THE “world’s first Bitcoin music festival” and “Shark Tank” will be held during the Miami 2022 crypto conference, which kicked off on Wednesday.
The music festival is called Sound Money Fest and will feature several artists including Logic, Steve Aoki and Run the Jewels. The festival will close the conference on April 10.
The Bitcoin Conference is being held at the Miami Beach Convention Center from April 6-9, and on the first day, a technical version of Wall Street’s Charging Bull was unveiled and stole the show, tweet of the revealed conference.
More than 6,000 industry leaders, 80 different speakers and more than 4,000 companies are expected to attend the event, according to the conference website.
The conference will also feature a “comedy hour”, featuring Hannibal Buress.
Interestingly, on the first day of the event, the price of Bitcoin was down. Bitcoin saw a price change of -3.66% in the last 24 hours on Wednesday morning and had a price of $44,941.97, according to Coinbase.
Read our Bitcoin 2022 live blog for the latest news and updates…
Celebrities and NFTs
Fashion brands, sports leagues and celebrities have all taken to the NFT trend, which has exploded in popularity in 2021.
The likes of Paris Hilton and Grimes launched a series of NFTs that quickly sold out.
Grimes also raised $6 million by auctioning several digital artworks through the NFT Nifty Marketplace.
Snoop Dogg has revealed that he is a famous legendary white whale in the NFT world and has raised over $17 million in NFT items.
Banks are embracing crypto, continued
Big bank executives are starting to jump on the cryptocurrency bandwagon as some invest their time in learning about the new mode of payment.
Bank of America spokesman Mark Pipitone told The New York Times, “The bank sees potential in blockchain, and we are currently one of the top patent holders in the field with over 160 patents. But we still haven’t found a large-scale use to improve the financial lives of customers and customers. »
Banks are embracing crypto
Banks are paying to slowly catch up with the future of cryptocurrency as they struggle to benefit and profit from it.
As cryptocurrency start-ups explode, they begin to offer credit cards and loans while banks are left behind.
According to the New York Times, “Bank of America chief executive Brian Moynihan has banned the giant corporation’s wealth managers from placing his clients’ money in cryptocurrency-related investments.”
Fake websites and crypto
A fairly common scam technique involves websites that appear to be a new cryptocurrency mining operation or investment opportunity.
The sites encourage investors to transfer money, sometimes offering “tiers” of investment and promising higher returns.
But when users attempt to withdraw their money, they cannot and are told to grab even more cryptocurrency.
What are the red flags for scams?
Gizmodo shared that other red flags of the SQUID coin being illegitimate was that the website the creators launched was filled with spelling and grammar errors.
The crypto telegram channel also did not allow comments from strangers, and its Twitter account did not allow users to reply to messages, which Gizmodo flagged as suspicious.
How to Check for Blockchain Scams
Cryptocurrencies operate on blockchain networks.
Scammers will often claim that their blockchain is “in development” or “about to be released”, but all legit cryptos will have an accompanying website to verify the currency.
Users can type the name of the crypto into any search engine with the phrase “blockchain explorer” or “blockchain analysis” to find the connected blockchain, if it even exists.
A 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’m going to look on the FBI site and lo and behold, there’s this public alert about this type of scam,” he told the outlet. “I’m 52, all my savings gone in a month.”
The common scam of meeting someone on a dating app, depositing money into a fake investing app (which is constantly being changed, renamed or deleted) and then losing it all is called ” Pig Butchering Scam,” detailed KMGH-TV.
A Man Loses $1.6 Million Part Two
The man said he successfully deposited funds into the account, including money from his retirement accounts.
He could also have withdrawn some cryptocurrency, until he tried to withdraw more.
A “customer service agent” from the app told him “you must repay the loan before you can withdraw money from your account,” KMGH-TV reported.
Man loses $1.6 million in scam
A man says he lost all his life savings in a scheme called the “pig butcher scam”.
The 52-year-old told Denver ABC affiliate KMGH-TV that he met a woman on a dating app who appeared to have similar interests to him.
The conversation turned to cryptocurrency, something he had made about $70,000 on in a few years.
The man told the outlet that the woman he fell in love with online convinced him to invest in a mobile and web app that seemed legit to the software engineer.
Crypto Scams and Dating Apps
Some cryptocurrency scam operations have started using dating apps to attract potential targets.
In some reports, the scammers pose as a long-distance lover sharing a new cryptocurrency opportunity.
About 20% of money lost to dating scams over the past year is believed to have involved cryptocurrency.
$7.7 billion lost to scammers in 2021
Over $7.7 billion worth of cryptocurrency was stolen globally in 2021.
The revelation came in a report by blockchain data firm Chainalysis, which also found that scams involving crypto increased by 81% from last year.
Scams were the biggest crypto-based crime with fewer individual scam 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’re building on the success of bitcoin by slightly tweaking the rules, economics, or use cases to appeal to different users.”
“Altcoins vary widely in their use cases and practical application. They typically have some form of technology that they underpin or provide a liquidity solution to a product or service.
What is an Altcoin?
Altcoin stands for alternative coin, a type of virtual currency that uses the so-called blockchain to enable secure transactions.
Altcoin is a category of cryptocurrency rather than a currency itself, and there are over 900 different altcoins available.
Gear up at the conference store
A merchandise store is featured as part of the Miami Bitcoin conference.
Participants can purchase Bitcoin products including shirts, books, hats, and hardware wallets.
“The Future of Financial Forecasting”
On Friday, April 8, four speakers will lead a presentation entitled “The Future of Financial Forecasting”.
It will take place at 1:05 p.m., during the Bitcoin conference in Miami.
catch a glimpse
Take a look at what GA ticket holders are experiencing this week at Bitcoin Conference 2022.
Is there a Bitcoin 2022 live stream?
There is a live stream for Bitcoin 2022 that people can watch if they can’t make it to Miami.
Bitcoin Magazine is live streaming the event on YouTube.
Is Serena Williams speaking at Bitcoin 2022?
Serena Williams is indeed set to speak at the Bitcoin 2022 cryptocurrency event in Miami this year, according to the event’s speaker list.
“The future of finance is in Miami”
Miama Mayor Francis Suarez unveiled the 2022 Bitcoin version of a charging bull at the convention on Wednesday and tweeted“The future of finance is in Miami, and the capital of capital now has its own bull.”
Who Created the 2022 Bitcoin Bull?
Plantation, Florida TradeStation CEO John Bartleman spoke to Bloomberg and said of Miami, “It’s hard to deny that this is an incredible opportunity for businesses to come here and grow their crypto project.”
It was his company that commissioned “an 11-foot (3-meter) robotic statue of a bull intended to mimic Wall Street’s ‘Charging Bull’,” the outlet reported.
Miami Mayor Francis Suarez revealed the artwork to the crowd of crypto enthusiasts on Wednesday as the conference kicked off in Miami Beach.
Possible announcement by President Bukele
During the Bitcoin 2021 conference last June, President Nayib Bukele of El Salvador announced his intention to make Bitcoin legal tender in his country, according to Coindesk.
He was also expected to make an announcement this year, which the site said should include a progress report on El Salvador’s plans to sell $1 billion in Bitcoin bonds.
President Nayib Bukele cancels appearance
Salvadoran President Nayib Bukele has 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 soared in March
However, despite this prediction, Bitcoin’s value actually increased in March 2022.
Bitcoin prices soared after Russia said it could try to dodge current sanctions by selling oil and gas as cryptocurrency instead.
Its value soared about five 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
At the end of December, some experts predicted that Bitcoin would collapse in 2022.
Carol Alexander, professor of finance at the University of Sussex, believed that the value of Bitcoin could soon fall.
She previously told CNBC that Bitcoin would “probably crash” in 2022.
The professor warned last year: “If I was an investor now, I would think about getting out of Bitcoin soon because its price will probably crash next year.”
She called Bitcoin more of a “toy” than an investment.
Bitcoin price drops
The price of Bitcoin declined slightly as the first day of Bitcoin 2022 continued.
According to Coinbase, Bitcoin was down -4.29% in the past 24 hours as of 3 p.m. Wednesday, from -3.66% that morning.