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Vitalik makes outrageous Bitcoin predictions about two celebrities, netizens sarcastically respond: "Mind your own business first!"

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Vitalik makes outrageous Bitcoin predictions about two celebrities, netizens sarcastically respond: "Mind your own business first!"

Ethereum co-founder Vitalik Buterin has criticized some of the most outrageous Bitcoin price predictions made over the past 2 to 5 years, slamming those who hide their irresponsible behavior under the guise of free speech. However, netizens were quick to retort under his post, reminding him to clean up his own act before criticizing others!

Irresponsible Predictions

"Predictions" can help us prepare for an uncertain future, but speech is not held accountable, especially in the field of cryptocurrency, where we often see many so-called experts, exchange founders, and other influential figures making absurd predictions or viewpoints. Such speech has had unnecessary negative impacts on the industry or investors.

Yesterday, Ethereum co-founder Vitalik Buterin criticized on his Twitter that due to the lack of accountability in speech, irresponsible predictions are rampant in the entire online world, regardless of the field. There should be a set of social incentives to deter such irrational speech, with "public ridicule" being one of them.

"Digging out and mocking those who made 'overly confident' predictions years ago will be a good habit. We need social incentives to speak sensibly and remind each other of errors."

Vitalik Buterin further pointed out the most outrageous Bitcoin price predictions from the past 2 to 5 years, stating that in the cryptocurrency field, whether in a bull market or bear market, the most criticized are these irresponsible price predictions.

Most Famous Bullish Prediction

The most outrageous Bitcoin bullish prediction selected by Vitalik Buterin comes from McAfee's founder, and also the former 2020 U.S. presidential candidate, John McAfee. In November 2017, when the price of Bitcoin was approaching $20,000, John McAfee made a famous price prediction involving a bet with "Little McAfee."

"When I predicted that Bitcoin would reach $500,000 by the end of 2020, the model it used predicted $5,000 by the end of 2017. BTC's growth rate is much faster than my model assumed. I now predict that by the end of 2020, Bitcoin will reach $1 million. If I'm wrong, I'll eat my own manhood."

Years later, McAfee retracted the "Little McAfee" bet in January 2020, claiming that the prediction was just a marketing ploy to attract new users at that time, and stated that Bitcoin is not the future of cryptocurrency. Last week, this eccentric figure further criticized Bitcoin as worthless. In just three years, he shifted his stance from predicting a Bitcoin price of $1 million to $0, while another bearish figure remained firm in comparison.

Most Firm Bearish Prediction

And the most outrageous Bitcoin bearish prediction chosen by Vitalik Buterin is the price prediction made by the famous American economist Nouriel Roubini in February 2018. As Bitcoin plummeted from $20,000 to below $7,000 and continued to break previous lows, Roubini boldly foresaw Bitcoin heading towards zero.

"As expected, after Bitcoin fell below $6,000, it is now hitting $5,000. There is still one more day for the U.S. Congress hearing on cryptocurrency scams. While scammers and whales sell off and flee, those foolish long-term holders are still holding onto Bitcoin, which is gradually heading to zero."

Although Roubini's prediction of Bitcoin going to zero has never actually materialized, this steadfast belief that Bitcoin will go to zero from start to finish, though outrageous, is still commendable.

Shave Your Own Beard First

Interestingly, while Vitalik Buterin criticized price predictions, netizens counter-attacked Vitalik, pointing out that his past and present predictions on Ethereum's development progress and roadmap have all been wrong, suggesting that Vitalik should start with self-accountability.

Further Reading

  • Vitalik Buterin Criticizes Bitcoin Price Prediction Models, "Bitcoin Father" Adam Back Counters: Ethereum's Issuance Unclear, Hence Unpredictable
  • Criticizing Blockchain Uselessness, Doomsday Doctor Nouriel: Cryptocurrency is a Shitcoin

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