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by heyimwill 4168 days ago
On December 23 a Missouri court ordered a winddown of Butterfly Labs and they began a refund plan.....now here is my theory...I was looking at the blockchain and came across a 5000 btc utxo taken incrementally down to 0....it was sold off continuously. It took me to here. https://blockchain.info/address/12WRnQR85ZUT7dhmaHBNL5dde2QL...

Activity on that address started back up on 12/23 the day the courts provided control again. Ive tied it to butterfly labs because a OP_RETURN said paycoin.com linked to Josh Zerlan an employee of butterflylabs.

What is scary is another 90000 unspent coins reside here also controlled by butterfly labs. https://blockchain.info/address/1B9KrM7bjhJ42qJSWr1KJrNTAP1S...

I think youll have butterfly labs forced to continue to sell the remaining 94000 coins in this court mandated wind down in order to provide refunds to those customers....That is a ton of coins to continuously dump...it exceeds 24 hour volume on the largest exchange.

1 comments

Gee, almost sounds like Butterfly Labs was a scam on top of bitcoin scam. Sell preorders for a money printing machine, build said machine, and sit on it printing money for yourself.