If that happen that bitcoin hit $1m in year 2020 of course there are some new millionaire and some are losing money because once bitcoin hit $1m just expect the huge dump of it.
Many still hoping for a huge pump of BTC, even there is man new crypto released, but we need to consider that it will take again more advancement before it will reach that amount. 
Topic: What would happen if Bitcoin did hit $1m by mid-2020? (Read 614 times)
If that happen that bitcoin hit $1m in year 2020 of course there are some new millionaire and some are losing money because once bitcoin hit $1m just expect the huge dump of it.
No. There cannot be a huge dump will be possible as more people will be rushing to buy some bitcoins rather than selling down. You cannot expect all the current holders to continue holding when bitcoin prices will be hitting $20k/$50k/$80k/$100k and so on. They will sell at some point for their own reasons. Some other whales and investors may sell to fulfill their dreams. Only less than 10% of current holders will remain same after 2 more years. Out of 10% of holders, 5% will opt for continuing their holding for the target of $10M levels. This means there will be less possibilities for huge dump when prices hitting million dollar levels.Now come to the point of chances of having one million dollar value. It is 110% possible any may happen by 2020 or within 2025. It is possible only due to the new investors and their way of believing into the futures of bitcoins. In my calculation bitcoin may have $20M value by 2030.
If that happen that bitcoin hit $1m in year 2020 of course there are some new millionaire and some are losing money because once bitcoin hit $1m just expect the huge dump of it.
More like the same rinse and repeat process happening all over again like all we had last year. You are very right! Obviously, we will get to see a lot of FOMO kicking in once again during this period, and for those who are here now, and held steadfastly without having doubts about the future will be the ones to start reaping their own by then. It is certain, this is a market that is here to stay and obviously a point in time may come like this, but I am not sure 2020 would be something that we would see the possibility of a $1m. It looks far fetched! 
If that happen that bitcoin hit $1m in year 2020 of course there are some new millionaire and some are losing money because once bitcoin hit $1m just expect the huge dump of it.
Which delta? ETD or Forkdelta? If you mean Fork I think that you were wrong cause only ETD is going to die and there are no traders and investors wanna use ETD to trade anymore cause it's not a safe place to trade so nobody wanna put their cryptocurrency in risk by using this exchange anymore although they can sell every token as they want on this exchange 
Of course we are talking about ETD. Forkdelta in good condition. I do not understand what can be a reference in a decentralized exchange? I use the ETD de lait still and have no problem, tell me why it is not safe? 
DELTA is dead, or better say ETHERDELTA, this exchange is already gone now and the platform was replace with FORKDELTA,
if you will visit this one, it is same feature as ED, but much faster and i think safer now.
This is the better ED and they will not let the old thing happen again.
1M seems a big thing to be reached, still we don't know what happens in the future when there is an increase in demand and decrease in supply as the production through the mining gets halved at certain time interval. To me 2020 is a big year that's been under hard expectation long back itself. With this I strongly say that, a massive growth will happen by 2020 and it won't take it to 1M
I don't think the extent is possible, not even the possibility that bitcoin will hit up to $1m. Look, if bitcoin will hit that price even if the price will hit atleast $500000 this can not be healthy for the community of bitcoin because this will stop to the community to have an access for it and could be the start of the biggest fall of bitcoin and for the investors. But if bitcoin manage to stop the volatility and have a consistent upward, I think this will be great.
Theres a dish called "dick", thats what McAfee will eat in 2021. He will prepare it on the television and will eat it.
For 1 million we need 20% adoption. We currently have less than 0.2%. This cant happen in three years, specially in a highly speculative market, where newbies burn everytime.
Then another Interview will roll out to question the bet about the $1M by the year 2020 speculation then he will say that he did not say that figures of prediction he will not remember a thing about that, even with the 78k prediction by the end of the year he did deny that statement how much more the eating dish of D on the national TV, you are right at the last part they did burn commonly with the weak handed and newbie people wondering to get rich very quickly.For 1 million we need 20% adoption. We currently have less than 0.2%. This cant happen in three years, specially in a highly speculative market, where newbies burn everytime.
That’s more than enough mate so much rise in 3 years can only be possible in one way that is if whole world adopt bitcoin and declare it as global currency and usage if cash become extent and then maybe a chance that price go so much higher and on that time people who are buying today if they will hold till then they will be the richest person of that time price will cross million but not so earlier it will take time.
Bitcoin is actually already a global currency because there are now lots of countries are accepting the use of it. We dont also need to wait for the cash to become extinct in order to see the value of bitcoin to climb up to 1million usd or more because that is totally impossible to happen . cash wont ever be existed because cash is our primary source of payment medium . we cannot buy a crypto without the help of cash or regular money .
and i dont also believe that bitcoin could rich upto 1 million dollar because that is already questionable and probably will cause to turn into a bubble.
Theres a dish called "dick", thats what McAfee will eat in 2021. He will prepare it on the television and will eat it.
For 1 million we need 20% adoption. We currently have less than 0.2%. This cant happen in three years, specially in a highly speculative market, where newbies burn everytime.
Then another Interview will roll out to question the bet about the $1M by the year 2020 speculation then he will say that he did not say that figures of prediction he will not remember a thing about that, even with the 78k prediction by the end of the year he did deny that statement how much more the eating dish of D on the national TV, you are right at the last part they did burn commonly with the weak handed and newbie people wondering to get rich very quickly.For 1 million we need 20% adoption. We currently have less than 0.2%. This cant happen in three years, specially in a highly speculative market, where newbies burn everytime.
That’s more than enough mate so much rise in 3 years can only be possible in one way that is if whole world adopt bitcoin and declare it as global currency and usage if cash become extent and then maybe a chance that price go so much higher and on that time people who are buying today if they will hold till then they will be the richest person of that time price will cross million but not so earlier it will take time.
Well, first of all I don't expect this to be a realistic scenario. It may happen, if given more time than just a mere 2 years since adoption would grow and fiat would depreciate over tho long run, but it seems unlikely that this will happen all in the span of 2 years.
However, if it would happen, to me there are one of two possibilities:
1) Fiat hyperinflation globally causing the price to grow naturally as bitcoin is independent from fiat, and also a decentralised asset
2) Huge bubble in bitcoin markets, with herds of FOMO buyers.
Again, I don't see this happening. But I think that if it does happen, the first possibility is more likely. However, it's important to note that $1 million by then would be worth a small percentage of what it is worth right now.
However, if it would happen, to me there are one of two possibilities:
1) Fiat hyperinflation globally causing the price to grow naturally as bitcoin is independent from fiat, and also a decentralised asset
2) Huge bubble in bitcoin markets, with herds of FOMO buyers.
Again, I don't see this happening. But I think that if it does happen, the first possibility is more likely. However, it's important to note that $1 million by then would be worth a small percentage of what it is worth right now.
Wow! How i wish by that time i had also at least 2 bitcoin, i could be a instant millionaire also 
. And yes i think it will have a big impact to our society by this time, the less fortunate people like me could have a small to get financially independent.
Good luck becoming an instant millionaire in a short period of time . And yes i think it will have a big impact to our society by this time, the less fortunate people like me could have a small to get financially independent.
, first let us see the price of bitcoin reaching the last all time high valuation and then we will think about realistic price valuations before thinking about million dollar valuation, i do not expect the price to reach those valuation in the next ten to twenty years.
It doesn't make sense to me why bitcoin would be worth a million when it won't cost a million to mine it.
Well, how i wish Bitcoin value will reach such height soon so that i will be amount the millionaire in Dollars. Although is may lead to serious inflation in the economy because they will be much in the hand of people in the society which will increase their purchasing power and as such may lead to demand pull inflation in the economy.
Anyway it is an exciting news that some people find fun and alarming for others. At that time many new crypto users will arrive and some workers will retire earlier than their jobs. Maybe.
Theres a dish called "dick", thats what McAfee will eat in 2021. He will prepare it on the television and will eat it.
For 1 million we need 20% adoption. We currently have less than 0.2%. This cant happen in three years, specially in a highly speculative market, where newbies burn everytime.
Then another Interview will roll out to question the bet about the $1M by the year 2020 speculation then he will say that he did not say that figures of prediction he will not remember a thing about that, even with the 78k prediction by the end of the year he did deny that statement how much more the eating dish of D on the national TV, you are right at the last part they did burn commonly with the weak handed and newbie people wondering to get rich very quickly. For 1 million we need 20% adoption. We currently have less than 0.2%. This cant happen in three years, specially in a highly speculative market, where newbies burn everytime.
He said so often that he will not lose this bet!
So I believe what is going to happen is that he will buy himself 1 Bitcoin for $1million! He will probably buy it from a friend or so.
Technically that's not cheating as no rules were made if a private deal will count or not.
So I believe what is going to happen is that he will buy himself 1 Bitcoin for $1million! He will probably buy it from a friend or so.
Technically that's not cheating as no rules were made if a private deal will count or not.
I'm certain he will do that. It will last for a few seconds, he will take a printscreen and then show he didnt lose his bet.
It will not happen because if that happen many people become millionairr or some of them become billionaires and become like a billgates. The highest price of the bitcoin is only $100,000 and maybe it will not happen because bitcoin is in danger because most of the altcoin are better to bitcoin.
Theres a dish called "dick", thats what McAfee will eat in 2021. He will prepare it on the television and will eat it.
For 1 million we need 20% adoption. We currently have less than 0.2%. This cant happen in three years, specially in a highly speculative market, where newbies burn everytime.
For 1 million we need 20% adoption. We currently have less than 0.2%. This cant happen in three years, specially in a highly speculative market, where newbies burn everytime.
He said so often that he will not lose this bet!
So I believe what is going to happen is that he will buy himself 1 Bitcoin for $1million! He will probably buy it from a friend or so.
Technically that's not cheating as no rules were made if a private deal will count or not.
Theres a dish called "dick", thats what McAfee will eat in 2021. He will prepare it on the television and will eat it.
He will just deny having said that, or just try to talk it down in the way he was trolling or trying to be funny. In an interview with Patrick from Valuetainment he claims that he didn't say that in 2018 we would reach $78,000.It was someone else having said that according to McAfee, while in the same interview they show a clip where he actually made that $78,000 prediction. It's nothing more than a joker.
Everyone can watch it here https://youtube.com/watch?v=WBgFGwJA1D0
If you only want to see the part about the $78,000 prediction, then fast forward to 48:10.
BUSTED!
Theres a dish called "dick", thats what McAfee will eat in 2021. He will prepare it on the television and will eat it.
For 1 million we need 20% adoption. We currently have less than 0.2%. This cant happen in three years, specially in a highly speculative market, where newbies burn everytime.
For 1 million we need 20% adoption. We currently have less than 0.2%. This cant happen in three years, specially in a highly speculative market, where newbies burn everytime.
Lol he may be feasting on that dish quite sooner since he predicted it to be in 2020. A more recent statement of his even said it can happen sooner than 2020. Though I see it as you do dude. Newbies comes in big numbers and they affect bitcoin' price heavily once they start panicking.
Theres a dish called "dick", thats what McAfee will eat in 2021. He will prepare it on the television and will eat it.
For 1 million we need 20% adoption. We currently have less than 0.2%. This cant happen in three years, specially in a highly speculative market, where newbies burn everytime.
For 1 million we need 20% adoption. We currently have less than 0.2%. This cant happen in three years, specially in a highly speculative market, where newbies burn everytime.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
Wow! How i wish by that time i had also at least 2 bitcoin, i could be a instant millionaire also (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
. And yes i think it will have a big impact to our society by this time, the less fortunate people like me could have a small to get financially independent. 
Only one thing I know ,all those hodlers will be millionaire instantly. I wish I have some amount on that day when bitcoin hit that price.
https://bitcointalksearch.org/topic/m.37682330Apparently, that is one thing that would be crazy to see as some people may not actually end up believing their eyes and the crypto market by then would have gotten so huge and we the adopters who got in early will be having the best of the day in such scenario. Never worry bro, there is still enough of time before we even get there and the little you can start piling up now, can still amount to something pretty huge tomorrow, as long as you do not give up.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
Nothing much except popping some bottles just to celebrate our success story so far. However, that would really be some pretty crazy moment to look forward to considering the number of the people here so far are also going to end up millionaires in the long run. (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
The impact on the society would only be based on those who are the early adopters and how they end up making use of their new found wealth, so one cannot say categorically if it would have a certain impact or not.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
If that's happen then for sure a lot of millioners were born but I think the goods will stay on its price because bitcoin is not owned by the governments. Fiat will still have it's own value. Hopefully I am also holding some bitcoin when that's happen. (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
what will happen is the pleasure of everyone or the user seeing the price reach its peak, but I do not think that will happen, dude. look, the recent decline. do you think it's potentially good for 2020 later? certainly not, is not it! according to me in the year 2020 the price will be normal and only increased slightly, but at least it will be better. too early to discuss the price will reach $ 1 million during such situations.
yes I agree that will never to happen especially in 2 years later. how can bitcoin hit $ 1m in 2020 whereas to hit 20k again is so hard to bitcoin. the price of bitcoin is not always increase and we should expect with possible value, so we can make the target to sell our bitcoin.
of course there will be many people who own a luxury car and a very grand house. but I'm not sure bitcoin will reach $ 1 million by mid 2020.
Do not over estimate the price of bitcoin, $1millon in 2020 id sort if too much. And surely investors whom are holding bitcoin then if it will ever hit that price will be rich but yet that price is too much cause 2020 is just an additional 2 years from now. You shouldn't take whatever McAfee has to say very serious. He is good at speculating. I think if Bitcoin some day hit $1m it won't stand long in that level as every holder would like to cash out his earnings (As any millionaire would do) and thus the price would decrease almost in time.As usual,media would start talking about it's huge pump (and potentially spread fud as we are used to),at that stage fiat currency would see a big decrease in value too.
But meh,I don't think countries will let Bitcoin go that far,if you know what I mean
It is very unlikely we are going to reach the price of one million anytime soon, if the price reached 40k or 50k people will begin to cash out, so bitcoin will not have a chance to even get close to that price, now that does not mean that the price will not be reached at some point in the distant future but people need to stop dreaming those prices will be reached soon and even if it did that will be a sing that something is terribly wrong with the economy and I will have more things to worry than the price of bitcoin. But meh,I don't think countries will let Bitcoin go that far,if you know what I mean
let me put the question into context for all you dreamers: in order to mine 1 bitcoin in average in the world you need to spend about 5000$ in electricity. In China it's 4000$, Ukraine 1000$, ...
Do you think any kind of "thing" produced for 5000$ can be sold for 1 million $? Even in a short term bubble? Who is the idiot that will spend 1 million dollars instead of just 5000 for 1 btc?
You are welcome. You can stop daydreaming now
Since you wanted to be a smart ass, lets get a clarification on the valuation of paper money, how much does it cost to print paper currency and do you usually convert that to know the intrinsic value of a product and why does everyone brings that up as if the price of bitcoin should be around the price of the coins mined, the valuation depends upon the number of coins in the market and the demand and it is not dependent on the amount of energy used to mine a coin.Do you think any kind of "thing" produced for 5000$ can be sold for 1 million $? Even in a short term bubble? Who is the idiot that will spend 1 million dollars instead of just 5000 for 1 btc?
You are welcome. You can stop daydreaming now
Looking at the market now it is highly unlikely to see those valuations but anything is possible with the price.
If bitcoin really hit $1m by 2020, i'm sure people will invest more on bitcoin and maybe bitcoin will become the next gold. It's seems impossible though, hit $1m by 2020, it means we have 2 more years to reach that which is impossible. The bitcoin price can't even hit 15k-20k again in this year.
Many predictions on prices about bitcoin and when we say if it will hitted to 1m ofcourse many billionaires could experience this. Yes that's the problem it can't even go to $20k so many months to end this year. And we don't know what will happen this year 2018 and onwards. let me put the question into context for all you dreamers: in order to mine 1 bitcoin in average in the world you need to spend about 5000$ in electricity. In China it's 4000$, Ukraine 1000$, ...
Do you think any kind of "thing" produced for 5000$ can be sold for 1 million $? Even in a short term bubble? Who is the idiot that will spend 1 million dollars instead of just 5000 for 1 btc?
You are welcome. You can stop daydreaming now
Since you wanted to be a smart ass, lets get a clarification on the valuation of paper money, how much does it cost to print paper currency and do you usually convert that to know the intrinsic value of a product and why does everyone brings that up as if the price of bitcoin should be around the price of the coins mined, the valuation depends upon the number of coins in the market and the demand and it is not dependent on the amount of energy used to mine a coin.Do you think any kind of "thing" produced for 5000$ can be sold for 1 million $? Even in a short term bubble? Who is the idiot that will spend 1 million dollars instead of just 5000 for 1 btc?
You are welcome. You can stop daydreaming now
Looking at the market now it is highly unlikely to see those valuations but anything is possible with the price.
there is a big difference between paper money and bitcoin. You can't print paper money but you can mine BTC. Dollar bills don't have a production cost only the goverment can make them so it's a moot point.
Not trying to be a smart ass but please enlighten me: why would I but a BTC with a price 10, 100, 1000 times higher then it would cost me to produce one? It's basic market economy. Unless there is a crazy reason that will compel people but buy BTC at a way faster rate then you can produce it, the price has no way to rise....
let me put the question into context for all you dreamers: in order to mine 1 bitcoin in average in the world you need to spend about 5000$ in electricity. In China it's 4000$, Ukraine 1000$, ...
Do you think any kind of "thing" produced for 5000$ can be sold for 1 million $? Even in a short term bubble? Who is the idiot that will spend 1 million dollars instead of just 5000 for 1 btc?
You are welcome. You can stop daydreaming now
Since you wanted to be a smart ass, lets get a clarification on the valuation of paper money, how much does it cost to print paper currency and do you usually convert that to know the intrinsic value of a product and why does everyone brings that up as if the price of bitcoin should be around the price of the coins mined, the valuation depends upon the number of coins in the market and the demand and it is not dependent on the amount of energy used to mine a coin.Do you think any kind of "thing" produced for 5000$ can be sold for 1 million $? Even in a short term bubble? Who is the idiot that will spend 1 million dollars instead of just 5000 for 1 btc?
You are welcome. You can stop daydreaming now
Looking at the market now it is highly unlikely to see those valuations but anything is possible with the price.
Well i don't think anyone holding a significant amount of bitcoins would dare deal with banks anymore if indeed the price goes up to mcafee levels. Though i'm not quite convinced yet how the guy's that confident about btc in such a short amount of time. Of course a lot of people, icluding me, would be extremely happy if that happens and the guy won't need to eat his own manhood, but i don't see how it'll work
Which one, Bitcoin reaching $1,000,000 per coin or John McAfee eating his own penis? I believe he can hire a contortionist. It would be much cheaper than spending billions to pump Bitcoin to the moon. Hahaha. John McAfee will be hiring someone to do something because it is not going to happen anytime soon, the chances are highly unlikely and i give a zero chances to reach anywhere near those valuations in the next ten years, argument case let us suppose that the price will reach those values, it will never change anyone else other than the early investors. 
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
if bitcoin hit $1m by mid-2020,lot of new millionaires, billionaires and maybe even trillionaires will be born.If that happen,it change the entire society.The people have their savings will became the richest person.The people who don't know about crypto currency will badly affect.If they reduce to lower class from upper class,there is no surprise in that.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
if bitcoin hit $1m by mid-2020,lot of new millionaires, billionaires and maybe even trillionaires will be born.If that happen,it change the entire society.The people have their savings will became the richest person.The people who don't know about crypto currency will badly affect.If they reduce to lower class from upper class,there is no surprise in that.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born.
Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class?
Would prices of every day goods rise? Would Fiat currency even be worth anything?
Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
want to say, although whatever you have written it may so ridiculous for some people who dont have proper idea about crytoDo you think this would have a large impact on society? Would this cause nocoiners to become the new low class?
Would prices of every day goods rise? Would Fiat currency even be worth anything?
Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
but it can be happen 2020, if it will happen tomorrow then i am not gonna surprise.
cause already a lot of new millionaires, billionaires and even trillionaires are exist due to the incredibility of bitcoin
and so its verily possible to Would this cause nocoiners to become the new low class and Every thing would be change and so on.
dont want to add more, just lets see what will hapeen
I know Jhon McAfee, someone who love cryptocurrency and he has invited many people jump in to cryptocurrency world, and he always awaken the cryptocurrency user to always hold when the market price of cryptocurrency decreased, especially bitcoin. By the way I am follower Jhon McAfee on twitter.
But I have a bit of a distrust when he have predicted bitcoin prices will touch $1M, something that will be difficult to happen within two years. Regulation is a thing that should be noticed by someone who have investment in cryptocurrency. There is many country which does not have the same gaze of using bitcoin or cryptocurrency as a whole.
But by relying on miracles I am sure many will be millionaires or even billionaires if $ 1M is able to achieve by bitcoin.
But I have a bit of a distrust when he have predicted bitcoin prices will touch $1M, something that will be difficult to happen within two years. Regulation is a thing that should be noticed by someone who have investment in cryptocurrency. There is many country which does not have the same gaze of using bitcoin or cryptocurrency as a whole.
But by relying on miracles I am sure many will be millionaires or even billionaires if $ 1M is able to achieve by bitcoin.
let me put the question into context for all you dreamers: in order to mine 1 bitcoin in average in the world you need to spend about 5000$ in electricity. In China it's 4000$, Ukraine 1000$, ...
Do you think any kind of "thing" produced for 5000$ can be sold for 1 million $? Even in a short term bubble? Who is the idiot that will spend 1 million dollars instead of just 5000 for 1 btc?
You are welcome. You can stop daydreaming now
Do you think any kind of "thing" produced for 5000$ can be sold for 1 million $? Even in a short term bubble? Who is the idiot that will spend 1 million dollars instead of just 5000 for 1 btc?
You are welcome. You can stop daydreaming now
Electricity is not the only cost in mining a Bitcoin. If it were that easy everyone would
just mine their own BTC.
You forgot that the difficulty of mining BTC increases all the time. E.g. years ago you
could successfully mine a block using your own CPU. These days you won´t mine a single block
if you don´t have a data center full of the newest ASICs.
Even if you have a data center full of ASICs (that also cost money) you will run them 24/7 and
not mine a block for days, because the mining market is so competitive.
In a year the average cost of mining a single Bitcoin will probably be 8000 $ or more, because
of the rising difficulty.
I have 2 words for you: mining pool
Even it it costs 8k to mine 1 BTC my point stands. It's never going to be worth much more simply because you have a choice: mine or buy. It's stupid to buy at 1 million when you can mine at 8k.
If bitcoin really hit $1m by 2020, i'm sure people will invest more on bitcoin and maybe bitcoin will become the next gold. It's seems impossible though, hit $1m by 2020, it means we have 2 more years to reach that which is impossible. The bitcoin price can't even hit 15k-20k again in this year.
Many predictions on prices about bitcoin and when we say if it will hitted to 1m ofcourse many billionaires could experience this. Yes that's the problem it can't even go to $20k so many months to end this year. And we don't know what will happen this year 2018 and onwards. 
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
Well this is likely to bring in a whole range of different problems, banks would freeze some accounts based on account activity (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
and knowing crypto supporters are spread out everywhere around the world this wouldn't affect prices of goods and services as people won't be spending their funds immediately and if they/we do most likely this would be for things like real estates, new cars or possibly reinvestment...so not much of a direct impact on society.
Well i don't think anyone holding a significant amount of bitcoins would dare deal with banks anymore if indeed the price goes up to mcafee levels. Though i'm not quite convinced yet how the guy's that confident about btc in such a short amount of time. Of course a lot of people, icluding me, would be extremely happy if that happens and the guy won't need to eat his own manhood, but i don't see how it'll work
Which one, Bitcoin reaching $1,000,000 per coin or John McAfee eating his own penis? I believe he can hire a contortionist. It would be much cheaper than spending billions to pump Bitcoin to the moon. Hahaha.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
Well this is likely to bring in a whole range of different problems, banks would freeze some accounts based on account activity (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
and knowing crypto supporters are spread out everywhere around the world this wouldn't affect prices of goods and services as people won't be spending their funds immediately and if they/we do most likely this would be for things like real estates, new cars or possibly reinvestment...so not much of a direct impact on society.
Well i don't think anyone holding a significant amount of bitcoins would dare deal with banks anymore if indeed the price goes up to mcafee levels. Though i'm not quite convinced yet how the guy's that confident about btc in such a short amount of time. Of course a lot of people, icluding me, would be extremely happy if that happens and the guy won't need to eat his own manhood, but i don't see how it'll work
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
Well this is likely to bring in a whole range of different problems, banks would freeze some accounts based on account activity (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
and knowing crypto supporters are spread out everywhere around the world this wouldn't affect prices of goods and services as people won't be spending their funds immediately and if they/we do most likely this would be for things like real estates, new cars or possibly reinvestment...so not much of a direct impact on society.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
I think if Bitcoin some day hit $1m it won't stand long in that level as every holder would like to cash out his earnings (As any millionaire would do) and thus the price would decrease almost in time.As usual,media would start talking about it's huge pump (and potentially spread fud as we are used to),at that stage fiat currency would see a big decrease in value too.(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
But meh,I don't think countries will let Bitcoin go that far,if you know what I mean
Noo of course not , I've many times told you guys that during the process , you'll sell your Bitcoin not even when it's reach $200k , 10x from current price and I believe there would only few people who stick holding Bitcoin , which means there might only 5 -20 new millionaire , the rest of it regretting to sell Bitcoin too early , it's like a loop.
The truth is that it is very easy to be an armchair general and say that you are going to hold your bitcoins no matter what, but the truth is it is going to be very difficult to hold your coins, each time the price goes up the temptation to sell will be enormous, while many complain about how the early adopters got a huge advantage and got a huge amount of coins the truth is very few of them are still holding all the coins that they held at the beginning they have probably sold the majority or even all their coins already, and anyone still holding his coins is probably doing for reasons other than money. let me put the question into context for all you dreamers: in order to mine 1 bitcoin in average in the world you need to spend about 5000$ in electricity. In China it's 4000$, Ukraine 1000$, ...
Do you think any kind of "thing" produced for 5000$ can be sold for 1 million $? Even in a short term bubble? Who is the idiot that will spend 1 million dollars instead of just 5000 for 1 btc?
You are welcome. You can stop daydreaming now
Do you think any kind of "thing" produced for 5000$ can be sold for 1 million $? Even in a short term bubble? Who is the idiot that will spend 1 million dollars instead of just 5000 for 1 btc?
You are welcome. You can stop daydreaming now
Electricity is not the only cost in mining a Bitcoin. If it were that easy everyone would
just mine their own BTC.
You forgot that the difficulty of mining BTC increases all the time. E.g. years ago you
could successfully mine a block using your own CPU. These days you won´t mine a single block
if you don´t have a data center full of the newest ASICs.
Even if you have a data center full of ASICs (that also cost money) you will run them 24/7 and
not mine a block for days, because the mining market is so competitive.
In a year the average cost of mining a single Bitcoin will probably be 8000 $ or more, because
of the rising difficulty.
let me put the question into context for all you dreamers: in order to mine 1 bitcoin in average in the world you need to spend about 5000$ in electricity. In China it's 4000$, Ukraine 1000$, ...
Do you think any kind of "thing" produced for 5000$ can be sold for 1 million $? Even in a short term bubble? Who is the idiot that will spend 1 million dollars instead of just 5000 for 1 btc?
You are welcome. You can stop daydreaming now
Do you think any kind of "thing" produced for 5000$ can be sold for 1 million $? Even in a short term bubble? Who is the idiot that will spend 1 million dollars instead of just 5000 for 1 btc?
You are welcome. You can stop daydreaming now
Well I think people had bitcoin in this year and if they sell all of their bitcoins in this year also they will regret it at that time and how much money could they had at the time bitcoin hit $1M. The value in that time is so good but we can't estimate the Fee's at the same time per transactions.
If that bitcoin value reaches $1M then the number of transactions will get increased which may imcrease the transactionfee also.But if the LN network implemented before that then there will be no problem even if number of transaction hyped because the transactioms will happen faster at that time.
Well I think people had bitcoin in this year and if they sell all of their bitcoins in this year also they will regret it at that time and how much money could they had at the time bitcoin hit $1M. The value in that time is so good but we can't estimate the Fee's at the same time per transactions.
And what will cause Bitcoin to hit 1 million USD in just less than 3 years ,
I believe the halving will cause Bitcoin to reach a 6 figure price at least. It is not $1 million, but it is still high.
It is a win-win because we can also watch John McAfee eat his own penis while we "new rich" people can rub coins on our titties at the same time. Hahaha.
Quote
taking into consideration the negativity from media , government and financial authorities about bitcoins, I don't think it can reach that price.
Yes the negativity and the FUD can make the people panic, affecting the price. But it does not do anything over the very long term price where Bitcoin is going.
To prove that, get a chart and zoom out to the maximum.
Quote
But if it reaches , either sooner or later, then 1 satoshi can be worth 10 USD.
Then all transactions must be on the Lightning Network.
The holders will become the controller and determination of both internationals and local politic. Bitcoin price of $1,000,000 will create for the world a new wealthy people from us and buying and holding it now should be the wise things to do.
If Bitcoin did hit 1M$ by mid 2020 like what Mcafee predicted...
Mcafee credibility is being questioned
John McAfee-Endorsed ICO Apologizes For Plagiarizing Content From Blockchain Taxi Platform
then we should not take his prediction seriously.
OP is impossible to reach this price in a short space of time, not even reach the $ 30,000 and we are already dreaming of more than $ 30,000? I think we'd better be realistic.
I actually saw him recently on a Youtube video saying that his prediction was short again and that it could hit $5 million by 2020. It was basing it on the increase in the number of users. But he never said anything about his dick again.
Either McAfee is nuts or if he is right, and bitcoin reaches at least $1 million, he will be known and remembered as a visionary.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
basically. But in my view only those experts will become millionaire if that times happen which is those who are expert doing technical analysis in specific ways. 'cause most new holders nowadays always panic sell when there's a temporary scenario because of being have no enough knowledge how to observe the pattern of growth rate in the graph so that they can build new Strategy or even to prevent panicking. (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
Considering that bitcoin has indeed, reached the price of $1,000,000 by 2020, there will be an influx of individuals who will become millionaires ASSUMING that they stored and kept their bitcoins and aimed for this situation. Like what you mentioned, a lot of individuals panic-sell their cryptocurrencies whenever its price decreases (due to various reasons like government prohibition and bans, etc.). Instead of turning the scenario into an opportunity to gain more, they see it on a negative aspect wherein they sell their coins and create threads about the doomsday of bitcoin.
Again, inflation may occur depending on the scope of individuals it covered per country. Assuming that countries will continue the utilization of bitcoin and it is legally acceptable relatively, a sword of Damocles would hang in the value of fiat. Individuals would aim to acquire bitcoin- ultimately decreasing the value of fiat and gold (which dictates its value per country).
I doubt that this would happen since government intervention may occur before this happens. Banks would predict this kind of outcome and will respectively create contingencies to prevent this situation from happening.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
If that's happen then for sure a lot of millioners were born but I think the goods will stay on its price because bitcoin is not owned by the governments. Fiat will still have it's own value. Hopefully I am also holding some bitcoin when that's happen. (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
If bitcoin really hit $1m by 2020, i'm sure people will invest more on bitcoin and maybe bitcoin will become the next gold. It's seems impossible though, hit $1m by 2020, it means we have 2 more years to reach that which is impossible. The bitcoin price can't even hit 15k-20k again in this year.
Many predictions on prices about bitcoin and when we say if it will hitted to 1m ofcourse many billionaires could experience this. Yes that's the problem it can't even go to $20k so many months to end this year. And we don't know what will happen this year 2018 and onwards. I don't think the price of the bitcoin become $1 million because that price is unreslistic because many peoplr will become billionaires easily and if you have only 1 bitcoin you are millionaire. We need to reach the price become very high like 50k dollars before that.
You have no vision. You don't understand how insanely small and non liquid this market is. At some point when the majority of the coins are stored offline for many many years (which is a process already taking place), just like how Gold is being stored for decades, the number of circulating coins might drop below 1 million. What happens if hundreds of billions in fresh capital tries to buy from a pool that contains less than 1 million coins?
Don't ever underestimate something this groundbreaking with a finite total coin supply. It's not like Gold where we don't even know how many non declared holdings there are. Bitcoin's open nature allows everyone to see and review everything whenever we want. People owning 1BTC will become very wealthy in the long run, which is exactly why you shouldn't sell any of your coins for fiat. It makes zero sense.
All in all, it is just a prediction, not the exact thing that will happen on 2020, original bet is $500,000 by 2020 then he changed it to $1M if he loses then he will eat something out of the national TV, well he will forget that bet obviously if bitcoin did not hit that price prediction, the progress of the price is not reasonable for that prediction, yes we know that it is unpredictable but we should realistically form a hypothesis.
I don't think the price of the bitcoin become $1 million because that price is unreslistic because many peoplr will become billionaires easily and if you have only 1 bitcoin you are millionaire. We need to reach the price become very high like 50k dollars before that.
If bitcoin really hit $1m by 2020, i'm sure people will invest more on bitcoin and maybe bitcoin will become the next gold. It's seems impossible though, hit $1m by 2020, it means we have 2 more years to reach that which is impossible. The bitcoin price can't even hit 15k-20k again in this year.
We would have a much higher demand for watches costing $ 850k. We would have full media attention, and anyone without a fraction would call it madness. We would have several politicians trying to ban it. No one else would sell and in less than a week would already be worth 10 million.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
basically. But in my view only those experts will become millionaire if that times happen which is those who are expert doing technical analysis in specific ways. 'cause most new holders nowadays always panic sell when there's a temporary scenario because of being have no enough knowledge how to observe the pattern of growth rate in the graph so that they can build new Strategy or even to prevent panicking. (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
And what will cause Bitcoin to hit 1 million USD in just less than 3 years , taking into consideration the negativity from media , government and financial authorities about bitcoins, I don't think it can reach that price. But if it reaches , either sooner or later, then 1 satoshi can be worth 10 USD.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
Year 2020 is a long way to go..a lot could happened in just a minute in the crytocurrency world. But i only hope the best for the years to come. No one can actually say for sure what will happened in the future but I have positive thoughts in the coming years for this industry. (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
Noo of course not , I've many times told you guys that during the process , you'll sell your Bitcoin not even when it's reach $200k , 10x from current price and I believe there would only few people who stick holding Bitcoin , which means there might only 5 -20 new millionaire , the rest of it regretting to sell Bitcoin too early , it's like a loop.
of course there will be many people who own a luxury car and a very grand house. but I'm not sure bitcoin will reach $ 1 million by mid 2020.
Millennials will be the new young millionaires for this generation. Go back to the past and see how many people doesn't believe and it's a question when someone asks if bitcoin would hit $1,000. It may be possible for some and others won't believe, it's hard to say if the prediction would be accurate or not. But if by chance this comes to us
Do you think this would have a large impact on society?
Definitely.Would this cause nocoiners to become the new low class?
Not really, there are no coiners who are rich enough.Would prices of every day goods rise?
If bitcoin hits $1,000,000 then world's economy is likely to get affected but it doesn't mean everyday goods will rise.Would Fiat currency even be worth anything?
Fiat will remain and its worth will be there.Or would we just have a lot of new money in an otherwise unchanged society?
A lot of money from the well known wealthy people will be allocated to the holders. Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
If that happen it will really bring out so many millionaire and Billionaires all from crypto currency and if that happen, so many people will regret for not buying Bitcoin or investing in crypto currency before the skyrocketed of the value of Bitcoin. (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
In my opinion there are only two ways in which this could happen, in the first the scenario we will be in the biggest bubble of all time where money from many different industries is diverted to bitcoin and other cryptocurrencies, at that point you should expect a big crash that will probably destroy the economy of the world, the second scenario is that the economy first enters in a crisis, then governments begin to print currency as fast as they can and then bitcoin begins to gain value very rapidly since now there is more money chasing after it, in this case the economy also crashes but now bitcoin is not the cause. (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
For start I think it's completely unrealistic that something like that happens in next 2 years, and even if BTC reach that price for how long it will stay there since nobody will hold, but just try to sell it as soon as possible. Imagine miners find block and earn 12,5 million $ for that, that will be insane...
In that scenario, the hashing power required to find a block will be enormous. Mining has become industrialized now and if the price increases further, the extent of industrialization would increase too. It would only be a mining pool that finds the block reward, and the $12.5Mn would be split between all the members of the pool. So the individual contributors to the pool would probably receive an amount which is not very different from what they do today.
For start I think it's completely unrealistic that something like that happens in next 2 years, and even if BTC reach that price for how long it will stay there since nobody will hold, but just try to sell it as soon as possible. Imagine miners find block and earn 12,5 million $ for that, that will be insane...
Most of crypto community would be very happy with a one 0 less in year 2020, so 100 000$ per BTC would be great price, and because of that I more belive in Tim Draper prediction when he say 250 000$ by the 2022.
Too fast growth can only harm BTC, but most people just want to profit from cryptocurrency - If you ask users simple question : "Do you want to BTC hit 1 million $ and stay there few days, but after that game is over?" I believe that the majority will said yes, so only looking in price is wrong way of thinking.
Most of crypto community would be very happy with a one 0 less in year 2020, so 100 000$ per BTC would be great price, and because of that I more belive in Tim Draper prediction when he say 250 000$ by the 2022.
Too fast growth can only harm BTC, but most people just want to profit from cryptocurrency - If you ask users simple question : "Do you want to BTC hit 1 million $ and stay there few days, but after that game is over?" I believe that the majority will said yes, so only looking in price is wrong way of thinking.
what will happen is the pleasure of everyone or the user seeing the price reach its peak, but I do not think that will happen, dude. look, the recent decline. do you think it's potentially good for 2020 later? certainly not, is not it! according to me in the year 2020 the price will be normal and only increased slightly, but at least it will be better. too early to discuss the price will reach $ 1 million during such situations.
Taking the prediction of McAfee seriously?
That's given that millionaires and billionaires will come out and will take over the media and will tell on how it is great to become that wealthy through bitcoin.
If that prediction will happen then bitcoin will be like a way to distribute the wealth of the elites to the people who owns it.
That's given that millionaires and billionaires will come out and will take over the media and will tell on how it is great to become that wealthy through bitcoin.
If that prediction will happen then bitcoin will be like a way to distribute the wealth of the elites to the people who owns it.
...
$1m per coin in just 2 years would mean there are a lot of problems in the world economy and that a million wouldn't be worth much imo.
1 million in 15-20 years would be some kind of natural growth where I assume it would be worth something. But such a value in 24 months would be a catastrophe. So I'm talking about very strong inflation here. Therefore Bitcoiners wouldn't be the new super rich class.
$1m per coin in just 2 years would mean there are a lot of problems in the world economy and that a million wouldn't be worth much imo.
1 million in 15-20 years would be some kind of natural growth where I assume it would be worth something. But such a value in 24 months would be a catastrophe. So I'm talking about very strong inflation here. Therefore Bitcoiners wouldn't be the new super rich class.
Interesting post!
However, we really have no idea how Bitcoin will react to a serious financial crisis in the real world.
It was founded after the financial crisis of 2008 and therefore has not been around during a real
recession.
Many people believe that the next financial crisis will be much worse than the last one, because the problems of the financial
crisis of 2008 were never really solved and central banks around the world intervened to an unimaginable extent.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
$1m per coin in just 2 years would mean there are a lot of problems in the world economy and that a million wouldn't be worth much imo.
1 million in 15-20 years would be some kind of natural growth where I assume it would be worth something. But such a value in 24 months would be a catastrophe. So I'm talking about very strong inflation here. Therefore Bitcoiners wouldn't be the new super rich class.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
This are all speculations right now, but if this will really happened in year 2020, everything will increase too.. the profit as will as the price, Im thinking that this has both positive and negative implications because by then the price will b3 too much for a wanna be investors. A common person might not be able to afford unlike now even if it is high but it can still be possible for middle class individuals to invest. (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
$1m per coin in just 2 years would mean there are a lot of problems in the world economy and that a million wouldn't be worth much imo.
1 million in 15-20 years would be some kind of natural growth where I assume it would be worth something. But such a value in 24 months would be a catastrophe. So I'm talking about very strong inflation here. Therefore Bitcoiners wouldn't be the new super rich class.
Bitcoin reaching 1million USD will make current users of bitcoins whose main trading strategy is to hold become millionaires and this will bring new entrants into the field of cryptocurrency. But I think it is not possible since we have only 2 years to reach 2020 and considering the current price trading even less than 10,000 usd.
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If Bitcoin did hit 1M$ by mid 2020 like what Mcafee predicted...
Mcafee credibility is being questioned
John McAfee-Endorsed ICO Apologizes For Plagiarizing Content From Blockchain Taxi Platform
then we should not take his prediction seriously.
OP is impossible to reach this price in a short space of time, not even reach the $ 30,000 and we are already dreaming of more than $ 30,000? I think we'd better be realistic.
I actually saw him recently on a Youtube video saying that his prediction was short again and that it could hit $5 million by 2020. It was basing it on the increase in the number of users. But he never said anything about his dick again.
Either McAfee is nuts or if he is right, and bitcoin reaches at least $1 million, he will be known and remembered as a visionary.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
That is a very difficult thing to achieve, but look at that is always a lot of miracles about crypto. Looking at the current conditions then a very high price increase will make the owners of Bitcoin will become rich. They will have more wealth than anyone who does not know Bitcoin. Directly then the state of the world economy will be greatly influenced and it will make the conditions become very changeable. It could be that crypto takes over most of the world's finances. Fiat will still exist, but the impact will not be too big. The power of the world economy could change very quickly if it all happened. (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
If Bitcoin did hit 1M$ by mid 2020 like what Mcafee predicted...
Mcafee credibility is being questioned
John McAfee-Endorsed ICO Apologizes For Plagiarizing Content From Blockchain Taxi Platform
then we should not take his prediction seriously.
OP is impossible to reach this price in a short space of time, not even reach the $ 30,000 and we are already dreaming of more than $ 30,000? I think we'd better be realistic.
It's hard but not impossible. Remember that Bitcoin grows exponentially, and exponential movements are often not considered as realistic in Bitcoin terms...
Not a long time ago, $20,000 predictions were considered "insane". Traders like Tone Vays were predicting $7500 as best case scenario.
The fact that McAfee is a shady figure doesn't mean his model is incorrect. You can check his model in a graph here:
https://bircoin.top/
So we are on a good track, going up and down the curve, as long as we are near it, McAffee's prediction isn't far fetched.
If we keep going down the divergence may be to good to get there on time, unless we see a massive pump.
If Bitcoin did hit 1M$ by mid 2020 like what Mcafee predicted...
Mcafee credibility is being questioned
John McAfee-Endorsed ICO Apologizes For Plagiarizing Content From Blockchain Taxi Platform
then we should not take his prediction seriously.
OP is impossible to reach this price in a short space of time, not even reach the $ 30,000 and we are already dreaming of more than $ 30,000? I think we'd better be realistic.
I'm not yet sure to what extent, but I have always believed that the current large crypto holders will eventually become part of the wealthy elite. We already have quite some crypto billionaires already.
Think about Roger Ver, Jihan Wu, Vitalik Butterin, Coinbase CEO, Binance CEO, Mark Karpeles (obviously through theft), Winklevoss twins, Ripple gang, and the list goes on. It's an interesting group of people for sure.
I'm sure there are even some publicly unknown crypto billionaires in the background. I'm happy that we have pushed it this far. I remember the days as yesterday where Bitcoin's market cap was less than $1 billion.
I almost cried reading this. Nostalgic memories..... Have heard of teenagers becoming millionaires and even billionaires, because they bought bitcoin at the early stages.Think about Roger Ver, Jihan Wu, Vitalik Butterin, Coinbase CEO, Binance CEO, Mark Karpeles (obviously through theft), Winklevoss twins, Ripple gang, and the list goes on. It's an interesting group of people for sure.
I'm sure there are even some publicly unknown crypto billionaires in the background. I'm happy that we have pushed it this far. I remember the days as yesterday where Bitcoin's market cap was less than $1 billion.
But for bitcoin to hit a million dollars in less than two years is just way too much to ask. It is almost impossible for it to happen but it would be a welcome change if that ever happens.
I'm not yet sure to what extent, but I have always believed that the current large crypto holders will eventually become part of the wealthy elite. We already have quite some crypto billionaires already.
Think about Roger Ver, Jihan Wu, Vitalik Butterin, Coinbase CEO, Binance CEO, Mark Karpeles (obviously through theft), Winklevoss twins, Ripple gang, and the list goes on. It's an interesting group of people for sure.
I'm sure there are even some publicly unknown crypto billionaires in the background. I'm happy that we have pushed it this far. I remember the days as yesterday where Bitcoin's market cap was less than $1 billion.
Think about Roger Ver, Jihan Wu, Vitalik Butterin, Coinbase CEO, Binance CEO, Mark Karpeles (obviously through theft), Winklevoss twins, Ripple gang, and the list goes on. It's an interesting group of people for sure.
I'm sure there are even some publicly unknown crypto billionaires in the background. I'm happy that we have pushed it this far. I remember the days as yesterday where Bitcoin's market cap was less than $1 billion.
Only one thing I know ,all those hodlers will be millionaire instantly. I wish I have some amount on that day when bitcoin hit that price.
If Bitcoin did hit 1M$ by mid 2020 like what Mcafee predicted, I think there will be new millionaires and billionaires but I think it won't impact society that much because by that time US dollars might be inflated, and it's value might be less than it is now so it won't have that much effect on society(but it is a given that goods' price by that time is higher than it is now). It also wouldn't cause nocoiners to become the new low class(because I think btc would never replace fiat but it can be used as an alternative way to pay).
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
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