Mar 10, 17 / Ari 13, 01 18:34 UTC

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

Actually we have already money.

Because we have things that have value.

Because we did some work the last months.

Because we saved money by doing it ourselves.

Grtz, Dirk.

Mar 11, 17 / Ari 14, 01 14:49 UTC

An Asgardian currency will not particularly facilitate Asgardian trade, nowhere else accepts it. It will create problems. Far more problems than it solves, least of all in it's maintainence and distribution.

For an example, lets pretend I whore robotic labour to produce custom goods. You buy my goods, but pay me in Astards. This sounds like a reasonable arrangement until you realise my energy supplier to run the plant doesn't accept Astards and even worse, none of the suppliers for the materials required for anything I can make accepts them, either. If it was possible to convert from Astard to a more common accepted currency form then this is most unlikely to occur without transaction cost, so either reduce the value to me in this transaction, or you when I compensate for this by raising the cost via that currency.

Even worse is manual labour - as random citizens of other nations(pure Asgardian employment unfeasible in most sectors) are incredibly unlikely to accept payment in anything other than the native currency, unless the local currency is really, really, poor. They need it because all their bills are in their native currency. Personally, I'd be more prepared to accept payment by the way of good wishes than the currency of a recently founded micronation claiming a native soil of space and seemingly featuring not a great deal of care, attention, or effort to any of the really important details. But there again, I am kind of biased against currency in the first place.

At best, it could facilitate trade between Asgardians - but only if they actually have physical contact, else this trade is more than likely to require postage, and a second currency increasing the complexity to the level of existing systems. And as previously highlighted, they'd have nothing really to be able to spend this on - the resource will rapidly pool in large amounts in few pockets, and they'll have little way to rid themselves of it. This is not something that would be entirely right to describe as a "functional economy".

Mar 11, 17 / Ari 14, 01 21:55 UTC

There is a precedent in my country, in a really poor region the community, commerce and initiative of a residents' association have created a social bank that lends money to people who do not have access to regular credit. But the loan is made in an alternative currency that is only accepted by merchants in the community, so money can only circulate in the community. Traders go to the social bank and exchange for currency to buy from outside suppliers.

So the idea is this; Asgardia has its currency to be used among its members but can be exchanged (for example Dollar) to be used outside the community. The only difficulty I see is to make the community accept this trusting currency that it can be exchanged per dollar at any time or when necessary.

The exit that I see is the government to back the emission of Asgardian currency with ballast in dollar, euro or pound. Thus the population could buy "Asgardian currency" (yet unnamed) directly in the ministry of finance and vice versa.

To enable the operation the credit cards could be used to buy still unnamed Asgardian currency and / or exchange for the currency backed up.

Evidently if I buy the currency and then want to sell it back I lose a little of its value, the exchange margin. The government sets the buying and selling prices and the changes can be free among the Asgardians who want to work in the financial market.

  Last edited by:  ANTONIO CARLOS DE SIQUEIRA (Asgardian)  on Mar 11, 17 / Ari 14, 01 22:03 UTC, Total number of edits: 2 times

Mar 25, 17 / Tau 00, 01 10:55 UTC

The wheel has already been invented. The era of inflationary fiat currencies is passing The banks will die. BTC and ETH should be used as money in the planetary economy.

  Last edited by:  Petro Kiselov (Asgardian)  on Mar 25, 17 / Tau 00, 01 11:02 UTC, Total number of edits: 3 times

May 24, 17 / Can 04, 01 12:33 UTC

Asgardia, at this moment, is a movement. In order to incorporate like a state, there needs to be an entity in space. Even a small space settlement would cost billions of dollars, or about tens of thousands of dollars per Asgardian. In order to bootstrap to orbit, we need a profitable business in space. It might be interesting to start a digital free haven, a place free of censorship. To build and launch a satellite-based webserver in geosynchrous orbit will take much  less, i.e a few millions.

May 24, 17 / Can 04, 01 13:55 UTC

I wonder... we trow away much food, if you put food in the vacuum
of space would it not be conserved?

Grtz, Dirk.

May 24, 17 / Can 04, 01 14:39 UTC

@Germen Roding
It was my thought too: we'll have to commerce in "something" other nations' people want to buy.
As "moving goods to space" may have far prohibitive costs (I mean: who likes to pay, let's say, 1.000 euros or dollars to move an apple to the "space base" we even don't have?) we'll have to commerce in services, digital ones. Thus the idea of "digital free heaven", even if it's kind of dangerous business, it can be remunerative at a fair cost of exercise.

Other, more physical, goods may be placed into the marketplace to be bought, but produced directly on Earth (that's trivial enough).
I'm not that sure a (traditional) "server rack" can be placed into orbit at affordable costs: storage, at the moment, still needs hard disks. Even if it can be calculated the difference, in costs, to send up there SSDs: maybe the fact we'll have to pay to lift an hard disk compensate the relative high cost per megabyte of an SSD which may result less expensive to send, in terms of cost-per-megabyte/cost-to-lift.
The fact the storage have to be physically out of Earth is due to the fact Earth's laws may prevent some kind of uses we'll may prefer.
On the other side, depending on the kind of satellite we'll place into orbit, chances are we'll have no energy and cooling costs. ;-)

Last but not least, being a State we should have an internal currency: that currency should be exchangeable with other Earth's ones (with the exchange rate established by Asgardia National Bank) and used into Asgardia only or with the ones will like to accept it in payment.

May 24, 17 / Can 04, 01 16:29 UTC

A space-cloud? If we donate each some harddisk-space and cpu-cycles and
somebody arranges that in to one big storage and one big computer, like we
do now with boinc, we could run our own self-made supercomputer with our
own special space-programmes.

Grtz, Dirk.

May 25, 17 / Can 05, 01 09:34 UTC

@Dirk Baeyens
We can't run such business on Earth: what if "Asgardia.net" (the cloud) runs something is illegal into your country and, awakening in the morning, you'll find the police at your door, asking you to give 'em your hard disks?
Things which are illegal on Earth (maybe into some countries only) may not be the same into space, the same as "offshore" heavens, with the difference it could be harder to break a business based into space than on Earth (look what happened to gnutella and other similar cases).
That just to say, but we're not forced to do something "illegal-on-Earth", obviously. ;-)

Jun 9, 17 / Can 20, 01 08:15 UTC

Perhaps we could adopt a crypto-currency?  I'd suggest Ethereum but there are many others out there!  

I'm suggesting it because Ethereum lends itself to development with others(generating income), plus we could implement our own currency within Ethereum -


"Design and issue your own cryptocurrency

Create a tradeable digital token that can be used as a currency, a representation of an asset, a virtual share, a proof of membership or anything at all. These tokens use a standard coin API, so your contract will be automatically compatible with any wallet, other contract or exchange also using this standard. 

The total amount of tokens in circulation can be set to a simple fixed amount or fluctuate based on any programmed ruleset."

Using Ethereum(or another crypto-currency) we could get the basics of a working economy sorted.  I'm not an economist(this is probably clear, lol) or a crypto expert but in my mind I see using a crypto-currency as very "Asgardian"

https://www.ethereum.org/


Jun 9, 17 / Can 20, 01 15:57 UTC

@atledenin
The problem with a cryptocurrency, as far as I know (but I'm re-reading the whole process) is that we, as a State, will need to have business to other States, not just on a people-to-people basis so, what if they'll grey-list us as we'll be in danged, 'cause of our currency, to be used for money laundering?

Jun 11, 17 / Can 22, 01 23:24 UTC

1) We can not use any existing official currency as we will not have influence on it - I mean if we use USD of Bitcoin we can not emit it. I am not sure about legal aspects for declaring some currency say in US but in RF it is illegal. What we can make is a kind of Mesuring Unit, call it any way you like(we can not officially say that it is currency) and for a legal base we can use corporate law for obligations(in fact there is no limit for emiting obligations). So as far as asgardia is not an officially recognised country by any Earth states we can call ourself a comunity and use corporate law.

2) We can emit obligations in any amount but they worth nothing till we have some real comodities to secure them. To secure the obligations we need goods or their equivalents (amounts of currency of official states). There several ideas how to raise funds. 

a) First of course make a tax(say any citisen shall pay 1USD per month) for use of Asgardia web service. 

b) Make a search engine, well add google search engine to Asgardian site and ask Asgardians to use it, 200 000 searchers for months will bring not much but some advertising fund(say 1-2 000 usd per month) - not much but cost nothing neither for the state nore for citizens.

c) Make an internet shop where asgardians will buy what they want(and recommend to asgardian to use it) - well for the asgardians may be at first there would be no much profit but is can bring some chash to the state due to added value. Possibly at first we can not make a golbal Internet shop, but we can make profit from referial programs of other shops promoting their goods in our shop and gradually making agreements replace these third party goods for the goods we sell.

d) Having clear what asgardians buy in the I-shop we can start organising production chains for that goods trying to bring as much automation to it as possible. Say asgardians buy 20000 mobiles per month - so we can arrange an assembly line for phones knowing that we have the demand for them - than buy or construct production of some components that are less technoligical. 

e) At some extent when Asgardia will have some profit funds and so to say some state companies it can start to emit obligations in which it will be able to pay salaries and that can be exchanged for currency.
This is how I see it in brief. Sorry for mistakes English is not my native language.

Jun 18, 17 / Leo 01, 01 03:09 UTC

I am sure that once we have habitations off planet, we can start a tourism campaign and possibly vacation packages. I personally intend to file a business license for a vacation spa/resort. As for tangible exports from Asgardia, I am sure that there is some money to be made in scientific discoveries, as Asgardia patents and protects the hopefully many and great scientific breakthroughs. We also may establish schools and universities and charge admission at a higher rate for non-citizens. 

Jun 21, 17 / Leo 04, 01 19:29 UTC

Here's a start, start businesses with direct Asgardian links. Then, use these businesses, for example, affordable modular and modern housing/living quarters, technologies required for space orbit habitation to be sustainable, such as vertical farming in Urban or space restrictive  environments, as well as recreational businesses, like fashion for Asgardia citizens, or clothing inspired by Asgardia. 

Jun 26, 17 / Leo 09, 01 14:36 UTC

yeah i have few ideas to generate revenue for asgardia......

1) we can start our own publication house on asgardia name to write novels etc ..... 2) apart from selling merchandising we can create our own handicraft house which we make unique staff........

regards

kashif shaikh