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Vitalik Buterin Ethereum Creator, Has Problems with El Salvador’s New Bitcoin Policy

Ethereum creator, Vitalik Buterin notes that the crypto community should study the advantages of El Salvador’s new Bitcoin policy. Additionally, El Salvador is the first country in the world to adopt Bitcoin as legal tender. Notwithstanding, it experiences many protests and surveys indicating that many of the population isn’t part of what’s happening.

So, Vitalik holds talks on Reddit on Friday, agreeing with a user saying Bukele shouldn’t get commendations for his actions.

Ethereum creator, Vitalik explains,
“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…”

“Additionally, 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.”
Vitalik Buterin continues,

“Bitcoin enthusiasts should keep their passion for the top cryptocurrency in check…”
“and focus on maintaining a critical look at what’s happening in the space.”

Vitalik says,

“Shame on everyone (ok, fine, I’ll call out the main people responsible:…”
“shame on Bitcoin maximalists) who are uncritically praising [Bukele].”

The Bitcoin Launch in El Salvador Not Meeting Perfection, As Vitalik Pointed Out

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Lastly, with data from Reuters while engaging people in the country notes that they encounter some challenges. As a user laments over the app taking his money without giving him the BTC equivalent.

Picture credit – Forbes

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.