Ellen DeGeneres Is Down with Bitcoin
US daytime television chat show queen, Ellen DeGeneres, featured bitcoin in a recent segment, wondering aloud about its fundamental mysteries with her enthused audience. And while it was a funny look at the cryptocurrency, she managed to expose an often missed demographic to cryptocurrency: baby goat loving moms.
Also read: Citibank India Bans Bitcoin
Ellen DeGeneres Pokes Fun at Bitcoin
“One thing I am down with right now, that I think everybody is learning about, is bitcoin. Who’s heard of bitcoin? Who can explain what bitcoin is? Liar. Nobody knows how it works. Nobody,” host Ellen DeGeneres, 60, said incredulously during her eponymously named program.
The Ellen DeGeneres Show is enjoying its 15th year as a daily entertainment talk show. And with over 2,500 episodes under its belt, the Warner Brothers Television distributed program has racked up 59 Daytime Emmy Awards, eclipsing the mighty Oprah. Ellen kicks so much ass, Telepictures signed the show through 2020, even launching a game show component.
“Everybody is talking about bitcoin; nobody understands it,” Ms. DeGeneres continued. “It’s like a plot twist in a confusing movie. When you’re watching a movie and your friends act like they know what’s going on, and you’re like, ‘Yeah, I do too!’ And then you’re like, ‘What the hell is every … I have no idea!’ All I know is that bitcoin is either worth twenty thousand dollars or nothing; that’s what I know. It’s like a digital Antiques Roadshow. You’re just standing in line, and you have no idea until you get there.”
Though she now commands a daily audience nearing 3 million, Ms. DeGeneres has earned her spot among comedy greats. She began in the 1980s as that rather rare bird, a female stand up comedian. In 1990s she had the chance in two situation comedies, neither of which went as well as her present gig, but she forged new ground by publicly announcing her sexual orientation. In 2008 she married girlfriend Portia de Rossi. She is now considered a leading advocate for sexual minorities. She is also famous for her voice work in the Pixar franchises Finding Nemo and Finding Dory, and for having hosted the Emmys, Grammy Awards, and the Academy Awards. She was awarded the Presidential Medal of Freedom by President Obama.
Economics Ellen
The self-effacing comedian explained, “But they didn’t call me ‘Economics Ellen’ in high school for nothing. They called me that because I failed economics. So I did a little research, and I am going, to the best of my ability, explain how bitcoin works. Okay, first, the article I read said bitcoin is a decentralized digital currency. Now, to be honest, I don’t know what that means. But here’s what I am going to do. I am going to explain it and I think we’re all going to get this. Pretend like bitcoin is a goat. Now, it’s adorable, right? Everyone agrees it’s adorable. And you want to pick it up and you want to pet it, right? But you can’t because it’s not there. It doesn’t exist for except on that internet right there … just like bitcoin is digital currency,” and a visual of a baby goat appeared on a large screen behind her.
“You’re probably thinking: ‘Ellen, if I cannot physically touch it, where do I keep my bitcoin? In a digital purse? Which is a funny idea, but it’s kinda true. You keep it in a digital wallet, okay,” Ms. DeGeneres said, showing pictures of the popular Toast wallet. “And the digital wallet can either be apps on your phone or tiny hard drives like this,” she elaborated, and what appears to be a cold storage product from Ledger flashes on the same screen. “Which is a really good idea because who wouldn’t feel safe with their life savings on a piece of plastic that could go into the washing machine. And it sounds like a Jimmy Kimmel prank, but it’s not. A digital wallet holds all of your bitcoin, unlike your real wallet which holds receipts and punch cards for free Jamba Juice.”
Teasing is certainly welcome in the bitcoin space, especially after the last few months. Though its price is bouncing back, many bitcoiners were starting wonder what would become of the asset. It would be hard to beat 2017’s success. However, if popular acceptance and acknowledgement from the likes of 50 Cent, Jay-Z, and now Ellen are any indication, the ecosystem might be in for another crazy ride.
Ms. DeGeneres ended the segment by suggesting, “I also found out bitcoin operates sorta like the stock market, so say you own one bitcoin and when you bought it it was worth ten thousand dollars, okay? And then for some reason bitcoin becomes worth twenty thousand dollars; you just doubled your money. Personally I’d rather own a baby goat. But that’s just me. Basically if you invest in bitcoin you’ll either be a millionaire or totally broke.”
Is this the year bitcoin moves fully into the mainstream? Let us know in the comments section below.
Images courtesy of Pixabay, Ellen DeGeneres Show, Twitter
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Several States Spearhead Bitcoin Adoption in the U.S.
U.S. states with positive attitudes have advanced towards bitcoin legalization – a process that a growing number of elected officials consider inevitable, if not desirable. Numerous crypto-friendly bills have been introduced, and some of them have received approval in committees and houses of state legislatures. One wouldn’t necessarily think of states like Arizona, Tennessee, and Wyoming as the backbone of a great nation’s economy. How about… pioneers of its future development?
Also read: US Regulator Warns Against Pump-and-Dumps and Advises How to Buy Crypto
Bitcoin Doesn’t Stink – Arizona Will Take It
For some time now legislators in the Grand Canyon State have been thinking how to facilitate residents receiving incomes and profits in cryptocurrency. If bitcoin is good for ordinary citizens and businesses, it should be good enough for the state coffers, local lawmakers have decided. Last week Arizona got closer to accepting cryptos as legal tender for taxation purposes.
Several bills recognizing coins as currencies have been making their way in the State Legislature, as news.bitcoin.com reported. Two of them, SB1091 and SB1145, were aimed at regulating tax payments with digital currency. The SB1091 draft, sponsored by four Republican lawmakers, was endorsed by the Senate on February 8, with a 16 – 13 vote, after passing the Finance Committee in January. If the bill is adopted by the House, Arizona will become the first U.S. state to accept taxes in cryptocurrency in just a couple of years. The new law states:
A taxpayer may pay their income tax liability using a payment gateway, such as bitcoin, litecoin or any other recognized cryptocurrency, using electronic peer-to-peer systems.
It then clarifies that the Department of Revenue “shall convert cryptocurrency payments to United States Dollars at the prevailing rate after receipt and shall credit the taxpayer’s account with the converted dollar amount actually received, less any fees or costs incurred for conversion”. A similar bill was voted down in New Hampshire two years ago with concerns that the state would have to bear responsibility for converting the cryptos on volatile markets. Its sponsor, NH State Representative Eric Schleien (R), explained that there would be no cost and no risk to the state, as conversion would be automatic.
Another draft law, HB2601, is expected to regulate crowdfunding through initial coin offerings in Arizona. Its first reading in the House of Representatives is scheduled for June 2, 2018, and the second reading should take place on July 2. It is sponsored by Representative Jeff Weninger (R) who is also among the authors of the tax amendments. Recently, he told Fox that state legislators want to “send a signal to everyone in the United States that Arizona is going to be the place to be for digital currency technology”.
Others Have Taken the Same Road
Tennessee is another state that may soon legalize cryptocurrencies and crypto payments. A proposal to do that has come with a bill that would officially recognize cryptocurrency financial transactions and smart contracts in the state. It would also protect ownership rights of information secured on blockchain networks.
We are not just competing with other states in this space, we are competing with the whole world.
That’s what Tennessee House Representative Jason Powell (D) said after a presentation on blockchain technology last month. The Nashville lawmaker also called for adopting a “meaningful legislation” in the Volunteer State, as reported by The Tennessean. “It is really important to say that Tennessee is supportive of this technology and we want to be a leader in this innovation”, Powell added. Local authorities have already indicated that money transmitter licenses will not be required to trade cryptocurrencies in the state.
Wyoming may also become a crypto-friendly jurisdiction and is already taking steps to
According to bill 0070, “a person who develops, sells or facilitates the exchange of an open blockchain token is not subject to specified securities laws”, if the token can be exchanged for goods and services. The legislation exempts exchanges from regulations applicable to brokers and dealers. Exemptions for cryptocurrency traders and transactions are also included in a draft to amend the Money Transmitter Act (0019).
Kansas and New Hampshire are two other states that have passed legislation with crypto-related exempts in their money transmitter regulations. In Texas companies are not licensed when offering custodial exchange services to in-state customers, and Montana has no applicable money transmission laws. Authorities in Nevada have promised to create favorable conditions for startups working with blockchain technologies. Most other states have yet to adopt their regulatory frameworks.
Do you think that positive moves towards legalization in individual states will speed up adoption of cryptocurrencies on federal level in the U.S.? Tell us in the comments section below.
Images courtesy of Shutterstock.
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PR: World Blockchain Forum Brings Global Blockchain Elite to Dubai
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Dubai, UAE
Following the historic response to sister event The North American Bitcoin Conference, held in Miami earlier this year, Keynote has released details of their World Blockchain Forum in Dubai, 16th and 17th April.
Known as a global centre for innovation and investment opportunity, Dubai provides an inspirational backdrop for the 3rd annual World Blockchain Forum. Visionary leaders, economic pioneers and enterprising investors from around the world will come together for one of the most exclusive events on the global blockchain calendar.
As the longest-running crypto-technology conference in Dubai, WBF will delve into the innovative possibilities of blockchain technology, the impact of cryptocurrencies on global financial markets and the shifting landscape of ICOs.
With more than 500 Bitcoin and blockchain innovators and investors expected to attend, WBF – Dubai builds on the success of similar events in London, Los Angeles and Chicago as part of the World Blockchain Forum. The two-day event focuses on the future of finance and investment, successful past and future ICOs, regulation & governance, and considers how decentralization continues to disrupt the banking sector.
“We are thrilled to host another meeting of brilliant minds in the heart of the UAE and look forward to welcoming leaders of the crypto community from around the globe. Since 2015 we have been committed to bringing more companies and dedicating more resources to the UAE, to bring His Highness Sheikh Hamdan’s blockchain strategy and vision to life,” said Moe Levin, Founder and CEO of Keynote.
World Blockchain Forum Program Details
Held at the stunning Madinat Jumeirah overlooking the Gulf, this year’s internationally-acclaimed event speakers look at the ways in which vanguards, executives, and entrepreneurs can innovate the future of a new world economy.
Past WBF Speakers include:
Vitalik Buterin – Co-founder, Ethereum
H.E. DR. Aisha Bin Bishr – Director General at Smart Dubai
Patrick Byrne – CEO, Overstock & t0
Star Xu, CEO – OKCoin
Roger Ver – CEO, Bitcoin.com
Eva Kaili – Greece, Member of European Parliament
Charlie Shrem – Bitcoin Pioneer
Gabriel Abed – Founder, Bitt
Ola Oudin – CEO, BitOasis
Gabriel Kurman – Co-founder, RSK Labs
Ryan Taylor- CEO, Dash Core
Jason King – Co-founder, Academy
Moe Levin – Founder, Keynote
Ruslan Gavrilyuk – Co-founder, Taas.fund
For a full list of speakers visit: https://dubai.keynote.ae/speakers/
Tickets can be purchased at: dubai.keynote.ae/tickets/
About Keynote
Keynote was launched in 2012 by blockchain strategist Moe Levin. For further information and details about Keynote and the WBF – Dubai event, visit dubai.keynote.ae
For media inquiries, please contact Amandah Hendricks, Keynote’s Chief of Communications at [email protected]
Contact Email Address
[email protected]
Supporting Link
dubai.keynote.ae
This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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