To put Balaji’s $1M BTC in 90-days bet in context, this means the cuckbuck price needs to double from its current level with roughly every difficulty adjustment for the next 6 cycles
Discussion
$1M would be insane on many fronts. He’s basically signaling the final nail in the coffin for the fiat system.
I’m tempted to take his bet and ask him to double down. We may be going there long term, but we ain’t going there in 90 days.
There’s a good chance his play is to accelerate adoption and also rescue as many people as possible. Directionally, he’s right, but I have doubts about 1M / 90 days. It’s more likely we fall somewhere in between, but I could see 100k no problem.
Its a hell of a bet to try to basically trigger people to fomo to help themselves
Agreed
Hypothetically, if he has $10 million worth of bitcoin, pumping the price even 10% with his bet is a wash (0 risk) bet.
The more bitcoin he has, the lower the risk.
Anything that pumps his bags more than $1,000,000 is just gravy money.
Ele disse em um post que acredita em 1 milhão através de uma possivel hiperinflação nos Estados Unidos... ou ele sabe de alguma coisa grande, tipo um calote dos EUA e colapso do dolar ou é só jogada de marketing mesmo.
That would be a giant bubble. The leverage would be insanity, the hysteria would be palpable and many would get rekt. It’s interesting to think about.