Diamond-handed crypto enthusiasts take the bull by the horns at Bitcoin 2023

[ad_1]

The most important cryptocurrency shows its resilience at this year’s conference in Miami Beach

By Riley Kaminer

It wasn’t just those who rode the mechanical bull installed today at the Miami Beach Convention Center who took the bull by the horns. On the contrary, optimism about Bitcoin was universal among all attendees Refresh Miami interacted with at this year’s edition of the flagship cryptocurrency conference.

Organizers told us that the Bitcoin 2023 conference is expecting a total of 13,000 to 15,000 attendees, which is about half of Bitcoin 2022’s attendance during the three-day event. The conference started today with an industry day focused on the Bitcoin business community. The objectives: to network, learn and build together.

The crowd included a large swath of Bitcoin maximalists or maxis, as its die-hard supporters are known to focus on the cultural elements surrounding Bitcoin. Another major subset of the crowd was clearly focused on the technical side of the industry. But we also spoke to newcomers who wanted to dive deeper into the ecosystem. Obviously, the attraction remains, although to a lesser extent than last year.

Making sense of the banking crisis

For Bitcoin fans, the recent collapse of traditional banks SVB and First Republic acts as a point in favor of Bitcoins.

Jan van Eck, CEO of asset manager Van Eck, which manages $70 billion in assets, drew a parallel between gold and Bitcoin as a means of hedging government monetary policy risk.

The world can change very quickly, and Bitcoin is a great thing to watch in people’s wallets, he said.

In a separate chat, veteran Wall Street turned Bitcoin influencer Caitlin Long, one of the main draws at the conference, also noted that recent episodes have been a gigantic advertisement for Bitcoin.

From left to right: Dylan LeClair, Caitlin Long, Mark Connors and Ram Ahluwalia

It’s no shock that Bitcoin is up, in light of what’s happened in the traditional banking system.

Mark Connors, head of research for digital asset investor 3iQ, echoed those sentiments. He noted that the government had consolidated the banks, which then got into over-indebtedness, causing the global financial crisis.

It continues, Connors said. In March, the Fed absorbed more banks, making it a multi-decade accumulation. It is in this context that the decentralized nature of Bitcoin could provide a competitive advantage.

Anxiety about regulations

If there was a main theme of today’s discussions, it is that regulation poses an unknown threat to the Bitcoin community. There were different philosophies on exactly how to deal with this lack of regulation. For example, van Eck reported that his company plans to double its European presence as lawmakers seem more eager to provide regulatory guidance.

Experts agreed that regulators should act quickly. We need action sooner, we need policy that is not prohibitive, and we need training for the policy makers who are going to craft the guidelines that will last for the sustainable future. of bitcoin, asserted Mina Khattak, senior director of crypto and web3 at Worldpay of FIS.

For Perianne Boring, founder of the professional organization The Chamber of Digital Commerce, the regulation of digital assets proposed by Massachusetts Senator Elizabeth Warren jeopardizes our American values.

Boring believes Bitcoin and blockchain technology can advance US national security, economic security, and energy security. And overall, she’s optimistic that the Bitcoin crowd will prevail. The pro-crypto army is bigger, more organized, and more sophisticated than any anti-crypto army I’ve seen on the ground in Washington, DC, Boring claimed.

Builders continue to build

A lively trade show showcased a wide range of professionals doubling down on Bitcoin, from nonprofits to lawyers to blockchain infrastructure providers and more. One row was dedicated to a “Bitcoin Bazaar,” with small vendors selling merchandise as diverse as Bitcoin-themed children’s books and shitcoin-themed toilet wipes. And another section displayed Bitcoin artwork, much of which was available for purchase (in BTC, of ​​course).

But startups played a protagonist role at the conference. An international set of companies participated in pitch day or an ongoing series of pitch competitions across different verticals.

Miami startup Moon Mortgage was also present. Brickell co-founder and CEO Aaron Nevin expressed his excitement to attend the conference now as an exhibitor, after attending for the past five years.

It’s like a big family reunion, he told us. It is the center of the crypto universe. It’s amazing to be here at Bitcoin 2023 and to be in the crypto space.

In April, Moon Mortgage announced a new product that allows users to borrow against the value of their crypto, in addition to a real estate mortgage product. Nevin said we should expect more from this nine-person company as it continues to expand in the United States.

The conference continues tomorrow and Saturday with sessions on Bitcoin payments, self-custody, Bitcoin in the Global South, and more.

MORE SCENES FROM BITCOIN CONFERENCE 2023

LEARN MORE ABOUT REFRESH MIAMI:

I’m a Miami-based tech researcher and writer passionate about sharing stories about South Florida’s tech ecosystem. I especially enjoy learning about GovTech startups, cutting-edge applications of artificial intelligence, and innovators who are leveraging technology to transform society for the better. Always open to locations via Twitter @rileywk or www.RileyKaminer.com.

Latest posts by Riley Kaminer (see all)

[ad_2]