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The downfall of FTX and quite a few different CeFi platforms in 2022 has strengthened a Bitcoin maximalist narrative, in response to which a lot of the crypto ecosystem will ultimately collapse on account of its centralization.
Jeff Sales space, Bitcoin proponent and writer of “The Value of Tomorrow”, believes centralized crypto platforms corresponding to 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, in response to Sales space, since they’re being constructed on protocols which have sacrificed decentralization and safety as a way 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 long run monetary system.
“All the crypto ecosystem goes to go to zero in addition to Bitcoin”, Sales space stated.
To search out out extra about why Bitcoin might outlive the remainder of the crypto ecosystem, try the full interview on our YouTube channel, and don’t overlook to subscribe!
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