To solve the dilemma of BTC, the BTC Pizza Festival is just inspirational, and the BTC Conference is the highlight
From June 3 to 5, known as the world's largest BTC event, the BTC 2021 conference will be held in Miami. In fact, this event was supposed to be held before the BTC Pizza Festival. I don’t know why it took more than a month. Fortunately, the BTC conference was finally decided to be held at the Wynwood's Mana Convention Center in Miami, Florida (USA). In fact, compared to the BTC Conference, I think the BTC Pizza Festival is more inspirational and helps to promote the development of BTC.
The BTC Pizza Festival allows BTC investors to remember the story of that year. If the BTC that Florida programmer Laszlo Hanyecz bought for pizza can be kept for now, then he is now a proper billionaire. Of course, history cannot repeat itself. Laszlo Hanyecz lost this opportunity to make a fortune due to the misjudgment of BTC's trend. I think most BTC investors should have heard of this story, and this should be one of the reasons why many people insist on hyping BTC.
After all, history is history, and no one can determine the future trend of BTC. BTC Pizza Festival is more like an inspirational story about BTC. BTC offline conferences should be really good for BTC. Every BTC offline conference is to convey the belief of winning for BTC investors. BTC is now facing a huge dilemma. Not only is the external policy very unfavorable for BTC, but BTC itself has also exposed some problems. I don't know if this BTC conference can point out the direction for the majority of investors and put forward some constructive opinions on the development of BTC.
At the Miami BTC Conference, there are four issues that need to be solved in order to promote the development of BTC
At the Miami BTC Conference, a number of senior US officials and corporate executives will attend and will deliver BTC keynote speeches. Due to the impact of the new crown epidemic, the BTC conference was interrupted for a period of time, so this time there were many participants. The Miami BTC Conference is said to be attended by 12,000 people, which should be the biggest BTC conference ever. I think there are four issues that BTC needs to solve most now, namely energy pollution, taxation, technical security, and policy. I think this conference will also deliver speeches on related issues.
Many countries in the world have questioned the high power consumption of BTC mining, and as the scale of mining increases, the problem of BTC power consumption is also increasing. Now China has begun to control the scale of BTC mining, imposed power restrictions on some BTC mining farms, and the policy has a trend of further tightening. But I personally don't think this problem is so serious, because as long as the price of BTC does not collapse, then BTC mining will be valuable. As BTC proponents say, BTC will promote the development of clean energy. In fact, this is not impossible.
Profit is one of the main driving forces to promote the reform of an industry, as long as BTC mining can make money and has a large enough profit margin. Then the capital giants will be willing to reform the entire mining industry chain for their own interests. Automation and green energy will be the standard equipment of future BTC mining farms. The reason why the chip industry chain can develop so fast is also because of the huge profit margins in related industries. But all of this needs to be built on the basis that BTC will continue to increase in value. If the price of BTC crashes, then don't think about clean energy.
If BTC wants to survive under the pressure of policy, it is necessary to establish a consensus system of rigid needs and interests
Tax policy is also one of the problems that BTC must face, but this problem is not unsolvable, and taxing BTC is not necessarily a bad thing. It mainly depends on the strength of various countries' taxation on BTC. If all windfall income taxes are imposed and warehouse tax, stamp duty and surcharges are increased, it will also be a heavy burden for BTC. In the post-BTC era, if miners lose their mining revenue, how to adjust the stability of the BTC network through commissions and taxes.
The technical risks of BTC and the attitudes of various countries towards BTC should be a major problem that plagues the development of BTC. How to find a balance between regulation and encryption for decentralized BTC. The unexpected downtime of the trading platform casts a shadow over BTC, which is known as fair, just and stable. BTC, which is not effectively regulated, is a double-edged sword. If you use it well, you can avoid currency depreciation. If you don't use it well, it will become a tool for capital giants to harvest retail investors. No matter how good the technology is, you are afraid of unplugging the network cable. Decentralized BTC has already been manipulated by capital giants. How will BTC be truly decentralized in the future?
Changes in various countries' policies on BTC should also be put on the agenda. Central bank digital currencies such as the digital renminbi will soon be fully launched. Will BTC be forced offline? I don’t know if this BTC conference will show BTC a clear path, and how can we survive under the pressure of policies? If BTC wants to develop stably in the long term, just relying on the “success” of the BTC Pizza Festival to make a fortune, it will certainly not last long. The consensus foundation of BTC cannot be established on the basis of "gambling", but a complete consensus system with just-needed and profitable relationships needs to be established. Only when there is demand can there be a steady stream of players.
