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#1 2018-04-21 19:12:06

From: UK
Registered: 2008-03-24
Posts: 5,871

Why is a Mars currency important to the development of Mars?

I think there is a simple answer to this question:

Because every time you expand the Mars economy you create wealth that can be traded.

If Mars simply adopts the US dollar, let us say (it could be any Earth based currency but the US dollar is the most obvious choice), every time you create a bit of extra production on Mars, that doesn't immediately translate to increased monetary wealth on Mars.  That will depend much more on the vagaries of dollar trading. In fact if the dollar generally weakened against a range of currencies, say but 5%, and you grew your economy by only 3% in terms of output, you would find the real value of your economy had shrunk.

Another key factor is that economics is an art as much as a science. If people think Mars is a successful place that is great to invest in, it will become such a place.  It's what you might call the Dubai effect - given Dubai has virtually no resources.  You need to deploy a bit of PR razamatazz but having your own currency helps lock in investment . 

I feel that a Mars Currency makes huge sense and preferably it should be freely traded.  We can see that over $100 billion has been invested in Bitcoin...I think a Mars currency would be even more successful. It would put billions of Earth currency into the Mars economy which the Government could then use to purchase essentials from Earth.

Let's Go to Mars...Google on: Fast Track to Mars


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