Cypherpunks Taiwan successfully launched another bitcoin satellite receiver according to the reports from Bloctempo which we have in our altcoin news today. The island nation is the second in Asia to do so after Japan did the same in 2018.
The setup uses the controversial Blockstream satellite project. Even though China is the one that dominates the bitcoin mining space, there is a zero-tolerance policy towards the erection of such devices. As Andreas Antonopoulos explained, this is a scenario in which could turn out to be very useful. China is also known for towering censorship laws and this could be the reason for the reports that are emerging from more progressive crypto nations such as Taiwan.
Setting up the receiver was not really expensive. The installation cost about 13,000 Taiwanese dollars which is roughly about $418 USD. Cypherpunks Taiwan page on Github provides even more details of the entire process. Currently, running a Bitcoin node via satellite is not so difficult especially as the blockchain reaches slowly the size of 240GB in size. This means that if you have the need you can easily tap into bitcoin for free for 24 hours a day thanks to the coverage from the Blockstream satellite.
Currently, the installation provides only the ability to receive messages due to Taiwan’s strict transmission regulations. In the meantime, the co-sponsor of Cypherpunks Taiwan Chen Bowei confirmed that they are looking into obtaining a license. He also stated that the storing of the blockchain data is the only application of this technology:
‘’Information received by the satellite receiver is not just for trading over the Bitcoin network, but also information from all over the world. For example, the previous Nakamoto Chong Treasure hunt is transmitted via Bitcoin satellite.’’
The developers that are working on the project are trying to find ways of sending and publishing uncensored news. One developer known under the name of SafetyFirst believes that this will provide another medium for reporters in countries that have government-controlled media. Blockstram’s coverage is great in many parts of the world especially in Africa where the internet infrastructure is not still pacing up with the West.
As noted in the latest cryptocurrency news, the entrepreneurs that have the skills and funds can easily send bitcoin through space as a very useful and cheap alternative.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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