The downfall of FTX and quite a lot of different centralized finance platforms in 2022 reinforces the narrative that a lot of the crypto ecosystem will finally collapse attributable to its centralization, except for Bitcoin (BTC) — at the least in line with Jeff Sales space, a Bitcoin proponent and the creator of The Worth of Tomorrow.
Sales space believes centralized crypto platforms equivalent to FTX and Celsius have merely replicated 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,” mentioned Sales space in an unique interview with Cointelegraph.
He argues that even decentralized finance platforms — which search to offer a peer-to-peer, trustless various to conventional monetary companies — are certain to fail, as they’re being constructed on protocols which have sacrificed decentralization and safety as a way to increase scalability.
Bitcoin is the one cryptocurrency that is still decentralized and safe sufficient to be the bottom layer of the long run monetary system, says Sales space.
“All the crypto ecosystem goes to go to zero apart from Bitcoin,” he mentioned.
To search out out extra about why Sales space believes Bitcoin could outlive the remainder of the crypto ecosystem, check out the full interview on Cointelegraph’s YouTube channel, and don’t forget to subscribe!