John Mcafee Just Withdrew His Famous 2020 Prediction About Bitcoin...

01-14-2020 • https://www.lewrockwell.com, By Ethan Huff

There was a time when John McAfee of antivirus fame predicted that Bitcoin would reach $1 million by 2020. But he's since changed his mind and decided that Bitcoin will eventually reach $0 because the cryptocurrency is based on "ancient" technology.

Part of McAfee's former $1 million claim included a personal promise; if it didn't "shoot the moon," then McAfee was going to remove his genitalia. But now McAfee claims that this was all just a ploy for attention, and that he never actually intended to do this.

Though McAfee founded one of the largest cybersecurity firms back in 1987, he's now on the run from authorities. And during a rare interview he gave from an anonymous location recently, McAfee told all about his "adventures," as well as his newfound opinions on Bitcoin.

1 Comments in Response to John Mcafee Just Withdrew His Famous 2020 Prediction About Bitcoin...

Comment by PureTrust

Entered on: 1/15/2020 10:02:20 AM

Bitcoin absolutely is financially viable in the long run. Why? Because it remains within a decentralized mining market. The idea that it costs $1000 to mine a single bitcoin is irrelevant. Why? Because when it costs too much in electricity and equipment resources to mine, miners will stop mining. When this happens, the value will go up because of the scarcity. Then mining will become viable, again, and the miners will start to mine again, thereby stabilizing the Bitcoin value. There are other factors that will keep Bitcoin popular. One of them is that other companies are making side-chains that are connected to the Bitcoin blockchain. Take a look at the Omni Layer - https://www.omnilayer.org/. These other companies will keep Bitcoin alive for a long time by making it practical OUTSIDE OF ITSELF.

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