INTERNET SURVIVALIST and tech Chuck Norris John McAfee has predicted that Bitcoin will reach a value of $1m by 2020 and that he'll eat his own dinkle if he's wrong.
McAfee had previously pledged to nom-a-knob if it reached half a mill, but the recent acceleration in the value of the cryptocurrency has made him up his game.
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong. pic.twitter.com/WVx3E71nyD— John McAfee (@officialmcafee) November 29, 2017
Bitcoin (which definitely wasn't invented by Elon Musk, he said so), crossed the $10,000 threshold on Wednesday, peaking at $11,00 before dropping and settling at $9,000, but it remains a volatile currency and is likely to keep rising.
Part of the reason is supply and demand - unlike physical currency, you can't just print more money (quantitive easing, innit). Mining Bitcoin takes time and processing power and there are no shortcuts. So it stands to reason that it will keep gaining value unless it is deliberately devalued by subdividing it, which presents more problems than it solves, so expect it to keep on going.
Meanwhile back at McAfee towers, the conversation gets a bit heated, as pedants ask whether John means Bitcoin or Bitcash, while others question him on their own preferred cryptocurrencies, which he points out is the sort of information he gets paid large sums of money to make, and so he probably won't give it away on Twitter.
A well-known advocate of cryptocurrency and blockchain, McAfee claims he only buys things that can be bought with bitcoin and warns people who think he is mad that's exactly what people thought about the automobile.
Bitcoin has created a new paradigm of unprecedented scale, and the backlash against it is also unprecedented. "Bubble, "Scam", "Shitcoin", "Scheme", and other derogetories are like "GET A HORSE" laughingly shouted at new owners of the first automobile. People: sell your horses!— John McAfee (@officialmcafee) November 29, 2017
We're not getting our dinkle recipe book out anytime soon. That McAfee knows his stuff. Plus he scares us a little. µ
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