John Oliver Compares Bitcoin With Bitconnect, Ridicules Tapscott’s ‘Dumb’ McNugget Metaphor
Bitcoin got its 15 minutes of fame on US TV show Last Week Tonight, but it was likened to BitCoinnect while host John Oliver ridiculed Don Tapscott.
In the latest episode of the US-based host’s Last Week Tonight television show, Bitcoin, Blockchain and investing in cryptocurrency all came under the spotlight.
The feature comes just weeks after fellow US host Ellen DeGeneres attempted to explain Bitcoin to mainstream audiences, comparing it to a baby goat.
Inviting the fake Matos to the stage, Oliver failed to question his investment advice. This included not “just blindly hodling” coins bought. The real Carlos Matos himself has been the face of de facto defunct BitConnect before appearing to U-turn on his support.
“The crypto market is extremely volatile and insufficiently regulated - they pump, they dump,” ‘Matos’ added.
BitConnect hit the headlines in January when it closed down almost its entire operation following revelations it was a suspected Ponzi scheme.
Prior to summoning his fake Matos, Oliver had shown a clip of a more reputable source in the form of investor Don Tapscott explaining why Bitcoin is so difficult to hack.
“The Blockchain is a highly-processed thing - sort of like a Chicken McNugget,” he said. “And if you wanted to hack, it’d be like turn a Chicken McNugget back into a chicken.”
Oliver described Tapscott’s words as an “extremely dumb metaphor.”