Vitalik Buterin Doesn't Approve El Salvador's BTC Policy

by in Cryptocurrency News

Vitalik Buterin El Salvador bitcoin

El Salvador’s president Nayib Bukele's step of Bitcoin legalization and making local businesses support the coin didn’t get approval of Vitalik Buterin.

Related: El Salvador’s President Revealed BTC Gains and Future Plans

Although Bukele tweeted in September that BTC would not be forced on everyone, Article 7 of the Bitcoin Law states that every business operator should accept the coin as payment when offered no matter whether it provides a good or service.

Recently, a user commented on El Salvador's Bitcoin move on Reddit, entitling the writing as "Unpopular opinion". It said crypto supporters shouldn't praise Bukele. To this, Buterin replied that this approach isn't unpopular. He added it's against the crypto ideals to make a specific virtual currency compulsory. Ethereum co-founder says encouraging El Salvadorians to use BTC without trying to provide proper knowledge is reckless as it contains risks of hacks and scams. Buterin also said shame on everybody, especially Bitcoin maximalists who undoubtedly praise Bukele.

Reddit users also assumed that Bukele acquired BTC at a lower price to score gains as BTC adoption on a country level will make its value go up.

Buterin said this theory is a planer hypothesis. He finds Bukele, as a human being, likes being praised by people that in his opinion are powerful (that is Americans). In his opinion, it’s not difficult to get praised by BTC maximalists. All a person that is in a position of power needs is doing or saying pleasant things about the coin. When asked by a user if Buterin would have the same views about Ether supporters if El Salvador made Ether a legal lender instead of BTC, Buterin said he would. He presented 3 examples of this.