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Ethereum creator Vitalik Buterin criticized Salvadoran President Nayib Bukele on Friday for forcing companies across the country to adopt bitcoin. Buterin also called out the “Bitcoin maximalists” for supporting Bukele.
“Making it mandatory for companies to accept a specific cryptocurrency is contrary to the ideals of freedom that are said to be so important to the crypto space,” Buterin wrote in a post on Reddit.
Last month, bitcoin became legal tender in El Salvador. It is optional for individuals in the country to use cryptocurrency, but all businesses must accept bitcoin as long as they have the technology to do so.
“Any economic agent must accept bitcoin as a means of payment when it is offered to him by anyone who acquires a good or a service”, article 7 of Salvadoran Bitcoin Law bed. “Those who, in obvious and notorious fact, do not have access to technologies which allow them to carry out transactions in bitcoin are excluded from the obligation expressed in article 7 of this law. The state will promote the training and mechanisms necessary for the population to access bitcoin transactions. “
This strategy of pushing bitcoin to people with almost no prior attempt to educate them is “reckless” and “risks a large number of innocent people being hacked or ripped off,” according to Buterin.
“Shame on everyone (okay, alright, I’ll call the main officials: shame on Bitcoin’s maximalists) who praise it without criticism [Bukele]”Buterin wrote.
What about ETH?
Would Buterin say the same about Ethereum’s maximalists if El Salvador chooses ether (ETH) as legal tender? Asked a Reddit user.
Buterin responded by saying that he has repeatedly criticized Ethereum users and applications. Elsewhere in the thread, he said that requiring “a specific cryptocurrency” clashes with the idea of crypto freedom.
Another Reddit user wondered if Bukele had bought bitcoin cheaply and wanted it to rise, so he introduced bitcoin law to the country. It’s a “simpler, dumber hypothesis,” according to Buterin.
“Both for political reasons and because he’s a human being like the rest of us, he loves to be praised by people he considers powerful (i.e. Americans). Bitcoin maximalists are a very easy community to get to congratulate you on: being in a position of power and doing or saying nice things about themselves and their room, ”Buterin said.
© 2021 The Block Crypto, Inc. All rights reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.
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