Vitalik Buterin praised El Salvador’s approach to Bitcoin, saying that chairman Nayib Bukele “loves to be praised” and said Bitcoin maximalists should be ashamed of wrongly praising it. Reason so we read more on our latest bitcoin news today.
In a Reddit post on Friday, Ethereum co-founder Vitalik Buterin praised El Salvador’s approach to Bitcoin and had some strong words for the country’s Bitcoin implementation and, in particular, for Bukele forcing local businesses to accept the main cryptocurrency. After a Reddit user posted: “Unpopular opinion: President of El Salvador, Mr. Nayab (sic) Bukele should not be praised by the crypto community,” said Buterin that there was nothing unpopular about this opinion. Requiring all companies to accept cryptocurrencies contradicts the liberal ideals that are arguably so important for the entire crypto space.
“The tactic of pushing BTC into the hands of millions of people in El Salvador at once, with almost no prior training effort, is ruthless and risks getting hacked or scammed into large numbers of innocent people. Shame on everyone (ok, well, I’ll name those responsible: Shame on the Bitcoin maximalists) who praise him unreasonably. “
Bukele‘s embrace of BTC, since legal tender was announced with a roar at the BTC Miami conference in June, has earned him the applause of some of the biggest voices in the Bitcoin space. The same BTC advocates are less willing to talk about the junior president’s trend towards written approval and less important aspects of the government’s implementation of BTC. An El Salvador business owner who wanted to remain anonymous said:
“It breaks my heart to see Bitcoin maximalists around the world cheering this on when they actually sit down and read the laws and regulations, it is the complete opposite of everyone else what they preach.”
Buterin isn’t the only voice in the crypto space speaking about the contradictions in open and decentralized technology for business owners. During the TOKEN2049 conference in London, Co-Founder Nicolas Cary said:
“I think there is some valid criticism of the way the program has been implemented from top to bottom in El Salvador. One of the main characteristics of cryptocurrencies is that there is real grassroots acceptance and people do it voluntarily. “
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