The downfall of FTX and quite a few different CeFi platforms in 2022 has strengthened a Bitcoin maximalist narrative, based on which many of the crypto ecosystem will ultimately collapse as a consequence of its centralization.
Jeff Sales space, Bitcoin proponent and creator of “The Worth of Tomorrow”, believes centralized crypto platforms reminiscent of FTX and Celsius have ended up replicating the normal monetary system with all its inherent flaws.
“All of crypto is making an attempt to rebuild a monetary system that we have already got primarily based on manipulation and centralization,” stated Sales space, in an unique interview with Cointelegraph.
Even Defi platforms, which search to offer a peer-to-peer, trustless different to conventional monetary providers, are sure to fail, based on Sales space, since they’re being constructed on protocols which have sacrificed decentralization and safety in an effort to enhance scalability.
To Sales space, Bitcoin is the one crypto that is still decentralized and safe sufficient for being the bottom layer of the longer term monetary system.
“The complete crypto ecosystem goes to go to zero apart from Bitcoin”, Sales space stated.
To search out out extra about why Bitcoin could outlive the remainder of the crypto ecosystem, try the full interview on our YouTube channel, and don’t neglect to subscribe!