A lot of people made big money in the tulip bubble....but they were still just tulips. Just because some people are 'scoring big' doesn't mean something actually has any value.
Pretty much. If you came in during the start of bitcoin, and then got out like a year ago, odds are you probably made some good money on it. To the people who think that they´re going to save for retirement in crypto, I say good luck, and I hope you didn´t invest too much.
@Sound Logic To me, it is the exact opposite of utility. Wasting computing power and electricity to generate virtual money. So far, pretty much all you can buy with it is child pornography on the dark web. There have been companies who tried to allow their products to be bought with crypto, most notably Tesla, but all of them backed out for now. Maybe in ten years, you will actually be able to buy something with it, but I am not holding my breath.
true, but money itself has no value, and bitcoin is a superior money to the current one we use...I agree that everything else in crypto world will eventually go to zero though. just not bitcoin
Bitcoin, stocks, paper money, its all the same, it's value is based on perception of value. A dollar note is truly worth a couple of cents, no intrinsic value.
There's no difference between buying crypto to sell for USD and buying Pokemon cards to sell for USD. Both values are pumped by hype and speculation. The usage of the product would turn it useless. You're supposed to hoard it like a collectable and sell it to the next fool that is willing to spend more than you.
you're glad you never got into bitcoin? which was a few dollars per coin 10 years ago, and is 20,000 dollars per coin today...you're GLAD you never got into it?
When Bitcoin first became cool, the first thing that popped into my head was the Dutch Tulip boom of the 1600s. Clearly we're not teaching the right sort of history to kids.
@@10tourch There were thousands of varieties of tulips, and the highest prices went to the rarest varieties. But that doesn't matter. It is an prime example of a commodity that is only worth what people think it is worth.
@@thtiger1 Everything is only worth what people think it’s worth. Youre literally saying nothing. Bitcoin has a purpose, money that isn’t controlled by a single government. No single point of failure. People all around the world using it for their value. Why shouldn’t that use case exist, and why shouldn’t that be worth anything? Just because you can’t hold it doesn’t mean there isn’t value for having secure value which many in third world countries especially do not have.
@@Earthad23 No, you can only make money selling it after it has gone up from the price you bought it at. If not, you are simply losing money by selling.
500k lines of code to create the most secure way of commerce and savings is not NOTHING. Bitcoin is a master class course on study. Every single Corporation in the world is now engaged with blockchain technology. Money today is nothing. You have an elite group of individuals that trade pieces of paper and debase that paper after you earned it when it purchased more. Most currencies fail and crash after a period of 50 years because of this. Bitcoin is finite and can not be counterfeited or confiscated. The market reveals that Bitcoin is the chosen Crypto. It's market cap is in the top 10 currencies in the world. It has never lost value in any 4 year period. You buy it and hold it over 4 years and you would have only made profit. People want something that Governments can't manipulate.
I’m watching how the price is static at the moment. It’s probably those who bought it at 60k can’t accept to lose money so they are holding on to dear life. (Of course I have no clear idea of how a price of something can go up and up in the first place for something so useless.)
It's interesting how little Bill knows about BTC at this moment each BTC's value is 155,000kwh. It's easy to make anything sound dumb when you have a negative opinion & don't understand the tech. I'm sure TSLA sold BTC because Bill is clue less. BlackRock just bought 200,000 BTC ($5B), I'm sure they know something this dope doesn't.
That's what I've called it from the beginning. "A Ponzi scheme". Stock is corporate shares that can give dividends, annual income dividends. It's as if people don't realize that crypto has important sales pitchers, and that's why think that it's something solidly valuable.
Similiar to butcoin art and gold have no intrinsic value. It costs as much as the other person is willing to pay for. The value of bitcoin is derived from its network effect sunce it is an electronic commodity that can be exchanged without any middleman. In other words, facebook has no value if there is only one active account, has little value when there are 3 people on network and has lot of value when you have millions of people on it. Same goes for visa network etc. Please understand that bitcoin cannot be vauled as a share of company. There are no dividents etc.
No matter how good the tech is, it is still a game currency, once the big fish start selling off their game account and leave the game, you start to see people falling off building.
There’s not a single entity on the face of the planet now that can control the operations of the Bitcoin blockchain. It’s predictable, divisible, transactable, and based on cryptography to ensure you are the sole arbiter of your coins. No one else. Not the government, not your angry neighbors, not your boss, and not your granny can do fuck about the wealth you store in a system like Bitcoin. Self-custodial money is by far the most hard money system ever created. If you really prefer your govbucks which get constantly debased by the cronies at the top, I genuinely feel bad for your line of reasoning likely based out of fear and ignorance.
Well, there's a difference between buying over priced investments based on arbitrary demand and a Ponzi scheme. A Ponzi scheme is when the pay off to an investment - the return - is based on bringing in new customers.
The only value crypto has is when more buy than sell. It has no purpose, utility and isn't even a currency or payment system. But please, borrow all the money you can and buy more!
@@buzzcrushtrendkill I’m trying to make sense of this comment, how is it not a currency or payment system? You can buy things with it right now. You can literally buy everything you would want including cars and property lmao. You guys say such farcical laughable things that it’s hard to even take you seriously. I’m sorry but someone has mislead you as to what cryptocurrency is doing.
the crypto exchanges offered people insane interest rates to park crypto in their system, and they were using capital from new investors to pay the interest of old investors no? That's why they're all going out of business. Bitcoin became super popular in part because of these unrealistic financial offerings.
I agree with you Bill. But 2+2 is four because we say it is. The sounds that we make out of our mouths are called words but what do they really mean what we say they do. The value of these things baseball cards classic cars anything is the value we put on it. What is value? What is anything? It’s all what we say it is crazy times. It’s all meaningless. What is money? What is any of this?
Do yourself a favor and do some research on Bitcoin. Maybe you’ll learn something. I bought crypto to leave the world a more place for the next generation of people.
@@ethaneveraldo so is the dollar we use everyday, except they print more of it. Devaluing my and your dollars. Tell which Ponzi makes the world more unstable??
@@vizualmagician69 it is madness to compare cryptocurrency to the dollar. You can build a business with dollars. You can’t do anything with crypto but to speculate someone will buy it from you at a higher price if you’re lucky.
@@ethaneveraldo what business can you start with dollars that you can’t do with Bitcoin. I see restaurants, car companies, retail, fashion, online gaming, grocery stores all over the US accepting crypto. So stop talking out of your ass and do some research and then tell me which one is better. For your sake. Heck, Black Rock, one of the largest wealth management companies, is about to offer BTC to their clients.
98 percent of your money is invisible. Stop with the physical thing. You are on the internet. You create commerce with digital all day long. How often do you hold your apple stock?
I'm holding nothing in my hand and I sell it to you for a dollar, I've made a dollar. You sell it to someone for a dollar 10, now you've made 10 cents . It gets sold again for a $1.50 and the third guy made 40 cents. No matter how many times it changes hands it is still nothing. Add this to the mix. When Bitcoin collapses are they going to distribute every single penny in every single person's account back to the account holder?.
Jim- And then, I don't want to pay you $1.40 for your nothing, I only want to pay you .80 cents...then the guy I sell to realizes his "nothing" isn't worth .80/cents and only gives me .35 I HAVE to take it because I paid .80/cents .. on n on n on...and then we have NOTHING!!
@@SDPBALLCOACH the stock market Works in a similar way the difference is there's usually a tangible asset somewhere in the mix. It's a pyramid scheme!. It's not sustainable. Eventually the available pool of money won't be enough and reality will show there was never anything there in the first place, except a black hole people dumped their money into.
@@jimda4910 No, the stock market is people buying "shares"/a piece of a Company that produces, builds, services SOMETHING!! I buy stock in Boeing because they BUILD airplanes, and I think they'll BUILD a lot more... I BUY SHARES of Disney because I think people will get back to going to the parks or make movies or go on cruises... Those are TANGIBLE things that drive a company and thus increase the VALUE/STOCK price. Not seeing the difference between Cryptocurrency and the stock market is 😨 scary...
It’s literally just new international internet money, that has many lines of defense against failure, and is secure. This is really simple people, you guys get too caught up on the “holding nothing” part. It’s money, just like using your credit card, except you don’t need a third party to spend it, it’s just an upgrade to our current systems. It’s really simple.
A friend of mine was really into bitcoin and was trying to convince everyone to get into it. I asked him what it's value was based on and he described a ponzi scheme. I was like yeah... it's bs. It's based on nothing.
@@saadbinrehman8186 Bitcoin is backed by energy. It takes processing power to make more bitcoin. The US dollar isn’t back by anything. What makes it valuable? Trust... that’s it. Bitcoin has trust maybe not as much as US dollar right now but it’s growing all the time, while the dollar is losing trust and will one day reach $0. It’s only a matter of time.
@@10tourch Bitcoin is not backed by energy, it uses energy to make itself. For a poor country like Burundi, Sri Lanka, etc. Bitcoin is a bankruptcy nightmare.
@@saadbinrehman8186 That is why the dollar is not real money either. It hasn't been backed by gold since August 15, 1971. The only reason a dollar has value is that people believe it has value. That is the same way BTC works.
@@phen0mize Well I will write my response in the words of Mark Twain for you which goes like this - IT'S EASIER TO FOOL PEOPLE THAN TO CONVINCE THEM THAT THEY HAVE BEEN FOOLED. Believe whatever the fool theory makes you to believe in.
It's funny that most money in america is just made by "I think this is going to be worth more in the future, so I'll buy it now, sell later" ...we love the idea so much we don't even need real objects anymore, NFTs do just fine.
Are you saying that printing money with no limit on the supply and inflating prices across the board is a much better strategy. Most criminals use cash by the way
I know it was meant as a joke, but there is an entire set of laws regarding what happens if someone forgets where they bank. The money goes to their state who keeps the record so they can get the money if they check to see if their name is attached to any of the records.
A Ponzi scam is a centralized model with a central authority. Bitcoin is decentralized there is no central authority. There is simply a market of buyers and seller just like the stock market. A stock has earnings? Why did Gamestop explode more than any other stock in it's break out year? All sales of goods, commodities and securities are a standard market. Bitcoin can be used to generate yield on yield farming sites or collateralized loan decentralized platforms like AAve.... just like a dividend but pays more.
You can generate yield just like a stock pays dividends with Bitcoin. Yield farming, Collateralized loans. You can do all of that on a decentralized autonomous platform. Google Aave and you can become a liquidity provider. 5 years without a hitch.
People are always going to want anonymity and it isn't always criminals, Crypto is a minefield when it comes to scams but I don't see it going anywhere despite that.
Gold was first used by criminals (pirates). The internet has been used for more crimes than the hand gun. Sending money instantly on the lightning network to a physician in Cambodia to pay for an emergency can be done with Bitcoin. You can literally save a life anywhere in the world if you needed to.
I find it interesting how they never discussed the technology behind Bitcoin, its limited supply, or its decentralized nature that enables anyone to transfer money from one place to another without the need for a middleman.
He's wrong about crypto (bitcoin ain't goin anywhere and was only a bad investment if you bought it in the past couple years and aren't holding onto it) but he's right about NFTs being "even stupider"
It hard to say if it’s really an, “investment” because the market of crypto is so volatile. The stock market are real companies selling real products as Bill was saying. Stock markets are backed up by something real, crypto is a made up currency that has no true value. So it could easily drop to being completely worthless at any point.
Why do they need to take gold out of mine s , a natural safe. The current money system wastes more time, energy, infrastructure and money then ?nuclear ?or what!
How much electricity is used in Bitcoin? I mean banking....how much electricity to run all those stupid IOU dispensers from the US Government. We make money. The US Gov. Literally makes so much fucking money.
Some people have a really hard time accepting that something that is purely digital like bitcoin can be real, so the automatic conclusion is that bitcoin is fake. They also don't get the concept of digital property, so if you own bitcoin you own nothing. It's what I got from lots of debates I've listened to. Even if you buy bitcoin to sell it later at a profit, that's fine and same applies to stocks. Everyone buys stocks hoping they will appreciate in value, not because they care about a certain company. Some buy ETFs and go with the market because they simply don't care about the underlying companies, they just want to escape inflation and hope for a better future. It's not the greater fool theory and bitcoin is the same, is not an economic bubble and this has been debunked already.
I first read about bitcoin in march of 2013 when it was $50. I thought, huh, this seems really interesting, maybe I should buy 100 of them. But I listened to the people around me who all said it was a waste of money and stupid. That is the single biggest regret of my entire life. Everyone who convinced me not to buy it are all doing great, good jobs, making good money, meanwhile I've lost everything and will never get it back. Bitcoin was my one and only shot to have a good life, and I let others convince me not to take it. Moral of the story, don't listen to other people, because while they casually suggest what you should do, they may go on to live great lives, meanwhile you get left completely behind and are left for dead.
How do you know that, seeing Bitcoin’s value rising, you wouldn’t have invested more of your own money or even taken out loans like some have had, only for Bitcoin’s value to be then wiped out and you would have been left with nothing but debts? That happened to a lot of people, and in my opinion Bitcoin will keep going down in value as people realize how useless it is.
The euro and the US $ are now worth the same, didn't use to be. What are these currencies backed up with? US $ used to be gold, but that was changed a lot time ago. If I'm not mistaken, the euro, US $, basically any current is based on what people believe it is worth. People trade currencies (and make money) all the time without having any physical products involved. A lot of the arguments against Bitcoin Bill talked about could be said for other currencies. Bill's still right on some level, but he's using weak arguments.
That’s why besides Ethereum (turing complete virtual machine - real business ) , pretty much every crypto technology is a Ponzi scheme. It is said to see such a great technology (coming from a theoretical informatics guy) being surrounded by so much bs. 99.9% of people shouldn’t have anything to do with Blockchain. If you don’t know how a computer works from a theoretical standpoint (language, grammar, using terminals & nonterminals to describe deterministic/ nondeterministic logical processing, having an understanding what problems are and how they are categorized- just to cite entry level, first semester stuff) you will definitely loose all your money. And even if you do, you would know that investing in it is not a good idea. The only thing that’s reasonable is to actually work for projects on it - that cannot be done on centralized machinery.
They like each other. I think Bill is just not in his environment and sober. Listen to them on mahers podcast " club random" and his tone is way more laid back.
It is fine to be skeptical of cryptocurrency, but crypto is NOT a Ponzi scheme. That is a factually incorrect statement. A Ponzi scheme is when you promise investors a return on their money and you pay those investors with new money that you have collected from other investors. This is not how crypto works.
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Watch the Full episode Here: th-cam.com/video/KFayfdX7ybg/w-d-xo.html
Howie how stupid are you believe in bitcoin ? Maybe you hold a degree from the great Facebook university.
A lot of people made big money in the tulip bubble....but they were still just tulips. Just because some people are 'scoring big' doesn't mean something actually has any value.
Pretty much. If you came in during the start of bitcoin, and then got out like a year ago, odds are you probably made some good money on it. To the people who think that they´re going to save for retirement in crypto, I say good luck, and I hope you didn´t invest too much.
this is the most intelligent comment. Just because it went super high doesn't mean it was actually worth that much.
@Sound Logic To me, it is the exact opposite of utility. Wasting computing power and electricity to generate virtual money. So far, pretty much all you can buy with it is child pornography on the dark web. There have been companies who tried to allow their products to be bought with crypto, most notably Tesla, but all of them backed out for now. Maybe in ten years, you will actually be able to buy something with it, but I am not holding my breath.
@Sound Logic If it turns to be usable, I can always put in money later.
true, but money itself has no value, and bitcoin is a superior money to the current one we use...I agree that everything else in crypto world will eventually go to zero though. just not bitcoin
It is hilarious to watch the difference between critical thinking and mind numbing rhetoric.
Yeah. Like ideas you can patent. No company would have gotten to the point without ideas and patents. As you said. Striking difference.
And who’s on which side?
@@maesc2001 well mind-numbing is on the side where someone requires other numb minds to make a profit
This is what an out of touch millionaire who dislikes something he doesn’t need or understand sounds like.
I'm not a fan of Maher, but he's absolutely right, here.
How?
He usually is
No, he's not. He's actually quite ignorant on the topic.
@@vakeone some kids triggered
Bitcoin, stocks, paper money, its all the same, it's value is based on perception of value. A dollar note is truly worth a couple of cents, no intrinsic value.
"If you ... owned all of the bitcoin in the world and you offered it to me for $25, I wouldn't take it,"
- Warren Buffet
And then his company invested in it.
@@codedusting No they didn’t. They invested in a digital bank that focuses on crypto currency, in general.
Warren Buffet hasn't used a computer in his entire life .
@@qweds3127 and he's worth 100 billion. what does that say about computers?
@@CA-ly7my he has made that money largely through computer usage so what does that say about computers
False , there are stocks that pay dividends to their shareholders. Which crypto pays you ?
All of the ones you can farm on decentralized finance, and at much higher APR.
Many of them pay if you stake it.
@@Thumper68 are they paying from the profit of their businesses?
@@Jimfly30 I don’t know I don’t do their books.
How did luna staking go. Lol
Bill's totally right. Totally glad I never got into it
There's no difference between buying crypto to sell for USD and buying Pokemon cards to sell for USD. Both values are pumped by hype and speculation. The usage of the product would turn it useless. You're supposed to hoard it like a collectable and sell it to the next fool that is willing to spend more than you.
Yea all those suckers who made millions… it’s the technology of the future, it will shake out and all the detractors will say they always knew it.
@@Earthad23 made millions by selling a useless product to the greater fools doesn't mean it works 😆😆😆😆 just mean they played you.
Knowing what you know now, would you have gotten in when it was a dollar??
you're glad you never got into bitcoin? which was a few dollars per coin 10 years ago, and is 20,000 dollars per coin today...you're GLAD you never got into it?
Bill has no idea what he's talking about lol....he consistently brings incredible conviction to topics that he knows nothing about.
NFTs and Crypto are garbage
When Bitcoin first became cool, the first thing that popped into my head was the Dutch Tulip boom of the 1600s. Clearly we're not teaching the right sort of history to kids.
Clearly you don’t understand limited supply
It’s like the total opposite of the Dutch Tulip boom. They oversaturated but bitcoin can’t as it comes out in intervals.
@@10tourch There were thousands of varieties of tulips, and the highest prices went to the rarest varieties. But that doesn't matter. It is an prime example of a commodity that is only worth what people think it is worth.
@@thtiger1 Everything is only worth what people think it’s worth. Youre literally saying nothing. Bitcoin has a purpose, money that isn’t controlled by a single government. No single point of failure. People all around the world using it for their value. Why shouldn’t that use case exist, and why shouldn’t that be worth anything? Just because you can’t hold it doesn’t mean there isn’t value for having secure value which many in third world countries especially do not have.
I wish I had created a Tulip NFT collection 😂
Holy shit, how can 3 people talk about a subject that they have ZERO understanding of so confidentially? This world really is going to shit…
Very dramatic. And you misspelled confidently. Based on your logic, you're the reason this world is going to shit.
I’m sure you are very knowledgeable on the subject. Shiba inu to the moon 🌚.
Because Bitcoin is actually pretty dumb
The people who got in early and out early made money. It's the "greater fool" scheme.
You can make money everyday with it, it’s an exchange.
@@Earthad23 No, you can only make money selling it after it has gone up from the price you bought it at. If not, you are simply losing money by selling.
@@jirkazalabak1514 yea, that’s true with any asset…..
Remind me in 2025-2026 sir bill the fool maher also ridiculed the smart phone and internet he’s a complete fool
@@Earthad23 exactly. I made $17 million dollars on FTX. matt damon and larry david got me into it.
Agree with bill. Money on nothing and in industrial scales is scary for economics and stupid people investing on it
I’ll laugh all the way to the bank.
500k lines of code to create the most secure way of commerce and savings is not NOTHING. Bitcoin is a master class course on study. Every single Corporation in the world is now engaged with blockchain technology. Money today is nothing. You have an elite group of individuals that trade pieces of paper and debase that paper after you earned it when it purchased more. Most currencies fail and crash after a period of 50 years because of this. Bitcoin is finite and can not be counterfeited or confiscated. The market reveals that Bitcoin is the chosen Crypto. It's market cap is in the top 10 currencies in the world. It has never lost value in any 4 year period. You buy it and hold it over 4 years and you would have only made profit. People want something that Governments can't manipulate.
Do not take financial advice from professional clowns 🤡🤡🤡
It's gonna be hilarious to come back and visit this video in like 10 years.
I’m watching how the price is static at the moment. It’s probably those who bought it at 60k can’t accept to lose money so they are holding on to dear life. (Of course I have no clear idea of how a price of something can go up and up in the first place for something so useless.)
@@elisantiago look at the housing market crashing like crazy
yeah, when SBF is halfway through his sentence.
Yeah 10 years these coiners will have fk all lol. You're absolutely right, it will be hilarious
How can bitcoin be a Ponzi scheme if it’s going up!
It's interesting how little Bill knows about BTC at this moment each BTC's value is 155,000kwh. It's easy to make anything sound dumb when you have a negative opinion & don't understand the tech. I'm sure TSLA sold BTC because Bill is clue less. BlackRock just bought 200,000 BTC ($5B), I'm sure they know something this dope doesn't.
What ponzi scheme uses a deflationary mechanic?
He has no idea what bitcoin is.
That's what I've called it from the beginning. "A Ponzi scheme". Stock is corporate shares that can give dividends, annual income dividends. It's as if people don't realize that crypto has important sales pitchers, and that's why think that it's something solidly valuable.
I'm going to sell you The Golden Gate bridge
Similiar to butcoin art and gold have no intrinsic value. It costs as much as the other person is willing to pay for. The value of bitcoin is derived from its network effect sunce it is an electronic commodity that can be exchanged without any middleman. In other words, facebook has no value if there is only one active account, has little value when there are 3 people on network and has lot of value when you have millions of people on it. Same goes for visa network etc. Please understand that bitcoin cannot be vauled as a share of company. There are no dividents etc.
@@YN-ot9jk gold has no intrinsic value?
It's only essential to making every single microchip or computer lol. So yea, it has value lol
@@soundlogic6353 , and still no country is adopting it by using it as an actual currency. 2023 and counting
@@lug.5329 actually 2 in 2023. Let's see how many more jump in this year ;)
Howie and his daughter are way smarter than Bill on this topic.
No matter how good the tech is, it is still a game currency, once the big fish start selling off their game account and leave the game, you start to see people falling off building.
There’s not a single entity on the face of the planet now that can control the operations of the Bitcoin blockchain. It’s predictable, divisible, transactable, and based on cryptography to ensure you are the sole arbiter of your coins. No one else. Not the government, not your angry neighbors, not your boss, and not your granny can do fuck about the wealth you store in a system like Bitcoin. Self-custodial money is by far the most hard money system ever created. If you really prefer your govbucks which get constantly debased by the cronies at the top, I genuinely feel bad for your line of reasoning likely based out of fear and ignorance.
@Sound Logic well because they are the big fish.
people that own bitcoin will be the big fish, heck the fed own 1% of all bitcoin, because they know people will want some of the pie soon enough
How is it a ponzi scheme if ponzi schemes are centralized?!? That was the whole point of Bitcoin LOL Some of these comments are quite entertaining....
No one wants to understand. Also Bil MAher is always 5 years behind in
everything.
@@phen0mize This clip is gonna look so embarrassing in 10 years, he'll probably try and get it deleted.
Boomers gonna boom
@@vakeone maybe, maybe not. People already killing themselves over their crypto losses. Pretty embarrassing if you ask me
Good luck losing all your money on digital monopoly “tokens” that are backed by the hopes and dreams of virgin nerds on basements everywhere
Bill Maher is comedy.
I don't think Elon Musk looks to Bill for financial advice.
Bill Maher is smart
YES SURE 😂😂😂😂
Well, there's a difference between buying over priced investments based on arbitrary demand and a Ponzi scheme. A Ponzi scheme is when the pay off to an investment - the return - is based on bringing in new customers.
The only value crypto has is when more buy than sell. It has no purpose, utility and isn't even a currency or payment system. But please, borrow all the money you can and buy more!
Crypto only has value if you can find another sucker to buy it! It's all made up BS for fools to lose their money
@@buzzcrushtrendkill I’m trying to make sense of this comment, how is it not a currency or payment system? You can buy things with it right now. You can literally buy everything you would want including cars and property lmao. You guys say such farcical laughable things that it’s hard to even take you seriously. I’m sorry but someone has mislead you as to what cryptocurrency is doing.
the crypto exchanges offered people insane interest rates to park crypto in their system, and they were using capital from new investors to pay the interest of old investors no? That's why they're all going out of business. Bitcoin became super popular in part because of these unrealistic financial offerings.
@@cryptocaesar8972 Im on the road and would like to buy gasoline, can you recommend a gas station that accepts Bitcoin directly?
I agree with you Bill. But 2+2 is four because we say it is. The sounds that we make out of our mouths are called words but what do they really mean what we say they do. The value of these things baseball cards classic cars anything is the value we put on it. What is value? What is anything? It’s all what we say it is crazy times. It’s all meaningless. What is money? What is any of this?
Bitcoin is not a ponzi scheme
Thank you Bill for speaking the truth to people!! About time someone says it
Do yourself a favor and do some research on Bitcoin. Maybe you’ll learn something. I bought crypto to leave the world a more place for the next generation of people.
@@vizualmagician69 why don’t you do the same? Nothing about crypto will make the world a better place. It’s a Ponzi scam.
@@ethaneveraldo so is the dollar we use everyday, except they print more of it. Devaluing my and your dollars. Tell which Ponzi makes the world more unstable??
@@vizualmagician69 it is madness to compare cryptocurrency to the dollar. You can build a business with dollars. You can’t do anything with crypto but to speculate someone will buy it from you at a higher price if you’re lucky.
@@ethaneveraldo what business can you start with dollars that you can’t do with Bitcoin. I see restaurants, car companies, retail, fashion, online gaming, grocery stores all over the US accepting crypto. So stop talking out of your ass and do some research and then tell me which one is better. For your sake. Heck, Black Rock, one of the largest wealth management companies, is about to offer BTC to their clients.
theyre both wrong.
I’m with Bill. Invisible currency is worthless.
Isn't credit invisible currency?
Just like a credit card 💳 😌
wow you're such a dummy XD
98 percent of your money is invisible. Stop with the physical thing. You are on the internet. You create commerce with digital all day long. How often do you hold your apple stock?
people are having a hard time stomaching a full transfer into a digital world
I haven’t used cash in 5 years and I don’t use bitcoin 😂
I'm holding nothing in my hand and I sell it to you for a dollar, I've made a dollar. You sell it to someone for a dollar 10, now you've made 10 cents . It gets sold again for a $1.50 and the third guy made 40 cents. No matter how many times it changes hands it is still nothing. Add this to the mix. When Bitcoin collapses are they going to distribute every single penny in every single person's account back to the account holder?.
Jim-
And then, I don't want to pay you $1.40 for your nothing, I only want to pay you .80 cents...then the guy I sell to realizes his "nothing" isn't worth .80/cents and only gives me .35
I HAVE to take it because I paid .80/cents .. on n on n on...and then we have NOTHING!!
@@SDPBALLCOACH the stock market Works in a similar way the difference is there's usually a tangible asset somewhere in the mix. It's a pyramid scheme!. It's not sustainable. Eventually the available pool of money won't be enough and reality will show there was never anything there in the first place, except a black hole people dumped their money into.
@@jimda4910
No, the stock market is people buying "shares"/a piece of a Company that produces, builds, services SOMETHING!!
I buy stock in Boeing because they BUILD airplanes, and I think they'll BUILD a lot more...
I BUY SHARES of Disney because I think people will get back to going to the parks or make movies or go on cruises...
Those are TANGIBLE things that drive a company and thus increase the VALUE/STOCK price.
Not seeing the difference between Cryptocurrency and the stock market is 😨 scary...
@@SDPBALLCOACH I think you need to reread the beginning of my comment.
It’s literally just new international internet money, that has many lines of defense against failure, and is secure. This is really simple people, you guys get too caught up on the “holding nothing” part. It’s money, just like using your credit card, except you don’t need a third party to spend it, it’s just an upgrade to our current systems. It’s really simple.
people don't understand networks
I mean the Entertainment Business doesn't give a sh*t about me and my talents but at least I can sell merch!
Curecoin (valued in computational medical research - not hashes)...
Bill Maher is the type of guy who still uses a typewriter and has a Blockbuster card in his wallet.
Howie and his daughter are so ignorant.
I know right? I'm sitting here in awe of how fucking stupid they are. No wonder Bill gets irritated
A friend of mine was really into bitcoin and was trying to convince everyone to get into it. I asked him what it's value was based on and he described a ponzi scheme. I was like yeah... it's bs. It's based on nothing.
Tell him real money is backed by gold, what crypto is backed by ? Your friends answer is by human emotions.
@@saadbinrehman8186 Bitcoin is backed by energy. It takes processing power to make more bitcoin. The US dollar isn’t back by anything. What makes it valuable? Trust... that’s it. Bitcoin has trust maybe not as much as US dollar right now but it’s growing all the time, while the dollar is losing trust and will one day reach $0. It’s only a matter of time.
@@10tourch Bitcoin is not backed by energy, it uses energy to make itself. For a poor country like Burundi, Sri Lanka, etc. Bitcoin is a bankruptcy nightmare.
@@saadbinrehman8186 That is why the dollar is not real money either. It hasn't been backed by gold since August 15, 1971. The only reason a dollar has value is that people believe it has value. That is the same way BTC works.
@@phen0mize Well I will write my response in the words of Mark Twain for you which goes like this - IT'S EASIER TO FOOL PEOPLE THAN TO CONVINCE THEM THAT THEY HAVE BEEN FOOLED. Believe whatever the fool theory makes you to believe in.
It's funny that most money in america is just made by "I think this is going to be worth more in the future, so I'll buy it now, sell later" ...we love the idea so much we don't even need real objects anymore, NFTs do just fine.
And shorting with the idea of
I’ll borrow and sell now and maybe it will be worth less in the future
The heroin of the gambling market
Bill Maher is not wrong
This aged well 😂
hahah
" Rat poison squared " Warren Buffett
Lol, I was thinking the same thing!
If Bitcoin is rat poison that makes warren buffet the rat
“You could make good money in a Ponzi” - Howie 😂😂😂😂
Yea by SCAMMING a greedy fool….
Well said BILL !!😎👍
yeah thanks for trying to keep the price low 😂😂
lmao the Hopium and Bag holder syndrome in this comment section is gold.
keep hodling boys - you give us something to laugh at.
My Bobby's World Button is a one of a kind by the way.
Are you saying that printing money with no limit on the supply and inflating prices across the board is a much better strategy. Most criminals use cash by the way
We are still early
Comedians pretending to know something that, I a computer engineer, struggle to understand.
When you invest in the stock market you are investing in revenue, sales, products, you are not investing in future investments.
I know it was meant as a joke, but there is an entire set of laws regarding what happens if someone forgets where they bank. The money goes to their state who keeps the record so they can get the money if they check to see if their name is attached to any of the records.
I swear it ridiculous when people say “aren’t stocks a Ponzi” - means they don’t know what a Ponzi Scheme is….
A Ponzi scam is a centralized model with a central authority. Bitcoin is decentralized there is no central authority. There is simply a market of buyers and seller just like the stock market. A stock has earnings? Why did Gamestop explode more than any other stock in it's break out year? All sales of goods, commodities and securities are a standard market. Bitcoin can be used to generate yield on yield farming sites or collateralized loan decentralized platforms like AAve.... just like a dividend but pays more.
Bill, Bill, Bill.......it's cringe to hear people talk about crypto that don't know anything about it!
Which is why you don't talk about it. Thank you for that.
yeah, let's get SBF's views
You can generate yield just like a stock pays dividends with Bitcoin. Yield farming, Collateralized loans. You can do all of that on a decentralized autonomous platform. Google Aave and you can become a liquidity provider. 5 years without a hitch.
If crypto is a scam, then why are so many major corporations and banks getting involved in it?
How can you not know what it was originally used for?
People are always going to want anonymity and it isn't always criminals, Crypto is a minefield when it comes to scams but I don't see it going anywhere despite that.
Gold was first used by criminals (pirates). The internet has been used for more crimes than the hand gun. Sending money instantly on the lightning network to a physician in Cambodia to pay for an emergency can be done with Bitcoin. You can literally save a life anywhere in the world if you needed to.
Wait til Bill learns about RWAs...
Made in the U.S.A. by the way!
you mean the Bahamas? or Hong Kong? or Dubai? where is Do Kwan these days?
I find it interesting how they never discussed the technology behind Bitcoin, its limited supply, or its decentralized nature that enables anyone to transfer money from one place to another without the need for a middleman.
He's wrong about crypto (bitcoin ain't goin anywhere and was only a bad investment if you bought it in the past couple years and aren't holding onto it) but he's right about NFTs being "even stupider"
It hard to say if it’s really an, “investment” because the market of crypto is so volatile. The stock market are real companies selling real products as Bill was saying. Stock markets are backed up by something real, crypto is a made up currency that has no true value. So it could easily drop to being completely worthless at any point.
That is how ponzis are until they collapse
Black mold ain’t going anywhere either, doesn’t mean it’s good to invest in
@@TobleroneCraft great analogy, minus the great part
@@voccsaycee30 hilarious comeback minus the hilarity
“Bitcoin is Mary Kay for young men”
Dave Ramsey
Bitcoin is the world's most annoying people falling for the world's most obvious scam.
Dave's an idiot
So cash is what criminals use too I guess since it’s not tracked.
That's the excuse police departments use when they find someone with cash and want extra funding for their department.
@@Primalxbeast yeah that great bs civil asset forfeiture
Maher loves his debased fiat. Thats for sure
Why do they need to take gold out of mine s , a natural safe. The current money system wastes more time, energy, infrastructure and money then ?nuclear ?or what!
Howei looks soo old here!!why is he wearing those weird glasses and look so old,he was much better looking!
Biggest scam in History. And this is coming from a guy who made over 300k in profit from crypto in the past 1.5 years.
wait until bill learns about fiat/US dollar, lol.
How much electricity is used in Bitcoin? I mean banking....how much electricity to run all those stupid IOU dispensers from the US Government. We make money. The US Gov. Literally makes so much fucking money.
Hey guys, please remember me this video in 1 year :D
here you go my man!!
@@MikeEnx thanks!! Bitcoin its a horrible investement i see ahah
@@hiphoptugaa9525 hahaha never listen to politicians or Gvmnt media advice!! always do the opposite 😁
Howie is the opposite of smart
What a hilarious comment section 🤣 Thinking Bill Maher has a clue about technology lmao
Maher is way off here
why don't we get SBF's opinion?
lol Bill is gonna trigger some angsty gamblers with this one
Some people have a really hard time accepting that something that is purely digital like bitcoin can be real, so the automatic conclusion is that bitcoin is fake. They also don't get the concept of digital property, so if you own bitcoin you own nothing. It's what I got from lots of debates I've listened to.
Even if you buy bitcoin to sell it later at a profit, that's fine and same applies to stocks. Everyone buys stocks hoping they will appreciate in value, not because they care about a certain company. Some buy ETFs and go with the market because they simply don't care about the underlying companies, they just want to escape inflation and hope for a better future. It's not the greater fool theory and bitcoin is the same, is not an economic bubble and this has been debunked already.
Not a single fact stated
😄😆 “RIGHT… it’s for criminals” 😂🤣
Bitcoin is the best asset in the world.
I first read about bitcoin in march of 2013 when it was $50. I thought, huh, this seems really interesting, maybe I should buy 100 of them. But I listened to the people around me who all said it was a waste of money and stupid. That is the single biggest regret of my entire life. Everyone who convinced me not to buy it are all doing great, good jobs, making good money, meanwhile I've lost everything and will never get it back. Bitcoin was my one and only shot to have a good life, and I let others convince me not to take it.
Moral of the story, don't listen to other people, because while they casually suggest what you should do, they may go on to live great lives, meanwhile you get left completely behind and are left for dead.
How do you know that, seeing Bitcoin’s value rising, you wouldn’t have invested more of your own money or even taken out loans like some have had, only for Bitcoin’s value to be then wiped out and you would have been left with nothing but debts?
That happened to a lot of people, and in my opinion Bitcoin will keep going down in value as people realize how useless it is.
There still right , its worth nothing.
@@paulcoffman9841 It's actually worth about $16,700. A far cry from it's peak but hardly nothing.
Bitcoin isn’t a currency
How is this not obvious
obviously wrong XD
If you can't touch it, it's not real.
90% of the world's money supply isn't real then
@@MikeEnx
"90% of the world's money supply isn't real then"
Well, yeah. Pretty much the entire NATO economy is just made up out of thin air.
Keep buying fiat, then. Good luck!
There must be more bankruptcies, more failure, more risk. This is the only route to success.
lol thats not success thats collapse buddy
The euro and the US $ are now worth the same, didn't use to be. What are these currencies backed up with? US $ used to be gold, but that was changed a lot time ago. If I'm not mistaken, the euro, US $, basically any current is based on what people believe it is worth. People trade currencies (and make money) all the time without having any physical products involved. A lot of the arguments against Bitcoin Bill talked about could be said for other currencies. Bill's still right on some level, but he's using weak arguments.
Wow Howie. Wow. I feel sorry for your ignorance on this specific topic. Take a step back and do some learning.
Anything that does not produce income could be a form of ponzi however that would apply to non dividend stocks.
Woke celebrity really into Natural Born Killers vs well read hot air balloon
Bring 100 people to las Vegas for a weekend to gamble their life savings. Like Howie I can guarantee that some will come back as big winners.
That’s why besides Ethereum (turing complete virtual machine - real business ) , pretty much every crypto technology is a Ponzi scheme. It is said to see such a great technology (coming from a theoretical informatics guy) being surrounded by so much bs.
99.9% of people shouldn’t have anything to do with Blockchain. If you don’t know how a computer works from a theoretical standpoint (language, grammar, using terminals & nonterminals to describe deterministic/ nondeterministic logical processing, having an understanding what problems are and how they are categorized- just to cite entry level, first semester stuff) you will definitely loose all your money. And even if you do, you would know that investing in it is not a good idea. The only thing that’s reasonable is to actually work for projects on it - that cannot be done on centralized machinery.
Does Bill have beef with Howie? He seems super combative in these clips lol
They like each other. I think Bill is just not in his environment and sober. Listen to them on mahers podcast " club random" and his tone is way more laid back.
No, it's just that howie is a total idiot and I'm sure that's frustrating. The daughter too..
Sorry no gremlins buttons yet! But I will be looking. 😎
Bit coin is reverting to the gold standard. The only difference is It's global and uses code instead of metal.
Bearer bonds, krugerrands, and bullets.
So is the dollar
It is fine to be skeptical of cryptocurrency, but crypto is NOT a Ponzi scheme. That is a factually incorrect statement. A Ponzi scheme is when you promise investors a return on their money and you pay those investors with new money that you have collected from other investors. This is not how crypto works.
Of course....the early people make money....on the backs of everyone else.
Maher needs to talk to someone smarter than him on this one, but he is smart enough not to put himself in that situation
you mean, like SBF, right?
@@ues5587 LOLZ
Aging well... (2024/10/19)
What makes Bill Maher an authority on anything? He’s pretty much wrong on all his takes.