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BPSAA | Blockchain Privacy, Security & Adoption Alliance



BPSAA (Blockchain Privacy, Security Adoption Alliance) goes live assembling crypto gurus from multiple projects for the good of cryptomanity. BPSAA aims to bring collaboration through BPSAA verified projects in order to enhance Privacy, Security, Adoption for users in the crypto realm.


Projects in the Alliance:
Pirate Chain (Most Anonymous Crypto)
Turtle Network (Interoperable DEX w/fiat)
Ether-1 (Decentralized Storage)
Sentinal (Decentralized VPN)



Crypto Cruise Ship Colony Reveals Details of Off-Shore Life

The “seasteading” company Ocean Builders purchased a decommissioned cruise liner to build an off-shore crypto colony. Chad Elwartowski, the company’s COO, completed a Reddit AMA recently, revealing details about the new community. Floating Paradise When Thai authorities raided Chad Elwatowski’s floating-ocean home, he found himself on the lam. But that didn’t discourage the crypto-entrepreneur from […]

The post Crypto Cruise Ship Colony Reveals Details of Off-Shore Life appeared first on BeInCrypto.



The “seasteading” company Ocean Builders purchased a decommissioned cruise liner to build an off-shore crypto colony.

Chad Elwartowski, the company’s COO, completed a Reddit AMA recently, revealing details about the new community.

Floating Paradise

When Thai authorities raided Chad Elwatowski’s floating-ocean home, he found himself on the lam. But that didn’t discourage the crypto-entrepreneur from pursuing his dream of “seasteading” or living in a floating home on the ocean.

A YouTube channel about seasteading interviewed Elwartowski at his floating home before he went on the lam, and it was towed away by authorities:


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His company Ocean Builders, which specialized in floating homes called “seapods,” purchased a decommissioned cruise liner from P&O Cruises of Australia. And on Nov. 4, 2020, the company will take control of the ship, renamed the “MS Satoshi,” and sail it from the Mediterranean to Panama’s coast.

The voyage and subsequent seasteading will require skilled staff, and Elwartowski climbed aboard a Reddit forum to reveal details of the ship and recruit seasteading pioneers.

Floating Some Ideas

In the AMA, Elwartowski explained solutions to some day-to-day logistical issues facing the floating citadel. After all, utilities and supplies can’t simply be provided out there in the ocean. Or can they?

Initially, the ship’s power will come from generators, but he hopes to replace them with solar panels soon. Supplies and food will come from a chandlery, a store of goods for seafaring vessels. Chandleries already exist to supply cruise ships anchored off the shore of Panama.

As for connectivity, the bitcoin buff says the MS Satoshi will have high-speed internet, rather than a satellite connection, possibly because of its proximity to the shore.

Death and Taxes

Many on the AMA interested in joining the adventure were curious about payment and taxes. Though the ship will be anchored offshore, Elwartowski isn’t taking any chances (after his near-miss with Thai authorities).

Regardless of the new Bitcoin Colony’s legal status and sovereignty near Panama, Elwartowski says he doesn’t take taxes for money made outside the country. So remote workers, in theory, would not be punished with additional levies. This is likely an important point for any libertarian-minded crypto worker or trader.

So if the ship is legally in Panama, some users asked, what’s the point? Elwartowski explained that the initial run of the ship would be to prove the viability of sustainable seasteading. With some experience, the company will explore moving out into international waters.

Decentralized Kitchens AKA Restaurants

Some Reddit users wanted to know what services would be included and how monetary transactions for services could remain crypto-friendly.

Elwartowski maintains that things will remain as decentralized as possible. However, due to fire safety, rooms will not be allowed to have kitchens or microwaves. Instead, residents will have use of the ship’s restaurants, similar to a normally-functioning cruise liner.

These restaurants will be available at a discount to residents (as opposed to vacationers). Another safety point is COVID-19 precautions.

The management company running the ship, Columbia CS, has a COVID-19 response procedure similar to regular cruise ships. Still, one user commented that a full cruise ship might as well be called the “SS COVID.”

Redditor Francis_Dollar_Hide fears for the safety of the SM Satoshi’s passengers | Source: Reddit

Decentralized Pets, Drugs, and Homeowners Association Fees

Other important questions:

Pets, as in any libertarian home, will be allowed. There may be restrictions, however.

Source: Reddit

Will there be a designated drug dealer? Will the cruise ships be a giant sausage fest? Redditors wanted to know, but Elwartowski (understandably) avoided answering those questions.

Source: Reddit
Source: Reddit

Cabins will be priced at $25,000 – $50,000 with a monthly maintenance fee. Interested parties can learn more about life on the MS Satoshi at the Ocean Builders’ Website. And anyone interested in joining the maiden voyage as crew can apply at the vivavivas website.


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Kik, SEC Propose $5M Settlement Over 2017 ICO, Ending Yearlong Battle



Kik and the U.S. Securities and Exchange Commission (SEC) have proposed settling their dispute over a 2017 token sale with a $5 million fine.

The proposed joint settlement, which also enjoins the Canadian firm against future U.S. securities law violations, still needs approval from presiding judge Alvin K. Hellerstein, according to public court documents. If approved, the settlement would cap off a year-long legal fight between the two.

Kik must give the SEC 45 days notice on any actions it undertakes with its Kin token treasury, but the filing did not hint at what could be in store for Kik’s 3 trillion Kin. CEO Ted Livingston declined to comment.

A similar lawsuit filed by the securities regulator against messaging platform Telegram saw that firm’s blockchain project, the Telegram Open Network, abandoned before it could launch.

Kik originally announced it hoped to fight the SEC in court, potentially creating a precedent for how token sales might be treated under U.S. securities law. However, it backed away from a jury trial request in March, and lost a motion for summary judgement last month.

At the time, a judge ruled that Kik’s issuance of Kin was an investment of funds in a joint enterprise that sought to boost the token’s price, satisfying the prongs of the Howey Test, a Supreme Court case used as a precedent for evaluating whether assets are securities.

Kik General Counsel Eileen Lyon said the SEC should create clear rules for the crypto industry, rather than publish “conflicting statements” and other non-binding forms of guidance in September.


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OKCoin Confirms Normal Operations During Founder Arrest in China

OKEx had suspended all cryptocurrency withdrawals indefinitely last week after its founder Star Xu was taken away by police



Cryptocurrency exchange OKCoin has assured users that its operations and services, including deposits, withdrawals, and trading are operating normally after its founder Mingxing Xu, also known as Star Xu, was arrested in China.

Its sister exchange OKEx had suspended all cryptocurrency withdrawals indefinitely last week, citing a private key holder from the exchange is currently unavailable.

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Chinese business media outlet Caixin reported that Star Xu has been held in police custody at least a week ago to help an investigation into the backdoor listing of OK Group in Hong Kong in 2019. At the time, OKC Holdings bought 60.5 percent of a Hong Kong-listed construction firm for $62 million.

Star Xu was arrested before by the police of Shanghai in 2018 on fraud charges after a group of investors claimed they incurred big losses due to a system crash they alleged OKEx orchestrated. However, he was released after 24 hours after assisting authorities’ probe into investors’ accusations that OKEx manipulated bitcoin futures.

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“OKCoin is a US based entity with the management team and headquarters in San Francisco. We do not expect this ongoing investigation of one of our directors will have any material effect on OKCoin’s global business operations,” the fiat-to-crypto platform said.

OKEx suffers large outflows

OKCoin was one of the three major crypto exchanges in China before the authorities’ crackdown on the virtual asset industry, including a ban on ICOs in September 2017. Fleeing the hostile business environment, the exchange, along with its peers, has since shifted its operations overseas. OKEx, which works as a separate entity from OK Group and OKCoin, is headquartered in Hong Kong while being officially based in Malta and its CEO is Jay Hao.

Following the news, and due to its big user base in China, large bitcoin outflows from OKEx went to its competitors. Nearly 10,000 BTC (worth $113 million) were transferred to other exchanges, including Binance, which received nearly half of this amount.

OKCoin has recently made an executive swap with its current CEO, Tim Byun, stepping down to assume his old role as Government Relations Officer (GGRO) of OKGroup. Meanwhile, OKCoin chairman and one of its early investors, Hong Fang, has taken over as the newest executive director. The former Goldman Sachs banker also serves as chief operating officer (COO) of the San Francisco-based OK Group.

OKCoin handled $19.7 million in cryptocurrency trading in the last 24 hours, according to CoinMarketCap. Its crypto-to-crypto entity, OKEx, is ranked the world’s 11th largest cryptocurrency exchange by adjusted trading volume, currently trading around $2.3 billion over a 24 hour period.

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