, and one-of-a-kind anecdotes. Amazon


  • Martian Outpost: The Challenges of Establishing a Human Settlement on Mars

    Mars Outpost provides a detailed insight into the various technologies, mission architectures, medical requirements, and training needed to send humans to Mars. It focuses on mission objectives and benefits, and the risks and complexities that are compounded when linked to an overall planet exploration program involving several expeditions and setting up a permanent presence on the surface. Amazon


  • The Case for Space: How the Revolution in Spaceflight Opens Up a Future of Limitless Possibility

    A noted space expert explains the current revolution in spaceflight, where it leads, and why we need it.A new space race has begun. But the rivals in this case are not superpowers but competing entrepreneurs. These daring pioneers are creating a revolution in spaceflight that promises to transform the near future. Astronautical engineer Robert Zubrin spells out the potential of these new developments in an engrossing narrative that is visionary yet grounded by a deep understanding of the practical challenges.Fueled by the combined expertise of the old aerospace industry and the talents of Silicon Valley entrepreneurs, spaceflight is becoming cheaper. The new generation of space explorers has already achieved a major breakthrough by creating reusable rockets. Zubrin foresees more rapid innovation, including global travel from any point on Earth to another in an hour or less; orbital hotels; moon bases with incredible space observatories; human settlements on Mars, the asteroids, and the moons of the outer planets; and then, breaking all limits, pushing onward to the stars.Zubrin shows how projects that sound like science fiction can actually become reality. But beyond the how, he makes an even more compelling case for why we need to do this–to increase our knowledge of the universe, to make unforeseen discoveries on new frontiers, to harness the natural resources of other planets, to safeguard Earth from stray asteroids, to ensure the future of humanity by expanding beyond its home base, and to protect us from being catastrophically set against each other by the false belief that there isn’t enough for all.. Amazon


  • The Bitcoin Standard: The Decentralized Alternative to Central Banking

    While Bitcoin is a new invention of the digital age, the problem it purports to solve is as old as human society itself: transferring value across time and space. Ammous takes the reader on an engaging journey through the history of technologies performing the functions of money, from primitive systems of trading limestones and seashells, to metals, coins, the gold standard, and modern government debt. Compellingly, Ammous shows that it is no coincidence that the loftiest achievements of humanity have come in societies enjoying the benefits of sound monetary regimes, nor is it coincidental that monetary collapse has usually accompanied civilizational collapse. Amazon


Footnotes:

  • [1] Mars Direct on Wikipedia [link] Zubrin, Robert; Richard Wagner, Arthur C. Clarke (Foreword) (November, 2011). The Case for Mars (1st Touchstone Ed edition ed.). Free Press;. p. 51. ISBN 0684835509. [link]
  • [2] Founding Declaration of the Mars Society [link]
  • [3] NASA increases impact risk [link], also Elon Musk on avoiding extinction event [link] – “becoming multiplanetary or going extinct [link]
  • [4] The Promise of Mars [link]
  • [5] [link], SpaceX plans for Mars: [link] and [link]
  • [6] Bas Lansdorp [link], Mars One mission plan [link]
  • [7] Mars One [link]
  • [8] Reddit [link]
  • [9] Bitexchange [link], Bitcoin economy [link]
  • [10] Blue Origin [link]
  • [11] The Mars Society [link]
  • [12] The Bitcoin Standard [link]