Bitcoin has definitely crossed the general threshold of mainstream adoption in where it is well known, but not exactly well understood. Many entered the cryptocurrency space without really understanding it, and now, talk show host and comedian Ellen DeGeneres has tried her luck at making sense of it.
Talking to her audience, on the popular talk show, The Ellen DeGeneres Show, the host tried to give a clearer understanding of the virtual currency.
No one understands it
DeGeneres summed up the current standing of Bitcoin in a lot of people’s mind when she said:
Everybody is talking about Bitcoin, nobody understands it,
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.'
She carried on with her analogous explanations of what Bitcoin is, trying to get it across to her fan base that it has certain properties, but also lacks a lot of key ones- such as physically existing.
Pretend like Bitcoin is a goat. Now it's adorable... and you want to pick it up and you want to pet it. But you can't because it's not there, it doesn't exist except for on that Internet right there, just like Bitcoin is digital currency,
She did go on to make a few more substantiated claims, comparing the digital currency to the stock market, but finished it off by saying:
Basically, if you invest in Bitcoin, you'll either be a millionaire or you'll be totally broke," she said open-endedly.
If you want to know what bitcoin is, I learned about it. A bit. pic.twitter.com/txICiTXYgi— Ellen DeGeneres (@TheEllenShow) February 15, 2018
While Bitcoin being mentioned on a show like the Ellen DeGeneres Show may seem like a non-event, the importance of it comes in just how far the digital currency has come - and how far it still has to go.
Bitcoin was, not even a year ago, still very much undercover and hardly known other than by those who were vested in technology, financial technology or perhaps high risk investing.
Many had their first taste of Bitcoin when the Silk Road was taken down and the illicit online store was explained to be run by a totally virtual currency.
The fact that it has now reached the homely mass appeal Ellen DeGeneres show proves how far it has come.