Go dtí seo, Go Maith
Yesterday, the future of retail banking took center stage, with the Lightning Network being highlighted as one potential solution for Bitcoin usage. Another seminar focused on “God Bless Bitcoin,” diving into discussions around Bitcoin’s spiritual significance. Smart contracts on Bitcoin were also covered, a feature that many crypto enthusiasts still rarely use. There were also presentations on layer 2 scaling solutions for Bitcoin and its role in traditional banking.
On the iconic Nakamoto stage, the discussion was centered on how to make Bitcoin in America great again. The title seemed to set the stage for the keynote speaker, former President Donald Trump. As one camp views cryptocurrency as a threat, another camp is adopting Bitcoin and even contemplating adding it to the Federal Reserve’s reserves. “Not understanding Bitcoin’s basics will never make America great again,” says Markus Jalmerot, co-founder of CryptoChipy.
An increasing number of businesses are starting to consider or adopt Bitcoin for their balance sheets, which led to a 45-minute seminar about it. Notable figures like Andrew Kang from MicroStrategy, Eric Semler from Semler Scientific, and Simon Gerovich from Metaplanet Inc shared their thoughts on this topic.
What’s on the Agenda for Friday?
Friday begins with introductory remarks about the day’s sessions and events, followed by a discussion on ETF flows. Are Bitcoin ETFs a temporary trend, or will they continue to influence BTC prices? Representatives from Blackrock, VanEck, Bitwise, and Bloomberg will participate in this conversation.
While Solana has partnered with VISA and PayPal to make stablecoin transactions faster and cheaper, Bitcoin still lags behind in terms of partnerships and development. However, Taproot Assets will be discussing stablecoins at Lightning speed, which is promising for Bitcoin maximalists. For those confused by Bitcoin accounting, the session “Demystifying accounting in the world of Bitcoin” is a must-see. When it comes to investing, the “End of the 4-year cycle” session could provide valuable insights, featuring representatives from Galaxy Digital, Transform Ventures, and Check on Chain. At 2 PM (EST), Michael Saylor, the king of Bitcoin, will deliver a keynote speech. Thirty minutes later, Cathy Wood from Ark Invest will discuss Bitcoin and macroeconomic investment trends. The day will also include a speech by Edward Snowden and a session on Bitcoin banking and regulation’s future.
Kamala Harris Will Not Attend
Earlier this week, there were rumors that Kamala Harris, the new Democratic candidate, would attend the Bitcoin conference in Nashville. However, she later decided not to show up. The reasons are likely clear—there was little to gain from such an appearance, and she would probably lose votes by associating with a subject she views skeptically. Harris has often criticized Bitcoin, seeing it mainly as a tool for criminals. However, studies (such as this one) show that money laundering is far more prevalent with fiat currency than with Bitcoin and other cryptocurrencies. Bitcoin transactions, after all, occur on the blockchain and are traceable. As Janek Ratnatunga states in the *Journal of Applied Management Accounting Research*: “Contrary to popular belief, it’s quite easy to link Bitcoin transactions together to identify a user.” To Kamala Harris, we simply say: Don’t speak on a topic you don’t understand.
Trump to Present His Bitcoin Strategy for the FED
Saturday afternoon is the key moment when Donald Trump will give his keynote speech at Bitcoin 2024.
Why should the Federal Reserve only hold gold and cash? After all, 15% of the U.S. population holds Bitcoin, yet Kamala Harris still dismisses it as “only for criminals.” Trump seems ready to steer the FED toward a more modern strategy. During his Bitcoin 2024 speech, Trump will likely address why it’s absurd for the FED to rely solely on gold, British sterling, and a few other currencies while neglecting Bitcoin—a currency that is not only the most stable crypto but often less volatile than many emerging market currencies. We await his full take on what strategies the FED should adopt under his presidency. CryptoChipy eagerly anticipates his insights. Our guess is clear: Trump will advocate for the FED to start holding Bitcoin as part of its reserves. What do you think?
