John McAfee Triples Down on $1 Million Bitcoin by 2020
Or he will eat his what?
Ok, so he didn't explicitly bet his manhood on that $1 million dollar price this time, but he certainly has upped his price target.
John McAfee said a few months back that he would eat a certain part of his anatomy if bitcoin didn't reach $500,000 per coin by 2020.
More about his original claim can be seen here:
https://steemit.com/bitcoin/@jrcornel/bitcoin-to-usd500-000-within-3-years-or-he-ll-eat-his-what
Then, a few months later, not only did he not back off of that claim, he doubled down on it.
At the time many thought he was just using hyperbole to make his point, or possibly was a little influenced by alcohol, but nope, he stuck to his original $500,000 by 2020 claim.
Now, he is stating again, on the record, that bitcoin will hit $1 million per coin by 2020, and that is his conservative estimate!
(Source: https://twitter.com/cryptomanran/status/966730602950152192)
Oh, and guess what, John claims he never loses bets.
I guess this recent 70% drop in prices didn't scare ol John off too much!
How does he come up with that price you might be wondering?
His rational is a bit interesting to say the least, though I am not sure I fully agree with it. However, I also can't really say I fully disagree with it either.
Basically he works backwards, projecting when the last few coins will be mined and the costs that will be associated with mining those coins.
His theory is that if the costs are projected to be roughly "X" amount than the price of what is being mined must be many times more valuable than "X".
Then work backwards from that end point when the last coins are mined, and you can get a rough estimate of $1 million per coin, give or take a million of course. ;)
Overall, it's an interesting theory, and one we will be able to watch unfold in real time over the coming years.
More than just financial reasons, I just hope he's right so I don't have to watch him eat something that I really don't want to see.
Give the video a listen if you get a chance, pretty interesting stuff in there.
Here's to hoping he is right!
Follow me: @jrcornel
I wouldn’t put too much stock into the comments of that whack job. I just visited his former home in Belize. He is still a hot topic of discussion there. Read up on his WIKI:
On April 30, 2012, McAfee's property in Orange Walk Town, Belize, was raided by the Gang Suppression Unit of the Belize Police Department. At that time, McAfee was in bed with his girlfriend, who, McAfee said, was traumatized by the incident. A GSU press release stated that McAfee was arrested for unlicensed drug manufacturing and possession of an unlicensed weapon.[15][51][52][53] He was released without charge.[54] In 2012, Belize police spokesman Raphael Martinez confirmed that McAfee was neither convicted nor charged, only suspected.[55]
On November 12, 2012, Belize police started a search for McAfee as a "person of interest" in connection to the murder of American expatriate Gregory Viant Faull. Faull was found dead of a gunshot wound on November 11, 2012, at his home on the island of Ambergris Caye, the largest island in Belize.[56][57] Faull was a neighbor of McAfee.[58] In a November 2012 interview with Wired,[59] McAfee said that he has always been afraid police would kill him and thus refused their routine questions; he has since evaded the Belizean authorities.[58] Belize's prime minister Dean Barrow called McAfee "extremely paranoid, even bonkers".[60] McAfee fled Belize when he was sought for questioning concerning the murder.[61][62][63]
The magazine Vice accidentally gave away McAfee's location at a Guatemalan resort in early December 2012, when a photo taken by one of its journalists accompanying McAfee was posted with the Exif geolocation metadata still attached.[64] While in Guatemala, McAfee asked Chad Essley, an American cartoonist and animator, to set up a blog so that he could write about his experience while on the run.[65] McAfee then appeared publicly in Guatemala City, where he attempted to seek political asylum. On December 5, 2012, McAfee was arrested for illegally entering Guatemala. Shortly after he was placed under arrest, a board to review McAfee's plea for asylum was formed. The committee denied his asylum, so he was taken from his holding facility to a detention center in order to await deportation to Belize.[66]
On December 6, 2012, Reuters and ABC News reported that McAfee had two minor heart attacks in a Guatemalan detention center and was hospitalized.[67][68] McAfee's lawyer stated that his client had not suffered heart attacks, but had instead suffered from high blood pressure and anxiety attacks.[69][70][71] McAfee later said that he faked the heart attacks while being held in Guatemala to buy time for his attorney to file a series of appeals that ultimately prevented his deportation to Belize, hastening the government's decision to send him back to the United States.[72] On December 12, 2012, McAfee was released from detention in Guatemala and deported to the United States.[73]
As of January 2014, Belizean police have presented no new accusations, and they have not persisted in seeking McAfee's imprisonment for any of the crimes of which they accused him. However, they have auctioned off McAfee's seized assets, and his home was burned down under suspicious circumstances.[74]
On August 2, 2015, McAfee was arrested in Henderson County, Tennessee, on charges of one count of driving under the influence and one count of possession of a firearm while intoxicated.
Oh man oh man❕ Please don't let us down, O great one John Mcafee 👌✨🔮❕
i know right i hope he is right! John McAfee what a character still cant get my head around him!
That dude is crazy enough, he will eat his dick!
He just might...
Wow, he's a brave man betting his dick like that hehe. Then again, who would have bet Bitcoin would reach 19K on 2017? I was certainly surprised by that. Also, we'll have to see what dollar inflation behaves like in 2018, a lot depends on that and how long the Stock Market can remain on the green without crushing precipitously. regards
Inflation at work!
That is a pretty scary chart for anyone saving dollars...
I'd be very happy if it was at 499k dollars by 2020, best of both worlds :P
Knowing McAfee, he he'd probably enjoy making good on that bet.
Haha, that is pretty funny. Though I certainly wouldn't hold him to that bet if bitcoin was even $300,000 per coin by then. Heck, now that I think about I wouldn't hold him to that bet if bitcoin was any number by then. :)
I used to listen to what he is saying, but stopped while ago as IMO he is just a pump and dump man! And I don't believe that bitcoin will ever be worth that much. We all know that it is not the best coin at all. People tend to have some sentiment towards bitcoin, but those aren't worth that much.
It will be interesting to see what the Lightning network means for bitcoin when/if it eventually gets implemented.
That would be really nasty! I hope he is right as at $1m per btc I could retire and spend more tine at the beach (well anytime at the beach would be an improvement as it’s -2 outside)!!
McAfee shilling hard!
1 million ... let the lines be drawn.
Hahaha, you said it as if he will make you watch him eating his own d*ck. 😂
Interesting logic he uses...🤔 But using same logic what then price of bitcoin gonna be in 2030...
I believe he says $10 million, or perhaps it was billions, watch the video. :)