Comedian Bill Maher openly admitted on his show on Friday night that he "doesn't understand" cryptocurrency, but that didn't stop him from giving his opinion on the subject for over 8 minutes.
Bill Maher admits he doesn’t understand crypto in cringeworthy segment pic.twitter.com/3YA3zWBEvm
— Barrett Wilson (@BarrettWilson6) May 1, 2021
Maher opened up the issue saying "There is a mania going on in the country these days about cryptocurrency," and went on to make fun of the names of certain cryptocurrencies, including Dogecoin, which "someone started as a joke, but as far as I can tell, it's exactly the same as other cryptocurrencies, because the whole thing is a joke."
Maher continues, "I've read articles about cryptocurrency, I've had it explained to me, and I still don't get it. And neither do you, or anyone else."
The irony of the whole thing appears to be lost on Maher during his entire 8-minute 12-second tirade. The US currency also hasn't been backed by anything since 1971. In fact, no country in 2021 holds anywhere near the amount of gold necessary to back up all the money they have printed.
This means, simply put, that every point Maher is making against cryptocurrency can be completely applied to any other fiat currency the world over.
People on the cryptocurrency subreddit almost unanimously took Maher to the cleaners for his lack of depth and perception on the subject:
"He clearly doesn't understand what money is. Also, his brain suddenly stopped working after learning about bitcoin. "No product", please.. have you heard about Godzi... i mean Ethereum? This clip will age like a fine wine, and we all know it!"
"He is pandering to his boomer viewers."
"Most of his show is the same way: riffing on topics that he and his team have only done a tiny tiny scratching the surface amount of research. It’s painful when you have knowledge of the intimacies of an actual topic, and then have to watch the “thought leaders” of society spout nonsense that isn’t even close to the truth."
"I love his show. But his little piece tonight was total bullshit. I disagree with him on many things but this one really struck a cord. He's basically telling his viewers that investing in the future is some Ponzi scheme. If you'd notice the audience at first supports defi and clap for doge before all falling in line just like the sheep people are. Don't believe his nonsense! Hold!"
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