VLOG: Futurama 2018 - Rocking Dubai with Blockchain

Boxmining

6.1K views 293 7 years ago

Description

Held in the shimmering city of Dubai, the Futurama conference melds technological innovation with tactful insights. I want to share some of the experience and insights, with to Key discussions : Is Bi...

Held in the shimmering city of Dubai, the Futurama conference melds technological innovation with tactful insights. I want to share some of the experience and insights, with to Key discussions : Is Bitcoin a bubble and the Initial Community Offering. https://coinsbank.com/dubai/ Speaking at Blockchain Economic Forum: http://bef.latoken.com/ 40% Discount use coupon code "BOXMINING" 👍🏻Subscribe to Boxmining for Daily CryptoNews and #Altcoin explainers: https://www.youtube.com/c/boxmining 👑Recommended Exchange - Binance: https://goo.gl/joe55C 🔒Hardware Wallet: https://www.ledgerwallet.com/r/428b 📲Mobile Wallet: https://enjinwallet.io/ Brave Browser: https://brave.com/box831 ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● Telegram groups: Telegram Discussion Group: https://t.me/boxminingChannel Telegram Announcements: https://t.me/boxminingChannel ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● ♨️Social: Steemit: https://steemit.com/@boxmining Twitter: https://twitter.com/boxmining Facebook: https://www.facebook.com/boxmining ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● I'm not a professional financial adviser and you should always do your own research. I may hold the cryptocurrencies talked about in the video. ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● I talk about: #Bitcoin #Ethereum #Cryptocurrency #Crypto #Altcoins

AI Analysis

This video shares insights and experiences from the Futurama conference in Dubai, focusing on key discussions around the nature of Bitcoin's value fluctuations and a fresh perspective on what an Initial Coin Offering (ICO) truly represents. The conference provided a valuable opportunity to gauge the local attitude towards blockchain and connect with diverse individuals in the space.

Here are the key takeaways from the conference:

* Dubai's Blockchain Scene: The general attitude towards blockchain in Dubai seems positive, with a lot of potential for money movement into the space. The conference itself felt informal and authentic, fostering genuine connections within the ecosystem. Interestingly, there weren't many ICOs (Initial Coin Offerings) being pitched directly at the event, which was a bit surprising given the hype around them at the time.
* The Bitcoin "Bubble" Debate:
* The long-standing debate about Bitcoin being a bubble has been ongoing for years, even when Bitcoin was much lower in value.
* Miko Matsumura offered a compelling counter-argument to the "Bitcoin is tulips" comparison. He pointed out that if Bitcoin were truly like the Dutch tulip mania, its value would have gone to infinity, crashed to zero, and stayed there forever. Bitcoin clearly doesn't follow this pattern, as it has "died" multiple times, dropping significantly (e.g., from $1,000 to $200-$300) only to rebound and surpass previous highs.
* A better way to understand Bitcoin's price movements is through a "sand pile analogy." Imagine continually piling sand; it forms a pyramid, then a "sand slice" occurs when some of it falls off, but you keep building on top of it again. This cycle of value increases, drops, and subsequent rebuilding is what we see with Bitcoin.
* The reason for this behavior is that we're constantly "testing Bitcoin as a store of value." For something to be proven as a store of value, people need to put money in and take money out. These cycles of investment and divestment are part of the testing process.
* ICOs as "Initial Community Offerings":
* Traditionally, "Initial Coin Offerings" (ICOs) were often criticized as simply a ripoff of "Initial Public Offerings" (IPOs).
* However, Brock Pierce proposed a profound redefinition: ICOs should actually be understood as "Initial Community Offerings." This immediately resonated as incredibly true.
* When a coin is created, it inherently forms a community around it. This is evident with strong communities built around projects like Ethereum, VeChain, and EOS. Even products, dApps (decentralized applications), and exchanges develop their own coins that represent their communities.
* Binance serves as a powerful example of this concept. Initially, it was a Chinese project, but a passionate community formed around it, actively promoting it and even pressuring to have its founder, CZ, featured. This community support was instrumental in Binance's growth and demonstrated the immense power of a coin's ability to foster a community.
This concept highlights the blurring lines between a community, a shareholder, and a product user in the crypto space. While it's crucial to remember that a coin is not* equity and doesn't grant company ownership, the health of a coin's community is directly tied to the project's survival – if the community dies, the project often dies too.
* The actionable takeaway here is the critical importance of building and nurturing a strong community around any crypto project; it's as vital, if not more so, than the technical aspects of the coin itself.

Transcript

Hey guys, how you doing? Honestly, it's exciting. This is the first time I've ever been out at the United Air Memorand. So in this video, I'm going to show you guys what it's like at this conference, the people who are here, and also kind of generally the attitude towards blockchain in Dubai. Because this is one of the objectives of what I wanted to do on my trip here is to see, all right, are there a lot of money moving into this place? What's your attitude towards there? And what's the style ...

Hey guys, how you doing? Honestly, it's exciting. This is the first time I've ever been out at the United Air Memorand. So in this video, I'm going to show you guys what it's like at this conference, the people who are here, and also kind of generally the attitude towards blockchain in Dubai. Because this is one of the objectives of what I wanted to do on my trip here is to see, all right, are there a lot of money moving into this place? What's your attitude towards there? And what's the style like? And you can see one thing that is for sure, it's very hot here. So I'm walking to the conference right now, and it's very apparent that there's no ICOs here. So are you guys surprised that there's no ICOs here? How's it going? This conference is, I think it's really, really cool. Amazing people, good projects here, and it's great. It's actually connecting the ecosystem. And it's a bit more informal, so it's a bit more authentic. Yeah. Of course, one of the main reasons to go to conferences is to listen to new ideas. In the following segment, I'm going to tell you guys two of the main concepts that I learned from the Futurama conference. So Miko Matsumura, he had an interesting view on this Bitcoin bubble debate. And it's been a long debate. We've been hearing about it for almost the past five years. Even in 2012, it was like the word bubble kept springing up, even when Bitcoin was $10, like Bitcoin bubble. So then what's the best way to view it? And I think Miko said a very important point. So people tell me that Bitcoin is tulips. If it's tulips, the graph of the value of Bitcoin should be going to infinity, crashing to zero, and staying at zero forever. And this is clearly not the case with Bitcoin. In fact, Bitcoin has died multiple times. It went up to $1,000, $10 to $1,000, dropped down $200, $300, and it went back up again. So what would be a better word to describe that? And he was describing and viewing it as a kind of a balance of sand, a pile of the sand pile analogy, where you keep piling sand up, it forms a pyramid, and then there's a sand slice when the value drops, and you keep building on top of it again. And he described the reason for this, which is that we're kind of testing Bitcoin as a store of value. Because if you want to test something for a store of value, you got to put money in and take money out. So I think that's a great way to view it. The fact that some people put money in, the value of Bitcoin goes up, and then take money out. We're testing it. Is it a good store of value? Take money back out? Well, yeah, it still held its value, then it crashed to zero. Let's put money back in again. Point number two, and this is about ICOs. So we always viewed it as initial coin offerings. Kind of like people have accused this, that it's a ripoff of the name IPO, the initial public offering. Well, in this argument, Brock Pierce said, well, we got that wrong. It's not the initial coin offering. It's the initial community offering. And this is a point that I was like, immediately, that is so true. Because when you form a coin, you really form a community around that coin. And this is something that's very apparent. You saw a very strong Ethereum community, very strong VeChain community, very strong EOS community. All these are communities, and people really love particular coins. And in fact, products and dApps and even exchanges, they have their own coins too, and that really represents the community as well. One of the best examples for this is Binance. So I did a video on Binance very early. So this is before it really got hot overseas. So it started off as a Chinese project. People found out about it. And a lot of people were coming to my channel saying, you know, we're the Binance community. Look, this exchange is really cool. Talk about it. And, you know, at the start, I'm very apprehensive about talking about exchanges because I'm not sure, you know, especially after experiencing my gawks myself, you know, I'm not sure if these exchanges are secure or not. But people kept pressuring me. People said, oh, yeah, look at this evidence. Look at this. We've been trading on that. And then, of course, we got CZ on an appointment to talk to CZ. And this was a time where I thought, okay, why not? Let's give this guy a shot. So it was the community that really got CZ to come to my channel, bridge it all together, and it really helped Binance Crow. And that's when I saw the power, the community forming power of a coin. So this idea that you're offering a community away, that's very powerful. And it's the blending of the lines as well, because right now, there's kind of, it's a merging of those lines between a community and, of course, a shareholder and a product user. It's really coming together. And Binance is a clear example of that. That being said, there's still a lot of confusion that people think, oh, a coin is equity. That's not. You don't get any ownership of a company. And the rules are very different. But that being said, if a coin dies, if the community dies, the project dies too. So, guys, I hope you guys enjoyed this mini recap of the Futurama conference and the learnings I had from there. I hope we make videos a little bit faster. This one came up late because I was trying to piece this clip together and didn't know how to, you know, glue it all together. I hope you guys enjoyed this video. I know that Futurama is going to start a second conference soon, so I'll put a link down below. And, of course, if you guys have any recommendations for conferences, well, why not comment below? I'll try to check them out and show you guys what's there. Thank you guys so much for watching this video. Remember to click the like and subscribe button if you like this mini recap. See you guys next time.