Bitcoin Indonesia's Sats-turday Market: A Closed-Loop Bitcoin System in Action

Bitcoin Indonesia's Sats-turday Market brought together 16 communities and 10 small businesses in Bandung to participate in a functioning closed-loop Bitcoin economy. The event demonstrated how communities can use bitcoin for practical transactions, treating bitcoin as community points rather than direct payment.

Approximately 400 people attended throughout the weekend of February 6–8, earning, spending, and redeeming sats using the Fedi app. The gathering served as a real-world test of whether the closed-loop model could extend beyond bitcoin-native communities into diverse social groups.

Market Experience and Merchant Adoption

Bitcoin Indonesia's closed-loop framework, outlined in their whitepaper "Closed-Loop System Using Bitcoin as Community Points," allows bitcoin to circulate within a network of participating members and merchants. This model creates a pathway for communities to experience bitcoin's benefits and the Sats-turday Market put this framework into practice. Each community set up spaces at the market and invited members to experience bitcoin transactions firsthand, demonstrating how different types of communities can adapt the model to their specific needs.

Every participating merchant used the Fedi app to transact and redeem sats throughout the weekend. This created a visible, functioning bitcoin economy where community members could see how bitcoin works in practical scenarios.

Merchant feedback indicated strong usability. "It's easy to use, just like other e-money," one merchant shared. Another highlighted Fedi's privacy features: "I like that we don't need to provide our phone or email address on Fedi."

Communities responded positively as well, noting that Fedi functions not only as a payment tool but as an app designed for community building, with capabilities that support local exchange and connection.

Merchants had flexibility in managing their earnings. They could save their bitcoin or convert them to Indonesian rupiah. While some chose to convert immediately, others opted to hold bitcoin, particularly those who took advantage of the moment when bitcoin's price dipped.

Blueprint for Expansion

Sats-turday Market showed that when communities can use bitcoin within networks they already trust, adoption becomes more accessible. This grassroots approach offers a practical model for bitcoin adoption demonstrating that bitcoin's value extends beyond financial benefits to social and community benefits.