Bitcoin (BTC) is set to reclaim the cryptocurrency throne by the end of 2023since its superiority “is going to be clear” in all aspects, according to the CEO of Fedi.
During the Bitcoin 2023 event in Miami, Cointelegraph reporter Joe Hall interviewed Obi Nwosu, the CEO and co-founder of Fedi, which is a bitcoin community escrow protocol that offers an alternative solution for those who lack access to or do not trust centralized exchanges.
Catching up with homies is the best part of conferences. @obi @FelixWeis taking the picture!
Known these dudes for over almost a decade now! And what a decade it’s been! pic.twitter.com/1UcfX6KdIg
— Marshall Long (@OGBTC) May 19, 2023
Catching up with colleagues is the best thing about conferences. @obi @FelixWeis taking the photo!
I’ve known these guys for almost a decade! And what a decade!
Nwosu stressed during the interview that it is increasingly “harder to deny” that bitcoin has the “fastest, cheapest, easiest, decentralized and safest” ecosystem.
He anticipates this to become even more apparent later in the year. And he added that:
“It’s going to be clear by the end of this year that it’s going to be win time for bitcoin.”
Nwosu said that whether the goal is to develop functionality, establish a decentralized social media network, or empower local communities, it is becoming “more obvious” that bitcoin is the most effective and safe solution.
However, he thinks that there is room for other cryptocurrencies besides bitcoin. He envisions a “multicoin future”, comparing it to the evolution of music.
“I mean, there are still record players and vinyl, right; there are still people who like tapes and laser discs.”
In addition, he emphasized a “Big Misunderstanding” Regarding Bitcoin’s “Slow Innovation”.
There is a misconception that there is a functional or scaling limitation with bitcoin, but the “reality is” that developments are happening “incredibly fast”said Nwosu, adding that there is a focus on creating “right the first time” solutions.
Nwosu stressed that pprioritizing perfection can cause delays, but is preferable to needing to make changes “over and over again”.
In Nwosu’s opinion, cryptocurrency is “an idea”, since “it is a combination of the philosophical aspects and the technological aspects as they are combined”.
He explained that, due to the intangible nature of cryptocurrencies, they cannot be fought with physical forces such as “guns or missiles”. Instead, are vulnerable to attack through “misinformation and sometimes inappropriate or extreme regulation”.
According to Nwosu, countries that do not believe in free speech, or just freedom in general, are actively seeking this strict regulation towards cryptocurrencies.
believes that the key to fighting this is to “correct” misinformation and create systems that “empower the good guys”.
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