We mentioned that El Salvador’s adoption of Bitcoin and its adoption as a legal currency is a very positive development, as well as some criticisms.
Because the practices of El Salvador President Nayip Bukele were despotic and far from Bitcoin’s exit philosophy.
Ethereum founder Vitalik Buterin, who recently evaluated El Salvador’s approach to Bitcoin in a post on Reddit, also criticized Bukele’s oppressive and coercive stance, calling it “reckless”.
As you know, after El Salvador adopted Bitcoin as its legal currency, it became mandatory for businesses to accept Bitcoin. Criticizing this, Buterin stressed that forcing businesses to accept any cryptocurrency is against the ethics of the industry.
Buterin, who was also critical of Bitcoin maximalists, mocked them as an easily manipulated community.
“Bitcoin maximalists are a very friendly community. They can easily praise you. You just have to be in a strong position and say nice things about their money.”
The fact that El Salvador’s Bitcoin practices are not criticized by Bitcoin maximalists, who set out with the principle of financial freedom, shows that Buterin is right.
The impositions on the use of Bitcoin, which emerged as a reaction to the barriers put in front of the financial freedoms of individuals by states and which offers real freedom with its decentralization, are unacceptable.
Chivo wallets, which are required to be used by citizens in the country and activated with the approval mechanism through the face recognition system, not only eliminate the decentralization, but also ignore the privacy principle offered by Bitcoin.
The imposition of the use of an emerging currency for financial freedom is also in stark contrast.
Time will tell if there will be a response from the Maximalists to Buterin.