Although comics do not usually spend time explaining complex concepts, they are usually into politics. Also, politicians are one the easiest of the targets, because the audience can relate to political jokes and it is often easy to create content around them. However, John Oliver took a different take at his recent program about crypto gambling or investing.
The HBO Show on Crypto Gambling or Investing
HBO aired John Oliver’s program on crypto gambling or investing was a fairly decent attempt to explain complex cryptocurrency technology concepts. The program started with John Oliver stating that Bitcoin is everything that we do not understand about money or computers. He then gave an example of how many of us would not understand the concept of Bitcoin. However, he also talked about a typical guy in every office he named “Dan”, who would go to great lengths to discuss Bitcoin and other cryptocurrencies.
Current Challenges With Bitcoin Adoption
Notably, while speaking to an audience, one of the most difficult things for any TV presenter is to address the elephant in the room. However, Jon Oliver did not shy away from stating the facts. Earlier in his show, he talked about Bitcoin not getting accepted at a Bitcoin conference, which is actually weird.
The show also touched on the subject of fake ICOs that never materialized into an actual token or security. The reference was made to ICOs collecting millions of dollars and then disappearing. John Oliver also indicated how a company could gather $35 million in just 30 seconds. Furthermore, his discussion covered people buying coins without thinking through the purchase or having any real purpose.
Besides talking about some fraudulent activities taking place in the crypto world, he was quick to dispel any notion that he was suggesting it was a scam.
“I am not saying that every cryptocoin is a scam, just as I’m not saying that every blockchain company is bullshit. What I am saying is, in a speculative mania, it can be very hard to tell which companies are for real.”
This is where he discussed, in depth, crypto gambling or investing. Moreover, he clarified that if someone chooses to invest in cryptocurrency, they must know they are gambling and not investing. Also, he cautioned investors to remain vigilant and understand that prices could potentially go down.
Mindless Talk about Cryptocurrency Speakers in the Past
One of the most amusing parts of the whole video was the different speakers talking about their own coins and not knowing what they were actually about. For example, the recreation of the video from the once famous cryptocurrency platform, BitConnect.
So Is Cryptocurrency Gambling or Investing?
Well, it depends on so many things. There are those who, because of one reason or the other, think it as bad. However, when we think of blockchain technology as a whole, it offers a lot of hope to many industries. Therefore, we must try to look at at crypto-technology with a neutral perspective by looking at the use cases in which this technology can really help. Similarly, it holds a huge potential to revolutionize the old financial system that can match with the speed of other things in our lives.