THE “world’s first bitcoin music festival” and “shark tank” are taking place at the 2022 Crypto Conference in Miami, which kicked off Wednesday.
The music festival is called Sound Money Fest and will feature multiple artists including Logic, Steve Aoki and Run the Jewels. The festival will conclude the conference on April 10th.
The Bitcoin Conference will be held April 6-9 at the Miami Beach Convention Center and on day one a techy version of Wall Street’s Charging Bull was unveiled and stole the show, tweets revealed by the conference.
According to the conference website, more than 6,000 industry leaders, 80 different speakers and more than 4,000 companies will attend the event.
The conference also features a “Comedy Hour” starring Hannibal Buress.
Interestingly, the price of Bitcoin had fallen on the first day of the event. Bitcoin saw a price change of -3.66 percent in the last 24 hours as of Wednesday morning and was priced at $44,941.97 according to Coinbase.
Read our Bitcoin 2022 Live Blog for the latest news and updates…
How to Check for Blockchain Scams
Cryptocurrencies work on blockchain networks.
Scammers often claim their blockchain is “in development” or “about to be released,” but all legitimate cryptos have an accompanying website to verify the currency.
Users can type the crypto’s name into any search engine with the phrase “Blockchain Explorer” or “Blockchain Scan” to find the connected blockchain, if it even exists.
Man loses $1.6 million, part three
The app demanded $1.5 million from the victim and threatened to freeze his account if he didn’t pay.
“I go to the FBI website and lo and behold there is this public warning about this type of fraud,” he told the news agency. “I’m 52, my entire life savings will be gone in a month.”
The common scam of meeting someone on a dating app, depositing money into a fake investment app (which keeps changing, rebranding, or deleting) and then losing everything is called a “pig butchering scam,” KMGH details -TV.
Man loses $1.6 million part two
The man said he successfully deposited money into the account, including money from his retirement accounts.
He was also reportedly able to withdraw cryptocurrency until he tried withdrawing more.
A “customer service representative” with the app told him, “You must pay off the loan before you can withdraw cash from your account,” KMGH-TV reported.
Man loses $1.6 million in fraud
A man says he lost his life savings in a scheme dubbed a “pig slaughter scam”.
The 52-year-old told KMGH-TV, a Denver ABC affiliate, that he met a woman on a dating app who appeared to have interests similar to his.
The conversation turned to cryptocurrency, something that had made him about $70,000 in a couple of years.
The man told the news outlet that the woman he fell in love with online convinced him to invest in a mobile and web app that the software developer believed was legitimate.
Crypto scams and dating apps
Some cryptocurrency scam operations have started using dating apps to lure potential targets.
In some reports, scammers are posing as long-distance love interests sharing a hot new cryptocurrency opportunity.
About 20 percent of the money lost to dating scams in the last year reportedly involved cryptocurrencies.
$7.7 billion lost to scammers in 2021
In 2021, more than $7.7 billion worth of cryptocurrencies were stolen worldwide.
The revelation came in a report by blockchain data firm Chainalysis, which also found that scams involving crypto are up 81 percent compared to last year.
Fraud was the top crypto-based crime with fewer individual fraud victims in 2021 but higher average loss per victim, Yahoo Money reported.
What are altcoins, continued
Simon Peters, crypto asset analyst at eToro, said, “They are building on Bitcoin’s success by slightly changing the rules, economics or use cases to appeal to different users.”
“Altcoins vary greatly in their use cases and practical application. They usually have some type of technology underpinning them or provide a liquidity solution for a product or service.”
What are altcoins?
Altcoin stands for alternative coin, a type of virtual currency that uses something called blockchain to enable secure transactions.
Altcoin is a category of cryptocurrency rather than a currency itself, and there are more than 900 different altcoins available.
Equip yourself in the conference business
A merchandising store will be presented as part of the Bitcoin conference in Miami.
Participants can purchase bitcoin merchandise including t-shirts, books, hats and hardware wallets.
“The Future of Financial Forecasting”
On Friday, April 8th, four speakers will moderate a presentation entitled “The Future of Financial Forecasting”.
It takes place at 1:05 p.m. at the Bitcoin Conference in Miami.
To catch a glimpse
Take a look at what GA ticket holders are experiencing at the Bitcoin 2022 conference this week.
Is there a Bitcoin 2022 live stream?
There is a bitcoin 2022 live stream for people to watch if they can’t make it to Miami.
Bitcoin Magazine is running a live stream of the event on YouTube.
Will Serena Williams speak at Bitcoin 2022?
According to the event’s speaker list, Serena Williams is actually scheduled to speak at the Bitcoin 2022 cryptocurrency event in Miami this year.
“The future of finance is in Miami”
Miami Mayor Francis Suarez unveiled the Bitcoin 2022 version of a Charging Bull on Wednesday and at the convention tweeted“The future of finance is in Miami and the capital of capital now has its own bull.”
Who created the Bitcoin 2022 bull?
Speaking to Bloomberg, Plantation, Fla.-based TradeStation CEO John Bartleman said of Miami, “It’s hard to deny that this is an amazing opportunity for companies to come here and build their venture in crypto.”
It was his company that “commissioned an 11-foot (3-meter) tall, robotic statue of a bull designed to mimic Wall Street’s ‘Charging Bull,'” the outlet reported.
Miami Mayor Francis Suarez unveiled the artwork to the crypto-loving crowd on Wednesday as the Miami Beach conference kicked off.
President Bukele’s possible announcement
At the Bitcoin 2021 conference last June, President Nayib Bukele of El Salvador announced his plans to make Bitcoin legal tender in his country, according to Coindesk.
He was also expected to make an announcement later this year, which the site said would include a progress report on El Salvador’s plans to sell $1 billion in bitcoin bonds.
President Nayib Bukele cancels his appearance
El Salvador’s President Nayib Bukele canceled his appearance at the Bitcoin 2022 conference in Miami.
A letter from Bukele, shared by the Bitcoin Conference Twitter account, cited “unforeseen circumstances in El Salvador that require his urgent attention.”
Bitcoin price skyrocketed in March
However, despite this prediction, Bitcoin actually increased in value in March 2022.
Bitcoin prices surged after Russia said it could try to evade current sanctions by selling cryptocurrency oil and gas instead.
Its value shot up around 5 percent on March 27 after Putin’s energy chief Pavel Zavalny said it could be used by friendly countries.
Some experts believe Bitcoin will “crash” soon
In late December, some experts predicted that Bitcoin would crash in 2022.
Carol Alexander, a professor of finance at Sussex University, thought that the value of Bitcoin could soon fall.
She previously told CNBC that Bitcoin is “likely to crash” in 2022.
The professor warned last year, “If I were an investor now, I would think about exiting Bitcoin soon because its price is likely to crash next year.”
She referred to Bitcoin as a “toy” rather than an investment.
Bitcoin price is going down
Bitcoin price declined a bit more during the first day of Bitcoin 2022.
According to Coinbase, Bitcoin is down -4.29 percent in the past 24 hours as of 3:00 p.m. Wednesday, compared to -3.66 percent this morning.
The Charging Bull at the Bitcoin 2022 event is clearly stealing the show.
A Twitter user shared photos of the bull with his more famous counterpart in New York City.
Is the US considering banning crypto?
The United States is not among the countries looking to ban cryptocurrencies outright — at least not yet.
In fact, Federal Reserve Chair Jerome Powell previously said there were no intentions to ban cryptocurrencies including Bitcoin.
Events like the Bitcoin 2022 conference can therefore run smoothly for the time being.
Can governments ban cryptocurrencies, continued
The Chinese government, for example, claimed it was concerned about people using digital assets for fraud and money laundering, and eventually banned crypto.
This country and its government have also raised concerns about the environmental impact as well as the potential destabilization of the country’s financial system.
Can governments ban cryptocurrencies?
Some countries have already banned cryptocurrencies completely, including countries like Egypt, Iraq, China and Qatar.
Some might think that the reason cryptocurrencies are banned in some overseas countries is because of too much volatility – but that’s not necessarily true.
A big problem is the scams that users are prone to.
A bitcoin volcano will be on display at the conference, which is “meant to be a nod to El Salvador’s plans to build Bitcoin City at the base of a volcano,” CoinMarketCap reported.
https://www.the-sun.com/tech/5056116/bitcoin-conference-miami-2022-cryptocurrency-sound-money-fest/ Bitcoin Conference Miami 2022 – Logic, Steve Aoki and Run The Jewels play at the crypto conference Sound Money Fest