CZ vs Musk Over DOGE

GM Readers!📪 It's BitDegree Insider, and here's your Web3 iced latte.

⭐️Today's selection:

• 🐕CZ vs Musk over DOGE
• 🤵‍♀️Bitcoin 2023 Conference Attendance
• 🧩️Answer To Thursday Quiz
• 👌Selected Meme of The Day
• 📰Bite-Sized News

CZ vs MUSK OVER DOGE

CZ, the CEO of Binance, woke up and chose violence

Well, not literally, of course. He just decided to share some thoughts about everyone's favorite memecoin, Dogecoin.

So, in its very essence, CZ has expressed his surprise that the memecoin is still alive, and has no plans of leaving.

This happened n Twitter Spaces where a session of "ask me anything" was taking place this Wednesday.

"One memecoin that really surprised me was actually dogecoin. It has had a super long-lasting power. I thought it would have disappeared a long time ago. But Elon Musk latched onto it and extended its life maybe," elaborated the Binance boss.

Important to point out that CZ made it clear that he's not against memecoins in general! He simply prefers tokens that have obvious, palpable use-cases.

For some context, Elon Musk is an outspoken fan of Dogecoin. In 2019, Elon began his affair with the memecoin by tweeting:

"Dogecoin might be my fav cryptocurrency. It's pretty cool."

And then, as you all may remember, just recently he went all-in for a belated April first joke and changed Twitter's logo for the one of Dogecoin's.

So, it's pretty safe to say that the romantic tension between Elon and Dogecoin is still there.

And, following the example set by the wise men and women of the ancient times, CZ shared some wisdom truth-bombs that conclude and summarize the situation perfectly:

"It is what it is," said the man.

TL;DR: CZ shared this thoughts on Dogecoin, saying that he's surprised the memecoin is still alive, and that Elon Musk's endorsement of the coin must have played a role in that.

BITCOIN CONFERENCE HITS AN ALL-TIME LOW

From May 18 to 20, perhaps the most important event in the cryptocurrency community, Bitcoin 2023, is taking place in Miami.

However, the first day of the conference greeted the few guests with empty chairs.

The organizers are linking the drop in attendance to the "bear" market.

According to data from the official website, the event gathered over 35,000 visitors in 2022.

Among the invited guests were sports stars and representatives of the "whales" of the global market.

But this year is different.

Organizers expect the event to gather about 15,000 people.

But the real figures may be even lower.

One of the event participants, Andre Hicks, commented to Decrypt that the drop in attendance is visible to the "naked eye".

Note that a regular ticket for Bitcoin 2023 cost $999.

And the "Industry Pass" was $2299.

The situation is well illustrated by photos from the first day of the conference.

Some presentations took place in halls with more than half of the chairs empty.

Interestingly, the co-founder of MicroStrategy, Michael Saylor, participated in the conference.

In a comment to the press, he stated that the company is interested in Ordinals.

In particular, the co-founder of MicroStrategy sees two positive points in such a move - support for miners in the long term and the growth of Bitcoin adoption.

The first application is something that we have already described.

With Ordinals and BRC-20 gaining popularity, the miners' commissions grow.

This is important for the industry now, whilst the industry is getting back on its feet after the crypto winter, as it will be in the future, when the halving will take place...

And when there will be no more Bitcoin left for mining at all in 2140.

And what concerns the growth of Bitcoin adoption, Saylor points to new functional possibilities of Bitcoin:

"The very idea of liquidating a fragment of data in the blockchain provides new opportunities. I can, for example, burn a digital signature, registration, or a document hash."

As an example, Saylor cited the DocuSign service. It provides secure document circulation, but at the same time, the counterparty is forced to rely on a proprietary database.

Ordinals can change this.

Like Ardoino (CTO of Tether), the co-founder of MicroStrategy opposes blocking Ordinals and BRC-20 tokens.

Let's recall, this idea was voiced by members of the Bitcoin Core team, as the indicated solutions would "pollute" the network.

TL;DR: Bitcoin 2023 conference is expected to receive around 15,000 visitors. In contrast with Bitcoin 2022, when the event gathered 30,000 visitors, such numbers mark a sharp drop in attendance. Organizers link such a change in numbers to bear market and the collateral damage that it has caused.

ANSWER TO YESTERDAY'S QUIZ

Yesterday we asked you:

Can you guess the floor price for the first 10,000 Bitcoin Ordinals inscriptions? Being the initial batch, might they fetch a higher value?

The correct answer to this question is... 

0.1 Bitcoin

Congrats to those who chose the right option!

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• JPMorgan Says the Crypto Market will Recover Once Stablecoins Stop Declining. In little over a month, the crypto market cap decreased by almost 200 million.
• New Non-Fungible Token (NFT) Marketplace DIBA Goes Live. It appears that there is a new player in the NFT marketplace industry.
• Surging Ordinals Craze Triggers Record Litecoin Blockchain Activity. A noteworthy shift in the crypto world has taken place.