The Metaverse is ‘Fake’ & ‘Does Not Exist’, Says Crypto Personalities

The Metaverse is ‘Fake’ & ‘Does Not Exist’, Says Crypto Personalities

Appearing on Saturday’s episode of the ‘What Bitcoin Did Podcast,’ bitcoin maximalists American HODL and Junseth opined that the metaverse ‘straight up does not exist.’ 

On the podcast hosted by fellow bitcoin maximalist Peter McCormack, American HODL further went on to declare that the whole thing was ‘fake,’ branding those who hold opposing viewpoints as ‘idiots.’

“Me and Junseth, both of us – have both been talking about the fact that the metaverse straight up does not exist. It’s not even a real thing, it’s fake,” said American HODL.

“The thing is on Clubhouse over the last several months I’ve been talking to idiots who have been telling me that essentially the metaverse is a real thing.”


“And they would say things to me like, ‘Not only is the metaverse real, but we’re in the metaverse now.’ And I would say ‘What the fuck does that mean? We’re on an audio app on clubhouse how is that the metaverse?’”

While the Clubhouse audio social media app may not constitute the best argument for the existence of a metaverse, it might also be true that other arguments lie beyond those particular audio bubbles.

Significant time, money and effort is being committed to making virtual reality, reality, with Mark Zuckerberg among its high-profile advocates. After re-branding Facebook to Meta in October last year, Zuckerberg splashed $60 million on ensuring his company retains exclusive rights to the name. That’s a lot of money to spend on the name of a ‘fake’ product.

Zuckerberg’s Meta is not alone. Nvidia is among the other high-profile companies working on the metaverse, while crypto projects including Decentraland and Sandbox are also involved.

Clarifying with some NFT critical confusion

While Junseth and American HODL were happy to dismiss the metaverse as nonsense, American HODL wasn’t quite as prepared to completely rule out simulation theory – the unlikely idea that we are all living in a computer simulation like Neo in the Matrix. 

According to American HODL the chances of this are around 20%. Fellow guest Junseth had some doubts.

“I haven’t really thought about it,” said Junseth. “I tend to think that simulation theory is a nice way for atheists to say they believe in god,” he added.

In the end McCormack attempted to steer the topic back to the metaverse to find out exactly what his fellow bitcoin maximalists believed, and question whether the metaverse could exist at some point in the future.

“I’m more or less bullish on the idea of VR, AR, XR, mixed reality or whatever you want to call it, I’m bullish on that idea,” said American HODL. “I think it’s an interesting idea and I’ve been really bullish for it for a long time. I think that humans are naturally going to want to live in extended versions of their reality or mixed versions of their reality. 

“But the problem with it becomes this version of it that is being sold now is that we’re all in the metaverse, that we’re in an NFT universe and I bought this Bored Ape that is on my t-shirt, and we’re going to a marshmallow concert in Fortnite, and that’s the version of the metaverse [proponents are] aligned with – that version of the metaverse is vaporware and its bullshit.”

For a clarification, it only served to muddy the waters.

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