Cryptocurrency is apparently famous or infamous enough to deserve a mention on late night TV. British comic John Oliver talked about cryptocurrency on his HBO show Last Week Tonight. He went into detail about the virtual currency’s potentials, and pitfalls, while also giving a “boring” warning on how everyone should be “careful” when using it. The late night host gave a layman’s description of bitcoin: “Everything you don’t understand about money combined with everything you don’t understand about computers.”
The current rise of bitcoin has now made it a target for comics, such as John Oliver, to mine material from, and Oliver did not even go into cryptocurrency mining. The comedian began with how bitcoins were viewed years ago – as a topic “one guy in your office..wouldn’t shut up about..” He also pointed out a red flag audiences should take notice of: a bitcoin conference stopped taking bitcoin as payment – an odd situation Oliver compared to paying access to “the Republican National Convention using Ronald Reagan’s dusty skeleton bones.”
He also gave the audience a quick lecture on how tokens are needed to be able to transact, as well as how a company earned $35 million mere seconds after acquiring some – which Oliver found similarities to “walking up to Bill O’Reilly, sitting in silence for 26 seconds and saying ‘I recorded our phone calls’.” Bill O’Reilly was a former Fox News host who was fired from from the Fox network due to allegations of sexual harassment.
Oliver balanced the information he presented by showing an interview of EOS’ Brock Pierce lauding cryptocurrency’s value. Pierce serves as a partner in a cryptocurrency company. In the interview snippet, Pierce praised digital currency and declared, “Everything will be better, faster and cheaper.. Everything will be more connected. Everything will be more trustworthy. Everything will be more secure. Everything that exists is no longer going to exist in the way that it does today. Everything in this world is about to get better.”
Oliver’s final friendly, albeit “boring” reminder about cryptocurrency is helpful to those interested in engaging with it. The comic declared that currently placing money on cryptocurrency is “gambling” not “investing”. He suggested that people need to know what they are doing either way. He also acknowledged that the world of virtual currency is currently still developing and no one yet knows where its future will lead to.