Open2015

Bitcoin’s Success Predicted: Real Adoption Flourishes in Global South

• In 2020, Obi Nwosu predicted that Bitcoin would face attacks during the 2018 to 2023 period but would ultimately be successful by the end of it.
• In 2021, he sold Coinfloor due to the focus on regulated Bitcoin and the negative effects this had on the ecosystem.
• In 2022, real Bitcoin is flourishing in the Global South and post-Soviet regions, with new versions of frontier towns emerging.

The year 2020 was a tumultuous one for Bitcoin. With the Celsius bankruptcy in July, it was clear that the Bitcoin ecosystem was not healthy. The fact that we were using a decentralized currency to mirror the centralized financial system did not match the vision for Bitcoin, and the bear market that followed only made the situation worse.

This prompted Obi Nwosu, CEO of Fedi and a board member for ₿trust, to make a prediction: that Bitcoin would face attacks during the 2018 to 2023 period, but would ultimately be successful by the end of it. He was not a prophet, but he knew that this would be a critical time for Bitcoin.

In 2021, Obi Nwosu sold Coinfloor, an exchange dedicated to keeping its users trapped in regulated Bitcoin land. This decision was made due to the negative effects the focus on regulated Bitcoin had on the ecosystem, as was painfully demonstrated by the collapse of FTX, the regulatory fallout and the losses incurred by so many innocent people.

As we near the end of 2022, real Bitcoin is flourishing in the Global South and post-Soviet regions. Innovation is addressing the narrative that Bitcoin has no good use cases, with new versions of frontier towns emerging that combine renewable energy, Bitcoin mining, internet connectivity and community custody. It is clear that real Bitcoin adoption can only come from below, and that the value Bitcoin can bring to the world is the key to its success.

The future of Bitcoin is uncertain, but one thing is certain: real Bitcoin will persevere and come out on top. As Obi Nwosu predicted, Bitcoin will emerge successful by the end of the 2018 to 2023 period, and will continue to revolutionize the world of finance.