Impressions from the "North American Bitcoin Conference" Miami. Bitcoin and Blockchain changed everything. Paper money (fiat money) of central banks is no longer available in the crypto universe.
As I start writing this issue, it's Saturday night, sitting at Miami International Airport and taking advantage of the more than three-hour delay of the Lufthansa flight "back to Germany" by capturing the fresh impressions of the 6th North American Bitcoin Conference , And there are countless of these impressions and new experiences, so that these must first be ordered and not all fit into an article.
The scene, which started this conference six years ago (at that time with 35 participants, this year with 4,000!), Lives the subject of crypto and blockchain. Someone who has not yet dealt with the topic and comes to this conference without prior knowledge, would probably believe that he has landed in a parallel universe.
Because: The paper money (fiat money) of the central banks is no longer in this crypto universe.
On the contrary, the scene's early freaks, who bought or mined Bitcoin at a rate of a few cents (or at least below $ 1), and literally brought the Bitcoin system to life, think in quite different categories. Almost all are convinced that banks and central banks will be superfluous in a few years and that we are still at the beginning of this historic revolution.
Jeff Berwick, one of the scene's ultra-libertarian anarcho-capitalists, put it in a nutshell: the basic idea of Bitcoin was to return the power of money and money creation back into the hands of the people.
Because central banks and the system of money creation have led to devastating wars, inflation and inequality in the world over the last 100 years. Billions of people still have no access to the international banking system, while many of the poor, even in Arfika, now own a smartphone. This smartphone is the ticket to the cryptosystem and with cryptocurrencies it would no longer need a banking system in the future. Because the "bank account" leads you with his wallet always with, or each person is thereby "his own bank".
A US Federal Banker once said, it does not matter who is in power. Anyone who controls the monetary system can control any government. If all people were to flee into decentralized crypto-money, central banks and their influence or their indirect dependence on the money-makers would be gone! That's the big vision - at least that's what it was and still is with most Bitcoin users of the early days.
Blockchain technology could lead millions of poor people in undeveloped countries out of the poverty trap.