In an appearance on a famous podcast (video Below) with Lex Friedman, Elon Musk explained why Dogecoin cannot be the official currency of Mars.
In public speaking about the meme currency Doge, Elon Musk often refers to Dogecoin as his favorite currency in the crypto market.
As a fan of Dogecoin, On December 14th, After Declaring Doge Better Payment Method Than BTC, Elon Musk Confirmed Tesla Will Accept Dogecoin For Merchandise
Elon Musk explains why Dogecoin will not be the official currency of Mars
Excited about arriving on Mars in the next few years, Elon Musk always talks about it whenever he can. CEO of SpaceX is one of the space entrepreneurs looking to reach Mars, with the dream of colonizing the place.
On past occasions, Musk has even said that it is better if more people are born on Earth, as many will migrate to Mars. In a podcast with Lex Friedman, the richest man in the world revealed his thoughts on the future of the fourth planet of our Solar system at an average distance of about 228 million km (142 million miles) or 1.52 AU.
In his opinion, when Mars is colonized, it will belong to those people who will inhabit there. Martian laws and civilizations will not be subject to rules present in countries on Earth.
Another point discussed was about the local currency of Mars. When Friedman asked Elon that he has recently said that SpaceX will take Doge to Mars, so are there any plans in making Doge the Official currency of Mars.
In response, surprising fans of the doge, Elon Musk revealed that it’s impossible for Dogecoin to be the coin of Mars.
“Well I think Mars itself will need to have a different currency because you can’t synchronize due to the speed of light”
Q: So it will be a complete standalone from the earth?
Elon: “Well yeah because, Mars at closest approach, its four lights minutes away roughly and then at furthest approach, its roughly 20 light minutes away, or maybe a little more, so you can’t really have something synchronizing, you know if you could, if you have got a 20-minute speed light issue, if it’s got a one-minute blockchain, it is not going to synchronize properly.
Billionaire believes that Mars will have a cryptocurrency.
Although Elon Musk doesn’t believe it’s possible to synchronize the Dogecoin network from Mars, he does believe that the new planet to be colonized will have a cryptocurrency in the future.
Asked about the future on the planet, he informed that he will not decide alone, but with the population that will live there.
“I don’t know if mars will have a cryptocurrency, but it probably will, and it will be some kind of localized thing on Mars. I think cryptocurrencies are an interesting approach to reducing errors in the database called money.”
Watch Video:
49:52 – Dogecoin
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