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Since there are less than 4 million Bitcoins left, John McAfee has expressed great apprehension about the "value of the last Bitcoin". Considering the state of the miners, it makes the brow furrow, as many of them are pouring huge amounts of money. Although, according to him, "No miner has ever lost money with Bitcoin, regardless of price", it is the "difficulty rate" that matters.
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Addressing his concern, the Bitcoin enthusiast has posted on Twitter stating: "There are less than 4 million Bitcoins left in. What do you think will be the value of the last Bitcoin? Thousands of miners spend, in some cases, millions of dollars each to find it.The value may be less than the effort? be hundreds of millions. "
There are less than 4 million Bitcoins left to mine. What do you think will be the value of the last Bitcoin? Thousands of miners spend, in some cases, millions of dollars each to find it. Can the value be less than the effort? The value should be hundreds of millions.
– John McAfee (@officialmcafee) 6 August 2018
Reasoning the worth of the last Bitcoin
The tweet gave rise to threads of responses from the followers of the British-American computer programmer. Responding and clarifying their opinions, he also said that the last Bitcoin will not be less than one hundred million dollars.
"Think rationally: Miners can take weeks or months to get the last Bitcoin, the rate of difficulty will pass through the roof.There is no way that the last Bitcoin can be worth less than a few hundred million dollars ", explained his tweet.
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Explaining from the miners' perspective, the most enthusiastic crypto said that miners have much greater control than can be supposed and when they extract, they "will determine the price of Bitcoin". Therefore, the last Bitcoin "must be worth hundreds of millions".
Yes. But the miners control more than they imagine. Please use your head. The mines will drive the Bitcoin price. Miners have already invested billions in equipment and facilities. The last bitcoin will have to be worth hundreds of millions
– John McAfee (@officialmcafee) 6 August 2018
Image via Shutterstock
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