A Summary of the John Oliver Episode on Cryptocurrency and a Link to the Video
John Oliver did an episode on Cryptocurrency. We explain John Oliver explaining Bitcoin, FOMO, blockchain, and more… and we show you how to watch the episode.
TIP: Watch the John Oliver crypto video online by clicking the play button below. It’s on Last Week Tonight’s YouTube channel. You can click on the link or, depending on HBO’s future policies, go to HBO and pay for a subscription. Please note they don’t yet take crypto as payment for that.Cryptocurrencies: Last Week Tonight with John Oliver (HBO).
Let me summarize the show:
- On cryptocurrency: jokes about the price and people who do or don’t get rich from Bitcoin. How Bitcoin is different from other cryptos and tokens form ICOs.
- On blockchain: pointing out how it is useful. Pretty much universal agreement on that. Also, Chicken McNugget metaphors and making fun of the price movement of “blockchain” stocks (like the Long Island Ice Tea company who changed their name to “Long Blockchain” only to see their stock soar and then crash back down; just like crypto!)
- On HODL and FOMO: Don’t FOMO buy, but do HODL. Don’t get Rekt, find the moon and get your lambo.
- On manipulation: Pump and dump warnings, Bitconnect jabs (complete with the infamous “wasssawasup Bitconnect” clip); good information for the public.
- On EOS: Nice plug, plus a dash of FUD.
The reality is the show was rather funny, informative, and fair. It’s a bit like Ellen; this is good for mass adoption. Unlike Ellen, this episode teaches a good deal about the way cryptocurrency works and the community surrounding it.
John Oliver did a good job of pointing out that people should stay away from scams and be cautious with the quality coins and tech which is good advice.
The bottom line: To paraphrase the end of the episode, Bitcoin is either going to zero or a million. It is not investing; it’s gambling (I’d argue it is more like investing when you, for example, build an average long position in the top coins, but speculation when you go all in with the hopes of striking it rich). Be careful. It could be like getting into Google on the ground floor, or it could be like getting into Google Glass at the ground floor. Don’t invest more than you are willing to lose, and don’t HODL into the ground. Find out some tips for investing carefully here.