Cryptocurrency supporters’ party with BYOBitcoin at SXSW
BYOBitcoin throws the first-of-a-kind "Just Hodl It" party at the SXSW tech conference and film festival
Cryptocurrency supporters gathered to party in a nightclub as BYOBitcoin threw the first-of-a-kind “Just Hodl It” party at the SXSW 2018 tech conference and film festival. On 12th March 2018, a late Monday night, the guests danced and enjoyed at the nightclub in Austin, Texas. The night was special as the Rio Club accepted cryptocurrency as the payment method for their bottle service.
‘Hodl’ is a term used in the crypto world to define holding to a digital currency instead of selling it even when the price goes down. The party targeted such crypto boosters, thus the party title “Just Hodl It”. This was true due to the fact Bitcoin is around 9,000 USD still being extremely volatile. In February, the value of Bitcoin fell below 6,000 USD resulting in a global crackdown resulting in a wide sell-off. The ambiance at the Rio club was pleasing despite the recent falls in the price of bitcoin.
Supporters’ party hard at SXSW
Guests received plastic coins at the entrance entitling them to free drinks at the bar. According to a bartender, the guests could receive bottle service using Bitcoin, Litecoin and Ethereum as the payment method. There was a panel of entrepreneurs, who spoke about the current situation of Bitcoin in 2018. Some of them represented companies which sponsored the event.
A panelist motivated solidarity stating, “we all sort of survive this crypto winter.” Randall Crowder, the chief crypto zealot and chief operations officer at Phunware Inc. stated the following in the packed club at Rio which was well-received by the audience;
[Cryptocurrencies have created] one of the largest transfers of wealth going on in the history of the world. It’s just getting started… It’s 1994 all over again, and you have an opportunity to make a load of money.
A cryptocurrency entrepreneur from Toronto, Kim Parnell, mentioned that she was participating in crypto-meetup events and focus panels in the past couple of days. She believes that as digital currencies had a “huge run we had last year,” Bitcoin managed to attract loads of new buyers in 2017. This led to a categorization of cryptocurrency community as novice investors and longtime believers. Those involved in Bitcoin and other cryptocurrencies before 2017 are less concerned about the volatility factor. Currently Parnell plans to focus more on exciting new projects of cryptocurrencies rather than its price.