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With current technology, it would take around a thousand years to terraform Mars. So obviously, technology will have to develop quite a bit before it is seriously considered. That will be (most likely) centuries away. The reasons for doing it would be to provide another place for people to live in order to avoid overcrowding the earth. If it can be done on Mars, it would mean that we would be able to do it on the planets of other solar systems and would have an endless supply of planets to settle.

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