Vitalik Buterin Calls El Salvador’s Bitcoin Experiment “Reckless”

Ethereum Vitalik Buterin slammed Bitcoin maximalists for ‘uncritically praising’ Nayib Bukele

Ethereum co-founder Vitalik Buterin recently criticized El Salvador’s approach to adopting Bitcoin, describing it as “reckless” in a comment he left on r/CryptoCurrency, the largest cryptocurrency-related subreddit.   

Buterin believes that forcing companies to accept any cryptocurrency goes against the ethics of the space.

The Russian-Canadian programmer adds that Salvadorans are at risk of falling victim to hacks or scams because of a lack of education.

In a follow-up comment, Buterin ridiculed Bitcoin’s maximalists as a community easily influenced by powerful allies:

Bitcoin maximalists are a very easy community to get to praise you: you just have to be in a position of power and do or say nice things about them and their coin.

Last month, Buterin also criticized Twitter CEO Jack Dorsey for attempting to recreate decentralized finance on Bitcoin with “a much weaker trust mode.”

His most recent comments were not left unnoticed by the Bitcoin community, whose members accused Buterin of being “salty” and hypocritical.

A pioneering experience

As reported by U.Today, El Salvador became the first country to adopt borderless and decentralized cryptocurrency as its official currency.

Opponents, however, argue that the budget allocating to the great Bitcoin experiment could have been used for improving the country’s healthcare or education systems.

It is mandatory for traders to accept Bitcoin in early September, although President Nayib Bukele has said it will be voluntary less than two months before the law goes into effect.

Yet, some Bitcoiners believe that mandatory acceptance is necessary in order to force international corporations of the likes of McDonald’s to accept Bitcoin.

Bukele, who recently jokingly called himself “the coolest dictator in the world,” doesn’t back down on his support for Bitcoin, promising the community the multi-million dollar government buys and video footage of a fueled mining operation by volcanic energy.

admin

Read Previous

More Than 20 Chinese Crypto Companies to Leave The Country Following The Local Ban

Read Next

Dell CEO Michael Dell Snubs Bitcoin

Leave a Reply

Your email address will not be published. Required fields are marked *

Right Menu Icon