Original compilation: Biteye core contributor Crush

Original compilation: Biteye core contributor Crush

This article introduces the main topics from the Bitcoin Miami conference. The key topics are:

1. Adoption in emerging markets

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3、Ordinals

01 Adoption in emerging markets

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(Argentine inflation rate)

International employees are starting to receive salary payments through the app and can use the app to instantly convert earnings into Bitcoin or USD stablecoins.

Judging from the official statement of the government official, "as the frequency of use of users increases, users who are actively engaged will indeed become more active".

Additionally, the government is in dispute with The New York Times over reporting on the El Salvador experiment, with Nayib Bukele (President of El Salvador) believed to be tying the Bitcoin story to politics and wanting to control the spread of information.

This raises a question...

Is Bitcoin adoption better suited for a bottom-up push to help individuals escape inflation than top-down adoption by governments?

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02 Obstacles and Sanctions

Chivo (Bitcoin wallet in El Salvador) has attracted interest from African countries (Nigeria, Zimbabwe, etc.) where inflation is currently out of control.

So, why are there still obstacles in the adoption of Bitcoin? OFAC (U.S. Treasury Office of Foreign Assets Control) is one of the reasons.

In addition, promoting these also needs to consider the issue of user education and provide a more simplified user experience. While Bitcoin is beneficial for these countries with out-of-control inflation problems, very little venture capital money is paying attention to these markets.

Bitcoin is gaining traction in Iran, Iranians are trading through currency dealers in Dubai, but if they move large amounts like $10 million out of Iran this way, they will suffer huge slippage loss.

This raises another issue with OFAC's sanctions regime.

Sanctions are meant to isolate the country from international currency markets, which works when national sovereignty, people and local currencies are inextricably linked.

But OFAC has no way to sanction Iran without harming those people trying to escape the Iranian regime, but Bitcoin, stablecoins (and compliance infrastructure such as TRM Labs) can solve such problems.

(Translator's Note: Founded in 2018 and headquartered in San Francisco, California, USA, TRM Labs Inc. is a blockchain intelligence company and blockchain analysis company that helps financial institutions, cryptocurrency companies, and federal agencies detect and investigate mergers with encryption related financial crimes.)

I don't have an opinion here, but it's a question worth exploring.

Sanctions are a crude tool that often indiscriminately harms a country and its people.

Sanctions could also reduce America's "soft power" and allow regimes to control the public through crisis response.

(Translator's Note:"soft power"Refers to a country's ability to influence other countries through non-military means such as attractiveness and values. Sanctions can negatively affect a country's image and reputation, reducing recognition and respect for that country from other countries. Furthermore, by responding to a crisis with sanctions, regimes can use crises to strengthen their grip on the public in order to maintain their power and dominance. )

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(USD to Russian ruble exchange rate chart)

If there is a way to consciously provide people in sanctioned countries with the option to switch to Bitcoin or USD stablecoins, while maintaining control over the country's behavior, rather than brute-forcing uniform sanctions, then this will certainly promote the development of Bitcoin. use.

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03 Ordinals

As for Ordinals on the BTC ecology that is currently on fire, a tweet by @DavidFBailey on Twitter sums it up well.

Miners, who play a key role in the circulation of Bitcoin, are delighted by the increase in gas fees, which further enhances the security model.

BRC-20 tokens also enhance the status of creators, allowing for greater cultural relevance.

Today, as more investment funds seek to trade bitcoin against the U.S. dollar, and it is increasingly seen as a hedge against negative real interest rates, bitcoin has emerged as a novel way to express views on the Federal Reserve's policy rate.

Before the emergence of BRC-20 tokens, the narrative logic of Bitcoin was very clear. However, after the emergence of BRC-20 tokens, such a narrative has been blurred, which is its bad point.

Apart from the above mentioned, another major feature of Bitcoin is censorship resistance.

There is a competing relationship between two different perspectives, Bitcoin as an immutable decentralized currency and the concept of creative freedom for individuals.