Vitalik Buterin Criticizes El Salvador’s BTC Adoption

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Buterin took to a Reddit thread to give his thoughts.

Ethereum founder Vitalik Buterin has taken to Reddit to hit out at El Salvador over the country’s adoption of Bitcoin as a legal tender. In what is arguably one of the largest crypto adoption milestones to date, Buterin is all but impressed with the move.

Taking to Reddit to post his criticisms, Buterin hit out at crypto advocates who’s been praising Nayib Bukele. Bukele is the authoritarian president of El Salvador, who’s been publicly denounced for allegedly moving to undermine the nation’s democratic institutes.

Recall that on September 7, the same day that the crypto market crashed, El Salvador declared Bitcoin a legal tender. The move by the president, saw a lot of mixed reactions, amongst which is Buterin’s recent one.

Bitcoin Adoption Problems According to Buterin

According to the Ethereum founder, his first problem with the adoption is with regards to the forceful nature of it. He expressed concerns about how businesses are being forced to accept Bitcoin as a payment method. This, according to the founder, does not show freedom.

Speaking further, Vitalik Buterin explains how freedom and decentralisation are at the core of cryptocurrency’s origins. From onset, the creator of Bitcoin, Satoshi Nakamoto had thought out cryptocurrency to be a peer-to-peer kind of cash that the government will not be having any controls over. But just as it happened with the centralisation of mining nodes to large pools, Buterin and other crypto experts are questioning if El Salvador’s move is in line with Nakamoto’s vision.

Apart from the view of freedom, and El Salvador’s adoption of Bitcoin deviating from Satoshi’s initiative, Buterin also warned about the potential dangers of lack of proper crypto education.

He insists that by pushing BTC to millions of El Salvador citizens at the same time, and with next to no prior education, a lot of innocent people risk getting hurt or scammed.

 

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