„I have nothing against Bitcoin or other cryptoactives, they are risky, they can be useful especially at times when the government is spending a lot of money, printing money“, says Samy Dana
Samy Dana is a well-known figure in the Brazilian cryptomarket, and is even a meme in the community because of his negative views on bitcoin in 2017. Recently the economist participated in an episode of the Master Podcast, where he said he has a positive position on digital currency.
For the economist, who has been a Globo commentator, bitcoin, as well as other crypto-currencies „have a giant potential,“ even if he does not consider crypto-currencies to be a „currency,“ since they are not (yet) widely accepted as an exchange system, and Samy also said that they „do not have a reserve value system,“ but that this could change.
„Cryptomorphs are not yet accepted, but does that mean it will always be so? No! I think it’s incredible technology.“
Although he has criticisms about cryptomime and the market, especially about how reckless some people are with their investments, Samy Dana believes that many bitcoin supporters don’t understand what he really means when he warns about the risks of investing in digital currency.
„Bitcoin’s people hate me, but I don’t think they understand what I’m talking about,“ Samy Dana said.
Still explaining his opinion about cryptomorphs, Samy took the opportunity to talk about how his image is seen by the community. The economist is seen as a meme and is known as one of the biggest critics of digital currency in Brazil.
„Bitcoin’s people hate me, but I don’t think they understand what I’m talking about. What do I talk about? That this is a risky asset! Many people can get hurt.
It is: Understand the risks! The worst thing is for you to come in with money without knowing the risk that anything has.
And the risk is linked to the swing“.
Editor’s note: Here at Livecoins nobody hates Samy, we can see that he has some opinions in the 2000s, but he seems to be on his way to becoming a bitcoiner.
For Samy Dana, his stance on the Globe was very important for him to be cautious about what he was talking about; after all, he could reach millions of people who could „make the mistake of investing in the Bitcoin“ without the necessary knowledge about the currency.
„These are risky assets (…) At the time of the Globe when I was ‚hitting Bitcoin‘, first I believed it was a bubble, second I was seeing simple people selling everything to buy Bitcoin thinking they would get rich“.
For him, as a commentator, it was important to educate about this dangerous reasoning, as it can be financially devastating for people with less knowledge or less resources.
„A person who earned R$1,000, with difficulty, why does she think that a business she doesn’t even know what is right will leave her a millionaire? (…)
That’s where there’s a pyramid that uses Bitcoin as a decoy, not Bitcoin’s fault“.
„They can be useful at times when the government is spending a lot of money“
In a very quick but very interesting comment, Samy Dana has shown that he agrees with many Bitcoin bulls who believe that cryptomorphs are a way to protect money from inflation.
„I have nothing against Bitcoin or other cryptoactives, they are risky, they can be useful especially at times when the government is spending a lot of money, printing money“.
This is an interesting opinion that has been held by the Bitcoin community since the world was world.
Translated with www.DeepL.com/Translator (free version)