The downfall of FTX and a variety of different centralized finance platforms in 2022 reinforces thenarrative that many of the crypto ecosystem will ultimately collapse as a consequence of its centralization, apart from Bitcoin (BTC)— a minimum of in accordance toJeff Sales space, a Bitcoin proponent and the creator of The Value of Tomorrow.

Sales space believes centralized crypto platforms comparable 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 providers — are certain to fail, as they’re being constructed on protocols which have sacrificed decentralization and safety in an effort to enhance scalability.

Bitcoin is the one cryptocurrency that is still decentralized and safe sufficient to be the bottom layer of the longer term monetary system, says Sales space.

“All the crypto ecosystem goes to go to zero in addition to Bitcoin,” he mentioned.

To search out out extra about why Sales space believes Bitcoin might outlive the remainder of the crypto ecosystem, check out thefull interview on Cointelegraph’s YouTube channel, and don’t overlook to subscribe!