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Bitcoin ConF A Nothing Burger by chekohler

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· @chekohler ·
$10.84
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.

![btcconf.png](https://images.hive.blog/DQmdPvSw8yQcKLXyEjUzaBqHuAWfFT1hnD5woXskpEBsLgG/btc-conf.png)

## 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."

## Let's connect

If you liked this post, sprinkle it with an upvote or esteem and if you don't already, consider following me @chekohler  and subscribe to my [fanbase](https://hive.vote/dash.php?i=2&fan=chekohler)


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vote details (155)
@gillianpearce ·
$0.04
Glad I've got you to do the summary for me. All sounds very dull. &#128514;

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@chekohler ·
Was just rehashing a lot of the same talking points of last year and influencers trying to sell their podcast and books, very little innovation. 

apart from the open-source section which had a bunch of cool stuff going on
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@gillianpearce ·
>apart from the open-source section which had a bunch of cool stuff going on

well that's encouraging at least. &#128522;
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@mypathtofire ·
$0.04
Very accurate description. The usual Instagram influencers were there and the best shots I saw were of the fancy cars outside. Otherwise it looked like a borefest compares to the pool parties at the Miami Winter Music Conference.


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vote details (1)
@chekohler ·
Yeah it just makes bitcoin look stupid, like its all about making money and opulence, rather than financial freedom and driving change in the world
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@tommycordero · (edited)
$0.02
I don't want to sound pessimistic but I don't think Bitcoin is the network to scale for micropayments... for a country to use Bitcoin as day-to-day currency transactions would need to be verified outside the main chain, only way to make it fast enough without changing Bitcoin to the point of being unrecognizable. But parallel chains...I think more testing needs to be done as far as security goes. 

> Chivo wallet hasn't been the best bitcoin experience

This is a fact. I own a Facebook group for the Chivo App with some 50k members...too many problems with this app. Not just that, a bunch of money went "missing" during the Bitcoin distribution, I think every citizen was supposed to get $20 bucks or something. Well...the number of people saying they went to claim theirs and the app told them someone else had claimed it was concerning to me.

Something else that has been worrisome is that apparently businesses are being forced to accept Bitcoin? I'm not so sure I'm behind that measure. 

Time will tell what will happen as far as state-wise adoption, but honestly I think they'd probably be better off using the HIVE blockchain instead of Bitcoin at this point. I fear that when the Bitcoin network gets congested it's going to make for very bad publicity as to the utility of the asset and capability of the network. 

Thanks for sharing your insights on Bitcoin22!
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vote details (1)
@chekohler ·
I agree Chivo was rolled out with a lack of infrastructure and education because they wanted to push this PR move an get the bill signed into law so incentives and reality was not aligned and I agree there has been such a bad user experience for many but did we ever expect a government to pull off anything?

I agree that lightning was thrown as a solution when it wasn't ready, things like Turbo channels, channel factories, dual funded channels are not smooth enough for people to use yet so they don't even know what method they are using, the tools are still being built out and I feel it was premature, but its not up to me to decide, El Salvador is now the test case and they are exposing a lot of issues which is great

If it were any other chain it would have been exposed majorly and fell apart, with scale comes security issues galor.

I think its a good thing Chivo doesn't work properly so it pushes users away from custodial services to be more independent, id rather people hold their fund themselves than through Chivo. I know its' not easy for many but they have to learn, if you don't know how to use a smartphone you also had to learn now it seems like a normal thing but it took time

I would disagree regarding HIVE, 20 witnesses cannot offer the protection needed to safeguard any reasonable amount of money, the only reason HIVE doesn't get attacked is because the money isn't worth the attack. If HIVE were to be in the 10s of billions, it would fall over in a heartbeat as we saw with Justin Sun throwing a few million at steem and it was over. There is soo much attack surface in DPOS.


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vote details (6)
@tommycordero ·
> 20 witnesses cannot offer the protection needed 

I agree. But with the right incentives 20 witnesses can be turned into 2,000 with more ease than having to fork Bitcoin to change pretty much anything that needs changing...

If HBD↑20% has demonstrated anything so far is the ability this chain has to adapt, #TronGate is also evidence. Adaptation is necessary for the survival of any blockchain or really anything IRL.

Good conversation! Glad to find people who actually know what they're talking about and consider the security of these deterministic mechanisms offered by blockchain tech.
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@vlemon ·
$0.04
So true! Thanks for preaching the truth and not be a *moonboy* ;)
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vote details (1)
@chekohler ·
Lol yeah bitcoiners were meant to be critical thinkers seems like theres a lot of sheeple just yelling bitcoin but don't understand it, its kind of embarrasing
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