Jun 22, 17 / Leo 05, 01 20:38 UTC

Article 13, Section 2 & 4  

As it states in the Constitution of Asgardia in Article 13. Financial Resources #2 Asgardia's currency shall be a monetary unit named SOLAR. Under #4 SOLAR shall be issued by the National Bank of Asgardia in the amount tied to the parameters of the Moon, the Sun, the other celestial bodies set by a special law of Asgardia. The National Bank of Asgardia shall be a lender of last resort.

What does "in the amount tied to the parameters of the Moon, the Sun, the other celestial bodies set by a special law of Asgardia" actually mean?

How is the space station actually going to be funded? Are the citizens of Asgardia going to be taxed on the "SOLAR" currency in order to conduct R&D, Construction and upkeep/maintenance of the space station? 

Are we tying "SOLAR" to the gold standard, crypto currency, number of Dogs and Cats people have?

If we created the "SOLAR" currency as a Crypto Currency and issued say $1,000,000,000 coins, possible giving each citizen $250 SOLAR coins to start out with, and after that we can purchase them on the open market or mine them as people do with Bitcoin, maybe we could gain the confidence of the People of Earth and be able to get started on creating the Space Station where Asgardian's will be living on. 

By the way, how is the Satellite, Asgardia-1 funded and who built it?  

The Constitution, doesn't actually state how Asgardia is going to be funded? I'm assuming through High Taxes, donations and fund raisers also sponsorships.


Jun 22, 17 / Leo 05, 01 21:09 UTC

I'm curious as to how they came up with SOLAR to begin with. Did we ourselves make the currency SOLAR, or was it an adopted available currency? I can't find that much information on it. When I searched for Solar Cryptocurrency, SolarCoin came up. The way SolarCoin is earned is by generating Solar energy.

Jun 22, 17 / Leo 05, 01 22:51 UTC

In response to your satellite question. You can find more information here: https://room.eu.com/news/asgardia-nation-to-launch-inaugural-satellite. Basically it's a nano satellite weighing no more than 3kg. The cost of launching nano satellite or "cube sat" ranges from $80,000 - $350,000 USD. Various companies have services where they handle the hardware and launch aspects like Rocketlabusa and Bloostar, just to name a few.

As for funding Asgardia, at this stage from site statistics I would image it can generate a bit of income based on the sheer number of visitors to the site. This can be done through collaborations or sponsorship from Space and Science related magazines or institutions. I'm talking about globally accepted currency at the moment. In the future how the SOLAR currency will be established and circulated is something I'm curious about.

Either way I would love to be involved in the development aspect of commerce, contracts and collaborations

Jun 23, 17 / Leo 06, 01 20:23 UTC

I understand that the CubeSat only costs around $100,000 or so, I'm curious as to who paid for this? Who paid to have it built? I'm wondering if the Founder of Asgadia paid for it? 

As to the Solarcoin, I am not sure if it is a crypto currency or not. There is no information on it at all. 

I would rather issue a bitcoin type of Crypto Currency as an example: "AsgardiaCoin", it could be mined and bought and sold online and traded for USD, EURO, Ruble, Gold, Silver, etc. etc. That way Asgardia has some money coming into the National Bank of Asgardia, this in turn can be used to begin research and Development into the Space Station and pay its employees some money. It could be the beginning of the finance system of Asgardia.

Jun 27, 17 / Leo 10, 01 12:50 UTC

 I am all for a Crypto Currency. I hope they get that started very soon. The value of the SOLAR could be very high and provide some funding for Asgardia.

Jul 18, 17 / Vir 03, 01 03:01 UTC

I like the discussion surrounding CryptoCurrencies, and clarification around the satellite. However, the question relating to Article 13 remains outstanding. The text reads: "Asgardia's currency shall be a monetary unit named SOLAR. Under #4 SOLAR shall be issued by the National Bank of Asgardia in the amount tied to the parameters of the Moon. The National Bank of Asgardia shall be a lender of last resort."

What are the "parameters of the the Moon"? Also, it appears that the wording has changed, seeing the removal of "...amount tied to the parameters of the Moon, the Sun, the other celestial bodies set by a special law of Asgardia..."

Does anyone understand this? A currency that is dependent on aphelion? Axial tilt? Interplanetary distances? What does this mean, and how can it be considered a factor in governing the value of the SOLAR currency?

  Last edited by:  Samuel Inglis (Asgardian)  on Jul 18, 17 / Vir 03, 01 03:03 UTC, Total number of edits: 1 time
Reason: Minor text edits

Jul 18, 17 / Vir 03, 01 12:48 UTC

"the parameters of the Moon, the Sun, the other celestial bodies" is the most hidden and jealously kept secret of Asgardia: you won't receive any answer about that, nothing at all, at least up to the parameter of the Moon days... or years... or centuries.

Jul 18, 17 / Vir 03, 01 17:03 UTC

Here is my understanding of this article:

SOLAR must be tied to some celestial bodies like U.S. Dollars was tied to gold in the past. In my opinion, this article is related with the discussion about fiat money, commodity money and representative money. In my understanding, SOLAR is a “representative money” and your value must represent the economic value of the moon, or the sun or some other celestial bodies.

An example: There is an asteroid between Mars and Jupiter called 16 Psyche and people estimates that worth $10.000 quadrillion dollars, so could be a special law that limits the emission of SOLARs to this quantity.

Again, this is my understanding and not something official. I would also like to see some official explanation on this article.

One curiosity: some people say that bitcoin is representative money too. The limit of bitcoin is 21 million Bitcoins and "Since bitcoin is often compared to gold, total number of bitcoins matches total amount of gold mined in human history which can be imagined as a cube 21 m on a side"

Jul 19, 17 / Vir 04, 01 14:44 UTC

In the FAQ section, SOLAR is a Crypto Currency. Not tied to the Sun, Moon or any Planet. It will be block chain crypto currency like Bitcoin is.

Taken directly from the FAQ section of this Site:
Does Asgardia have its own currency?

Asgardia will have its own currency, with the SOLAR as a unit of currency.

Describe the SOLAR. What is this currency and who is it available to?

SOLAR is Asgardia's official monetary unit -- a cryptocurrency that will be freely exchangeable into all main Earthly currencies on the free market on the Earth, in accordance with Asgardia’s laws. The National Bank of Asgardia will also be a lender of last resort.


  Last edited by:  David Shahal (Asgardian)  on Jul 19, 17 / Vir 04, 01 14:47 UTC, Total number of edits: 1 time
Reason: Added FAQ information