Elon Musk endorses the use of cryptocurrencies on Mars

Charlie Taylor

Elon Musk said earlier this month that he is "highly confident" that his Spacex company will land humans on Mars "six years from now". He previously stated that his goal is to establish a "self-sustaining city on Mars as soon as possible". Now, Musk suggested on his Twitter that cryptocurrencies could be used on the red planet.
SpaceX said in October that it will not recognize any international law on Mars. The terms of service for their Internet project Starlink state: “For services provided on Mars, or in transit to Mars via a starship or other colonization spacecraft, the parties recognize the red planet as a free place and that no government based on Earth has authority or sovereignty over Martian activities. Consequently, disputes will be resolved through principles of self-government, established in good faith, at the time of the Martian agreement. ”
The subject of the Martian monetary economy appeared briefly on Twitter last week. AI researcher Lex Fridman tweeted, "The Mars economy will work with cryptocurrencies." In response, Elon’s World’s Twitter suggested, “Marscoin”. Musk himself answered only with a "Yes".
It is not clear whether Musk was referring to the cryptocurrency called “marscoin” that was launched in 2014 or if he was just talking about a future project with the same name. Coinext 760x150

The existing project was launched with the aim of becoming a Martian currency, according to the project page. Its code was a fork of Litecoin, originally traded on the Nova Exchange. However, after peaking during the 2017 initial coin offerings (ICO) bubble, its price dropped dramatically and it was removed from the Nova list shortly thereafter.
Musk also recently spoke about two other substantially more popular cryptocurrencies: bitcoin and dogecoin. Last week, he considered the idea of ​​his company Tesla putting billions of dollars in BTC, as suggested by the CEO of Microstrategy, listed on Nasdaq, which now has about 70,470 BTC in its treasure.
Musk asked, "Are these big deals really possible?" He has also tweeted about dogecoin several times over the years. Until very recently, his Twitter profile showed: “Former CEO of Dogecoin”, a joke because the currency is decentralized and does not have a director.
Read more: “Tether is not the SEC's next target”, says Bitfinex CTO

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