Last month I went out Harper A long report on the North American Bitcoin Conference, the most important annual event for the entire Bitcoin community. The reporter, Will Stephenson, went to the June 2021 issue because during the pandemic he started investing in bitcoin and was interested in the nature of that kind of money. According to his account, after spending some time inside the agreement with so-called “shitcoiners” (beneficiaries who promote other cryptocurrencies without the fundamentals), after an interview with Michael Saylor (CEO of a company that transfers all capital into bitcoin) and on a car trip across Traffic in Miami with the founder of the WallStreetBets subsidiary, Stevenson found himself, last night, staring at his whiskey glass at an NFT auction, and in that moment, now only aware of the decadence and ridicule around him, concluded that he had to get rid of all his coins its own bitcoin. And rightly so, the Bitcoin conference is now attracting many speculators. However, most of the people who grabbed this year’s edition of Bitcoin were purebreds who, just like Stevenson, would never want to have anything to do with Chupacabra Coin promoters and NFT satellite auctions.
Bitcoin 2022 was held in Miami Beach from April 6-9, in approximately 130,000 square meters of the Convention Center. Twenty-five thousand people are spread among the four stages, an outdoor green area and an Expo hall with hundreds of pavilions displaying, among other things, mining equipment and kits to form their Bitcoin node, a small computer that houses a copy of and synchronizes the entire blockchain. At the entrance to the exhibition hall, there was a reproduction of a volcano (from it Bloomberg He posted a photo where the cleaner passes around him in the still-empty suite, making him look very pale and in the midst of that desolation, huge stools. Indeed, on the days of the fair, it was surrounded by bright green palm trees and emitting fake luminous smoke and lava). A statue of a robotic bull, a cyborg version of the Charging Bull, has been unveiled in front of the Manhattan Stock Exchange, in front of the Convention Center. On the eve of the convention, every person in any hotel, club, drugstore, or supermarket wore their bracelet or event shirt, and this surreal conquest of Bitcoiner made him suspect that on an ordinary day, without a conference, South Beach might look as empty as a ghost town.
Some, still in shock from the long line in the previous year’s sun, woke up when everything was done elsewhere in the Wynwood neighborhood, at 6 a.m. Thursday not to miss the opening speech. But this time it was very easy to get to the Nakamoto Theater, the main hall with a capacity of 15,000 seats, three large screens displaying the speakers, and other screens with quotes from the pseudonym of the inventor of the Bitcoin protocol Satoshi Nakamoto, and the club sound system in which he played doping music during rest periods. Miles Sutter, a spokesperson for Cash App, the main sponsor of Bitcoin 2022, told how his disillusionment with the world of traditional finance, which he worked in in 2011, led to him participating in the Occupation of Wall Street and being fired from the business, and as he then saw in Bitcoin as an alternative in Within reach, not so much for hedge funds or large corporations as for those who need to escape wars, authoritarian states, or suffer violent domestic inflation. “These things are really going to change the world,” Michael Saylor said at the same point a few hours later in a conversation with Cathy Wood, CEO of a well-known investment management firm and a huge proponent of Bitcoin. Occasionally, bouts of insanity have captured the Nakamoto theater audience. Someone got up behind me and shouted “Let’s go Cathy!!” While everyone lost their minds in front of Saylor, who only grinned with his teeth and without moving the rest of his face, remember that everyone called him crazy every time he bought millions of dollars in bitcoin. “It is the first global, open, private and digital monetary system not controlled by government in the history of the world, and it will be a long and good path,” Wood said calmly.
In the other stages, thoughts were expressed with less frenzy. Together with a miner friend (who invested in computers to produce bitcoin), I followed a panel where the issue of bitcoin energy consumption was addressed and talked about the possibility of using renewable energy sources in mining. “Not everyone really knows how energy works,” my friend told me while we were visiting the Mining Museum in the exhibition hall, “Many mining farms in America are reusing industrial waste gas as an energy source. Some environmentalists with no preconceived notions must have been the “orange pill” (“orange pill” meaning someone made him swallow the orange pill, which is bitcoin knowledge).
Bitcoin makers believe that the immeasurable and unambiguous money is more than the cost that is sacrificed in order to produce it. Alex Gladstein of the Human Rights Foundation said before interviewing Yoonmi Park, Farida Napurima and Fadi El Salamin, three North Korean activists, that bitcoin is not just “the numbers are going up” (the price is going up) but also “freedom is going up.” From Togo and Palestine. For example, Fadi explained: “If I want to send a wire transfer to my mother who lives in Hebron, I have to worry about the American government and the Israeli government, who might think I’m sending this money for the wrong reasons, the authorities, the Palestinians, who They threatened in the past to kill me for my political activism, and who might freeze my bank account or go to interrogate my mother. With Bitcoin, the same can be done in a few minutes without being persecuted by anyone.”
Some jurisdictions, such as El Salvador and the city of Lugano, have submitted legal tenders for bitcoin, and now there are proposals for Mexico. According to many Bitcoin, these are important but contradictory steps, because in the long run, the approach of Bitcoin, a network that is structurally chaotic thanks to the strict regulation of its code, should be prevented from compromising with political power. This was talked about by Giacomo Zucco, a local bitcoiner who has been recognized by the international community for his work as a mentor. “Call the senator and ask him to ban bitcoin,” said Giacomo, who appeared on the panel wearing a military green beret with the word “toxic” written on it. to anyone or anything attacking the network).
At the end of the day, I got a notification on my phone telling me to go back to the Nakamoto stage for an announcement that would be bigger than the year before, when Najib told the world’s agent that bitcoin would become legal tender in El Salvador. On stage, “normal bitcoin” Jack Mallers, “just a boy,” as he said he wore a sweatshirt and a hat that concealed his eyes, revealed that thanks to partnerships between the largest POS payment manager, the largest alternative payment provider and Strike app For payments based on the Bitcoin network, this year it will be possible to make purchases in the US through the Lightning Network, a “layer 2” Bitcoin-based network that makes instant, private, and peer-to-peer transactions possible to peer without commission. No more credit cards, no more middlemen, for the first time since 1949. I was talking about it that evening at a bar with my miner friend, and we were wondering if it would lead to more people wanting to study bitcoin. “But it’s like the French Revolution,” he told me, “to change things a stubborn few can be enough.”
Some of these people are somewhat born with Bitcoin, such as Autumn Domingo and Ishaana Misra, two girls between the ages of 17 and 14 who spoke on a Friday afternoon at the Nakamoto stage. They first introduced themselves in February in New York at BitDevs, a symposium where news and technical aspects related to Bitcoin are discussed, as two high school students who set up a community, Generation Bitcoin, to spread knowledge about Bitcoin among teens. Now Ishaana, who was already developing her own wallet, a program for receiving and sending bitcoins, has become the youngest contributor to Bitcoin core, the open source protocol code. The organizers of BitDevs offered to help her with her program, which I saw excitedly at the next seminar in March while in front of everyone they handed her and fall a colorful box containing a Bitcoin node to put in school: for toxic purists, a gesture of love towards those receiving the gift and towards the entire network.