Ethereum Founder: El Salvador's Bitcoin Approach Is 'Contrary to the Ideals' of Crypto

After a post on Reddit was posted 2days ago, Vitalik Buterin Ethereum creator, had somethings to say about, El Salvador adopting Bitcoin and asking local business in the country to aspect one cryptocurrency (Bitcoin), which goes contrary to the idea of crypto, that it doesn't bring freedom in the crypto space, he also said that the young Latina American President Nayib Bukele is just looking for praise from the world at large and shame to all Bitcoin Maximalists who are uncritically praising him, the Ethereum founder who recently became the world’s youngest crypto billionaire at age 27, had so many things to say on this case, which I'm going to be posting in a moment but before I do that.

image.png
Source

the co-founder Blockchain.com Nicolas Cary said during a panel at the TOKEN2049 conference in London just this week, "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."Source

Here are the post made by Vitalik Buterin replying the post on Reddit by Unpopular opinion:

"Unpopular opinion: El Salvador president Mr Nayab (sic) Bukele should not be praised by crypto community,"Buterin replied: "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."Source

Buterin's post continued: "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."Source

Buterin didn't stop at his first post. Further down in the same thread, when the original poster commented: "It's like [Bukele] pushed it because he bought at cheaper price and knew a country adopting a crypto would alone take the price high enough to make him rich," Buterin replied, "Simpler and dumber hypothesis: both for political reasons and because he's a human being like the rest of us, he just loves being praised by people he considers powerful (ie. Americans). 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."Source

H2
H3
H4
3 columns
2 columns
1 column
Join the conversation now
Logo
Center