Television host Bill Maher mocked crypto, following the line of other recent critics like Warren Buffet (Berkshire Hathaway CEO), Bill Gates, and Nassim Taleb. Most of these critics have been hard on cryptos for years, even as prices and adoption have risen.
On Real Time with Bill Maher show last Friday, the comedian said that Dogecoin is a joke as well as all the other cryptocurrencies, although how ‘joke’ is defined was left to the imagination of the audience.
Maher alleges that he does not understand crypto and that no one really does – which puts his ability to criticize it into serious question. Many people have doubted cryptos, but both Bitcoin, and Ether have logged numerous all time highs this year, with ETH topping $3,000 USD over the past few days.
ETH is White Hot
While the rise in ETH prices is due to a number of factors, the European Investment Bank (EIB) recently teamed up with Societe Generale, Goldman Sachs, Banco Santander, and other major players in the established financial sector to sell more than €100 million in bonds on the ETH Network.
This is just one more way that ETH is coming into mainstream use, although many people who don’t pay attention to what is happening in the marketplace are left using outdated ideas, and flawed biases to interpret rapid technological innovation.
The Old School is Being Left Behind
Maher explained to his audience that money has to be originated and generated from something real, somewhere, to which cryptocurrency doesn’t. Of course, this is in no way true, as modern fiat currency, which is issued by “fiat” has nothing backing it whatsoever.
The TV host then addressed bitcoin users and supporters accusing them of opportunists with no care for the environment. To support his accusations Maher referred to an article that states that crypto growth can push global temperatures higher.
How a TV host is able to come to these conclusions about the weather of the entire planet vis a vis projections from a single report wasn’t explained. Given the price action of the crypto complex over the weekend, it would appear that Bill Maher has no effect on the market.