Bitcoin Conferences Are for Losers \ stacker news ~bitcoin

1809 sats \ 52 comments \ @starbuilder 14 Oct 2023 bitcoin

If you are one of the organizers or speakers, then you are not a loser. However, if you are just attending the event by paying the full price, then you are a loser. The frequency of these events has accelerated in recent months, and now an event is happening every week. There is no groundbreaking news coming out of these conferences, nor is there any revolutionary knowledge transfer taking place. These events are simply a place for "OG" Bitcoiners to gather, spend money, and have some fun. There are about 100 speakers who go from one conference to another talking about the same stuff again and again.

Bitcoin Conference in Miami 2021 set the stage for all these subsequent events. It created a perfect blend of a bull market, the reopening after Covid, and showcasing a real-world problem in El Salvador. This environment also created an opportunity for a new cohort of grifters to move into the Bitcoin space. They identify themselves as true bitcoiners stacking sats, and use non custodial wallets, posting on social media about Bitcoin, creating YouTube videos, and podcasts, as well as marketing for companies such as Bitrefill and Bitfinex, which are not true Bitcoin companies. I believe these influencers receive free tickets and travel expenses from the conference organizers to promote the event and attract more losers.

https://i.current.fyi/current/app/conf-sponsors.png

Take a look at the sponsor page, and you'll grasp the true intent. They may label it as a Bitcoin-only conference, but it garners sponsorship from exchanges primarily profiting from altcoins. Now, you might wonder why these sponsors back these events. It's straightforward. Exchanges profit from pumping and dumping altcoins. With the absence of new shitcoins coming into the system, their focus shifts entirely to Bitcoin and Bitcoin enthusiasts. Consider this: their financial stability hinges on Bitcoin's price fluctuations. Recent on-chain data indicates a lack of significant new Bitcoin buyers. Small-scale Bitcoin investors are accumulating and removing their holdings from exchanges, which is a positive trend. However, this also poses a threat to exchanges' financial viability. These exchanges, in turn, sponsor these events to attract more participants. It's akin to an indirect Ponzi scheme.

Given the decline of altcoins and the growing influx of opportunists into the Bitcoin space, exercise caution and refrain from supporting them.

I'm not singling out event organizers, speakers, opportunists, or influencers. Instead, I'm addressing you, the anonymous individual who paid the full conference fee. Stop this practice; it's not a worthwhile investment.

If you're new to Bitcoin or wish to embark on Bitcoin-related projects, the most effective approach is to immerse yourself in free educational content on platforms like YouTube and GitHub. Create your own code or product and comprehend the unique qualities of Bitcoin.

For those not holding any cryptocurrency, educate yourself by reading several guides on setting up a secure, non-custodial wallet. Mine fiat currency and convert it into Bitcoin. Accumulate your holdings and set them aside for the future; you'll require them when the time is right.

Satoshi introduced Bitcoin in response to the 2008 financial crisis. However, this week, many banks have reported robust earnings and are faring better than they did in 2008. Does this signify that Bitcoin is no longer necessary? Absolutely not. As I've previously mentioned, Satoshi conceived Bitcoin not solely as a response to the 2008 crisis but as a safeguard against the even bigger significant crisis looming in the next 10-15 years.

Stay focused, get involved, accumulate Bitcoin, contribute to its development, embrace freedom-enhancing technology, learn its usage, for you will require it when a genuine crisis emerges. And avoid attending Bitcoin conferences.

Challenge my perspective. If you attended the event at full cost and gained more than anticipated, please share your viewpoint in response to this. I'm open to hearing from those who agree or disagree.

Have a happy Saturday!

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1268 sats \ 11 replies \ @0330830bf9 14 Oct 2023

Losers write about loser conferences. Winners reminisce about traveling in 2020 in completely empty airports and meeting only high-signal people who did the same.

Winners go and talk to OG's and experts for feedback on their ideas, get inspiration, make connections, put skin in the game by making their face accountable to their peers.

Winners go to conferences and land jobs, win hackathons, raise a little seed money to build the next big thing.

Conference goe'rs are the men and women in the arena. Conference organizers are happy to separate shitcoiners from their money to give Bitcoiners a place to network and take in social mana.

21 sats \ 10 replies \ @starbuilder OP 14 Oct 2023

Can you or someone quote a real world example of someone building something big by going to one of these conferences? Will be good to get specific examples than making emotional statements.

0 sats \ 9 replies \ @0330830bf9 14 Oct 2023

Can you name someone in the space with something big that doesn't go to conferences?

72 sats \ 8 replies \ @starbuilder OP 14 Oct 2023

absolutely... Many... but one person stands out is @fiatjaf who does not go to conferences but has built and impacted bitcoin community in many ways.

11 sats \ 7 replies \ @0330830bf9 14 Oct 2023

He's prolific, but very few people can build so much shit to sling at the wall to see what sticks.

To the extent his projects have any notoriety outside a dozen developers is because those developers and entrepreneurs go to conferences and talk about those things. Or do you think Jack dropped coin without any social signal?

Nostr is itself derivative of other relay-based prototypes discussed at 2018 hackdays and 2019 in Berlin (and thus subsquently on podcasts). It wouldn't exist without conferences. They are an indelible part of the ecosystem.

To say that a few hundred bucks on a ticket is a poor investment is to not understand asymmetry, and terrible investment advice. Money and particularly Bitcoin is an inherently social network. Basement dwelling is sub-optimal.

Anyone looking to jump-in Bitcoin full-time would do well to disregard such blackpilled incel views, and experience the energy at several conferences before deciding whether or not they are useful to them.

1 sat \ 6 replies \ @starbuilder OP 14 Oct 2023

Local meetups, Hackathons, podcasts are many good ways of meeting, learning and building and I don't have any problems with that. Also the Nostr conferences such as Nostrica and Nostrasia (Nov 1-3) are also good because they do not have sponsors or tickets.

I am only pointing to the big bitcoin conferences that are not creating any value.

341 sats \ 4 replies \ @0330830bf9 14 Oct 2023

There's the backpedal I was expecting. Those are conferences too. Someone is always paying for the space food etc. You just dislike the sponsors less.

The BTC Mag conferences aren't my first choice either, I passed on both this year... but they are something interested people should experience at least once so that they appreciate the smaller conferences. Even someone on a budget could skip the conference ticket and just lobbycon / offsite parties in the area.

Just because you didn't extract value from them doesn't mean there was none to be had for someone more resourceful.

100 sats \ 3 replies \ @starbuilder OP 14 Oct 2023

Meetups and hackathons are labeled mostly as meetups and hackathons and at times they happen around conferences too. I think we agree that the BTC Mag conf are mainly the bad ones but also we have other ones with over 1000+ attendees.

My goal for this article is to spark a debate and get some specific examples where people benefited by going to these events. While I provided you with example of someone made a real impact by not going to conferences, I would like to get some real examples of people benefited from going to these conferences.

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12 sats \ 0 replies \ @nemo 14 Oct 2023

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383 sats \ 3 replies \ @Lumor 14 Oct 2023

If you live in a Bitcoiner-dense geographical location, maybe don't bother. Otherwise go. Make Bitcoin something more to yourself than something that just exists on the internet. Its more about interacting with other fellow non-celebrities than getting to experience the reality distortion field of Michael Saylor.

0 sats \ 2 replies \ @starbuilder OP 14 Oct 2023

Most of these events happen only in Bitcoiner-dense geographical location such as LA, Miami, Amsterdam. Agree with interacting with other fellow non-celebrities. Can you give one such example?

17 sats \ 0 replies \ @pakovm 14 Oct 2023

Watch Out Bitcoin, in Madrid, it's a place for debate where they invited people both for and against Bitcoin.

It was awesome to anyone who didn't want to hear the same things that are being repeated over and over.

1 sat \ 0 replies \ @Lumor 14 Oct 2023

I mean it's worth it to travel to conferences from time to time if one lives in a less bitcoiner-populated area.

Not sure what kind of example you are after.

324 sats \ 4 replies \ @jimmysong 14 Oct 2023

I'm probably going to sound very contrarian, but if you want a Bitcoin job, going to conferences is how you get leads.

Yea, you can spam apply to whatever is available on bitcoinerjobs.com or the jobs forum here, but there's nothing like meeting people face-to-face to make an impression. I agree that for devs, this isn't as necessary since there's open source contributions and such, but every company looking to hire wants to reduce risk. They want to know if they can work with you and that you show up on time to meetings and such. Meeting people in these places is how you make that impression.

How do I know this? I used to be attend these things as a pleb back in 2015-2016. And it worked out for me. I put myself out there and I made an impression with some people. And when it came time for me to look for a job, those connections and impressions made a difference.

Of course, I no longer work for a company and I wish I had started my own business earlier, but even then, you need to know people and scope out what people are doing. I know a lot of people that met their co-founders at these things.

The problem is a lot of people think it's a waste of money because the tickets are expensive. But you have to think of these things as an investment. You pay to start or continue some relationships. Meetups are great, and if you have a local one, by all means, attend and do the same things. But if you want a wider audience for your product, or more people to connect with conferences are really good for that.

100 sats \ 0 replies \ @kepford 14 Oct 2023

This is just good life and career advice. There are many good engineers that are terrible to work with. As someone who has been on hiring committees and managed devs you want to know that you can work with someone and meeting in person is way faster and more clear than digital connection. This is true outside of bitcoin. Conferences are very effective ways of making connections. You have a concentration of people around a single area of expertise.

100 sats \ 1 reply \ @starbuilder OP 14 Oct 2023

Thanks, Jimmy, for your reply. I agree that back in 2015-2016, there weren't many Bitcoin projects, companies, and conferences were the only way to meet people and build a career. Crypto Twitter did not exist, and many Bitcoin celebrities did not exist either. Things are much different now. There are so many open-source projects to contribute to, opportunities to learn, a community on Nostr to showcase your work, and direct messages (DMs) to establish one-on-one connections.

Based on your experience, it is mainly one-on-one conversations or small group discussions that lead to meaningful next steps, rather than the conferences themselves.

I religiously read your weekly newsletters and am learning how to identify rent-seekers or middlemen who don't add any value, and I see these big conferences as falling into that category.

To clarify, here's how I see it:

winning strategy is to have a clear target person to meet, introduce yourself to, or talk to at the conference. Contact them via DMs to arrange a meetup or look for side meetups that you know other like-minded people will attend. or you get invited to speak at these conferences.

Losing strategy is thinking that you can wing it by meeting many speakers, celebrities, and hoping to land your dream job by paying for a full-price conference pass or a whale-pass.

11 sats \ 0 replies \ @jimmysong 14 Oct 2023

Yep. And Twitter's a decent way to make first contact, but there's nothing quite like f2f meeting. Also, be friendly to lots of people. You never know when one of them can introduce you to the right person or invite you to the right dinner where your target might be.

Also, nice little hack if you want to go but can't afford it. Volunteer at the conference! Most of these things need a lot of staff and as a bonus, you'll often get to interact with the people you wanted to target backstage and so on. It's really not that different than open source work, though obviously, it helps the people putting on the conference. But honestly, I don't see them as middle men. They take a lot of risk and many of these conferences lose money. It's an entrepreneurial endeavor that requires a lot of blood, sweat and tears. They're far from rent-seeking in my mind.

Particularly dev conferences, there's a lot of good connections and things you can learn, and the people running it have good motivations to help the community. I would really try to be more empathetic toward them.

2 sats \ 0 replies \ @nemo 14 Oct 2023

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257 sats \ 7 replies \ @premitive1 14 Oct 2023

What's with this ant-fucking? Why preoccupy yourself with losers rather than inspiring people to be winners.

14 sats \ 3 replies \ @starbuilder OP 14 Oct 2023

Thanks for your reply. Many times, things don't get called out when they happen. This is a call to action for anyone new coming into this space to wake up and realize.

10 sats \ 2 replies \ @premitive1 14 Oct 2023

I recommend less abrasive wake-up calls.

14 sats \ 1 reply \ @starbuilder OP 14 Oct 2023

Good feedback. Sometimes the message cannot be sent across by being nice or good. So experimenting with different styles. Next time, I will try to make it more positive..!

8 sats \ 0 replies \ @BITC0IN 14 Oct 2023

fuck that, you did good.

1 sat \ 2 replies \ @nemo 14 Oct 2023

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23 sats \ 1 reply \ @premitive1 14 Oct 2023

i try to keep it positive, and I think starting a call to arms with a degrading comment about how people choose to spend their time seems counterintuitive to encouragement.

21 sats \ 0 replies \ @nemo 14 Oct 2023

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192 sats \ 2 replies \ @kepford 14 Oct 2023

Gonna push back a bit. You make some good points and mostly these points are why I haven't attended a con. That said, I know the value of attending conferences and it is mostly the social and connection aspects. As a Dev that has attended many conferences this is true of tech conferences too. They are most valuable to new people that want to meet folks with the same goals and ideals. This is especially valuable if you don't have a lot of folks in your local area. So if you do want to work in the bitcoin space I can see some value in attending some of these cons. Same goes for people starting bitcoin projects. Meeting in person has high value. The other aspect is just fun. If you enjoy getting together with bitcoiners and have the cash to do so you are not a loser. Its a choice of how to spend your sats.

0 sats \ 1 reply \ @starbuilder OP 14 Oct 2023

Thanks for your feedback. Local meetups and hackathons are much more impactful for devs and new founders.

60 sats \ 0 replies \ @nemo 14 Oct 2023

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111 sats \ 0 replies \ @mallardshead 15 Oct 2023

Controversial post. Liked it. The developer conferences are important, high signal, and yield results imho. The big box conferences of NgU bullshit, social media personalities, and politicians are definitely for the worst. There's a counterculture within bitcoin building against that stuff, this post an example of it. I don't agree with all you said, but really like what you're doing. Don't stop.

https://image.nostr.build/57fcdd25612e617d21f64369e75dd6e9119af9cb1504d5ae72da0eb61904533d.gif

10 sats \ 2 replies \ @TonyGiorgio 14 Oct 2023

I'm addressing you, the anonymous individual who paid the full conference fee. Stop this practice; it's not a worthwhile investment.

You're completely ignoring the networking aspect which makes me think you're the only one that's a loser here. It is what you make it, sounds like you aren't making anything out of them.

0 sats \ 1 reply \ @starbuilder OP 14 Oct 2023

Thanks Tony for your reply. I did go to one of these conferences before but learned from that mistake. Understand the networking aspect. But they mostly occur outside the conference at a dinner or after party. Here's how I clarified my stance to Jimmy.

Winning strategy is to have a clear target person to meet, introduce yourself to, or talk to at the conference. Contact them via DMs to arrange a meetup or look for side meetups that you know other like-minded people will attend. or you get invited to speak at these conferences.

Losing strategy is thinking that you can wing it by meeting many speakers, celebrities, and hoping to land your dream job by paying for a full-price conference pass or a whale-pass.

2 sats \ 0 replies \ @TonyGiorgio 14 Oct 2023

It's entirely proof of work. You're not going to strike gold by going to one conference to meet your dream celeb and win at life, whether you DM them first or not. You want to get invited to a private dinner? What makes you worthy or trusted for that? Because you showed up to one conference?

You talk to people, build up reputation, and repeat for years. Welcome to networking.

13 sats \ 0 replies \ @2bithits 14 Oct 2023

Fair points

My counter is that it can be inspiring to be around a whole bunch of other like minded bitcoiners. Also businesses might like to network with the right people & it could be more efficient finding them all in the same place at the same time.

I have never paid for a conference, but have volunteered at one FYI.

10 sats \ 1 reply \ @lightwalker 14 Oct 2023

I quote, "Stay focused, get involved, accumulate Bitcoin, contribute to its development, embrace freedom-enhancing technology, learn its usage, for you will require it when a genuine crisis emerges. And avoid attending Bitcoin conferences".

Now, it's every Bitcoiner's duty to not necessarily attend the Bitcoin conferences, but at least conduct Bitcoin meetups in your respective communities.

1 sat \ 0 replies \ @starbuilder OP 14 Oct 2023

meetups, hackathons, zap.stream (Nostr stream) all great...!

2 sats \ 0 replies \ @BITC0IN 14 Oct 2023

great write up.

0 sats \ 0 replies \ @notgeld 15 Oct 2023

This is because you describe a show, and there are some projects that always keep going below the radar.

0 sats \ 0 replies \ @IsabelBenedi 15 Oct 2023

I have to admit that I've been one of those events addicted for a few months recently. To me it's been very useful, helped me getting in contact with other entrepreneurs and creating my professional image. But it only make sense to me for this reasons. Of course there is an economic purpose of brands to organize this events, it's the new marketing and also they get to aproach to the real innovation that is happening, as always, at talented people meeting in a garage.

0 sats \ 0 replies \ @anon 14 Oct 2023

This doesnt differ from conferences in the fiat world. Mostly the ones paying for a booth make up for those that otherwise couldnt show you their new projects. And I would strongly suggest to visit some hands-on LNbits workshops though!

0 sats \ 0 replies \ @taipan 2 Nov 2023 freebie

All quite right but IMHO if you want to work or contribute more in Bitcoin ecosystem these meetup(just one per year) and more often smaller free meetup(see satoshispritz in Italy) are a good way to see each other in person, make arrangements, get to know each other and maybe do new business. Surely if the price is $200 or $300 it is out of scale. If it is maximum 100 I would say acceptable for 1 or 2 per year

0 sats \ 0 replies \ @MattInTech 18 Oct 2023 freebie

I could not agree more, Bitcoin Amsterdam was my first and probably last event. Researching blockchain protocols is one of the tasks I do at work, which thankfully paid for the admission ticket. Going there was a complete waste of time: underwhelming talks, underwhelming companies/exhibitors, underwhelming vibe. I was expecting to learn something new about recent innovations in LN or core protocol like drivechains, zerosync, rgb, covenants etc, but nothing. These events are mainly for people that want to feel cool and say “I went to a Bitcoin event”, no real techie or decentralization/privacy advocate can be found there

106 sats \ 4 replies \ @nemo 14 Oct 2023

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0 sats \ 3 replies \ @starbuilder OP 14 Oct 2023

Thanks but no thanks..! :)

https://media.giphy.com/media/XB9xGaYesaA2Irgm7r/giphy.gif?cid=ecf05e47ixq526zew2s3uot805lngno8qx79y8lu66ffbrk7&ep=v1_gifs_search&rid=giphy.gif&ct=g