John Oliver on Cryptocurrencies: "You're not investing, you're gambling"

  • Posted 2 months Ago

John Oliver, a British comedian and expert at explaining complex topics in funny and easily-understandable ways, has turned his attention to the latest hot topic - cryptocurrencies.

In a 25-minute piece, Oliver uses $15,000 Beanie Babies, chicken nuggets and a "HODLGANG" rap music video to explain the technology and the turbulent market. It's "everything you don’t understand about money combined with everything you don’t understand about computers," he explains.

"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 […] If you choose to invest in the cryptocurrency space, just know that you’re not investing, you’re gambling. Which is fine, but you should know that is what you’re doing and prices do go down."

You can watch the full piece above.