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First Bitcoin Transaction on Blockstream’s Blockchain Satellite by adsactly

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· @adsactly ·
$117.58
First Bitcoin Transaction on Blockstream’s Blockchain Satellite
<center>![](https://i.imgur.com/WCVkJGy.png)
[Source](https://cdn.pixabay.com/photo/2016/11/10/05/09/bitcoin-1813503_960_720.jpg)</center>

<br>

Did you say Bitcoin price is going to the moon? How about “Bitcoin IN space?” All this still seems unrealistic, but the crypto world is heading up, literally.

**The first Bitcoin transaction in space via Blockchain Satellite, took place on a network-disabled computer on August 21st 2017.**

CEO Adam Back Tweeted, confirming the transaction.  The satellite node belonging to Grubles, the BitcoinVPS creator received the first transaction.
 
 <center>![](https://i.imgur.com/SR6M4aN.png)</center>

The Blockstream website describes its satellite venture:

<center>![](https://i.imgur.com/yaOJEha.png)</center>


# Introduction to the Blockstream Satellite Network

**Using Bitcoin without Internet access.**  

The Blockstream Satellite network is meant to allow the use of Bitcoin without the need for Internet.

*It is important to mention that Blockstream uses leased satellites.* 

•	The satellite broadcasts the Bitcoin blockchain to the entire planet, in three phases.
•	This benefits around 4 billion people with no internet access. 
•	No network is involved, thus eliminating all mid-transaction network interruptions. 
•	Using Software Defined Radio (SDR) technologies. This is open source and offers cost-effective satellite communications. 
•	This eliminates the need for outrageously expensive specialized satellite equipment.

According to Back, the company guarantees a 64kbit/sec connection, which means you get *“adequate bandwidth to reliably maintain synchronization with the network with modest delay.”*

## Equipment Needed and Approx. Costs Involved 

<center>![](https://i.imgur.com/3pNMu86.png)
[Source](https://upload.wikimedia.org/wikipedia/commons/f/f4/Satellite_dish_%28Television%29.jpg)</center>

•	Satellite dish – 45 centimeters (Your TV satellite)
•	Personal computer or hardware such as Raspberry Pi
•	Open-source software like GNU Radio for radio connection

[Find more information about the equipment needed here.](https://github.com/blockstream/satellite)

While users will be able to run a full-node, the only caveat at this point is the need for an Internet connection to make Bitcoin transactions. 

*But Back explained that this is done  via an SMS.*

**USD100** *is all you need to spend on the equipment needed to connect your computer to the Blockstream Satellite, according to the company.*

With more than half the people in the world not having internet connection, and others having to pay exorbitant amounts for internet access, Blockstream’s satellite broadcast opens up a world of opportunities to use Bitcoin, for people living anywhere in the world. 

# Blockstream Satellite Network Beta
 
The beta is currently open to people from *North America, *South America, Africa and Europe*. Wherever you are in these regions, you can now join the beta and download a *fully functional* Bitcoin node. 

Can there be a more secure place for your Bitcoin than several miles above the earth?

# About Blockstream 

<center>![](https://i.imgur.com/4IVjoC9.png)
[Source](https://upload.wikimedia.org/wikipedia/commons/e/e9/Blockstream.jpg)</center>

Blockstream, known to be one of the biggest funders for Bitcoin Core, boasts of several big names in Bitcoin circles, including many prominent bitcoin developers. 

It is a FinTech company that works to provide blockchain applications. They offer both software and hardware solutions for the deployment of blockchain-based networks.

Some of their most popular initiatives include: Bitcoin Core, Elements Project, Lightning Network, Confidential Assets and Hyperledger among others. 


The company was co-founded by Adam Back, Austin Hill, Gregory Maxwell and others. In the forefront, is Adam Back, as the CEO and Gregory Maxwell as the Chief Technical officer. 


# Conclusion

While there is a general sense of excitement over a Bitcoin transaction in space; some feel Blockstream is doing nothing earth shattering. 

They say it's a lot cheaper to beam solar power in blocks from space to Earth, than as electricity.

A similar project was attempted by BitSat in 2014 by Bitcoin Core developer Jeff Garzik, but he later suspended the project.  [On Reddit](https://www.reddit.com/r/btc/comments/6tudl7/blockstream_satellite_is_broadcasting_the_bitcoin/), he speaks about Blockstream’s satellite network as a *centralization* of the Blockchain.

Space-age mining comes with many advantages and there are many satellite systems competing in this area. So we may witness a lot of cryptos flying in space.

---

*Would you be doing a Bitcoin transaction in space anytime soon? Is that beta for you? Your thoughts are important to us.*

---

Author: @knowledge1
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 139 others
👎  , , , , , ,
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@alijavaid ·
pleas send me 0.002 bitcoin in my wallet address pleas help me

![download.jfif](https://steemitimages.com/DQmeSfytLYw79NvnY1NJXAzb9RT1TFzXLCiEDPU1UDDuBkp/download.jfif)
my wallet address
1MZyQWNbQj7F55hxGdbMfZu9T8tDtvnME1
pleas send me i am very upset pleas help
me
👎  , ,
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vote details (3)
@andr1an0 ·
$0.02
As the cost of many internet connectivity options throughout the world is often based on how much data is transferred, running a full Bitcoin node can be an expensive venture. Until now…

Blockstream Satellite eliminates these cost barriers and enables people to receive blocks at no cost allowing more people to utilize Bitcoin and participate in the Bitcoin network.

I.e, if bandwidth is expensive you are not incentivized to run a full node. In this way to sync your node via the satellites and pay for bandwidth when broadcasting transactions.

Also in case govts try to censor btc and cause partitions you can detect this via the data collected from the sats.
Blockstream Satellite provides an alternative method of receiving the blockchain that is not affected by connection failure. This protects against network interruptions and prevents any participating node from becoming isolated or partitioned.
👍  
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@arie.steem ·
Nice @adsactly good information for us 
Thank you...
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@asif4745 ·
Owasom
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@barca ·
we have blockchain and now blockstream
its Amazing , thank you for sharing
👍  
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vote details (1)
@bikalsiwakoti ·
Yes bro Bitcoin price is going to the moon. I think it will goes to 6000$ next month. Awesome post rediclous.
Great @adsactly
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@bof ·
Seems like a marketing stunt
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@chatman ·
This will come in handy in places where government restrict internet like Cuba and North Korea! Exciting times ahead.
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@chazapanta ·
So informative! Hopefully the blockchain beta will reach users from ASIA and will be able to download the fully functional Bitcoin node
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@cheeto.blue ·
$0.63
Wow!! That's amazing!! Would love to see this working :) Great for really remote areas...
👍  
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@cloudspyder ·
This is a whole new revolution of crypto world. I hope not only BTC, but all crypto's will benefited with the blockstream satellite network.
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@coinlend ·
$0.89
test title
Hi adsactly,
Nice work sir
👍  ,
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@balkrishna ·
Get yourself 50 FREE tokens!!! For the new exchange on October WCX offers a pro experience with 10x lower fees guarantee https://wcex.co/?ref=MPCIbEPD
👎  
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@cornholio ·
Run as you may! You cannot escape...the Almighty Bunghole!
👎  
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vote details (1)
@mralan ·
It's so exciting to have Bitcoin satellites in space. The announcement alone drove up the price.
<a href="https://www.youtube.com/c/mralanc?sub_confirmation=1">
Wow, I can't believe Bitcoin made it onto Family Guy. To bad its a skit where Peter makes it sound like an awfule "Peter" type of idea. Lol
<img src="https://steemitimages.com/0x0/http://i67.tinypic.com/zxjzt5.png"/></a><a href="https://www.youtube.com/c/mralanc?sub_confirmation=1"><img src="http://i67.tinypic.com/2d6wffo.jpg"/></a><a href="https://twitter.com/alan_craker"><img src="http://i68.tinypic.com/6olafq.png"/></a><a href="http://steemit.com/@mralan"><img src="http://i67.tinypic.com/syl27a.gif"/></a><img src="http://i68.tinypic.com/23hufzs.png"/>
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👍  
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@superpako ·
look my post 
https://steemit.com/cryptocurrency/@superpako/waves-plataform-and-lease-cryptocurrency
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@cryptoknight12 ·
what if the bitcoin satellite gets hit by space trash and xplodes?
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@danpaulson ·
$0.02
If you are gonna reach the moon you gotta go through space.
👍  
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vote details (1)
@knowledge1 ·
Good point. I meant to say that it's not just the price, but the coin itself is on it's way. :)
👍  
properties (23)
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vote details (1)
@danpaulson ·
I was kinda kidding. I like the dual meaning. :)
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@danzy ·
WOW !!
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@dobartim ·
https://steemit.com/money/@dobartim/how-did-i-earn-from-usd-40-79-btc-for-8-months
properties (22)
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@dr00min ·
It's so excellent that I might just build one anyway.

I've got plenty of internet but what the heck!
properties (22)
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@elmaghrabi ·
https://steemit.com/steam/@elmaghrabi/a-new-investment-site-working-in-the-currency-trading-forex-and-gold-market
properties (22)
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@fahq ·
Thanks for sharing this.. Ill have to look at it closer later on. Followed Upped & Resteemed.
properties (22)
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@faissalchahid ·
Beautiful love you and love your publication
properties (22)
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@flatrider ·
Haha! That's funny and cool. :-D
properties (22)
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@grwnazzkid ·
wow we going way past global 

https://steemitimages.com/0x0/https://68.media.tumblr.com/ecd76d032ef7cb31ffb04c9f3ff512ef/tumblr_ofcphzYAeA1u98oboo1_400.gif
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@heretickitten ·
Ahaha, quite fascinating.

I'd love to see that satellite operate more than just a Bitcoin blockchain.

And I'd love to see more satellites with blockchains and data up there!
properties (22)
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@hilekaan ·
the beauty of crypto-currency is the fact that it plays by no rules set by some high placed personalities to cause artificial inflation, devaluation and stagflation. The Cryptos have come to set the record straight and make adjustments  in the balance of inequality amongst people and nations. The Crypto world is actually Adams Smith's postulation/theory come to life - the workings of the 'invisible hand"  No one understands how the Cryto world actually works but the massive acceptance by many and still gaining momentum is really amazing. As for me I'm down with it and open minded but I know I still have alot of education to do with my African people to come on board; cause for them they dont believe what they dont see.
👍  
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vote details (1)
@hms818 ·
$0.42
Another feather in Bitcoin's cap.. Now aliens will also learn about Bitcoin...
👍  
properties (23)
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vote details (1)
@hossainsohag ·
![U5dtE1TSZgC1z4HSJ8RTNXcr7ukm2QX.gif](https://steemitimages.com/DQmNx8BnMXM8YnToxyhRRZXKgECapdSeRDXVHitwL7sLZKM/U5dtE1TSZgC1z4HSJ8RTNXcr7ukm2QX.gif)
















It's amazing
properties (22)
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@isfar ·
i like your post
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@izbing ·
OMG it gets so serious. I can't believe it 🤑
properties (22)
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@jinhyui ·
$0.29
It's amazing
👍  , ,
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vote details (3)
@hashrajan ·
distant drums sound melodious.  This crypto currency  is very fragile. who controls (Unknown) no rules and regulations.. The hype could go high and low and what is the mechanism working behind it is strange..
properties (22)
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@sanjib ·
you are right.it's really amazing.
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@karunbharmoria ·
Great post! Keep it up.
properties (22)
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@macneo ·
It's amazing
👍  
properties (23)
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vote details (1)
@murizalalhabsyi ·
Please follow my steemit and cooperation. I thank you very much
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@nasrud ·
Wow this is really new I want to mendalaminya
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@niceviewsua ·
Will follow back and upvote, please resteem this good news 🙂
SEGWIT Activeted !
https://steemit.com/bitcoin/@niceviewsua/segwit-activeted
https://steemitimages.com/0x0/https://bits.media/images/news/000817/240817_segwit-activated_0.png
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@nomanijaz ·
Nic Post and Every time i see your post, i always feel happy and happy. and I Follow u and U Follow Me
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@oneandonlytom ·
$0.03
Now we can say that the government is powerless... unless they will put us in some kind of bowl (like in the Simpsons movie :D )
👍  , ,
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@hashrajan ·
It is effective as long long as there is a perception that the Governments are playing with the currencies. But crypto  is also very fregile as well. It is not backed by rules and regulations.
It should be legitimized
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@knowledge1 ·
Great comment! That gave me a good laugh.  :)
👍  
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vote details (1)
@sarahsarah ·
Nice
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@shello · (edited)
That's actually pretty ridiculous, but I mean in a mind-blowing kind of sense. One of the aims of Bitcoin was to easily send currency to anywhere in the world. You make a great point that developing countries would be able to send funds without a net connection and in that way- it's very useful. 

My take differs a bit however. I would imagine that there would eventually be competition by different companies similar to what we see with exchanges now. Although it sounds like an amazing concept, I feel that the people who invest are more likely to be the people that need this technology. What about becoming dependent on it? And what happens if one company has to close?

The investments to buy the hardware would be $100. Would the hardware work for other BTC sending satellites? This is an interesting post.
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@siddartha ·
Wow, it sounds so unbelievable, yet amazing.  But aren't satellites mainly operated by govt and they are mostly against the Bitcoins. So will it work?
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@sinta ·
Good post
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@space-man ·
Hello, you are doing Amazing Work, keep it up... :) Enjoy your time here in Steemit... It's a great community! ** I am an new user, still in learning stage...  I am following your account, can you please also follow me at @space-man ?

From: https://steemit.com/@space-man      --- Best Regards
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@srtechtube ·
I just now readed your content.It's  excellent  content  .
This post received a 😊😊 11.8% upvote from @srtechtube
<a href="https://steemit.com/life/@srtechtube/life-quotes-06-life-lesson#"><img src="http://cdn.kikakeyboard.com/gif_partnerChina_Boy/9.gif" alt=""/></a>
 thanks to @adsactly! ,
 <a href="https://steemit.com/life/@srtechtube/life-quotes-06-life-lesson#"><img class="animated bounce infinite" src="https://i1.wp.com/freepngimages.com/wp-content/uploads/2016/12/click-here-information.png?fit=469%2C220"></a>
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</a>
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@steem2themoon ·
$0.03
And since a couple hours seg witness got implemented :)yeah
👍  
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vote details (1)
@stefanarnaut ·
wow, that is only good news
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@taministy ·
Hello @adsactly

I hope you enjoy your time here, a great community! Good post, good luck! (Remember to follow me 😜)

Traffic yang luar biasa kawan, selamat kepada anda.
Dan terima kasih telah berbagi informasi tentang traffic anda yang menjadi semangat bagi saya untuk bersaing dengan
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@tech92 ·
This is so powerful and shows that governments can't stop BTC ever now because even if they censor the internet or even cut the internet all together they can't stop the blockchain... imagine the possibilities - think North Korea, Myanmar, rebel controlled areas in some countries...
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@wurp ·
$0.02
This all sounds very cool and all but why oh why are we >>>leasing<<< the damn satellites???
👍  ,
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vote details (2)
@knowledge1 ·
Blockstream leasing satellites has become a topic for discussion in many groups. Here is a [link](https://www.reddit.com/r/btc/comments/6tuuji/blockstream_has_not_launched_any_satellites_nor/) to some interesting opinions.
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@yunkard · (edited)
I love this post Knowledge!such a good write up...... 

:Shrey :P
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@knowledge1 ·
haha this is you, Shrey? Thanks a ton. :)
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@yunkard ·
I am everywhere :P
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