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Bitcoin on Mars will power a galactic economy, says Dhruv Bansal

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Bitcoin on Mars? seems surreal, doesn’t it! Keiser Report’s latest episode featured the famous ‘Karl Sagan of Bitcoin,’ aka Dhruv Bansal. He commented on how bitcoin will support the economy not only on planet Earth but also on Mars. He mentioned how the cryptocurrency has the potential to bring about change on other rocks in our solar system.

Founder of Unchained Capital and a physicist, Bansal specializes in disbursing loans to crypto holders. On the show with host Max Keiser, he added that a pan-Earth Bitcoin network is akin to a ‘hungry entity’ that is forever looking to expand and search new avenues for growth. He presents a notion that Bitcoin will be present many hundreds of years from now when humans have colonized other planets. However, before it moves to outer space, it must grow well here first.

Bitcoin on Mars is very much possible

Bitcoin is reactive. That makes it alive, says Bansal. Bitcoin’s homeostasis properties mean that it responds to the actions of millions of people who currently use it. In a sense, it sensory and responds to society. Whether alive or not, it is certainly very much a part of our society. Considering this, Bitcoin on Mars isn’t a far-fetched possibility.

This reactive property will certainly push innovation in many fields. For example, it can give birth to intelligent robots who learn on their own. Or it can contribute to greener technologies. It can unlock energy potential in remote parts of the world where energy scarcity is holding back growth for centuries.

Energy, no matter where in the world, can be converted into Bitcoin, which in turn could help propel a region’s economy. Unlike fiat, bitcoin has a direct relation with energy. Additionally, Bitcoin mining helps us go green as we explore ever more energy-efficient ways to mine. There is a lot of room to develop renewable energy and increase the efficiency of the current systems. Bitcoin is promoting such initiatives.

The debate also focused on how Bitcoin is very much like an organism. In the future, this organism will expand to other planets through such judicious use of energy harvesting. In many ways, it will set society on a better course that will reset the humanity as well. Though far-fetched, this ‘Bitcoin on Mars’ debate sparked many interesting yet unexplored facets of the Bitcoin realm.

Image Source: Pixabay

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Gurpreet Thind

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

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