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Can anyone who is on BT show me a tweet where Balajis actually says Bitcoin is going to $1M in 90 days?

Lots of ‘influencers’ are saying this but I think their reading comprehension is lacking. Balajis made a $1M bet but nowhere do i see a price prediction. Way too many people are harping about this dumb hopium.

🙏🏻

chowcollection 2y ago

“Yes. Just moving money for the bet. We can do it via smart contract, but for simplicity old-fashioned escrow may work.

The escrow person would need one BTC address and one ETH address (for the USDC). The assets would sit on chain for 90 days.

If BTC < $1M in 90 days after escrow, then you win and get both the 1 BTC and the $1M USDC.

If BTC > $1M USD in 90 days after escrow, then I win and get both the 1 BTC and the (now worthless) $1M USDC.

@cobie has escrowed bets of this kind before. I propose him. If not, perhaps @ByrneHobart or @profplum99. Let me know if any of those are acceptable to you.”

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Discussion

chowcollection 2y ago

https://twitter.com/balajis/status/1637025637901938689

SURF⚡️ 2y ago

Thank you, looks like i was wrong and missed this. That’s insanely bullish and also kinda apocalyptic honestly. That kind of price appreciation would mean a lot of other terrible things would be happening. Not great nor something anyone should cheerlead imo.

chowcollection 2y ago

To be clear: Balaji is putting up the $1M USDC and he is asking Medlock to buy 1 BTC at the current price and put it in escrow.

Ryan 2y ago

People are trying very hard to parse what he said as “not a bet on BTC price” for some reason I don’t understand

SURF⚡️ 2y ago

Whole thing is a bit crazy to me honestly. Not loving it but interesting to watch.

Ryan 2y ago

No idea why someone, even a rich person, would just burn two million dollars, but what do I know

rejon 2y ago

He is a focus multiplier :) Thankyou

chowcollection 2y ago

I’m just looking at it as a giant warning to all nocoiners

SURF⚡️ 2y ago

Maybe thats the takeaway…

chowcollection 2y ago

If he’s right then nocoiners are gonna have a bad time, and there are ~40x more nocoiners than there are Bitcoiners. I don’t think Bitcoiners care either way. So if any nocoiners buy Bitcoin because of this, maybe that’s a win?

SURF⚡️ 2y ago

Yeah maybe his thought process is just using the bet as a siren and wake up call by being insanely extreme.

$100k prediction wouldn’t be that unreasonable, but $1M would be like a 20 trilly mcap or something which is bonkers to me personally. I don’t like to think of the overall collapse that has to happen to get to that number. It’s not a good scenario for anyone.

chowcollection 2y ago

I don’t understand why it has to go hand in hand with destruction and collapse? Wouldn’t it just take a few percentage points of current wealth to bring it to that number?

SURF⚡️ 2y ago

I would hope that’s the case but regardless of the asset, having 19.5 trillion dollars flowing into something that fast usually would mean something is happening on the flipside of it all. I just don’t see whatever that flipside is being a good thing.

I don’t know much nor pretend to know much as the entire system is so very complex but just seeing that kind of potential movement that fast worries me.

chowcollection 2y ago

No it doesn’t take $20 trillion to bring it to $1M per Bitcoin

SURF⚡️ 2y ago

Thats right. I didn’t clarify that well. But my point still stands as that is a crazy increase in mcap in no time at all and would be like nothing anyone has ever seen.

I’d be all for it though, assuming no negative externalities but i just personally don’t see that happening in such a short timeframe.

Wealth Theory 2y ago

It would mean hyperinflation which will have massive tail effects. Starvation, civil unrest, mass unemployment..

SURF⚡️ 2y ago

This is my entire point. In that short of a timeframe things break. Everyone knows the titanic is going down, but if you want it orderly you need it to go down slowly so people can get on the lifeboats. 90 days is not slow, its insane and i don’t see any scenario where btc hits $1M that fast and things stay orderly.

Very much the ‘don’t fuckin dance’ scene from the big short. I don’t want to get ‘rich’ at the extreme expense of others because if things break that much and that fast its bad for everyone imo.

Wealth Theory 2y ago

It’s the new Mcafee “I’ll eat my dick” publicity stunt imho.

Aaron 2y ago

🤣🤣 Good old john sadly missed.

SURF⚡️ 2y ago

Lol. At least Mcafee was more entertaining with his predictions. 🔪 🍆

Sikto 2y ago

💯 A desperate starving bear will eat its young. If the world is burning, what are all those people who don’t hold bitcoin going to do? Nothing is more scary to me than a desperate majority. We need more time to build the rafts.

Aaron 2y ago

All the Bitcoin in the world won't get you a couple of tins of bean if the infrastructures go worldwide no internet banking just outright War.

Plans need to be made.

⚡️Rony₿oy⚡️49 2y ago

Hes saying that hyperinflation happens fast by showing this chart

thepurpose 2y ago

💯 & if any weak hand bitcoiner decides to keep it's stack untouched or increases instead of lowering their stack in favor of worthless fiat, then I consider it a win and a small step for reaching the requested intensity of #BitSignal

SURF⚡️ 2y ago

Balajis made a comment in his twitter spaces last night subtly hinting at this. I think he is aware that his price target is insane for such a short time frame BUT it is great marketing and will get eyeballs and minds thinking about having an exit valve. 🤙🏻

SURF⚡️ 2y ago

Yes i saw this part and was under the assumption (wrongly) that people were taking that as a price prediction, but i see that actual prediction on the other tweet.

Im bullish long term as anyone but this feels like a little much.