It’s already a difficult enough project for humans to set foot on mars, let alone establish commerce there. In order to establish a successful economy on Mars, we need a currency that’s easily transferable, fast, and secure.
It’s only a matter of time until inflation takes hold of the Red Planet and humans are buying $250 bags of chips at the Wal-Mart on the Eastern end of the Elysium Planitia. The only question is, what type of money would martians use to get ripped off on another predictable Tyler Perry Movie at the AMC theater that just opened up near the northern cusp of Gale Crater?
Gradually Barter, Then Suddenly Bitcoin
A barter system could potentially be used during the early stages of colonization on Mars, especially since the planet has no native currency. Bartering involves trading goods or services directly, without the use of money. This would be a practical way to exchange goods and services in a small and tight-knit community of early colonizers on the Red Planet.
However, it’s important to note that a barter system can have limitations. A barter system can be more complex and time-consuming compared to a standard monetary system, which could make it less practical as the Martian economy grows and becomes more complex.
While a barter system could potentially be used in the early stages of colonization on Mars, it probably will not be a long-term solution for a functioning economy. As the Martian colony grows and develops, it’s likely that a more sophisticated monetary system will need to be established to facilitate commerce and economic growth.
Bitcoin, The Solar System’s Reserve Currency
It’s possible that the U.S. Dollar (planet Earth’s reserve currency) could be used on Mars. However, this would require significant adjustments to account for the differences in value and exchange rates between Earth and Mars.
Additionally, because to inflation and the high cost of securing and transporting physical cash, It’s plausible that $1 on Earth could be worth anywhere from $100 to $1,000 on Mars once commerce is fully established
Bitcoin would be an extremely viable option, as it can be easily transferred and stored digitally. Of course, this would require technological infrastructure on Mars to support the use of Bitcoin which may not be available in the early stages of colonization.
Furthermore, can you imagine a desolate planet being filled further with 14-foot ethernet cables, 6-foot power cords, and romantically entangled phone chargers? Everything humans bring to Mars will most likely be cordless, easily integrated, and technologically sound.
That also includes the money.
Whenever an internet connection is established on Mars, Bitcoin can potentially serve as its reserve currency. The transportability of Bitcoin definitely makes it more efficient and less risky compared to physical cash. It’s our only real option for interplanetary commerce. Whenever all this happens, there’s definitely going to be a high demand for holographic charizards on mars, for sure.
Bitcoin Versus 
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