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25 June 2021

Bitcoin and El Salvador: An Inconvenient Truth - Decrypt

Bitcoin and El Salvador: An Inconvenient Truth - Decrypt


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Now that a government like Bukele’s embraces Bitcoin, why have Bitcoiners forgotten their convictions.

Behind some of the numbers are a highlight reel of Bukele’s political decisions, all of which are antithetical to every Bitcoiner that promises, as Mallers touted, “human freedom, financial inclusivity, and so much more.” .

As the pandemic dragged on, Bukele repeatedly disobeyed Supreme Court rulings that called on him to respect human rights as he enforced quarantine rules. 

Security forces have also reportedly detained people arbitrarily in containment centers, and according toHuman Rights Watch, hundreds of detainees have been held in “overcrowded, unhygienic conditions that threaten their health.” 

But while Bitcoin promises a certain political ideal for those that believe in it, there has been little opposition to an undemocratic head of state embracing the cryptocurrency. 

“There has been some commentary from some media that Bitcoiners should not support a ‘pseudo-authoritarian’ government adopting Bitcoin as a national currency, Jason Deane, Bitcoin analyst at Quantum Economics, toldDecryptover Telegram, “but this demonstrates a lack of understanding of what it represents

“I can’t speak for anyone else but as a self-identified Bitcoiner, I have made it a point to criticize Bukele’s human rights record

“An action which is a massive win for human rights as it will empower Salvadorans, connect them to the world, and give them access to a money that cannot be debased, censored, or remotely confiscated.”

But Bitcoiners have made it very clear that they are not—scores of them first came to crypto due to their passionate political beliefs

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