**Why I believe Marscoin is a solid long term investment.**
I am not a financial advisor. This is not financial advice.
I apologize for possibly over explaining some things. This touches a few different subjects that people may or may not have background on so I will assume little to no knowledge on most of these topics.
**Marscoin status as of 3/1**
Circulating Supply: 28,279,074 MARS
**Background of this coin**
Much of the background can be found at [https://www.marscoin.org/about/](https://www.marscoin.org/about/) but I’ll summarize. Marscoin was created in 2014 for the purpose of creating the foundation of a financial system for a future civilization on Mars. It will be used as a currency and as a foundation for future crypto applications on the red planet. To get this blockchain ready for use on Mars it is massively beneficial to get acceptance from people on earth before we ever set foot on red soil. Part of building marscoin as a financial asset is its use to help fund projects on earth that are working toward the goal of reaching Mars. The underlying technology is based on litecoin and as litecoin was viewd as the most advantageous blockchain for a Martian economy. Marscoin aims to be the bitcoin of mars. You can read the entire whitepaper here [https://www.marscoin.org/whitepaper/MARSCOIN-TRUSTLESS-LEDGER-TECHNOLOGY-IMPLICATIONS-FOR-A-MARTIAN-SOCIETY.pdf](https://www.marscoin.org/whitepaper/MARSCOIN-TRUSTLESS-LEDGER-TECHNOLOGY-IMPLICATIONS-FOR-A-MARTIAN-SOCIETY.pdf)
The Mars Society is a nonprofit organization founded in 1998 promoting the exploration and settlement of Mars with over 5000 members and an additional 6000 associate supporters in over 50 countries. Marscoin is not officially associated with the Mars Society but many of the founders of the coin are Mars Society members. They were officially invited to speak at mars society conventions in 2014 and 2017. Mars Society also holds a large amount of the coins. Somewhere upwards of $1M worth of coins has been donated to the Mars Society so if they have been holding they would probably be the biggest whale. This general unofficial acceptance gives me a strong conviction that it will be the currency of choice on the red planet. This is not 100% guaranteed but in my personal opinion this is the only conceivable outcome.
You can’t talk about mars without mentioning elon musk. Elon Musk the CEO of spacex held a virtual presentation with the Mars Society discussing their Mars plans. Although SpaceX and Mars Society do not see eye to eye on everything, their end goals are very much aligned and they mostly work cooperatively to achieve them. SpaceX has made significant progress on their starship program with the ultimate goal of reaching Mars. These next actions by Elon are to be taken with several handfuls of salt as what he says on twitter is often not to be taken seriously even though many people will. Lately Elon has been interested in cryptocurrency and while in the past he has mostly ridiculed and made jokes about it, he seems to be taking it more seriously. His other company Tesla has invested 1.5 billion dollars into bitcoin and that announcement I believe is partially responsible for the price increase of bitcoin. Elon often champions dogecoin and every time he tweets about it the price goes up. In a recent tweet to the Binance CEO Changpeng Zhao, Elon says ‘There will definitely be a Marscoin’. At the time many were unaware of the existence of Marscoin but they have investigated it because of this tweet. This one tweet caused the price of the coin to temporarily skyrocket. Everything Elon touches turns to gold lately and all it would take is an official endorsement from spacex to make this coin moon(mars?).
Even without this endorsement if you believe that humans will reach mars then this coin should hold long term value for you. If you want to support Mars exploration and settlement of Mars then invest in Marscoin. The foundation is solid.
One part that many overlooked from that tweet exchange is that it has gotten the attention of the CEO of Binance as well. Binance is a large and popular exchange and if Binance started trading this coin this would certainly gain exposure.
**Intersection of Markets (investing mumbo jumbo)**
If you dabble in the stock market or investing in general then you have probably heard of Cathie Wood and ARK Invest. To sum it up ARK has several investment funds that anyone can buy into which specialize in innovative and disruptive technologies. Their next fund that is likely to be available later this month is ARKX centered around space exploration tech. Cryptocurrency is also at the forefront of their investing strategies as a disruptive technology of finance and next gen internet. A major component of the investing philosophy is that as each technology grows, they will start to converge with each other. Where any of these technologies overlap there will be exponentially more growth in innovation (and presumably financial value). ARK’s biggest investment is in Tesla. Tesla is overlapping with several technologies including robotics, AI, renewable energy, battery storage, and now even bitcoin. Even if you ignore this link between Tesla and SpaceX to Marscoin you can see that Marscoin overlaps at least the 2 sectors of space exploration and cryptocurrency.
There will be some point in the future where the major network nodes will migrate to Mars itself. From there one of 2 things will happen. Either there will be a major split and the will be a marscoin(earth) and a marscoin(mars) or transactions with Marscoin from earth will be very slow. Most probably both will happen where the network on earth will be fast for people on earth and the mars network will still be accessible from earth just very slow. I actually see this as a benefit because anyone holding presplit will essentially have their assets doubled just like any big network fork.
**LONG TERM HODL/DIAMOND HANDS!!!ONE!!!**
I do not see this as a short term investment and I would strongly recommend against using this as a get rich quick scheme. This may spike again if it gets attention from Elon or SpaceX or Binance but we have to assume that it won’t happen any time soon or even officially. With the progress of SpaceX and the success of the perseverance rover things are looking great. I view this as a long term investment only or as a donation to Mars exploration that may pay off someday. Hell this may not be useful until some day in the far future where my descendants on Mars stumble across my old wallet. I just like this coin. I have bought some and started mining it as well.
**Not to be confused with**
There are a few other coins out there that use the MARS ticker or could be confused with this coin.
This is an interesting asset but is not associated with space exploration. It does often get shortened to MARS so it can easily get confused
*Marsan Exchange Token*
**How to Mine**
This is a good quickstart guide. I had a UI bug with pool.marscoin.org where the workers did not show in the UI after they were created but they still worked and I can see the results on the dashboard.
**Where to Buy**
This is the easiest place to buy marscoin. You can use a credit card to buy bitcoin or tether and exchange that for marscoin.
Finexbox has a UI that is harder to use and you can’t buy with a credit card but the prices are much better and this is personally what I use.
You can download the marscoin wallet from [https://www.marscoin.org/](https://www.marscoin.org/) I was not able to get it to work but this is probably a technical problem on my end. They do offer a cloud wallet and this is one of the few coins where I would recommend using that over the local wallet.
**They have a subreddit**
Join us over at r/marscoin
I haven’t been on it for very long but it has lately received a resurgence of activity.
Please make smart financial decisions for yourself. I am not a financial advisor. I am a software developer and this started out as a shower thoughts idea that turned out to be really good the more I researched it.
***Tldr; If you want people to go to Mars then buy Marscoin /tldr;***