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RE: Right on que, McAfee backs off $1 Million Bitcoin call
I love McAfee. He's such a fucking unpredictable wild card. His hookers and blow antics really crack me up. That being said, anyone who believes what he has to say without any evidence to back it up deserves the consequences.
According to my Moore's Law predictions the highest Bitcoin could get by the end of the year is around $128k. However, the more accurate prediction would be $250k by the end of 2021, seeing as Bitcoin seems to spike at the end of its 4 year cycle based on halving events.
On a side note, comparing Bitcoin to the Model T is a huge mistake. You can't compare a physical asset to a digital one. Ten years ago, the Bitcoin network looked nothing like it does today. Ten years from now, the same will be true. You can't upgrade a physical asset the way you can a digital one. It's the same mistake everyone makes when they compare cryptocurrency to the dot com bubble. These things aren't comparable in the least bit.
It would be better to compare bitcoin to the automobile frame as opposed to the Model T. Bitcoin is a network that can be built upon.
Yea, according to past trends, 2021 would be when we should expect to see the real fireworks in terms of price appreciation.
In terms of McAfee, I really thought he would find a more clever way to get out of his call than this.