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Bitcoin, Cypherpunk and financial freedom at BTC Prague
PRAGUE, CZECH REPUBLIC – 05/26/2012: Tourists gather on “Staromestske Namesti”, the main square of … [+] the suburb “Stare Mesto” with “Tynsky chram”, the Tyn church, at night. Photo by Frank Bienewald
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BTC Prague 2024 is one of the most influential bitcoin-only events in Europe. Hosted in the historic city of Prague, the event aims to strengthen connections within the European bitcoin space and beyond. The Czech Republic’s communist past provided a suitable backdrop for discussions on financial freedom.
The event started with Trezor Day, with key announcements. Trezor introduced Trezor Safe 5, an easy-to-use hardware wallet that combines enhanced security and convenience. They launched Trezor Expert, a service that offers personalized onboarding for self-custody. CEO of Trezor Matěj Žák discussed the risks of centralized exchanges, noting: “Only 2% hold bitcoin in a hardware wallet. Centralized exchanges are a haven for hackers, who risk fees and losses.”
Les Femmes Orange, a community that promotes women’s participation in the bitcoin space, has had a lasting impact. Their event, overlooking the Charles Bridge, brought together over 100 women for networking and discussions. Manager Rachele Geyer highlighted the importance of creating supportive and inclusive environments, stating: “Les Femmes Orange spreads the transformative power of bitcoin, balancing masculine and feminine energies to create a harmonious and prosperous future.”
Ours also had a strong presence with a dedicated booth, underlining its importance in decentralized social media. Unlike traditional platforms that control what users see through algorithms, Nostr uses an open source protocol, giving users the freedom to choose and customize their content. The decentralized nature of Nostr ensures resilience against censorship and promotes privacy and self-sovereignty.
Several panels at BTC Prague focused on issues critical to the future of bitcoin. In “Building the Bitcoin Revolution for Fun and Profit,” Erik Cason, a cypherpunk, spoke about the need for conviction in promoting bitcoin. Quoting Albert Camus, he said, “The only way to deal with an unfree world is to become so free that your very existence is an act of rebellion.” Cason urged the audience to lead the way into a new digital age by building profitable ventures and embracing the struggle as part of the journey.
The “Onboarding the Next Billion People” panel discussed the challenges and opportunities in expanding bitcoin’s user base. Calle he noted, “When the Internet started, no one was telling people how to use it properly. With bitcoin, we can own a part of the network.” The panel discussed the need to streamline bitcoin adoption and address ideological barriers.
Michelle weekly The talk “Protecting Bitcoin from Fiat Corruption” explored the corruption enabled by fiat systems. He argued that the immutable nature of bitcoin counteracts this problem, stating: “Corruption is just a lie or series of lies, and the scale is determined by the number of people willing to participate. We must speak out to fight it.” Weekly highlighted the importance of truth and transparency in the bitcoin ecosystem.
A session on bitcoin education explored its role in promoting community understanding and trust. Hosted by Sofia Principethe discussion took place Reyna Chicas by MiPrima Bitcoin, Isabella Santos by Get Based e Arianna Dixon, director of the Bitcoin Roatan Center. Isabella noted the impact of the scams, saying: “Many associate everything with bitcoin when in reality it is cryptocurrency. That’s why a good education is so important.” Ariana shared her journey from skepticism to support, highlighting the need to simplify bitcoin education. Reyna said patience and collaboration are key, adding, “Don’t judge. Acknowledge people’s bad experiences.” Sophia concluded: “Bitcoin education gives people the opportunity to opt-in or opt-out.”
“Mining: The Energy Revolution” addressed changes in the bitcoin mining industry. Sam Taber, CEO of Bit Digital, faced scrutiny of the industry, saying: “No other industry is put under the microscope like bitcoin miners. Neither the banking sector nor clothes dryers. In California, clothes dryers use more energy than Bitcoin mining.”
Adam Backreflecting on the Cypherpunk movement, he stated: “Cypherpunks were interested in privacy and personal sovereignty, but they also understood that financial transactions are part of everyday life. In the physical world, you pay in cash and others cannot see this that you bought and I judge you based on your choices. Internet you lose that privacy.”
This sentiment resonates with the overall themes, discussing the importance of privacy and individual freedom in a digital world.
A standout side event of the conference was “Satoshi Rockamoto,” which showcased talent in the bitcoin space beyond technology. With DJs, live music and special appearances from bitcoin superstars, it was a memorable celebration of creativity and community spirit.
BTC Prague 2024 showcased revolutionary developments and held important discussions strengthening the collaborative energy needed to educate, build and scale Bitcoin. The event highlighted the power of community and the pursuit of innovation in building a robust and inclusive bitcoin future.