Bitcoin ConF A Nothing Burger
I've all but stopped following the conference because it's been a circle jerk of self-congratulations and very little news. Apart from the open-source stage which I still think does good work and that's where the innovation lies, the rest is all pretty much noise.
I like to look at these things from a normie, no coiner point of view and I have to say I'd be put off by this bunch and wouldn't be very bullish after these talks and announcements.
Thankfully these people and companies have no influence on bitcoin and if they all defected tomorrow, the network would keep going, which is why I believe in bitcoin so much.
So out of the entire conference was there anything to talk about? Hardly, I could literally only find 2 things worth mentioning and that was a stretch.
Nation state adoption
Last year we had the big news of El Salvador and today they offer their citizens the opportunity to live, work and save in bitcoin if they so choose. This is not to say it's been a smooth ride and if you hear the accounts of Salvadorians, they'll tell you the Chivo wallet hasn't been the best bitcoin experience. Leaving people with a half-baked solution and then moving on to other countries just seems to me like you're in it for yourself.
This time around we see Samson Mow, pushing for adoption in multiple geographies namely, Prospera in Honduras, Madeira of Portugal, and Mexico.
Mexico would obviously be a big win, it's a massive country with a largely working-class, growing middle class, relations with the US, and diaspora all over North and South America. But from the announcement, it was a bill pushed by 1 politician that didn't look very confident.
As for the rest, I see them as nothing burgers, and just something to have an announcement. I would have much preferred to hear how work had been done to improve the bitcoin experience for Salvadorians rather than trying to dump a half-baked product on more people.
Shopify and POS systems
Jack Mallers, CEO of Strike, announced a partnership with Shopify, NCR, and the Blackhawk Network – the three global payment-system leaders to enable people to spend bitcoin with them via Strike. Now, this is great for Strike and for Lightning Liquidity but as for bitcoin adoption, I don't see it yet.
I get the idea of being able to spend bitcoin, would I like it to be more seamless sure, but if tax laws and legal tender laws aren't adjusted it still makes it an inefficient method of payment.
The positive I think for me is that newly bitcoin wealthy people will be encouraged to spend their bitcoin, and it will move to companies who hopefully don't want it on their balance sheet and dump it for others to pick up.
Nothing going on
Other than that, there was nothing worth mentioning, just a bunch of people shouting bitcoin and larping because they haven't had a chance to get out of the house much after lock downs.
Have your say
What do you good people of HIVE think?
So have at it my Jessies! If you don't have something to comment, "I am a Jessie."
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