Welcome to Miami!
Bitcoin Miami is the biggest conference on Bitcoin in the world. Although only 15.000 people attended compared to last year’s attendance of 35.000, likely a result of the ongoing crypto winter, this year’s edition featured more than 180 talks, fireside chats and diverse speakers.
What did attendees say about the previous conferences compared to 2023? The general impression was that although three times smaller, the expo showcased a higher quality range of businesses.
What are companies building on Bitcoin?
Despite the bear market we are currently experiencing, new solutions based on Bitcoin keep being developed. Lightning took centre stage at this conference. Strike, a Bitcoin payments company using the Lightning network, announced during this conference that it has expanded to 65 countries and is moving its global headquarters to El Salvador, where Bitcoin is legal tender.
IBEX Mercado, a Lightning payment service provider, announced during the conference a partnership with one of the largest corporate groups in Mexico, allowing its Mexican users to pay for different utilities using Bitcoin, with plans of expansion towards other services.
Bitcoin mining was also a hot topic at the conference. MicroBT, the Bitcoin ASIC manufacturer, introduced new models for their miners, with a focus on their new cooling solutions to promote more sustainable and energy-efficient mining practices.
The Florida State College announced the launch of a course to train Mining Technicians, developed in partnership with company Bentaus, which aims to provide students with the technical knowledge on the Bitcoin infrastructure and receive a Bitcoin Technician certificate.
Lava unveiled its new self-custody wallet for Bitcoin, as well as a DeFi platform, which allows users to borrow stablecoins against Bitcoin.
Who were the speakers?
Builders, business leaders, Bitcoin advocates and evangelists, and politicians composed the roster of speakers.
Bitcoin is nowadays part of the political agenda of many governments around the world. Presidential candidates, both from the Democratic and Republican parties, were speakers at this conference. Tulsi Gabbard, former Congresswoman, former Presidential Candidate and Lieutenant Colonel in the U.S. Army reserves spoke about democracy and the country’s efforts towards building a new financial system. Her thoughts about embracing Bitcoin and the opportunities its technology brings to America were echoed by David McIntosh and Tim Ryan, who speak authoritatively on the virtues of Bitcoin and proof of work for innovation, finance, decentralization, and personal liberty. And not only US politicians are discussing Bitcoin. Ridwan Kamil, governor of West Java, in Indonesia, announced that this country is looking for ways to increase Bitcoin adoption, including in using renewable energy for Bitcoin mining.
The recent collapses of CeFi institutions like FTX and also TradFi banks like Silicon Valley Bank and Silvergate were also hot topics at Bitcoin Miami 2023. Michael Lewis, author and financial journalist, and Arthur Hayes, entrepreneur and BitMEX co-founder, debated these recent collapses and the circumstances that led to them. An interesting point raised by Michael Lewiswas that these banks were the first ones to serve crypto businesses and give loans out to startup founders, and that this relationship with crypto may have caused the regulators to act slower before their imminent collapses. However, the main causes that led to their insolvency seem to have been the mismanagement of these banks’ liabilities and overall bad management decisions.
Among the other discussed topics were the current regulatory pressure on crypto in the USA, with Senator Cynthia Lummis describing the regulation on Bitcoin and other crypto-assets as a matter of “national security”, as well as the emergence of Ordinals.
What is next for Bitcoin?
The discussion on Ordinals seems to have Bitcoin enthusiasts divided into two sides: some see them as an incentive for Bitcoin adoption, as one of its newest use cases, while others see them as a nuisance for the congestion they have caused on the Bitcoin network and something unnecessary for the future of Bitcoin. As time goes by, it is expected new use cases for Bitcoin and solutions will continue being created. The number one crypto asset will continue polarizing many political discussions, and become a central part of the political agenda of governors and presidential candidates.
The next Bitcoin halving will take place in April of 2024, just in time for the next edition of this conference, which will be held in Nashville, Tennessee.
What was Defactor doing there?
Defactor, a tokenization of real-world assets startup, was present at the Bitcoin Miami conference. As the leading Bitcoin conference in the world, bringing together Bitcoin maximalists and crypto enthusiasts, it’s a great place to network and present Defactor’s mission. Anastasia Nizhegorodtceva, Community Manager and Growth Advisor at Defactor, was there and shared her thoughts: “The conference was heavily focused on Bitcoin (as the name suggests 🙂) and very much supportive of the idea to adopt and grow this asset. As for the other digital assets, I would say that this conference is quite different from any Ethereum events in New York, for example. For Defactor, more DeFi focused events are typically more relevant, however, it was great to explore collaboration opportunities with the mining community in the US (which plays a very significant role globally).”
Follow Defactor on Twitter and LinkedIn to find out where the team will be present next!
