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Title: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: Fattcatt on March 22, 2018, 05:21:00 PM 【IMPORTANT NOTICE】
Hello everyone, It is with painful regret to announce, the closure of Satori Coin sales as of immediate effect. The reason is as per below. Basically, we ran out of time to raise our AML/KYC standard according to the level in which Japan's Financial Service Agency demanded. ------------------------- On April 23, 2018, Raimu Inc. must terminate the virtual currency exchange business. Fulfillment of obligation to bear in connection with the exchange of virtual currency, conducted as virtual currency exchange business prescribed in Article 63-20, paragraph 5 of the law concerning money settlement has been completed. There is no customer property that needs to be returned or relocated to the customer. This is a public notice pursuant to the provisions of Article 63-20, paragraph 3 of the Act on Financial Settlement. ------------------------- I want to thank everyone around the globe for supporting Satori Coin. This project was intended to accelerate the spreading of the power of Bitcoin, the inherent human right to freely exchange and hodl "our" wealth, at will. We will however, continue our mission. Our website will stay live and cater to any issues and concerns raised toward Satori Coin users. We have recently commissioned another documentary film, "Bitcoin: Beyond The Bubble". Simultaneously, we are working on vending machines that can accept Bitcoin / Bitcoin Cash. Their debut is imminent. More projects are in line. It has been an honor and a privilege to have been associated with so many passionate individuals in the crypto currency space and we want to continue this into the future. Satori Coin will be absent for a while, but only temporarily. It will take many months, but we will make another attempt to obtain the license. "I'll be back". March 22, 2018 Moto Kan Director Satori Coin Team 5769-9 Sumiyoshi Suzuka, Mie 513-0825 Japan Tel +81-593-78-6648 info@satoricoin.jp https://nam04.safelinks.protection.outlook.com/?url=https%3A%2F%2Fsatoricoin.jp%2Fen%2Fsales.php&data=02%7C01%7C%7C5f6528ba647b40ec2bb508d58fb860da%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C636572944415455581&sdata=dO1wMr%2Bk%2BW7rgvzr%2FjzL23fSigwYShpEF77W0%2BX2FMc%3D&reserved=0 Title: Re: Satori IS CLOSING IMPORTANT NOTICE Post by: krogothmanhattan on March 22, 2018, 05:28:49 PM Tooo bad...these were great chips IMO.
Makes me want to HODL mine even more ;) Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: tothemoonsands on March 22, 2018, 09:39:57 PM Well seemingly, they will be back in some fashion or sorts once they obtain the proper licenss/permits as per the location/government. And also, they have just a month before they actually have to cease "sales".... so who know, maybe we them to make 1 last roll for everyone... lol :D Unfortunately it seems they have chosen to halt sales immediately rather than wait until their April deadline as they stated: "It is with painful regret to announce, the closure of Satori Coin sales as of immediate effect." I am optimistic that they will come back because of Moto's words, but my gut instinct tells me that it will be hard for them to start up again with all of the proper licensing which probably costs hundreds of thousands if not millions to get. Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: JUPITYR on March 23, 2018, 12:27:43 AM Yeah, but haven't they said all of this before? Something tells me they will be back soon.
Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: krogothmanhattan on March 23, 2018, 01:43:01 AM Yeah, but haven't they said all of this before? Something tells me they will be back soon. They did say this before, but if I remember correctly, it had to do with network/transaction fees and it being cost effective to load the chips.... ??? Now that bitcoin tx fees have come back down to cents, it would now be feasible to load them again if that was the case. Right on MJ...that was what Moto told me in his email a few weeks back. Now it must be a more serious matter that caused them to shutdown Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: chronicsky on March 23, 2018, 04:10:13 AM Ah thats a big bunmer to see them go.
Yeah, but haven't they said all of this before? Something tells me they will be back soon. They did say this before, but if I remember correctly, it had to do with network/transaction fees and it being cost effective to load the chips.... ??? Now that bitcoin tx fees have come back down to cents, it would now be feasible to load them again if that was the case. Right on MJ...that was what Moto told me in his email a few weeks back. Now it must be a more serious matter that caused them to shutdown Yeah unlike last time, its law this time.. And when he says "I'll be back" He might mean about the other stuff he is working on ? Regardless of that, whatever he comes back with am sur3 will be good ~Sky Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: bavicrypto on March 23, 2018, 05:11:34 AM That’s very unfortunate. I was really looking forward to their next release, which unfortunately never came out. Well, in the end that will make their orange, shiny, chips even more collectable than they were already before :)
Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: monkeynuts on March 23, 2018, 10:30:12 AM I hope Satori dont stop completely, and it is just a break
There is definately a gap in the market (and demand) for low denom, none metal, high quality tokens Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: BitcoinNewsMagazine on March 23, 2018, 02:06:07 PM Same here but I would not hold my breath. They appear to be moving on to vending machines that can accept Bitcoin.
Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: wheelz1200 on March 23, 2018, 02:12:57 PM I hope Satori dont stop completely, and it is just a break There is definately a gap in the market (and demand) for low denom, none metal, high quality tokens Agreed, i thought they were a solid option. Liked the ability to get rolls of loaded coins at a cheap price. Great entry for new people too, casascius, etc are too much for new entrants. Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: Gatorelf on March 23, 2018, 02:21:49 PM Same here but I would not hold my breath. They appear to be moving on to vending machines that can accept Bitcoin. yep I think originally any way the idea was vending machines throughout Japan vending .50 cent worth of btc for fiat filling a quick demand for not only a physical coin but just owning btc. So now days as we know things changed rapidly and as a business they have to evolve to change. Probably have many more ideas such as different colors for different years in the future plus denomination change. Might even see a MONA satori chip in future vending, wouldn't that be cool ! One thing is for sure, where there is a demand someone will meet it with supply :) I love the name Satori and hope they do continue Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: JUPITYR on March 23, 2018, 02:36:55 PM Interestingly enough Japan has been one of the most "crypto-friendly" governments to date. So bit of an odd move by them recently. We've seen other countries go back and forth on their stance in the past. Hopefully Japan will do the same and take the shackles off to allow Satori to continue to produce these fine tokens.
Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: Gatorelf on March 23, 2018, 02:51:34 PM Interestingly enough Japan has been one of the most "crypto-friendly" governments to date. So bit of an odd move by them recently. We've seen other countries go back and forth on their stance in the past. Hopefully Japan will do the same and take the shackles off to allow Satori to continue to produce these fine tokens. yes :) JFS must follow current regulations and I think its just a matter of these changing in time to benefit Satori and the entire financial structure. Japan is so cool I just want to live there a while lol Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: BitcoinNewsMagazine on March 23, 2018, 02:54:00 PM Will have to be another country than China or Japan. BTCC already gone and Satori speculatively shutting down due to high cost of meeting Japan's AML/KYC requirements. What are the bitcoin friendly countries with the manufacturing capability for chips already in place? There is a void to be filled some entrepreneur may step up to the challenge.
Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: krogothmanhattan on March 23, 2018, 03:02:58 PM Will have to be another country than China or Japan. BTCC already gone and Satori speculatively shutting down due to high cost of meeting Japan's AML/KYC requirements. What are the bitcoin friendly countries with the manufacturing capability for chips already in place? There is a void to be filled some entrepreneur may step up to the challenge. Could be done in the USA, but I think most people don't want to deal with the headaches and red tape of getting MSB licensing in 50 states+ other countries. And manufacturing could be done anywhere/any country... just ship the chips over and they could be assembled/loaded here in USA Load it with Roocoin! :D Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: Gatorelf on March 23, 2018, 03:07:41 PM Will have to be another country than China or Japan. BTCC already gone and Satori speculatively shutting down due to high cost of meeting Japan's AML/KYC requirements. What are the bitcoin friendly countries with the manufacturing capability for chips already in place? There is a void to be filled some entrepreneur may step up to the challenge. Australia may get on board they seem to be pretty crypto friendly with the government funding some projects. also Satori isn't the only one under the watchful eye of the FSA Binance has received a formal warning from Japan’s Financial Services Agency (FSA) for operating in the country without registering with the regulatory agency as a cryptocurrency trading platform. In a letter dated March 23 and addressed to Binance CEO Changpeng Zhao, the FSA warned the exchange operator to cease operating in Japan without a license. moving to Malta I hear Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: krogothmanhattan on March 23, 2018, 03:21:01 PM Will have to be another country than China or Japan. BTCC already gone and Satori speculatively shutting down due to high cost of meeting Japan's AML/KYC requirements. What are the bitcoin friendly countries with the manufacturing capability for chips already in place? There is a void to be filled some entrepreneur may step up to the challenge. Australia may get on board they seem to be pretty crypto friendly with the government funding some projects. also Satori isn't the only one under the watchful eye of the FSA Binance has received a formal warning from Japan’s Financial Services Agency (FSA) for operating in the country without registering with the regulatory agency as a cryptocurrency trading platform. In a letter dated March 23 and addressed to Binance CEO Changpeng Zhao, the FSA warned the exchange operator to cease operating in Japan without a license. moving to Malta I hear They are welcome with open arms to MALTA as per the following http://fortune.com/2018/03/23/binance-bitcoin-exchange-cryptocurrency-malta/ Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: Ticked on March 23, 2018, 03:57:30 PM Lads, threads like this is the real news, sincerely, thank you.
Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: AT101ET on March 23, 2018, 04:47:32 PM Not entirely sure on the regulation but pretty sure something like this could be operated in the UK rather easily.
Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: Gatorelf on March 23, 2018, 04:49:03 PM Lads, threads like this is the real news, sincerely, thank you. haha well college football is over for now sooooo bitcointalk Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: Fattcatt on March 23, 2018, 08:52:59 PM Whatever Yoshi & Moto do, I wish them all the best! :)
Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: ChiBitCTy on March 23, 2018, 10:57:02 PM Will have to be another country than China or Japan. BTCC already gone and Satori speculatively shutting down due to high cost of meeting Japan's AML/KYC requirements. What are the bitcoin friendly countries with the manufacturing capability for chips already in place? There is a void to be filled some entrepreneur may step up to the challenge. All someone has to do is move to some remote island where anything flies...the ones where all the online casinos operate out of etc. Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: killyou73 on March 23, 2018, 11:32:06 PM Will have to be another country than China or Japan. BTCC already gone and Satori speculatively shutting down due to high cost of meeting Japan's AML/KYC requirements. What are the bitcoin friendly countries with the manufacturing capability for chips already in place? There is a void to be filled some entrepreneur may step up to the challenge. All someone has to do is move to some remote island where anything flies...the ones where all the online casinos operate out of etc. Is there any unclaimed left in the world? Maybe we can start our own country Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: vasrasus on March 23, 2018, 11:36:33 PM So this means that all satori rolls will increase the price? I'm glad I bought some of it and it is a very good investment. Is my thoughts is right?
Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: BitcoinNewsMagazine on March 24, 2018, 02:46:43 AM So this means that all satori rolls will increase the price? I'm glad I bought some of it and it is a very good investment. Is my thoughts is right? Already increasing in price. A few months ago you could get a roll for 0.035 in a group buy and one auctioned yesterday for 0.102. Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: tothemoonsands on March 24, 2018, 03:05:45 AM So this means that all satori rolls will increase the price? I'm glad I bought some of it and it is a very good investment. Is my thoughts is right? Already increasing in price. A few months ago you could get a roll for 0.035 in a group buy and one auctioned yesterday for 0.102. I think it is important to clarify that there is no guarantee Satori rolls will continue to increase in BTC value. As long as Satori is no longer producing, I would say USD value increasing is all but certain. But value based in BTC certainly will fluctuate because, for instance, if BTC quickly jumps to $20k+, will Satori remain at 0.102? Possibly, although it is more likely that it would take a hit and be worth less in BTC. It's also worth mentioning that due to the rapid interest in Satori rolls, we may see more rolls for sale as sellers try to maximize how much they receive per roll. As more rolls enter the market, it is possible that either demand will continue to push value higher OR supply could start to exceed demand and value could taper off a bit. In short, hard to say! Long-term though no doubt Satoris have a very substantial contribution to this space, and the value will reflect that accordingly. Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: BitcoinNewsMagazine on March 24, 2018, 03:14:14 AM Of course there are no guarantees in life but I would put Satoris away for the long term. I expect them to appreciate like Kialaras.
Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: tothemoonsands on March 24, 2018, 03:22:09 AM Of course there are no guarantees in life but I would put Satoris away for the long term. I expect them to appreciate like Kialaras. Oh yeah, agreed!! Satori is right up there with the best of them! Just had to express to other potential collectors getting into the space that in terms of maximizing BTC as an investment vehicle, collectibles have their risks/limitations. As does everything though, it's just that as the value/premium gets further decoupled from the actual BTC value loaded on the collectible, the risks can become greater. Satori has always been a shining example of a collectible with one of the lowest premiums, and I hope that if/when production can resume, they can continue to illuminate that path of affordable collectibles that push mainstream adoption into reach. Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: ZipReg on March 24, 2018, 04:25:17 PM Wow... Sorry to hear this, hope they managed to recover their BTC from the payment processor who had it tied up.
I think it's worth noting that if 50,500 is the total number, it isn't really that many when broken down into rolls of 25 chips. That works out to only 2020 rolls in total. Imagine how many of the chips were sold directly as singles, then imagine how many were sold as rolls but were broken up into singles to be sold or given away. I wouldn't be surprised if there were less than 1000 full satori rolls in existence as of right now... Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: CoinBimBop on March 27, 2018, 04:38:01 AM That's too bad. I'm really glad I won that auction from LesbianCow for 5 of their series 1 chips & a signed poster now. I did eventually want a roll though. This is sad news. Those are some high quality chips. They're really nice.
Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: wolfcoin2 on March 27, 2018, 09:33:02 AM Of course there are no guarantees in life but I would put Satoris away for the long term. I expect them to appreciate like Kialaras. Is that a good thing? I could be wrong but I feel kialaras have been on a steady decline in value for the past few years in both btc and usd.. i have some that i feel arent worth what they were last year or the year before, especially the goldie.. but I would love to be wrong!! Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: BitcoinNewsMagazine on March 27, 2018, 02:40:38 PM Of course there are no guarantees in life but I would put Satoris away for the long term. I expect them to appreciate like Kialaras. Is that a good thing? I could be wrong but I feel kialaras have been on a steady decline in value for the past few years in both btc and usd.. i have some that i feel arent worth what they were last year or the year before, especially the goldie.. but I would love to be wrong!! You make a valid point the market for some Kialaras is soft right now. It will recover. Take a look at the auctions for the 20 limited Kialara Labyrinth (Ruby edition). Also #12 Original just sold for $1234 (cost $99.) Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: CoinBimBop on March 28, 2018, 03:06:02 PM I wish I had more freed up btc because I would buy one of those ruby labyrinths. I'd be willing to trade one of my funded .1 series 1 silver lealana's for it.
Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: BitcoinNewsMagazine on March 28, 2018, 03:10:48 PM I wish I had more freed up btc because I would buy one of those ruby labyrinths. I'd be willing to trade one of my funded .1 series 1 silver lealana's for it. I imagine anyone lucky enough to win an auction for a ruby labyrinth will be holding long term:) Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: BookofNick on March 31, 2018, 08:14:44 PM Of course there are no guarantees in life but I would put Satoris away for the long term. I expect them to appreciate like Kialaras. Is that a good thing? I could be wrong but I feel kialaras have been on a steady decline in value for the past few years in both btc and usd.. i have some that i feel arent worth what they were last year or the year before, especially the goldie.. but I would love to be wrong!! Really? I've never seen what I consider a reasonable price for a Kialara Gold - if anyone has one to sell, I'm open to PMs. ;D Title: Re: Satori IS***** CLOSING***** IMPORTANT NOTICE !!!!! Post by: killyou73 on March 31, 2018, 08:29:54 PM Of course there are no guarantees in life but I would put Satoris away for the long term. I expect them to appreciate like Kialaras. Is that a good thing? I could be wrong but I feel kialaras have been on a steady decline in value for the past few years in both btc and usd.. i have some that i feel arent worth what they were last year or the year before, especially the goldie.. but I would love to be wrong!! Really? I've never seen what I consider a reasonable price for a Kialara Gold - if anyone has one to sell, I'm open to PMs. ;D Could we attribute the decline in the kailara market to Tman not purchasing them anymore. Or not buying every single one that came up for sale |