Topic: What do people think about Mcafee statement? (Read 786 times)

We are all optimistic when it comes to bitcoins, the value of bitcoin will reah 500k usd, but i think the timespan is too short, if within thr next 3 years the value of bitcoin hits that high, it only means that a lot of countries had already opened their doors to bitcoin, and the world is close in getting rid of fiat, in which i.think it will take a long time for people to accept, since most of the governing bodies are in favor with the old ideology of money, which is it cannot be decentralized. I think we could wait, until millenials or gen x, had taken over the positions of baby boomers today.

In my own understanding ,mcafee have their own analysis and computation about what happening of bitcoin price 3years from now,and we respect that computation even in a short period of time,but that only there basis,they did not see the whole chart of digital currency,everythings will have changes everyday,because some other circumstances.maybe thats prediction either right or wrong the important is bitcoin is still there moving forward.

Bitcoin may really reach that amount but 3 years is a very short period of time for it. Maybe he made his computation based on the 700% increase in this years price. He considered that the coin will have the same increase for the next two years.

He is just trying to make headlines that is all, even the most enthusiastic person about bitcoin cannot believe that is going to happen, bitcoin is growing very rapidly but it is not growing at a speed that will allow it to reach that price in that time frame, so read the article and be positive about the future of bitcoin but do not deceive yourself thinking that bitcoin has any chance if achieving that price any time soon.

If you read the second part of the article, you will see that the whole thing was just a publicity stunt to gain the attention on the new McAfee coin (MCF). I will not say it's impossible but it is highly unlikely.

hmm, where to begin...

Bitcoin went to all time higher before Mt.Gox crash and then took long time to recover...yes. so, whats your point?? That doesn't have anything to do with what is happening now. No idea why you brought that up unless you are predicting the hack of several of the biggest exchanges and the loss of hundreds of millions of dollars is about to occur again. That's quite the prediction hahaha.

Institutional investors...maybe you haven't seen the news about the two largest options exchanges in the world setting up bitcoin futures in the next few months. When I said they are about to start getting in I meant it. They are actually about to start getting in! This ain't talk, it is starting in the next two months with the CME and within a couple months later with the CBOE.

And there are more than enough people in bitcoin already? uhh what?? In 1995 were you saying there are more than enough people using the internet? In 2005 were you saying there are more than enough people using Facebook? Sounds like for some bizarre reason you just don't want anyone else to use bitcoin, that's literally the only way your prediction of a long term downtrend could happen.

Why are you stuck on this idea that bitcoin has only been rising because of the fork?? As I said, it's been going up at a rapid rate all year, only the past couple weeks has been because of the fork, and only partially because of the fork, it's also because CME announced bitcoin futures starting this year. You really don't understand why people are investing in bitcoin? Why are you even on this forum if you don't understand that? Bitcoin's long term rising price has nothing to do with forks.

Not sure why you are talking about block size, we're talking about price rise. You seem to be stuck on the forks. Anyways, its completely off topic but you seem to be suggesting that bitcoin doesn't need scaling? You do realize the blocks had been full for months leading up to segwit right? And since segwit has only a small adoption right now the blocks are still pretty full. More scaling will be desperately needed in the near future. But again, don't know why you even wrote a paragraph about this it is off topic.

Of course you wouldn't call it a bizarre opinion, it's your opinion! But that doesn't mean it isn't. Really, multiple times you've lived through this scenario you predict where the price will fall for years and then finally come back up? Cuz it's only happened once in the history of bitcoin. So I know that's a lie. And that once was because of Mt.Gox. Though you are apparently predicting another Mt.Gox. So your prediction seems to be based on you predicting hacks of the largest exchanges about to occur on the level of Mt.Gox, plus you just not thinking anyone else should be allowed to buy bitcoin.

So your prediction is not based in reality and is just your strange desire to not have anyone else be able to buy bitcoin. Well, you are gonna be quite surprised I guess when lots and lots of new people keep buying bitcoin!

Influence from seats of power only has that much effect when used sparingly. The fewer instances people use to say things, the greater their effect. Guys like McAfee have something to say all the time, often contradicting himself at intervals. He's about to launch his own ICO for his own crypto. Of course he's got to be insanely bullish to help nail down the momentum he needs for success.

@ladydark You're going to get a huge headache with no available treatment if you think the words of CEOs and people with positions of power cannot be left unaddressed. History is littered with a growing pile of statements from presidents and CEOs. Take everything with a grain of salt, enjoy the ride and make your own assumptions, come to your own conclusions.

Why not? It is not impossible to achieve for Bitcoin. In this year, Bitcoin price already rose multiple times and still rising. If this price increase will continue for three years, it is not impossible for Bitcoin price to be that high. Let just hope and pray that it will happen so that each one of us will be very happy.

We are not talking about $50k here it is $500k and that is more than yearly income of many people to reach that price it can take years unless the supply has reached its maximum point. As many said this might just be another publicity stunt to promote his upcoming ico.

I don't think there is anything special in his ico it seems like every other ico which exist or has been funded it might raise more because of the companies reach ans reputation but other than that i couldn't find anything special about it.

Bitcoin went to all time highs and crashed before due to MTGOX and it took a long time to get back to where it is now in terms of price.

 Institutional investors "are about to start getting in" has been said for years, there are more than enough people "in bitcoin" right now.

The price of things don't continually go up for no reason, the forks don't really add anything of value beyond splitting coins at this point. We see how many transactions happen and 1MB and 2MB will handle it and have handled it for years already(at 1MB). So technically, while it may be nice to have segwit reduce size and add in 2MB blocks to handle more transactions, the transactions that are being upgraded for having more capacity are not in the short term. They are to take place for a few years from now.

I wouldn't call it a bizzare opinion, I have already lived through this exact scenario multiple times of "price is rising buy time and hold". Sure the price will go up years from now and be a lot higher... In the short term it shouldn't as the demand isn't that to use Bitcoin for Bitcoin purposes, the demand is high right now because of splitting coins and getting free money from Segwit2x coins, a big difference.

Since he is one of the respected personality when it comes to bitcoin and cryptocurrency generally, He will not just say for saying sake. It is a good news for bitcoin holders.

I just wish more influencers will tell this. The price for BTC grow thanks to people like him and if they will continue to do that - I'll become a dollar millionaire in 3 years - which is ok for me

That's a bizarre opinion. Price has been rising rapidly all year. What does that have to do with the fork? Institutional investors are about to start getting in, which means the money that has been put in so far is gonna look tiny compared to whats coming. Yes absolutely the incentive is FOMO because more and more people are getting that this is a rocketship that is only just taking off, not sure why you think people will just decide they don't want to be on board for the ride.

I actually impressed with his optimism that bitcoin could reach $500,000 in three years, but I also can't resist that infact in the cryptocurrencies world everything can happen, even the bitcoin price could possibly reach above $100,000 overnight, It's kinda make sense regarding his statement.
It also seem that he's proving his statement with some reasons including the math he did. Not going to deny it, it's possible.

I like what he said but he is nuttier than a fruitcake, a true tinfoil hat wearing paranoid bat crap crazy individual.    Notice I never said he was stupid, just crazy.    I hope he is correct, personally I  think projections are a giant waste of time.   Trying to predict and model off other financial instruments just doesnt cut it; he could be off by decades or never.  Like the dollar, bitcoin has no innate value other than what we give it.  You could have something new come along tomorrow and replace cryptocurriencies because people are fickle.   Its only worth what someone else is willing to pay for it and I hope they continue to buy.

John McAfee, a cyber security expert has made a bold state regarding bitcoin, saying that each bitcoin will be worth $500,000 in three years time. As McAfee knows inside and outside of digital currency tool, his statement compelled many people think about bitcoins.
It will not touch $500 but will hit $100.
It is possible, If the whole world stated using bitcoins in their day to day transactions, but current sudden rise in price is making it difficult. $7000 how a common man afford this currency.
Its decentralised nature and limited supply will make it happen, but it will lose its status as currency & will become only a price Tag.

i cant believe this... but in the crypto world is everything possible i thing. like the thought a bitcoin can cost 500k.

to be listen on someone is the attitude of a good person, but to follow on his telling you, its up to you, we all witness the success of this bitcoin, year after years, bitcoin proves it self on to us (bitcoin holders) that this bitcoin will grow more farther than what it is before, so meaning the price of $500k is not possible to reach/hits soon, bitcoin is more better and getting more bigger day by day, so its no doubt that McAfee prediction will soon to be happen.

Why are people always delusional about the bitcoin value can be achieved? Do not get too trusting in bitcoin because no one is sure to tell you that it will last forever.

I don't think bitcoin will go much higher for awhile after this fork.

There really isn't much incentive for people to buy more of it after the fork short term. What is the thing that will escalate bitcoin into being worth more? More adoption hasn't really happened in many years and that is still slowly chugging along. If anything, the price should go down because the only real thing driving bitcoin price up lately is FOMO(fear of missing out) so a lot of new money is being thrown at it.

That money is going to vanish after this fork because the price will drop as the coins battle eachother for hash power.