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Day 2 - BTC Nashville 24 - Michael Saylor Keynote

Candlestick chart and data of financial market.

1130 - Enterprise StageA panel of investors discussed Bitcoin investing and professional money's observations about the market. In the audience were several VCs and hedge fund types diligently taking notes from the panel - Greg Carson (Humla Ventures), Asher Carson (Unbroken Chain Fund), Matthew Siegel (Vaneck), Namcios (UTXO Management). Listed below are some brief snippets on things a deeper dive may be of use to those interested.....'Gold ETFs own less than 1 percent of the supply' which was a veiled reference to the volume of BTC owned by ETFs. Unfortunately I didn't catch the percent ETFs have under management but suspect its near 5% based on volumes found during a google search.The CEO of VANECK has put 35% of his personal wealth into BTC.The panel believes layer 2 and opcat &nbsp;aren't priced into BTC yet. Translated- the market has recognized the utility and impact BTC will have.BTC Miners listed on major exchanges control 30% of the market.Innovation is needed to keep feeding the miners so they will stay and keep the network secure and viable.Vaneck noted that Miners are taking on less debt as of late but didn't allude to this being either good or bad.<figure id="figure-3yiqlgzqidlz43uas8"><img id="3yiqlgzqidlz43uas8" src="https://cdn.durable.co/blocks/27gVgp4SlTdLUyvpaxdXUWM9UsDIpv6Xa2ziIgvOdZNEFJVUyJHaCB0Kts0e8mfp.jpg" alt="AI-Enhanced Social Networking" title="AI-Enhanced Social Networking" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionX="undefined" data-positionY="undefined" data-fullWidth="false"/></figure>

Day 2 - BTC Nashville 24  Investing in BTC Season 2

Fidelity Investments Consumer Location III

11am Enterprise stage Fidelity digital assets host Chris Kuiper hosted the Bitcoin Through the Eyes of Institutional Investors session on the Enterprise stage at 11. In 30 minutes he laid out the approach to investments firms like fidelity takes and where Bitcoin fits in. The following slides were taken throughout with some color commentary provided below each.&nbsp;<figure id="figure-uok5v79l6lz42t2ju" class=""><img id="uok5v79l6lz42t2ju" src="https://cdn.durable.co/blocks/7vPHFND8CSGBbPhvdkKAGn7WsDjycf0L442liYKXj7yaMvH14XSLsupcmJ9470bU.jpg" alt="Young business man looking at trading charts reflecting in glasses, close up." title="Young business man looking at trading charts reflecting in glasses, close up." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/7vPHFND8CSGBbPhvdkKAGn7WsDjycf0L442liYKXj7yaMvH14XSLsupcmJ9470bU.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><figure id="figure-zihqtsebxqlz42v4gf" class=""><img id="zihqtsebxqlz42v4gf" src="https://cdn.durable.co/blocks/33xWj9SdbOJYPZ0sU1fSa29IWFRHby5nFaIbgQxwV5JqKLw0CH39itxyvx4sv0lG.jpg" alt="Crypto Whale Bitcoin Cryptocurrency Large Investor Holding Coin Asset" title="Crypto Whale Bitcoin Cryptocurrency Large Investor Holding Coin Asset" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/33xWj9SdbOJYPZ0sU1fSa29IWFRHby5nFaIbgQxwV5JqKLw0CH39itxyvx4sv0lG.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>The Market has to figure out the price of its with near zero correlation to other assets and this causes volatility.<figure id="figure-406shbvkkntlz42w4m4" class=""><img id="406shbvkkntlz42w4m4" src="https://cdn.durable.co/blocks/2bCNinU1Z5usRQhVJSpXtTtRMRGU34fpHF12NmalRCwp41LksV6UAvK3UGOSq1Pv.jpg" alt="Trader investor analyst using mobile phone app for cryptocurrency stock market, analyzing graph trading data index investment growth chart, plans strategy. Close-up of male hands holding smartphone" title="Trader investor analyst using mobile phone app for cryptocurrency stock market, analyzing graph trading data index investment growth chart, plans strategy. Close-up of male hands holding smartphone" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/2bCNinU1Z5usRQhVJSpXtTtRMRGU34fpHF12NmalRCwp41LksV6UAvK3UGOSq1Pv.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>Stocks are less volatile than many of the s&amp;p companies&nbsp;<figure id="figure-0rrk2wsbvelz42x92d" class=""><img id="0rrk2wsbvelz42x92d" src="https://cdn.durable.co/blocks/198vNb3I4U4se1uhZ0KF2DPd0gjZKqex4c6qANOSVzKVSxMmCG6JiIoCgxjr2tgz.jpg" alt="stock market investment graph on financial numbers abstract background.3d illustration" title="stock market investment graph on financial numbers abstract background.3d illustration" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/198vNb3I4U4se1uhZ0KF2DPd0gjZKqex4c6qANOSVzKVSxMmCG6JiIoCgxjr2tgz.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><figure id="figure-ikwdfhaggilz42y4z7"><img id="ikwdfhaggilz42y4z7" src="https://cdn.durable.co/blocks/10aBtiQCFPe4a1MtMoZS6nKXUnDF9pxAVOsXk9gdXdqbfYWIUz41tzR27iZZE5ZO.jpg" alt="Asian Business Woman is checking Bitcoin or stock market price chart on the digital exchange on a laptop monitor computer, cryptocurrency future price action prediction. Trading Stock Bitcoin ETF." title="Asian Business Woman is checking Bitcoin or stock market price chart on the digital exchange on a laptop monitor computer, cryptocurrency future price action prediction. Trading Stock Bitcoin ETF." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/10aBtiQCFPe4a1MtMoZS6nKXUnDF9pxAVOsXk9gdXdqbfYWIUz41tzR27iZZE5ZO.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>Sharpe calculates return over risk and is used by firms in their decision to invest. Sortino ratio works the same way Sharpe does except it only looks at the downside of the standard deviation to figure out where the floor on an asset is.<figure id="figure-owmaiox98rglz42z1no" class=""><img id="owmaiox98rglz42z1no" src="https://cdn.durable.co/blocks/27u0opBxPLh2scOcGDLzXbzv2n5ZZ0s24rnOC0aAlWvqljIqaXKSPPDXoBpS0SL5.jpg" alt="Asian Business person use mobile smartphone app analyzing business data and prediction economic growth coronavirus crisis, Covid-19" title="Asian Business person use mobile smartphone app analyzing business data and prediction economic growth coronavirus crisis, Covid-19" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/27u0opBxPLh2scOcGDLzXbzv2n5ZZ0s24rnOC0aAlWvqljIqaXKSPPDXoBpS0SL5.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>Correlation is king! The less of it you see for an asset the more likely it is to ‘zig when other assets zag’.<figure id="figure-ob3jjt4haalz4309x5" class=""><img id="ob3jjt4haalz4309x5" src="https://cdn.durable.co/blocks/35kZ3pJ6Pxw3avBD20lUbjvV2GB454a6QXgc0roQcmdLQfIswuKNnRKDaj42Ojni.jpg" alt="Wave of musical sounds. Abstract background with interweaving of dots and lines. 3D rendering." title="Wave of musical sounds. Abstract background with interweaving of dots and lines. 3D rendering." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/35kZ3pJ6Pxw3avBD20lUbjvV2GB454a6QXgc0roQcmdLQfIswuKNnRKDaj42Ojni.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><figure id="figure-a5ka7iny5lz43146d" class=""><img id="a5ka7iny5lz43146d" src="https://cdn.durable.co/blocks/1cxqYhbMbQD9ZKIdDXyxfxw9rFDZNxfiAtUk3fbxe47dG5wqYsFoUOhmNfo8zAQ6.jpg" alt="Crypto Whale Bitcoin Cryptocurrency Large Investor Holding Coin Asset" title="Crypto Whale Bitcoin Cryptocurrency Large Investor Holding Coin Asset" class="object-cover bg-gray-100" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/1cxqYhbMbQD9ZKIdDXyxfxw9rFDZNxfiAtUk3fbxe47dG5wqYsFoUOhmNfo8zAQ6.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>Firms like Fidelity look at asset classes through the lens of 6 characteristics.&nbsp;

Day 2 - BTC Nashville 24 - BTC through the Eyes of Institutional Investors

RFK- the 3rd party presidential candidate speech at Bitcoin Nashville was inspiring! The full speech may be viewed at this <a data-mce-href="https://youtu.be/ssYCRVpzcxc" href="https://youtu.be/ssYCRVpzcxc" data-mce-selected="inline-boundary">link</a> and listed below are some important points he made:Transfer 200k of bitcoin we have now to treasury as a strategic reserveInstruct the Treasury to buy 550 daily until USA has 4 million bitcoinsWill have the IRS issue guidelines for Bitcoin and US dollar to be non reportableIRS will be instructed to allow Real estate investors who use the 1031 exchanges for buying in kind real estate with proceeds from a sale to do the same with Bitcoin. (I consider this a favorable and easy to implement approach since the code already exists and would align with crytpo assets like Bitcoin being treated as Digital propery)CBDC's are not going pass as it woould allow the Fed to evolve itself into a tyranny (His point is well taken as CBDCs would be akin to your credit card company sharing your specific purchases and then allowing the government to make decisions based off those)Bitcoin is a cyber defense weapon (Not sure how to explain this one- would recommend more research)<figure id="figure-faedoufb7tlz885opp"><img id="faedoufb7tlz885opp" src="https://cdn.durable.co/blocks/34KCC1S7FjNp4IygZbmGkLDmygKaX7FSYqGzVESEcS1ep4Mi0WmtLnafE5IyYfc6.jpg" alt="Trader analyzing global bitcoin price on network diagram" title="Trader analyzing global bitcoin price on network diagram" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/34KCC1S7FjNp4IygZbmGkLDmygKaX7FSYqGzVESEcS1ep4Mi0WmtLnafE5IyYfc6.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>

Day 2 - BTC Nashville 2024 - RFK speech

First day of conferences can be like that first day at School. You never know who your going to meet and the prospect of walking into that big unknown world can be both exciting and frightening at once. BITCOIN Nashville was anything but. Everyone wanted to be here! Attendees had a child like glow you see when kids experience something fun and new. For me, the fun began at the Nakamoto stage with a session titled 'Nation State Game Theory: Energy Infrastructure'. Harry Sudock (GRID Infrastructure), Jeff Lucas (BitFarms), Lisa Hough (Bitcoin today Coalition) and moderator Troy Cross from the Bitcoin Policy institute. Their discussion covered some new themes I'd encourage others to dive deeper on....0930 Bitcoin requires lots of power to perform the mathematical puzzles to mine it so it must be a drain on the power companies, right? Power Companies have a strange business model where they pay others to take their excess power capacity. The analogy was made to Apple paying people to take their excess iPhones which of course makes little sense. Bitcoin steals power supply and puts onerous expense on last mile consumers especially during a crisis. Convential wisdom and media suggests this but consider Berkshire Hathaway. They offered Texas 10 Peaker Power plants to help during peak cycles as the name suggests. In exchange for their CapEx investment they would be guaranteed 10% profits across the top. That would equate a guaranteed tax across the top for every power consumer from the stay at home mom to the small business owner. It would come as a small line item at the bottom of their power bill each month that would add an additional $2-$10. Texas said no thanks. Converse to that, RIOT bitcoin mining built their own power generation on their own dime and actually shut down bitcoin mining during the 2024 Hurricane to reroute power to those who were affected. Traditional Finance 'will not solve the custody issue' that makes compliance and ease of use difficult until the companies these speakers on stage represent are as big as they are. Bitcoin Is transparency and too transparent- contrary to popular belief every transaction on the chain can be traced making anonymity difficult.<figure id="figure-3k7ptdp8zjlz1u2qma" class=""><img id="3k7ptdp8zjlz1u2qma" src="https://cdn.durable.co/blocks/17YGHn7b6FE00JZhB3Tx3c8EgCO90o5SCPMA3J4A3UFyxWh4VsMAjmRfNeu9FCU6.jpg" alt="Beautiful Male Computer Engineer and Scientists Create Neural Network at His Workstation. Office is Full of Displays Showing 3D Representations of Neural Networks." title="Beautiful Male Computer Engineer and Scientists Create Neural Network at His Workstation. Office is Full of Displays Showing 3D Representations of Neural Networks." class="object-cover bg-gray-100" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/17YGHn7b6FE00JZhB3Tx3c8EgCO90o5SCPMA3J4A3UFyxWh4VsMAjmRfNeu9FCU6.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"> </figure>11AM&nbsp; God Bless Bitcoin was premiered on the second floor of the civic center. A smaller sized room with about 150 seats and tables in the back were arranged towards a large screen where the show was played. Admittedly - I had no preconceived notions about the film other than what Natalie B from Coinstories podcast had mentioned when interviewing the husband and wife directors about the film.&nbsp; WOW doesn't begin to describe how informational this film is. Its an embodiment of all the things I've learned about Bitcoin over the years in a concise and well explained production.&nbsp; Watch it here or navigate to our homepage and watch this compelling video&nbsp; <a href="https://www.youtube.com/watch?v=oksraL7wN6Q" data-mce-href="https://www.youtube.com/watch?v=oksraL7wN6Q">https://www.youtube.com/watch?v=oksraL7wN6Q</a>--<figure id="figure-z6usobxvv5lz2nybax"><img id="z6usobxvv5lz2nybax" src="https://cdn.durable.co/blocks/28OHzvYPVONpdsoJl3YZdRIXu4a2JYibQ0A3XzXKSOYsUXo9ebZzach1N2I8mIXM.jpg" alt="Woman is checking Bitcoin price chart on digital exchange on smartphone, cryptocurrency future price action prediction." title="Woman is checking Bitcoin price chart on digital exchange on smartphone, cryptocurrency future price action prediction." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/28OHzvYPVONpdsoJl3YZdRIXu4a2JYibQ0A3XzXKSOYsUXo9ebZzach1N2I8mIXM.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>1pmBlackrock is the largest asset manager in the world and its head of Crypto investments Robert Mitchnik who is credited with 'Orange Pill'ing its CEO Larry Fink took the stage. For me, Blackrock has been a bit of a black box, no pun intended so curiosity compelled my attention to his session. The following are some of the themes he shared....Aladdin is Blackrocks secret sauce. Its a software program that provides market analysis for each investment organization operating under the blackrock umbrella.&nbsp; In 2021 Blackrock began working with Coinbase who is one of the largest crypto exchanges in the world. In 2022, Blackrock created a private trust where they would hold Bitcoin for their IBIT ETF fund that was in the works and ultimately approved by the SEC in early 2024 along with 9 other firms such as Grayscale.Blackrock looks for assets that operate with near zero correlation. I took that to mean they want assets that stand on their own such as Gold and Silver. In so many words I interpreted Robert to suggest that Blackrock sees Bitcoin standing on its own.--<figure id="figure-l9rmmnek2clz2o848n"><img id="l9rmmnek2clz2o848n" src="https://cdn.durable.co/blocks/28mSY7tLsOY6dKs9CAOKrE44iRnZbST3HNPWhKpcCnvpONi3tDN2m0hEEXqE6Hhn.jpg" alt="Business man using computer hand close up futuristic cyber space and decentralized finance coding background, business data analytics programming online network metaverse digital world technology" title="Business man using computer hand close up futuristic cyber space and decentralized finance coding background, business data analytics programming online network metaverse digital world technology" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionX="undefined" data-positionY="undefined" data-fullWidth="false"/></figure>2pmSome may recall seeing Rocky at the movie theater. You couldn't help but walk out of there with that feeling to whip someone's ass. The Make Bitcoin in America Great Again contoured up those feelings with a strong entrance by Jimmy Song and fellow stage dwellers Ben Asken (MMA Fighter) and Luke Rudkowski (We are Change). Jimmy started off his introduction diss'ing the Blackrock speaker a few before him by calling them "Rent Seekers" who prey off others as a middle man. He carried the crowd further with drawing comparisons to what many of us know as the administrative state as being rent seeking.

DAY 1 - BITCOIN Nashville 2024

Gold Bitcoin. Cryptocurrency  Data Concept

Bitcoin, often perceived as a mere digital currency, fundamentally operates as a protocol. This protocol, much like those governing the internet, establishes a set of rules and standards for data transmission and network interactions. Understanding Bitcoin as a protocol reveals its true nature and the technological revolution it embodies.At its core, Bitcoin is built upon a decentralized network that employs the Bitcoin protocol to facilitate peer-to-peer transactions without intermediaries. This protocol is a series of predefined rules that govern the creation, validation, and recording of transactions on the blockchain. The blockchain, a distributed ledger maintained by a network of nodes, is the heart of this protocol. It ensures transparency, security, and immutability of all transactions.The Bitcoin protocol's most critical function is to solve the double-spending problem inherent in digital currencies. Through a consensus mechanism called Proof of Work (PoW), it requires network participants, known as miners, to solve complex mathematical problems to validate transactions and add them to the blockchain. This process not only secures the network but also introduces new bitcoins into circulation.Moreover, the Bitcoin protocol includes a fixed supply limit of 21 million bitcoins, embedding scarcity into its design. This rule is enforced by all network participants, ensuring that the protocol's integrity and the currency's value proposition remain intact over time. The open-source nature of Bitcoin's code allows anyone to review and propose changes, fostering a transparent and collaborative development environment.Bitcoin's protocol extends beyond mere currency transactions. It encompasses aspects like smart contracts and second-layer solutions (e.g., the Lightning Network), which enhance its scalability and utility. These developments illustrate that Bitcoin is more than just a currency; it is a robust and adaptable protocol for decentralized applications.In conclusion, Bitcoin is fundamentally a protocol because it establishes a decentralized, transparent, and secure framework for digital transactions and beyond. Its predefined rules, consensus mechanism, and open-source nature highlight its protocol-based structure, making it a cornerstone of the evolving digital economy. Understanding Bitcoin in this light emphasizes its revolutionary impact on finance and technology.

Insights

Day 2 - BTC Nashville 24 - Michael Saylor Keynote

Day 2 - BTC Nashville 24 Investing in BTC Season 2

Day 2 - BTC Nashville 24 - BTC through the Eyes of Instit...

Day 2 - BTC Nashville 2024 - RFK speech

DAY 1 - BITCOIN Nashville 2024

Bitcoin - Its a Protocol!