Jan 8, 17 / Aqu 08, 01 21:46 UTC

Bank of Asgardia: Online Co-op Investment Banking  

Greetings Fellow Asgardians.

The currency, money, finance questions are some of the most interesting to me in developing our nation.

I think the reasons are quite obvious.

1.) Space sounds expensive 2.) Space sounds expensive 3.) Space sounds expensive

That's my only serious qualm about this project. We are going to need SO MUCH MONEY to accomplish even a fraction of what we hope to.

I've been thinking about it long and hard.

I think I have come up with at least a partial solution to start cashflowwing fast, and hard.

Subscription Based: Online Co-op banking.

The idea is actually quite simple.

First, you need to have a Fantastic Online Banking Platform. - I have one in mind.

People have the option to open either a free account or a subscription account. where subscription accounts receive a higher interest rate up to 5%

Free accounts still make an impressive 1% - similar to some of the other "internet only banks" out there

There would also be tiers for the amount invested in the bank.

$0-99. - + 0.05% $100-$999. - + 0.1% $1000-$9999. - + 0.5% $10k - $99k. - + 1.0% $100k - $999k. - + 1.5% $1M plus - + 2.0%

For each tier you would make additional interest that is added to your account's base interest. (1-5%)


500,000 asgardians on the $1/mo co-op rate.

They would only need 1k in the bank to cover their subscription.

Plus they would make more money in interest by having more money in the bank. = happy bankers

6M per year from JUST Subscriptions.

I could go much more in depth, but i'all post a link to my google doc write up when it's don.

The $$ numbers start to make this thing look possible.

Jan 9, 17 / Aqu 09, 01 15:44 UTC

This is interesting, however the enterprise would still need to create value in order to not ultimately cause a bubble in the currency. Natural limits on the monetary base will cause a spike in valuation - just like Bitcoin - but BTC's use by merchants has created a legitimate value for the currency. Certainly, blockchain technology will be a major player in our banking system.

Where we need to start is thinking not about the money we're spending, but about the value we're going to create. Whether that's as a hub for space mining missions, tourism, or research - we need to define our good in terms of trade value. We must think of currency as a short term storage of trust in order to facilitate trade. From here, we can begin to create an economy that is sound and flexible with the needs of mankind.

As for spending money - the planning commission should define our needs, and we can establish relationships with Earthbound partners such as SpaceX and Planetary Resources. Of course, this may all not get going until long after we're dead, so just direct a portion of your life insurance towards Asgardia. Buy a $1000 single premium whole life policy, name an Asgardian family trust as the beneficiary and the Bank of Asgardia as the trustee to make investments on the trust's behalf, and forget about it. Any descendants of yours who are Asgardian will reap the benefits.

Jul 28, 17 / Vir 13, 01 11:04 UTC

I  understand and agree with Kendrick .Kirk  you said  that " we need to start is thinking not about the money we're spending,  but about the value we're going to create.  Whether that's as a hub for  space mining missions, tourism, or research"  Money issued would be backed by the trust,confidence, optimism, prospect of profitabiility , potential,  of the issuer .. Money is a legal tender afterall.

Nov 17, 17 / Sag 13, 01 21:05 UTC

It will be a long time before Asgardia can provide a created value - certainly plans can be laid now, but we still need to begin raising funds NOW.  I think that anyone who read and signed the constitution should also be expected to give a nominal amount on a regular basis.  Yes, at this point the amount needs to be voluntary, but it we are going to be citizens of a fledgling country than we all ought to be stepping up to create that country.  For people in poverty, they can contribute work.  For those who indeed have some discretionary money, regular giving ought to be the norm.  There are enough citizens now that regular giving by most everyone could raise some capitol.  I know the first thing I did was send a small amount as a sign of good will. 

Nov 17, 17 / Sag 13, 01 23:10 UTC

I think that it is a great idea but i also think that it is too early for something to be put in stone.
The plan and structure will be varied in the start as Asgardia goes from subscription based income to a full banking system.
Until Asgardia can provide value for the rest of the world i don't think there will be that many willing to invest.