The financial ecosystem is changing radically. The Cayman Investment Forum recognizes this, and hopes to address concerns about this new financial world. The founders of the event believe either bitcoin or gold will represent the future store of value. They are pursuing this thought by having their elegant conference focus on the monetary paradigm shift and the failing US dollar. The event falls on October 11 at the Cayman islands.
The Cayman Forum website elaborated more on the nature of the event: “Money may be about to change, again. This investment forum will look at money, its history, the reserve currency of the world, money in the shadows, the reserve currency of history, and cryptocurrency. A persuasive case can be made that we are on the cusp of a new monetary era. Prominent examples of the changing nature of money include: cryptocurrencies are just watercooler conversations, central banks halted and then reversed a 20-year streak of selling gold, Sweden is nearly cashless…and India blazed a path to electronic-currency by demonetizing 95% of cash in circulation.”
Conference Speakers: Addressing the Failing US Dollar or “Shadow Money”
The conference represents an alternative view of investment, trading, and finance, especially in regards to the current digital age. Speakers include investor Tuur Demeester, who is a known cryptocurrency enthusiast. He is the founder and editor-in-chief of Adamant Research, and is published regularly for various publications. Other speakers include Jeffrey Snider, who specializes in looking into the collapsing mainstream economy.
Most of the speakers have a history of criticizing the current financial system and actively want it to collapse. They see cryptocurrencies, especially bitcoin, as undermining legacy finance. For instance, Jeffery Snider sees the current monetary system as a system of “shadow money.” The forum website elaborated on his perspective:
This vast body of shadow ‘money’ has various aliases: eurodollars, wholesale funding, credit-based capital. Like dark energy it is not directly observed and its existence is disputed. Mr. Snider will reveal the bewildering true story of money that first assimilated the global economy, and then, on August 9, 2007 began to decompose and with it our finances, economy and politics.
Conference Praise Bitcoin; Bitcoin as Investment Instrument or Money?
The interesting aspect of the conference is the debate over whether gold or bitcoin will act as the primary store of value after the dollar collapses. According to the event article, two factions exist: one that believes cryptocurrencies will prevail and one that sees gold as the winner. Some of the speakers believe that cryptocurrency is also a store of value and not money.
This is cetainly one of the common arguments that predominates the bitcoin ecosystem, as some on the blockstream team appear to want bitcoin as “digital gold,” rather than a payment system. It will be interesting to see how the discussions of the conference turn out. In either case, the bitcoin ecosystem is growing as alternative summits and conferences spur more interest in digital currencies and blockchain.
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