A fundamental aspect of Bitcoin is the constant operation and global accessibility.
The bitcoin market truly never stops. Day in and day out, Bitcoin transactions are occuring, miners are mining and nodes are validating. The mere physical persistence of Bitcoin on this level represents the truly decentralized nature of the entire network; as the technology is operable by anyone with a computer, so it shall operate unceasingly.
While it may be overseen as a small aspect of the network, the 24/7 activity is actually an integral part of what makes Bitcoin usable. The market is global; it doesn’t operate on North American Eastern time, it doesn’t close on Sundays or on Holidays unobserved and one never has to ask “is Bitcoin down?”
With this in mind, one of the great topics this year at Bitcoin 2022 taking place on the Nakamoto Stage was the “Markets That Never Sleep,” panel. The panel consisted of industry players who have experienced the ins and outs of trading, investing in and operating the exchanges of the bitcoin market.
Director at Bitcoin Magazine Christian Keroles was joined by Kanav Kariya, president at Jump Crypto, Vice President of Product Strategy at TradeStation Crypto James Putra, as well as Robert Zagotta, CEO of Bitstamp USA and Evgeny Gaevoy, founder and CEO at Wintermute.
Speaking on the transformation in the timing of markets versus traditional markets, Zagotta said “it's gonna be a major cultural shift for traditional finance firms to understand and operate on a 24/7 basis.”
Putra agreed, stating, “coming from the TradFi side, it took us four years to build the knowledge … when all of your processes stop at five oclock, and you start trying to change them, you find things start breaking that were built 10 years ago.”
Kariya also agreed, stating, “...the landscape in the crypto markets is so much broader … its coming right for the throats of the major firms you see today.”
On the conference scale, Gaevoy stated, “it's really amazing how far the bitcoin community has come.” Indeed it is!
Bitcoin 2022 is part of the Bitcoin Event Series hosted by BTC Inc, the parent company of Bitcoin Magazine.