back to article PayPal and SETI aim to go galactic with off-planet currency system

When PayPal launched 15 years ago it billed itself as the world's first global currency. Now the company is looking to kick-start a conversation into how to become the payment platform for the solar system with PayPal Galactic. "The time is right today because of all of the interest and movement and money and private/public …

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Happy

re. Buzz Aldrin video

I've never seen such a fine example of 'asking for it'.

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Pint

Re: re. Buzz Aldrin video

Oh yes, a beer for Mr Aldrin I think!

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Re: re. Buzz Aldrin video

ah, the monkey logic....

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Thumb Up

Re: re. Buzz Aldrin video

Buzz should have kicked him in the jewels for good measure!

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Galactic currency...

Why assume it has to be an existing earth currency, and not just join in with the federal credits system instead?

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Alien

Obligatory Hitchhikers ref

In fact there are three freely convertible currencies in the Galaxy, but none of them count. The Altarian Dollar has recently collapsed, the Flainian Pobble Bead is only exchangeable for other Flainian Pobble Beads, and the Triganic Pu has its own very special problems. It exchange rate of eight Ningis to one Pu is simple enough, but since Ningi is a triangular rubber coin six thousand eight hundred miles along each side, no one has ever collected enough to own one Pu. Nigis are not negotiable currency, because Galactibanks refuse to deal in fiddling small change. From this basic premise it is very simple to prove that the Galactibanks are also the product of a deranged imagination.

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Pint

Money is a sign of poverty

As the late, great Iain Banks wrote.

<-- Should be a dram.

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Devil

Never, in the field of corporate PR, ...

...was so much nonsense put out by so few, in a desperate bid for publicity on a slow news day.

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Happy

Dark side of the Moon

A fantastic idea, send all the bankers etc. to the Moon. Preferably without spacesuits.

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Anonymous Coward

Alien abduction: we are the currency.

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Alien

Tax evasion??

Surely there needs to be a bank IN space before that can even be considered a risk!

what do they think Google will launch a space mission, just to say all sales take place on Uranus?

Seriously I don't see an issue, whichever country launches a station, will use either their own currency, OR the Dollar/Pound/Euro or bit-coins even!

And if your actually based outside the earths atmosphere, the tax man has no claim on your money, the same as if you reside on a ship for more than 9 months of the year.

But then again maybe we'll leave our planet and suddenly the intergalactic tax collectors will appear and claim back taxes for all the years earth has failed to pay its solar system tax....

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Linux

"When PayPal launched 15 years ago it billed itself as the world's first global currency. " -- Paypal is not a currency.

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Alien

People of Earth, your attention please....

Paypal have just blocked our account after one of our transactions was queried.

Our invasion fleet will be arriving from hyperspace shortly....

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Joke

Re: People of Earth, your attention please....

"...to be swallowed by a yawning dog!"

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Coat

Conspiracy

I suspect there are people who doubt he actually "landed" that punch.

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Coat

Payment to Mars please

If I make a payment to my subsidiary on Mars using Paypal, I assume that PayPal will have to make the actual delivery of currency, since no other bank works outside the Earth. I wonder how much they will charge to deliver a bag of 100 pound coins?

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FAIL

So..... there are still many places on the planet where internet coverage is non existent (and hence Paypal cannot be used) I'm really not sure how well this idea will work - if we have banking in space it should be from a bank in space, it should not be a bank situated on a planet - imagine how frustrated we all get with a 3 day "clearance" period - and then imagine the clearance window in space! TCP/IP which is what I would assume Paypal intend to use since it hasn't made mention of designing a new lightweight space friendly networking stack - the latency on Galactic bank transfers will huge! It's essentially a round trip from your location to the Earth and back again. Assuming you were at a restaurant far far far away and it took 1.5 (earth) years for the signal to reach Earth - you would be sat waiting a minimum of 3 years to pay for your food...... and that is providing that the signal actually made it all the way to earth, earth's systems were running AND Paypal wasn't being flaky! It's called Single Point of Failure Paypal - you want to be an intergalactic bank - fine - but you have to be available OUTSIDE the earth to start with.

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Anonymous Coward

Many many years ago I seem to remember reading an RFC proposing an extention to the internet domain system to add a new "higher than top level" domain which would be used to identify which planet/moon/asteroid the server resided .... perhaps they needed to respond to this first. Sadly can't find any trace of it at the moment via google but seem to recall it being issued on Apr 1 (and probably by a user on kremvax)

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Headmaster

Just a quick nitpick...

As part of Apollo 17, Harrison Schmitt was the last person to arrive on the moon - Eugene Cernan got out of the LM first, but as they loaded in reverse order, Schmitt entered first, and Cernan followed, meaning that Cernan was the last person to walk on the moon.

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Anonymous Coward

Paypal as future galactic currency....

That sounds about right. Where else to have your money sucked into a vacuum, or your account locked into a black hole.... Anytime I spell check Paypal, Papal appears... I wonder if they share traits!

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Anonymous Coward

Re: Paypal as future galactic currency....

That must be the most tenuous attempt at an insult against catholics I've ever seen!?

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Boffin

So, the Quasi Universal Intergalactic Denomination never took off then..?

http://www.theregister.co.uk/2007/10/09/quid_space_currency/

...I should never have listened to that investor [sigh]...

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Facepalm

Goods

What would you buy? I mean really, even with Amazon Prime it isn't going to arrive in two days.

Maybe Virgin Galactic et al. are going to pursue a RyanAir model where they fuck you for every single thing once you're in orbit. I can hear the announcement now 'you have used all of your available atmosphere. Please confirm or decline a charge of 187.33 PayPal Galactic Credits for three minutes of additional atmosphere'.

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