Dare to take such gamble?

[Crypt0Gore]

I was scrolling my page on Twitter as usual and I saw this post from a crypto guru, I don't know him but many people do say he knows how the market works. He put up a gamble worth of 2million USD, open to anyone who doesn't believe that Bitcoin will reach 1 million dollars 💰💰💰 in 90days, with the way he has been right with past predictions, this thread is making some noise on Twitter, but honestly, I found this prediction to be impossible, maybe I don't see what makes him believe that this is possible.



*My question for you*

Will you dare take such a gamble if you have the money? 🤑🤑🤑

[1713937815]

1713937815

[Jawhead999]

If you can afford to lose 1 BTC, why not?

Every person have different total wealth and how much they can make in one month, a rich person can afford to lose 1 BTC, similar like the twitter account you posted above where he can afford to lose $1 Million in USDC.

But if you ask me, I can't afford to lose 1 BTC, of course I will not take such challenge.

[karmamiu]

If you can afford to lose 1 BTC, why not?

Every person have different total wealth and how much they can make in one month, a rich person can afford to lose 1 BTC, similar like the twitter account you posted above where he can afford to lose $1 Million in USDC.

But if you ask me, I can't afford to lose 1 BTC, of course I will not take such challenge.

Precisely! If $30k or so doesn't hurt you that much then you can go and try to do the bet. Same calculation as to how much you'll earn in the timeframe of 3 months since he's giving you 90 days. Well, personally if I were offered that much and I have the capability to earn more than that within a month then I'll try to gamble, not due to TA's or anything but just pure gamble. Besides there is also no assurance that Bitcoin will reach $1M within that time frame, there's also a high chance that the price will stagnate to that amount for a couple of months or so. The odds are against him too and you can buy more after the gamble if you felt like it so it's still a win-win situation for me. How I wish I could make that much money in month.

[Maus0728]

I suspect that this person who posted a long winded post on Twitter did it for Twitter clout purposes

Come to think of it, it doesn't make sense that he believe the US dollar will hyperinflate, causing Bitcoin's price to skyrocket within 90 days, yet he willingly chose to store a million dollars in USD instead of just buying Bitcoin. Not to mention that this person was also a former CTO of Coinbase^[1], which implies that they likely have a significant amount of Bitcoin at his disposal waiting to sell at a higher price. It's highly likely that this Twitter post is just a way for him to manipulate the market and make a profit.

He just composed an extremely technical narrative of economics to make him sound credible on the outside without really knowing what he is actually talking about in the first place. And no, I barely understand what he actually wrote apart from that stupid bet and hyperinflation thingy..

[1] https://cointelegraph.com/news/former-coinbase-cto-makes-2m-bet-on-bitcoin-s-performance

[jrrsparkles]

I will take that bet cause I am damn sure that Bitcoin will not reach 1 Million in the next 90 days even if we are talking about 100K I will go for it.

Can you afford to lose 1BTC is subjective to our financial status but I don't believe in those kind of challenges since they are creating it for attention and nothing else so don't lose your hard earned money by lucrative challenges or bets.

[Lorence.xD]

If you can afford to lose 1 BTC, why not?

Every person have different total wealth and how much they can make in one month, a rich person can afford to lose 1 BTC, similar like the twitter account you posted above where he can afford to lose $1 Million in USDC.

But if you ask me, I can't afford to lose 1 BTC, of course I will not take such challenge.

True since we have different perspective when doing this bet especially the difference with wealth and assets. From the OP mentioned the guy who tweeted that bet surely can afford to lose a huge amount of that money. If its not true then he might doing it for the likes and retweet to gather more followers. But he seems like he could actually what he posted since he have a checkmark in his account which looks legit. As for myself 1 bitcoin worth a lot to me that I will surely sell and invest again due to needs of money. But from my experience, I haven't seen people who would really send that amount of money from twitter I actually seen a lot of post like the OP posted. If its true then he is really rich!

[coin-investor]

*My question for you*

Will you dare take such a gamble if you have the money? 🤑🤑🤑

Well why not, I'm not an expert in price speculation but this $1 million bet in 90 days reminds me of Mcafee's bet of cutting his cock if Bitcoin did not reach $1 million by 2020.
I'm not saying his prediction is impossible but the logic behind the $1 million in 90 days is quite hard to comprehend as the US will do everything for the dollar not to experience deflation, I like Bitcoin to reach I guess we all do but the US government are smart enough to let their dollar suffer deflation.

[SmartGold01]

This is a gamble and anyone who is able to provide 1 bitcoin or can afford to lose a bitcoin can engage himself with the game. I so much love such game being that within 90 days bitcoin will get to a million dollar. Now what is the certainty of that to happen is what we can't still unveil till date but could it be this might be the cause of SVB effects?

[ethereumhunter]

I'm not going to do it because it's too risky, even though I know that the price of bitcoin could reach 1 million dollars. But still, I take the risk to buy 1 BTC and keep it till 90 days later. I'd rather stick to DCA in buying bitcoin than buy outright and go along with the betting.

Maybe he could be right with his prediction but also wrong. But maybe some people will follow the bet by buying 1 BTC outright. I'm curious about who is willing to take the risk to buy 1 BTC outright and how it will turn out.

[Lida93]

Will you dare take such a gamble if you have the money? 🤑🤑🤑

There are much angles to this challenge and why must he use a betting strategy to drag people attention as a way to make them believe his prediction should be true since he's ready to place such amount of a million dollars as a challenge. All of these are ways to also cause traffic on his twitter handle and we all understand the benefits of high traffic and followership on Twitter. I believe bitcoin can hit any price in the next day, week months or year but for someone to come giving me figures with precision supported with a bet bargain then I have to be careful cause this is too good to be through.
Even if I have billions of dollars in my name that losing a million dollar wouldn't have an effect on me, I rather put in that one million dollar in buy bitcoin anticipating for his so-called prediction for the next 90 days stead of using it to challenge his prediction. One gat to be wiser mate!

[AmoreJaz]

This is a gamble and anyone who is able to provide 1 bitcoin or can afford to lose a bitcoin can engage himself with the game. I so much love such game being that within 90 days bitcoin will get to a million dollar. Now what is the certainty of that to happen is what we can't still unveil till date but could it be this might be the cause of SVB effects?

90 days is 3 months time, and the predicted amount is way way too far from the current btc rate. maybe, he knows no one will take the bait so he is bold in giving such dare. we all know, that's not gonna happen. wonder what he will do afterwards if this prediction won't happen? maybe, he will say he's just joking or of that effect.
even if i have the money, i will just buy my btc on my own and won't play with his game. if he is very sure of what will happen, then, he should be buying lots of BTCs by now. he doesn't need anyone to be in his little game.

[Maxre]

Ypu are right brah,.as we all know that still 1 Bitcoin is worth 27000 dollars and everybody cannot afford such money.
By the way he was just joking and that was tweet and that's why just don't take it too much serious too. So I will say that just chill bro. And now they are using these tweets for the bull trap too. So just be careful.

[swogerino]

If I had more than 1 Bitcoin in my portfolio I would surely take this,I would take 1 million dollars as for 90 days I doubt Bitcoin price will be more than 100.000 dollars let alone 1.000.000 dollars,I know in the long run Bitcoin price may surpass the amount but in 90 days I don't even think this is a gamble,for me this is just plain free money that the guy doing such thing can afford to lose 1 million dollars.

I know though that most likely this is not true from the Twitter page he just has thrown this kind of gamble for fun but if the guy truly want to do this,I can borrow 30k buy a Bitcoin and do the gamble because as I said it is free money or even better the guy sends 1 million dollar and I give him back 1 Bitcoin,for 90 days there is no risk for me .

[robelneo]

I will take that bet cause I am damn sure that Bitcoin will not reach 1 Million in the next 90 days even if we are talking about 100K I will go for it.

You're not the only one we are many here that do not believe that Bitcoin even if the prediction of the dollar's deflation could push the price of Bitcoin to reach $1 million, we are talking of 90 days of always believing the price f Bitcoin could eventually go to $1 million but its a gradual move just like what we've experienced in the past and until now

Can you afford to lose 1BTC is subjective to our financial status but I don't believe in those kind of challenges since they are creating it for attention and nothing else so don't lose your hard earned money by lucrative challenges or bets.

The one who made the challenge is willing to win or lose based on his status but it's the kind of challenge we here in the Bitcoin community knows how the market move will not create because who among here believes that in 90 days Bitcoin will reach $1 million.

[Rikafip]

I was scrolling my page on Twitter as usual and I saw this post from a crypto guru, I don't know him but many people do say he knows how the market works. He put up a gamble worth of 2million USD, open to anyone who doesn't believe that Bitcoin will reach 1 million dollars 💰💰💰 in 90days, with the way he has been right with past predictions, this thread is making some noise on Twitter, but honestly, I found this prediction to be impossible, maybe I don't see what makes him believe that this is possible.

I don't think that you understood his tweet correctly. His offer was not for anyone thinking that bitcoin won't reach 1 million and instead it was reply to a guy claiming that he is willing to take $1 million bet that US doesn't enter hyperinflation. Here's his tweet as well https://twitter.com/balajis/status/1636797265317867520


https://twitter.com/jdcmedlock/status/1636480393007489024

[bittraffic]

Balaji is actually famous, I just learned from a youtube video just today that he seems to be an insider in finance. He seems very confident about what is going to happen so that's the thing that made him bet.

But the majority would definitely not agree with what he is saying. It's just too fast that it will happen in 90 days. It hasn't even hit $100K which was supposedly the target in 2021.

[pooya87]

*My question for you*
Will you dare take such a gamble if you have the money?

I would definitely make such a bet (whether the twit dude meant it or not) BUT only in bitcoin not in dollar. Meaning if I had a million dollar worth of bitcoin (that is 36.21BTC with current price) I would put it up only against another 36.21BTC and I'd say price is not going up to $1 million in 90 days.

My reason about the rise is simple, it is impossible to see a 3750% rise in 90 days. The market is too big to see that kind of rise in such a short time. If it were until the end of the year (specifically next winter where the energy crisis is 10 times worse than previous one in the West) then I'd say the chances are a lot higher.

My reason for refusing dollar is that we know dollar is being dumped as more and more countries abandon it and we know that US economy is collapsing slowly as it is evident by the banks that keep going bankrupt. Dollar in my opinion is the most risky currency in the foreseeable future, which is from now till at least next 5 years. $1 million today may not be worth that much in 90 days. Although I also have to say that this doesn't mean I think US will enter "hyper" inflation (as this bet seems to be about), that bet is also silly. Higher inflation for sure but not hyperinflation.

Not to mention that bitcoin for bitcoin is easily done through the 100% secure bitcoin smart contracts inside the immutable bitcoin blockchain without needing to go through a shitcoin specially not a centralized stable shitcoin like USDC.

[lionheart78]

If I have money I can bet against Balaji on his dare about Bitcoin reaching $1m by 90 days.

Though the bet offered by Medlock is about the US not going to experience or enter hyperinflation.

The wager was initiated on March 17, when pseudonymous Twitter user James Medlock offered to bet anyone $1 million that the United States would not experience hyperinflation. A few hours later, the former Coinbase executive accepted the bet.

Balaji take the bet and instead give his term of Bitcoin reaching $1m because of the US hyper inflation.

Under the proposed terms, if Bitcoin’s price fails to reach $1 million by June 17, Medlock will win $1 million worth of the dollar-pegged stablecoin USD Coin
USDC and 1 BTC. In the same way, if Bitcoin is worth at least $1 million by the date, then Balaji can keep the 1 BTC and the $1 million in USDC. Srinivasan explained in the thread:

Besides Medlock Balaji also bet another $1m proving his point of view.

Per the thread, other Twitter users helped set up a smart contract with the betting terms. Srinivasan also disclosed that he would move another $1 million in USDC for another wager on the same topic:

Balaji Srinivasan also stated:

“I am moving $2M into USDC for the bet. I will do it with Medlock and one other person, sufficient to prove the point. See my next tweet. Everyone else should just go buy Bitcoin, as it’ll be much cheaper for you than locking one up for 90 days.“

In my point of view, US may enter hyperinflation but I do not think that Bitcoin will reach $1M  in 90 days, I think that is too early for Bitcoin because the hype of the market isn't fully geared yet.  Balaji may have a greater chance of winning if the bet is done after the Bitcoin halving of 2024.


Source:
https://cointelegraph.com/news/former-coinbase-cto-makes-2m-bet-on-bitcoin-s-performance

[Dimitri94]

Such news is nothing but mockery. Where Bitcoin has repeatedly prepared to go to 100K but failed. $1 million in just 90 days is an unimaginable feat. He also bet on it. If this had been a sports match I would have believed that this win could have been fixed. But Bitcoin has no control over anyone. How can set such a big bet?

[OgNasty]

I would bet against that all day long. Anyone would. If you owned any BTC at all this would be free money basically. If the price does go up that high then you’re insanely rich from your holdings, and if it doesn’t then you win a ton of money from someone who let his mouth write a ridiculous check that anybody would cash if given the opportunity to do so.