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.
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 “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.
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.”
Decentralized Pets, Drugs, and Homeowners Association Fees
Other important questions:
Pets, as in any libertarian home, will be allowed. There may be restrictions, however.
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.
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.
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.
Funds Are Safe Says OKEx CEO! Yet Withdrawals Awaits to be Resumed
When Will Okex resume Withdrawals One of the most popular exchange Okex suspended the withdrawals from its platform a couple of days before. It cited that the key holder who authorizes the transactions is out of reach having no communication with the exchange authorities. However, later the exchange informed the community that the keyholder is …
One of the most popular exchange Okex suspended the withdrawals from its platform a couple of days before. It cited that the key holder who authorizes the transactions is out of reach having no communication with the exchange authorities.
However, later the exchange informed the community that the keyholder is cooperating with the government authorities regarding some case which is nowhere connected to the exchange. In such a case, the withdrawals had to be resumed within 24-48 hours.
But now, it is more than 4 days, the exchange is yet to give any official update on the withdrawals increasing the FUD among the traders.
The CEO of Okex tweeted that, since the suspension of withdrawal, on-chain analysis shows no out-flow of funds from the exchange, rather the inflow has been on continuous rounds. Hence the user funds are safe and remain untouched.
OKB coin plunges to record levels
Following the announcement of the suspension of withdrawal, initially the dominant crypto Bitcoin plunge remarkably. Also the native token of Okex exchange, OKB also dipped significantly. However, Bitcoin managed to recover from losses in a very small time frame but OKB still waiting to enter the retracement phase.
It seems that OKB requires an official announcement may help the digital asset to surge to some levels higher than the current level. Currently, OKB is priced at $4.61 with a dip of 0.4 percent in the last 24 hours and more than 20 percent since the announcement.
Collectively, Okex needs to explain the users about the updates and also present an official announcement to the users so that the users do not fall into FUD.