Bitcoin (BTC) is ready to claim the cryptocurrency throne by the end of 2023, because its superiority will be “clear” in every aspect, according to the CEO of Fedi.
During the Bitcoin 2023 event in Miami on May 20, Cointelegraph reporter Joe Hall interviewed Obi Nwosu, the CEO and co-founder of Fedi – a Bitcoin community custody protocol that offers an alternative solution for those without access or does not rely on centralized exchanges.
These dudes have been known for almost a decade now! And what a decade it has been! pic.twitter.com/1UcfX6KdIg
– Marshall Long (@OGBTC) May 19, 2023
Nwosu emphasized during the interview that it is becoming “harder to deny” that Bitcoin has the “fastest, cheapest, easiest, most decentralized and secure” ecosystem.
He expects this to become more apparent by the end of the year. He said:
“It will be clear by the end of this year that it will be tick, tick, tick for Bitcoin.”
Nwosu said that whether the goal is to improve functionality, build a decentralized social media network, or even empower local communities, it has become “increasingly obvious” that Bitcoin is the most efficient. and safe solution.
However, he believes there is room for other cryptocurrencies in addition to Bitcoin. He envisions a “multi coin future,” comparing it to the evolution of music.
“I mean there are still record players and vinyl right…there are some people who like tapes and laser disks.”
Furthermore, he emphasized that there is a “huge misunderstanding” about the “slow evolution” of Bitcoin.
He explained that there is a misconception that there is a functional or scaling limit in Bitcoin, but the “reality is” developments are happening “incredibly fast,” with a focus on creating solutions “that was right the first time.”
Nwosu pointed out that prioritizing perfection may cause delays but is better than the need for changes to be made “again, and again.”
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In Nwosu’s view, cryptocurrency is essentially “an idea,” as it is “a combination of philosophical aspects and technological aspects kind of combined”.
He explained that due to the intangible nature of cryptocurrency, it cannot be combated by physical forces such as “guns or missiles.” Instead, it is vulnerable to attacks by “misinformation and sometimes inappropriate or excessive regulation.”
Countries that lack faith in freedom of speech, or just freedom in general, are actively looking at this strict regulation of cryptocurrency, according to Nwosu.
He believes the key to combating this is to “correct” misinformation and create systems that “empower good people.”
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