New Rule: Crypto Mania! | Real Time with Bill Maher (HBO)

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In his editorial New Rule, Bill explores the worldwide cryptocurrency craze and the menace it poses to our economic system and the atmosphere.

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  1. Who knows how much energy Bitcoin takes? It's not real….they can SAY whatever they like….there is ZERO proof about anything about it. How do you know it was "mined"??

  2. The gold standard was completely replaced by fiat money, a term to describe currency that is used because of a government's order, or fiat, that the currency must be accepted as a means of payment.

  3. All of the people who buy into this blatant Fraud scheme have no room to bitch or complain when the next market crash comes around.
    You have been selling something that doesn't exist and doesn't have any kind of actual real world value to anyone, other than the next rube looking for the next get rich quick scheme.

  4. its really not that hard to understand…

    its basically a made up commodity that if enough people believe in it , then it will hold some value and people will trade that value for other things
    with bitcoin, it use to be used for anonymous transactions for buying drugs and other illegal services on the dark web.
    the modern use with the verified id checks and all that is just basically another stock

  5. It’s a game of hot potato, it just reminds me of the South seas collapse in England. A company making money just off of the stock trade will collapse when people stop buying, because there is no product to support the company.

  6. Remember the good old days when a pound meant a pound of gold, silver or copper which you could melt down and use, or better yet, when the common currency was salt, cloth, beer or rice?

  7. To buy crypto currency you have to have real money, so there is your start that you said didn't exist. And it is providing many services for money. One is that the value is not controlled by a bank or a country. There are many other services that attract people to it, one is like Warren Buffet said, you hope someone will come along later and pay more for it, but isn't that how half the stocks on the market are? Many of their values do not correlate to what they are producing, but how people "feel" about it or hoping that someone will come along later and pay more for it.
    So I don't see the problem, crypto currency is as real as anything else people use to try to make money without actually working for it.

  8. ummm, bill, we have a fiat currency system in the U.S. it works exactly the same way, paper money has no backing except that people think it has worth because they think the government controls the money supply, which it doesn't. FED, private corporation, although I think it has some regulation or oversight, but still, one "ponzi scheme" is essentially the same as another

  9. Bill, your point is well taken. I lost over $123k a few years ago by a scammer of Bit Coins, and I don't know how to get my money back. However, you have to also remember that our dollars are no longer backed up by anything other than promised notes. It used to be that our dollars are backed up by pure gold bars. So, it looks like nether Bit Coins or our FIAT money is backed up be anything at all. We are in deep Kimchee.

  10. This was actually a well done explanation. The truth is the longer crypto currency has been around, the more I am glad I stayed out of it. It does not produce anything of real value, there is no safeguards or accountability supports in case of failure, theft or loss. Cryptocurrency is a big ponzi scheme, bubble and some kind of failed logic problem that traps people who enter it. Do I think the mechanism and concept design of cryptocurrenxy will stick around, yes, but we will look back in the history books and can draw obvious parallels to the dot-com bubble or the Dutch Tulip bubble of the 1600s.

  11. What's the difference between crypto and stocks? Just like crypto stocks have absolutely no value unless somebody else is willing to buy it from you. You don't own part of the company and the company doesn't owe you anything. If the company is doing great but nobody likes that sector of stocks the stocks go down in price company could go bankrupt but there's people are still buying their stock and paying outrageous amounts for it then the price of that stock goes up. Talk about a dangerous scam.

  12. Lmao our fiat currency isn’t real. It’s not based on anything real. We went off the gold standard so it’s now based on nothing except our mutual agreement.

  13. Love reading the comments of a year ago – attacking the guy’s age instead of the simple truths he raised. Gen Z has proven itself to be the most religious/incurious/magical thinking crew we’ve minted to date.

  14. Real money disappeared when we left the gold standard in "71." Now everything is just another fiat ponzi scheme. When food and water become scarce even gold has no value..

  15. Bill once again failed to do his homework seriously. Ah, loved it, "not like real money that generates from something real". Bill, do you mind explaining me what is the "real" thing that allows the Fed to generate new money? My friend, the dollar is no longer a gold reserve backed currency. It hasn't been for decades! Its realness ends with the sentence "backed by the ability of the US to meet its obligations. It's FIAT money, not very real. Or, only fractionally real. Everyone assumes the US will be able to pay its debt, as it has always done, so it is money literally created from thin air by banks. Nothing real backs it. Wanna create some new money right now? go to your bank and borrow one million dollars. Go to another bank, open an account and deposit the million. You just created over $900,000 in new money. The bank where you deposited the $1M check is only obligated to increase its reserves by 10%. They will lend the other $900,000 to other borrowers. So you now owe 1 million to bank A but have $1M in Bank B. It evens out. But Bank B has outstanding loans for $900,000 that will need to be repaid. You created 900 grands by allowing bankers to pull them out of their asses. Literally. This happens thousands of times a day, in large amounts, as corporations, institutions, the government borrow or receive money they then temporarily park in some bank account. The dollar is slightly more real than Crypto, in reality. Both are bullshit destined to collapse. The difference is that the dollar can solidly sustain the lie for a few more years, before compound interest, that never stops working, will make it impossible for the US to meet its debt obligations. Nothing can grow for ever without collapsing. Just simple math

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