John Oliver Talks Pump and Dumps, Ponzi Schemes, and the Future of Crypto on ‘Last Week Tonight’
This week John Oliver dove into the complex world of cryptocurrencies on Last Week Tonight. “It’s everything you don’t understand about money combined with everything you don’t understand about computers,” Oliver joked immediately.
The segment manages to explain the basics of HODL, FOMO, FUD, Moons, Pump and Dumps, and the basic ideas behind blockchain and tokens in under 25 minutes. Some of the more notable moments dragged Ponzi-inspired BitConnect and the controversies surrounding EOS co-founder Brock Pierce.
Though he cautioned gung-ho parties that getting into the cryptocurrency space is more like gambling than investing, Oliver managed to take a nuanced, impartial stance on cryptocurrency in general. While warning about the get-rich-quick schemes, he compared an investment now to getting in on the ground floor with Google… Or if we’re unlucky, Google Glass.
The segment ended with a recommendation from comedian Keegan-Michael Key (impersonating overzealous BitConnect spokesperson Carlos Santos) to invest safely. #CRAEFUL