Comedian Bill Maher excoriates environmental impact of crypto

The reference of Dogecoin still got a couple of cheers from the socially distanced audience.
Bill Maher didn’t hold back criticizing cryptocurrencies out of Bitcoin into Dogecoin, implying the whole space was fake and still needed an unbelievable amount of genuine energy.Speaking in the New Rules segment on his show Real Time with Bill Maher on Friday, the comic said the objective of mining crypto was to”make something that is purposefully arbitrary.” Comparing the crypto distance to a digital match and talking about mining at a seemingly derisive tone, Maher suggested investing in tokens turned into a childish endeavor which some notable financial figures like Warren Buffett were avoiding. “There’s something inherently not credible about producing hundreds of billions in virtual riches with never actually being accomplished without a actual product produced or service rendered,” said Maher. “Unfortunately what is real is the unfathomable amount of electricity those huge supercomputers suck up for their mining” “The comic admitted he doesn’t”get it” when it comes to crypto — for example, he wrongly called the creator of Bitcoin (BTC) as”Satatoshi Nakamoto.” Prominent characters in the area were quick to jump on Maher’s remarks, apparently referring to this 65-year-old as someone who had been out of touch with the realities of their fiscal world.Hahahaha I love Bill Maher.

Very sad to watch. Feel really hopeless for him. Joke’s definitely going to be about him. Time will reveal. — CZ Binance (@cz_binance) May 1, 2021

“I enjoy Bill Maher a great deal and he’s spot on several occasions, but his perspective of crypto is just one sided,” explained Alex Iskold of 2048 Ventures. “There’s speculation for certain but the future of money is electronic, and blockchain will have a number of many applications, that’s for sure also.” Though Maher’s remarks on the character of cryptocurrency since”just a Beanie Baby that runs on coal” elicited sharp criticism from a few , others weren’t so quick to dismiss his environmental debates. Bitcoin’s energy consumption has been considerably increasing as the network does, resulting in many being concerned with the crypto asset’s carbon footprint in recent years to come. Digiconomist founder Alex de Vries recently said the environmental effect of BTC could”quickly get completely out of control if adoption raises far more.” However, both Twitter CEO Jack Dorsey and Tesla CEO Elon Musk have promised that the continued adoption of Bitcoin would incentivize the use of renewable energy like solar and wind.

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