[2019-06-06]President of Brazil Jair Bolsonaro: ‘I Do Not Know What Bitcoin Is’

[Vladdirescu87]

The president of Brazil, Jair Bolsonaro, has stated that he does not know what bitcoin (BTC) is, and endorsed the suspension of a project that would create a crypto for indigenous people to use,.

Bolsonaro supported the Minister of Women, Family and Human Rights, Damares Alves in the termination of a project worth 44.9 million Brazilian reals ($11.5 million) between the National Indian Foundation (FUNAI) and the Federal Fluminense University (UFF), which promoted the creation of a cryptocurrency for indigenous people to use. Bolsonaro delivered his comments during an interview with Ratinho's SBT show on June 4.

After saying that the Minister acted properly in blocking the project that "wanted to teach the Indian to use bitcoin," the president was asked by a show participant if he knew what bitcoin was. Bolsonaro replied:

"I do not know what bitcoin is."

https://cointelegraph.com/news/president-of-brazil-jair-bolsonaro-i-do-not-know-what-bitcoin-is

[CryptoBry]

The president must be living in the cave for the past 10 years because he never encountered or have read any news regarding bitcoin. And I think it is not just bitcoin that he is not aware of but also the whole of cryptocurrency world. He must not have heard that Venezuela issued its own state-backed cryptocurrency. Brazil's Jair Bolsonaro must be an ignorant man or he just pretended to be. Now, I am wondering if there is a future for cryptocurrency in Brazil taking into consideration that its own president seems not to be in anyway interested with it. Okay, I am really hoping to be wrong.

[Theb]

We cannot directly blame the president here, we can only blame the ones who are seated right beside in his administration that don't help him understand the whole situation but instead share their own opinion. Him not being knowledgeable on what Bitcoin is will instantly make him clueless on what cryptocurrencies are even if it's for a good cause. The people who are given the wrong power would only act with his/her opinion but won't look at it further, this is one of the bad traits of unworthy persons with power.

[shamc]

The president of Brazil is not a forward thinking person. With a population that size they should be competing with China but they are just a bunch of economic n00bs who will go no-where except the beach.

[akamit]

"I do not know what bitcoin is."

If you don't know anything, then you should not come to a conclusion fast imo.

Jair Bolsonaro is a president, and I think he should have given some time to learn more about bitcoin/cryptocurrency before a decision made.

[bhadz]

He doesn't have to know bitcoin anyway, a president has a lot of things to focus with concerning his citizens and other major problems of the country. AFAIK, in Brazil there's already a massive adoption that's happening even until now and few years ago there's hundreds of stores that has been accepting bitcoin. But I have no update regarding that news that I've heard before.

[rodel caling]

Unfortunately the brazilian president was sleeping did know what is bitcoin so possible he also didn't know the new technology, because people using the computer or any accesss knows bitcoin what is it.
On that problem need to explain well to the president what is all about bitcoin and how the importance of bitcoin to help the economic growth of his country's.

[gentlemand]

The president of Brazil is not a forward thinking person. With a population that size they should be competing with China but they are just a bunch of economic n00bs who will go no-where except the beach.

I think their primary hobby is murdering each other.

There are some exceptional operations there like Embraer but overall I really don't understand why South America is so consistently useless. They have brains and natural resources.

As for the president, he seems like the type of person who'd like to keep women chained up at home so I would not expect any announcements worth listening to about anything remotely futuristic.

[1Referee]

I don't believe this president at all. It has gone through one of the most pumpy bubbles in history and he has no clue about what Bitcoin is?

What I'm thinking is that he tries to play Bitcoin down by pretending to not know what it is.

The president of Brazil is not a forward thinking person. With a population that size they should be competing with China but they are just a bunch of economic n00bs who will go no-where except the beach.

Based on what should they compete with China? China is one of the most active investors in Brazil and pretty much any other country in that region.

[Falgorn]

Well, well, and this can be. Not everyone wants to perceive the new, especially if it is new in the financial sphere, which, as it seems to some, has long been established and will not require improvements. This is an example of ordinary ignorance. Everything will change if the major states will use cryptocurrency en masse.

[BitHodler]

The people who are given the wrong power would only act with his/her opinion but won't look at it further, this is one of the bad traits of unworthy persons with power.

That's why their economy is a bad performer. It's hard to think of a country in South America that isn't lead by an imbecile inflicting more harm than good to an already struggling economy.

If you also add that most of these presidents are so corrupt that they mainly enrich themselves and their elite buddies, it isn't even a surprise anymore that their economies continue to go backwards instead of booking progress.

I don't believe this president at all. It has gone through one of the most pumpy bubbles in history and he has no clue about what Bitcoin is?

Fair point. The local volumes and the on-exchange volumes have seen a massive boost in the last 12 or so months. It's hard to imagine that the government isn't aware of the growing interest in crypto.

[milewilda]

I cant really believe that a president dont know on what is Bitcoin.Its impossible for government not to know about this matter but he do make decisions
directly on having a suspension on such project without even knowing on what it is? Everything is so blurry thats why i dont buy up this kind of claim or simply
a bullsh*t denial.

[joniboini]

Its impossible for government not to know about this matter but he do make decisions directly on having a suspension on such project without even knowing on what it is?

Lots of people are like that. Make hasty decision because they only get a fraction of information or none at all. To be honest, if crypto is a serious matter in his country, his staff would at least told him about it. And seems like they did just that.

Shortly after the speech, Bolsonaro rectified his statement and said that bitcoin was a "virtual currency." The project offered by FUNAI and the UFF will purportedly neither receive financing and support, nor integrate bitcoin.

https://cointelegraph.com/news/president-of-brazil-jair-bolsonaro-i-do-not-know-what-bitcoin-is

[leea-1334]

The president of Brazil is not a forward thinking person. With a population that size they should be competing with China but they are just a bunch of economic n00bs who will go no-where except the beach.

You know nothing about the person, and neither do I,,, you know what? If anyone asks me in a public space, as a government servant, if I knew anything about Bitcoin? I would probably say the same. Can I explain to an economist what Bitcoin is? I think so but I think if put on the spot and asked,,, I may not have the technical knowledge to provide something useful.

I do not think we should buy into the news too much.

[Sithara007]

Bolsonaro is a retard and hardcore neo-nazi who got elected by bribing the agro-business lobby and the pentacostal/evangelical churches. He is hell bent upon destroying what is remaining of the Amazon rain-forest. Some people call him "Trump of the South", but I am sure that his IQ level is much lower than that of the real Trump. So it is only normal that he don't know anything about BTC.

[onrise]

Bolsonaro is a retard and hardcore neo-nazi who got elected by bribing the agro-business lobby and the pentacostal/evangelical churches. He is hell bent upon destroying what is remaining of the Amazon rain-forest. Some people call him "Trump of the South", but I am sure that his IQ level is much lower than that of the real Trump. So it is only normal that he don't know anything about BTC.

I am sure he would be knowing about btc but just do not want to give much air to this topic due to which said that he does not know about btc. Else it would be so much ignorant that some one like him who heads Brazil  is unaware about it and what is the other officials doing if they have not informed it to the president .

[kotajikikox]

Well I think President Jair Bolsonaro is just pretending he dont know about bitcoin.we know that bitcoin has been popular all over the world specially by the government and big banks know what is bitcoin.bitxoin also ia always in tje news nowadays.how xome that mr.jair didnt know bitcoin? He is just pretending thats what I think.
but we can say not all people recognize bitcoin. I think he just want to ignore what is bitcoin.because bitcoin can not be given taxes by the government.bitcoin also can not be handle and manipulate by the government and a big bank.bitcoin will cotinue running by digital currency of blockchain.thats why mr president jair doesnt want to know bitcoin.well again this is just my opinion.