The ending of this article is a bit confusing to me.
Isn't that obvious that people count out a possible hyperinflation when talking about the future Bitcoin price? Who needs 30k USD for 1 BTC in times when USD is devalued and you can actually buy only 3k USD(of December 2017 buying capacity) worth of goods and services?
So, when John McAfee is stating that Bitcoin’s value may reach $1 million by 2020, and, at the same time, is saying that maybe a million dollars in 2020 "may only buy you a toothpick", it doesn't make much of a sense.
Quote
However, he[ John McAfee] also mentioned that the actual value of this sum of money can be drastically affected by fiat currency issues, including hyperinflation.
Isn't that obvious that people count out a possible hyperinflation when talking about the future Bitcoin price? Who needs 30k USD for 1 BTC in times when USD is devalued and you can actually buy only 3k USD(of December 2017 buying capacity) worth of goods and services?
So, when John McAfee is stating that Bitcoin’s value may reach $1 million by 2020, and, at the same time, is saying that maybe a million dollars in 2020 "may only buy you a toothpick", it doesn't make much of a sense.
Right. That actually reminds me of how people were hyping up that Bitcoin reached all time high levels in Turkey, while most of the noobs don't realize that the price hasn't actually gone up, but adjusted itself to match the US dollar equivalent.
Similarly, USDT lost a considerable amount of its value which inflated the prices of coins prices against USDT, which got people hyped up, and they failed to understand that the price hasn't gone up at all. It was yet again nothing more than an adjustment to levels to match the US dollar equivalent.
Banks and the MasterCards of this world screwing people over, that signals Bitcoin's usefulness and results in worthwhile price increases, not currencies losing value which makes Bitcoin increase as well, but without a gain in purchasing power.
