The downfall of FTX and 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, aside from 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 corresponding to FTX and Celsius have merely replicated the standard monetary system with all its inherent flaws.
“All of crypto is attempting 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.
He argues that even decentralized finance platforms — which search to supply 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 with a view 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.
“All the crypto ecosystem goes to go to zero apart from Bitcoin,” he stated.
To seek 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!