Bitcoin Forum

The bitcoin rate will increase to $1,000,000 in three years, as its price hit another all-time high at $11,000. The computer programmer and notorious businessman John McAfee has doubled his forecast for the bitcoin price, claiming it could jump to $1,000,000 by 2020.

If wrong, McAfee still is decisive to “eat his dick.”. Earlier, McAfee wrote in his twitter that bitcoin would rise to $500,000 by 2020, adding that he will eat his penis otherwise.

This phrase of McAfee has since become proverbial, with many users in social media reminding to McAfee his promise whenever he makes any publication on bitcoin. Though sounding too optimistic, McAfee's prediction met support from the bitcoin community.

According to Altucher, the bitcoin price is pushed up by the fact that the issuance of bitcoins is limited by 21,000,000 coins, while the number of persons, willing to buy it, is growing. Currently, bitcoin is traded at around $10,000, down from the all-time high $11,300.

In three years 1,000,000 US dollars I mean its possible but its hard to say especially when we're talking about that huge amount of money. I mean in that three years it's possible for 100,000 USD because the higher the bitcoin get the higher the number of people get attracted meaning a lot of people will notice and have attention and bitcoin and no way some of the biggest business firms or government would stand still about and do some regulations to control the usage of bitcoin that will result to some people nuisance in their interval.

Basically, I think McAfee is just hyping Bitcoin, so more investors could join the ride and make the price of Bitcoin higher.

Well, if he's going to keep increasing the forecast every time the price goes up a bit, I guess there's a 100% chance that he'll lose the bet.

The only way that this would be possible is if the US dollar dramatically decreased in value, which is unlikely to happen over such a short time frame.  If the dollar still exists in a few hundred years, I suppose BTC will be worth over $1,000,000 even if it's not worth much in terms of goods and services.

Anyway, the main reason that McAfee is "notorious" is that he's a moron, so I wouldn't treat his opinion as being relevant.

Why has McAfee become an authority on bitcoin prices all of a sudden? People are taking his opinions seriously but I haven't seen him being able to back his claims with hard facts somehow.

BTC price is unpredictable but come on! there is limit to everything.  $1M in 3 years is just impossible.  It may be possible to hit $1m sometimes in future but not in 3 years that's for sure... ::)

Well I think its not impossible but for sure very rare because there has been a sharp increase in the number of countries banning bitcoins thus I do think that it will put a hold on that price for sure..
Bitcoins are now seen as a threat to fiat and I doubt it if banks won't come forward to regulate it also there has been a number of speculations about the price of bitcoins being regulated and somehow they are proving to be true .. because just very recently I got to know that.... You aren't allowed to sell Bitcoins over a certain value.. and yes npw I have noticed that in zebpay there is an automatically generated message that prevents you from buying or selling bitcoins after their maximum amount limit thus lets see if bitcoins are able to find ways to evade all these things.

That word itself contradicts your second sentence. If its unpredictable, as we know it is, then it is completely possible for BTC to reach $1M in 3 years. Yes it maybe is not probable but its not impossible. There was a post on Reddit about 4 years ago in which a man claiming to be time traveler said the price of BTC will read $10k by 2017 and $100k by 2021, the $10k prediction coming true is causing that post to surface again. You can read that here. (https://www.reddit.com/r/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/)Well its likely just some troller but its a good read.

The price of Bitcoin is determined by traders. It is very possible for Bitcoin to reach $1m price mark. Anything can happen since the  use of Bitcoin is decentralised.

Nothing is impossible with bitcoin also the same. Mean while we should be practical also so the bitcoin rate will be in next three is can be achievable of 100,000$ is my prediction no and not having any strategy to achieving this target. So far the consistency of bitcoin after the correction of its rate is more promising and always set the new target rate for achieving immediately.

To much coccaine, right?
Do he really want to eat his dick on national TV? Why he changed his prediction.
I can't imagine that his prediction will become real. Offcourse, nothing is impossible, but I don't have any ideas, what thing can cause such unrealistic rise.

This is just some sort of hype, and nothing more. I believe that Bitcoin can cost around 50 thousand (who knows?), but a million??? Even taking into account its capitalization, which is growing only, it is nonsense. IMHO

Uniquely, bitcoin will still grow several times in value and bring a lot of money to its holders. This is evidenced by technologies that lead to prospects and growth in price. But in fact it is not very hard to believe that bitcoin will be so expensive and what's the point. Can money be depreciated in this case?

I just think McAfee wants to eat his dick. While I too want the btc price to go up, his ridiculous bet is just that, ridiculous. He probably means "suck" anyway and not literally eat which sounds more like a perversion, didn't he say he would do it on live TV or something too?

When do yall post my thoughts about future bitcoin price in such articles?  ;D I can do it too. I mean everyone can guess at btc price like Mr  McAfee  ;)

This is very incredible, seeing how they are in a hurry to see bitcoin going to one million dollars seems a little bit shady for me.

How is he so sure that the price is going to be over $100k? i have not even think about, and we dont even know if it is possible because we dont know how the market could react if the price touches those rates.

There is a huge demand for bitcoins right now, and that is the main reason of why it has been increasing so fast.. But one million dollars, seriously? It seems a little bit difficult to reach that price. and just in two years..

Hearing such statements from somebody who already made a fortune out of bitcoin can't do more than encourage people to invest more in such wonderful invention which will make the economy as we know it go further and become even better and thus making life way easier for people around the world . Even tho i don't think that it'll reach 1 million dollar in 3 years , but 100 thousand dollar is totally doable .

I believe him look at the increase of btc in last year

There's a chance that he can keep his prediction but there's a chance that he is jus bluffing. But in reality, I like this to happen. Who doesn't want to be a millionaire by just having 1 bitcoin for 2 years from now? Its either he'll do pump it when its close to that year and otherwise he is pushing and attracting all types of investors to hop into bitcoin size he's known a person/business/technology icon.

His prediction is way too optimistic. McAfee is rather crazy, and I would not rely on him to make investments... Of course Bitcoin price will rise in the future, but I doubt it will be to such an extremely crazy level.

I actually read that and wondered at its possibility. That's way beyond my league, as in a million bucks in three years. I can image the possibility of a couple of hundred thousand not a million. That's akin to run away appreciation. However, I do not think the guy is out of his mind considering how Bitcoin has surprised most of us in just over a year. Judging by performance of the past two years and factoring in an exponential growth with a barely adopted product vis-à-vis world population, all things being equal (all things never are) it would be safe to posit that bitcoin could host the $100,000 mark in the next 3 years but a million? That's debatable. The greatest driver these coming months would be organised financial institutions and I'm sure even they are aware of the impact they're going to make in driving price of  Bitcoin higher.

It's quite interesting that McAfee decided to double his own bet. He must have a lot of faith in Bitcoin. I'm not surprised though. Bitcoin has been gaining a lot of mainstream media attention lately. It's probably due to Bitcoin hitting $10.000 per 1 BTC. I always thought that McAfee is kinda weird and cool at the same time. Even if Bitcoin doesn't hit 1 million before the end of 2020, he won't eat his dick.

what is a realistic number though?  is 100k pretty reasonable?  would 100k make most bitcoin users happy?

I do respect John McAfee thoughts ... Thinking about his carrier on 90's computing security at such low level language ... like assembly etc ...  keeping reasoning at such low level  ;)   

He's not an authority in any field. He had his one time stand with his software company and that's basically it. That said, I like how positive he is about it. I wouldn't jump in because he said so but the enthusiasm shouldn't go unnoticed, especially that the man is willing to get rid of his manhood if he's wrong. Maybe good old Mr. Johnson has been letting him down. Let's face it, John isn't a young stud anymore. ;)

Yes, As he said that bitcoin price will increase to 1,000,000$ when we reach 2020, I think he is more than an optimist man, It's an unbelievable price, really I didn't know if bitcoin will reach this high of price in three years or not. If bitcoin will be in this point, i think we will be millionaires in this time. https://i.imgur.com/XzxMAxr.jpg

Three years will not be enough for Bitcoin to hit 1M $. I am sure that Bitcoin price will soar but it is still unlikely to hit the 1.000.000$.

John McAfee is free to do whatever he wants with his manhood, but it can't prove he is wright.
He was expecting bitcoin to hit 5.00.000$ by 2020 but now he doubled it to become 1.000.000 and that's exactly why I, personally, can not rely on such estimations and I can't take them seriously. (The model he is using has already failed to predict Bitcoin price by the end of 2017).

Besides, he didn't mention how he determined the value of bitcoin by 2020 (technically speaking).

I think he'll be eating his dick in a few years then, I will staunchly refuse to believe an estimate like this unless something significant changes, like a ton of companies from around the world getting their money involved with Bitcoin and trying to buy up whatever quantities they can get their hands on. This seems doubtful in every aspect, even looking 3 years down the road. I wonder what is driving him to make such predictions, because there's nothing there to indicate bitcoin hitting $1M by 2020, even if the market pushed itself up to $11k this year. He should have stuck with his $500k prediction in my opinion, but I seem to be a perfect contrarian so you never know.

I think it will not happen. Even you wait few years or even decades it will not reach that price because if that happen many people become rich if they have only 1 bitcoin what if they have a lot of bitcoin they will earn more money. I don't know why other people believe that bitcoin price become very high . I believe in bitcoin also but not that price.

How old are these people? they sound very childish. Anyway it is interesting and I love a good argument like this. I hope bitcoin reaches that much. I think it can. It is just a matter of time before that happens and when it does it will be great for all of us to be rich and shoe it in the none believers faces. ;)

1 million dollar is really a long jounry that bitcoin need to cover but it is not impossible for bitcoin to achieve this target. In the start of 2017 the price of 1 btc was 999$ and now it is trading at 12000$ so may be it is not impossible

This guy is full of horseshit.

So his estimate was off by a whopping 100%, and then he corrects his next estimate with how much he was previously off? Like, how bad does this guy wants to eat his dick!?

There nothing that is impossible. But we all shall wait to see that figure for only 1Bitcoin. I will be surprised because that figure is well too high for me.

Anything is possible when it comes to bitcoin, even McAfee is giving ridiculous commitment and prediction. I hope to see bitcoin's price to really reach $1M by that time, it could become mainstream by 2020 and the growing popularity of bitcoin is the proof we need.

Isn't he too rich for attention whoring?

John Mcafee is really trying to be the next Roger Ver by getting quite indulged in cryptos moreover his such a prediction surely looks considerably true to me. People are joining btc with great enthusiasm the market cap is breaking all the records true. BTC multiplied 10 times this year what more proofs do you want that 1 million is not that far away.

No its not possible, There is limit in bitcoins and i do not think that it will actually reach this value, The only way for this to reach a massive increase like this big is for billionaires to invest their money on bitcoins and the demand will also increase because the supply will be reduced.

It may happen. Cause as we can see it its $13000 already . I heard that bitcoin will hits $22000 at the end of this year 2017. It's so fast. So it may happen to hits $1000000 in three years.

I think there is much to be seen in a long range prespective......i mean we can not say it,ll not increase to that level but ........if we take into consideration of the developing countries in the world then prices of dollar may go down  by 2020.......so the dollar will be same as any other currency in the upcoming time .......let,s hope that mcfee dosnt eat his own dick.....

There will never be enough coins for every millionaires on this planet to buy, as such the left out millionaires will be offering much higher price thus ...price increase.

Elon, stop this bacchanalia!

interestingly he will answer for his words? I think the appearance of futures for Bitcoin on Monday will force him to change his forecast again or he will remain without a penis.

When bitcoin becomes too expensive, then it will have a bigger treat to the government and at that time, the use of bitcoin will become high on illegal activities, and that might start leading to the destruction of bitcoin.

All i can say is this is way too far from the impossible, he's way too beyond of his mind to think like this. Can you imagine when Bitcoin was first released in 2009 it's almost free near to cents its price. Until it hit $10,000 in 7 years and if you do the math here it is way too far from the prediction, even half of the price of Bitcoin that he told can't meet. This is totally absurd and beyond on any imagination amongst Bitcoin users here.

I think it is possible, already a lot of people has been attracted by Bitcoin ! With the increase in demand, the price increase.  It is a common matter.

Before i thought he was ludicrous but after the previous 3 weeks happenings in the markets i'm now not so sure. Maybe old John is onto something here guys with the limited supply of 21,000,000 coins and many lost in old wallets or discarded by miners in the early days. With the massive spike in the number of adopters and investors of bitcoin maybe it just will do that!

from the other people it is quite impossible to happen but there is no such thing impossible that may happen.
If the company and management of bitcoin maintains their performance in the market they can rich that target in future.

If you guys think this guy is still joking you haven't learned a thing about cryptos yet.

Crypto currencies are showing a progressive increase in there worth, yes bitcoin has raised much in this year it's all due to its properties and the comfort which it is providing to the people, a high output is an attraction for the investors. They became able to earn more in no time by investing into bitcoin. It's not the end yet bitcoin has much more to achieve

That would be nice, a lot of people would be able to purchase a bunch of cool things without having to spend a full Bitcoin.

It's not possible to reach in a million in 3 years. Maybe the rate will retain or go up but it will not reach it. Maybe it will took a lot of years to reach a million because bitcoin due to its volatility it cannot maintain its price , it may go up or down, who knows about it. we can't predict the future of it.

i know bitcoin haven't reached the price of stability for now but dont you think 1 million dollars is a bit too much for bitcoin as a price maybe in the upcoming years there better altcoin that could replace bitcoin as a mean crypto currency and who knows i might be wrong too ;)

The thing is, if I did not know anything about Bitcoin I would perhaps think the same, because the potential is huge. But question is: does McAfee know Bitcoin is not a currency?
Does it know it is impossible to buy everyday life products with Bitcoin because of big fees and transaction time?
I hope for him he knows a little about what he invested into!

I would really love that to happen but let's be realistic. McCafee is just basically making bitcoin shine like a diamond in every people's eyes that will convince them to invest a whole lot of money.

so there will be many new millionare created by bitcoin  :D ....

BTC will increase for sure but nt exactly as McAfee says it is crazy figure to imagine Btc will be more volatile in coming days Regulation and SEC many such factors will come in place

It is possible to reach $100 thousand in three years. But the $one million is a little exaggerated, and it will be a fragile price if only the price increases without the support of other practical applications. Because the price rise is actually related to the growth of the community, the encrypted currency circle has grown rapidly this year.

If it hits $1,000,000 dollars per single piece of bitcoin the 100k satoshi minimum fees of market will surely kill us. ;D It will be like $1,000 dollars fee (if im correct) for a single transaction. :o

This is too much but possible when no forks delaying the growth of bitcoin.

I think for some people it is quite impossible thing to happen but for there is no such impossible thing in the company of bitcoin.
as long as they can maintain they performance in the public and innovate their system to provide a excellent quality service they can reach these things in future.

It is absolutely unrealistic that the price bitkoy in three years has increased to one million dollars. Even if such trends are to be outlined, state structures will interfere and will regulate bitokoyn in order to limit its course, since such a price will affect negatively and unbalancing the economy. While the states actually observe and do not intervene in the process of a sharp rise in price of bitcoins, however, there is a limit to everything. Therefore, if bitkoyn and will rise significantly in price, it will not be so direct and painless its growth. Dramatic events about the cost bikkoyna we have yet to come.

Look,the rate of bitcoin can rise upto $1000000..But we can't say it emphatically. Because,in the case of bitcoin,there cannot be said anything before it happens.But if the price goes to $1000000,that would be great.

I think McAfee has predicted this only to create an attention so that people become interested and more and more people buy bitcoin.That is how,the price of bitcoin will increase.

If something like that happens, then do you guys think that the governments will just sit back and watch? Bitcoin is an asset which can never be controlled by the governments (unlike the case with treasury bonds, fiat cash, equities, mutual fund and to some extent bullion). Here in India, the government is trying to charge Bitcoin users with treason charges!!!

I am sure that the government will interfere and will do whatever they think that they can to ban or stop bitcoin for not going more increase. although the government cannot control bitcoin, I am sure that they will search and use their source to controlling bitcoin. if this happens then bitcoin user cannot feel free again when they want to use bitcoin.

Governments will be willing to tax rather than ban it IMO.
Look this thread about France's case for instance > https://bitcointalk.org/index.php?topic=2602056.0;all

At first I thought the prediction is crazy but if you start quantifying the real quantum of the financial markets and the value of the forex market $1m is achievable.

We are in the process of what I would like to call digitizing the world economy the pace of which is determined by the rate we can feed money into the crypto space.

We are not the early adopters we are the pioneers the1% that know about this tech and will be rewarded for hodling it.

What we do with the new found wealth is the question, there are alot of peole that is giving it to the less privilege. The income will be greater than our expenses. I’m personally committed to donate 10% to charity.

Just HODL

It might be possible to happen since the trend today is gradually increasing. But, then again, we can't say that for sure since the trend can be very unpredictable.

The forecast on the price of bitcoin by 2020 that it will cost a million dollars, to my opinion, is not real. If you consider purely bitcoin and the demand for it, then, perhaps, it would have happened. But bitcoin does not exist in amorphous space. It exists among various states that have serious levers of influence on it. States will not be indifferent to looking at the fact that there is a crypto currency in their territory that is tens of thousands of times more expensive in value than their own currency and that rises and falls in price every day for thousands of dollars, creating confusion and tensions in their economies. As these states will react to this behavior of bitcoin, we will see, but such a reaction will definitely be negative and it will hinder the price growth of bitcoin.

Bitcoin improves every year and I do hope that the problem with the transaction fees and speed will be solve and by this we will see bitcoin on its high note. I know $50k this year is possible and can really go further better to hold more.