‘Blockchain Week’ in NYC could bring Billions into the Crypto Market

‘Blockchain Week’ in NYC could bring Billions into the Crypto Market
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Monday kicks off blockchain week in New York City.  The city will host a number of blockchain conferences and events in coming days as thousands of crypto enthusiasts and experts flock to financial capital of the world.  

Hotels around Manhattan will welcome entrepreneurs and their money while acting as a Petri dish for crypto growth. Close to 7000 people are expected to be in attendance at the 2018 Consensus conference.  

Consensus, an event created by CoinDesk Inc. in 2015 will feature a star studded list of speakers, including Twitter Inc. Chief Executive Officer Jack Dorsey, Federal Reserve Bank of St. Louis President James Bullard and FedEx Corp. CEO Frederick Smith. Snoop Dogg will even perform at a party held by Ripple (XRP) in Manhattan’s hip Meatpacking District.

Since its inception in 2015 the Consensus conference has been known to pump the market creating a bull run, and crypto experts are predicting a similar phenomenon this year.  In May 2017, right around last year’s Consensus conference, Bitcoin reached beyond $2,000.

A bull run then ensued for the rest of the year and after the “Consensus Invest” conference in late November Bitcoin nearly hit $20k.  Altcoins also rose the Consensus wave with billions of dollars entering the crypto market. A crash followed this wild bull run but the crypto market cap is still more than 4 times bigger than it was a year ago.

Some experts however, are not as excited about the hyped up Consensus.  Vitalik Buterin, the founder of Ethereum, has recently expressed his disappointment in the cost it takes to attend the conference.  Along with some other complaints, Buterin tweeted that he is boycotting Consensus.

The conference costs $2-$3k to attend. I refuse to personally contribute to that level of rent seeking,” Buterin said in an April 26th tweet.  

He had some harsh words for CoinDesk as well, calling them sensationalists and accusing them of being “recklessly complicit in enabling giveaway scams.” CoinDesk CEO Kevin Worth responded to Buterin’s lashing in a statement to Business Insider.  

He said the company was sorry for a reporting error that they had recently made but defended CoinDesk’s integrity. Worth insisted that the company strives to “maintain the highest level of unbiased, ethical journalism in order to provide the best possible coverage of the blockchain industry,” but did not address Buterin’s objection to the high ticket price for the event.  

Whether it is an overpriced, overhyped event or not, the 2018 Consensus conference is sure to bring a ton of attention to the crypto space.

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