The Consensus conference was coldly received, but Meme was booming. Is making money the best consensus?

Original title: "No one reached consensus at the consensus conference, and the foot of the Meme Mountain was overcrowded"

Original source: TechFlow

People do not share the same joys and sorrows.

In addition to not accepting each other's orders, there is also a lack of attention to market hotspots.

For example, today, everyone is only concerned about the rapid rise of NOT and the return of RoarKitty, which has driven the soaring of GME-related Memes, but has forgotten that today is still an important day for the annual Consensus conference in the industry.

Since 2015, the Consensus conference held by CoinDesk has become one of the most important annual gatherings in the global blockchain and cryptocurrency field. At that time, it was once a weather vane for technological innovation and a barometer of investment and regulatory trends.

The annual conference generally brings together the elites of the global crypto industry to discuss and shape the future direction of technology and the market.

And at this time of year, there will be reports about new ideas or topics released at the conference.

It’s just that this year, no one seems to have a consensus at the Consensus Conference.

The Consensus Conference, from a bustling crowd to no consensus

Holding a conference is, to some extent, a clear reflection of the rise and fall of the industry.

For example, in 2018, when the ICO craze was in full swing, the Consensus Conference was crowded with people, and everyone wanted to smell their own opportunities from the breath of coin issuance; and then in the bear market cycle, the Consensus Conference was a little dull and boring, and everyone began to discuss Build seriously again.

Regardless of whether the market is bullish or bearish, one phenomenon that can be easily observed at this year's consensus conference is that few people discussed it at the conference.

Looking through the intensive bombardment of news flashes from various media outlets every minute, you can't even see any information about the consensus conference; it is obvious that the information push mechanism has already screened out "which information is not important".

Yes, the market is more important.

At that time, the consensus conference, which discussed the direction of the industry and technology from a high-level perspective, gradually led everyone to form a consensus that "the conference has little impact on the market".

You open yours, and I stir mine.

This separation of industry exchanges from the behavior of market participants, and the decoupling of authority and attention, make the entire crypto market more like a thorough meme playground.

According to the impressions of the netizens present at the conference, the audience for the keynote speeches was very few, which was incomparable to the heyday of the New York Consensus Conference 5 years ago.

If the conference itself is not popular, and there are still a lot of memes soaring in the market, then this bull market is more like a localized capital movement and PVP, the industry cake has not grown, there are no more retail investors entering, and Google Trends hot searches are still stable at a low level...

In a structural bull market, will depression be locked up by the information cocoon?

If the impressions of individual participants may be very subjective illusions, then the remarks of the guests sitting on the stage may be more referenceable.

Casey, the founder of Ordinals protocol, bluntly stated at Consensus 2024 that 99.99% of the projects participating in the conference are complete shit.

This can't help but remind people of the classic emoticon package in the currency circle: "Don't get me wrong, I mean everyone here is garbage."

Obviously, the guests at the conference know what everyone is doing and what kind of people are coming.

It's just that the consensus conference, which represents the vane, has gradually been inflated, which inevitably makes the industry characteristics of form over content more obvious.

Meme Mountain is Overcrowded

In contrast to the lack of consensus at the consensus conference, Meme hype is everywhere.

NOT is far ahead, but in fact, NOT itself is not a "value coin" in the classical narrative. To some extent, you can still classify it as a more Meme-like type; and the latest data shows that NOT's 24-hour total network transaction volume exceeds 4.6 billion US dollars, second only to BTC and ETH.

In addition to NOT, different Memes are like different mountains formed by the impact of attention, and the mountains are overcrowded.

Whether it is a political election or a celebrity issuing a coin, it is nothing more than looking for a reason to hype up attention, and the related new coins will soar; and even old coins may be revived because of a tweet from RoarKitty announcing her return, and it is not uncommon for them to double in a few hours.

Everyone is eager to get on the train at the foot of different Meme mountains, and no one thinks they are standing on the top of the mountain.

In such a mountain climbing competition, WangQiao also pointed out another consensus in the meme hype: it is a good thing for a celebrity to buy a certain coin; it is a bad omen for a celebrity to issue a certain coin.

All consensus is related to the way of playing with attention, who brings the goods, what goods they bring, when to buy... All of this has nothing to do with technology.

Making money is the best consensus mechanism

Consensus, in blockchain technical documents, is often used to describe consensus protocols.

What is a consensus protocol?

To put it bluntly, it is a method to allow parties who do not trust each other and have no interests to reach a consensus.

Now this technical term has a more humane annotation:

What is agreed upon is not necessarily technology, but more likely interests.

For today's crypto market, making money is the best consensus agreement. Wherever we can make money, we should pay attention to it.

It is too tiring to do practical things with technology and it is not cost-effective. If you can make money today, then do today's work. This has probably become a tacit but unspoken consensus among industry players.

Once the consensus on crypto assets was Bitcoin Gold and Litecoin Silver; then it became Bitcoin Gold and Ethereum Silver, and now there are even some debates and challengers on whether Ethereum is silver.

There is no fixed gold medal, and different sectors and hot spots are vying for attention.

Reaching a consensus often requires a price, and I hope that everyone is not the one who pays the price, but the one who holds the profit.

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