Bill Maher, an American comedian, television host, political commentator, author, actor and television producer, has recently featured on a panel discussion at the July 26, 2018 edition of the HBO program titled “Real Time with Bill Maher”, mocking Bitcoin, stating it was “in a bubble” and that “investing in it is gambling”. He stated that “Bitcoin is useful only for people who don’t want to be found.” The panelists then were shown a video of a past interview of Mr. Maher with Peter Schiff, a better known Bitcoin skeptic, in which Mr. Maher stated “are you serious? No one is using bitcoin.”
American comedian and TV presenter Bill Maher mocked bitcoin and other cryptocurrencies, including dogecoin, in his show on Friday. He named several critics of Bitcoin: Warren Buffett, CEO of Berkshire Hathaway, Bill Gates, founder of Microsoft, and Nassim Taleb, author of Black Swan.
Bill Maher admits he doesn’t understand bitcoin
TV presenter and political commentator Bill Maher mocked bitcoin and other cryptocurrencies on Friday in his Real Time Show with Bill Maher. He mentioned Bitcoin, Dogecoin and a few other crypto-currencies and said he thinks Dogecoin is the same as all other crypto-currencies because it’s all a joke. He called Dogecoin an Easter Bunny currency and compared cryptocurrencies to Tinkerbell. His source of power is only based on enough kids believing in him, he says.
Maher claimed that he had read about cryptocurrencies and that everything had been explained to him, saying:
I still don’t get it, and neither do you or anyone else.
Maher went on to talk about Satoshi Nakamoto, explaining that the pseudo-creator of the name bitcoin is a Japanese word for monopoly coin.
He went on to say that money had to come from something real and be generated by something real, to which cryptocurrencies respond that this is not the case, citing Warren Buffett, CEO of Berkshire Hathaway. Maybe that’s why Warren Buffett says: Cryptocurrencies are basically worthless and don’t yield anything. You hope someone else comes along later and pays you more, but then that person has a problem. In terms of value: Zero.
The channel quoted Black Swan author Nassim Taleb who said bitcoin is an open Ponzi scheme. Maher added: It’s like an imaginary best friend who is also a banker realizing that the world economy collapsed in 2009.
Maher then addressed the energy required to mine bitcoin and quoted Microsoft founder Bill Gates, who said:
Bitcoin consumes more energy per transaction than any other process known to man.
He also attacked Tesla and said: How can a company like Tesla save the planet with electric cars and then participate in its destruction with this totally useless online gambling?
Then the comedian turned his attack on bitcoin supporters. He said:
You are a moneyed opportunist and should not pretend to care about the environment.
Maher went on to quote a newspaper which stated that the rise of bitcoin alone could push the earth’s temperature above a 2 degree Celsius tipping point.
Many members of the crypto community reacted to Maher on social media. One of them noted that Maher’s opinion on bitcoin and cryptocurrencies was meaningless and uninformative. The other joined him: Almost everything in this video is inaccurate or just plain wrong. Bullshit for the sheeple of the mass market who will take it as fact. Bitcoin is not a waste of energy. Bitcoin is the freedom of parasites. And you can’t stop it.
Bitcoin’s Twitter user Brekky gave his opinion: Such a disappointing performance by Bill Maher. It feels like this rant was written in an hour and it was written in half that time. It makes me sad when people realize the world is broken, but don’t see how to fix it when it’s right in front of them. One of Maher’s fans tweeted:
I’m a big fan of Bill, but this is a terrible study. Don’t you think? Buffett is 100 years old, he doesn’t understand technology. The US dollar is also backed by nothing, and they can’t just print 1 trillion bitcoins out of thin air and devalue them like the US dollar.
Researcher Nick Carter posted a video refuting Maher’s claim that bitcoin will warm the climate by 2ºc (it won’t). Several people have disputed Maher’s claims about bitcoin’s energy consumption. Most of the energy used is either renewable energy (hydroelectric, geothermal, etc.) or waste energy converted into something useful (combustion of natural gas). They also assume that bitcoin has no value, which is certainly not true, one user described.
Morgan Creek Digital partner Anthony Pompliano offered to explain to Maher what bitcoin is: I think you are overlooking important information that could change your mind, he wrote. Robert Breedlove told Maher that conviction without investigation is the height of ignorance, and urged him to do his job as a journalist and investigate. Bitcoin solves most of the socio-political problems you complain about.
What do you think of Bill Maher’s comments on bitcoin? Let us know your comments in the section below.
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