John Oliver is known for his eloquent explanations of complex topics like net neutrality. Now, hes turning his attention to the internets favorite topic of the moment: Bitcoin. Its everything you dont understand about money combined with everything you dont understand about computers, quips Oliver, correctly. The 25-minute video uses $15,000 Beanie Babies, an interview with a man using chicken McNuggets as a metaphor for blockchain, a video of Brock Pierce ( The Mighty Ducks child actor turned crypto-entrepreneur) talking about his unicorn wedding at Burning Man, and a HODLGANG rap music video to explain the phenomenon. (Hodl is a slang term used in the Bitcoin community meaning hold on to the cryptocurrency and not sell.) The important thing to remember here is this is a brand-new, very complicated space and literally nobody knows how its going to develop, so you need to be careful, warns Oliver. I know that sounds boring, caution is a tough sell when youre up against BitConnect and HODLGANG.Its worth a watch if youre still confused by Bitcoin, blockchain, and cryptocurrencies in general... bro.
John Oliver s main skill is that hes usually pretty good at explaining complex and boring topics in short TV segments. And this weeks episode of Last Week Tonight is particularly relevant to the tech industry as Oliver tackled cryptocurrencies. In just 25 minutes, the Last Week Tonight team put together a decent introduction to bitcoin, blockchain, ICOs and cryptocurrencies. If your neighbor keeps asking you questions about that digital currency he heard about, you can probably start with this video. Of course, talking about cryptocurrencies on TV has some limits because you want everyone to follow along. Its everything you dont understand about money combined with everything you dont understand about computers, Oliver said. But he manages to talk about many of the crazy things that happened in cryptoland recently, from Long Island Ice Tea rebranding to Long Blockchain to boost shares, to Dogecoin reaching $2 billion in market cap at some point even though it started as a joke. More interestingly, Oliver didnt say bitcoin and cryptocurrencies were a bad idea and would never work. His stance was nuanced and its good to see a non-polarizing take. Oliver also made fun of the members of the /r/bitcoin subreddit who keep saying HODL when theres a crash. The segment ends with a recommendation: CRAEFUL. I own small amounts of various cryptocurrencies.