When somebody buys it, you get your exchange rate.
And given its founder's ego issues, the unit of currency will be the Elon.Ĭonversion between Elons and regular (fast) money: you use it to acquire title to a chunk of land on Mars, then put it on the real estate market. The proof of work doesn't inflate over time, either-it remains constant, and is ridiculously hard to forge (the only reasonable mechanism would be to figure out how to derive the one time pad from the published checksum, which should be impossible). It's not inherently deflationary like Bitcoin, because the Martian Central Bank can if necessary generate a new one time pad and add its checksum to the blockchain, expanding the money supply. Unlike Bitcoin there's a central bank and an anti-forgery mechanism. It has a floating terrestrial exchange rate: the idea is that it's used for mediating interplanetary exchanges. MuskCoin is required in payment for cargo capacity on Earth-to-Mars shipping, or for purchasing real estate on Mars. The publicly issued checksum of MuskBank's OTP is itself published via the Blockchain. The blockchain is then updated-from Mars. However, the proof-of-work in generating a MuskCoin is non-algorithmic: you transmit a digital certificate for your shiny new coin to MuskBank on Mars, where it is countersigned with a string from MuskBank's One Time Pad, which was generated on and only exists on Mars. On Earth it would function as a cryptocurrency backed by the Mars colony. In terms of "Neptune's Brood", MuskCoin might be a plausible implementation of Medium Money. What are the opportunities for Musk's colony to implement its own cryptocurrency? Some of you have read Neptune's Brood, right? Shortlisted for the 2014 Hugo award, and, ahem, currently on offer for $4.99 as an ebook (North American edition only, sorry British folks). As Tesla is currently ridiculously over-valued this therefore looks like a smart way of hedging against some of their risk. I personally think this is a stunt, but an interesting one: BtC is a commodity in a bubble if it goes up, Tesla turns a profit, and if it goes down it's a tax write-off. Which brings me onto the topic of Elon Musk (okay, Tesla) recently buying $1.5Bn of BitCoins. So, a few weeks ago I was chewing over COVID19 on Mars (insert any other pandemic here), a discussion of how a Musk-initiated Mars colony circa 2070 might handle an aggressive viral pandemic.
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