BTC will hit $1M on 2020 - John McAfee - page 5.

Gaff

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Quote from: cabron on May 29, 2019, 04:07:47 AM

And so the reason why his security firm investigate all those mixers and suddenly shutdown right?

$1M isn't realistic we know that. But it can be worth more than $20k by 2021. You can also imagine how much your altcoins price would be when BTC got that high already. What do you think could be the reason for its price to go $1M?

It sounds funny to hear expecting too much on that value, and I agree it isn't realistic because it was just a mere speculations. The words coming from our mouth has no limitations, just like our dreams in life it takes no boundaries. John McAfee was just making his dreams realistic through the people who would rather believe or listen to him. Well, that's a good motivations instead of thinking all possibilities into negative aspects. Nobody knows where that price of bitcoin will able to reach, so if it's impossible there's nothing wrong to hope for any possible remarks that it will be meet at certain level. But for now, I think we're far from that and maybe it will took more decades before it happens.

WinslowIII

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Quote from: adaseb on May 29, 2019, 03:12:14 AM

Its easy for bitcoin to go from $0.10 to $1.00 and then to $10, then to $100, then to $1000, then go $10000. However eventually the market cap will have to be enormously huge for it to reach $100,000 or $1,000,000.

Basically it means that if the currently trend is accurate then 100x more users will have to use Bitcoin. Right now there is almost 1 million active BTC addresses, so assume that everybody keeps their BTC in their 1 wallet and not on an exchange.

For it to reach $1,000,000 and stay there we would need 100,000,000 active users for BTC. Given how technologically challenging it is, I don't see that happening in 1.5 years. Maybe in 15 years however if the security factor is taken care of and its more user friendly.

Your logic is totally flawed. Market caps are not linearly correlated with usage or number of users. All it takes is a compelling reason for more people to buy than there are for sale and the price will rise until this situation corrects itself. By the time a bitcoin is approaching $1m, this will surely signal the collapse of the fiat system and holding bitcoin at that point makes more sense. This would be a truly desperate situation for the rich who have ignored bitcoin previously who now see the writing on the wall. Do the math:

-36 million millionaires in the world. 7 billion people.
-After subtracting lost bitcoins and those held by those with no intention of selling them for fiat, I believe there are far fewer than 10m potentially for sale. At any point in time only a fraction of those are on exchanges for sale.

Mcafee is basing his prediction on the ever increasing inflation of fiat due to the out of control debt crisis and the out of control printing of fiat to avoid collapse. I think he's using sound logic but I also think his timing is off, 2020 is too soon - but that's just my opinion, maybe he will end up being right after all.

fabiorem

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Quote from: The Sceptical Chymist on May 29, 2019, 02:50:43 PM

Quote from: darklus123 on May 29, 2019, 12:59:33 AM

We can't deny tho the fact that "Luka Magnotta" ( A self proclaimed time traveler) have predicted bitcoin price realistically except for the 2021 expected prediction.

What? I'll admit I only skimmed the OP here, but that guy (unless there's another dude with the same name) is in prison in Canada for unspeakable crimes. And I'm sure he doesn't own any bitcoin in the hoosegow.

Now, let me ask all of you: do you seriously want bitcoin to be worth $1 million next year? Think about how insane the price curve would have to be for that to happen. You would have to be as criminally insane as Luka Magnotta to think that we wouldn't be in a bubble at that point (though you wouldn't get locked up for it). I don't want that. I do want BTC to be at $1 million at some point, but not next year.

I hate these crazy predictions. They remind me of that stock analyst who called a $400 price on AOL stock back in 1999 or so, which was off the charts for AOL back then....and then AOL actually did hit that price. After that, history speaks for itself.

I think he was talking about John Titor, but in his timeline he was called Luka Magnotta. You know, Mandela Effect...

Yaunfitda

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What makes it funnier though is the way he believes on that reddit post, specially from a guy who said that he is a time traveler. Grin

I mean if you are in the right frame of mind, would you honestly believed on that fairy tale? Well if the price hits $1 million then good, but saying that someone predicted it because he travels across time is absurd.

The Sceptical Chymist

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Quote from: darklus123 on May 29, 2019, 12:59:33 AM

We can't deny tho the fact that "Luka Magnotta" ( A self proclaimed time traveler) have predicted bitcoin price realistically except for the 2021 expected prediction.

What? I'll admit I only skimmed the OP here, but that guy (unless there's another dude with the same name) is in prison in Canada for unspeakable crimes. And I'm sure he doesn't own any bitcoin in the hoosegow.

Now, let me ask all of you: do you seriously want bitcoin to be worth $1 million next year? Think about how insane the price curve would have to be for that to happen. You would have to be as criminally insane as Luka Magnotta to think that we wouldn't be in a bubble at that point (though you wouldn't get locked up for it). I don't want that. I do want BTC to be at $1 million at some point, but not next year.

I hate these crazy predictions. They remind me of that stock analyst who called a $400 price on AOL stock back in 1999 or so, which was off the charts for AOL back then....and then AOL actually did hit that price. After that, history speaks for itself.

fabiorem

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Netnox

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I have been a member of this forum ever since 2012. And during this duration, John McAfee had made such outrageous claims multiple times (if you check the old threads, then you'll be able to find some). And none of his past predictions ever got realized. I don't think that we should give any importance to this guy anymore. Why can't we just consider him as a nuisance element and ignore him?

Adriano2010

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Well most of people will want to have that high price and but i think we are still far away from that and 1 mil$ will be reach maybe after more years, maybe on 2022, but next year i think is possible a new ATH.

Jgod

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seems like mcafee has big stakes in bitcoin, to make outrageous statements like this.
pretty irresponsible and selfish in my opinion, he just wants uninformed people to see his comments and jump on the bandwagon.
i'm all for new people adopting and using crypto, but not like this.

tukagero

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$1M price of bitcoin in 2020 is impossible, bitcoin is only @8700$ at the moment and it needs to pump +5,000$ everday just to hit $1M by next year. Mcafee is out of his mind he said it.

cabron

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And so the reason why his security firm investigate all those mixers and suddenly shutdown right?

$1M isn't realistic we know that. But it can be worth more than $20k by 2021. You can also imagine how much your altcoins price would be when BTC got that high already. What do you think could be the reason for its price to go $1M?

adaseb

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Its easy for bitcoin to go from $0.10 to $1.00 and then to $10, then to $100, then to $1000, then go $10000. However eventually the market cap will have to be enormously huge for it to reach $100,000 or $1,000,000.

Basically it means that if the currently trend is accurate then 100x more users will have to use Bitcoin. Right now there is almost 1 million active BTC addresses, so assume that everybody keeps their BTC in their 1 wallet and not on an exchange.

For it to reach $1,000,000 and stay there we would need 100,000,000 active users for BTC. Given how technologically challenging it is, I don't see that happening in 1.5 years. Maybe in 15 years however if the security factor is taken care of and its more user friendly.

YOSHIE

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Of course, everyone is free to talk about the price of Bitcoin, it's up to him to say $ 1 million, 2 or 3 million this year, it's up to everyone's opinion.
What is clear is that this goes back to each other, Buy or sell.

* What is the percentage%, well invest in Bitcoin.
To achieve this, $ 1 million.

Bitcoin is not just talking, proving to the world, that Bitcoin can be a future investment for your future.

mk4

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Does anyone really still listens to McAfee after he shilled Verge(XVG) and a lot of shitcoins in the past?

Quote from: Evgenklm on May 29, 2019, 01:17:31 AM

I respect this man for a good antivirus,

I really wouldn't put McAfee and "good antivirus" in the same sentence.. How To Uninstall McAfee Antivirus

stadus

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He wants us to be greedy, he is just riding the situation where bitcoin is bullish.
Thinking that price would go as high as $1 million, it might stop us from selling when our current target will appear, hopefully
we will be smarter this time as some of us already made a big mistake in the past for not selling at the right time.

davis196

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Quote

10 dollar in 2012, to 100 dollar in 2013. From now on, there's a slight slowdown, as the value increased by a factor ten every two years, to 1,000 dollar in 2015, to 10,000 in 2017, 100,000 in 2019, and 1,000,000 in 2021

Haha,pretty stupid logic.I wonder if bitcoin really follows that pattern,will it reach 1billion USD by 2025.
There's a new bitcoin bull run and this clown(John McAfee) became relevant again. Grin

CryptoBry

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Quote from: Evgenklm on May 29, 2019, 01:17:31 AM

I respect this man for a good antivirus, but his constant speculation about the price of bitcoin does not inspire confidence, tired of hearing from him new predictions.

We in the bitcoin community do welcome people who are very positive about the growth prospect of the coin and we have many respected people already in our midst. Now, in the case of John McAfee, I think that he is becoming too much. He is too much that digesting his views, opinions, predictions and ideas is getting harder for our stomach to tackle. Though, of course, I would not have any problem if his latest prediction can come true...who knows that Crypto Time Traveler can be telling us that truth, right? I am then wondering, is he not that time traveler he is talking about?

jossiel

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I thought he has Mathematical basis except for that basis he's been depending on with the time traveler guy. Let's just say about early 2021 so we still have 2 years to go before seeing this great prediction he made with a bet of eating his tool.

The very basis that we can believe on with this time traveler guy is by this year. He didn't post something about 2018. But he did mentioned that by this year we will see 100k for which I'm actually having doubts to happen because it's too soon to happen for this year.

leea-1334

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Quote from: Evgenklm on May 29, 2019, 01:17:31 AM

I respect this man for a good antivirus, but his constant speculation about the price of bitcoin does not inspire confidence, tired of hearing from him new predictions.

This is as short and sweet as anyone can respectfully say about a man like John mcafee. Who among us can say we never heard of his name or his software? Who can even say we never used his antivirus? Good for him and thank you.

But he really should know he hurts Bitcoin more than he helps with his comments and his actions.

STT

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The exchange rate from New Roubles to old Russian Rouble is 10,000 to one and so there was great reduction in the value of that currency. This drastic failure happened in the late nineties due to the USSR regime being unable to maintain a changing country. If a prediction of the $1m is going to happen, it will require a similar kind of change in the world. Its not that 1 million is impossible but it requires alot more then a fixed vision of the world, so much change is unlikely on such a short time frame.

Believing BTC goes up so much and the world has not otherwise changed is also a foolish hope. That BTC exists at all and circulates like this is part of a wider global story and development in currency, its not a solo traveller its a part of a series of events and the world must change as BTC travels through its path to greater use and a higher price. Thats the more detailed nuanced story that must happen, it wont fit into a twitter post and nobody can predict it as its too much for just one vision

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