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At only $50, John McAfee explains where #Bitcoin value is derived from: User adoption Network effect Cost of mining Exiting fiat “Temporary fluctuations are meaningless” Rest in peace to a Bitcoin legend 🙏🏽

The ₿itcoin Therapist

266,722 subscribers

140,265 Aufrufe • vor 2 Jahren •via X (Twitter)

Finanzen #Bitcoin

Anya Rossi• Live Now

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10 Kommentare

Profilbild von alpha CAPCOM

alpha CAPCOMvor 2 Jahren

The guy knew about the hidden secrets.

Profilbild von spoonman

spoonmanvor 2 Jahren

Bitcoin was at $4400 around this time, not $50.

Profilbild von Bitcoingirl1710

Bitcoingirl1710vor 2 Jahren

Mark Cuban was a bubble!

Profilbild von DΛVID

DΛVIDvor 2 Jahren

RIP

Profilbild von Paolo 🤌🏻 Aga

Paolo 🤌🏻 Agavor 2 Jahren

But BTC isn't bitcoin: How can you get user adoption with high onchain fees and broken LN? Network effect is a gift because of the brand. Exiting fiat with something you can't use? That's why BCH is Bitcoin and it has real value.

Profilbild von Mihir

Mihirvor 2 Jahren

Do not forget what he said in the end "The more people use Bitcoin, the more value it creates" The usage part hasn't happened yet - what people are doing is holding instead of holding so be careful about it. 👉John had supported it with a condition so don't forget the condition.

Profilbild von Angelo Bruno- DefiDon

Angelo Bruno- DefiDonvor 2 Jahren

Legend 🐐

Profilbild von Alex DRocks

Alex DRocksvor 2 Jahren

Imagine having 100$ of it at that time

Profilbild von car

carvor 2 Jahren

Rip a legend 😔

Profilbild von Ulrik K. Lykke

Ulrik K. Lykkevor 2 Jahren

McAfee highlighted foundational value drivers well. The intricacies of Bitcoin's value extend into its deflationary design and the increasing institutional adoption, which further solidify its investment thesis.

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“Bitcoin is better at being Gold than Gold is Bitcoin is better at being Fiat than Fiat is.” Was true in 2021. More true today. Bitcoin is the first store of value in human history, where its supply CAN NEVER be affected by any amount of increased demand. Focus, run the math.

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“Bitcoin goes to 0” John McAfee claimed people only trade BTC, but no one uses it. To have value a crypto needs to be used. Is Bitcoin the next reserve currency or a worthless fad that fades in the era of utility?

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The average cost to mine a single Bitcoin is now over $90,000. The price of Bitcoin has collapsed to $67,000. Everyone mining Bitcoin at the moment is losing a fortune.

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"Where are the servers of Bitcoin located?” - Prof Jiang That single question from Jiang shows the misunderstanding immediately. Bitcoin does not run on one company’s servers, Bitcoin runs on a distributed network of nodes spread across the world, which is exactly why it is hard to censor, shut down, or control, plus the mining system on top of it to protect it with energy. When someone frames Bitcoin like a centralized system, they are not critiquing Bitcoin as it is. They are critiquing a version of Bitcoin that exists only in their own confusion.

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