While trying to provide answer to the question “What exactly is Bitcoin?”, Ellen DeGeneres the humorous talk show host in her trademark humorous style during her show this week likened Bitcoin to “a baby goat”, and also “a movie with a super-confusing plot.”
The extreme volatility of the cryptocurrency has at the same time fascinated and confused the majority during its wild ride recently – Bitcoin value soared to almost $20,000 late last year, but fell to below $6,000 last week, and then recovering steadily, around $10,000 presently.
Ellen DeGeneres’ explanation may really sound confusing, however, if one carefully watches Ellen explain it, it would make more sense after all.
Her explanation might not teach much about Bitcoin, but it does a good job of summarizing the misunderstanding most people feel while wondering just what the heck is Bitcoin and what decides its value. Here is the video, it worth watching for a few laughter as well.
If you want to know what bitcoin is, I learned about it. A bit. pic.twitter.com/txICiTXYgi
— Ellen DeGeneres (@TheEllenShow) February 15, 2018
In her monologue, Ellen DeGeneres said essentially, “nobody understands” Bitcoin. Though there are lots of people out there who are actually pretending to understand what the cryptocurrency is all about:
“It’s like a plot twist in a confusing movie, when you’re watching a movie and your friends are acting like they know what’s going on, and you’re like, ‘Yeah, I do too.’”
Even highly esteemed investors of the likes of billionaire Warren Buffett don’t seem to fully comprehend what bitcoin and other cryptocurrencies are. When Buffett was asked in early January if he would try to invest in cryptocurrencies, he replied “I get into enough trouble with things I think I know something about, why in the world should I take a long or short position in something I don’t know anything about?”
However, Buffett made a forecast of where Bitcoin and other cryptocurrencies would end up in the long run:
“In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending.”
If you are to give an explanation of what bitcoin is, what will you say? Tell us in the comment box.
Join Our Telegram Channel