Bitcoin rate will increase to $1,000,000 in three years - McAfee

[Cyberczar]

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.

[xBitHodler]

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.

[jerry0]

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

[Andre_Goldman]

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.

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     

[darkangel11]

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.

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.

[FasTroy]

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.

[khaled0111]

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).

[Yakamoto]

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.

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.

[Clark05]

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.

[Orange Mango]

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.

[Muhammad Muneeb]

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

[rowandg]

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!?

[rudox]

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.

[fulmetal08larz]

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.

[ekolet]

Isn't he too rich for attention whoring?

[ahmad21]

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.

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.

[valentinen39]

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.

[Momoamzad]

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.

[Prateekhunter433]

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.....

[nkkb]

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.