As the gathering in New York’s first-ever Blockchain Week warmed up, more and more crypto-fanatics pooled up into Manhattan for Consensus 2018. Even before the event became a thing, news about its high-end provisions and a top committee of speakers were making headlines in the ecosystem. Owing to its impeccable PR and marketing, Bitcoin bull Tom Lee anticipated that the event would harbour a market rally and turn quite a number of heads towards crypto as a whole.
A remarkable highlight of the event was a performance by the 46-year-old, reincarnated Snoop Lion (formerly popular as Snoop Dogg) at the XRP Community Night. Although it was a matter of query to some, as to why the organisers would get a rapper who is way past his prime, to perform for them. Snoop Dogg has previously been involved in the crypto world and has even released his own cryptocurrency, one that suffered its dying convulsions even before it became a thing.
From the point of the event, many people were convinced that while trying to add more jazz to the event, the actual essence was lost somewhere. This became far more obvious when the value of virtual currencies tracked by Coinmarketcap.com has been dipping below $52 billion since May 11. Thus, it will be safe to conclude that rented Lamborghinis, and yacht parties, and Rap veterans fail to undermine the moods of the market. Even Bitcoin, the coin in shining armour, was apparently jinxed and dropped 5.2% this week to $8,003.60. However, this did not shake the beliefs of Arthur Hayes, the executive behind the rented Lamborghinis, who is still hopeful of a $50,000 by this year’s end.
Even though the yacht and Lamborghini make sense to some, but Snoop Dogg or Snoop Lion’s jig at the event was seen as a bad idea. A few of the participants even did not refrain from calling it a superfluous expenditure that hardly did any good. It must be remembered that this is not the first time that Snoop’s association with crypto has blown in his face. Remember SnoopCoin?