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RE: Not picking on Bitcoin, I love Ford's Model T too!
"if Bitcoin drops below $1,000, mining now becomes unprofitable, rendering a very large part of the entire Bitcoin mining infrastructure instantly obsolete."
Isnt it true, that if less people mine bitcoin that the difficulty is less. That is what Macafee said in the interview as well. So if bitcoin loses that much value and people stop mining than it won't cost $1000 any more. Amazing how it works!!
Yep, when demand for Bitcoin inevitably drops, it will put expensive mining out of business and allow less expensive miners to participate. But there is zero correlation between who mines and the value of Bitcoin. It depends only on supply and demand.
I heard Macafee will be sending some solar antminers in to space.