Bitcoin 2022 news
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I make my way to a table occupied by two men I met at a happy hour the day before. They have been joined by a tall, lanky man who is eagerly explaining that Oct. After about half an hour of this, I excuse myself to find the restroom and run headlong into another Bitcoin die-hard, a man in a jean jacket covered in crypto-themed patches.
This one is hosted at Maps nightclub, but few people are dancing and most are on their phones. The apartment complex is sprawling; we find our way by following the sounds of thumping electronic music. When we enter, I notice the upper floor has been turned into a DJ booth, the kitchen into an open bar. Some people are drinking and dancing in the living room, others are lounging on one of the two terraces overlooking the marina. Just about everyone is vaping.
I have arrived with Button Down and one of his friends, a man who looks to be no older than 25; I learn later that he has already founded and sold his own crypto company and probably has more money than I will ever see in my lifetime. We are joined by another one of Button Down's coworkers, as well as the early-adopter Libertarian I met two nights before.
They all look largely unimpressed by the massive amount of wealth on display. Eventually, however, the enigmatic host, Adam Todd, is forced to make an appearance because four Miami Beach police officers have arrived at the door. The partygoers seem unfazed. The crew seems slightly unnerved by having a journalist along for the ride—I have assured them no names will be used—but also excited about being in the presence of an actual woman after a three-day bro-fest.
Neither side seems to really know what to do with the other—until, that is, a surprise set by Nelly, which gets everyone from the bottle girls to the programmers to briefly forget themselves and start dancing on the tables.
Instead, the focus was on making BTC more practical as an everyday payment method. Right now, the Bitcoin network can take anywhere from 10 minutes to an hour to confirm a transaction. And while Visa can handle about 1, transactions per second, Bitcoin's blockchain can only process seven. The main announcements centred on technology known as Lightning.
It promises to make Bitcoin payments instantaneous, complete with "exceptionally low fees". Crucially, it's claimed that this network can scale to millions or billions of transactions per second if necessary. A string of companies - including Cash App and Robinhood - unveiled support for Lightning at the conference. Through a number of partnerships, including with the world's biggest supplier of point-of-sale devices, he vowed to ensure Bitcoin can be used as a payment method in "millions" of American stores - including McDonald's, Walmart, Whole Foods and Starbucks.
The entrepreneur accused legacy payment networks - including Visa and Mastercard - of failing to innovate for more than 50 years. Both of these brands have been embracing cryptocurrency over the past year or two. Mastercard's head of crypto, Raj Dhamodharan, pushed back against these claims - telling me that the company is "constantly adding value". While Strike's announcement was a big deal for the US, you could argue that international attendees didn't get that "rabbit out of the hat" moment.
The city of Prospera in Honduras - and Madeira in Portugal - did reveal that they're planning to adopt Bitcoin. But Samson Mow, an entrepreneur who is devoting his time to helping nation-states embrace this cryptocurrency, told me on CoinMarketCap's podcast that it's "difficult" for most countries to take the plunge like El Salvador did because their presidents and prime ministers lack influence. President Nayib Bukele once described himself as "the coolest dictator in the world".
The slogan's inspired by a typo made on a Bitcoin forum years ago Cash 'is literally useless' At times, the speakers on stage at Bitcoin did sound a little cultish - with some downright scaring people by claiming major currencies like the US dollar will implode in a matter of years. Mexican billionaire Ricardo Salinas brandished a banknote and said: "This thing is literally useless Many in the industry have been fiercely critical of central banks for increasing the amount of money in circulation, and warn that consumers are only going to see their spending power erode further in years to come.
There was also fierce criticism of central bank digital currencies CBDCs - with the Bank of England and the US Federal Reserve weighing up plans to build digital pounds and dollars respectively. Bitcoiners hate these proposals, and claim they have the potential to be even worse than cash. Mr Salinas suggested CBDCs could give banks unprecedented control - and even stop people from buying cigars or staying out past 2am.
They close your capacity to spend your money. Image: Bitcoin ATMs allow users to convert physical cash into crypto - but they recently disappeared in the UK over fears they could facilitate money laundering Talk on stage also regularly turned to "orange pilling" - the term that's used to describe encouraging people to invest in Bitcoin for the first time. Although such talk is perfectly normal in the rather macho world of crypto, it might be extremely off-putting to everyday consumers.
Bitcoin has faced a barrage of criticism from the likes of Bill Gates and Warren Buffett, with the latter famously describing it as "rat poison squared". But speakers passionately argued that these men come from a position of financial privilege - and live in advanced economies with free speech and relatively stable countries. One panel led by the Human Rights Foundation claimed Bitcoin is viewed differently in nations ravaged by war, weak currencies, hyperinflation or authoritarian regimes.
Indeed, the US Senate recently heard evidence from one Ukrainian refugee who said they preferred to receive Bitcoin over international cash transfers because it could be used immediately. Image: Bitcoin miners pushed back against criticism over how much energy the cryptocurrency's blockchain uses Bitcoin's climate impact The Bitcoin blockchain's energy usage is regularly cited as a cause for concern - and rightly so.
The process of verifying transactions and minting new coins, known as mining, gobbles up a lot of computing power. But many of the speakers at this conference were dismissive of the network's carbon footprint, with some advocating for Bitcoin to use even more energy.
In their eyes, the electricity that's used to power the thousands of machines that keep this network going is essential because of the benefits that the blockchain delivers. They question estimates that suggest Bitcoin has a bigger carbon footprint than a small country, and say previous forecasts about its future energy use have been well off the mark.
The CEO of the Bitcoin mining company Core Scientific, Darin Feinstein, pointed to an article written by the World Economic Forum in predicting that - by - "Bitcoin mining could be consuming the same amount of electricity every year as is currently used by the entire world". He said: "We know they were wrong, the lights are still on.
A bold claim for sure - but a word of caution: getting accurate data on this is far easier said than done. Many Bitcoin miners also claim that they are intensive users of green energy - and they're actually helping drive innovation in renewables.
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1 комментарии к “Bitcoin 2022 news”
Mikazuru
on02.12.2019 в 11:12 говорит:
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