John Oliver attacks cryptocurrency craze: 'You're not investing. You're gambling'

John Oliver addressed bitcoin and the crypto-craze on Last Week Tonight yesterday evening, describing the phenomenon as, "Everything you don't understand about money combined with everything you don't understand about computers." The British comedian satirised consumers' rush to enter the digicoin market without fully understanding how it works or what much of its accompanying jargon actually means. "The vast majority of people buying these coins are not paying much attention to the details of the startups they are attached to, they are responding to the huge fervour," Oliver observed. "Many people are buying coins for no reason other than other people are buying them." Elsewhere in an extensive 25-minute address, Oliver sent up the "cult-like devotion" with which investors follow sub-Reddits and YouTubers preaching the bitcoin gospel.