Vitalik Buterin Slams El Salvador, Says Shame on Bitcoin Maximalists for Praising President Nayib Bukele
The founder of the Ethereum blockchain, Vitalik Buterin has taken to Reddit to criticize the Bitcoin adoption policy of El Salvador.
Vitalik was particular about the way the government of El Salvador under Nayib Bukele forced Businesses to accept payments in Bitcoin following the acceptance of Bitcoin as a legal tender within the region.
Last month, September, El Salvador made Bitcoin a legal tender officially. Few days after the announcement, a government official noted that businesses that refuse to accept Bitcoin are at risk of violation of the law.
The move generated a lot of reactions. There were protests in El Salvador by the groups that opposed the legislation claiming it was arbitrary. Bitcoiners in the crypto industry praised the President, noting that a new epoch just began in the history of El Salvador.
Similarly, there was a reaction to the Bitcoin legalization by a user on Reddit. It was tagged an “unpopular opinion” and was posted in a crypto community on Reddit about the El Salvador Bitcoin legalization.
The writer stated that the President should not be applauded on the move as it was one that contradicted the decentralized principle on which Cryptocurrency was built. He claimed the president was arbitrary with the legislation.
“Shame on Bitcoin Maximalists” – Vitalik Buterin
Vitalik Buterin reacted to the post noting that the opinion wasn’t “unpopular”. He went on to state that El Salvador got it all wrong by forcing the population to accept Bitcoin without taking through them the process of education. He also slammed the Bitcoin maximalists that applauded the decision of President Naybi Bukele;
“Nothing unpopular about this opinion. Making it mandatory for businesses to accept a specific cryptocurrency is contrary to the ideals of freedom that are supposed to be so important to the crypto space. Additionally, 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.”
What do you think of this story? Share your comments below
Latest Episode on Inside Blockchain
Crypto News Update
Crypto Bootcamp Community Celebrates Bitcoin Pizza Day Across Africa
The advent of Bitcoin has paved the way for seamless cross-border payments. The demand for third-party intervention in financial transactions...
Explore, Build Assets, Fight and Earn in the Supernova Space
A new economy was opened in 2017 when blockchain was integrated into gaming to produce the first Web3 game: CryptoKitties....
Owl.Games: The Rise of Crypto Games in the Casino Industry
Crypto gaming used to be new a few years ago but it’s going mainstream now. However, there are some sectors...
BCAT Africa: Reducing Unemployment in Africa
One of the greatest lines spoken in the Spiderverse is “with great power comes great responsibility”, although it can be...
Gamified NFT Platform Trove Announces Launch Partners SideQuest
Trove has announced its new Launch Partnership with SideQuest, a gamified risk-to-earn NFT collection. It was announced on Twitter today. ...
- Move To Earn: Keep Fit, Sport, Connect and Earn on the Calo Metaverse
- Top 5 Move-to-earn Applications on Google Playstore
- Top Move-to-Earn Projects Below $100 Million Market Cap
- MetaRuffy: An Intersection of Blockchain, Web3, VR, and AR
- Crypto Bootcamp Community Celebrates Bitcoin Pizza Day Across Africa