Many crypto enthusiasts hope that if not overnight then at least in a few years their Bitcoin and/or altcoin stash will definitely make them rich and even make it easy to retire.
However, crypto experts break these hopes, suggesting that they are naive.
‘1 BTC/XRP will let you retire and forage food’
The community expects Bitcoin to regain its all-time high of 2017 when it came close to the $20,000 mark. Since many experts are predicting that after Bitcoin will rush on to new highs, many in the community believe they will be able to take retirement and live off their Bitcoin holdings (even if those are just 0.1 BTC).
However, some experts are doubtful about that. In a recent tweet, crypto trader ‘Bitcoin Macro’ has stated that even when BTC is worth much more than $20,000, 0.1 BTC will be far from enough to let them retire. He also calls 1 ETH and 1 XRP (assuming their prices to surge in the future) an impossible amount to retire with.
Once Bitcoin breaks $20k...— Bitcoin Macro (@BTC_Macro) January 5, 2020
People will ask again if they can retire with 0.1 $BTC or 1 $ETH in the future.
These people are stupid and we will all laugh at them.
But we will laugh even harder at the new plebs who think owning 1 $XRP will allow them to retire.
I can’t wait.
Crypto trader Alex Kruger agrees with ‘Bitcoin Macro’, adding that retirement with 1 BTC in 20 years will be impossible even if you lead a modest lifestyle.
Can also laugh at everyone who thinks owning 1 $BTC will allow them to retire.— Alex Krüger (@krugermacro) January 5, 2020
‘Bitcoin will hardly become a global reserve currency’
A debate sparked off in the comment thread, with community members trying to convince the traders that they are wrong and predicting that Bitcoin becomes a global reserve currency once, it will give its holders unlimited financial opportunities.
To this Alex Kruger responds: this does not stand a chance.
the odds of bitcoin becoming the global reserve money are as high as the odds of me growing another dick— Alex Krüger (@krugermacro) January 6, 2020
McAfee backs off on his 'BTC promise'
As if adding oil to the fire, the outstanding Bitcoin bull John McAfee has recently stated that he is not going to eat his penis on the national TV if BTC fails to hit $1 mln in 2020, as he had promised earlier.
In a recent tweet, he pointed out that this promise was nothing but a ruse for the new crypto users. McAfee clearly stated he didn't consider Bitcoin the future of crypto.
This made many in the crypto community disappointed with the crypto baron.
Unfollowed. SMH https://t.co/L6p7buzSam— Mati Greenspan [tweets are not trading advice] (@MatiGreenspan) January 5, 2020