John McAfee: What Idiot Could Believe Such Nonsense?
A notorious personality in the crypto community, entrepreneur John McAfee not only refused to give the forecast for BTC rate at the end of this year but also called the idiots those who believe that one Bitcoin would cost $1 million.
One forecast between love and hate
Recall that in 2017, in the midst of a bull race, John McAfee promised to publicly eat his baby-maker if the BTC rate does not reach $500 thousand by the end of 2020. As Bitcoin grew, McAfee doubled the bet to $1 million. And all this time he actively defended his position.
He was optimistic until January 2020, when the entrepreneur changed his point of view and called Bitcoin “a real shitcoin”.
Public walk it back
Seven months before the deadline, McAfee decided to publicly walk it back.
“I'm the person who predicted Bitcoin, the most crippled crypto-tech, would reach $1 mil. Are you one of the persons who did not see the absurd humor in it? I posted it on the same day I predicted Whale Fucking would replace Surfing as the number one water sport. Wake up!”
Math lesson by McAfee
In the following posts, he continued to explain his new position and tried to mathematically show that BTC for $1 million is impossible.
“If Bitcoin ever hit $1 mil, it's market cap would be greater than the GDP of the entire North American Continent. What idiot could believe such nonsense? Whale Fucking is a thousand times more likely to make its way onto the Olympics Stage”
Though McAfee did not specify the data he used on in this calculation. The fact is that the GDP of North America is $23.4 trillion. 18.5 million coins were mined in the Bitcoin network, that is, if the market price of one BTC is equal to $1 million, then the total capitalization of the coin will be $18.5 trillion, which is almost 5 trillion less than the GDP of North America.
What about the promise?
Recently, the famous bitcoin maximalist Giacomo Zucco asked McAfee on Twitter if he was ready to dine with his genitals if BTC rises to $1 million. But the scandalous businessman completely changed his mind is not going to keep the promise.
In April of this year, he announced the release of his own digital currency, which will focus on anonymity.