A bitcoin fraud or billion-dollar opportunity?

A Sydney research firm has accused one of the world's bigger bitcoin miners of being an investment scam, reflecting broader scepticism about cryptocurrencies.


Bit Digital's former CEO, Zeng Erxin, is being sought by Chinese authorities, according to J Capital Research. The bitcoin company is worth more than $1 billion. J Capital Research

Aaron PatrickSenior correspondent Jan 15, 2021 – 1.45pm

If there was any doubt of the chutzpah that is the bitcoin investment phenomenon, it is demonstrated by Bit Digital, the world's biggest listed bitcoin-only miner.

Last week, Bit Digital surpassed $US1 billion ($1.3 billion) in market capitalisation on the Nasdaq sharemarket. On Monday, securities analysts and investors Anne Stevenson-Yang and the Sydney-based Tim Murray declared the Chinese-American company a scam.
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https://www.google.com.au/url?sa=t&...FjAAegQIAhAB&usg=AOvVaw2IlwC530aZCjQmgMKcsKIK

 

What is amazing is how US exchange would allow a fraudulent company to continue to be listed to be traded, to take US investors' money. I thought SEC now has a requirement that all foreign companies who list on US exchanges have to have their financial reporting comply with US accounting standards. I highly doubt their financial reporting would comply considering that three of their auditors resigned. And that didn't raise any red flags? And WTF is wrong with Twitter? It blocked Trump because he had a "risk" of inciting violence. But why block JC Capital? It's not inciting any violence? It just wants to keep investors informed. WHY was Twitter blocking JC Capital? Was Jack the "private equity investor" that provided Bitcoin Digital the bridge loan? This is serious conflict of interest and gross violation of First Amendment rights of JC Capital for Freedom of Speech.

The blocking of JC Capital's account by Twitter was absolutely unconstitutional. JC Capital had every single right to publish their video on Twitter. Twitter is seriously out of line on this one.

 

Watch this documentary before investing in anything Chinese. It is on Netflix.

 

Bitcoin is not fraud but it is volatile and prices can go up and down very fast so if we are so clever then we can get profit and on the other side if we have not a good eye on trading we can lose when prices go down fast.

 

Watched it. It's really good.

 

The title of this thread didn't question whether Bitcoin itself is a fraud. It's questioning whether the company Bitcoin Digital is a fraud.

 

Why not both?

 

for shorting, that's true.

 

Twitter is a private company and choose to block whoever they want.

 

still violated the first amendment rights of JC Capital