What other noteworthy remarks and phenomena are there at the Bitcoin conference besides Trump's speech?

Source: DL News, The Block

Compiled by: Felix, PANews

On July 27 local time, the 2024 Bitcoin Conference concluded in Nashville, Tennessee. The conference became a hot topic of discussion recently due to the participation of Trump and a host of other well-known speakers, bringing cryptocurrency back into the national spotlight.

Notably, Trump's speech claimed that if elected, he would establish a national strategic Bitcoin reserve and would dismiss SEC Chairman Gary Gensler on his first day in office, which gave crypto enthusiasts a glimmer of hope that the current government might end its hostility towards cryptocurrency, boosting market confidence. Besides this, who else made remarkable statements at the conference, and what phenomena are worth noting?

Presidential Candidate Robert F. Kennedy

The most active participant at the Bitcoin Conference was U.S. presidential candidate Robert F. Kennedy.

Kennedy promised at the Bitcoin 2024 conference that if elected president, he would issue three executive orders related to Bitcoin.

• Direct the U.S. Department of Justice and the U.S. Marshals Service to transfer approximately 200,000 Bitcoins held by the U.S. government to the Treasury Department as "strategic assets."
• Plan to sign a separate executive order directing the U.S. Treasury to purchase 550 Bitcoins daily until the U.S. reserves reach 4 million BTC. "Our country holds about 19% of the world's gold reserves. This policy will allow us to acquire a roughly equivalent proportion of Bitcoin. This chain reaction and these actions will ultimately drive Bitcoin's valuation into the trillions of dollars."
• Plan to issue guidelines declaring that all transactions between Bitcoin and the U.S. dollar are non-reportable and tax-exempt.

As a competitor, Kennedy also launched an attack on Trump's cryptocurrency-related positions at the conference. He criticized, "I welcome Trump's newfound enthusiasm for BTC, but it has only been a few weeks since he started talking about BTC comprehensively. Moreover, Trump said in 2021 that BTC was just a scam. Bitcoin is closely related to our values. Trump needs to explain how his personal values align with those of Bitcoin holders."

Senator Cynthia Lummis

In addition to Trump, Wyoming Senator Cynthia Lummis also announced positive news at the conference. Lummis stated that she would propose a plan this week directing the U.S. Treasury to purchase 1 million Bitcoins over five years (valued at approximately $68 billion at current prices). She indicated that this move is intended to offset the effects of dollar depreciation.

"Bitcoin is a great store of value. Over the past four years, it has grown about 55% annually. During the same period, the dollar has depreciated, and we have seen inflation rise. Therefore, I believe it is valuable to have a hard asset that supports the dollar and appreciates rather than depreciates."

The bill will require the U.S. Treasury to securely store Bitcoin in "multiple geographic locations." The government will hold these tokens for at least 20 years unless they are sold to "reduce debt."

Lummis stated, "Through digital modeling of Bitcoin and past experiences, we know it can fundamentally change the debt and deficit crisis the U.S. is in." Additionally, the U.S. Treasury should also hold approximately 210,000 BTC accumulated through criminal seizures by the Department of Justice and other agencies.

Lummis has long been a supporter of Bitcoin. She purchased her first batch of Bitcoin in 2013 and has been at the forefront of advocating for cryptocurrency legislation.

Edward Snowden

Former NSA employee Edward Snowden emphasized the pitfalls of political loyalty and privacy issues surrounding Bitcoin in his keynote speech at the conference.

He argued that Bitcoin transactions are not anonymous and can be traced back to individuals, posing a risk to personal privacy. Despite the common misconception that Bitcoin transfers offer complete anonymity, Snowden clarified that most transactions can be linked through various channels, such as regulated trading platforms. This connection makes it possible to trace transaction histories, which could reveal sensitive information about users' lives and relationships. Transaction tracking has broader implications, not just for Bitcoin but for all forms of cryptocurrency transactions.

Despite the positive remarks at the conference, not all feedback was favorable.

"Gender Discrimination" Phenomenon

Some individuals pointed out that, like Wall Street and Silicon Valley, the cryptocurrency industry also faces issues of gender discrimination.

According to DL News statistics, only about 13% of speakers at Bitcoin 2024 were women, down from approximately 17% in 2019. In the following years, the proportion of female speakers has fluctuated between 13% and 16%.

Public speakers at Bitcoin conferences from 2019 to 2024

Additionally, a study found that from 2016 to 2018, women accounted for 25% of keynote or solo speakers at global tech conferences. Another survey across various industries found that the number of male speakers still doubled that of female speakers. According to Forbes, all 17 of the richest billionaires in the cryptocurrency industry are men.

Meanwhile, malicious posts about women are rampant on crypto Twitter.

Many people on X use profane and misogynistic terms to describe long-time cryptocurrency critic Senator Elizabeth Warren. Some even created a Memecoin named WHOREN, clearly referencing this senator.

A nonprofit organization advocating for women's participation in Web3, the Association of Women in Cryptocurrency, recently released a report highlighting gender disparities in the industry.

At the end of 2023, the organization surveyed about 400 women in the cryptocurrency industry and found that 82% of respondents believed there was sexual harassment in the industry.

The Bitcoin 2024 conference invited British artist Russell Brand as a speaker. However, four women have previously accused him of sexual assault, including rape. Russell Brand, who is under investigation by the British police, has denied these allegations.

This is not a good look for an industry that is about to be mainstreamed.

It is worth mentioning that some cryptocurrency companies have taken steps to resist the issue of "gender discrimination." For example, the London-based company Zodia Custody dropped its partnership with Copper after the latter hosted a rather risqué party at an industry conference in March this year.

Neel Somani, founder of blockchain Eclipse, left the company after allegations of inappropriate behavior circulated on X, with investors urging him to step down.

The Bitcoin 2024 conference has also considered gender inclusivity. According to the conference agenda, a "Women's Brunch" will be held on the 25th.