Topic: BTC will hit $1M on 2020 - John McAfee - page 2. (Read 1200 times)

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

It's not what I think, it's what I know. Research the US debt and quantitative easing, look at charts over time and then study the possible solutions. When you conclude that no solution exists, and that the problem will only get worse, and that this is not a sustainable situation, you will understand my pov.
Mcafee may be weird, but he understands the situation with a clarity that many don't, and I think his prediction is a genuine one. I do think his time frame is too optimistic. They will be able to continue this charade longer than another year or 2, but the house of cards will eventually fall.

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.

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.

John McAfee can only attract the newbies with such statements. Those who are old in this field should know by know that statements by John McAfee have no meanings and mostly these statements are give to get the fame or to manipulate the market in opposite direction.

a very interesting letter from the future, BTC will destroy governments and crime will not be controlled, so we are obliged to replace BTC with a legitimate BSV!

https://www.reddit.com/r/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/

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.

$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.

After all of his predictions, i guess he's a great troll in the crypto world trying to make people believe about of his prediction with swearing. lol
I wonder if he would really gonna eat his own dick since he does tell it on national television.

How many times would this man to stop swearing and giving a nonsensical prediction?

500k is more realistic  lol   the only real chance of accuracy for this is from dollar devaluation as this person below says its quite inevitable at the moment but not at a pace that would make even 500k a realistic proposition.    There would have to be a complete collapse and default by US treasury on debt owed leading to dollar to lose confidence in any backing.



This picture is a good example, the history being in 1929 someone lost their fortune on stock declines.   However he isnt selling the car as cheaply as we think, $100 at this time was near to 5 ounces of gold.   
If we use the open market price now it would be 5x $1,300 or $6,500 which is still a good price for a fine car back then I'm sure.     At that time gold had no market price beyond official government fix to dollar and so every dollar was backed by gold, now we are reverse to that and yet people value the dollar which has no proper backing.

That unknown backing to dollar which can vary from substantial demands by government to pay taxes and so create demand, into the opposite of giant supply and no demand.   Ultimately the government has no use for its own dollars, only issuing them to others.   Without backing from those who take dollars as payment there is nothing to fix dollar to any value.   In this scenario even a wild prediction of 500k or a million for the price of BTC or anything outside or global use could be correct.   Its not likely an event to occur within ten years but anything is possible


https://www.thebalance.com/what-is-the-history-of-the-gold-standard-3306136

He didn't specify when in 2020 that it will hit $1m so if it gets close around 31 Dec 2020 then he will get a lot of respect for his outrageous prediction. He should really have kept it at 500k for a more realistic target

It's only a prediction and no one can tell if bitcoin will be hit that amount of price maybe in the future nut not so near. It's his opinion and all can predict the price but no is totally can be sure about what will be the real pri e in the future.

I watched a documentary on him that divulged his paying Belize teenage girls to shit in his mouth. Given that, maybe he will actually honor his bet if/when he loses. He is one sick dude.

He said it was supposed to be $100k by end of 2018. He was already supposed to eat his <===8   

Where did you get the impression I thought it would come soon? what I said was that it's not impossible. Within 10 years, not next year like Mcafee said. I do expect him to lose all credibility when his prediction doesn't happen and refuses to eat his dick.

If you were aware of the true nature and mechanics of bitcoin, you would be unlikely to say that. 20k won't be here for a while at least until after the next halving. Look at the fundamentals and tell me that $1m bitcoin is possible "soon".

https://www.amsinger.org/sample-analysis

Only clients get up to date information. Of course you can keep investing with emotions and feelings and ignore things like cash flow analysis and asset amounts. Bitcoin is no different than any other financial asset man. Sometimes it is good to buy, sometimes it is good to sell.

Aaron

In a normal world, a $1m bitcoin is impossible, as is a $20k, an $8k or a $1k bitcoin. It's utility isn't what gives it value, it's the surreal dysfunction of the fiat based economies surrounding it that gives it value. When your eyes are truly opened to the unbelievable fucking economic nightmare that surrounds us, $1m bitcoin isn't impossible at all.

true dat

John McAfee is a very good entertainer ! Most of his predictions are nothing but a pure joke. He is a famous guy because of his antivirus service but he is being a dishonest man since 2018! I am not his follower and I have zero percent trust on his prediction. Personally, I think BTC at 1M USD is impossible.

Shouldn't he of eaten his own pen15? He said it was gonna be 100k last year 

He is a fool who should not be listened to.

https://www.amsinger.org/sample-analysis

Understanding financial fundamentals and risk is the only way to go.