Bitcoin Asia 2024: MASSIVE BTC Narrative is COMING!

Boxmining

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Description

We went to Bitcoin Asia 2024 last week and the atmosphere is WILD! It's really surprising to see a Bitcoin event packed full of people. What's interesting is that nearly half of the attendees are BTC ...

We went to Bitcoin Asia 2024 last week and the atmosphere is WILD! It's really surprising to see a Bitcoin event packed full of people. What's interesting is that nearly half of the attendees are BTC whales and miners from Mainland China, and a lot of them are showing huge interest in BTCFi, Bitcoin layer-2s, and ordinals. This is strange because they are known to HODL Bitcoin, but now they are spending it?! Here's what happened. CARV Nodes Whitelist: https://docs.google.com/forms/d/e/1FAIpQLSef5UNUcjOEy0QYKxvu1FDx4-O3Jp6UdRQKh7vNy-sT0MrJQw/viewform?usp=send_form 🌼 GET $30,000 in rewards on Bybit: https://partner.bybit.com/b/boxyt BingX Sign-up Bonus: https://bingx.com/invite/QP0XYB Join our Discord: https://discord.gg/UgJd5JPx3Z ●▬▬▬▬▬▬▬Recommendations▬▬▬▬▬▬▬● 📲Binance Exchange: http://boxmining.co/binance 📖 Guides, tutorials and insights: https://boxmining.com/ 🔒Hardware Wallet: http://boxmining.co/ledger 👍🏻Brave Browser: http://boxmining.co/brave ●▬▬▬▬▬▬▬▬▬▬Community▬▬▬▬▬▬▬▬▬● Boxmining clips: https://www.youtube.com/channel/UCjFy3VBgOZanySOLhQu6GaQ Boxmining News Website: https://www.boxmining.com/ Telegram Group: https://t.me/BoxminingFam ●▬▬▬▬▬▬▬▬▬▬▬Social▬▬▬▬▬▬▬▬▬▬▬● Twitter: https://twitter.com/boxmining Discord: https://discord.gg/9qCpqpZm8G Facebook: https://www.facebook.com/boxmining ●▬▬▬▬▬▬▬▬▬▬DISCLAIMER▬▬▬▬▬▬▬▬● Boxmining, including its employees, are not affiliated with and do not endorse or sponsor any token sales, initial coin offerings, initial exchange offerings and/or airdrops (the “token sales”) unless clearly disclosed. The contents of these videos are for information purposes only. Boxmining and its employees do not provide investment advice and do not take one’s personal circumstances into consideration when providing information about token sales and cryptocurrency exchanges or platforms. In light of the above, Boxmining and its employees may hold the cryptocurrencies mentioned in the videos. Please note that there are legal requirements in various countries that may restrict token sales, and furthermore, the access to, and products and services provided by any of the cryptocurrency exchanges or platforms mentioned in these videos. Consequently, the contents of this video are not directed at or intended to be accessible by persons in any jurisdiction where the extension of the availability of the materials to which you are seeking access would breach any applicable law or regulation. Decisions to participate in token sales or to buy, sell or hold cryptocurrencies, as well as the access to and use of any cryptocurrency exchange or platform involves risk. You are also responsible for informing yourself about and observing any restrictions and/or requirements imposed with respect to any such token sale, or the access to and use of any cryptocurrency exchange or platform. You must use your own judgment or consult a professional for advice on such matters.

AI Analysis

The Bitcoin Asia 2024 conference was an eye-opener, signaling a major shift in the long-held narrative surrounding Bitcoin. The event was incredibly lively, filled with people, and quite surprisingly, nearly half of the attendees were Bitcoin whales and miners from Mainland China. These are the folks traditionally known for their "HODL" (hold on for dear life) strategy, yet they were showing immense interest in actively engaging with and even spending their Bitcoin on new innovations like BTCFi, Bitcoin Layer-2 solutions, and Ordinals. This marked a clear evolution from Bitcoin's usual "digital gold" or peer-to-peer payment roles, pointing towards a future where Bitcoin is a foundation for a rich ecosystem of applications.

Here's a breakdown of the key takeaways from the conference:

* A New Vibe at Bitcoin Asia 2024: The conference had a noticeably different atmosphere compared to other crypto events, feeling much more focused on the core Bitcoin ecosystem rather than broader EVM-based (Ethereum Virtual Machine) projects. It was buzzing with energy, and the sheer number of attendees, especially the unexpected presence of Chinese Bitcoin whales and miners, highlighted a burgeoning interest in new Bitcoin functionalities. It was genuinely surprising to see these long-term holders actively exploring ways to use their Bitcoin beyond just storing it.

* The Urgency for Bitcoin Layer-2s (L2s): A dominant theme was the clear realization that Bitcoin needs to scale. There's no longer any denying that users, developers, and even miners are looking for more ways to interact with Bitcoin beyond just payments or holding it as digital gold. The sentiment was strong: if Bitcoin is truly going to underpin the next financial revolution, it needs to support a wider array of use cases. Miners, in particular, are enthusiastic about L2 solutions because they present exciting opportunities for additional revenue streams. The conference floor featured various L2 projects, like Lorenzo and ZKCM-based solutions, showcasing the diverse approaches being taken to expand Bitcoin's capabilities.

Ordinals and Runes Blew Up the Ecosystem: The massive success of Ordinals last year was a huge catalyst, making people much more willing to spend their Bitcoin. An attendee even joked that the real reason for the boom was the "10,000X" gains many Bitcoin holders had seen, making them feel much more comfortable using their Bitcoin for new ventures. This explosion of activity has fundamentally changed the Bitcoin landscape. Previously, the Bitcoin community was quite "territorial," with "Bitcoin maxis" preferring to stick to Bitcoin exclusively and not explore other chains. Now, these same maxis are actively seeking and embracing new opportunities within* the Bitcoin chain itself, fostering a new era of development and innovation.

* Bitcoin Art vs. DeFi: A Surprising Insight: An intriguing perspective shared at the conference suggested that the art space (NFTs) on Bitcoin might be even more compelling than the decentralized finance (DeFi) scene. The belief is that Bitcoin art has the potential to attract users from Ethereum and is already growing rapidly, possibly even surpassing Ethereum's art market in size. This could be due to the significant wealth held by long-time Bitcoiners; for someone who bought Bitcoin at $10, spending a Bitcoin on a piece of art might feel like a relatively small expense. In contrast, Bitcoin's DeFi space is viewed as more of a "race" based on technological superiority or financial returns, which might make the unique appeal of Bitcoin art stand out more.

* The Raw Reality of Bitcoin Mining: Unlike typical crypto conferences, Bitcoin Asia featured a dedicated area showcasing hardcore mining equipment. Attendees could get up close to active miners, like Cannon's Avalon miner, and even feel the intense heat they generated. This highlighted the sheer power consumption involved in Bitcoin mining and the critical need for advanced cooling solutions. The presence of these machines, some even for sale, served as a powerful reminder of the physical, energy-intensive foundation that underpins the entire Bitcoin network.

Transcript

What do you think is the biggest reason? To be honest? Honestly, honestly. Honestly? Yeah. Because some of my friends make like 10,000 Ys. That's the reason. Alright? We are in Bitcoin Asia and this is one of the biggest conferences for Bitcoin. And it specifically focuses on the Bitcoin ecosystem. I want to show you guys around because the Bitcoin ecosystem, actually come with me Ron, is relatively different. We've been to token, we've been to the EVM based conferences, but this one actually f...

What do you think is the biggest reason? To be honest? Honestly, honestly. Honestly? Yeah. Because some of my friends make like 10,000 Ys. That's the reason. Alright? We are in Bitcoin Asia and this is one of the biggest conferences for Bitcoin. And it specifically focuses on the Bitcoin ecosystem. I want to show you guys around because the Bitcoin ecosystem, actually come with me Ron, is relatively different. We've been to token, we've been to the EVM based conferences, but this one actually focuses more on Bitcoin. And it's actually a very, very different ecosystem. There's a lot more diff on how Ron needs to find his bracelet actually. Seriously. They just stopped us here because we didn't have a wristband on and it's apparently $250 for a ticket to come in here. That's why they're being pretty anal about wristbands and entry. But hey, we got a pass for you guys. We got the press pass. We'll show you everything that's here. And it's a little bit hard because there's a lot of people and we got to dodge people here. So let's go around. What's kind of interesting for Bitcoin ecosystem is that there's kind of three major narratives that's going on. So first of all, layer two. So a bunch of Bitcoin layer twos are popping up because there's a realization, of course, that Bitcoin needs to scale. Especially after the boom last year from Ordinals, people will not deny any longer that users and developers, even miners, are looking for additional things to do on top of Bitcoin besides just P2P payments, digital gold. Sitting there. Yeah, just sitting there, right? I mean, if Bitcoin is going to be the basis and the foundation of the next financial revolution, it has to accommodate for more use cases than just trading and hodling. Right. So, yeah, I think the time has come. And I think miners especially, they love to receive additional revenue as a result of the right layer two solution being integrated on Bitcoin. Before we go further, we have a cool opportunity for this. Well, I actually caught the opportunity, but this opportunity is limited to viewers of this channel and it is for Carve. So I'm actually not sponsored to say this, like a lot of people, they have funds, but this one was actually for whitelist for Carve nodes. Carve, what it is, is basically a data layer for gaming and for AI. It essentially allows the storage and private storage of information on those layers. What's interesting is that during a very limited node sale and why we kind of feature this is because we saw projects in the past like Zy, like Myria, like Ethereum with their nodes that were going out for cheap. And then the prices increase over time. What we have right now for our community is we have the tier four, tier five and tier six nodes. What's kind of important is that you sign up and they get to, they choose who to give it to. So it's a kind of a raffle process. People ask me to pass for something like this. So if you guys like that, make sure you're subscribed to this channel and also have access to our Telegram channel as well. Leave the links down below. But yeah, if this is interesting for you. Back up. So, okay. So I got layer twos. Let's look around here. So this is like the layer two corner. They got your Bitcoin layer. You got your Lorenzo big one layer two solution. So, you can pop it up around. And you can see also ZKCM based. Bitcoin based. Yeah. Do you want to come on camera and say some stuff? Yeah. Somehow, I think the layer two is definitely very interesting. And it seems a lot of people start to create like, try to create different protocol based on Bitcoin. I think it's all because Audino's, you know, it was very successful. So it grew up, right? Yeah, it grew up and it's Unisept. What was the reason, Dipan? What do you think is the biggest reason? To be honest? Uh-huh. Honestly, honestly. Honestly? Yeah. I think Bitcoin made like 10,000 X. That's the reason. Alright? So it's where 10,000 X's happened. Yeah, that was, yeah. That was, I think it was last year. Yeah, last year. So that just blew up the ecosystem. So people are willing to spend money now. Yeah. And you definitely see a different vibe here. So I think that's quite interesting is that the Bitcoin ecosystem is quite territorial. So people who like Bitcoin, there's much more maxis and they're much less willing to go on different chains and things. And explore different chains. So they rather have everything built on Bitcoin chain rather than moving. We're seeing it evolve into like ordinal, runes and like all these Bitcoin projects that we didn't see in the past before. Because before there's like nothing to offer. It's just like Bitcoin maxis, right? Right, right, right. Yeah, it's an interesting development. Yeah, and I think so too. I've seen a lot more people like Bitcoin maxis looking for new opportunities. Yeah. No corner. All right. And then we've come to the last corner and this is mining, which is yet again, you don't see in other conferences like hardcore mining equipment. This area is a lot hotter than the ones at the back. A lot of people here are sweating. These miners are. Oh, so this is Cannon's Avalon miner. So they're mining right here. All right. And you can feel the heat as well. So this is when you feel the heat when you're passing through. Actually it's here. It's never mind. The heat is here. So you can actually just feel the heat coming out on the Avalon miner. So this is why you need extreme cooling solutions for mining because the amount of power that's needed. This is basically a portable fan unit. Oh, feel it. Feel it. Unfortunately, we cannot interview them because they're not happy to be on camera. But they're selling miners here. Yeah. Guys, I hope you like our mini coverage. And before we show you the interviews, I want to call you to do something, which is subscribe to Alpha Drop. So essentially what happened is that our second channel, BoxMiningPlus, it got banned and deleted from YouTube for no particular reason. And we created a second one called Alpha Drop, which covers essentially live stream. Same thing. Casual, leading edge, airdrops, updates. We've got Ron here. Ron, do you want to say hi? But hi, Ron. Ron's here. Hi. How's it going? And we're trying to grow this as fast as possible to recover from the damage that YouTube dealt. So we want to continue giving you guys the top intel. So make sure you subscribe to Alpha Drop. Links down below as well. Layer 2 in general, I'd say covers ordinals and runes. Everything in BDC, I'd say like layer 2 is half DeFi, half NFT art. So I think the art space is more interesting. The art space is more interesting. Eventually, eventually. Really? Okay. So you think art is going to be big for Bitcoin? I think DeFi is all going to be a race to either the technology, which gets more interesting. Or it's just returns, right? Right, right, right, right. But I think the art space, it's interesting to see how they can grab some from Ethereum. You can see the size is already eclipsing, right? The DeFi space, you haven't quite eclipsed Ethereum yet. Right, right, right. Because some people bought Bitcoin at $10. So for them throwing a Bitcoin at a piece of art is like… Yeah, yeah, yeah, yeah. Yeah, yeah, yeah. Yeah, yeah, yeah. I think CryptoPunks is very limited exposure. So this is more like free space, free styling for a while. My first time here in the Bitcoin event in Hong Kong. Oh, really? Yes. Nice, nice, nice welcome. Where did you come from? From Thailand. From Thailand. Oh, wow. Okay, so are there any particular things you're looking for coming here? Just looking to see the good innovation and also looking around for the opportunity. Opportunity. Okay, so in terms of opportunity, where do you think has the biggest opportunity? Like Bitcoin, Ethereum, altcoins, memecoins, where's the biggest opportunity? My focus is Bitcoin obviously, but the price is already high. So maybe some coins and some other coins. Okay.