2020-10-21 20:21

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:

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, rename it the “MS Satoshi,” and sail from the Mediterranean to Panama’s coast.

The voyage and subsequent seasteading will require skilled staff, so 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