“Don’t believe everything you read on the internet” – Abraham Lincoln

TL; DR

• Shares of Bitcoin mining company Hut 8 plunged more than 30% in recent days after JCapital Research claimed Hut 8 was running a pump-and-dump scheme.

• But hey, you’ll never know who’s right and who’s wrong until the company in question either collapses spectacularly or survives… so why worry about something that doesn’t affect you, and will evolve over time evidence (whether you worry about it or not)?

Full story

Let’s start by saying:

The irony of this piece is not lost on us.

Nothing goes here…

Let’s look at why you can’t believe everything you read online.

So shares of Bitcoin mining company Hut 8 have plummeted by more than 30% in recent days.

All because a short-selling firm, JCapital Research, claimed Hut 8 created the latest pump and dump scandal – while Hut 8 claims JCapital is spreading misinformation and attacking them.

But here’s the problem:

Like the gossip spread in high school, you don’t really know who to believe until it becomes glaringly obvious.

Sure, JCapital may have some real claims…

But! They also have a very clear incentive to throw mud at Hut 8; JCapital’s entire business model is built around taking advantage of short-term stock declines.

This is why we often ignore these kinds of things:

1. We don’t have any opinions on these things (and neither do betting).

2. You will never know who is right and who is wrong until the company in question either collapses spectacularly or survives.

…so why worry about something that doesn’t affect you and will prove itself over time (whether you stress about it or not)?

¯\_(ツ)_/¯