I’ve got to admit I’ve missed this guy. John Oliver going into a 25-minute rant on cryptocurrency is a welcome back to the crazy and on point style that Oliver is so good at. Cryptocurrency and blockchain technology are quickly becoming trends that many people think are going to be huge things that could revolutionize the world in some way. But in truth it’s more of a gamble. It’s a high-risk gambit that many people feel is worth it because of the numbers that several of the companies now operating have put up. Quite honestly though with as quickly as cryptocurrency can drop it’s a wonder that no one has bothered to denounce it just yet since you could be up a million in one hour and having your car, house, and shirt repossessed in the next.
That’s the danger of high stakes gambling though, which cryptocurrency is without a doubt. You end up taking a huge risk for not much gain at times. Even if you manage to double and even triple your investment it’s usually best to take what you’ve earned an move on since in truth the coin you’re betting on doubling isn’t worth much unless people are willing to make it that way. That’s right, people are the ones that give currency its worth no matter what form it takes. The trouble with cryptocurrency is that it’s essentially just data and has no real worth until someone can find a way to secure it and perhaps turn it into hard currency that most people still value.
As for blockchain it seems like the perfect setup where there is no longer just one regulatory system that could possibly be hacked, but many systems that present an arduous task for any hacker to try and bring down the system. The only problem there is accountability. If the owner of one system is doing their job all is well and good, but if other system operators aren’t on the ball or aren’t entirely trustworthy then the system breaks down and becomes rather useless. The main caution in the tale of cryptocurrency and blockchain at his point is that people need to be careful of how they use the services that are being offered and how they go about investing. It’d be far too easy to lose everything by putting everything you have into something that could rise one minute only to fall the next. At that point you become the donkey simply because you didn’t look ahead to see what was coming.
Watching John Oliver tear things apart or at least give rousing commentary on them is a true privilege since the man doesn’t hold back and doesn’t sugarcoat his words for anyone. He’s the kind of person that you can enjoy listening to because he doesn’t buy into the hype or the bull that people try to sell. Of course he’s trying to run his own agenda while seeming entertaining and engaging to the audience, but he’s still amusing enough to watch.
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