Quote (Golden_Order @ Nov 27 2017 08:28pm)
I think John McAfee is right, Bitcoin is deflationary, there is a fixed amount of bitcoins that can be mined (21 million), there cant be any more bitcoins after that. According to the maths, the last bitcoin will be mined around the year 2138-2140, but 16 million bitcoins has already been mined, so the last 5 million will take a while, because the dificulty becomes harder to do. Its a way to emulate mining gold, it becomes harder and harder, but there is a finite amount (at least in this planet).
John McAfee is a clown. During the FBI vs Apple fiasco he said he had a trained group of hackers that would crack open the dead terrorist's phone using various techniques, mostly social engineering. He offered to socially engineer a dead guy and his dead wife into giving up the phone's pin.
Also, bitcoin supply slows down not because of difficulty but because the block reward has a half-life. Mining difficulty is irrelevant, because it adjusts to make sure transaction rate is constant. The reward for mining decreases at certain milestones, however.
Having said that, crypto currency is here to stay. People who dismiss it as unworthy of attention simply don't understand it.