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October 16, 2018

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Coindesk Consensus Conference 2018

Coindesk Consensus Conference 2018
Every summer since 2015, the cryptocurrency market has seen an uptrend after the Coindesk Consensus conference - 2018’s is taking place today through Wednesday.
History has a tendency to repeat itself. Will this happen again? Every year the Consensus conference introduces hundreds of blockchain and cryptocurrency projects to a new population of potential employees, startup founders, journalists and computer programmers.
Bitcoin to $20,000? Ethereum to $1,000… or some might say (Roger Ver Interview) to overtake BTC this year? Time Draper has predicted that BTC will reach $250,000 by 2022.
The prices seem to set a standard, but the reality is that the adoption levels of cryptocurrencies are tiny. There are still billions of people to benefit form the technology, and billions of dollars on the table. This visualization puts into perspective how much room the cryptocurrency market has to grow.
Bitcoin’s market cap is just about $150 billion right now. Globally, there are well over $7 trillion in other currencies, as well as over $7 trillion in gold. There are over $73 trillion dollars invested in traditional stock markets. The money supply worldwide is well over $100 trillion. Even eating into 1% of this would bring meteoric rises to cryptocurrencies.
4th Annual Blockchain Technology Summit
Consensus 2017 had around 2,700 attendees. This year Coindesk expects attendance to exceed 7,000. Tickets are $3,000 - meaning over $2 million in ticket sales. Some have argued that the conference is more of a business plan for Coindesk than it is to truly benefit the industry.
Vitalik Buterin on Consensus
A series of tweets two weeks ago, points to this change, and the irresponsible nature of of Coindesk’s media distribution. He began by overtly condemning the conference:
“I am boycotting @coindesk‘s Consensus 2018 conference this year, and strongly encourage others to do the same. Here is my reasoning why.”

  1. Coindesk consistently enables scams. They are willing to take the advertising profits without consideration for the nature of the company.

  2. They specifically misquoted Viitalik recently in order to create a more sensationalized article, and refused to correct it.

  3. Their information policy sets up a catch-22, where Coindesk can deny any request that anything requested “off the record” can be denied

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