Bitcoin 2022 news LIVE – Miami crypto conference gets underway tomorrow with a 'Bitcoin Shark Tank' set to be held

SOME of the world's highest crypto investors are set to hit Miami this week for the 2022 Bitcoin conference.

The Bitcoin conference is being held at the Miami Beach Convention Center from April 6 to April 9.

More than 6,000 industry leaders, 80 different speakers, and more than 4,000 companies are set to take part, according to the conference.

A "Bitcoin-style Shark Tank" has also been advertised, along with the "world's first Bitcoin music festival" to close out the event on April 10.

Read our Bitcoin 2022 live blog for the latest news and updates…

  • Carsen Holaday

    How risky are NFTs?

    Buying an NFT, like any collectible, is a risky bet on the value going up.

    If there is no demand for the NFT you buy then you could end up paying a large amount for something that declines in value or that you cannot sell.

    NFTs are still a new market so there is unlikely to be the same demand you will find for other physical items such as trading cards, art or classic cars.

    You could also create your own NFT but there is no guarantee of a buyer and you could end up wasting your time and money.

  • Carsen Holaday

    What is an NFT?

    Cryptocurrencies are really collections of computer code but coins such as Bitcoin or Dogecoin have recognizable logos.

    A non-fungible token digitizes a piece of work such as art or music and turns it into an NFTthat is stored on the blockchain.

    That means it cannot be replicated and is unique to whoever owns it.

    Crypto commentator Jonathan Marriott said NFTs provide a legitimate way of verifying ownership and tracking the origins of an item.

    He said: "An NFT lets you record where and when something is made and track the whole process to verify that it is legitimate.

    "The public blockchain element makes it irrefutable. No one can fake it."

    He said medical and food manufacturers could use it so consumers can follow the supply chain so they know where their products are coming from.

    Alternatively, an NFT could be created alongside a new trainer so you know if your pair of pricey sneakers are genuine.

  • Carsen Holaday

    What are metaverse cryptocurrencies?

    Metaverses are sprawling universes that users access via a computer or virtual reality headset, allowing you to work and play in a fictional, digital realm.

    In order to truly become fully immersive worlds with their own economies, they need a currency – and that's where crypto steps in.

    Metaverse cryptocurrencies can typically only be spent in the metaverse they're tied to. You buy them through each virtual universe's in-game store.

    The coins can be used to buy in-game items, such as land or items which can then be traded with other players.

    Like any other crypto on the market, their values go up and down – sometimes unpredictably.

    Remember, buying cryptocurrencies and decentralized finance tokens is a risky way to invest.

  • Carsen Holaday

    Why have crypto markets been down?

    Twitter's chief financial officer Ned Segal said at the end of last year that investing in crypto "doesn't make sense right now", causing concern among Silicon Valley buyers.

    China also announced plans to clean up virtual currency mining, according to CNBC.

    Many crypto-mining regions in China are now radically reducing operations.

    Previous moves by the country to crackdown on mining and trading of crypto has previously sent markets plunging.

    And the unrest in Eastern Europe has contributed to the fall because investors tend to shun risk-sensitive assets during uncertain times. 

  • Carsen Holaday

    How are cryptocurrency transactions recorded?

    Within a blockchain, a series of blocks containing a timestamp and transaction data exists.

    It's basically a virtual bank ledger, without the formal backing of an actual bank.

    A cryptocurrency wallet exists for the purpose of sending or receiving digital currencies.

    Cryptocurrency networks exist via computer, which is known as a node.

    A node works to support the relevant network through transactions, validations, or copies of the blockchain.

    Timestamping is used to essentially prove the validity of cryptocurrency transactions within a blockchain ledger.

    There are various methods of timestamping, including proof of work and proof of stake.

  • Carsen Holaday

    What is cryptocurrency?

    Cryptocurrency is formally defined by Dr Jan Lansky – a professor proficient in computer science, mathematics, and economics – as a system that meets six conditions:

    • The system does not require a central authority
    • The system keeps an overview of cryptocurrency units and their ownership
    • The system defines whether new cryptocurrency units can be created
    • Ownership of cryptocurrency units can be proved exclusively cryptographically
    • The system allows transactions to be performed in which ownership of the cryptographic units is changed
    • If two different instructions for changing the ownership of the same cryptographic units are simultaneously entered, the system performs at most one of them

    What is Bitcoin?

    Bitcoin is a virtual currency created in 2009 by an unknown computer user under the alias Satoshi Nakamoto.

    Unlike physical currencies such as pounds, dollars or euros, which come in physical notes and coins, Bitcoin isn’t printed or minted.

    Bitcoin tokens are a digital-only form of payment and are created by a computer code.

    The value of Bitcoin is determined by how much people are willing to exchange it for and it’s price has fluctuated wildly since it was introduced

    Five stages

    Over 500,000 square feet, Bitcoin 2022 will offer five unique stages for performances, discussions, workshops, and presentations.

    Who will speak at the conference?

    The extensive list of people who will speak at the conference includes:

    • Yeonmi Park
    • Nayib Bukele
    • Peter Thiel
    • Odell Beckham Jr
    • Olaoluwa Osuntokun
    • Jo Jorgensen
    • Aaron Rodgers
    • Francis Ngannou
    • Senator Cynthia Lummus

    And many more notable speakers.

    • Carsen Holaday

      'Nothing short of a revolution'

      From April 6 to April 9, the world’s largest Bitcoin conference will take place at the Miami Beach Convention Center in Florida.

      On the event's website, the conference is referred to as "nothing short of a revolution."

      "Bitcoin 2022 is a four-day pilgrimage for those seeking greater freedom and individual sovereignty," the site says.

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