What is the end of the 'Satoshi', which was supposed to be the world's first crypto asset cruise ship?



A large British letter, The The Guardian reports.

The disastrous voyage of Satoshi, the world's first cryptocurrency cruise ship | Cryptocurrencies | The Guardian

The plan to turn a large cruise ship into an autonomous city at sea was held in December 2010 at an event about the future of humankind, a maritime nation called ' Seasteading ' by former Google engineer Patri Friedman. It all starts with talking about the concept of.


Jack Dayton

Friedman's plan did not come true for the next 10 years, but in November 2020, three businessmen, including Grant Romund, the founder of the marine construction company Ocean Builders, joined the large cruise ship Pacific Dawn. By purchasing the, it suddenly began to take on reality. The ship was originally valued at more than $ 100 million, but due to the pandemic of the new coronavirus infection that occurred in 2020, it was worth $ 9.5 million. It was sold at.

Romund and his colleagues, who were enthusiastic supporters of Seasteading, named Pacific Dawn 'Satoshi' after Satoshi Nakamoto , the inventor of Bitcoin, and a society where the economy can be established only with crypto assets. I devised to make it the center of.

Investor Chad Erwaldowski, one of the buyers of the Satoshi, revealed on the online bulletin board Reddit about the plans for the Satoshi, and his writing says what life would be like on the Satoshi. I was flooded with questions about. Mr. Elwaldowski is a person who has been removed by the Thai government in 2019 for building an illegal house on the ocean in Thailand.

A couple who illegally built a marine house with the money they made with Bitcoin appeared --GIGAZINE

According to plans revealed by Elwaldowski at Reddit, the Satoshi was planned to be an eco-friendly cruise ship powered by solar power. In addition, there were detailed rules such as not being able to put a microwave oven in a private room for safety reasons and not being able to keep pets weighing more than 20 pounds (about 9 kg). In addition to being able to mine crypto assets in the Satoshi issue, various services have also been developed, and it has been decided that various crypto assets such as Bitcoin, Ethereum, and Bitcoin Cash will be available for transactions. ..

Luke Parker, a supporter of Seasteading and quitting his job on the profits of Bitcoin investment, told The Guardian, 'The Satoshi is the most real thing I've ever heard. It was a typical sea-steading project. In the end, I couldn't buy a room of the Satoshi because my wife opposed the life swayed by the ship, but it was hard to give up pressing the buy button. I did. '

On December 3, the Satoshi, which was under construction at a port in Gibraltar on the Iberian Peninsula, began its voyage to the Gulf of Panama for its official opening in January 2021. However, as we traveled through the Atlantic Ocean, various problems emerged. One of them is Panama's Maritime Law. Initially, Elwaldowski expected that by deregistering the ship's registration from the Satoshi and registering it as a residence rather than a ship, various regulations could be circumvented. However, although the Panama government allowed the Satoshi to be moored in the territorial waters, it stipulated that the Satoshi must be officially registered as a vessel.

Originally, the sea is a place with so many restrictions that it is called 'the most strictly regulated place on the earth', and cruise ships in particular are an industry that is legally shackled as much as aircraft and nuclear power plants. With no excuse for 'a house, not a ship,' and no prospect of clearing the regulations of the Maritime Law, several insurance companies withdrew from Satoshi's insurance all at once.

Romund and his colleagues couldn't find an insurance company to take out Satoshi's insurance while it costs $ 12,000 a day just for fuel while sailing, and finally Sea Satoshi on December 19th. Announced that the plan to make it steady has failed. Customers who had already purchased the cabin were notified by email that they would be refunded.

After that, the Satoshi, which was to be scrapped, was sold to a scrap yard in India. However, the Basel Convention, which regulates the transportation of waste across national borders, revealed that the Satoshi could not move from Panama, a member of the treaty, to India, a non-member, so the plan to discontinue the ship was also abandoned. Become.

Eventually, the Satoshi, purchased by British cruise ship startup Ambassador Cruise Line, was renamed Ambience and decided to become a luxury liner again. Ambience, which is scheduled to operate from April 2022, will serve cocktails and full-course dinners, as well as various shows, but it seems that Bitcoin cannot pay for them.

in Ride, Posted by log1l_ks