The conference took place in town's Wynwood neighborhood -- a cultural mecca north west of downtown, where the stucco, brick and concrete walls are painted with vibrant graffiti art.
Seminar organizers estimated 50,000 attendees would come and go for the two-day convention (or three-day convention, for those who had an all-access"Whale pass" and started things off on Thursday), where speakers, investors and scholars came together to talk about Bitcoin's rapid expansion and potentially promising potential.
"Sorry, not so sorry, Los Angeles," Suarez said during his 9 a.m. speech. Suarez has dubbed Miami the crypto funding of the U.S., as well as"the capital of funding."
Abolish the Federal Reserve?
Despite long food lines -- along with a very long bathroom line, for men in particular -- most attendees appeared to be having fun speaking and networking with like-minded folks around everything from crypto to politics.
"Liberty" and"liberty" were just two other oft-repeated points of conversation in the summit.
"If you are a friend of mine, you're a friend of freedom," former Texas Republican Rep. Ron Paul said in his Friday speech, including that the U.S. currently has"a lack of independence," but the folks in the summit were"very much in tune about the essentials of liberty"
That's because Bitcoin, like other cryptocurrencies, is decentralized, meaning investors deal directly with each other rather than through a central bank.
"Everybody wants financial liberty, I would hope," Paul explained. "But...I wish to clarify that name because some people today want free cash, and that's different. And there is a great deal of spare money circulating on the market these days, and it's totally fake, and it is all political corruption that goes in. ... It gets the country poorer no matter how many men and women get wealthier in the meantime."
"If you know anything about me personally -- and I've been in politics for a couple of years -- I've a remedy," Paul continued." ...We don't need the Federal Reserve. It is constructed with corruption. So what we need to do is get rid of the Federal Reserve."
Different speakers during the weekend agreed with or contested Paul's comments, which were met with big applause, but it turned out to be a popular one yet. Fellow Republican politicians such as Wyoming Sen. Cynthia Lummis and Ohio Rep. Warren Davidson also discussed the significance of Bitcoin with regard to American liberty and free markets.
Lummis, who served as Wyoming state treasurer for eight decades, expressed concerns with China's plans to make a digital Yuan by the 2022 Winter Olympics and advocated U.S. politicians to"grab "
"We must teach our colleagues about digital currency -- exactly what its advantages are, why it will definitely keep the U.S. dollar the world reserve currency -- and why it's important that people have Bitcoin underpinning the U.S. dollar as a store of value, just like gold used to be," she explained." ...I'm hopeful that Congress will react in a manner that keeps us competitive around the globe and keep us the currency which you need to maintain if you are in Venezuela...or China."
Lummis added that the beauty of Bitcoin is that anyone with a"phone" could function as"own banker"
"That is one of those fantastic egalitarian things about Bitcoin that I'm so enthusiastic about," she said.
The senator also said she is attempting to make a financial innovation caucus to attract focus on the topic of cryptocurrency on Capitol Hill.
Earlier on Friday, Tyler and Cameron Winklevoss -- twin billionaire Bitcoin investors known for their dispute with Mark Zuckerberg over the production of Facebook -- made the promise that the Fed's bad reputation actually helps improve Bitcoin's popularity. Tyler referred to the U.S. dollar as the"ultimate sh-tcoin" while Tyler sported a t-shirt which read,"Rage against the system "
Elon Musk malice
The billionaire tech entrepreneur tweeted that a broken heart emoji roughly Bitcoin on Thursday that some investors connected to the cryptocurrency's price drop on Thursday.
Max Keiser, host of the"Keiser Report," began his Friday fireside conversation by repeating,"F-ck Elon!" several times.
Lots of conference attendees posted on societal media about their disappointment in Musk, who recently declared Tesla would stop accepting Bitcoin for automobile purchases due to environmental concerns that were imputed with sending the economies lower in May.
NFL tackle and Bitcoin enthusiast Russell Okung launched a billboard campaign Friday in Miami just in time for the conference, as well as at Brownsville, Texas, and Santa Clara, Calif., near the SpaceX and Tesla headquarters. The billboards state,"Stick into Space, Elon."
"Bitcoin has no marketing department or dedicated PR team to push against bogus information," Okung stated in a statement. "This effort is meant to correct the false public narratives around Bitcoin's energy use and to promote Elon to stick to exactly what Elon does best."
The cryptocurrency neared $40,000 before their first day of the seminar but fell to just over $35,500 late Thursday evening. Musk posted the broken-heart tweet about 9 p.m. EDT.
Bitcoin mining is done by solving mathematical puzzles on powerful computers which require considerable amounts of energy.
However, other cryptocurrency experts disagree with Musk's evaluation. Michael Saylor, co-founder of the company intelligence company MicroStrategy plus also a staunch Bitcoin defender, said during the summit he believes"Bitcoin is the most efficient utilization of energy which the human race has yet come up with."
Jack Dorsey's perspectives on Bitcoin came in contrast with Musk's if the Twitter and Square founder and CEO spoke at the conference on Friday.
Dorsey, who has bought over $200 million in Bitcoin during Square since October of this past year, said Friday that if he weren't working on his two tech firms, he'd spend the rest of his life working to grow Bitcoin.
"If I were not in Square or even Twitter, I would be operating on Bitcoin," Dorsey said during the seminar." ...Anything I can do -- anything my businesses can perform -- to create Bitcoin accessible to everyone, that is precisely what I'll do for the rest of my life."
Dorsey said he believes Bitcoin, particularly, is going to be employed by"more and more people" in years ahead.
"It is an incredible asset," he explained. "The world wide web requires a native currency."
He added that he believes individuals around the world will need to"transact" with Bitcoin"every single day" in the long run, which is exactly why his companies don't work with another cryptocurrencies besides Bitcoin, he explained at the conference.
Tony Hawk speaks crypto
Professional skateboarder and early Bitcoin investor Tony Hawk was a huge focus of Saturday's conference occasions.
Hawk, 52, told convention attendees during his Saturday morning interview with actor Jeremy Gardner his curiosity in Bitcoin first came to existence after information circulated concerning the"Silk Road," which was a dark net marketplace that allowed users to exchange Bitcoin for drugs online. Federal officials shut down the digital marketplace in 2013.
"I was fascinated with the payment system they had," he explained." ...There was an anonymous facet to it, but also just the idea that it was quite quickly, it was global and it seemed like that, to me, wasn't the future of financing. I immediately researched,'How can I buy Bitcoin?' I was not on Silk Road but I did purchase Bitcoin at 2012."