Image Credit: The Verge

Jan 11, 2024

Elon Musk Explores Bitcoin Payments on Mars

By: Bhumi Shrivastava

Musk suggests Bitcoin's viability on Mars due to its proximity in light minutes.

Light-Minute Advantage

Image Credit: Britannica

Initial rejection based on slow transaction speeds prompts consideration of alternatives.

Transaction Speed Hurdles

Image Credit: The Conversation

Musk proposes a localized Lightning Network as a solution to Bitcoin's speed issues.

Lightning Network Proposal

Image Credit: WIRED

Blockstream CEO Adam Back backs the idea of Bitcoin on Mars, emphasizing its manageability.

Image Credit: U.Today

CEO Support

Glassnode data reveals the Bitcoin Lightning Network's impressive cost efficiency in April 2023.

Cost-Efficiency

Image Credit: BitPay

Lightning Network transactions are 1,000 times cheaper than Mastercard or Visa processors.

Competitive Edge

Image Credit: Clark Moody Bitcoin