Elon Musk believes future Mars economy is going to be based on cryptocurrencies

SpaceX founder Elon Musk has said that any future economy on Mars could be cryptocurrency-based. While responding to a Twitter thre started by AI researcher Lex Fridman, Musk agreed Martian economy "will run on crypto”. He also suggested that it could be with novelty cryptocurrency dogecoin or fringe cryptocurrency “Marscoin”. 

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According to Independent, Marscoin project was founded in 2014 and saw a brief surge in popularity during cryptocurrency market bull run in late 2017. While Marscoin drifted into obscurity, altcoin, on or hand, currently has a market cap of less than $100,000. Dogecoin could also be a more likely candidate, given it continues to be relatively popular and even shares many of same decentralised attributes as bitcoin. 

Earlier, price of dogecoin h also surged more than a third after Musk changed his Twitter bio to “former CEO of Dogecoin”. Meanwhile, SpaceX founder has repeatedly spoken about his ambition to travel to Mars in his lifetime. He has also ordered his employees to accelerate development of next-generation Starship rocket. 

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SpaceX Mars Mission

Musk’s dream project, SpaceX Mars Mission, is expected to launch people to red planet from 2024. In a recent interview, Musk h said that he was planning to complete manned Mars mission within 2026. SpaceX is working to finalise protos and y have alrey prepared ir latest proto called SN8 or Serial No. 8. 

scientists are going to check how this proto performs. SpaceX is aiming to launch SN8 at speed of 15 km, which is much higher than speed used by any rocket to date. previous three engine protos named Star hopper, SN5, SN6 attained a minimum altitude of 500 during test flight. test flights were conducted in past year. Elon Musk wants to use his SpaceX mission to help humanity and also plans to create a "Colony of Humans" on Mars.

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