Crypto News | CoinDesk Consensus 2018 Kicks Off in NYC

Cryptocurrency conferences today are both a very lucrative business and a contentious issue. One of crypto’s biggest celebrities, Vitalik Buterin, decided to boycott CoinDesk Consensus 2018, which kicks off today in New York City. Among other things, Buterin wasn’t very happy about the jacked-up prices, averaging $2,000 per ticket. With 4,000 attendees, the conference will make $8 million easily, so no wonder they can afford to sport a beer vending machine. CoinDesk Consensus 2018 will last three days, from May 14 to May 16, and it will take place at the New York Hilton Midtown Manhattan Hotel. Three years ago, there were 400 attendees. The number quickly grew to 2,700 last year, while this year’s Consensus will easily be the biggest one ever, indicating the increasingly important role these summits and conferences have to play in the crypto ecosystem. Last year’s Coindesk Consensus helped Bitcoin rise above $2,000, while November’s “Consensus Invest” conference oversaw Bitcoin’s climb over $10,000 for the first time. The panelists include government officials, start-up leaders, and mainstream industry big wigs, such as Jack Dorsey, co-founder of Twitter. The event is a huge catalyst of success, since everybody wants to be “on the map” and everybody wants to find a sponsor. Tom Lee of Fundstrat Global Research said that Bitcoin has traditionally always rallied 10 to 70 percent during major conferences, predicting that this year, all cryptocurrencies should rally substantially, seeing by how much the number of attendees has increased.

As far as future predictions are concerned, the fact that Chris Matta, the vice president of Goldman Sachs, decided to leave his post to pursue crypto investment opportunities can definitely be interpreted as a bullish sign. Only two days after getting promoted to vice president, Matta left Wall Street to set up Crescent Crypto Asset Management with Ali Hassan and Michael Kazley, his new partners. Although leaving Goldman Sachs meant giving up a massive yearly bonus, Matta described the move as a “calculated risk”, saying that, in the world of cryptocurrencies, a month is like a year, so it was necessary to move fast.

Matta and his partners weren’t dissuaded by 2018’s bear market, much like crypto enthusiasts in South Africa. According to the MyBroadband 2018 Cryptocurrency Survey, those South Africans who still haven’t invested in crypto are very much interested in doing so and many of them are planning on investing in the near future. After surveying 1,244 readers, the researchers found that 50% of respondents who currently do not own and have never owned cryptocurrencies plan on investing this year. Of the 50%, 25% will invest in crypto only, 15% will invest both in cryptocurrencies and crypto mining, while 7% will invest in mining exclusively. South Africa has been experiencing a lot of political and economic uncertainty as of late, which is why Bitcoin’s popularity in the country can be explained as the citizens looking for a safe haven from the various issues.


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Author: Max Rothstein

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