So many prominent men and billionaires have criticized cryptocurrencies in recent time, ranging from Munger to Bill Maher. In this instance according to Bill Maher, cryptocurrencies, Bitcoin to Dogecoin are all fake and a definite amount of energy is still needed.
Maher opined that the aim of mining crypto was to “make something that is purposefully arbitrary.” Comparing the crypto space to a virtual game and speaking about mining in a seemingly derisive tone, Maher implied investing in tokens was a childish endeavor which some prominent financial figures like Warren Buffett were avoiding. Maher made the aforementioned assertion while speaking to New Rules segment on his show Real Time with Bill Maher on Friday
“There is something inherently not credible about creating hundreds of billions in virtual wealth with nothing ever actually being accomplished and no actual product made or service rendered,” said Maher. “Unfortunately what is real is the unfathomable amount of electricity those massive supercomputers suck up for their mining.”
“Bitcoin uses more electricity per transaction than any other method known to mankind just one uses more energy than a million visa transactions and has the same carbon footprint as 85,000 hours of watching Youtube […] Bitcoin uses more energy than Netflix, Apple, Facebook, Microsoft and Google combined.”
The comedian admitted he still doesn’t “get it” when it comes to crypto — for example, he mistakenly referred to the creator of Bitcoin (BTC) as “Satatoshi Nakamoto.” Prominent figures in the space were quick to jump on Maher’s comments, seemingly referring to the 65-year-old as someone who was out of touch with the realities of the financial world.