Jul 3, 17 / Leo 16, 01 10:37 UTC

Re: How can we create a functional economy and generate money from nothing in Asgardia? Any idea? """" A dynamic economy"""""  

This is my suggestion to establish a dynamic economy:

Firstly, you need a virtual bank and a virtual store. Then a bank account is created for each Asgardia through the bank, and within it there is an equalization value of, for example, one million units per person, and the total amount of money is also determined. Anyone can create and sell a product for a virtual store on their own initiative. To benefit from the bank and the market, the bank can deduct and save part of the sales transaction as a tax, and use one million of them each for recruitment and retain part of it for supply on international markets. A different percentage of taxes can be considered for different income levels. All financial transactions must be transparent and observable for all members of the Asgardia to prevent rents and corruption. But everyone will be free to spend their money on the store as they see fit.

Here are a few things to happen:

First, the number of early inhabitants of Asgardia remains constant and the economy is expanding with two factors of efficiency and economic profitability.

Secondly, the importance of people dependent on production should be. As more productive and creative people produce more marketable products and gain more profits, they will have more value in Asgardia's decision making.

Third, equal status will be created in front of residents to grow in a free competition. Since the initial amount of Asgardia's money is fixed with this method, it will result in an increase in the value of money and will be able to supply it in foreign markets. But there must be a law on how and how much of the international supply comes from scientific research.

People who have the science, product, and creative thought that can create value from nothing, will be more influential by pooling their value for themselves.

In my opinion, the task of assigning a new colony to the economy, in its methods of production, will restrict it. We have to let the inhabitants of Asgardia decide what to produce and how to grow and develop Asgardia.

This is a method of political economy that directly links value to efficiency.

The next step is entering the world of inter-Planet business. Investing in resource discovery projects in other areas that start with accurate resource mapping, the creation of the space transportation insurance industry, the sale of resource information in the free market and the provision of capital to extract resources through robots and sell them. And in the next step, physical entry into the realm of space.

Jul 6, 17 / Leo 19, 01 20:32 UTC

Hi Partenon62,

I have an idea more or less like yours! Here is my post on the petition for Universal Basic Income(https://asgardia.space/en/petitions/10607-implement-universal-basic-income/):

Tax collection is not the only way to finance Universal Basic Income. One way I believe UBI can be started is through Helicopter Money (https://en.wikipedia.org/wiki/Helicopter_money) or quantitative easing for people (http://positivemoney.org/), and with that, a functional economy would be created.

How do I see this working:

Step 1 - Whenever a person becomes a citizen of Asgardia, 1000 SOLARS would be created out of nothing and this new money would be given to this new citizen.

Step 2 - To encourage consumption, a law would be created something like this: a citizen could only save 40% of what he/she earned when he/she became a citizen. The other 60% the citizen would have to spend as he/she liked within a year within 10 different products or services, otherwise, the government would take what exceeded 40% and was not spent.

Step 3 - Because of the law created in Step 2, other citizens who believe in Asgardia and want more SOLARS money would be encouraged to create business. These businesses would initially be digital products or services (ebooks, online courses, translations, programming etc.) and then tangible things (clothes with the symbol of Asgardia, toys and even food). To encourage entrepreneurship, these businesses would have no taxes.

With these 3 steps, I believe a functional economy would be created in a short span of time. Is still necessary to discuss how to avoid fraud (someone could try to become a citizen several times), but I believe that with a little research this can be solved. Web of trust (https://en.wikipedia.org/wiki/Web_of_trust) is an example.

In my opinion, Universal Basic Income can create a functional economy

  Last edited by:  Renan Cardoso (Asgardian)  on Jul 6, 17 / Leo 19, 01 20:35 UTC, Total number of edits: 1 time

Jul 11, 17 / Leo 24, 01 04:23 UTC

Hi cardoso,

Your method is very clever, but it does not lead to an economy, although it leads to commerce. The central government of Asgardia needs sustained revenues and incomes to invest in infrastructure projects. Unplanned and compulsory spending will only lead to bubble banking and speculation, which will result in inflation and the depreciation of "Solar."

Jul 13, 17 / Leo 26, 01 06:34 UTC

Develop cheap nano satellites made to collect space debris, recycle debris through deals with earth nations who would investigate the effects of space on wrecked junk. Junk collectors for short. Refining this science adds to the goals of tracking and maneuvering in space until we can mine asteroids, etc. 

Jul 13, 17 / Leo 26, 01 20:38 UTC

The creation of NGOs, the licensing of Asgardia endorsements, the voluntary assistance such as Asgardia at Berkeley ;CETI

As the coalition of people grows, there will be more opportunities. No one said we are in isolation from the Earth.

Jul 25, 17 / Vir 10, 01 22:04 UTC

I believe that we can create the beginning steps of of our economy by harnessing our collective knowledge and turning it into the commodity.  It is not the end all solution, but I think it could be a good start.  I wrote a blog post on the matter I would like to share with you:


Kind Regards,

Adrie Newman

Candidate for Strategist

Aug 15, 17 / Lib 03, 01 08:35 UTC

It all goes back to creating an Asgardian cryptocurrency, tradeable for earth assets as it happens nowadays, in order to create value on earth and be able to finance and finally deploy the Asgardia project. 

Cryptocurrency mining could be a way to give Asgardian citizens a tool to create assets, without taxes, nobody wants or needs taxes, that´s just one of the ways  how capitalism works, and I´m pretty sure nobody wants to bring earth economic models into space, it´ll fail, as it´s currently failing. 

So, I truly think that to give people the power to create their own assests thru computing resources it´s something to think and actively discuss about it. 

Forget comercial economy, as an example: producing goods for profit, that will encircle us in the current vicious circle earth is living right now. 

We just need a currency we can trade in order to acquire goods and/or resources we´ll need from earth to build and maintain our Space Nation, i.e: building living pods, building sustainable space transport vehicles.

 I mean basic needs should be produced in house, not brought or bought from earth, i.e. : food. So, yeah, basically a crypto could be a way to start. I actually saw something on the net about an Asgardian coin (ASDC) but I couldn´t see anything in concrete, like no coin website or development. I could take the step forward and create an Asgardian coin if needed, I know a little about crypto algorithms and it´s really not that hard to create a cryptocoin nowadays, there are thousands of altcoins trading on crypto exchanges for real bitcoins and real cash  so we can finally start pumping the Asgardia project and take it out of paper.

I found this thread on google doesn´t say much but at least somebody brought the subject up and tried to create an Asgradia Coin, apparently the project didn´t go through:


Mostly, I think, because it didn´t seem like a serious project, after you create all the algorithms and create the coin you need to announce it, people need to have an interest to buy or mine your coin, then people need to vote to list the coin into cryptocurrency exchanges and start trading.