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The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency.
Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets.
Bitcoins in its pure essence is money. It is digital currency that serves the same functions and pu…

Crypto Cruise Ship ‘Satoshi’ to Make Panama Bay Home

Crypto Cruise Ship 'Satoshi' to Make Panama Bay Home

The Crypto Cruise Ship called Satoshi is gearing up to set sail from the Mediterranean to Panama, where it will drop anchor and call the bay its home. The ship has 777 cabins that will be auctioned off as condos. Bitcoin will be accepted for all goods and services aboard.

Crypto Cruise Ship ‘Satoshi’

Ocean Builders, a company that builds “seapods” or floating homes for seasteaders, has unveiled “The Crypto Cruise Ship” called Satoshi. It is being prepared to set sail from the Mediterranean and will anchor in the Gulf of Panama.

The Crypto Cruise Ship Satoshi is 811 feet long with 12 decks and 777 cabins to be auctioned off as condos. It will have three restaurants, a juice bar, two cafes, three bars, two pools, four whirlpools, a water park, and more, Ocean Builders’ website details. Bitcoin will be accepted throughout the ship for all goods and services, alongside U.S. dollars and other forms of payment.

According to the Maritime Executive publication, the Crypto Cruise Ship Satoshi was formerly a cruise ship called the “Pacific Dawn” by P&O Cruises Australia. Built in 1991, it has been operating with Princess Cruises and P&O Australia. P&O’s parent company, Carnival Corporation, recently sold the ship as its business was affected by the coronavirus pandemic.

American bitcoin entrepreneur Chad Elwartowski, COO of Ocean Builders, says that his company is scheduled to take delivery of the cruise ship on Nov. 4 in the Mediterranean. The ship will subsequently be renamed to Satoshi, after Satoshi Nakamoto, the pseudonymous creator of Bitcoin.

Elwartowski has been a pioneer in seasteading. Last year, he and his Thai girlfriend got into trouble with the government of Thailand while occupying a sea home off the coast of Phuket. The Thai government accused the couple of violating the country’s sovereignty and the Thai Navy seized their home and issued arrest warrants for both of them.

Regarding the Crypto Cruise Ship Satoshi, Elwartowski was quoted as saying: “We look forward to creating a hub for technology and innovation here in Panama. Our goal is to figure out how to live sustainably on the sea and chart new waters in this new frontier.” In addition to permanent residential units, Ocean Builders says that vacation rentals will also be available on the ship.

Registration has already opened and auctions for the cabins are scheduled to take place between Nov. 5 and Nov. 28. According to Ocean Builders, the move-in date will be in January next year. Buyers will acquire full ownership of their cabins and will be required to pay a monthly fee to cover operating expenses. The publication added that the first sale will be for 200 cabins, tentatively priced between $25,000 and $50,000.

Would you buy or rent a cabin on the Crypto Cruise Ship Satoshi? Let us know in the comments section below.

The post Crypto Cruise Ship ‘Satoshi’ to Make Panama Bay Home appeared first on Bitcoin News.



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