Afternoon Steemians, uncle Frosty here with another post on crypto. Once again, as usual, the human animal is doing his thing – looking after number one!
According to Zero Hedge, Litecoin founder Charlie Lee has dumped his entire position of his own cryptocurrency and donated all of those holdings in the last few days.
According to the Reddit post quoted by Zero Hedge, Litecoin has “been good” to Charlie and now is the right time to liquidate his holdings to avoid what he described as, conflict of interest, as he continues to be involved in the development of the coin.
Now hang on a second – is it just me, or does this smell a little…? I think yes. What I find most interesting about this is not what Charlie has done, but how far it differs from the narrative of what those in the public eye are saying about crypto.
If we head over to You Tube, and this video from the state bought media at CNBC, we find Mike Novogratz giving “financial advice” in the domain of Bitcoin.
Good old Mike, former Goldman bankster, has always liked a punt. Just look it up, he used to be head of currency and commodity risk trading in Asia. Having decided to take a punt on Bitcoin back in 2015, he’e been championing the crypto currency all along. In fact, what most of you probably don’t know is that this guy’s net worth back in 2008 was $1.2 billion. Now ask yourself this - If I’m that wealthy and I think there’s a chance to grease the bitcoin machine to run up the price based on how mining works – am I wealthy enough to do this? Hell yeah…!
So, let’s cut to the chase of what I’m trying to say – Litecoin Charlie dumps his holdings – the whole lot. Goldman Mike is pumping BTC and talking about a 6x increase in the price during 2018 - Who’s your money on as a barometer of things to come? The man who knows how the system works, inside out - or the man who has his finger on the nuclear button?
What I'm suggesting is that Charlie Litecoin KNOWS who's mining Bitcoin at scale, and that those people are about to start playing BOTH sides now that it's possible to buy BTC Futures and make money long or short. A storm is coming, and Charlie (quite rightly) doesn't want to get wet.
Until next time – Stay frosty folks. There’s bad people out there doing bad things…