Bitcoin Set To ‘Tick, Tick, Tick’ Until Late 2023: DeFi Executive

Bitcoin (BTC) is set to claim the cryptocurrency throne by the end of 2023, as its superiority is “going to become apparent” in every aspect, according to Fedi’s CEO.

During the Bitcoin 2023 event in Miami on May 20, Cointelegraph reporter Joe Hall interviewed Obi Namosu, CEO and co-founder of Fedi – a custodial platform that provides an alternative solution for those who do not have access to centralized exchanges. Do not have or do not trust them.

Meeting the housemates is the best part of conventions. @Obi @Felix Weiss taking picture!

Have known these friends for almost over a decade! 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 hard to deny” that bitcoin’s ecosystem is the “fastest, cheapest, easiest, most decentralized and secure” of all crypto ecosystems.

Namosu estimates that by the end of the year it will become even more clear. He mentioned:

“It’s going to be clear by the end of this year that it’s going to be tick, tick, tick for bitcoin.”

He added that whether the goal is to develop functionality, establish a decentralized social media network, or even empower local communities, it is becoming “increasingly clear” that bitcoin is the most efficient and secure solution. .

However, he believes that there is room for other cryptocurrencies besides bitcoin. He envisions a “multi-coin future”, comparing it to the evolution of music.

“I mean there are still record players and vinyl right now… there are still some people who prefer tapes and laser discs.”

Furthermore, he stressed that there is a “huge misunderstanding” about its “slow innovation”.

He explained that while people believe there is a functional or scaling limit with bitcoin, “the reality is” that development is happening incredibly fast, with a focus on building solutions “that are right the first time.”

Namosu pointed out that prioritizing perfection can be delayed, but is preferable to requiring changes to be made “frequently”.

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In Nwosu’s view, cryptocurrency is essentially “an idea”, as it is “a combination of philosophical aspects and technical aspects mixed together”.

He explained that due to the intangible nature of cryptocurrency, it cannot be tied to physical forces like “guns or missiles.” Instead, it is vulnerable to attacks through “misinformation and sometimes unfair or excessive regulation”.

According to Nwosu, countries that lack faith in freedom of speech, or freedom overall, are actively looking into this tighter regulation for cryptocurrencies.

He believes the key to fighting against it is to “correct” misinformation and create a system that “empowers the good guys”.

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