# Consensus 2022, Part 2

By [jer979](https://paragraph.com/@jer979-2) · 2022-09-19

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The markets (crypto and otherwise) seem like they are somewhere between free fall and steady descent.

[Celsius paused withdrawals](https://www.nbcnews.com/news/us-news/crypto-firm-celsius-pauses-transfers-withdrawals-markets-tumble-rcna33200) and there’s fear in the market that other firms like BlockFi and Nexo may do the same.

Hard to say if this is the bottom or if there’s more pain on the way.

But here’s what I saw and, yes, it may be confirmation.

At Consensus 2022, there were 15,000 attendees from thousands of companies who descended on Austin for 3 days to continue to explore, grapple, and innovate on the financial system of the future.

The convention center seemed like a protected zone of crypto-enthusiasm as the rest of the world lost faith.

The [Coin Center](https://www.coincenter.org/) dinner, one of the highlights of my year, was attended by Senators, Congresspeople, and regulators, all looking to figure out how to leverage crypto’s innovation power as a catalyst for US growth and not sacrificing economic supremacy.

Yeah, it’s rough out there and it seems like it’s getting rougher.

Stagflation has returned as the word-du-jour and the contagion of fear seems to be spreading.

Maybe I’m too optimistic or naive or stupid, but I see so much opportunity for growth as a result of the arrival of crypto-economic systems.

The good news coming out of Austin was….at least I’m not alone.

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*Originally published on [jer979](https://paragraph.com/@jer979-2/consensus-2022-part-2)*