The B Word, the most expected conference focused on the cryptocurrency Bitcoin, began yesterday July 21st at 9 a.m. PDT (Pacific Daylight Time).
Some of the most remarkable people in the crypto field discussed possible ways that institutions can take to incorporate Bitcoin into their system. The conference offered a live experience and a library of content to the investment community.
The virtual event was divided into several parts in which the speakers discussed and shared their views on various aspects of Bitcoin, its pros and cons, and also discredited some myths about BTC.
Some of the most recognized and influential speakers were Tesla CEO Elon Musk, Twitter CEO Jack Dorsey, SEC Commissioner Hester Peirce, and Ark Invests CEO Cathie Wood, along with a few others. Notable names of cryptocurrencies world.
The content is posted on the TheBWord.org website so the crypto community can access more than 8 hours of the content generated for and by this event.
The conference was divided into six Tracks in which different topics were debated.
Track 1: Demystifying Bitcoin. This section aimed to problematize various myths around cryptocurrency and was divided into five sessions featuring different speakers.
- Denying that Bitcoin wastes energy.
- Denying that Bitcoin facilitates criminal activity.
- Disprove that Bitcoin is not scalable.
- Denying that Bitcoin ownership is concentrated.
- Denying that Bitcoin can be easily displaced.
Track 2: Bitcoin as a tool for economic empowerment. Cathie Wood, Jack Dorsey, Elon Musk, and Steve Lee spoke live in this section.
Track 3: Supporting the developer ecosystem. Bitcoin has become an open-source financial network, and in this section, divided into three sessions, the speakers explained why the long-term success of Bitcoin requires a sustainable financing model for open source developers to maintain and expand the protocol.
- Unpacking the open-source development.
- The landscape of Bitcoin developers.
- A call to action.
Track 4: Securing the Bitcoin network. The speakers explained why supporting Bitcoin requires understanding and proactively addressing its security risks. This space was divided into three sessions.
- Work test
- Attack Vectors
Track 5: Regulating Bitcoin. Contrary to popular belief, Bitcoin is not an unregulated asset. The more the coin is adopted the more it becomes necessary to educate legislators and advocate for reasonable regulatory approaches for Bitcoin. The speakers in this space discussed this in three sessions.
- Bitcoin Regulation Keynote
- Bitcoin and AML
- A Congressional Perspective on Bitcoin
Track 6: Preserving the Bitcoin Ethos. In this section, divided into three sessions, the speakers discussed how institutionalization will affect the distinctive character of Bitcoin.
- Bitcoin custody
- Bitcoin is ESG
- Bitcoin and IP
Jack Dorsey vs. Elon Musk
The conversation between the CEO of Tesla and the CEO of Twitter was undoubtedly the most expected moment of the event.
Jack Dorsey, Elon Musk, and Cathie Wood participated in a panel that addressed the topic “Bitcoin as a tool for economic empowerment”. The session was streamed live at 11 am PDT and was moderated by Steve Lee, leader of Square Crypto.
Musk chose for the occasion a t-shirt with the “Evolution of Money” meme showing Bitcoin as the latest evolution of money.
The billionaire revealed that SpaceX owns Bitcoin on its balance sheet along with Tesla and himself. Musk also revealed that he owns Ether, Dogecoin and BTC in his wallet. He assured that they are not thinking of selling Bitcoin.
On Dogecoin and its support for this cryptocurrency, he said: “I love dogs and memes”.
When asked about Tesla’s plans to accept Bitcoin as payment in the near future, Musk said: “It seems that Bitcoin is moving more towards renewables… There is a trend towards more than 50% from renewables. In that case, Tesla will most likely accept Bitcoin again”.
Cathie Wood, one of the well-known Bitcoin advocates on the panel, noted that: “Bitcoin will be more environmentally friendly than gold mining or the traditional financial system.”
Musk also said that it is clear to him that the set of actions must be carried out “with a greater likelihood of making the future good.” Bitcoin will improve the future. Additionally, the Tesla CEO asked Dorsey to allow advertisers to pay Twitter with Bitcoin. Later, he talked about a space heater that would double up as Ethereum, Bitcoin, and Doge mining node. Some believe it could be a possible hint at Tesla building its renewable mining machines.
For his part, Jack Dorsey, the CEO of Twitter and undoubtedly a great Bitcoiner, said that the current moment reminds him of the early years of the Internet. “What inspires me the most is the community that promotes Bitcoin. It reminds me of the early years of the internet. “
About Square, a company of which he is also CEO and co-founder, he noted: “Everything we (Square) create for Bitcoin, from the hardware to the software, will be open source and completely transparent.
Dorsey added that he hopes Bitcoin contributes to world peace: “I hope it creates world peace.”