It is the 'luring' of new investors to a coin project which fuels the pump-and-dump scam. As I have said previously, it is quite apparent that many in the cryptocurrency industry need to tone down this expectation they have of being able to throw a few satoshis at an altcoin and it will magically gain an enormous market-cap overnight.
Commerce requires solid economic mechanisms, these mechanisms need sound technical platforms and these platforms take time to develop and implement.
We are all still very much at the vanguard of cryptocurrency and blockchain technologies. Nobody in this industry at this time is late for the party, they've just got to make sure they can figure out the best gift to bring.
Well, the word lure is probably not the right word but I'm sure you knew what I meant.
I'm here due to BITS. A vested interest of course. Been with BITS since day 1 of it's PoW.
So I want BITS to become a better & more unique coin (technically and ecosystem wise).
Also for it to be better known, more distributed & of course be worth more in price.
Just a little upset that I still can't buy a Ferrari by selling 'some' of my BITS that's all.
Anways, keep us in the loop. Hopefully we'll get to know more about this side project real soon.