ETH Price to $200,000 in 3 Years? BTC to $500,000? Really?
John McAfee recently claimed that within just 3 years, he thinks that the price of 1 BTC could reach $500,000, and that 1 ETH could reach $200,000. In this video, I'll be sharing my thoughts on whether or not I think that's possible.
DISCLAIMER: This is NOT professional advice. I am just offering my opinion. I am not responsible for any investment decisions that you choose to make.
***I am in the process of adding many of my videos from YouTube on to DTube. Apologies for any posts that you've already seen before!
Original date of upload: July 25th 2017
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Ya, it's funny how they worry about the idea of holding cryptocurrency, but then they hold cash. It's basically a projection for their own fears about what they're doing.
Except theirs is like the ass-end of the equation. With crypto, maybe there's risk but there's also huge upside. With fiat there's no upside and a way more likely downside.
Ya, predicting prices in terms of fiat is always murky.. it could be worth trillions if the fiat is worthless enough
I don't think it's impossible that governments will start backing their currencies by crypto. They could strategically own some or be in the process of getting it.
People talk about the possibility of a "FEDcoin", like governments coming out with their own blockchains. They could, but if it's centralized it won't be as secure and imo won't stick longterm. It seems smarter to get Bitcoin ahead of time and just guarantee that a dollar can be redeemed for X amount of btc, and then they avoid the chaos and have a softer landing away from the fiat system. And they still hang on to some aspect of control that way and don't have to admit that the currency failed.
It's possible, but I just don't think it's very likely. Why? Because the higher the crypto markets go, the more liquidity leaves the legacy financial system. You see where I'm going with this?
There will be massive push back against cryptos from governments at that point. That is when the real war begins!
Yeah whatever way I look at it I do grow more and more concerned about this, sure there are governments supposedly looking to port over onto Blockchains but whichever way we look at it, Blockchains will transform governance and potentially reshape the willing ones irreparably, a factor that really could lead to hostility.
It's possible but maybe not that probable. I have the same thoughts about the macro economics in the world. How do you think cryptos will be affected if we go in to a major ecomonic crash? I'm sceptic about people investing in digital currencies which is still something new and uncertain to most people.
I think that people is skeptical because money is one of the only things that you can use to buy everything. Yes, gold can be used as a way to keep your money secured, but you can trade gold, and very rarely buy something with it.
Unfortunately, people believes in what they see, and what they know best, and you can't convince a monkey that honey is sweeter than a banana, or can you?
But you're right, with time results will come. Houses will start dropping, cash will get devaluated year by year, and everyone will be aware of everything but probably way too late, and at a really big loss.
Louis I LOVE your channel, you are one of the YouTubers who I am glad to follow on this amazing amazing site, I am also YouTube content creator who translated to steemit and DTube, content creator like you inspire me to post videos over here :)
I've got to say that in all likelihood people are just mad... I don't see how Ethereum could hit 200,000 there isn't enough money in the world to put into Ethereum for it too hit that much. The various currencies wont devalue to an extreme amount enough to hit that level and Ethereum's velocity will ensure that at its worst it would at peak be a 10,000 dollar coin. AT WORST!
wow that would be awesome
only for some lol
All I van say is wow...maybe I better hang on to that .01 of Bitcoin I have...lol
This is an extremely long comment on the Venezuelan situation, be warned.
As a Venezuelan, living in a small city I can confirm that value will shift when you experience a collapsed economy. You will start to value essential things like that will start to become luxuries: water supply, stable power supply, hot water to shower, food and a varied diet, communications systems from landlines to internet service. The devaluation of your fiat combine with hyperinflation will make you a convert on any kind of decentralized system of money that gives you a sense of purchasing power and hope for the future.
Let me expand on each topic a bit, talking by my own experience.
Water supply has collapsed in residential areas consistent of buildings. I know first hand of people who live with 2-4 hours of running water supply a day, and some who live with 1-3 days of running water a week. You might think it's not that bad, but that means, a lot of hassle to cook, avoiding going to the bathroom for hours (drinking less water), not being able to shower daily, or wash dishes, and so on.
Unstable power supply and constant power outages these will affect all you electronics, my light bulbs last less than a couple of months because of this and some people have lost the their fridges, computers and others to these outages. Everytime the power goes down in one part of the city, access to internet goes down as well and for a freelance designer like myself, this is a bit of a nightmare to reach deadlines. If you go outside during a power outage, some traffic lights won't work, traffic jams will increase and the risk of getting into a car accident becomes significant.
Hot water and food If you take for granted your hot shower and coffee, these will also become somewhat luxuries. One reason is that stove gas service has completely collapsed (lack of supply, corruption inside the companies that should supply, and other factors). This has forced us to switch from stove gas to electrically powered water heaters and cooking gear. The switch combined with the power outages are a recipe for disaster, preventing you from cooking or having a warm shower when you most need it.
Lack of food Packaged foods and non perishables, that should be available in times of struggle have become increasingly scarce. Tuna, sardines, toothpaste, and other essentials are pretty difficult to find and extremely expensive. When you are lucky enough to find and afford these, it's of utmost importance to store them. I've stored many grains such as rice, lentils, beans of many kinds, oats, sugar and salt in my fridge enough for sustaining months of a possible famine. People with low incomes and no access to these high prices are in a critical situation.
Failed communications Text messages won't go out at times, cell phone service will become unavailable as well. Some people started robbing the copper wiring that gives access to landlines to sell the copper inside them, leaving many of my friends without landlines. So, it is true that precious metals will become increasingly valuable. Even manholes were being stolen to sell for their iron component. I'm not kidding. Some of these have been replaced, but many landline wiring remains unreplaced and communications companies don't have enough resources to fix this.
Hyperinflation, local currency devaluation and lack of cash The lack of printed money encouraged many illegal business models i.e. because banks will only give away 10 thousand Bs. to each person cash daily (equivalent to $0,004) people with available cash started reselling it for a 50%-100% commision. That's right, if you need $10 bucks in cash, you will have to pay up to $20 in a bank transfer for this cash. Cash is really hard to get, but many services still work on a cash-based system only: transportation especially. So, no cash means no transportation for you, unless you bike or walk. With hyperinflation, food prices go up 30-200% from one week to another, and sometimes from one day to another. Once I had to pay for a car part and they increased the price from the morning to the afternoon. true story. A university teacher of the highest rank is earning the equivalent to $6 a month and basic food essentials are up to around $0.5 per item. This makes cryptocurrencies a no-brainer alternative. Although people with no access to internet and technologically savvy enough will still struggle to join the crypto market.
Being with family and friends will become extremely valuable, the sense of connection will prevail over anything else to remain hopeful in a country with a bleak future.
Thank you for mentioning our situation Louis
Independence versus dependency could be the theme of your post. Preparedness I think is key to maintaining a stable environment for yourself and family.
That's a good title suggestion. And yes, that's true, my fridge has more food in storage than I actually use, but some things you can't really prepare for. Thanks for reading and commenting @copythesewords.
I think that it would be a stretch for BTC and ETH to reach those sort of levels but crypto currencies have always done the impossible