The downfall of FTX and a variety of different centralized finance platforms in 2022 reinforces the narrative that many of the crypto ecosystem will finally collapse on account of its centralization, except Bitcoin (BTC) — at the least in response to Jeff Sales space, a Bitcoin proponent and the writer of The Worth of Tomorrow.
Sales space believes centralized crypto platforms corresponding 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 based mostly on manipulation and centralization,” mentioned Sales space in an unique interview with Cointelegraph.
He argues that even decentralized finance platforms — which search to supply a peer-to-peer, trustless various to conventional monetary companies — are sure to fail, as they’re being constructed on protocols which have sacrificed decentralization and safety with a purpose to increase scalability.
Bitcoin is the one cryptocurrency that continues to be decentralized and safe sufficient to be the bottom layer of the long run monetary system, says Sales space.
“Your complete crypto ecosystem goes to go to zero in addition to Bitcoin,” he mentioned.
To seek out out extra about why Sales space believes Bitcoin might outlive the remainder of the crypto ecosystem, check out the full interview on Cointelegraph’s YouTube channel, and don’t forget to subscribe!
