In an interview published by the Financial Times, Sam Bankman-Fried, FTX founder, criticized the implementation of bitcoin as a payments network.
Sam Bankman-Fried, the founder of the cryptocurrency exchange FTX, has given his take regarding the future of Bitcoin’s usage. Bankman-Fried stated he doesn’t believe that Bitcoin will work as a payments network, due to its limited capability for scaling to fulfill this task. However, he believes it might become “an asset, a commodity, and a store of value.”FTX founder Sam Bankman-Fried has given his opinion about where bitcoin is going and the real value of its structure in the future.
In an interview published by the Financial Times, Bankman-Fried criticized the implementation of Bitcoin as a payments network. To him, the Bitcoin blockchain system will never work as a day-to-day payments system for several reasons.A perceived lack of scalability of the Bitcoin blockchain is one of them, and the second reason presented by the executive has to do with the energy and environmental implications of this hypothetical growth compared to other alternatives.
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