It's one of the biggest ongoing discussions on the planet right now, but Bitcoin isn't without its issue and John Oliver wants to highlight them.
Dumbing It Down
Oliver focused last night's episode of Last Week Tonight on a discussion about the so-called cryptocurrency in spite of acknowledging that the episode probably wouldn't age well as a result.
"Technology, the thing that will make television so high def that I will no longer be allowed to appear on it," he joked about continuing advances in this market.
Explaining what cryptocurrency actually is, Oliver spoke for most of the Earth's population in admitting he didn't really have a clue.
"[It's] everything you don't understand about money ... [combined] with everything you don't understand about computers," Oliver explained.
Bitcoin has gained serious traction over the past few months, thanks to a sudden and very dramatic rise in its value due to increasing attention.
Although it's evened out lately, there are those who believe Bitcoin the way forward when it comes to being the key to financial freedom, away from the constraints of banking regulations, fees, and others
Not The Safest Bet
It's not all positive, though, as certain enthusiasts found themselves not as wealthy online as they thought. After Bitcoin's value plummeted by nearly half from its astronomical valuation at the end of 2017, investors found themselves flummoxed.
Oliver, on his part, believes that Bitcoin is only valuable as long as people believe its valuable. The so-called "blockchains," which provide further protection for online transfer due to decentralized banking records, track all transactions and make them virtually impossible to hack is another buzzword being batted about recently that makes people believe Bitcoin is infallible.
However, Oliver also pointed the kinks in the current landscape that is potentially worrisome in the long run.
"A bitcoin conference stopped taking bitcoin, which is a red flag since that's the one place you'd think it would be accepted," he said.
Oliver joked he should change the name of his show to Last Bit Tonight with Block Chainiver in an effort to gain more attention. The late-night host also pointed to other cryptocurrencies, including Dogecoin based on a popular Internet meme that gains traction purely because other people are buying it.
Hilariously, Oliver then enlisted the help of comedian and one half of Key and Peele, Keegan-Michael Key, for a crypto-culture based rap, to remind people to be careful or, as crypto-bros might say, "careful."
"The point is, if you choose to invest in the cryptocurrency space, just know that you're not investing, you're gambling," Oliver explained emphatically, driving the point home.