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Bitcoin Trader Chad Elwartowski Floating House Destroyed by Thai Fleet

An American bitcoin trader who built a floating home off the coast of Thailand in an attempt to develop an autonomous shipping community faces a possible death sentence, the authorities say. Chad Elwartowski's floating home and his girlfriend, Supranee Thepdet, were landed by Thai authorities on Monday and the couple have been accused of violating Thai sovereignty, Sky News reported. This crime can bear either the death penalty or life in prison in Thailand. Elwartowski's Thai visa has also been revoked. Read more: Silicon Valley's dream of a floating, isolated city may actually happen "The couple was announced on social media explaining their autonomy beyond the jurisdiction of some courts or laws in some countries, including Thailand , "Admiral Vithanarat Kochaseni told reporters, according to Reuters. "We see such a measure that impairs Thailand's independence," he said. The couple built floating homes &#821 1; located around 14 miles outside the Phuket holiday island – to test the profitability of creating a floating community in international waters, which would not be subject to national law. Elwartowski and Thepdet's "seastead" in a photo taken on Monday. The whereabouts of the parties is currently unknown. Reuters / Stringer Thailand's marine had been considering removing the home, sometimes called a seastead, for several days, but had concerns about removing it without destroying it, according to Reuters . Neither Elwartowski nor Thepdet were in floating homes when the authorities arrived to remove it, Sky News reported. Their accommodation is currently unknown, although the authorities say…

An American bitcoin trader who built a floating home off the coast of Thailand in an attempt to develop an autonomous shipping community faces a possible death sentence, the authorities say.

Chad Elwartowski’s floating home and his girlfriend, Supranee Thepdet, were landed by Thai authorities on Monday and the couple have been accused of violating Thai sovereignty, Sky News reported.

This crime can bear either the death penalty or life in prison in Thailand. Elwartowski’s Thai visa has also been revoked.

Read more: Silicon Valley’s dream of a floating, isolated city may actually happen

“The couple was announced on social media explaining their autonomy beyond the jurisdiction of some courts or laws in some countries, including Thailand , “Admiral Vithanarat Kochaseni told reporters, according to Reuters.

“We see such a measure that impairs Thailand’s independence,” he said.

The couple built floating homes &#821

1; located around 14 miles outside the Phuket holiday island – to test the profitability of creating a floating community in international waters, which would not be subject to national law.

Elwartowski and Thepdet’s “seastead” in a photo taken on Monday. The whereabouts of the parties is currently unknown. Reuters / Stringer

Thailand’s marine had been considering removing the home, sometimes called a seastead, for several days, but had concerns about removing it without destroying it, according to Reuters .

Neither Elwartowski nor Thepdet were in floating homes when the authorities arrived to remove it, Sky News reported.

Their accommodation is currently unknown, although the authorities say they are probably still in Thailand, the network adds.

However, the couple have issued a statement calling Thailand’s quest for them “ridiculous”.

“This is ridiculous … we lived on a floating houseboat for a few weeks and now Thailand wants us to be killed,” said the couple, according to Sky News. “We are still quite afraid of our lives.”

“We didn’t think we were doing anything wrong and thought it would be a great advantage for Thailand in so many ways,” they added.

“I [Elwartowski] believe that my lawyer can come to a friendly agreement with the Thai government.”

Read more: A pilot project for a new libertarian floating city will have 300 homes, own government and own crypto competition

“You can demolish the seaside, but you cannot tear the knowledge that was achieved” [19659019] Elwartowski and Thepdet “seastead” were part of an experiment led by the Seastanding Institute, a group founded by Peter Thiel, the Silicon Valley billionaire behind PayPal.

The organization describes itself as “a non-profit tank tank that promotes the creation of floating seas as a revolutionary solution to some of the world’s most pressing problems.”

“They showed that a single-family seastad can flow stably in international waters for less than the cost of the average American home,” said Joe Quirk, president of the Seasteading Institute, according to Sky News.

“You can tear the seaside, but you can’t tear the knowledge that was obtained.”

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