Genesis Mining made both financial and bitcoin history recently by sending a 3D model of a bitcoin with a paper wallet 34 kilometers into space, then sending 1 BTC to the wallet from Planet Earth, completing the first-ever peer-to-peer financial transaction in space.
A youtube video recorded the 34-kilometer space journey, along with the transaction being made on a laptop screen back on Planet Earth. The viewer is able to see vast views of the earth from a vantage point as it moves through space. The journey took place in the United Kingdom.
‘To The Moon’ Once Again!
The space transaction symbolizes the cryptocurrency’s one time “to the moon!” mantra when the cryptocurrency was posting exponential growth, according to Marco Streng, CEO and co-founder of Genesis Mining.
“We thought that the value would continue climbing until it reached the moon,” Streng told Hacked.
As a community, we’ve all seen bitcoin increase in value, and we wanted to do our part to demonstrate that there’s no limit to how far bitcoin and cryptocurrency can go. By sending it to space, we wanted to garner the attention of the public to help drive awareness for bitcoin and the growing number of cryptocurrencies on the market.
Advice From Visionaries
Accompanying the video are some quotes, both audio and in inserted text, from visionaries such as Bill Gates and Sir Richard Branson. One quote reads: “The technical answer in bitcoin is that bitcoin is a remarkable cryptographic achievement, and the ability to create something which is not duplicable in the digital world has enormous value.”
The 3D model bitcoin prepares for its space launch.
The video was taken by a GoPro camera inside a styrofoam insulated box to protect it from the extreme cold. The camera and the box it was housed in was hung from a large meteorological weather balloon that ascended to just over 34 kilometers. A paper BTC wallet was attached to the back of the 3D-bitcoin with duct tape.
The video shows the BTC transaction being sent from a smartphone alongside a desktop screen displaying the wallet accepting the transaction. The Genesis Mining team can be briefly seen and heard applauding.
Also read: ConnectX will take your BTC wallet into space
Reaching New Heights
“Since we believe in reaching new heights at Genesis we didn’t stop there,” the mining team noted on its blog. “When the bitcoin made it to 34 kilometers, our space partners let us know that it was at peak altitude, so we sent another bitcoin, beating our initial record on the same flight!”
“As cryptocurrencies grow in popularity it’s important to remember that they are the most secure form of currency out there, and by demonstrating how this transaction can be seen on the blockchain, we make it clear that no matter how far bitcoin goes, it’s always secure,” Streng said.
Erik Laan, founder of Eye on Orbit, a company devoted to bringing space exploration and commerce to society, applauded the transaction. Laan has also been raising money for the Bitcoin Space Education Fund. He noted that space and the cryptocurrency make a great combination.
Images from Genesis Mining.