Cap 26, 00 / Dec 27, 16 14:58 UTC

Re: Could Bitcoin be our official currency?  

A cryptocurrency for Asgardia has been in development

Cap 27, 00 / Dec 28, 16 06:15 UTC

@Justus Harmer sourse?

Cap 29, 00 / Dec 30, 16 21:25 UTC

If there was a vote on the proposed topic instead of voting to choose a flag, my vote would be NO, bitcoin is not for Asgardia, nor the Dollar, nor any other currency. We must have our own currency or have none.

Aqu 14, 01 / Jan 14, 17 00:05 UTC

I definitely think we should have our own currency. Whether or not we should have it digital is another thing. Could we also have the currency on the stock market so the strength and value of our money will be stronger perhaps against another currency. I am sure we will get somewhere.
I believe we should have our own currency, not bitcoin but something like that in both digital and physical forms. Let's keep it simple and compatible with earth too.

Aqu 17, 01 / Jan 17, 17 21:35 UTC

Hi to all those interested in creating their own cryptocurrency I have been promoting the collaboration by github of a project for its realization and to be able to collaborate for its execution for now I put the name of asgarcoin those who want to collaborate please enter the group of github

Https://github.com/orgs/Asgardcoin/dashboard Here is the website and I think it is the best open source tool available (with this program created monero) so well privacy guaranteed https://cryptonote.org/

Here are the instructions by cryptonote and in the repositories of github are also the codes to start creating the cryptocurrency

https://cryptonotestarter.org/inner.html

The name I want and by consensus call this cryptocurrency its asgardcoin

  Last edited by:  Asgardian 74551  on Aqu 17, 01 / Jan 17, 17 21:41 UTC, edited 2 times in total.

Aqu 20, 01 / Jan 20, 17 04:57 UTC

I agree using blockchain technology to build a new currency but I do not agree using bitcoin as offical, I will list my reason below.

Bitcoin is 'old' and a lot of nonasgardian have access to it, which is not a good thing. Since a lot of non-asgardian have access to it, it will be so hard for asgardia to dominate the market. And if we don't, there will be a possibility that someone would sell all their bitcoin in a very very cheap price to make bitcoin worth nothing. Which would destroy our economy from the bases.

Also bitcoin have a possibility not to be recognize by countries. Nowadays, bitcoin is being mined by a lot of countries. For example China, US, Russia, etc... But we should always remember one thing. Due to bitcoin is hard to trace, it is mostly use by blackmarket. And a lot of countries do not accept bitcoin or set them as illegal. Which we can still use bitcoin online but there's remain a possibility that some other countries set bitcoin as illegal currency, if that happens the market will have a huge volatility. Which is bad for official currency.

Aqu 20, 01 / Jan 20, 17 06:30 UTC

I think it's early to think about a currency. Main to the fact that our technology is developing so fast, in few decades we may have so much technological unemployment that currencies would be obsolete... just maybe.

Instead it would be good to set a variable quantity of credits to use monthly, mainly based on some algorithm that take in account various factors of the economy, so we know how much we can consume as asgardians each month (or week or whatever) remaining in equilibrium with the resources available.

What do you think about this idea?

Aqu 21, 01 / Jan 21, 17 19:01 UTC

The cryptocoins can be used as a kind of mining resource like gold or silver, but in the future we will need real money really recognized by the international community.

Aqu 22, 01 / Jan 22, 17 12:57 UTC

I must agree that it's very early to think about currency, especially since we don't have an economy. Let us trade in dollar, euros, gold, silver, bitcoins and whatever, until Asgardia is able to support and economy of some stability.

Aqu 22, 01 / Jan 22, 17 16:56 UTC

It is a fact that we will need some sort of currency for asgardia. There sre a few way to go about doing this. Each has its ups and downs which need to be detailed and then put to a vote.

I personally see a big risk with using any of the crypto currencies as they are done these days. They have a too big benefit for early addopters. If you get them early and they get popular, the ones that had many at first will gain too much power from that.

Also crypto currencies have a have a set supply of "coins". Which makes them vulnerable to hoarding.

A state currency needs stability. Which is something that crypto currencies in their current ways cannot provide.

Pis 07, 01 / Feb 4, 17 23:18 UTC

There ought be no official currency, but if there must be then Bitcoin or another crypto-currency would be the way. So long as you do not mandate one currency over another but let all currencies compete instead, there will be no problem.

Pis 08, 01 / Feb 5, 17 02:55 UTC

It is a fact that we will need some sort of currency for asgardia.

Really? why?

For trading with Earth our curreny isn't going to do much good - what incentive would they posisbly have to accept it? Anything we need to buy will take place in the local currency to the country trading with. Naturally.

For trading between ourselves, we can simply use the local Earth currencies. It's pretty unrealistic to consider constructing facilities for supporting our populaiton and then lifting them - the obvious path is therefore mining the required resources in space. Which from your perspective are infinite. With infinite everything, what use is money?

With regards to cryptocurrencies as a stopgap interim, then bitcoin has already been proven flawed so would be incredibly unwise to invest in - assuming it wouldn't take several datacenters full of ASICs just to make the investment on power return, and ignoring the continual entropy - none of the new ones (that I'm aware of) have undergone significant, or longterm testing, which make them equally unwise to consider.

  Updated  on Pis 08, 01 / Feb 5, 17 02:56 UTC, edited 1 time in total.
Reason: typo

Pis 20, 01 / Feb 17, 17 01:08 UTC

An Asgardian cryptocurrency is great!! like AsgardiaCoin a coin for an space nation

Pis 20, 01 / Feb 17, 17 12:56 UTC

Bitcoin is a very unstable currency, and I think that's already a good reason to not use it. Besides, it's an earthling currency (and it's basically failed). I believe we should creat Asgardia's own currency too.

Best regards, Martine.

Ari 00, 01 / Feb 25, 17 23:05 UTC

Hello fellow Asgardians!

Asgardian Informatic Team is a small, independent group of skilled IT people who shares a common passion for Space and its exploration. We joined Asgardia project since its announcement and we're following with interest current developments. We all know Asgardia is a fully-fledged and independent nation, and a future member of the United Nations - with all the attributes this status entails - a government and embassies, a flag, a national anthem and insignia, and so on." This clearly include its own currency. Asgardian currency should guarantee fast and secure transactions along with high level of privacy. Traditional currencies are really far from that. Money can be printed at will, it may be counterfeited, and we all know national central banks rarely works in citizen's interest. Though Bitcoin is a huge step in a positive direction it only partially fullfills these necessities. Technology evolved and new software solutions can provide faster transactions, with an higher privacy level.

Asgardia is also unique from a philosophical aspect: to serve entire humanity and each and everyone, regardless of his or her personal welfare and the prosperity of the country where they happened to be born. For this reason Asgardia can't have a central bank issuing banknotes as debt. Every Asgardian should have the right to mint a part of the total coins supply. Every citizen could be provided with a software to instantly start minting coins.

Our team could release such a software for free and instantly, if there is interest in the project. Software is lightweight and simple instructions are provided with it. Source Code could be immediately available, along with technical whitepapers of the involved technologies. Technical details, privacy tools, monetary mass, inflation, interest rates have been tested properly to offer the best and simple experience for both unexperienced and high-end users. We may discuss those features in a special thread on the forum Economy section. You can reach our team with hints and questions at asgardiacredit@yandex.com.