Asg 1, 01 / Jun 18, 17 13:36 UTC

Birth of a Currency  

A main factor is becoming a great nation is to begin having a form of currency. In today's age we even have digital forms of currency such as bitcoin and many other cryptocurrencies. Until Asgardia becomes a space station, we would need acquire precious metals to compete with other countries currencies. There are a wide range of acquiring the funds and Asgardia should launch multiple programs in an effort to attain them. Cryptocurrency mining is an easy and achievable process but who knows how long digital currency will sustain. 

Donations are all and good, and taxing citizens at this stage would seem kind of outrageous until Asgardia is a full fledged nation. Creating a form of currency and offering incentives to the citizens is a great way to begin. An easy way to achieve this is by creating bonds. Asgardian citizens would receive different bond levels depending on the amounts given as well as the value of the money they have given. 

Creating phone apps like "power sleep" and making them available to citizens is another way for Asgardia to make some money with ease. Leasing out the united power to crunch data to research organizations can help to acquire funds.

The main purpose of this post was to begin generating ideas that will assist Asgardia in acquiring money to purchase the precious metals and get this future nation a currency that can be used on earth.

Asg 1, 01 / Jun 18, 17 14:02 UTC

Hi Kilgath!

If you read in the Constitution we will have our own crypto currency called SOLAR (SOL). Details about it will be released as it is available.

Cheers!
Rebekah Berg
Head of Community Affairs


Asg 1, 01 / Jun 18, 17 19:31 UTC

@RebekahBerg - as a lead admin you shouldn´t spread misinformations - Solar can get only (XAS) not SOL - it´s a currency of Peru (=state in South America). 

So pls next time at least take a time to verify information before you´re spreading it as NGO employee, thx for understanding.

  Last edited by:  petrv (Asgardian)  on Asg 9, 01 / Jun 26, 17 23:27 UTC, edited 1 time in total.

Asg 1, 01 / Jun 18, 17 22:47 UTC

Yes I have read the constitution and it mentions SOLAR. It does not mention how the nation of Asgardia is going to attain to precious metals to support a currency valid in this world. You need gold, silver, etc to back up a currency with value. As my topic was just ways to help Asgardia get money to begin purchasing said precious metals. If I am going to buy into a currency I would want to use this currency anywhere I can, not just some tolkens I can get an at arcade that are only valid at that arcade. Like my last sentence in my first topic post The main purpose of this post was to begin generating ideas that will assist Asgardia in acquiring money to purchase the precious metals and get this future nation a currency that can be used on earth.

Asg 2, 01 / Jun 19, 17 00:16 UTC

@Kilgath - Solar will be cryptocurrency based on blockchain technology and will not be based on any precious metals (any world currency is based on golden standard anymore)

Asg 2, 01 / Jun 19, 17 01:46 UTC

Too bad the draft doesn't specify that SOLAR will be a virtual/crypto/block-chain currency. That would have been nice to see. Rather than look at speculation thrown around this forum.

Asg 2, 01 / Jun 19, 17 03:19 UTC

@petrv My apologies, my only intent was to convey the information that I had available. If you say that SOL is not available as an indicator then I will make sure that is communicated upwards. Thank you very much!

Asg 2, 01 / Jun 19, 17 03:27 UTC

Peru’s currency is indicated by PEN not SOL

form google finance 

1 AUD = 2.4932 PEN 0.00000 (0.000%)

Jun 19, 3:24AM GMT

 


Asg 2, 01 / Jun 19, 17 20:47 UTC

  https://en.wikipedia.org/wiki/Peruvian_sol it´s sol from November 2015.... and the currency indicator is PEN (PEruvian Nuevo sol). 

Regarding to ISO 4217 the first two letters are for two letters of the ISO 3166-1 alpha-2 country codes and the third one is usually the initial of the currency itself. As Asgardia is not recognized by UN, have no reserved ISO 3166-1 alpha-2 code. As most of "usable codes" for Asgardia are already reserved for other countries, only XS rest to be asked for reservation. (This is IMHO task for NGO). So together with the name of Solar the currency indicator will be probably XAS or XSL, as I stated in the previous post.

Believe me, it was me who suggested the name Solar to be used here, so I did some research ;o)

  Last edited by:  petrv (Asgardian)  on Asg 9, 01 / Jun 26, 17 23:27 UTC, edited 3 times in total.

Asg 2, 01 / Jun 19, 17 20:48 UTC

The ISO 3166-1 alpha-2 codes were discussed on some other topic here, but without Search I´m unable to find it now.

Asg 5, 01 / Jun 22, 17 19:30 UTC

Does the team have expertise in the design of the economic models, the consensus mechanisms, and the way in which decentralization is ensured? Just launching the currency as another token among hundreds will not be wise. Inherent flaws in even the largest cryptocurrencies are important to consider.

Asg 9, 01 / Jun 26, 17 11:09 UTC

But how can we dedicated long term CPU to cryptocurrency? What is the plan for this?  Would all citizens be mining for the great currency needs of Asgardia?

Asg 10, 01 / Jun 27, 17 11:26 UTC

Unconfirmed currency is not needed by anyone.
  Asgardia has no production and precious metals. And if you build power plants and tie the currency to a unit of energy? First, solar power plants on Earth and then in space? One unit of currency is equal to one unit of energy.