In his most recent segment, Bill Maher, the popular talk show host, railed against cryptocurrency, calling bitcoin an arena that is undermining the Ponzi scheme.
Bill Maher used the “New Rules” segment of Friday’s “Real Time” to protest about anything that is potentially very negative and should be addressed: cryptocurrencies like Bitcoin. Maher’s rant was about how bitcoin is terrible for the economy and how it is awful for the climate. Bill Maher began the segment by saying, “New rule: Nothing with the word “crypto” in the title ever comes out well.”
“It’s only Easter Bunny cartoon money,” says the narrator.
“There’s actually one named Dogecoin that somebody began as a prank, but as far as I can tell, it’s just the same as all the other cryptocurrencies because the entire thing is a joke,” the Real-Time talk show host said as he runs through a list of well-known cryptos including Bitcoin. Bitcoin, he said, has no inherent value and consumes much too much energy. The host of a boomer talk show said he had crypto explained to him, but he didn’t get it. “It’s only Easter Bunny cartoon money,” says the narrator. I’ve read a few blogs on cryptocurrencies. During his anti-crypto episode, he said, “I’ve had it clarified to me, and I don’t get it, and neither did you or anyone else.”
Crypto enthusiasts have chastised Bill Maher.
Although Bill Maher is correct that bitcoin mining consumes many resources, the majority of Bitcoin mining takes place in remote areas of China where electricity is cheap and safe. Although not all cryptocurrencies mine with “supercomputers.” The total market capitalization of all cryptocurrencies is currently over $2.23 trillion. Countries like Singapore and South Korea have also passed pro-crypto legislation to further control the industry rather than directly prohibiting it. It is undeniable that cryptocurrencies are here to remain, and it is preferable to establish rules for them rather than demonize the whole sector. Bill Maher isn’t the only “boomer” who has criticized cryptocurrencies; Warren Buffet, for example, has called bitcoin “worthless.”