The downfall of FTX and a lot of different CeFi platforms in 2022 has bolstered a Bitcoin maximalist narrative, in keeping with which many of the crypto ecosystem will finally collapse resulting from its centralization.
Jeff Sales space, Bitcoin proponent and writer of “The Worth of Tomorrow”, believes centralized crypto platforms equivalent to FTX and Celsius have ended up replicating the standard 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.
Even Defi platforms, which search to offer a peer-to-peer, trustless different to conventional monetary companies, are certain to fail, in keeping with Sales space, since they’re being constructed on protocols which have sacrificed decentralization and safety so as to enhance scalability.
To Sales space, Bitcoin is the one crypto that continues to be decentralized and safe sufficient for being the bottom layer of the longer term monetary system.
“The whole crypto ecosystem goes to go to zero moreover Bitcoin”, Sales space mentioned.
To seek out out extra about why Bitcoin might outlive the remainder of the crypto ecosystem, take a look at the full interview on our YouTube channel, and don’t neglect to subscribe!
