MOUNTAIN VIEW, Calif. (BitcoinLatina PR) — Building on the promises of Bitcoin, the BitcoinLatina Foundation announced it is planning on constructing a private satellite constellation dedicated to facilitate the use of uninterrupted distributed applications across its distributed peer-to-peer computer network. The Foundation’s launch provider, CubeCab, will use this constellation to demonstrate a very high launch rate, an achievement long known to be necessary to significantly reduce cost of access to Earth orbit.
“Latin American has many areas with poor Internet access,” said John Gotts, CEO of the BitcoinLatina Foundation. “Internet access is usually required to make use of distributed applications on blockchains such as BitcoinLatina, so we are developing satellites and cheap, easy to use ground terminals to bypass the problem. Previous attempts at satellite-enabled cryptocurrencies have mostly failed for want of monetization, but a network dedicated to financial transactions has several easy solutions to pay for itself.”
ATLANTA, GA., April 23, 2014 (DSI PR) – Bitcoins took one small step towards space today with the announcement of a preliminary design contract between Jeff Garzik’s Dunvegan Space Systems and Deep Space Industries Inc. as part of a drive to develop an orbital system for the not-for-profit BitSat project. The BitSats will comprise an orbital node for the bitcoin network now on Earth with a constellation of tiny BitSats continuously broadcasting the latest bitcoin block from orbit, enhancing the resiliency of bitcoin in the event of disruptions or outages to the terrestrial bitcoin P2P mesh network.
“Private spaceflight is breaking big, driving down costs so that great ideas like BitSats are within reach of even volunteer nonprofits,” said Garzik, who is organizing a donation-supported campaign to build and fly the system. “We want to keep bitcoin healthy and free by finding alternative ways to distribute block chain data.”
The exclusive, multi-platform partnership that Virgin Galactic has forged with NBCUniversal has begun to bear fruit over the past two months. The media giant has signed on to chronicle Sir Richard Branson’s flight aboard SpaceShipTwo and all the events leading up to it.
In November, Sir Richard Branson phoned into CNBC from his Necker Island retreat in the Caribbean to announce that Virgin Galactic would begin accepting the virtual currency Bitcoin for SpaceShipTwo reservations.
A month later, NBC News got into the act, with Science Editor Alan Boyle and a film crew trekking out to Mojave for a powered flight of SpaceShipTwo. They went away disappointed when the test was scrubbed due to a rare patch of bad weather in the High Desert.
Richard Branson is hoping some of the people who became rich with the run-up in the value of Bitcoin will use their new found wealth to purchase tickets to space aboard SpaceShipTwo.
In a blog post, the British Virgin Islands billionaire announced that Virgin Galactic would now accept the currency as payment.
One future astronaut, a female flight attendant from Hawaii, has already purchased her Virgin Galactic ticket using bitcoins, and we expect many more to follow in her footsteps. All of our future astronauts are pioneers in their own right, and this is one more way to be forward-thinking.
Two years ago, one bitcoin was valued at less than $10. Earlier this week one bitcoin’s value reached $900, tripling in the past month, and a US Senate committee hearing deemed it a legitimate financial service.