The winner of the Miss Hong Kong 2015 pageant has appeared on the territory’s most popular TV channel explaining the ‘Bitcoin Time Traveler’ theory.
Explaining The ‘Bitcoin Time-Traveler’ Theory
The theory stems from a Reddit post made in 2013, by a user named Luke Magnotta. In it, he claimed to be a time traveler from the year 2025 and gave a detailed description of how Bitcoin had created a political dystopia.
Part of the post detailed the rise in bitcoin price up until 2013, and how it would continue to rise in the future. Essentially it stated that the approximate tenfold increases each year would slow down to occur every two years. So the sequence of $0.1 – 2010, $1 – 2011, $10 – 2012, $100 – 2013, would continue as follows:
$1000 in 2015, $10,000 in 2017, $100,000 in 2019, and $1 million in 2021.
But That’s Just Another Crazy Conspiracy Theory
Well, that’s what most believe, and that was certainly the theme of (at least) that segment of the show. Of of the other panelists explained the Avril Lavigne conspiracy theory; that she didn’t just sell-out her skate-punk roots, but instead died in 2003, and was replaced by a more pop-friendly double.
But it has recently gained media attention again, with certain groups suggesting that the prediction is coming true.
I mean, it demonstrably isn’t true, as bitcoin price crossed the $100 mark and hit $1000 in 2013, just a few months after the post was made. But bear with me…
In very general terms, if you squint your eyes a bit, and just glance at it momentarily.
Ignoring obvious bubbles, bitcoin securely passed the $1000 hurdle on 2nd January 2016. That’s very almost 2015. And bitcoin certainly crossed the $10,000 mark in 2017… if we consider 2018 to be an over-correction and $10k to be an inherent value.
So, $100k Price Target For 2019?
Critics of the ‘Bitcoin Time Traveler’ theory point out that, if a time traveler had actual knowledge, would he not give exact prices rather than a rough schematic of gains.
Which is a fair enough point.
However, potential self-cannibalist, John McAfee, sees it as some form of vilification. In a recent tweet, he drew attention to the story, noting that 2021 is just one day away from his predicted $1 million bitcoin date of 31st December 2020.
I’m not the only madman in crypto apparently. $1 mil prediction by 2021 by the man who has never been wrong in his predictions.. 2021 us just one day away from my prediction of $1 mil by 12/31/2020.https://t.co/9dafiU4P9R
— John McAfee (@officialmcafee) May 28, 2019
Mind you, in 2021 the dollar apparently isn’t used any more, so maybe it’s a moot point?
So, could Luke Magnotta be a real time-traveler? Is he really here to save us from a future they intend to nuke (as the original post goes on to claim)?
Or is this just some early FUD, potentially created by a forward-looking central bank already running scared?
I guess we just wait and see.