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Bitcoin as an Interplanetary Monetary Standard with Proof-of-Transit Timestamping

★ ★ ★ ★ ☆

Paper Summary

Paperzilla title
Bitcoin on Mars: Can it work? (Spoiler: Maybe)

This paper proposes a way to use Bitcoin for payments between Earth and Mars, taking into account the long communication delays. It introduces "Proof-of-Transit Timestamping" (PoTT) to track Bitcoin transactions between planets and suggests using existing technologies like the Lightning Network and sidechains to make payments faster and more efficient.

Explain Like I'm Five

Imagine sending a Bitcoin payment to someone on Mars. This paper proposes a way to make sure that payment arrives safely and on time, even with the long communication delays.

Possible Conflicts of Interest

None identified

Identified Limitations

Theoretical Proposal
This paper presents a conceptual architecture and lacks real-world implementation or testing. The feasibility of the proposed system needs further validation.
Dependence on Interplanetary Communication Infrastructure
The proposed system relies on the development of robust and reliable interplanetary communication networks, which are currently in their early stages.
Security Assumptions
The security analysis relies on certain assumptions regarding the availability and integrity of time beacons and the honesty of relay nodes. The impact of deviations from these assumptions needs further investigation.

Rating Explanation

This paper presents a novel and well-thought-out approach to address a challenging problem. While it remains theoretical, it provides a valuable framework for future development in interplanetary finance. The rating is slightly lowered due to the lack of real-world testing and the reliance on certain security assumptions.

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File Information

Original Title: Bitcoin as an Interplanetary Monetary Standard with Proof-of-Transit Timestamping
Uploaded: September 11, 2025 at 12:17 PM
Privacy: Public