But Dogecoin recently rallied to be worth more than the market cap of Ford and Kraft Foods and it has no product and no workers,” he said.
I’ve had it explained to me and I still don’t get it, and neither did you or anyone else,” he continued.
“Now capitalism, of course has always contained an element where instead of actually making something or providing a service for money, you could make money in the exciting field of money,” Maher added.
Maher warned that “there is something inherently not credible about creating hundreds of billions in virtual wealth with nothing ever actually being accomplished, and no actual product may or service rendered.
The power being used right now to guess numbers and win imaginary prizes is the same as all the electricity needed to light all of New York state.
“Bitcoin uses more electricity per transaction than any other method known to mankind.