All you hear is the negative news on bitcoin.
China ban, Musk shite, government scare, shite coin scams, rug pulls and the list goes on. There is no shortage of negative news for Bitcoin.
However, I have not noticed a lot of buzz about the upcoming Bitcoin Conference that is taking place this week (June 3 to 5, 2021).
I will not be going to the conference but my friends are.
Why is the Bitcoin Conference significant?
This Bitcoin conference is significant for two reasons: Attendance and Timing.
Attendance: There are over 12,000 people going to this conference and the guest panel is splendid. It includes politicians, entrepreneurs, bitcoin maximalists, bitcoin whales, entrepreneurs, media outlets and crypto enthusiasts.
According to rumors, some of these tickets (especially whale passes) started at $5000 and went up to $20000 and still got sold. So you can understand the craze for this conference.
If you were around in the bitcoin space in 2017, every time there is a conference with 1000s of people attending, there is usually an uptick in market activity.
The largest conference during 2017 had around 5000+ attendees. This bitcoin conference in Miami has over 12000+.
We expect a lot of buzz coming out of this conference that will heat up the crypto space from its lukewarm state.
Timing: I think while the market is in a sell-off mode, many insiders will be setting up their positions in projects that are expected to reveal their roadmaps and progress reports.
I personally think there will be a lot of news on Bitcoin and things being built on the bitcoin network. I expect to hear updates on lightning network and its enabler projects.
Companies may announce they will start accepting crypto for payments or paying out in crypto to their employees, contractors and vendors.
Significance of Miami’s participation
While California and New York are busy devising plans to squeeze every single tax dollar from the rich and the entrepreneurs, Florida is opening its doors to these frustrated talents.
Miami is playing a key role in setting the stage to become Blockchain capital of the US. It has a lot of investors flocking to its coastline.
While Wyoming (Caitlin Long) was the frontrunner in building the framework for blockchain and crypto, we could see Florida taking the advantage of this new technology trend.
Miami recently noted that it is looking into letting its residents pay county taxes in Bitcoin.
Mayor Francis Suarez is placing his city as ‘crypto hub’ and blockchain capital to the tech builders and entrepreneurs.
With no income tax (compared to up to 13% in California), most sunny days, coastline, young crowd, tourist hotbed and a hip scene, Miami has a lot of things going for it.
Bitcoin conference being held in Miami is yet another lure to place the city in high regards among the investors and builders alike.
We expect a lot of fireworks during this week and the weeks after the conference. This could probably get us out of the bear trap we found ourselves in recently.
We expect a lot bigger fireworks as a direct result of this massive conference.
We wish the organizers, participants and enthusiasts all the very best at this conference.
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