Talk show celebrity, Ellen DeGeneres, whose viewership averages at almost 3 million viewers per episode, took upon herself to talk about Bitcoin. She dedicated several minutes in her latest episode on their non-physical nature, the system of wallets as well as few jibes on its volatility.
“You’re probably thinking, ‘Ellen, if I can’t physically touch it, where can I keep my bitcoin? In a digital purse?’ which is a funny idea but it’s kind of true,” she elaborated on screen.
The most striking feature about the Bitcoin blitz is the apparent lack of knowledge regarding even the most elementary principles and mechanisms of the cryptocurrencies among general populace as well as investor community. And this has been a cause of major headache to several businesses.
Exchanges have been the forefront of these “headaches” as technical expertise is must, and also a front-end staff with enough information as to what can and what cannot be done with a crypto holding as opposed to fiat.
Coinbase, the biggest wallet provider in US, produced a dedicated post showcasing its HR practices after a period of criticisms over inefficient staff and service.
DeGeneres’ basic description attracted some reactions which clearly indicate that cryptocurrencies have a long distance to go in between the crypto enthusiasts and the ones who haven’t had a brush with digital currencies in any manner.
“I also found out Bitcoin works kind of like the stock market,” she continued.
“Say you own one bitcoin and you bought it when it was worth $10,000 – and then for some reason Bitcoin becomes worth $20,000 – you just doubled your money… Basically if you invest in Bitcoin you’ll either be a millionaire or you’ll be totally broke.”
Cryptocurrency forums reactions were broadly positive for DeGeneres’ effort.