The Satoshi Project has had a very good week, with the completion of nine contribution rounds since our last weekly review blog post. Rounds 52 through 60 reached maturity, paying our contributors a 120% payout in each round.
Topics covered in this review:
- New, clear funding targets
- Completing round 63
- When will contribution rounds end?
- Get notified of bitcoin payments
Clear Funding Targets
Up until now, the Satoshi Project has sent payouts on an open schedule. Each round was paid out whenever it reached maturity. Starting now, we are creating clear funding targets for each round. This links maturity to funding in a more direct way. This new schedule will help our contributors know when rounds will reach maturity with more certainty.
At the time of this writing, contribution rounds 61 and 62 are maturing, while round 63 is funding. This current situation represents the new funding schedule from now, until the Satoshi Project completes funding: One round will always be funding while two rounds are maturing.
Therefore, in the current situation, when round 63 completes funding, round 61 will be paid out. Then, when round 64 completes funding, round 62 will be paid out, and so on.
Completing Round 63
The move to the new funding schedule will likely cause a delay in the payout of round 61. The length of this delay is up to you, our users. It could take a week, it could take a day, or it could be mere hours.
All that is needed for round 61 to pay out is for round 63 to complete funding. If you want to help round 61 pay out more quickly, you can…
- Contribute to the funding of round 63, or
- Share the Satoshi Project with new people who will contribute to round 63.
We have had hundreds of contributors who have received 120% payouts from round 1 through round 60. If you have received a payout, please invite people you know to participate in the Satoshi Project. Also, please consider contributing to round 63 if you can. When round 63 completes funding, we will be on track with the new funding schedule.
When will Contribution Rounds End?
At this time, we expect to finish 100 contribution rounds before the Satoshi Project is fully funded. When fully funded, the Satoshi Project will move to the next stage — converting VirtaPay into a decentralized crypto-currency. All VirtaPay users will receive a share of this crypto-currency based on their VirtaPay account balance. You can get a bigger share of the new crypto-currency by contributing to the Satoshi Project.
Get Notified of Bitcoin Payments
When you receive a bitcoin payment, you can be notified by: email, SMS text message, Google Talk or Skype. To set up bitcoin payment notifications, just follow the directions at the top of this page. This notification service is provided by, and requires an account with Blockchain.info. You do not need to share your private keys to use this service!
Note: Blockchain.info is not associated in any way with VirtaPay.