As a fan of the show Last Week Tonight with John Oliver I try to watch it online every week. And I was kind of excited to learn that this week the topic was crypto.
Covering Crypto
The show chose to feature some of the bigger financial disasters that have happened in crypto. Starting with the Terra crash, moving on to Celsius, and ending on FTX. And that is pretty much keeping it on par with a topic that can be expected to be covered on the show. The show did not really reveal anything new, well unless you skipped reading about any of the three crashes that is. And while the humor in the episode was what you would expect. The episode did not really sit right with me.
The reason for the episode not sitting right with me is actually not a single thing but several. And I will try to go over them here. But I would recommend watching it and seeing if you come away with the same feeling as me.
That awkward feeling
One of the things that did not sit right with me was how they sort of breezed over each of the events. But that might be because the events in themself were not the focus of the episode. But it still felt strange. The focus of the episode was more of Crypto are "dangerous", and should not become mainstream because of that. And by dangerous I mean there is a high risk of losing money or getting scammed. And they argue that scammers in general are attracted to crypto by its inherent properties of it. Mainly the speculative part of the value of a cryptocurrency.
And that part, scammers being attracted to crypto, I totally agree with. But at the same time, he was also saying that the entire value of crypto was speculative. And that's what not sitting right with me. And while the absolute majority of cryptocurrency is not doing anything to disprove that. These are the so-called "shit coins". And with the majority of cryptocurrency being made up of them I can sort of see the generalization, but I don't really agree with it. As for me, the small part of crypto that is not made up of shitcoins is the actual part I find useful.
If you have looked at the video or watched it as it aired. What was your thought about the episode? Do you share my sentiment or did you think they did a good job informing the public about crypto? Please sound off in the comment section down below. If you would like to support me and the content I make, please consider following me, reading my other posts, or why not do both instead.
See you on the interwebs!
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