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“Don’t Believe Everything You Read on the Internet” – Abraham Lincoln

TL;DR

  • Bitcoin mining firm Hut 8’s inventory plummeted over 30% the previous couple of days, after JCapital Analysis claimed Hut 8 was operating a pump and dump scheme.

  • However hey, you’re by no means going to know who’s proper and who’s flawed till the enterprise in query both collapses spectacularly, or survives…so why stress over one thing that doesn’t have an effect on you, and can show itself in time (whether or not you stress about it or not)?

Full Story

Allow us to begin off by saying: 

The irony of this piece is just not misplaced on us. 

Right here goes nothing…

Let’s dive into why you may’t imagine all the things you learn on-line. 

So, Bitcoin mining firm Hut 8’s inventory plummeted over 30% the previous couple of days. 

All as a result of a short-selling agency, JCapital Analysis, claimed that Hut 8 was creating the latest pump and dump scandal – whereas Hut 8 claims that JCapital is spreading misinformation and attacking them. 

However right here’s the problem: 

Just like the gossip unfold in highschool, you don’t actually know who to imagine, till it turns into manifestly apparent. 

Positive, JCapital might have some true claims…

However! In addition they have a really clear incentive to throw mud at Hut 8 – JCapital’s complete enterprise mannequin is constructed round benefiting from short-term inventory declines.

Right here’s why we frequently tune this type of factor out:

  1. We don’t have any pores and skin within the recreation on stuff like this (and bets are, neither do you).

  2. You’re by no means going to know who’s proper and who’s flawed till the enterprise in query both collapses spectacularly, or survives.

See also  Coinbase is Backing...Themselves | Web3 Daily

…so why stress over one thing that doesn’t have an effect on you, and can show itself in time (whether or not you stress about it or not)?

¯_(ツ)_/¯

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