Topic: Crypto Pump and Dump laws coming soon, or Pump em while you still can - page 2. (Read 1757 times)
May 18, 2015, 04:42:09 AM
Bitcoin markets are unregulated, so you can't make any behaviour illegal. With one, comes the other.
May 18, 2015, 04:39:30 AM
That won't stop it. Penny stocks are overseen and regulated by the SEC but there are companies, yes real companies, that can be hired by a corporation to 'pump' its stock. I don't know how exactly it all happens but I guess they have lawyers and know how to navigate the legal waters. P&D is actually a lucrative money making 'business' if you can call it that.
If you think pump and dumps will go away because there are regulations, think again. It's been there since the time there were exchanges and markets. And it won't ever go away.
If you think pump and dumps will go away because there are regulations, think again. It's been there since the time there were exchanges and markets. And it won't ever go away.
May 18, 2015, 04:19:21 AM
i hope soon
May 17, 2015, 06:59:02 PM
no one cares about this
this is a global thing and out of "the sec's" jurisdiction
its more of a thing for interpol
but even then it's like trying to find a needle in a haystack
everyone is using lbc wallets to tumble and scramble the fuck out of their transactions
this is money laundering on steroids
they dont stand a chance
i am against the pump and dump
but pumpers are gonna pump and dumpers are gonna dump
nothing can or will be done about this
this is the land of the PND
this is a global thing and out of "the sec's" jurisdiction
its more of a thing for interpol
but even then it's like trying to find a needle in a haystack
everyone is using lbc wallets to tumble and scramble the fuck out of their transactions
this is money laundering on steroids
they dont stand a chance
i am against the pump and dump
but pumpers are gonna pump and dumpers are gonna dump
nothing can or will be done about this
this is the land of the PND
You aren't really naive enough to believe that, are you?
May 17, 2015, 06:56:04 PM
no one cares about this
this is a global thing and out of "the sec's" jurisdiction
its more of a thing for interpol
but even then it's like trying to find a needle in a haystack
everyone is using lbc wallets to tumble and scramble the fuck out of their transactions
this is money laundering on steroids
they dont stand a chance
i am against the pump and dump
but pumpers are gonna pump and dumpers are gonna dump
nothing can or will be done about this
this is the land of the PND
this is a global thing and out of "the sec's" jurisdiction
its more of a thing for interpol
but even then it's like trying to find a needle in a haystack
everyone is using lbc wallets to tumble and scramble the fuck out of their transactions
this is money laundering on steroids
they dont stand a chance
i am against the pump and dump
but pumpers are gonna pump and dumpers are gonna dump
nothing can or will be done about this
this is the land of the PND
Perhaps you don't realize it, but most other countries have regulatory agencies similar to the SEC, so like it or not, P&Ders who live in most of the world will see that their days are numbered.
May 17, 2015, 06:14:20 PM
no one cares about this
this is a global thing and out of "the sec's" jurisdiction
its more of a thing for interpol
but even then it's like trying to find a needle in a haystack
everyone is using lbc wallets to tumble and scramble the fuck out of their transactions
this is money laundering on steroids
they dont stand a chance
i am against the pump and dump
but pumpers are gonna pump and dumpers are gonna dump
nothing can or will be done about this
this is the land of the PND
this is a global thing and out of "the sec's" jurisdiction
its more of a thing for interpol
but even then it's like trying to find a needle in a haystack
everyone is using lbc wallets to tumble and scramble the fuck out of their transactions
this is money laundering on steroids
they dont stand a chance
i am against the pump and dump
but pumpers are gonna pump and dumpers are gonna dump
nothing can or will be done about this
this is the land of the PND
May 17, 2015, 06:05:44 PM
Currently, crypto is very much like Internet trading of penny stocks were in the 90s. Back then, many described it as the "Wild West" too, but the SEC showed them that there was a new sheriff in town. I suspect that the same type of thing is in store for crypto.
May 17, 2015, 03:17:04 PM
Short and distort
A variant of the pump and dump scam, the "short and distort" works in the opposite manner. Instead of first buying the stock, and then artificially raising its price before selling, in a "short and distort" the scammer first short-sells the stock, and then artificially lowers the price, using the same techniques as the pump and dump but using criticism or negative predictions regarding the stock. The scammer then covers his short position when he buys back the stock at a lower price.
Now who does this remind you of? Anyone?
A variant of the pump and dump scam, the "short and distort" works in the opposite manner. Instead of first buying the stock, and then artificially raising its price before selling, in a "short and distort" the scammer first short-sells the stock, and then artificially lowers the price, using the same techniques as the pump and dump but using criticism or negative predictions regarding the stock. The scammer then covers his short position when he buys back the stock at a lower price.
Now who does this remind you of? Anyone?
May 17, 2015, 03:16:49 PM
Pump and dump spam
Now tell me good readers, does this sound familar? In fact it's happening RIGHT now, look at what VIRAL is doing.. Classic
Pump and dump stock scams are prevalent in spam, accounting for about 15% of spam e-mail messages. A survey of 75,000 unsolicited emails sent between January 2004 and July 2005 concluded that spammers could make an average return of 4.29% by using this method, while recipients who act on the spam message typically lose close to 5.5% of their investment within two days.[13] A study by Böhme and Holz[14] shows a similar effect. Stocks targeted by spam are almost always penny stocks, selling for less than $5 per share, not traded on major exchanges, are thinly traded, and are difficult or impossible to sell short. Spammers acquire stock before sending the messages, and sell the day the message is sent.[15]
Pump and dump differs from many other forms of spam (such as advance fee fraud emails and lottery scam messages) in that it does not require the recipient to contact the spammer to collect supposed "winnings," or to transfer money from supposed bank accounts. This makes tracking the source of pump and dump spam difficult, and has also given rise to "minimalist" spam consisting of a small untraceable image file containing a picture of a stock symbol.
Now tell me good readers, does this sound familar? In fact it's happening RIGHT now, look at what VIRAL is doing.. Classic
Pump and dump stock scams are prevalent in spam, accounting for about 15% of spam e-mail messages. A survey of 75,000 unsolicited emails sent between January 2004 and July 2005 concluded that spammers could make an average return of 4.29% by using this method, while recipients who act on the spam message typically lose close to 5.5% of their investment within two days.[13] A study by Böhme and Holz[14] shows a similar effect. Stocks targeted by spam are almost always penny stocks, selling for less than $5 per share, not traded on major exchanges, are thinly traded, and are difficult or impossible to sell short. Spammers acquire stock before sending the messages, and sell the day the message is sent.[15]
Pump and dump differs from many other forms of spam (such as advance fee fraud emails and lottery scam messages) in that it does not require the recipient to contact the spammer to collect supposed "winnings," or to transfer money from supposed bank accounts. This makes tracking the source of pump and dump spam difficult, and has also given rise to "minimalist" spam consisting of a small untraceable image file containing a picture of a stock symbol.
May 17, 2015, 03:16:29 PM
"Pump and dump" (P&D) is a form of microcap stock fraud that involves artificially inflating the price of an owned stock through false and misleading positive statements, in order to sell the cheaply purchased stock at a higher price.
So how long before crypto P&D is made illegal?
Here's the current atmosphere.
Pumpers take notice!!!
By participating in a Pump n Dump you are going down one of two roads.
or
http://4.bp.blogspot.com/-QxkBGIho2lg/UO3MWW_XPeI/AAAAAAAAAd0/1M79hiRmD8w/s1600/a-lynch31-bw.jpg [NSFW]
mod note: edited out a NSFW image
So how long before crypto P&D is made illegal?
Here's the current atmosphere.
Pumpers take notice!!!
By participating in a Pump n Dump you are going down one of two roads.
or
http://4.bp.blogspot.com/-QxkBGIho2lg/UO3MWW_XPeI/AAAAAAAAAd0/1M79hiRmD8w/s1600/a-lynch31-bw.jpg [NSFW]
mod note: edited out a NSFW image
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