John McAfee is Confident Bitcoin Can Rule the Crypto Space
Crypto magnate John McAfee continues to affirm that Bitcoin (BTC) is the leading cryptocurrency in its ecosystem. He is pretty sure that the BTC value will soon reach one million dollars.
John McAfee, one of the most popular cryptocurrency-based celebrities in the crypto space has recently told AMBCrypto at the CoinsBank Blockchain Cruise that Bitcoin definitely deserves to be the No. 1 in the crypto market.
McAfee is known for his involvement in promoting and defaming crypto assets. He knows exactly what and when to claim, as well as how to bring arguments to support his comments.
Recently, McAfee claimed with confidence that by 2020 Bitcoin should go up to a million dollars in its value, if we look at it from the mathematical perspective. This can be concluded if we take into account the link between the quantity of mined Bitcoins and the difficulty this activity involves.
“Why don’t we look at the last Bitcoin? We have thousands of people to mine one coin. What is that coin going to be worth? Maybe billions. Mathematics doesn’t lie. Say what you want, mathematics doesn’t lie. If it’s not a million dollars in 2020, it has to be. The end of 2020, December. That’s my prediction, I’m going to stand by it…it is the number 1 coin for processing transactions. Run the numbers.”
In McAfee’s view, the activity behind cryptocurrency mining is without a doubt profitable. According to his states, there is always a sustained percentage of profitability that goes to miners regardless of the BTC price.
“ No matter what the price of Bitcoin, you cannot lose money by mining Bitcoin. Let’s say the price drops to $2000, everybody gets out, and the difficulty rate drops to zero, and you’re cranking out millions of coins per day.”
John McAfee will take part as a speaker during the Malta Blockchain Summit 2018 organized on November 1-2.
“Stay true, stay the course, and hold. There is no such thing as a wealthy short-term investor.”
Author: Adriana Midrigan