- The subjects that are discussed the most are Ordinals, Trump, sidechains, and layer 2.
At the world’s largest Bitcoin conference, Coin2024, more than 20,000 enthusiasts have descended upon Nashville, Tennessee. As dapp developers and politicians prowl the hallways, it’s evident that the world’s largest cryptocurrency is going through a significant transformation.
In anticipation of presidential nominee Donald Trump, who will appear at the conference on Saturday, July 27, and has been the undisputed talk of the town, the price jumped 4% to $67,300 in the last 24 hours.
One guest, Ryan, a Bitcoin miner, stated, “It’s pretty incredible that Trump is going to be here.”
Despite not being present at the conference, he expressed gratitude to Trump for bringing attention to the business, saying, “It might help me keep my company alive,” as opposed to the current administration, when one never knows what will happen.
Robert Kennedy Jr., an independent presidential contender, and Vivek Ramaswamy, a former Republican, will also be appearing alongside Trump. Though neither attracts the interest of the former president Trump, they do indicate a larger pattern.
At the world’s biggest Bitcoin conference, three presidential contenders adopted pro-crypto campaign slogans, demonstrating the growing prominence of cryptocurrency and its ability to compel politicians to address the sector.
One bitcoiner who has been in the business since 2017 is Jackson. “Politicians flooding the conference shows me that Bitcoin cannot go unnoticed anymore,” Jackson stated. Though he doesn’t support any one politician above another, he believes that Bitcoin is now prepared for the major leagues as a result of their entrance.
Even if he doesn’t always agree with Trump’s political views, Jackson said that having Trump attend is beneficial for Bitcoin. Even in the unlikely event that he backs out, we are grateful for the free publicity he is providing for us.
Second Season of Bitcoin
At Bitcoin2024, there are two other stories that are prevailing in the hallway talks: Ordinals and the growing ecosystem made possible by layer 2s and sidechains.
These days, layer 2s, sidechains, statechains, and zero-knowledge technological experiments are all over Bitcoin, bringing events as well as audiences. Events organized by projects creating Bitcoin apps are held all around the city, something that wasn’t the case a few years ago.
The term “Bitcoin Season 2” alludes to the declining Bitcoin maxi mentality, which held that the network would eventually ossify and that developing apps should take a backseat to Bitcoin’s usefulness as a store of currency.
Focus on Ordinals
Ordinals are another hugely popular trend at Bitcoin2024.
Ordinals have also shown to be a major expansion of the ecosystem—and the conversation—since the introduction of Casey Rodarmor’s protocol in February 2023, which permits arbitrary non-financial data to be imprinted on Bitcoin.
Almost everyone in the Conference watches at Casey Rodarmor as he walks down the halls. One individual approached Casey to shake his hand after he said that. What was previously unimaginable in Bitcoin—NFTs that persist indefinitely on the blockchain—was completely upended by the Ordinals inventor acting alone.
Additionally, his system opened up a whole new area for the Bitcoin community that was felt throughout Bitcoin2024 and gave rise to the BRC-20 token standard and Runes. With Quantum Cats decorating the walls, Taproot Wizards has arranged a variety of events that have drawn sizable crowds.
Bob Bodily, the CEO of Bioniq, an Ordinals marketplace, claims that he spotted the writing on the wall just two weeks after Casey broke the Ordinals protocol. He remarked, “I saw real money coming into the space from Ethereum traders and collectors and knew right away this was happening.”
Bitcoin is becoming more and more miraculous, and this trend will only intensify.
A new perspective on how the politics and groupthink inside the ecosystem are changing can be found in Bitcoin2024. It’s amazing to watch how Bitcoin has changed from its libertarian beginnings and ossifying maximalists to developers, builders, and pro-crypto presidential contenders.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
