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> it could easily be translated between European and Asian languages
Good point. I never even thought of it that way.
> The only problem is that Hyperborean already refers to a people that existed in the distant mythic past.
Isn't that a good thing? All established ethnic groups have a mythical ancestor as part of their identity. In our case we can't go with a recent ancestor, as they are all European or Asian, so it has to be from the very distant past before the two were established as separate races. I'm not saying it has to be Hyperborea specifically, but we should have an origin myth of our own.