LibreCharts

2021-09-03 18:18:29 CoinTelegraph Accurate in Analysis

Saw this article they put up recently (today) about Cardano.

https://cointelegraph.com/news/cardano-chart-painting-a-bull-flag-for-3-ada-price-ahead-of-erc-20-converter-launch

Can’t speak to any theories of price based on this protocol upgrade, but the charts they put up here (and the enduring analysis from them) - are accurate.

There are a few things I’d change about this analysis though in order to make it more “forward-facing”. This is the “charts” channel, so let’s get into said charts - shall we?

Cool, standby a sec kids. Open / Comment

2021-09-01 23:23:40 Children Mining on Blockchain are More Profitable Than Michael Saylor

Check these kids out - https://www.cnbc.com/2021/08/31/kid-siblings-earn-thousands-per-month-mining-crypto-like-bitcoin-eth.html

If Saylor had the intelligence to plop his money into mining instead of simply "holding" Bitcoin (and getting zero utility essentially from his investment) , then he would be rolling in the dough right now.

Hell, he may even be in the position of a true power broker in this space had he possessed this foresight. But, alas, we can't all be rational actors in the market. Open / Comment

2021-08-28 03:26:06 Purpose for Publishing This Information in Here (with notifications turned on)

To show everyone that you cannot trust crypto outlets w/o verifying the information they're telling you.

Do your own due diligence.

1. If you see an article that references a court case / filing / etc., try to see if you can obtain the original filing and read it yourself.

2. If there is a reference to an SEC filing, look for it. These are always published publicly and 99% of them are written in plain English. You'd be surprised how much useful information is contained in an SEC filing.

3. If there is a fundraise / crowdfund for a start-up or project you're curious about, try to get as much information as you can about the funds / entities / people that participated in that fundraise. There's a lot you can glean from it.

If you don't know how to glean this information or find yourself still in search of these resources, you should subscribe to @libreOSINT (OSINT = open source investigation; great discipline for "armchair investigators", as the old, out-of-touch-can't-use-a-computer-or-make-an-excel-spreadsheet generation likes to call them) Open / Comment

2021-08-28 03:26:06 Live look at the Grayscale Trust index.

As we can see all of Grayscale's Trusts (w unlocked shares) are in discount currently.

The LTC Trust was the last remaining one to slip into discount (which it did today).

So, for the first time ever - all of Grayscale's Trusts are in discount. Maybe this is why 'The Block' felt the need to put out misinformation today about GBTC.

source: https://www.bybt.com/Grayscale Open / Comment

2021-08-28 03:26:06 This Breakdown is an Example of the Type of Disinformation That Exists in This Space

Its obvious that this news was shared with the intent of generating bullish sentiment in the markets.

'The Block' wanted readers to see this article and think, "Oh wow! A billionaire investor is just now picking up shares of GBTC, this must be (more) evidence that institutional investors are piling back into Bitcoin. Looks like we're going back to the moon!"

Not so fucking fast. If that were the case, then 'The Block' wouldn't be sharing this false information.

What's Their Motivation For Doing So?

1. 'The Block' is owned by Coinbase (as in, they were seeded, funded, & started by Coinbase - exclusively).

2. Coinbase is GBTC's sole custodian of funds (source: https://sec.report/Document/0001564590-21-041930/) <— from that filing, "The custodian of the Trust is Coinbase Custody Trust Company, LLC (the 'Custodian'), a third-party service provider. The Custodian is responsible for safeguarding the Bitcoin, Incidental Rights, and IR Virtual Currency held by the Trust, and holding the private key(s) that provide access to the Trust’s digital wallets and vaults. The Custodian Agreement is for an initial term of three years."

Clear conflict of interest here. Open / Comment

2021-08-28 03:26:06 Miller Opportunity Fund Obtained a Small Allocation Back in February

This was publicly reported (by numerous outlets) at the time - https://markets.businessinsider.com/news/currencies/legendary-investor-bill-miller-miller-opportunity-trust-grayscale-bitcoin-trust-2021-2

Additionally, this was reflected in an SEC filing by the Miller Opportunity Trust back in February 2021 as well - https://www.sec.gov/Archives/edgar/data/1261788/000089418921000791/milleropportunitytrust485a.htm (Form N-1A)

The disclosed investment in Grayscale by the Miller Opportunity Trust (released today, disclosed 6 months later) reflects a modest allocation ($44M) ; as stated in the SEC filing, Miller's Trust will never allow its total exposure to BTC exceed 15%. Open / Comment

2021-08-28 03:26:06 Parsing Out the Lies by 'The Block' Here

Bill Miller did not "take the plunge" with GBTC. The SEC filing linked in the article just reveals the total holdings held by the Miller Opportunity Trust (name of Bill Miller's fund). 'The Block' claimed that, "Billionaire fund manager Bill Miller has taken a significant position in Grayscale's Bitcoin Trust, according to a new filing with the SEC.

Here is that filing - https://www.sec.gov/Archives/edgar/data/0001261788/000114554921051047/xslFormNPORT-P_X01/primary_doc.xml Open / Comment

2021-08-28 03:26:06 Caught 'The Block' Making Up Fake News Again

This publication should never be trusted or considered to be "journalism" (in any context).

Had to debunk a recent article that they published about Grayscale's Bitcoin Trust earlier today. The article is false & 100% misrepresents the reality of the situation.

Here is that article from 'The Block' - https://www.theblockcrypto.com/linked/115887/billionaire-bill-miller-takes-plunge-into-gbtc-with-1-5-million-shares Open / Comment

2021-08-26 21:10:28 If you're looking to read the full text of this bombshell complaint yourself, look no further than here - https://storage.courtlistener.com/recap/gov.uscourts.cand.350968/gov.uscourts.cand.350968.1.0.pdf (thank you 'CourtListener'!)

At the time most people didn't take the 'Bitcoin Manipulation Abatement LLC' seriously, but when we look back at their history of litigious actions against massive entities in this space, it appears that they've been right on the money, actually.

Bitcoin Manipulation Abatement LLC vs. Ripple

They initiated this lawsuit back May 2020. You can check the court docket on that here - https://www.courtlistener.com/docket/17123007/bitcoin-manipulation-abatement-llc-v-ripple-labs-inc/

Specifically, they accused Ripple of grossly violating securities laws with their sale of Ripple tokens (initial 'complaint' filed in court can be found here - https://storage.courtlistener.com/recap/gov.uscourts.cand.358986/gov.uscourts.cand.358986.1.0_1.pdf)

As fate would have it, Ripple ended up being sued by the SEC for securities fraud December 2020 - https://www.sec.gov/news/press-release/2020-338

Bitcoin Manipulation Abatement LLC vs. BitMex

Again, in May 2020, the 'Bitcoin Manipulation Abatement LLC' entity filed suit against BitMex, alleging egregious conduct violations on the part of the exchange's operators (headed by none other than the now infamous, Arthur Hayes).

Of course, at the time the lawsuit was brushed to the side in the 'mainstream', to the great assistance of CoinDesk - https://www.coindesk.com/bitmex-market-manipulation-lawsuit-rico-bma

However, as we all know, later that year an unsealed indictment revealed that each of BitMex's operators were being charged with violations of the Bank Secrecy Act (in a case that's revealed these same operators did indeed end up manipulating the markets in the manner the BMA LLC lawsuit exposed).

You can view the press release announcing the indictment of BitMex's operators here - https://www.justice.gov/usao-sdny/pr/founders-and-executives-shore-cryptocurrency-derivatives-exchange-charged-violation Open / Comment

2021-08-26 20:53:04 Something tells me that this picture is going to haunt Changpeng Zhao & Sam Bankman-Fried for the rest of their lives.

But from this announced investment alone, it should be patently clear that there is a tied mutual interest between Binance & Alameda (and FTX too, of course). Open / Comment