Clif High
Clif High is actually one of the people responsible for creating the Webbot.
If you’ve been watching videos about cryptocurrencies and have heard this Webbot referenced before but you’re not sure what it is, here is my very basic understanding of how his Webbot works:
It is software that he designed back in 1997 which uses complex algorithms to decipher the language used in search engine data from people around the world.
They then work to determine trends and predictions about a whole lot of different subjects.
View Video Here^^^^^
Clif predicted Bitcoin to be $13,888 by the end of February 2018 and this would lead the way for the price to hit $60,000 by the summer of this year.
He hinted that one contributing factor for this would be that companies already in cryptocurrencies will present new products to outside markets that will be very successful and will eventually attract new users and will bust Bitcoin out of these current levels.
Despite the inaccuracy of the price of Bitcoin, he’s at least piqued my interest in seeing what types of products being released by crypto-related companies will be so widely successful that they will ultimately help significantly breath new life into the market.
In addition to this, Clif also reminds us of the adoption rates and cycles of new technology and how we are due for another wave of new adopters to this technology.
John McAfee
With his background in mathematics and programming he explains his prediction of bitcoin valued at $1 million by 2020 with the logic that there will only be 17 million bitcoin available (accounting for the 4 million lost forever) and hundreds of millions of people, probably more who will be wanting to invest in it.
John has put a lot more on the line for his prediction then anyone else.
If you haven’t heard the news until now, John McAfee has actually vowed to eat his own genitalia if Bitcoin doesn’t reach $1,000,000 by the year 2020.
Also for that price point to activate he’s also saying that Bitcoin will be priced at $78,000 by the end of 2018. Although he seems to have made a more recent prediction of Bitcoin being around $30k-$40k by the end of this year. (Maybe he's starting to go soft on his bet?)
His thoughts on those who are predicting much more conservative numbers (like $14,000 at the end of this year) are using old, outdated paradigms of bubbles that pop.
He even went as far as to say that the concept of corrections can’t even be applied to Bitcoin because it stems from an old paradigm.
He also thinks that in 5 years there will be no more banks.
There’s a part of me that wants to commend John for his commitment and strongly held belief that Bitcoin can reach these heights, but part of me wonders if he’s forgotten to consider some things…
Now this is my opinion of course, but to me, John is one representation of all things euphoric about Bitcoin and this crypto space.
Yes, in an ideal world, governments and banks cannot control the distributed, decentralized network of Bitcoin. But like it or not, we have to remember that no matter how paradigm shifting this new technology is, or how perfectly designed it is technologically, those investing in it, and those trading it, are still human.
Still victims of human psychology.
Of course I’m choosing to spend my time and energy learning and researching so that I can better educate those who want to learn more about this new technology so we can all get a better sense of the scope of change that can happen if we embrace and encourage it.
But to think that the “powers that be” won’t have any influence whatsoever on how people view Bitcoin and cryptocurrency in general is just a bit naive.
To be completely candid with you (and if you couldn’t tell by this last mini rant) this subject has completely sent me into a typing frenzy that’s led me to explore my thoughts on this which go a lot deeper than this video will allow so I’m going to follow up on this in my next post tomorrow.
It’s going to be much more of an opinion piece and I really want to encourage you all to check it out and leave a comment so we can have a good discussion and explore each others thoughts on how this will all play out.
Additional Reading/Sources/Links:
Cliff Hig
Webbot Project (1997)
Prediction(1)
Prediction (2)
Webbot reports for sale