“Don’t Believe Everything You Read on the Internet” - Abraham Lincoln
TL;DR
Bitcoin mining company Hut 8’s stock plummeted over 30% the last few days, after JCapital Research claimed Hut 8 was running a pump and dump scheme.
But hey, you’re never going to know who’s right and who’s wrong until the business in question either collapses spectacularly, or survives…so why stress over something that doesn’t affect you, and will prove itself in time (whether you stress about it or not)?
Full Story
Let us start off by saying:
The irony of this piece is not lost on us.
Here goes nothing…
Let’s dive into why you can't believe everything you read online.
So, Bitcoin mining company Hut 8’s stock plummeted over 30% the last few days.
All because a short-selling firm, JCapital Research, claimed that Hut 8 was creating the newest pump and dump scandal – while Hut 8 claims that JCapital is spreading misinformation and attacking them.
But here’s the issue:
Similar to the gossip spread in high school, you don’t really know who to believe, until it becomes glaringly obvious.
Sure, JCapital may have some true claims…
But! They also have a very clear incentive to throw mud at Hut 8 - JCapital’s whole business model is built around profiting from short-term stock declines.
Here’s why we often tune this sort of thing out:
We don’t have any skin in the game on stuff like this (and bets are, neither do you).
You’re never going to know who’s right and who’s wrong until the business in question either collapses spectacularly, or survives.
…so why stress over something that doesn’t affect you, and will prove itself in time (whether you stress about it or not)?
¯\_(ツ)_/¯