Thailand’s Crypto Utopia — ‘90% of a cult, with out all of the bizarre stuff’ – Cointelegraph Magazine


The story of how a Bitcoin OG arrange a Libertarian crypto group and commune for digital nomads on lovely islands in Thailand thrice — and why he hasn’t but given up on the dream.

It’s a wild story involving “unchecked merrymaking,” crypto-influencers, police grillings, seasteading, a reported $20,000-a-month burn fee, rumors about shamans and medicines — and a serious collision between idealism and actuality. It was additionally, by all accounts, a complete lot of enjoyable.



Cryptopia grew to become the House of DAO, and a brand new model is deliberate.



The spectacular Cape Residences in Phuket, Thailand are a world away from the bohemian backpackers and Full Moon events of Koh Pha-ngan the place I’ve spent the previous few weeks researching Part 1 about crypto digital nomads residing in paradise.

If you’ve ever imagined how a Bitcoin OG lives, Kyle Chasse’s villa in all probability matches within the invoice, nestled in between residences housing members of the Royal Family of Dubai and early Apple buyers.

There are 4 automobiles within the driveway, together with an electrical BMW charging up. Chasse is an enormous pleasant bear of a person who greets me warmly and takes me on a tour of the seven-bedroom mansion the place most of the 85-strong Master Ventures crew does enterprise, from social media movies to planning investments and Paid Network launch pad tasks.

The beds are so massive you may get misplaced; there’s an indoor golf driving vary; and as we check out the out of doors entertaining space, Chasse flips a swap, and a waterfall begins pouring from an amazing top into the pool. “This is my favourite factor,” he says.

“This place is sort of a hub. Everyone comes right here, they’ve lunch, eat and speak and hang around, play basketball. We have film nights and dinner and stuff like that.”

This is the most recent — and most scaled-back — model of his dream to create a crypto commune for like-minded Libertarian dreamers. He’s tried twice earlier than on Koh Pha-ngan, as soon as on Coconut Island, and dabbled with setting it up as a part of the ill-fated viral Cryptoland undertaking the web mercilessly destroyed.





The first and, to date, most profitable model noticed Chasse and mates take over the Utopia resort on Koh Pha-ngan for eight months. “We had 35 villas and 70 folks,” he explains. “We modified it to Cryptopia in 2018.”

“I feel somebody mentioned that it was like 90% of a cult, with out all of the bizarre stuff.”



The boysTone Vays, Kyle Chasse and Didi Taihuttu on Koh Pha-ngan.



But regardless of high-profile residents and guests, together with Tone Vays, Willy Woo and Didi Taihuttu of the Bitcoin household, the entire thing fell aside with livid locals, police grillings and a nasty falling out between Chasse and his enterprise accomplice who noticed him fireplace your complete Master Ventures crew directly.

The Thai Board of Investments backed the following model, additionally deliberate for Koh Pha-ngan referred to as House of DAO, which was promoted with flashy movies and an impressive-looking web site earlier than operations moved to the 700-bed Coconut Island resort in Phuket.

The large thriller is why he moved out of Koh Pha-ngan — which Chasse has cherished since he was a younger backpacker — to the extra sedate Phuket?

Chasse explains that Phuket has much more infrastructure and transport hyperlinks, a much less transient inhabitants, and is a a lot better place to conduct enterprise. But he refuses to touch upon rumors I’d heard on Koh Pha-ngan that when the native authorities grew to become conscious {that a} bunch of rich crypto folks had arrange store, that they had began making all too frequent visits.

“A 12 months in the past, the cops began visiting ceaselessly, asking for ‘donations for covid aid,’” a former Utopia resident tells me. The potential for this to escalate scared the House of DAO away from Koh Pha-ngan: “Whereas Phuket is a wealthy space, so that they don’t stand out as a lot.”



Willy WooWilly Woo and Tone Vays featured in promotional photos.



Kyle Chasse’s story

Chasse grew up in Ventura County in California and by no means needed to dwell a traditional life. Instead of school, he spent months backpacking round Europe earlier than a good friend began emailing about how superb Thailand was.

“I simply had huge FOMO. I came visiting right here in 2004 and began in Bangkok,” he says. “And then to Koh Pha-ngan for the Full Moon Party, after which simply ended up island hopping for 5 weeks.”

He spent 9 months in Thailand on that journey and returned quite a few instances earlier than making it his house in 2018.

In between, he found Bitcoin by way of media protection of the legendary Silk Road. An everyday on the Bitcointalk discussion board, he began up his personal Bitcoin lottery in 2013, and by 2016, he had turn into a rich man. “Bitcoin hit 1,000 bucks every and, in my thoughts, like, ‘Okay, now I’m good. I’m by no means gonna should work once more in my life,’” he says.

“At that time, I type of took a little bit of a step again from hustling, and I grew to become very obsessive about simply adoption.”





People in the true world weren’t that wanting to take heed to Chasse extol the virtues of Bitcoin adoption, nevertheless. “I all the time felt very, very remoted. I used to be solely capable of speak to folks on-line,” he says. The exception was at crypto conferences the place everybody was on the identical web page:

“All of a sudden, you step right into a convention and even the town the place it’s being held, and now out of the blue, you’re feeling immersed in crypto, and it’s a extremely superb expertise and feeling.”

He grew to become hooked on the optimism and power of crypto conferences and would actually fly out to attend them in numerous locales each three to 5 days. “That was tremendous unsustainable,” he says. So, then I made a decision that I actually needed to have the ability to have that setting (at house).”

Instead of going to crypto conferences, why not carry the crypto group to him? He dreamed of making a crypto commune that digital nomads may work from, the place tasks could possibly be nurtured and incubated, and everyone may dwell and breathe crypto all day each day.

It could be a “mecca on the planet for crypto entrepreneurs to return to and that simply propagates all through the cryptoverse,” he says.

“I figured that if I felt this manner, there have to be different folks on the market that really feel this manner, too. And so, I appeared throughout Koh Pha-ngan for place to arrange.”



CryptopiaThe gang took over Utopia resort and renamed it Cryptopia.



The idea of the Crypto Utopia recollects the paranormal Beach from Alex Garland’s novel of the identical title — a mystical place that everybody desires to seek out, however as soon as they discover it, every little thing begins to collapse. Fittingly, the inspiration for the novel is claimed to be one of many seashores on Koh Pha-ngan.

Chasse has lengthy been a fan of seasteading. That’s the place you create a everlasting house base in worldwide waters with like-minded folks the place you are able to do what you want and create your individual little sovereign state. Libertarian Bitcoiners, particularly, love the idea and hold making makes an attempt to appreciate it, together with an deserted try to show a cruise ship into the MS Satoshi, and a Bitcoiner couple who arrange a floating house 15 miles off the coast of Thailand and declared their independence — solely to get hauled in by the navy and charged with violating Thai sovereignty.

Jessica Gonzales, who’s Chasse’s accomplice and chief advertising officer of Master Ventures, explains:

“The final objective of House of Dao is we’re going to be a small nation. We’re going to be our personal nation. That’s the place it’s going: micronation. And that’s our alliance with the Seasteading Institute.”

Chasse clarifies it’s not a proper alliance however says the fellows behind the institute have agreed to mentor them.

Given how tough it’s to make seasteading work in actuality — and who desires to dwell on an oil rig anyway — the island of Koh Pha-ngan that’s solely accessible by ferry appeared the following most suitable choice. A bohemian wonderland of days-long events, magic mushrooms and yoga enthused “non secular egoists,” the traditional guidelines don’t apply right here. At Full Moon Parties, they soak chains in petrol and set them alight to make use of them as large skipping ropes for drink and drug-affected vacationers to burn themselves on. So, it’s a complete heap of enjoyable, however you will get your self into severe bother.

“Koh Pha-ngan, it’s a bit extra of the wild west than it’s right here,” he says from the consolation of his Phuket villa. “You don’t actually ask for permission for something. You simply all the time assume that there’s gonna be some sort of charge it’s important to pay to any person.”



UtopiaThe view from Cryptopia



Chasse checked out each single resort and out there piece of land on the island. “If you’re eager about beginning a brand new authorities construction and having room to experiment with what that appears like… would wish privateness. And so, that was actually necessary to me.”

“And lastly, Utopia (resort) is the place I made a decision to do it as a result of it’s actually superb. We referred to as it Cryptopia on the time. You journey up this steep hill for some time and then you definitely’re in a type of lovely serene place.”

Perched atop the hill at Haad Thong Lang Bay with implausible views of the Gulf of Thailand, he made a deal to purchase the resort for 17 million baht (about $510,000 on the time), and took over 35 villas, paying for every little thing himself.

Reality bites

Unfortunately, in fact, Chasse admits he had no concept handle a resort. On the day all of the duties for the employees, utilities and every little thing grew to become his, the water went out.

“The water got here from a waterfall close by, and typically, an animal or one thing knocks the pipe out of the stream. And out of the blue, there was no water. So, it was an fascinating first day.”

Once a Bitcoin minerAvailable in any respect good ebook shops, and loads of unhealthy ones too.

Around 30%–40% of the Cryptopia residents had been on the Master Ventures payroll, however phrase unfold far and extensive, attracting high-profile guests, corresponding to Bitcoiner Tone Vays, on-chain analyst Willy Woo and Carl the Moon Runefelt.

There had been folks from China who ran the George Bush household fund, and to not point out “The King of Viral Media,” Dose media founder Emerson Spartz. Didi and the Bitcoin household, who stayed for months, he agrees to talk with me about it however then ghosts me for some motive.

“Just unimaginable folks got here via. Lots of people invited their households to return out, too, which was type of what I needed.”

One resident was writer and occasional Magazine contributor Ethan Lou, who described a really comparable sounding commune on a Thai island — however doesn’t really title Cryptopia — in his ebook Once a Bitcoin Miner. So, it was in all probability a completely totally different one.

“I lounged by the penis formed pool… During the incubator’s crazier days, folks used to have orgies within the water, I used to be instructed. The large boss who funded every little thing was an early Bitcoiner and had made a fortune, however he had little expertise — or even perhaps the desire or want — to run an incubator. People had come and gone, staying without spending a dime, indulging in unchecked merrymaking. At least as soon as, that they had allegedly introduced over a shaman. The ‘burn fee,’ what was wanted to keep up the amenities alone, was $20,000 monthly.”

Lou writes that he had deliberate to put in writing off his residency as a enterprise expense for tax functions however later realized he couldn’t level to a “single enterprise matter that arose from that journey.”

“The longer I stayed, there the longer I had no concept what I used to be doing on that island.”





Hard Forking founder Sean Stella stayed for months at Cryptopia and made a brief documentary about his time there.

“Didi gave me a name once I was residing in Singapore and mentioned, ‘Check this out.’ So, I jumped on the airplane the following day, met Tone Vays and Willy Woo on the airport, and all of us jumped in a taxi collectively and went up there and frolicked. I made friendships and connections via Kyle and what he was doing which have lasted to today.”

“I used to be there for 3 or 4 months, and it was implausible. It was a number of the most fascinating months of my life. He mainly took over a complete resort and financed the entire thing. I didn’t should put my hand in my pocket.”



PoolDoes this pool look penis-shaped to you?



Stella studies that loads of work was really accomplished and scotches the concept it was some kind of continuous celebration.

“There was actually enjoyable available, however no, it wasn’t,” he says. “The humorous factor with lots of the group was they weren’t drinkers. Very mental.”

Is {that a} euphemism for “everybody was microdosing LSD,” I ask him?

“Oh, I do not know,” he says with a smile. “Drugs are unlawful.”

Lou’s recollection of life on the resort was extra candid, and he writes of looking on the unimaginable sea view someday in marvel and the way “the remnants of Ecstasy, pace, mushrooms and LSD coursed via my system as I welcomed the daybreak.”

“I’ll always remember how, for a number of fleeting moments that day, the world appeared like perfection.”

Cointelegraph Magazine contributor Elias Ahonen was additionally a resident whereas writing his ebook Blockland. He means that the dosing that “might or might not have occurred was in all probability extra macro than micro.”

Of course, any drug use by guests was fully incidental to the purpose of the Cryptopia — it was extra simply a part of life on Koh Pha-ngan. As described in Part 1, the island is the type of place the place folks exit for one drink after which get up 4 days later in a area with a headache pounding in time to a hardcore psychedelic trance.

It’s enjoyable till its not: one digital nomad who lived elsewhere on the island instructed us of good friend and colleague who ended up getting so immersed within the non cease partying life-style that he had a psychotic break, they usually needed to rush him off for therapy earlier than he was deported. Another digital nomad mentioned they had been leaving the island, partly as a result of unfavourable features of the drug tradition.

Chasse says that whereas he doesn’t condone that side of life on Koh Phangan, he believes everybody has the suitable to do what they like with their very own our bodies.

“Like, I’m not going to guage you for that so long as you get your work completed,” he says. “Looking again, I feel whether or not we possibly we turned a blind eye to it, I feel possibly we’d have been, a number of the crew members might need been extra productive out of that setting. Because, , possibly they had been hungover at work or one thing like that.”

“I imply, positively on Cryptopia 1.0, that was an enormous downside.”

Ahonen, who managed enterprise operations for a short while, says he discovered the crew usually hardworking and impressive however says that the utopian desires of latest types of governance appeared extra trippy than anything.

“There had been appeals to a fantastical utopian future that wasn’t fully grounded in actuality, which is probably very true to the ‘crypto’ model.”

“Kyle had a imaginative and prescient of utilizing blockchain, decentralization and Libertarianism to rework the world’s primary organizational constructions — he as soon as appeared to counsel that I may maybe rule over a ‘non-public nation’ someday, when the brand new order got here.”

The beliefs of the crypto-Libertarian imaginative and prescient introduced some political tensions, because the imaginative and prescient of a community-run enterprise conflicted with the very fact Chasse was in cost, and most of the residents had been both his employees or tasks he was funding and serving to.

“I feel a part of it was my fault for deceptive folks in the best way that issues could be ruled there, I feel, possibly alluded somewhat bit an excessive amount of towards the truth that, like, I needed to transform this right into a DAO,” he says.

“I feel lots of people who went there with the concept, like, they might have important say in what would occur, however I needed folks to work on the issues that we needed to work on. So, this is the reason some folks left and a few folks stayed”



Master VenturesA pleasant drone shot from the House of DAO video.



How it ended

There are a number of totally different accounts of how Cryptopia fell aside. Stella thinks market circumstances and a disagreement over the resort’s possession had been accountable. Foreigners can’t immediately personal Thai actual property for one factor besides in a sophisticated setup via an organization sponsored by the Board of Investments.

“It was crypto winter. The value of Bitcoin plummeted, whereas I used to be residing there, and also you’ll should ask Kyle, however my understanding was he needed to purchase the resort, and it appeared to boil right down to a negotiation over the acquisition of it.”

Chasse says the “miscommunication with the proprietor… wasn’t dealt with in a civil manner.”

“He was clearly mistaken in making an attempt to promote me property he couldn’t promote me. But he was capable of have the police arrange in entrance of Utopia and finally come up and get me and take me to the station and query me and attempt to get me to signal a confession for one thing I didn’t do.”

“It didn’t shake me an excessive amount of. I don’t actually get too scared. But some folks left after that occasion occurred; some folks simply left Master Ventures altogether — they had been terrified. And a few of our core crew had been additionally fairly freaked out about it.”

He additionally had a nasty falling out with a “actually horrible” enterprise accomplice that led to the tip of not simply Cryptopia however that incarnation of Master Ventures, too, in early 2019.

“I fired your complete crew, like, a month earlier than I left Utopia. My accomplice was horrible and tried to take over the entire thing in a coup d’état, and so, I simply instructed Lex, the man who was serving to me on the bottom, to kick everybody out.”



Jessica and KyleJessica Gonzales and Kyle Chasse Source: Twitter



House of DAO

Six months later, he met Gonzales on a courting web site within the United States. She was attracted by his life’s objective.

“It’s fairly unconventional, proper?” she says over drinks of their spectacular lounge, a world away from Koh Pha-ngan.

“He needed to rework the world with cryptocurrency as the best way, and I’ve all the time identified my entire life, my dad and mom instilled this into me since I used to be somewhat woman mainly brainwashed me believing that I had an enormous function to play in serving to rework the world.”





They resurrected Master Ventures, launched Paid Network (which grew from a dispute decision service to additionally embody a crypto launch pad) and rebranded the crypto commune because the House of DAO.

The “blockchain good village” had an expensive-looking web site and slick video advertisements selling “Asia’s premier blockchain hub” the place:

“Blockchain startups from around the globe come collectively below one roof to speed up their decentralized visions uniting the world’s greatest advisors to show startup visions into actuality.”

The House of DAO was all set to launch at The Cabin Resort in Haad Rin — the identical location of Leela Beach the place Chasse had stayed for his first Full Moon Party all these years in the past. But on the final minute, they pivoted to Coconut Island off the coast of Phuket. All the web sites and advertising supplies nonetheless mentioned Koh Pha-ngan (which is how I stumbled throughout this entire story) maybe in an try to fly extra below the radar at their new house.

“There had been a number of occasions that led to, in the end, the need to flee from KP for some time,” says Chasse.



Our Crypto Community retains rising at House of DAO.
What an amazing household dinner celebration we had final night time! The familia retains rising. @kyle_chasse @jesa_4thePeople @master_ventures @MMcrypto @TheMoonCarl @FelixMago_Dash @HappySasha18

— House of DAO (@HoDThailand) August 29, 2020



The authorities apparently weren’t too enamored with their advertisements that includes jet skis, enticing ladies and digital nomads working laborious and partying tougher as they conflicted with the official COVID-safe narrative of the time. And after trekking to each resort on Koh Pha-ngan, Chasse additionally thought none of them provided sufficient privateness. That wasn’t an issue on Coconut Island, which has only one resort, a few eating places and a small village.





While it appeared like an amazing concept on the time, having simply 20 folks from Master Ventures take over a abandoned 700-bed resort, with little likelihood of attracting new residents as a result of pandemic, wasn’t ideally suited.

“At first, it began out actually nice. Like, it was a stupendous location — excellent for what we needed to do.”

“There had been a number of instances when household and mates had been there it felt prefer it was purported to really feel when it was extra sociable and extra full. We checked out one another and thought this could be superb and it felt proper. It was tremendous encouraging to hold on.”

At the time, they thought the pandemic was nearly over, and Thailand was about to reopen to the world. They had been mistaken.

“It was simply fairly lonely there and quiet. If you had 400 folks, they usually’re all in crypto, it might have been advantageous,” he says. “It led to lots of people feeling actually down as a result of they felt tremendous remoted.”

The second, or third, iteration of Cryptopia/House of DAO shut down round September final 12 months.



House of DAO Family Dinner Night! @kyle_chasse @jesa_4thePeople @master_ventures @MV_CEA @TheMoonCarl @MMcrypto and a few superb new member additions @FelixMago_Dash @HappySasha18, thanks for becoming a member of! #DAO #Bitcoin

— House of DAO (@HoDThailand) August 19, 2020



Cryptoland’s House of DAO v1

Meanwhile, Chasse had been despatched an early reduce of a promotional video for the Cryptoland undertaking that Max Olivier and Helena Lopez had been engaged on for 3 years. Their concept was to crowdfund the acquisition of a Fijian island to arrange a crypto group by promoting NFT plots of land. Impressed with their imaginative and prescient for a 600-acre complicated, which they’d negotiated to incorporate the following House of DAO, Chasse purchased the primary plot of land.

“We get the House of DAO infrastructure included in it, and it solves lots of our issues,” he says. “We’d nonetheless be on a non-public island however subsequent door having a poppin’-like loopy resort with tons of leisure and issues to do.”

Unfortunately, Web3 Is Going Great’s Molly White received maintain of the promo video in January, and it went viral for all of the mistaken causes. It has a speaking Bitcoin, groan-inducing references to memes like shitcoin casinos, cutlery-based jokes, corresponding to “I’m not a fan of forks,” and there’s even an ill-advised musical quantity.

The web tore it aside.





“People say any press is sweet press, however this was actually, actually unhealthy,” he says, including that the founders had been defamed as scammers regardless of having the noblest of intentions.

“They by no means took a greenback from anybody. It was one of many worst issues I’ve ever seen occur to such good folks,” he says. “It’s superb how a lot effort they put into this factor,” he says. “And then abruptly, once they determine to disclose themselves susceptible, they only get smashed down.”

After it went viral, the Fijian authorities reportedly contacted the undertaking by way of their attorneys and discouraged them from continuing.

Chasse says he’s nonetheless an enormous supporter of Cryptoland, which is now taking a look at totally different areas from the Bahamas to Dubai.



HODThe House of Dao web site pays tribute to “the people who find themselves loopy sufficient to assume they will change the world are those who do.”



Let’s do it within the metaverse

Chasse’s plan, in the meanwhile, is to observe how decentralized governance fashions experiment and iterate in DAOs and the metaverse earlier than making an attempt once more in the true world.

“I’m actually enthusiastic about the entire concept of DAOs and metaverse and these items hypothesizing and delivering and failing and succeeding. And so, that is going to expedite the entire strategy of making an attempt to bodily do it with actual folks and actual households.”

The twist within the story is that now that Chasse and Gonzales have stopped making an attempt so laborious to assemble a crypto group, one has grown across the Master Ventures hub anyway. Around 40 employees and their members of the family orbit across the villa now.

“I feel that in constructing a group, there’s a component of it that has to occur organically,” Chasse explains. Chief technical officer Ben Stahlhood’s spouse and youngsters have joined; Gonzales introduced out her dad and mom and 4 sisters; and Chasse’s mother has visited and is now pondering of promoting her seaside home again in Ventura to maneuver over completely.

“It’s fascinating as a result of ever since v2 shut down Coconut Island and all of us type of discovered our personal locations, folks began to carry their households, flying of their children, the communities proceed to develop, possibly not below this official flag anymore,” he says.

Gonzales agrees:

“What I feel we’ve realized is that we’re the House of DAO. Our crew, we’re the guts anyway. Like, it’s our crew members. It’s their households.”

Read Part One right here:

Thailand’s crypto islands: Working in paradise, Part 1






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