Ellen Degeneres appears to be confused about what Bitcoin is and how it works but she is definitely low-key hating on Bitcoin. All in all, the coverage has to be considered a huge success for Bitcoin and cryptocurrency. While she's hating on the technology, an anonymous investor just bought $400 million(usd) in Bitcoin. Let's break down a little bit of what she said...
Ellen, "No one knows what Bitcoin is" this is simply not true. There was an opportunity there to direct her audience to a number of individuals who could answer any of their questions. She was concerned about Bitcoin having value, the value begins with its utility and extends to its ability to provide options, control, security and empowerment to every corner of a new global society... and that's just the beginning.
Ellen, "it's worth $20,000 or nothing" Another ridiculous statement. This one doesn't even need to be addressed.
Ellen, "I have no idea what decentralized digital currency means" Well, she previously mentioned that she had done some research. Doing research means that you should at least know what decentralized digital currency means. It seems pretty simple to understand that decentralized digital currency would represent no governing body or central authority having control over the currency we use, secure encrypted digital as opposed to corruptible and forgeable paper, to exchange goods and services. I'm sure she understands that although it centralized her credit card is digital currency. In the long run, I see decentralized digital currency as a major problem solved for governing bodies.
Ellen, "Pretend Bitcoin is a goat" okay, that's a really weird analogy, but let's continue..." You want to pick it up and pet it, but it's not there, It's in the Internet" I have absolutely no idea what any of this has to do with completing a transaction for goods and or services. Does she go and pick up the physical cash she's paid each week from her show?
Ellen "you need a digital purse or wallet, which is kept on an app or tiny hard drive, this is good because who wouldn't feel safe about keeping their life savings on a piece of plastic that you would throw in the washing machine" what should be apparent is that if it was your life savings you would secure it, and protected in a safety deposit box or safe. You wouldn't carry your life savings around in your pocket. And even if you did, it would be 100 times safer than carrying your life savings around in Fiat currency. Come on Ellen, you are smart, and incredibly funny. You have an huge following and major influence. You owe it to your audience to give them the facts and let them make the best decision for themselves.
I'm not upset with Ellen, not even a little bit. All press is some press and whether it was intentional or not, Ellen actually helped expand Bitcoin and all cryptocurrency platforms. Thanks Ellen!