The undoing of FTX and many other CeFi platforms in 2022 has reinforced a Bitcoin maximalist narrative, based on which the majority of the crypto ecosystem will ultimately collapse because of its centralization.
Jeff Booth, Bitcoin proponent and author of “The Cost of Tomorrow”, believes centralized crypto platforms for example FTX and Celsius are gone for good up replicating the standard economic climate with all of its natural flaws.
“All crypto is attempting to rebuild an economic system that finances according to manipulation and centralization,” stated Booth, within an exclusive interview with Cointelegraph.
Even Defi platforms, which seek to supply a peer-to-peer, trustless option to traditional financial services, will likely fail, based on Booth, because they are being built on protocols which have sacrificed decentralization and security to be able to boost scalability.
To Booth, Bitcoin may be the only crypto that continues to be decentralized and secure enough to be the bottom layer for the future economic climate.
“The whole crypto ecosystem will visit zero besides Bitcoin”, Booth stated.
For more information about why Bitcoin may outlive all of those other crypto ecosystem, browse the full interview on the YouTube funnel, out on another forget a subscription!