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The Crypto-enthusiasts Party on Blockchain cruise as Bitcoin market sinks

Jan 19, 2018 Posted /  9713 Views

The Crypto-enthusiasts Party on Blockchain cruise as Bitcoin market sinks

When everyone else is debating about the doom of Bitcoin, the 600-cryptocurrency enthusiasts and the on paper millionaires of crypto are partying comfortably on the blockchain cruise. The group started their journey from Singapore on Monday night for their second annual Blockchain cruise, the Bloomberg reports. By the time they begun, the bitcoin was standing at $13,500 and in the next coming days it dipped to $10,000. It is now holding itself at $11,666.

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Nonetheless, these crypto-enthusiasts on board seem to be least worried about the dips in the leading virtual currency price or the drop in any cryptocurrency at all. The group consists majorly the young men from around the globe who became enormously rich due to the last year gains. We can say that as per the current price charts they have lost millions collectively, but it doesn’t seem to affect them at all.

The media reports that party persisted with Bitcoin-themed rap music on the private Thailand beach. In an interview to Bloomberg Ronnie Moas, the founder of Miami Beach-based Standpoint research remarked, “Nothing goes up in a straight line.” Moas was also one of the event’s speakers in the Wednesday session. He predicted best for the Bitcoin and said that the currency could jump to $300,000 in as little as seven years.

The steadfast optimism on display at this week’s Blockchain Cruise also carries a warning for anyone betting on a cryptocurrency crash: It’s going to take more than a 50 percent drop in Bitcoin from its Dec. 18 high to drive out the diehards.

“This is something that you either believe in or not,” said Moas, who has become a crypto-celebrity after issuing stratospheric price forecasts for Bitcoin.

The media reports that cruise’s assorted list of speakers included Jose Gomez, a former aide to the late Venezuelan President Hugo Chavez; Kaspar Korjus, the head of Estonia’s e-residency program and Jorg Molt, an early digital currency backer whose claim to hold 250,000 Bitcoins (worth $2.8 billion at the current price).

However, the spotlight on the Blockchain Cruise remained on John McAfee, the anti-virus software pioneer who now assists MGT Capital Investments Inc., a small-cap tech company with a Bitcoin mining business. The Twitter gives him the crown of a cryptocurrency evangelist who is constantly supporting the technology and his piece of advice on various crypto-investments, while he offers various tokens to his more than 700,000 followers. He was appointed as the headline speaker at the event. In his speech he blamed that the recent market slouch in the cryptocurrency market was because of the unfounded fear of government intrusion. He urged cryptocurrency holders, one of whom sported a “Buy The Dip” t-shirt, to resolve with their decision.

“You cannot force a ban on a distributed system,” McAfee said in an interview after his speech. “It’s like how do you ban smoking weed? You can’t ban it. People will come back.”

Nonetheless, attendees, unsurprisingly, had plenty to talk about blockchain too, the distributed ledger technology that underpins Bitcoin and its potential to enhance industries from finance to healthcare.

Charity was also a topic raised by speakers including Moas, who urged the audience to donate some of their newfound wealth and help reduce global inequality.

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Tags: Party on Blockchain Blockchain cruise Bitcoin Market digital currency

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