Inside the Bitcoin 2022 conference in Miami, which felt confusing and disjointed, as the cultural spotlight on Ethereum left Bitcoin feeling a little stale
What happens when you're no longer the hot young cryptocurrency? That's the question hanging over the Bitcoin 2022 conference in Miami this week.
The subsequent Bitcoin 2023 event drew more than 12,000 attendees, down from more than 25,000 in 2022, and coverage found Miami had largely moved on from crypto. Later, Consensus presented a more corporate-facing version of the sector's conference circuit.
First-order effects
Bitcoin's Miami conference loses some of its value as a focal point for the broader crypto culture when attendees perceive its programming and atmosphere as disjointed.
Ethereum benefits from the relative cultural attention described at the event, widening the distinction between Bitcoin's established identity and the parts of crypto attracting current enthusiasm.
Second-order effects
Bitcoin conference organizers face pressure to make the event relevant beyond Bitcoin loyalists as Ethereum-centered culture competes for attendees' attention.
For Miami, a less cohesive Bitcoin gathering weakens the event's role as a durable civic crypto showcase, consistent with later coverage that the city had largely moved on from crypto.
Third-order effects
Crypto conferences are likely to differentiate by audience: Bitcoin-focused events around an established asset, while broader gatherings increasingly cater to institutional and corporate participation, as seen in Consensus's corporate sheen.
The trend: Crypto's conference economy is shifting from a single Bitcoin-centered cultural moment toward segmented events shaped by competing communities and, later, institutional audiences.
The difference between Bitcoin and Ethereum is that Bitcoin is a pyramid scheme while Ethereum is a platform for pyramid schemes and tech people really like platforms. https://twitter.com/...
Thiel finishes Bitcoin 2022 speech by unveiling an enemies list. (His words.) Up comes pic of Warren Buffett, who Thiel calls a “sociopathic grandpa” and “Enemy No. 1.” The crowd booes in agreement. (Buffett has called bitcoin “rat poison squared.") https://www.forbes.com/...
Over and over it seems inescapable that the two options being offered to us right now are: Web3: Digital feudalism Metaverse: Monetize attention and make it a luxury resource for those willing to pay. https://twitter.com/...
Miami is kicking off a multiday Bitcoin conference by unveiling a larger-than-life bull statue, as the city looks to cement its image as a crypto hub. Meet the “Miami Bull” https://www.bloomberg.com/... (video from @brucefenton) https://twitter.com/...
I've learned a lot this week about how Bitcoin true believers see this technology. There are obviously a lot of entry-level consumer investors here, but if you get into the headspace of Bitcoin maximalists you begin to realize how drastically they want to reshape the world... htt…
Bitcoin evangelists' utopian vision of their cryptocurrency is at odds with the celebrity-filled panels that make up the annual conference. https://f-st.co/5bdrEy9
""When they choose not to allocate to bitcoin, that's a deeply political choice," Idiotic statement but not surprising considering who is uttering it. If you want to test the theory of whether an asset class can be politicized, Thiel is exhibit A. https://www.cnbc.com/...
Cryptocurrency is a legit part of the future, but to call out geniuses of finance and banking because they don't want the average person to lose their rent money, or retirement, or worse, is irresponsible. Mr. Thiel needs to calm down. The markets ARE shaky right now. https://twi…
New from me in @FastCompany: The most notable thing about #Bitcoin2022 in Miami this week is how much crypto culture doesn't really feel led by Bitcoin anymore, but Ethereum. https://www.fastcompany.com/ ... https://twitter.com/...
Thiel says that Buffett is on his enemies list because he's expressed skepticism about cryptocurrency. “They need to be allocating some of their money to bitcoin. We need to push back on them.” https://twitter.com/...