Topic: Dare to take such gamble? - page 4. (Read 573 times)

I wouldn't take the bet but I'd be watching the bet whoever takes it. Whether it goes $1M or not, I'd just be happy to witness and see that it has happened.
I've seen too many speculators and popular ones that have never exactly hit the predictions that they've made even with bets. We all know that it has started with *RIP - John McAfee and then the rest follows. But if Balaji really knows what he's saying or this isn't just all about the hype and exposure for bitcoin through this bet then good luck to him and we're all gonna be beneficiaries if it happens in 90 days. Honestly, I've just taken a peek on his Twitter account and there are a lot of insightful things about what's happening in the banks and US markets that he's sharing about.

As you stated that it's a gambling, but from my perspective I did not get it that way, venturing into this kind gambling that means you have to know it too well from my observations, but from other perspective I seems it as scam because I know that this kind of gambling doesn't result out good.

There were tons and tons of people that wanted to take that bet if you read his twitter replies. Whether or not he actually put $2M hasn't been confirmed yet.

This bet doesn't make sense because you can just buy $100K Bitcoin options for much much less. And the opposite side of the better, he can just buy 1 BTC when he takes the bet and he will be hedged perfectly.

He did this to generate interest and make people scared of hyperinflation and get people to sell all their assets and buy bitcoin. He most likely is long spot bitcoin and wants to pump bitcoin and sell in the $30-40K range.

I don't think 3 months is that far but if were too speculate, 3 months may only add $30k or more in the price of BTC but there is no way it can exceed to $100k. So 1 million USD for BTC in 90 days is kinda impossible. If he thinks no one will take the bait, well he was wrong and as we can see in the pic provided by the OP, there is one guy already who gladly take the challenge and they are now looking forward on how they can make this possible.

I bet the guy who promoted this was shaking in fear now and maybe he will announce that he is backing out. Waiting for 90 days and say that it was only just a joke is going to cause him a big trouble.

Expecting Bitcoin to hit $1 million in the next 90 days is hoping too much and stretching one's imagination too far. For me, it will even be a surprise if Bitcoin gets to $200k in the next bull rally to beat its current ATH which is $68k+. I know such FOMO is good for price expectation but that's not the right way to go about it.

That's a one sided and handicapped bet. I said that because we know (or I should think we all know) that price won't ever get there in 90 days. So, why indulge the bet?

I believe that bitcoin will be 1M$ each, but not just in 90 days from now, though, yes the price value of bitcoin is volatile. Which can rise quickly and can also fall quickly. That's why there is still risk in investing here.

       But anyway, that's his prediction and all of us can give a prediction on the value of bitcoin and there's nothing wrong if we do it. Even if what he said happens, everyone who holds bitcoins will win, that's just how easy it is to accept.

There is one possibility that could push US into a massive hyperinflation and the massive dump of US dollar followed by bitcoin price shooting up to the moon (over $1 million). That is if after US regime printed the trillions of dollars to bail out the banks that are collapsing one by one and tried to revive its economy with a high inflation, China strikes hard by dumping the massive amount of bonds they hold effectively burning the US economy to the ground in one swift blow.

Part of me will believe BTC to be $1M actually. Maybe it will not be achieved in 90 days but longer like 10 years or so. It's just too fast that price will discourage people from buying BTC after it hit $500K.

If you watched the news these days about the banking crisis, it's getting worse where some economists are forecasting USD joining the Zimbabwe dollar. And this is besides countries dumping the dollar reserves. If this is all coming up together at once, hyperinflation comes.

I don't know or understand anything about this guy.  With bets in the bitcoin race hitting such a monstrous price in just 90 days, I would first think about the hack of his account.  The current trend is optimistic but most of us understand that bitcoin is not in a bull cycle, meaning that the gains will correct continuously and despite the established market restructuring.  Bitcoin has amazing volatility but mostly I'm suspecting a lie/hack or a joke from him.

I can't believe bitcoin would reach 1 million USD in such a short amount of time, and I can't believe he actually placed that bet either.
I don't know what the purpose of him writing this kind of thing is. is it just a joke? this is not funny. gambling ? he better play on gambling sites. FOMO? very unreasonable.
what is clear is that I'm sure most people who see the writing don't believe in the writing either. and I also believe that he will not give the promised 2 million USD.

I hope he's not as serious as he says he is. Don't take it, he's probably fueling your desire to gamble, $1M is super hard in 90 days.
I don't know how much money has to flow into the market to get $1M worth of bitcoins, that's huge. Then I'll dream of buying a Lambo after that. LOL

The man is free to do so especially if he doesn't know where else to throw his money. Kinda crazy, super crazy even, but I think she's just having fun. No seriously, it's just a pre-April joke.

Am I the only one who is a little infuriated and annoyed when I see so-called influencers and analysts making such extravagant predictions? Not only does it not yield any positive outcome for the community or the market, but it also may frustrate newbies. I don't doubt Bitcoin's capabilities, but claiming something so extreme is completely out of bounds. Anyway, his prediction is certainly not going to happen anytime soon, if at all.

Everyone must have their own analysis, and this includes the person who opened the bet within the 90 days. I'm going to talk about logic only even though it's a gamble. People who can afford to lose that much money, surely he is ready to lose or he can get the money he lost in a short time. As for us, especially me, I can't make 1 bitcoin in a short time, so I'll think again about taking the gamble. I'm just being realistic in responding to things like this, who wouldn't be tempted by that kind of money? but then again, who is ready to lose a lot of money too? I personally am not ready, because I don't have that much income in a short time, unless I have a large income and can collect 1 bitcoin in a short time.

I would bet against that all day long. Anyone would. If you owned any BTC at all this would be free money basically. If the price does go up that high then you’re insanely rich from your holdings, and if it doesn’t then you win a ton of money from someone who let his mouth write a ridiculous check that anybody would cash if given the opportunity to do so.

Such news is nothing but mockery. Where Bitcoin has repeatedly prepared to go to 100K but failed. $1 million in just 90 days is an unimaginable feat. He also bet on it. If this had been a sports match I would have believed that this win could have been fixed. But Bitcoin has no control over anyone. How can set such a big bet?

If I have money I can bet against Balaji on his dare about Bitcoin reaching $1m by 90 days.

Though the bet offered by Medlock is about the US not going to experience or enter hyperinflation.



Balaji take the bet and instead give his term of Bitcoin reaching $1m because of the US hyper inflation.


Besides Medlock Balaji also bet another $1m proving his point of view.


Balaji Srinivasan also stated:

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In my point of view, US may enter hyperinflation but I do not think that Bitcoin will reach $1M  in 90 days, I think that is too early for Bitcoin because the hype of the market isn't fully geared yet.  Balaji may have a greater chance of winning if the bet is done after the Bitcoin halving of 2024.

---

Source:
https://cointelegraph.com/news/former-coinbase-cto-makes-2m-bet-on-bitcoin-s-performance

I would definitely make such a bet (whether the twit dude meant it or not) BUT only in bitcoin not in dollar. Meaning if I had a million dollar worth of bitcoin (that is 36.21BTC with current price) I would put it up only against another 36.21BTC and I'd say price is not going up to $1 million in 90 days.

My reason about the rise is simple, it is impossible to see a 3750% rise in 90 days. The market is too big to see that kind of rise in such a short time. If it were until the end of the year (specifically next winter where the energy crisis is 10 times worse than previous one in the West) then I'd say the chances are a lot higher.

My reason for refusing dollar is that we know dollar is being dumped as more and more countries abandon it and we know that US economy is collapsing slowly as it is evident by the banks that keep going bankrupt. Dollar in my opinion is the most risky currency in the foreseeable future, which is from now till at least next 5 years. $1 million today may not be worth that much in 90 days. Although I also have to say that this doesn't mean I think US will enter "hyper" inflation (as this bet seems to be about), that bet is also silly. Higher inflation for sure but not hyperinflation.

Not to mention that bitcoin for bitcoin is easily done through the 100% secure bitcoin smart contracts inside the immutable bitcoin blockchain without needing to go through a shitcoin specially not a centralized stable shitcoin like USDC.

Balaji is actually famous, I just learned from a youtube video just today that he seems to be an insider in finance. He seems very confident about what is going to happen so that's the thing that made him bet.

But the majority would definitely not agree with what he is saying. It's just too fast that it will happen in 90 days. It hasn't even hit $100K which was supposedly the target in 2021.

I don't think that you understood his tweet correctly. His offer was not for anyone thinking that bitcoin won't reach 1 million and instead it was reply to a guy claiming that he is willing to take $1 million bet that US doesn't enter hyperinflation. Here's his tweet as well https://twitter.com/balajis/status/1636797265317867520


https://twitter.com/jdcmedlock/status/1636480393007489024

You're not the only one we are many here that do not believe that Bitcoin even if the prediction of the dollar's deflation could push the price of Bitcoin to reach $1 million, we are talking of 90 days of always believing the price f Bitcoin could eventually go to $1 million but its a gradual move just like what we've experienced in the past and until now

The one who made the challenge is willing to win or lose based on his status but it's the kind of challenge we here in the Bitcoin community knows how the market move will not create because who among here believes that in 90 days Bitcoin will reach $1 million.