Massive Spike in Bitcoins Causes John McAfee to Make An Outrageous Prediction, Promises to 'Eat His Own D*ck' On Live TV

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Now this is the sort of story you're all interested in reading about. I can see it now, 'man forced to eat his own penis after bitcoin bet goes sideways.' This is the indelible position John 'Jungle Killer' McAfee has just placed himself into. Unbelievably, he's wagered to eat, mind you, his very own dick should the price of bitcoin not rise 22,636% to $500,000 inside of three short years. Here is the Twitter thread where this outlandish bet was forged and made. Thus far, it appears McAfee has the upper hand in this death bet, with bitcoins rising by an astounding 14% since yesterday's trading price. Even still, it will take a rally of monumental proportions to save the penis of John McAfee, who, obviously, places little value on his human anatomy. It's worth noting, McAfee's new company, MGTI, fashions themselves to be North America's largest bitcoin miner -- leveraging up to purchase high powered machines to mine the valuable cryptocurrency. You can peruse his cocksure twitter feed, where he's challenging a sundry of normies to six figure bets based off the eventual price of Bitcoin. He wants money to be held in escrow and will do a minimum of $100k. He quite literally placed his balls where his mouth is. Let's just hope it all ends up well for Mr. McAfee, as we'd all prefer to see him walking around, virile, with purpose, and placing future bets on his seemingly expendable and valueless penis. No word on how he intends to ensure the removal of his penis by betting participants, who take him up on this venture.


AUD Mon, 07/17/2017 - 21:13 Permalink

If the bet goes pear shaped for McAfee, maybe that Asian guy from the other bitcoin post might need the money & 'eat' it for him, on national television.Rather than McAfee mutilating himself I'm saying.

Bunga Bunga techpriest Mon, 07/17/2017 - 23:34 Permalink

Your math is wrong. Only a small fraction of the coins have to be traded to get to that price. When the price goes up, most existing coins won't be for sale, only a part of the newly mined coins in order to cover the cost of mining. Currently 657,000 coins are mined per year, which will go down mid 2020 to 328,500 per year.

In reply to by techpriest

King of Ruperts Land Bunga Bunga Tue, 07/18/2017 - 01:09 Permalink

If in 2020 Bitcoin is at $500,000, and assuming net inflows are equal to the mining reward, then net inflows per day would be:

6.25*6*24*.5million= $450,000,000

Crazy, but not impossible for the most wildest financial phenomenon ever (assuming its 2020 and BTC=half million).

To go up 250 fold in three years (which it has before) that is an average compunded daily rate of 0.5% per day.

In reply to by Bunga Bunga

TheRideNeverEnds Michael Musashi Tue, 07/18/2017 - 02:54 Permalink

Who wants to bet that in a few years when BTC is over 500k and gold is still under 2k that there will be daily articles about buying gold?

Side bet, how many people who sunk massive amounts of money into the shiny pet rocks will have killed themselves once BTC is over 500k?

Lastly, when BTC is over 500k in a few years how many zeros will be in the Nasdaq price? I'm thinking at least five. /NQ 500,000!

In reply to by Michael Musashi

sprintjump Aubiekong Mon, 07/17/2017 - 22:44 Permalink

That was my first thought. But, let me pose a question: There have been articles stating that almost half of the US cannot cough up a $1000 in an immediate emergency. With that said, if there is simply very little true cash in the hands of everyday people, how can we experience hyperinflation? If the markets were to pop, what cash is there to cause "million dollar" loafs of bread?

In reply to by Aubiekong

stacking12321 sprintjump Tue, 07/18/2017 - 01:06 Permalink

Easy: the "money" will get printed into existence, even if people don't have any now.

Next crisis, fed will be busy, printing fedbux for cash for clunkers II, student loan bailout, homeowner bailout, every bailout you can imagine. Maybe throw in a bernanke(helicopter drop) of $10k per citizen.

They will pull out all the stops when this next crisis hits, because anything less than shock and awe by the fed will be viewed as a whimper, after the $trillions we've seen carelessly thrown around last few decades.

In reply to by sprintjump

rbianco3 sprintjump Tue, 07/18/2017 - 03:56 Permalink

I believe we will see price deflation more- because this is what causes companies to go out of business. Once supply has been consumed, then panic sets-in and demand goes through the roof for what little supply there is and inability to replace it. We could have skipped the deflation part- but I think that it was a difficult thing to control- they had to predict years in advance. Persons having less than a $1,000 alone would be enough to drive massive hyperinflation- if the supply was limited due to industrial shutdown as a result of deflation and inability to turn a profit. Or my more far fetched methods the supply could be limeted such as John Galt. And of course there's grand solar minimum that will likely cause climate challenges that could affect supply of food. One the supply line starts falling- that's when the prices go parabolic. My humble opinion and I think we've got maybe ten years.  

In reply to by sprintjump

Jimmy Jimmereeno Mon, 07/17/2017 - 21:54 Permalink

Mr. McAfee may be a tech maven but he has no idea what goes on in human-psychologically driven markets.Following the June 10 Bitstamp high at USD2980 the market dropped in a 3-swing move to USD2120 on June 14.  That is a classic A-wave.  From its low the market ralllied in a 3-swing move to USD2789 on June 20, a classic B-wave.  The combined 3 swing selloff and the 3 swing rally define an A-B sequence.  That implies that a 5-swing sequence will follow the USD2789 high.So far we have seen a probable 3-swing move down to USD 1830 on July 15.  Therefore, we expect the current rally from that low to be part or all of a fourth swing.  But the ultimate low in this sequence, i.e. 5 down from USD2789 will undercut USD1830. We think the A-B-C sequence low is going to be around USD1685.  He had better be prepared to eat dick.

Vilfredo Pareto Jimmy Jimmereeno Tue, 07/18/2017 - 05:07 Permalink

Exactly.  Just because you know something in one area does not mean you know something in another.  He just sounded off and didn't even do basic back of the napkin calculations like ZH readers. But McAfee is still my hero.  He got either the CIA or NSA on his ass in Belize.  He knew it too.  Lesson: Do not associate with top hackers lol.  There are no surveillance rules once you leave the USA lol.

In reply to by Jimmy Jimmereeno

oDumbo Mon, 07/17/2017 - 22:36 Permalink

Given that 80% of bitcoin is mined in china, I'm kinda pulling for the crazy bastard, at least he's mining in the US.  Kind of like the Russians, through the uranium mines here that Hitlery gave them for the $2 million kick backs to her Canadian non profit slush fund.  Fucking cunt!