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Peter Thiel: Bitcoin is the ultimate replacement for the traditional financial system

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Peter Thiel Reveals His "Hit List" at the Bitcoin 2022 Conference, with Buffett and other traditional financial titans making the cut.

原文标题：《 Peter Thiel Pumps Bitcoin, Calls Warren Buffett A 『Sociopathic Grandpa』》

Source: Forbes

Originally written by Abram Brown

This article is from wechat official account:Old yuppie

Dozens of companies are using the Bitcoin 2022 conference, which runs from Wednesday to Saturday, as a venue to share announcements with the industry and beyond.

New York City and Silicon Valley continue to lead in 2021 in terms of blockchain start-up funding, with $6.5 billion and $3.9 billion, respectively. But Miami is now tied with Los Angeles, which raised more than the city's $760 million, according to CB Insights, a market research firm.

Cryptocurrency exchange FTX bought the naming rights to the NBA arena in downtown Miami last year, replacing American Airlines. Blockchain.com, the largest cryptocurrency company to move to Miami so far, is putting 200 employees in the trendy Wynwood district, where other tech companies and investors have also set up shop.

"Winwood really has that spirit, and you're looking for that spirit when a new technology sector is set up," says Blockchain.com CEO and co-founder Peter Smith, who compares it to San Francisco's Southmarket neighborhood and Brooklyn, New York. "Eventually you want to be with other tech companies."

Many cited the crypto-friendly environment fostered by local officials, largely thanks to Miami Mayor Francis Suarez, who attracted national attention by attracting tech investment and becoming one of the country's crypto-friendly mayors.

Others point out that Miami and Florida are both business-friendly cities that have remained open during the pandemic, making them more attractive as a place where people can work remotely.

"It's hard to deny that this is an amazing opportunity for companies to come here and build their projects in the cryptocurrency space," said John Bartleman, CEO of TradeStation, a multi-asset broker based in Plantation, Florida.

Bartleman's firm commissioned an 11-foot (3-meter) tall statue of a robotic bull, intended to mimic Wall Street's charging bull. On Wednesday, Mayor Suarez unveiled the artwork to a jubilant crowd gathered in Miami Beach to inaugurate the conference.

"Welcome to the future of finance," Mr. Suarez said. "I give you the Miami Bulls!"

All this enthusiasm stands in stark contrast to bitcoin's tough year. On the financial side, the cryptocurrency hit a high of $67,553.95 in November before plunging by nearly half in late January; It's still down about 30 percent since its November high. Bitcoin has also been largely absent from many of the hottest trends in cryptocurrencies, such as NFTs.

More broadly, critics question the assumptions behind cryptography's claimed value and utility, with some liking the hype and so far unfulfilled promises of blockchain technology to a Ponzi scheme that benefits early participants but leaves others stranded.

And the rise of frauds and scams related to cryptocurrencies and NFT has prompted some consumers to exercise caution.

As Miami aims to attract more investment for cryptocurrency projects, Bitcoin 2022 organizers say at least 75 companies will make announcements at the conference.

Last year, El Salvador's President Nayib Bukele made international news at the conference, announcing via video that his country would be the first to make cryptocurrencies legal tender. Bukele will be attending this year's conference.

One of the most anticipated announcements may come from Jack Mallers, the 27-year-old CEO of Bitcoin payment app Strike, who is working with Bukele's government to launch bitcoin nationwide.

Mallers has also worked with Twitter to sync his app with the social network to send digital currency as "tips," demonstrating in a video how he sent $10 to a man at a Starbucks in El Salvador.

"Why is Western Union still used? When you combine one of the largest social networks in the world with the best open currency networks, crypto is very convenient," he said in the video posted on YouTube.

It remains to be seen how this effort will play out in the future. South Florida lost more than 18,000 people between July 2020 and July 2021. And critics worry that the city does not have a high-quality university that can train the workforce and enable companies to thrive, as in the Bay Area and New York.

Josip Rupena, a Miami-based businessman who will be presenting his cryptocurrency mortgage startup at the conference, said he would give the work a few years.

PayPal co-founder Peter Thiel says Buffett is holding bitcoin back.

Peter Thiel threw cash into the crowd and insulted the traditional financial and tech industries at the Bitcoin 2022 conference in Miami.

Peter Thiel doesn't care about Ethereum, and he doesn't care much about a few key players in the financial world. Speaking today at the Bitcoin 2022 conference in Miami, he publicly shared his "enemies list."

Peter Thiel calls Berkshire Hathaway Chairman and CEO Warren Buffett "a sociopath from Omaha." Jpmorgan Chase Chairman Jamie Dimon and BlackRock CEO Larry Fink also joined the list of bitcoin enemies.

In between throwing cash into the crowd, Mr. Thiel accused the three financial tycoons of fostering a system of institutional and political bias against Bitcoin.

"Central banks are bankrupt and we are at the end of fiat money," Declared Peter Thiel. "Bitcoin is the ultimate alternative to the entire traditional financial system."

"Bitcoin is not Ethereum as a payment system, it's not e-gold, it's something like the S&P 500, it's the entire stock market," he said.

While Ethereum is the second most valuable cryptocurrency, Peter Thiel said it is uncertain whether it can maintain its position for long.

"Bitcoin and Ethereum are at the opposite ends of the spectrum," he said, calling Bitcoin "low speed, high value" and Ethereum "high speed." For Thiel, ethereum's gas bill "has to come down," adding that "it has to become completely frictionless for it to work."

In his speech, the PayPal executive didn't spare the tech industry, either, and he may have given a nod to what he sees as liberal-leaning companies like Meta that have been subject to government regulations.

Peter Thiel "Obviously, companies are controlled by governments in a way that Bitcoin will never be," he said.