The co-creator and developer of Ethereum, Vitalik Buterin, call El Salvador’s new experiment with Bitcoin a reckless attempt to score big with decentralization. According to Vitalik, they didn’t have any plan to proceed with such an immaculate task. While the rest of the world and especially the South American countries have been praising this attempt of El Salvador to make Bitcoin a legal tender, Vitalik, on the other hand, slams El Salvador moving with such an important and significant job with such recklessness.
He believes that El Salvador is running the wrong campaign here; the idea of decentralization or the ethos of the crypto space is that cryptocurrencies should not be imposed or shoved down the throat of businesses and people just so they could click with the concept and move forward with it. He thinks this is what El Salvador has been doing by making Bitcoin a legal tender, which is to make people go with Bitcoin and cryptocurrency in a forceful manner and not out of their own free will.
Know-how of Crypto Products is Necessary
He also pointed towards the current perceptibility of people with the technology; according to Vitalik, the lack of education and exposure to cryptocurrencies might lead the El Salvador people to be at the risk of being hacked or scammed in the coming future. He also commented on Bitcoin maximalists saying that this is a very easy community for you to praise and, in return, get appraised. It seems that Vitalik is severely against the idea of countries accepting cryptocurrency as a legal tender with no know-how on the subject and forcefully shoving the idea of decentralization down their local’s throat.
The general tone of Vitalik seems negative towards Bitcoin, which is completely understandable given the fact that he supports and is an important part of the development team for Ethereum. Vitalik has also talked about Jack Dorsey, the CEO of Twitter, for using Bitcoin to create a decentralized financial system for Twitter using much weaker trust nodes; it seems that Vitalik is slamming those who are new to the idea of decentralization and are not doing a very great job with developing new systems using blockchain technology.