Dec 31, 16 / Cap 30, 00 20:19 UTC

Re: Cryptocurrency  

I think this a step in the right direction however crypto currencies have major issues that would need to be worked out especially with the concept of a block chain that constantly grows and a value that constantly changes for no identifiable reason. A new crypto that keeps decentralization, anonymity, digital, and open source but that somehow keeps a consistent value and where currency can't be lost because of a corrupt computer or forgotten password and where the blockchain doesn't get to the size of terabytes in a decade of use. Tall order but i believe this is the only way we could effectively use acrypto currency.

Dec 31, 16 / Cap 30, 00 21:08 UTC

I do not see cryptocurrencies any different in essence than any regular currency. They are all digital, and they all have their means for controlling creation of new money, not to mention other rules for using them.

The underlying problem of all currencies (including so-called cryptocurrencies) is the fact that they can be exchanged with other currencies. That is a gigantic mistake. Check what happened to Bitcoin. The idea of limiting its production to that of an algorithm is not good. But the idea of having the Bitcoin able to be sold or bought, using other currencies, is even worst.

A society needs currency to trade products and services, and its use should be limited to that function. When currency itself is allowed to be traded is when problems start to appear. The correct way of preventing all the problems we have in our different Earthling societies, is to remove the possibility of currency to be (a) sold and bought using a different currency, and (b) stored or saved.

How would that work? Say you want to obtain (we say "buy") a kilogram of oranges. You request money from the bank, exchange that money with the oranges, and then the store owner returns the money to the bank. Bank reduces your credit and increases the store owner by the same amount of money. End of transaction.

Because money cannot be sold or bought, then there is no room for a private for-profit business, such as private banks. Because money cannot be sold or bought, there is no room for charging interests. Because money is the property of entire society, it can only be created by a public national bank. Because money is property of entire society (which produces it for its own use, and only for that reason), then no single individual can store it. Why? There is always a limited amount of money circulating. The amount of money circulating must be the decision of the entire society. How much money society needs to trade products and services, is the correct question to calculate the amount of money to be produced by the public national bank.

Please think about this. Let's not handle money in Asgardia the same way all Earthling countries do. We would end up with a similar country if we do that.

  Last edited by:  Jorge Hugo Garcia Torres (Asgardian)  on Dec 31, 16 / Cap 30, 00 21:11 UTC, Total number of edits: 2 times

Jan 4, 17 / Aqu 04, 01 12:01 UTC

I disagree, cyrptocurrency will allow a small nation enough power to be able to pay its citizens and buy good and equipment.

the problem with it might be when somebody tries to influence it negatively or positively for gain.

its definitely the future, just governments legislation and laws need to still catch up to it.

I think it would be a great idea if asgardia decided on its own version of BTC or ETH and decided thats its official currency.

Jan 10, 17 / Aqu 10, 01 07:37 UTC

it's definitely necessary to use cryptocurrency for this super cool nation. It's not only about the independence, but also riding on the trend to create a purely digital cosmos-based population. It indicates the advantages of this group of people, and how they are open to adopt to new technologies and new ideas. I would suggest we start a blockchain asap, or using a not so popular one to kickoff.

Jan 22, 17 / Aqu 22, 01 19:41 UTC

An Asgardian currency should be an Asgardian currency, reflecting the total value of economic activity within Asgardia. International currency exchange is a necessary fact of international trade, which Asgardia will not be able to survive without.

Starting a cryptocurrency prior to the existence of Asgardia would just be a bitcoin knockoff and come with all the problems bitcoin is facing, such as runaway inflation and value shocks from national foreign policy announcements.

As for cryptocurrency in the future versus other types of currency systems, I don't think much can be said until we have an idea of how the Asgardian economy will function. Each has its advantages and disadvantages.

Mar 15, 17 / Ari 18, 01 17:46 UTC

Two main problems with cryptocurrencies, as all we may saw in the real world, are:
1. traceability
2. insurance

As Mt. Gox (and others) shown very well, "cryptobankers" are not responsible to anyone: they just have to take the money and flee, and anyone can say nothing at all.
Traceability is the other side, for which cryptocurrencies are not made for: if you need (and we'll have) to cope with anti-money laundering, traceability is the only way to discover who is recycling.
Not only: if we'll need to exchange our currency with other nations, we'll have to cope with anti-money laundering as, failing to do this, will inscribe us into nations' grey lists, with serious repercussions on our future business and investments.
Just to say, even Switzerland had to cope with other nations' grey lists, about anti-money laundering.

  Last edited by:  Luca Coianiz (Asgardian)  on Mar 17, 17 / Ari 20, 01 17:21 UTC, Total number of edits: 1 time
Reason: typo(s)

Mar 15, 17 / Ari 18, 01 21:41 UTC

The other problem is maintainence.

Those that feature entropy to the equasion eventually end up costing more to process the transaction than the transaction is actually worth. Resulting in application specific hardware deployed by the millions just to stay in the game.

Mar 15, 17 / Ari 18, 01 21:41 UTC

The other problem is maintainence.

Those that feature entropy to the equasion eventually end up costing more to process the transaction than the transaction is actually worth. Resulting in application specific hardware deployed by the millions just to stay in the game.

As I appear to have a double post here for some reason, would a moderator kindly remove the excess?

  Updated  on Mar 16, 17 / Ari 19, 01 02:33 UTC, Total number of edits: 1 time
Reason: Removal request

Apr 23, 17 / Gem 01, 01 12:18 UTC

How about adopting a cryptocurrency, there are lots of. Or better create a new one, I would like to help. But a cryptocurrency is definetily needed, that is fact.

Jun 20, 17 / Leo 03, 01 03:22 UTC

yes and to purchase things and receive money and we shall consider paying taxes, also, shall start devcelop soon and give us the chance to invest each one of us that started this year to buy our asgardian currency
I like the name Stelar for this currency

Jun 21, 17 / Leo 04, 01 13:07 UTC

I want to be involved in the initial development of the Cryptocurrency for Asgardia.

I also want to propose a .Net framework approach to code it.

Jun 22, 17 / Leo 05, 01 04:45 UTC

I think i dont want to live in a nation, where the same mistakes in finance will be made again! Our hole world is going to went broke at this moment and its only cause of our stupid financial system that is in control by an institution... The only way is everytime... WAR!!

We are Asgardians, a new nation with a heart for every human i think and we have to make a sign in the right direction. (Most) cryptocurrencys are de-centralized and some of them have great voting systems and economy, not only bitcoin anymore ;-)

For me, it ONLY make sense to use a cryptocurrency for a space nation!! Just my opinion..

Jun 22, 17 / Leo 05, 01 14:17 UTC

@NewDawn  You are totally right on that.

Jun 30, 17 / Leo 13, 01 18:47 UTC

I am sure that the best choice of currency for Asgardia nation would be its own decentralised crypto coin. 

It's quite easy technically to arrange and I can do it at no cost. But shall be of course approved by Asgardia Head of Nation first. 

This coin can have fixed rate to fiat currencies (EUR, USD, etc) or can be traded on crypto currencies exchanges. It can have reissue option or can be fixed quantity of coins. What I mean that it can go the way Asgardia will decide.

The most important thing is to appropriately name the coin) 

It will be absolutely controlled only by Asgardia at the same time easily converted to fiat in case of need.

High tech coins coins for space nation!

Jul 4, 17 / Leo 17, 01 01:46 UTC

I recommend DAG technology for cryptocurrency ( It's different with Bitcoin or other cryptocurrencies. It cannot pump quickly on trading (that make bad effect on price of cryptocurrency)