Inside the Bitcoin 2022 conference in Miami, which felt confusing and disjointed, as the cultural spotlight on Ethereum leaves Bitcoin feeling a little stale
That tension is consistent with the next year’s smaller Bitcoin 2023 turnout, while later coverage of Consensus describes a more corporate crypto-conference atmosphere. The story matters as an early signal that crypto’s public-facing centers of gravity were changing, not simply expanding.
First-order effects
Bitcoin 2022 organizers and attendees face an immediate positioning problem: the event is perceived as disjointed while Ethereum commands more cultural attention.
Bitcoin’s Miami gathering loses some of its role as a showcase for crypto’s forward-looking culture, even as Bitcoin remains the event’s organizing asset.
Second-order effects
A weaker cultural draw raises pressure on Bitcoin conference organizers to distinguish their programming from Ethereum-centered communities; the following year’s lower attendance makes that challenge more visible.
Miami’s identity as a crypto destination becomes less tied to a single Bitcoin event as coverage later finds the city had largely moved on from crypto ahead of Bitcoin 2023.
Third-order effects
If conference audiences continue to separate cultural relevance from Bitcoin’s prominence, crypto events may divide between asset-specific communities and the more institutional industry gatherings represented by Consensus’s corporate turn.
The trend: Crypto conferences are shifting from Bitcoin-led cultural spectacles toward a more fragmented mix of ecosystem communities and institutional industry forums.
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/...
As I wrote in @FastCompany, it felt very much like the Bitcoin community doesn't really know what it's supposed to do or talk about. https://www.fastcompany.com/ ... There's only so much you can do at a 4-day conference devoted to the theme of “buying more Bitcoin”. https://twitt…
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/...
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/...
""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…
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
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/...