The Bitcoin 2021 conference is now under way in Miami. Attendees faced an event of epic proportions on the Nakamoto Stage, filled with art associated with the flagship crypto asset. On the service for viewing YouTube videos, a live broadcast of what was happening was constantly conducted. And the number of viewers was stable at the level of 7-8 thousand.
Mayor of Miami Francis Suarez attended the conference. He opened the Bitcoin-2021 event with the words that fiat currency will soon cease to exist, and cryptocurrency will be at the head. Former Congressman Ron Paul noted his position against the US Federal Reserve. He believes that the Federal Reserve System does not account for its actions, and this is leading to chaos. He believes that politicians and the Fed continue to print money and not worried about debt. For them, scarcity doesn’t matter.
Computer science and cryptography scientist Nick Szabo noted that the biggest drawback of monetary metals is the cost of verification. In this regard, Bitcoin has a significant advantage. MicroStrategy CEO Michael Saylor and renowned BTC proponent Max Keiser noted that traditional investments have lost all their appeal.
Tony Hawk revealed during the conference that he became interested in Bitcoin almost ten years ago while studying the Silk Road darknet market. The famous skater reported that he bought bitcoin in 2012 and has held most of it since then.
Future projects related to BTC
Square and Twitter creator Jack Dorsey has confirmed Square’s plans for a hardware wallet. The introduction of Bitcoin into the platform is an important step on the way for users to work with it every day. Dorsey also mentioned the main problem – the use of a large amount of energy when mining.
And announced a joint project with Blokstream in green mining. BTCTimes highlighted the details of the project. It will be mining powered by a solar power plant and presumably the software will be open source.
Bitcoin 2021 conference didn’t save Saturday market from sales
The total value of digital currencies on Saturday fell 4.78% to $ 1.651 trillion. Investors weren’t impressed by the outlook for the crypto market outlined in the speakers’ speeches at the biggest Bitcoin 2021 event of the year – the Miami conference.
The leaders of the day, altcoins with the highest growth rates in the top 100, also did’nt show impressive results. NEAR added + 4.77%, SOL added + 4.46% to capitalization.
The second day of Bitcoin 2021 didn’t bring any news and announced technological breakthroughs. Thus, investors didn’t receive direct proposals to expand the scaling network from representatives of Lightning Labs. The discussion between exchange traders SnapeShift, eToro and Avanti didn’t contain new proposals for this industry.
The rest of the speakers routinely criticized the dollar, predicting Bitcoin growth on inflation. On the same day, the heads of state of the G7 countries dealt a “tax blow” to the entire IT sector.
A minimum corporate tax will appear in the world. Closing the loophole for transnational corporations to register their headquarters in offshore areas. In fact, at the expense of the IT sector, the budgets of developed countries will be restored. It is these funds that crypto startups that receive them in the form of venture capital may miss.
According to analysts, the decision at the G7 summit could lead to a medium-term drop in the cryptocurrency market next week. So, speculators should temporarily pay attention to local corporate news, which are conducive to growth.
Such events on Saturday included the $ 450 million funding for Solana and the addition of another third-party blockchain to the NEAR ecosystem.