Author: Ryan S. Gladwin
Source: Decrypt
Translated by: Blockchain Plain Language
Looking forward to Token2049 Dubai 2025. Image: Token2049
Last week's Token2049 conference gathered some big names in the cryptocurrency field. As another busy crypto industry gathering in Dubai came to a close, we can't help but recall the bizarre, strange, and thought-provoking remarks heard along the way.
The whispers at the conference revealed the most authentic stories behind cryptocurrencies. Founders and CEOs elaborated on their visions for the future on panels in front of hundreds of attendees, but the real value was often hidden in casual conversations by the buffet or in front of the air conditioning.
Here are five key phrases captured during the conference, and their signals for the future of cryptocurrencies.
01
"I Don't Understand Anything"
Entering the cryptocurrency field can be confusing: technical terms, insider jokes, complex user experiences, and hackers and scams that could quickly wipe out any potential gains. Nevertheless, some newcomers still manage to "succeed".
An elementary school teacher attending Token2049 claimed that he earned big money through meme coins just months after entering the cryptocurrency field. This successful adventure prompted him to fly from Europe to Dubai for the event. But he laughed and said, "I don't understand anything" - and then continued to enjoy his free pasta.
Apparently, even those doing well in the cryptocurrency field find it difficult to fully comprehend everything. Eric Trump agreed, believing that the user experience of cryptocurrencies must be improved to achieve mass adoption. Trump said this was an obstacle to his entry into the field, although with his illustrious family background, he obviously wouldn't chase the meager gains from flipping meme coins. (Hopefully.)
02
"We Are No Longer Early"
A slogan in the cryptocurrency industry was turned upside down at Token2049. "We are early" became "We are no longer early", with people worried that this might be the last chance to catch the bull market, and the industry's violent price fluctuations may be about to end.
This growing fear stems from global institutional and government investments in BTC and other cryptocurrencies. In early last year, the US approved a spot BTC ETF, and a few months later, an Ethereum ETF, allowing traditional investors to purchase BTC. In March 2025, President Trump signed an executive order establishing BTC reserves and digital asset reserves.
Image: Token2049
For many, this indicates that BTC is no longer in its early stages, and many are beginning to think about the next technological revolution that will drive the industry. On the other hand, despite BTC prices approaching historical highs, major industry participants are still throwing out massive price predictions.
03
"BTC Is Created by the Government"
As governments begin to embrace cryptocurrencies, conspiracy theories about BTC's anonymous creator Satoshi Nakamoto actually being part of the government are becoming more popular.
One theory suggests that the National Security Agency created BTC because it published a paper in 1996 titled "How to Mint Money: Cryptography of Anonymous Electronic Cash", proposing a system similar to BTC. Some believe it was the CIA because "Nakamoto" and "Satoshi" roughly mean "Central" and "Intelligence" respectively. Others believe that a random individual could not have conceived such a system.
Drone performance at Token2049 Dubai 2025. Image: Token2049
An unnamed trader at Token2049 told Decrypt: "BTC is created by the government." But then they immediately expressed doubt: "Either that, or it's a random player we'll never know... I hope we never find out."
04
"I Have Inside Information"
Meme coins are the ultimate speculative assets, dominating many cryptocurrency narratives over the past year. However, the hype has cooled in recent months (before this week's rebound) as traders seem tired of the meme coin casino, following insider trading allegations discovered deep in the industry.
In February, Argentina's president promoted a Token called LIBRA, which quickly plummeted 90%. Hayden Davis, CEO of Kelsier Ventures - a company that helped launch the project - casually admitted in an interview with Coffeezilla that he was "sniping" his own Token.
This sparked consecutive allegations of insider trading by influencers and founders, ultimately leading to Ben Chow, co-founder of Meteora, resigning due to connections with Kelsier Ventures. Nevertheless, with calls for Davis's arrest rising, Token2049 attendees still tried to gain similar advantages. After all, speculators will speculate.
In the sweltering heat, Decrypt overheard an attendee pitching: "You should buy [deleted meme coin]... Yes, I have inside information." However, the recipient of the message seemed uncomfortable, moving their seat away.
05
"I Lost $1 Million in Non-Fungible Tokens"
Most traders have abandoned avatar-type Non-Fungible Tokens. At the Pudgy Penguins booth at Token2049, Decrypt heard someone confess to losing $1 million in the long-outdated Non-Fungible Token trend - undoubtedly a terrible day in the office.
Even the most successful Non-Fungible Token projects like DeGods, Milady, and Pudgy Penguins have ventured into the meme coin realm, with many at the conference believing this asset class has become a more liquid and effective way to cultivate community. Nevertheless, hope for Non-Fungible Tokens as a technology has not been completely lost.
Smokey the Bera, founder of Berachain, at Token2049 Dubai 2025. Image: Token2049
Throughout the event, speakers and attendees suggested it's time for Non-Fungible Tokens to shed their brand image as speculative assets and truly create actual products that can bring about change.
Optimists, including Real Vision CEO Raoul Pal, envisioned a future where Non-Fungible Tokens would be used to store important documents and support decentralized digital identities, as the world seeks ways to counter superintelligent AI. However, it needs to be clear that this argument has been echoing in the industry for years, even for those digital ape images worth hundreds of thousands of dollars.
Token2049 revealed many scars of cryptocurrencies, with deep-seated trust issues surfacing - and anxiety about this wild journey coming to an end. But attendees remained optimistic, sharing confidence that the technology will continue to develop and provide opportunities for investors.
Article link: https://www.hellobtc.com/kp/du/05/5848.html
Source: https://decrypt.co/318906/vibes-from-dubai-token2049-chatter-crypto
