What do people think about Mcafee statement?

[zigglr6]

McAfee said Bitcoin will be $500k within 3 years: https://www.cryptocoinsnews.com/john-mcafee-claims-bitcoin-will-worth-500000-three-years/

Do you think he's worth listening to?

[batang_bitcoin]

He's a crypto believer and it may be exaggerated but who really knows if this going to happen. Why not to see it on $500k it woukd be very beneficial to all of us as its going to be another great year and one of our best day ever if it will be reaching that price.

[JanpriX]

McAfee is one of the personality that I admire here in cryptosphere. And I'm one of the people who would like to see BTC hit $500k in the next 3 years. It may sound impossible at first but this could happen if people all over the world start investing to BTC. As we can see right now, the price has a huge boost because of the announcement of BTC future. Imagine this type of events happen in that span of 3 years. $500k should be easily achieved at that time. Just hodl all your BTC and chill out. 

[Mometaskers]

I think he's over optimistic but then we can't say for sure that it will not happen, with all the speculation enticing people to get in. The price for BTC1 rose from around $1150 January this year to $7517 as of writing. It might not go up to $500k in 3 years but maybe it can reach $100k.

[scottykarate]

Well, if it captures just 1% of the FOREX market....it would be a good start.

[ladydark]

That's really a bold statement by Mcafee about bitcoin.We are continuously hearing people like jamie dimon and  other CEOs of financial firms just terming bitcoin as a bubble,fraud.

He is a well known person and now a CEO of MGT capital investments.His words could not be just left unaddressed.His words may be irritating to people of wall street.

His statement could be seen very optimistic.But when we now see the bitcoin price surging speed,then it could also be possible to reach such high price since three more years are remaining.

[alekad]

I think it potentially be true, although it's hard to believe. But I think it can come true in case of really great changes in the world's economy. Somesing will happen with dollar, something with all the stock exchanges and with precious metals. The world will be different and the dollat itself will be different in this case.

[Zorbak]

McAfee said Bitcoin will be $500k within 3 years: https://www.cryptocoinsnews.com/john-mcafee-claims-bitcoin-will-worth-500000-three-years/

Do you think he's worth listening to?

it is quite possible, reasons behind his arguments are solid, I would say maybe it is a bit too much optimist but who knows... anyway it does not sounds crazy to me what he says

[jseverson]

I've seen this claim and he did say he used some topology something method to arrive at that value. He was being conservative with his estimate too. As for what I think about his statement, I think it's just Mcafee being Mcafee. It's overly optimistic.

Not that I would complain if he got it right though. It's just that he owns a lot of coins and Bitcoin's value skyrocketing would benefit him. He has an agenda, basically.

[avikz]

McAfee said Bitcoin will be $500k within 3 years: https://www.cryptocoinsnews.com/john-mcafee-claims-bitcoin-will-worth-500000-three-years/

Do you think he's worth listening to?

The may be possible or may not be. No one knows for sure. To reach that price point, the bitcoin market cap should be somewhere to close 7.5k billion USD. The current market cap of bitcoin is 110 billion USD. So the current market cap needs to be 7500 billion USD for the bitcoin price to reach $500k mark. I believe, that is not going to happen in three years. This exponential growth will need support from organized financial market as well as form the governments. If we see some economically strong countries legalizing bitcoin, then it can be possible but otherwise not.

I have found a very interesting tool to calculate bitcoin's price based on its market cap. Try it for yourself to know the prediction.

http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html

[scottykarate]

McAfee said Bitcoin will be $500k within 3 years: https://www.cryptocoinsnews.com/john-mcafee-claims-bitcoin-will-worth-500000-three-years/

Do you think he's worth listening to?

The may be possible or may not be. No one knows for sure. To reach that price point, the bitcoin market cap should be somewhere to close 7.5k billion USD. The current market cap of bitcoin is 110 billion USD. So the current market cap needs to be 7500 billion USD for the bitcoin price to reach $500k mark. I believe, that is not going to happen in three years. This exponential growth will need support from organized financial market as well as form the governments. If we see some economically strong countries legalizing bitcoin, then it can be possible but otherwise not.

I have found a very interesting tool to calculate bitcoin's price based on its market cap. Try it for yourself to know the prediction.

http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html

There aren't too many places where it's illegal. Are you more talking about adaptation? I like that Japan is ahead of the curve, and I hope that other countries catch up soon!

Like I mentioned above, which is just me repeating what other analysts and speculators say, if BTC was involved in just 1% of the currency exchange of $5 trillion per day, you can get into the range of 6 figures per coin pretty easily. However, 95% of that is institutional, so the whole thing with CAME and possibly Goldman Sachs becomes pretty pivotal. Hopefully Bitcoin can prove itself there.
I read something else where if the offshore tax havens were to exchange their cash for Bitcoin, Bitcoin would show similar gains on 1%.

Will it happen, in the next 3 years? I would say that if it proves itself as a solid investment in mainstream futures trading, it could be adopted into ETFs within that time frame. That time would certainly give it time to gain market the cap to reduce volatility if all went well.
 
I'll be curious as to whether these altcoin projects bring in new money as they prove themselves out, or if they rob from BTC. Hopefully they just bring in more $ and can stand on their own independent of the movement of Bitcoin.

Screw what the banks say... they'll always protect their interests and that means trying to permanently damage Bitcoin's rep until they can figure out how to capitalize on it and not lose those fees for ATMs, ACH, wire transfer, etc.

[ahmad21]

McAfee said Bitcoin will be $500k within 3 years: https://www.cryptocoinsnews.com/john-mcafee-claims-bitcoin-will-worth-500000-three-years/

Do you think he's worth listening to?

it is quite possible, reasons behind his arguments are solid, I would say maybe it is a bit too much optimist but who knows... anyway it does not sounds crazy to me what he says

It might be possible but only if bitcoin crosses all the hurdles which it might face in its way to become such a valuable asset. If with 100 billion dollar market cap we could reach 7000$ we want a market cap of may be a trillion dollars. Its surely too optimistic.

[notthematrix]

Maybe he is saying that because he has his own ICO?

[jjacob]

This is certainly a bold statement, but at the bottom of my heart there is hope that this could happen. If people had told me a year ago that we would see Bitcoin scaling $7500, I would have only laughed at it. So, it is possible that such uber-bullish predictions do come true.

[thecodebear]

I think peak bitcoin price could possibly be in the $500k - $1 million range. But it's not gonna happen in 3 years. Though in 3 years I expect Bitcoin to be considered mainstream (institutional investors have mostly all hopped on board with at least a small percentage invested in bitcoin, more countries recognize it as a legal currency, Amazon accepts Bitcoin) at the very least as an investment, if not quite yet as a payment platform. Though it will still have a ways to grow at that point, I think it could be over $100k by then.

[KeenHero]

McAfee said Bitcoin will be $500k within 3 years: https://www.cryptocoinsnews.com/john-mcafee-claims-bitcoin-will-worth-500000-three-years/

Do you think he's worth listening to?

when u hold millions of bitcoin woldnt you say the same?

[Iranus]

some topology something method

This is what technical analysis does to people.  It makes them believe all sorts of crazy things about the long-term based on arbitrary patterns that they observe when they look at a chart.  Then when they mention how they came at their ridiculous value, people who are less knowledgeable in the subject sometimes get caught up in believing that it's reasonable.

McAfee is one of the personality that I admire here in cryptosphere.

If you admire McAfee's personality, I suspect you've never heard of him before.  He's an utter moron.

We are continuously hearing people like jamie dimon and  other CEOs of financial firms just terming bitcoin as a bubble,fraud.

He is a well known person and now a CEO of MGT capital investments.His words could not be just left unaddressed.

Right, so if someone rich says something bearish their opinions are irrelevant, but if they say something bullish then they're relevant?

[scottykarate]

some topology something method

This is what technical analysis does to people.  It makes them believe all sorts of crazy things about the long-term based on arbitrary patterns that they observe when they look at a chart.  Then when they mention how they came at their ridiculous value, people who are less knowledgeable in the subject sometimes get caught up in believing that it's reasonable.

McAfee is one of the personality that I admire here in cryptosphere.

If you admire McAfee's personality, I suspect you've never heard of him before.  He's an utter moron.

We are continuously hearing people like jamie dimon and  other CEOs of financial firms just terming bitcoin as a bubble,fraud.

He is a well known person and now a CEO of MGT capital investments.His words could not be just left unaddressed.

Right, so if someone rich says something bearish their opinions are irrelevant, but if they say something bullish then they're relevant?

Jamie Dimon's opinion is that of fear and ignorance. Do you hear anyone that stands to be financially damaged by Bitcoin....Dimon, Buffet, etc., say anything positive about Bitcoin? No. Why? Because it is a threat to the way things are currently done and big banks. Period.

[worldofcoins]

McAfee said Bitcoin will be $500k within 3 years: https://www.cryptocoinsnews.com/john-mcafee-claims-bitcoin-will-worth-500000-three-years/

Do you think he's worth listening to?

 Nice job finding a 3 month old article newbie.  but anyway, he might be right.  people will buy and keep buying, more gold fever, will create more gold fever.  It has been happening for a while.  The question is when it gets to 1 million is everyone gonna dump? 

[Sachinist]

It's well within the realms of possibility. I keep saying this to everyone but people keep making the same mistake.

Bitcoin has octupled(multiplied its value by within a year. If that happens again by this time next year, we're talking 50k+ and then 400k the following year. Forget what the value is in fiat, look at the %.