"Blowhard" Predicts $1 Million BTC By 2020!

https://www.youtube.com/watch?v=epObQ1AujyQ

"John McAfee, founder of McAfee Associates a well-known software company  has always been Bullish on Bitcoin, in fact, he has even been confrontational on the fact.

In July, with a lot of fear and uncertainty surrounding Bitcoin ahead of its Aug. 1 chain split, McAfee came forward and stated boldly that he was willing to stake his name and up to $10 mln on a bet that the Bitcoin price will move above $500,000 within three years or he would "eat my d**k on national television."

That prediction was seen as ludacris at the time, and many were left wondering how his on-screen promise would play out - however, now that Bitcoin has crossed $11,000, McAfee is not sitting back smugly, but rather raising the bar.

The outspoken tech mogul has now said:

“When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bitcoin at $1 mln by the end of 2020. I will still eat my dick if wrong.”

Source : "John McAfee Doubles Down, Predicts $1 Mln BTC, Bets His D**k On It" 

            [ obf sez: Too funny! Mr McAfee used some sort of supposedly "predictive" model of his to predict a future price, but he got it wrong, and so now, of course [:-) ], he has a new model to use! Whodathunkit? What could be simpler ? This "techno-narcissist" knows all! [because his latest model is infallible].

The underlying psychology of this person is no different from any other person using an economic model, be they an "investment advisor", an economist or something else. Just another know-it-all [great for entertainment value :-) ].

Summary: "Houston , You Have a Problem"

And so, dear reader, if you really believe that Mr McAfee [or any other "techno-geek", let alone any regular "investment expert"] can successfully, consistently predict the financial/economic future, via the implementation of some secret [ no doubt algorithm- rich] formula, then I would suggest that you, like Mr McAfee himself, have a serious problem and should seek help.

See: "Do Not"Invest"In Bitcoin! [Or:How to Safely Profit With Bitcoin Etc.] "

Also: The Folly of Forecasting

                     

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Regards, Financial Safety Services: onebornfreeatyahoodotcom

Got Money You Can Afford To Lose?[How to Safely Profit In Stocks,Gold,Crypto's etc.]

 Financial Safety Services Disclaimer 

Got Money You Can Afford to Lose? Or: How to Safely Profit In Stocks, Bonds,Gold, Crypto-Currencies etc.

FREE! Financial Safety Services Free All-Weather Speculation Suggestions!:

Step 1: Divide your total savings to date into 2 "piles" :

[a] money you cannot afford to lose,

and...

[b] money you can afford to lose.

Got No Money You Could Afford To Lose?

If you have no money you could afford to lose, don't worry, just ignore all of the speculative suggestions given below. Do not speculate with money you cannot afford to lose! 

Much more importantly, the money you cannot afford to lose needs to be safe, in a neutrally balanced,  long term, non-predictive savings plan similar to this one.

If you still wish to speculate [ in whatever], in order to get money you could realistically afford to lose [if you do not have any at the present time], you are first going to have to acquire, earn, save/put money aside that is in excess of current needs and expenditures and long term savings requirements.

 Got Money You Could Afford To Lose?

Use only money you can realistically afford to lose for any of the following speculative ideas. These suggestions are for pure speculations [i.e. bets, or gambles] - I'll say it again: don't risk any money you cannot realistically afford to lose, _EVER_.

Got it yet? :-) .

Banking Crisis Ahead?

Do you believe that a banking crisis is coming?

Suggestion: buy put options* on bank stocks 

[ using only money you can afford to lose].

 Inflation Ahead?

Do you believe that inflation is coming?

Suggestion: buy gold or call options* on gold, 

[ using only money you can afford to lose].

Recession Ahead?

Do you believe that a recession coming?

Suggestion: buy put options* on stocks or stock indices 

[ using only money you can afford to lose].

Government Debt Crisis Ahead?

Do you believe that the debt crisis is going out of control?

Suggestion: buy put options* on government bonds 

[ using only money you can afford to lose].

False Alarm Crisis Ahead?

Do you believe that a false alarm "crisis" is coming?

Suggestion: buy junk bonds - which should profit considerably when interest rates fall sharply 

[ using only money you can afford to lose].

Everything's going to Be A O.K.?

Do you believe that the economy will "muddle through" somehow?

Suggestion: buy stocks of companies you believe would most profit 

[ using only money you can afford to lose].

Deflation Ahead?

Do you believe that a deflation is coming?

Suggestion: Buy 30 year US treasury bonds, or the equivalent if you are not living in the US 

[ using only money you can afford to lose].

*An option is a security that profits if a stock, stock index, or whatever, goes up [ call option] or down [put option]. As options have very short lives, typically no more than 9 months, they usually expire worthless. Therefor any speculation made with "play money" via options should only utilize a small part of the "play money" total, otherwise you could lose all of that "play money" within a few months.

Regards, onebornfree. Quesions/comments:  onebornfreeatyahoodotcom.

 Financial Safety Services Disclaimer