The creator of Ethereum criticizes El Salvador's promotion of Bitcoin, pointing out that it 'contrary to the spirit of freedom of crypto assets'
In September 2021, El Salvador enacted a law that makes Bitcoin a legal tender . In response, Ethereum creator Vitalik Buterin published his criticism on the Internet.
Vitalik Buterin: El Salvador's Bitcoin Approach Is'Contrary to the Ideals' of Crypto --Decrypt
El Salvador, whose remittances by migrant workers to the United States and other countries account for 20% of GDP, has long used the US dollar as its legal tender instead of its own currency, Salvadoran Colon. Then, under the leadership of President Najib Buquere, the law to add Bitcoin, a crypto asset, to the legal tender was enforced in September 2021, making El Salvador the first country in the world to use crypto assets as fiat currency.
With the start of Bitcoin operation, the El Salvador government will install 200 ATMs that can handle Bitcoin in the country and release the official Bitcoin wallet 'Chivo ' to popularize Bitcoin. I am working hard. However, within a month of its introduction, it faced a sharp drop in Bitcoin prices, and protests occurred due to the inconvenience of not knowing whether commercial facilities support Bitcoin payments. Bitcoin policy is in trouble.
What's happening in El Salvador, the world's first legal tender for Bitcoin? --GIGAZINE
'This is an unpopular opinion, but President Bukele shouldn't be praised by the crypto community,' said Reddit user Acceptable_Novel8200 , an online bulletin board user, about the state-led move to promote Bitcoin. I posted it. For this writing, Buterin Mr. ( Vbuterin ) is not a 'totally unpopular opinion. Because acceptance of a particular encryption asset is mandatory is not contrary to the spirit of freedom that should be important to the encryption asset community I will reply.
Buterin went on to say, 'The strategy of pushing Bitcoin against the people of El Salvador is reckless and puts many innocent people at risk of hacking and fraud. People, so to speak, 'bitcoin extremists' should be ashamed. '
According to crypto asset news site Decrypt, President Bukele attended the Bitcoin conference 2021 in Miami in June 2021 in the form of a video conference, making El Salvador a fiat currency in a big way. It was announced. In response, participants who supported Bitcoin showed a great welcome, while an anonymous businessman in El Salvador told Decrypt, 'If you read the text of the bill to make Bitcoin legal tender, It turns out that the content is exactly the opposite of what President Bukele promises. Nevertheless, seeing Bitcoin extremists around the world in favor of President Bukele can be daunting. I heard that he said.
Buterin added, 'To put it in a simpler and ridiculous hypothesis, President Bukele probably likes to be praised by someone who thinks he has power, such as an American. Bitcoin radical. In the scholarly community, you're in power and you can easily praise Bitcoin if you like it. '
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