Vitalik Buterin bashed El Salvador’s Bitcoin approach and said that president Nayib Bukele “loves being praised” and said that Bitcoin maximalists should be ashamed that is uncritically praising him so let’s read more in our latest Bitcoin news today.
In a Reddit post on Friday, Ethereum co-founder Vitalik Buterin bashed El Salvador’s approach to Bitcoin and had some strong words for the country’s bitcoin rollout and especially Bukele for forcing local businesses to accept the main cryptocurrency. After the Reddit user posted: “Unpopular opinion: El Salvador president Mr. Nayab (sic) Bukele should not be praised by the crypto community,” Buterin said that there’s nothing unpopular about this opinion. Making it mandatory for all businesses to accept the crypto is contrary to the ideals of freedom which are supposed to be so important to the entire crypto space.
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“This tactic of pushing BTC to millions of people in El Salvador at the same time with almost no attempt at prior education is reckless, and risks a large number of innocent people getting hacked or scammed. Shame on everyone (ok, fine, I’ll call out the main people responsible: shame on Bitcoin maximalists) who are uncritically praising him.”
Bukele’s embrace of BTC as of legal tender was announced with great fanfare at the BTC Miami conference in June and earned him raves from some of the biggest voices in the bitcoin space. Those same BTC flag-wavers were been less eager to talk about the young president’s documented authorization tendencies and are less savory aspects of the government’s BTC rollout. One business owner from El Salvador, who required anonymity said:
“It crushes my soul to see Bitcoin maximalists around the world cheering this when, if they actually sat down and read the law and regulations, it is completely opposite to everything they preach.”
Buterin isn’t the only voice in the crypto space that is speaking about the contradictions out in the open and the decentralized technology on busienss owners. During the TOKEN2049 conference in London, co-founder Nicolas Cary said that:
“I think there’s some valid criticisms of how the program is rolled out in El Salvador in terms of being top down. One of the main ethos of crypto is that there’s really grassroots adoption, and people are doing it voluntarily.”
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