BTC will hit $1M on 2020 - John McAfee

WinslowIII

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Quote from: STT on June 19, 2019, 06:35:32 PM

Theres a difference from invention and development and usage. Just being an inventor sadly is not always a path to riches because you have to part be of the industry which gains from it. Im not sure having 1 BTC token is a path to riches people imagine it will be, its usually about the cycle of money not the plain asset. Wider industry believes BTC is a demonstration not the final form of this technology. Even if blockchain is essential in 20 years it might not be giving BTC holders any part of that.

Its worth looking at famous inventions and the eventual most profitable iteration of that technology. Definitely that could apply when BTC isnt copyrighted. I have zero belief in things like XRP but I do think there will be some part of industry which does the most to serve the most people, they are the ones who get the vast majority of profit from bringing crypto to the pockets of even people who have no ability to comprehend it.
There still is no remote control equivalent for BTC, it really has to be so easy people can have it without thinking in order to propagate I think or at least thats my view maybe some think its already easy enough. This $1m target isnt coming with zero advance from here, the world requires more then price

A teeny tiny % of the world's pop holds/uses any amount of bitcoin today. As adoption rates rise (and they are steadily rising since 2009 so why would this trend stop?) the price will rise. This will not be a linear rise, it will be an exponential rise. Why? because a huge amount of coins have either been lost or are being held by whales that aren't selling for fiat - ever. This is simple economics, you don't need an economics degree to understand that $1m/btc is not impossible, it is inevitable if bitcoin has long term success. It's either going to do it or totally fail, there isn't any in between with it due to the ever decreasing amount of new coins made and the steady increase of adoption. Satoshi said it himself - bitcoin will either be worth a hell of a lot in the future of nothing.

pealr12

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Im still excited on this prediction that was announce by john mcafee were half way till 2020 and theres no huge movement on the price of btc. But who knows maybe a time traveller tells mcafee that bitcoin will hit $1m by 2020.

figmentofmyass

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Quote from: STT on June 19, 2019, 06:35:32 PM

Theres a difference from invention and development and usage. Just being an inventor sadly is not always a path to riches because you have to part be of the industry which gains from it. Im not sure having 1 BTC token is a path to riches people imagine it will be, its usually about the cycle of money not the plain asset. Wider industry believes BTC is a demonstration not the final form of this technology. Even if blockchain is essential in 20 years it might not be giving BTC holders any part of that.

that's the same thing nocoiners have been saying for years now: "blockchain not bitcoin"! maybe so, but this projection is becoming less and less likely everyday. very little meaningful progress has been made in applications of blockchain technology beyond bitcoin's use cases. meanwhile, bitcoin continues to strongly dominate the market and shows no sign of an asset bubble collapse a decade later.

even if there are breakthroughs in other blockchain or distributed ledger technologies, i'm becoming increasingly skeptical of the idea that another cryptocurrency will replace bitcoin for its monetary attributes.

people didn't adopt gold because it's what industry wanted. they adopted it because of universal faith in gold as money, developed over time. that's the course that bitcoin may be on. i wouldn't dismiss it so easily if i were you.

STT

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Theres a difference from invention and development and usage. Just being an inventor sadly is not always a path to riches because you have to part be of the industry which gains from it. Im not sure having 1 BTC token is a path to riches people imagine it will be, its usually about the cycle of money not the plain asset. Wider industry believes BTC is a demonstration not the final form of this technology. Even if blockchain is essential in 20 years it might not be giving BTC holders any part of that.

Its worth looking at famous inventions and the eventual most profitable iteration of that technology. Definitely that could apply when BTC isnt copyrighted. I have zero belief in things like XRP but I do think there will be some part of industry which does the most to serve the most people, they are the ones who get the vast majority of profit from bringing crypto to the pockets of even people who have no ability to comprehend it.
There still is no remote control equivalent for BTC, it really has to be so easy people can have it without thinking in order to propagate I think or at least thats my view maybe some think its already easy enough. This $1m target isnt coming with zero advance from here, the world requires more then price

WinslowIII

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Quote from: figmentofmyass on June 19, 2019, 04:23:44 AM

Quote from: WinslowIII on June 19, 2019, 12:02:50 AM

How many people in the real world have you met who hold any bitcoin? I've met exactly zero people, and I've asked hundreds about it over the years. Not too long ago it was hard to find someone who even heard of it, but even today try to find someone who has any. Think about it. The % of people today who even hold .00000001 btc is TINY.
As far as the stupid fucking argument that bitcoin can easily be replicated, the masses don't put their money into stupid shit they never heard of before. Branding is everything, the infrustructure head start bitcoin has built is untouchable. Shitcoins come and go, nobody gaf about them in the long term - especially the masses.
You turds just keep telling yourself why bitcoin can't hit $1m, and sure as fuck you won't be holding any when it does.

after all we've seen in this market over the years, i'm always amazed at how many old timers continue to talk themselves out of hodling.

it's like "fool me once, shame on you, fool me twice, shame on me." if you lived through the 2013-15 cycle and talked yourself into perpetual skepticism about bitcoin and missed the bottom, that's understandable. but if you then lived through 2017-19 and still don't see the writing on the wall? that's your own damn fault! these people are destined to be poor! Tongue

We are witnessing the greatest invention since the printing press, most just don't know it yet.

figmentofmyass

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Quote from: WinslowIII on June 19, 2019, 12:02:50 AM

How many people in the real world have you met who hold any bitcoin? I've met exactly zero people, and I've asked hundreds about it over the years. Not too long ago it was hard to find someone who even heard of it, but even today try to find someone who has any. Think about it. The % of people today who even hold .00000001 btc is TINY.
As far as the stupid fucking argument that bitcoin can easily be replicated, the masses don't put their money into stupid shit they never heard of before. Branding is everything, the infrustructure head start bitcoin has built is untouchable. Shitcoins come and go, nobody gaf about them in the long term - especially the masses.
You turds just keep telling yourself why bitcoin can't hit $1m, and sure as fuck you won't be holding any when it does.

after all we've seen in this market over the years, i'm always amazed at how many old timers continue to talk themselves out of hodling.

it's like "fool me once, shame on you, fool me twice, shame on me." if you lived through the 2013-15 cycle and talked yourself into perpetual skepticism about bitcoin and missed the bottom, that's understandable. but if you then lived through 2017-19 and still don't see the writing on the wall? that's your own damn fault! these people are destined to be poor! Tongue

WinslowIII

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Quote from: STT on June 18, 2019, 11:45:00 PM

Quote

inevitable

I dont see it as inevitable and the reason Bitcoin is so doubted is from the open source it has. The majority of commentators think the network can be duplicated because of that and it contains nothing unique, which would take away a large amount of the force driving the price from demand vs supply.
We've seen forks attempted which is as close as a duplicate as is possible I think and its failed mostly to draw custom away from the main branch.

Even after that I still dont see a higher price as inevitable, only when there is genuine need and vast utility offered from involvement in Bitcoin then we see the widescale demand vs the limited millions of BTC available. We need far higher population for greater price growth to occur is my reckoning. A large part of price movement now relys on weakness deliberately placed on conventional currency in order to allow liquidity and support to outstanding debt in the trillions. If any default situation or alteration to that easy policy occurs I wonder how Bitcoin or cutting edge development might suffer from harder monetary standards levied globally

How many people in the real world have you met who hold any bitcoin? I've met exactly zero people, and I've asked hundreds about it over the years. Not too long ago it was hard to find someone who even heard of it, but even today try to find someone who has any. Think about it. The % of people today who even hold .00000001 btc is TINY.
As far as the stupid fucking argument that bitcoin can easily be replicated, the masses don't put their money into stupid shit they never heard of before. Branding is everything, the infrustructure head start bitcoin has built is untouchable. Shitcoins come and go, nobody gaf about them in the long term - especially the masses.
You turds just keep telling yourself why bitcoin can't hit $1m, and sure as fuck you won't be holding any when it does.

STT

legendary

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Quote

inevitable

I dont see it as inevitable and the reason Bitcoin is so doubted is from the open source it has. The majority of commentators think the network can be duplicated because of that and it contains nothing unique, which would take away a large amount of the force driving the price from demand vs supply.
We've seen forks attempted which is as close as a duplicate as is possible I think and its failed mostly to draw custom away from the main branch.

Even after that I still dont see a higher price as inevitable, only when there is genuine need and vast utility offered from involvement in Bitcoin then we see the widescale demand vs the limited millions of BTC available. We need far higher population for greater price growth to occur is my reckoning. A large part of price movement now relys on weakness deliberately placed on conventional currency in order to allow liquidity and support to outstanding debt in the trillions. If any default situation or alteration to that easy policy occurs I wonder how Bitcoin or any cutting edge development might suffer from harder monetary standards levied globally

South Park

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Quote from: WinslowIII on June 15, 2019, 07:32:20 PM

$1m target and beyond is inevitable, the opposite of impossible. And it won't be at the expense of a worthless dollar, 1 bitcoin will have approximately today's buying power of $1m and beyond.
The only question is will you still be holding any?

We all know that the price of bitcoin will keep growing, the technology is so good that we know it is inevitable the price will grow, the issue is how fast that will happen, if someone gave that prediction but it gave 30 or 40 years for bitcoin to reach that price then I could think such a prediction has a chance of becoming true, but reaching a price of one million dollars in just 18 months will require bitcoin to grow more than 100x and that kind of growth is impossible to me especially if the dollar maintains its purchasing power.

WinslowIII

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$1m target and beyond is inevitable, the opposite of impossible. And it won't be at the expense of a worthless dollar, 1 bitcoin will have approximately today's buying power of $1m and beyond.
The only question is will you still be holding any?

arpon11

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Quote from: Naida_BR on June 13, 2019, 02:31:05 PM

Quote from: WinslowIII on June 08, 2019, 11:02:55 PM

$1m btc is coming a hell of a lot faster than most of you guys think. The bitcoin price moves way faster compared to the normal asset rises we have to compare it to. And it ain't stopping for shit, it's fueled by the coming collapse of fiat - that's some powerful nuclear shit.

Are you trolling or are you McAfee?
Even if the price move faster than the most other assets, 1m is not a viable target.
I hope you are right, but personally I don't believe that we are going to hit such a target.

The prediction is hard to believe but are we saying it is impossible? I don't think it is impossible because if bitcoin can move in the percentage rate that it moves in 2017, I think $1,000,000 will be achieved before the end of 2020. It might not happen but that do not mean it is impossible. I do believe that bitcoin is going to gain a lot of momentum as we move closer to it halving and that is the point many bull speculator are looking. I will say it might not goes down much but gaining more from now.

STT

legendary

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Quote

This page is for my supporters, not my detractors.

Thats not how economies work, not the successful ones anyway and a good discussion is a trade of ideas with some gain for both parties. I really doubt theres any great insights coming from someone who must block those who disagree. If they spam or obstructive rubbish then sure, a plain argument to disagree is practically proven if you must block it to proceed on.
A proper economy is always where destructive elements occurs, where greed is a given and many other negative factors. If Bitcoin relies on purely positive thoughts its a false system, I really dont believe its a ponzi scheme or anything similar but no defence of any part of crypto should rely on removing those who disagree from the conversation

Lanatsa

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Quote from: samycoin on June 13, 2019, 10:02:02 AM

It's not bad to predict but I think his predictions is crazy to think that bitcoin will be hit that kind of amount in short period of time. Maybe in next few years we reach that price but not now. It takes time for everything so we don't need to be hurry.

Being bullish towards bitcoin isn't bad but if you do it on exaggerated or unrealistic way then you would really sound too dumb on most people.
These kind of prediction is crazy and talking back that he do make such views when btc tends to hit up that ATH of 20k and now telling for 1M/btc on 2020?
Its impossible no matter what angle you are trying to see.Someone's gonna eat his d*ck Cheesy

Naida_BR

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Quote from: WinslowIII on June 08, 2019, 11:02:55 PM

$1m btc is coming a hell of a lot faster than most of you guys think. The bitcoin price moves way faster compared to the normal asset rises we have to compare it to. And it ain't stopping for shit, it's fueled by the coming collapse of fiat - that's some powerful nuclear shit.

Are you trolling or are you McAfee?
Even if the price move faster than the most other assets, 1m is not a viable target.
I hope you are right, but personally I don't believe that we are going to hit such a target.

Slow death

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Quote from: samycoin on June 13, 2019, 10:02:02 AM

It's not bad to predict but I think his predictions is crazy...

it's not just his prediction that it's unimaginable madness, like everything John McAfee does is a big joke to the crypto world, see what he created:

https://mcafeemagic.com

Is a big joke for the crypto world. And now he has decided to block whoever criticizes him:

Quote from: https://twitter.com/officialmcafee/status/1139208415501307910

I have blocked over 100 accounts in the past four days. This page is for my supporters, not my detractors. There are hundreds if pages you may follow if you want to trash me. This is not one of them. What I have to say is for people with open ears, who are looking for truth

Source: https://twitter.com/officialmcafee/status/1139208415501307910

Irviyandi

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Although it is true that anything can happen with Harag on the market, bitcoin can also change prices suddenly, but the prediction is too high I am not sure because there are many who predict that bitcoin will not fall again but in fact the bitcoi slumped some time ago, I did not believe fully with the current prediction

samycoin

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It's not bad to predict but I think his predictions is crazy to think that bitcoin will be hit that kind of amount in short period of time. Maybe in next few years we reach that price but not now. It takes time for everything so we don't need to be hurry.

South Park

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Quote from: fabiorem on June 09, 2019, 01:11:56 AM

Quote from: Herbert2020 on June 09, 2019, 01:05:41 AM

Quote from: WinslowIII on June 08, 2019, 11:02:55 PM

$1m btc is coming a hell of a lot faster than most of you guys think. The bitcoin price moves way faster compared to the normal asset rises we have to compare it to. And it ain't stopping for shit, it's fueled by the coming collapse of fiat - that's some powerful nuclear shit.

of course if you think US dollar is going to lose something like 80% of its current value then yeah it is obvious that bitcoin can reach 1 million US dollar in a very short time, possibly even in a couple of months.
but the speculators who throw $1 million, specially McAfee saying in 2020 do not have that assumption. they say with current US dollar value, bitcoin will be $1 million in such a short time which is nonsense.

Actually, he said the dollar would collapse and lose its value, so that one million would not be what one million is right now. He said that on a interview in YouTube, I dont have the link here.

That makes more sense, since it is going to be impossible for bitcoin to be worth 1 million dollars and buy what that money buys right now, the problem is that prediction leaves the door open for bitcoin to crash in value as well, after all even if bitcoin could be worth 1 million dollars after the dollar collapses it will be for nothing if you can only buy a candy bar with your bitcoin, however if that is what McAfee is expecting to happen then his prediction is still impossible since I do not see the dollar collapsing so fast.

STT

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Quote from: figmentofmyass on June 09, 2019, 12:38:55 AM

Quote from: WinslowIII on June 08, 2019, 11:02:55 PM

$1m btc is coming a hell of a lot faster than most of you guys think. The bitcoin price moves way faster compared to the normal asset rises we have to compare it to. And it ain't stopping for shit, it's fueled by the coming collapse of fiat - that's some powerful nuclear shit.

you're right about fiat currency collapse, but on what timeline i am really not sure. 10-15 years ago i was sure the collapse was imminent. now i've learned the powers that be are quite brilliant at sustaining faith in the system.

i don't think we need faith in fiat money to shatter to drive bitcoin to the moon. it's monetary properties and extreme scarcity alone can manage that. it's an unpopular opinion but i think $1 million is entirely possible in the next bubble.

I think 1m is possible just like I think WW3 is possible, massive failure should never be considered impossible because that invites the scenario to prove otherwise. Every economy thats ever existed had the natural inclination to destroy itself, thats the nature of the world. Every forest has some tendency to burn itself to the ground and start over, natural process (if the protocol continues to be secure) is BTC can go to $1m because its very possible Dollar suffers a melt down.

I dont think any of us should wish for such an event or believe it would be a positive, I really dont think it would. I'd prefer to go with the option where BTC continues to grow every year and genuinely provides utility to the world more then the speculative ticket to apparent riches, one million dollar notes fluttering in the wind is worthless of course.
Watch the footage of streets of Venezuela or Zimbabwe if you dont believe me, it can happen to any of us as humans we are all equal in our capacity for greatness and terrible mistakes.

WinslowIII

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Quote from: STT on June 09, 2019, 06:41:44 PM

Ongoing liabilities for USA and actually many other western governments far exceeds their ability to pay for them. The figure I've heard for this on US debt is 120 trillion in total liabilities, the only likely outcome is that the value of the debt currently owed and also the value of the money is greatly devalued.
This only reflects what has already happened previously also, its not a wild prediction even if unpleasant. Its not more apparent right now as Japan and Europe are doing their best to equally devalue their currencies and so not lose the consumer marketplace of USA. This does not help long term capitalist outlook, it undermines growth with what is effectively bad debt. The most recent and obvious example is the Greek debt but this failure could apply to maybe a dozen 'rich' or least 1st world countries, ie. they are broke or at best insolvent.

McAfee is clearly wrong because he gave a fixed date. For all I know this failed debt scenario could take 50 years, imo it will occur under 20 years and 10 is still sensible but I doubt its very fast as there is great political support and consensus for the modern meta of deficit spending

We don't need to see actual collapse in fiat to see a $1m bitcoin, keep this in mind. Just the threat of collapse can produce enough demand to send the price to that level. I think the bitcoin price itself is an excellent measure for how bad things are - when it crosses $100k there will be a lot of panic in the air.

Topic: BTC will hit $1M on 2020 - John McAfee (Read 1131 times)