The annual Bitcoin Consensus Conference took place from May 14–16, 2018, in New York City. As the fourth and largest iteration of this premier blockchain event, it brought together over 7,000 attendees, including industry leaders like Microsoft, IBM, Ripple, and Fusion, hosted by CoinDesk.
Historical Price Impact of Consensus Conferences
- 2015: 23% intra-event surge; +121% two months post-event
- 2016: 10% intra-event surge; +79% two months post-event
- 2017: 69% intra-event surge; +139% two months post-event
Could 2018 continue this bullish trend? Below are the pivotal insights from each day:
Day 1: May 14
- James Patchett (NYCEDC CEO): Announced a blockchain research hub in NYC, emphasizing blockchain's disruptive potential for traditional finance.
- FedEx CEO Fred Smith: Highlighted blockchain's role in building transactional trust, calling it the next major disruptor.
- St. Louis Fed Chair: Criticized cryptocurrencies for moving in a "wrong direction," with no plans for blockchain-based forex.
- Deloitte’s Wendy Henry: Stressed blockchain as a connective tissue for organizations, urging clarity in implementation.
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Day 2: May 15
- Charlie Lee (Litecoin): Envisioned multi-crypto interoperability, likening future payments to today’s cash/credit card mix.
- CFTC’s Brian Quintenz: Avoided labeling Ethereum as a security, cautioning against fragmented regulatory stances.
- AION’s Matthew Spoke: Described blockchain as an internet redesign, advocating for decentralized interoperability over centralized exchanges.
Day 3: May 16
- Square’s Jack Dorsey: Predicted Bitcoin as internet’s native currency, partnering with Lightning Labs for real-world use cases like bitcoin coffee purchases.
- Coinbase’s CTO Balaji Srinivasan: Identified three investor waves—digital gold, smart contracts, and micropayments—with growing institutional interest.
- Ledger CEO Eric Larcheveque: Unveiled plans for institutional crypto trading, noting blockchain’s scalability limits alone.
Past Conferences: A Retrospective
2015: Inaugural Event
- Theme: Bridging blockchain solutions with real-world financial challenges.
- Highlight: Citigroup’s Debby Hopkins championed the event for industry-wide dialogue.
2016: Scaling Blockchain Applications
- Focus: Separating hype from viable consumer/business applications.
- Attendance: 1,500+ professionals from startups to academia.
2017: Mainstream Momentum
- Growth: 2,750 attendees, doubling 2016’s numbers, with keynotes from Coinbase, IBM, and Citigroup.
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FAQs
1. What’s the historical price trend after Consensus conferences?
Past events triggered 23–69% intra-event surges, with post-event rallies exceeding 79–139% over two months.
2. How did regulators address Ethereum in 2018?
The CFTC hesitated to classify ETH as a security, seeking regulatory harmony.
3. What did Square’s CEO predict for Bitcoin?
Jack Dorsey called it the internet’s future native currency, prioritizing Lightning Network for everyday transactions.
4. Which sectors dominated the 2018 talks?
Discussions spanned payments (Litecoin), scalability (AION), and institutional trading (Ledger).
5. How has attendance grown since 2015?
From 600+ in 2015 to 7,000+ in 2018, reflecting blockchain’s exploding mainstream relevance.
6. What was Deloitte’s key takeaway?
Blockchain thrives as a unifying framework, but requires clear implementation strategies.