John McAfee stated some time back that he would eat his d$ck on national television if Bitcoin did not hit $500,000 by the end of 2020.
I wrote about it back at the time:
https://steemit.com/bitcoin/@jrcornel/bitcoin-to-usd500-000-within-3-years-or-he-ll-eat-his-what
It sounded pretty crazy at the time with bitcoin trading at $2,700 per coin. It sounds a heck of a lot less crazy now.
Well guess what, he isn't backing down from that at all.
In fact he is doubling down on it!
Check this out:
That's right, John McAfee is now saying that if Bitcoin doesn't hit $1,000,000 by the end of 2020, he will eat his d$ck on national television.
Personally I am starting to wonder if this guy just wants to eat his manhood on national tv. ;)
Though he does seem to have some rational behind his predictions.
According to McAfee his change of heart is because in his previous model bitcoin was "only" projected to be at $5,000 by the end of 2017.
Now, with bitcoin trading north of $10,000 at the end of 2017, he has to adjust his numbers and the new model is spitting out $1,000,000 at some point by the end of 2020.
For his sake, and even more so, all of our sakes, I hope this guy is right!
Both because I really don't want to see him do that and also because I would love for cryptocurrencies to make us all very wealthy, but mostly because of that first part.
I do know one thing about Mr. McAfee, I know that he is crazy. It's just not quite clear to me at this point whether he is crazy like a fox or crazy like a loon?
Time will tell.
Stay informed my friends.
Sources:
https://twitter.com/officialmcafee/status/935900326007328768
Image Sources:
https://twitter.com/officialmcafee/status/935900326007328768
https://www.coinbase.com/dashboard
https://seekingalpha.com/article/4062097-ts-latest-acquisition-absolutely-crazy-like-fox
Follow me: @jrcornel
If we all decide that that's what we want, then it will happen. It's up to us all. Do we want the biggest transfer of wealth in history, or don't we? Do we really want to give the finger to the "man", to the governments,to the banks?
It's all on us. If we HODL, and HODL we shall, praise ODIN, we will see one million dollar per Bitcoin and we will all fucking drive Lambos and laugh in the faces of those who did not believe.
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How many High Net Worth Individuals (HNWI) are in the world today
If they all could buy one BTC for $10 million, would that be a fair and acceptable outcome?
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Um, John would you like some salt with that? @pawsdog
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Two years is still a decent amount of time for many changes to occur within the cryptocurrency world. Bitcoin has been trending exponentially upward, but there are always risks involved. With only one month to go in this year, Bitcoin is still trending higher. A lot is going on in the world, how are we all so sure things won't change over the course of two years? For Mr. McAfee to make such a bold claim, as you've mentioned, he either has an ace in the hole, or he is just a "loon". I hope for the well-being of those investing and his manhood, he is more like a "fox".
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As do I :)
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WRONG. BTC has not been going exponential - if you ignore the last week of trading. It has been closer to linear.
If it ever does start to go exponential, like it did in the last week, THEN you have reason to worry. And you have a guarantee that the price rises will stop the exponential trend and prices drop back to earth and resume linear growth best case.
Exponential curves are not sustainable. Linear curves are, within some limits.
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It will be a massively useless store of wealth by then. I can't even imagine what transaction fees will be... do you really think it will be functional?
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Think bigger otage. Think like you are a person with $10 million in assets. Do you care about a $1000 transaction fee that might hit you once a year? or once a month?
BTC wasnt meant for you, if you have less than $10 million. But you can still benefit from it, if you stop thinking small.
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I agree with you if I hung on to 10 BTC until it was 10 million dollars and the blockchain was still able to function as a store of wealth even after mass adoption it would be the best investment ever and fees wouldn't matter at all. Crypto currency dreams give way to a greedy reality. It just feels like a bit of a ponzi scheme when one of the defining values from inception, ease of transaction, becomes no longer valid.
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Who knows. Probably be a ton of forks by then, so it's impossible to know what the tech will be behind it. I wonder if his bet will include all the off shoots of bitcoin as well?
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Yes that is a very valid point the offshoots will add up!
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"Massively Useless" Ya ok....
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As a currency.
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How often do you transact from your "store of wealth"? I assume you must have at least $10 million in gold bullion stockpiled in your private safe.
How often do you transact from that pile of $$? When you do a transaction once a year to get your annual walking around spending money, do you care if it costs you $100?
One of the wealthiest people on the earth is Queen of England. Look at her assets. Do you think that $100 or $1000 transaction fee is even a remote consideration in her mind??
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Proof-of-Work.. https://twitter.com/antifragilistic/status/935941142612402176
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That is awesome! Well done my friend! Let me know if/when he responds :)
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Yeah hopefully he doesn't have to mutilate himself like that and transition in such a savage manor!
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Lol Katelyn Jenner would not approve...
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I'm not sure who is crazier. Jenner or McAfee! LOL
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thats a good news this time.. i always your blog and follow you...if you get any permission, i will want your blog resteemit
.
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Sure. Thank you!
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oh really... waiting a second please...i will resteemit your blog..✌✌✌
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your blog resteemit done....✌✌✌
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I remember the conditions of his dispute))) as he promised to eat something .....
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What a brave bet
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could you even imagine to cut hahaha omg he is such a brave lol and dafuq infront of television
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500k still seems crazy but now he says 1 million!!! I want to believe that he is right
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This is sooooo hilarious! ahahahahahah
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good explanations ...
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seriously 😂😂 spamming ??
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The guy is crazy...he is also very wealthy...he also invested heavily into bitcoin mining....
Overall, when it comes to the cyber world, I have a feeling this guy has a handle on things. He sees the value of crypto. Now does he have the magic touch when it comes to price prediction? Who knows.
You have to like a guy who sticks to his guns.
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your posts always useful for my readers have given upvote to you
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I am amazed with his self confidence.
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surely he will suck everyones d$ck 😂😂
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Lol I hope not...
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actually inside my heart i am also hoping not haha
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Salute to the person, true what he predicted.
Such people are very good at understanding the world of crypto.
Thank you for sharing information.
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It'll happen!
Bitcoin will soar and help destroy the grip that banks have had on humanity for hundreds of years.
This will eventually lead to us outgrowing the need for currency in the first place. Everything that people don't want to do, will be automated sooner than most people realise.
The few jobs that still need doing, probably overseeing, research, and creative type work, will need very few people to do them. Nobody would be forced to do anything, people would want to contribute to and improve their world, the new system that takes cares of everyone.
That is our future and bitcoin is the next step forward from where we are now
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Thanks for the share, I just followed you.I currently don't know what the future holds for BTC but it seems way too bright.The currency is just bullying itself way to the top.
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It's not as great of a prediction as you'd think; namely, if you use the value of a 2017 dollar then $1mm is a lot, but if by 2020 $1mm will only buy you a loaf of bread, then his prediction might be true but is meaningless.
What's important is that McAfee has bet his own dick (which we will just have to ASSUME he still has, or is a meaningful sized meal) on hyperinflation of the dollar, essentially. This is where he runs into some serious problems, bc there's no great evidence the DE-flation of this 1999-->present depression is done yet-- in terms of deflation vs hyperinflation era.
So we think he's still nuts, but if he's right on hyperinflation then $1mm isn't a big deal for Bitcoin.
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Pretty far stretch to imagine that $1 million USD will only buy you a loaf of bread just 3 years from now. Not impossible but also not likely. I get your point though. If the dollar doesn't buy much it's not saying much. We will have a lot of other things to be worrying about if $1 million USD only buys us a loaf of bread in just 3 years time as opposed to what Mr. McAfee will be doing with his anatomy though. ;)
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Maybe he must start taking lessons from the dogs so long!
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you nailed it haha
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John MacAfee is such a Rebel, lol! But in all seriousness, He's not as crazy as some might think. When a Satoshi is 100 Millionth of a Bitcoin, who needs to trade in whole Bitcoins anyway?
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well post i love it thanks for shearing
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Here is hoping crazy like a fox!
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Is this the guy who was in trouble for alleged murders in Belize?
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I remember reading something about how he had a technical analysis target price range of between something like 800k and 1.2 mil in 3 years time (basically 1 mil target), so he was being conservative at the time with the 500k number. Basically this means his real target now is 2 mil and again he's being conservative with the 1 mil mark. Thoughts?
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Something in regards to popular figures - https://steemit.com/crypto/@kinix2/why-the-f-would-you-listen-to-them
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