Bitcoin has made it to the pinnacle of parody. When John Oliver devotes a 25-minute main story to explaining Bitcoin, blockchain, and the perils of the cryptocurrency landscape, you know we've finally reached peak crypto.
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The late night host spent this week's episode of his HBO show running through the cryptocurrency landscape's greatest hits. He talked about why Bitcoin has a lot in common with Beanie Babies, lampooned many of the coins on our silly cryptocurrencies list, and gave normies his typical joke-laden explanations of nerdy terminology like HODL and FUD.
Oliver gives a succinct but relatively accurate breakdown of what Bitcoin and blockchain are, and how the decentralized network and immutable ledger technology works. He also keyed in on the bombastic marketing plaguing many an initial coin offering (ICO), and the often disingenous or problematic marketing around new buzzword-laden "blockchain" companies. Ultimately, Oliver and special guest Keegan Michael-Key drove home a common but exceedingly true mantra: never invest more in cryptocurrencies than you're willing to lose. Watch the full video below.