Topic: Fontas - will he kill crypto-currencies? - page 2. (Read 7297 times)
Fontas will not kill crypto-currencies, but he will probably be going to jail for financial crimes. You're not allowed to deliberately "pump and dump". If the SEC got Pirate, they will get Fontas.
Shorting bitcoin would be excellent, but I don't know any way to short bitcoin, or any crypto, unless you just borrow some coins from a friend.
I think you can do that on Bitfinex or Btc-e.
does the exchange allow short selling?
that would make it fairer
that would make it fairer
Shorting bitcoin would be excellent, but I don't know any way to short bitcoin, or any crypto, unless you just borrow some coins from a friend.
On another note, fontas is certainly real and that is certainly his twitter. It's not difficult to use a wallet address he gives out publicly to locate several 1,000 BTC wallets and a big mother wallet holding 98,000 BTC. Edit: this was his donations wallet on twitter recently. 1FCzmB3DhsuzBSM4wKcfJoTLRAvMARRuXM
Maybe fontas antics would be illegal, but big orders trying to motivate markets isn't illegal, at least I don't think it is. "Pump and dump" worked on gox once with about $3 million, looks like the guy dumped it off and ended up with cheap or free BTC. https://i.imgur.com/2h3kLI7.png
Following fontase is a very very risky game but every once in a while you make something. I had 5 COL and he pumped it really well. The COL is still useless to me but its all about luck when following his plans. I tend not to deal with him and do absolutely nothing when he announces a P&D in a cryptocurrency I have some coin in.
He would have been in jail if cryptocurrencies were regulated. Actually what I think is that he will eventually end up there anyway. BTC-e has total daily volume(altcoins counted in) of 150K BTC which is 150M USD daily. Surely someone is monitoring all activities and those obvious manipulators will have to cope with consequences.
What I do not understand that someone who is having 5M USD or more in crypto wants more and more. I mean having 5M USD 100% or risking that
a)Russian website taken down by government
b)Total cryptocurrencies end
c)Hacker hacks into your account
and many more threats... Just do not buy it why. Either way you at least know where to get out of the coin - Pump announcment
What I do not understand that someone who is having 5M USD or more in crypto wants more and more. I mean having 5M USD 100% or risking that
a)Russian website taken down by government
b)Total cryptocurrencies end
c)Hacker hacks into your account
and many more threats... Just do not buy it why. Either way you at least know where to get out of the coin - Pump announcment
well here is fontas twitter! https://twitter.com/fontase
Gotta love the trollbox!
The level of intelligence recently has slumped as the number of users has increased - I actually have a screen grab of this little gem (from around August):
Quote
User1: Fontas has pumped btc to 111 on gox why is it only 96 here?
User2: he is not receiving enough support here
User2: he is not receiving enough support here
So wrong and in so many ways
While his activities would be illegal in regulated markets
Illegal??? What the fuck are you talking about???
This from Wiki:
Quote
One method of regulating and restricting pump and dump manipulators, is to target the category of stocks most often associated with this scheme. To that end, penny stocks have been the target of heightened enforcement efforts. In the United States, regulators have defined a penny stock as a security that must meet a number of specific standards. The criteria include price, market capitalization, and minimum shareholder equity. Securities traded on a national stock exchange, regardless of price, are exempt from regulatory designation as a penny stock,[12] since it is thought that exchange traded securities are less vulnerable to manipulation.[13] Therefore, CitiGroup (NYSE:C) and other NYSE listed securities which traded below $1.00 during the market downturn of 2008-2009, while properly regarded as "low priced" securities, were not technically "penny stocks". Although penny stock trading in the United States is now primarily controlled through rules and regulations enforced by the Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA), the genesis of this control is found in State securities law. The State of Georgia was the first state to codify a comprehensive penny stock securities law.[14] Secretary of State Max Cleland, whose office enforced State securities laws[15] was a principal proponent of the legislation. Representative Chesley V. Morton, the only stockbroker in the Georgia General Assembly at the time, was principal sponsor of the bill in the House of Representatives. Georgia's penny stock law was subsequently challenged in court. However, the law was eventually upheld in U.S. District Court,[16] and the statute became the template for laws enacted in other states. Shortly thereafter, both FINRA and the SEC enacted comprehensive revisions of their penny stock regulations. These regulations proved effective in either closing or greatly restricting broker/dealers, such as Blinder, Robinson & Company, which specialized in the penny stocks sector. Meyer Blinder was jailed for securities fraud in 1992, after the collapse of his firm.[17] However, sanctions under these specific regulations lack an effective means to address pump and dump schemes perpetrated by unregistered groups and individuals.
http://en.wikipedia.org/wiki/Pump_and_dump#Regulation
And this:
http://en.wikipedia.org/wiki/Microcap_stock_fraud
Etcetera etcetera etcetera....
However, I'm not looking for a legal argument.
I'm more interested if this 'community' feels a collective moral responsibility to look after its own.
he can try.....but who is Fontas 4 crypto
He buys on the cheap a day or so prior. Then announces the pump. The TRC pump earlier-- people bought it up from .0004 or so to .0018 in 2 minutes. (It plummeted back to .0004 or so within another minute.) He didn't buy anything on the way up.
That might work now, but when he first started doing this, it wouldn't have since no one would believe him. And this theory still relies on enough people with enough coins to believe enough to actually commit.
If it were me, I'd want to see it actually look like its moving significantly first.
does the exchange allow short selling?
that would make it fairer
that would make it fairer
While his activities would be illegal in regulated markets
Illegal??? What the fuck are you talking about???
Its easy, when he announces a pump you better be selling and not buying.
Gotta love the trollbox!
Absolutely not.
I'm not too worried about Fontas. It's the wild west out here, and newbs get fleeced from every direction in bitcoin. I sympathize, but the "pump and dump" aspect of altcoins isn't going away, and he isn't the only one doing it. He's more vocal, obviously.
The ones getting greedy are the ones getting fleeced.
Fontas is real. 
That evil twittering chicken!
The problem will be when he announces a pump and then he starts dumping.
That evil twittering chicken!The problem will be when he announces a pump and then he starts dumping.
Everyone believes he is fake. And we have seen no traces of him. The last crazy pump we had was on NVC. He could possibly be responsible for that but other than that not recent pump and dumps have happened on btc-e. I don't think he is the blame if this person is even real..
IE Fontas tripled his money, most lost theirs and are holding over-priced junk.
It's extremely unlikely that he makes any money actually moving the price, he probably loses a fair amount because the work to eat all those price levels will cost a lot of BTC and there will be no support underneath the price he ends up at to exit with, so selling again would cost him more.
I've been in the btc-e trollbox for months now.. fontas is just a made up person that we say to make people believe a pump and dump is coming. When the trollbox starts saying fontas is about to pump this coin or fonta is about to do this newbies tend to either A buy buy buy or dump. Its a way of tricking people. I honestly see nothing wrong with it. People try to complain about fontas but I just laugh because it really isn't anyone. I've never seen a member named fontas and ever since I've been in the trollbox members say its just a fake person that they have been using for months now to trick people
'Made up person' Jesus did you make that up yourself? I've been around the trollbox for almost 2 years now and I can also assure you that fontas is real. He hasn't done any pumps lately, but it seems he got back into business. There are a couple of people in the trollbox I would never trust a single coin with including fontas, koolio, supadupajenkins, raido ... {I'm so bad with names.}
Just in case you also miss the reference to chikun, let me enlighten you..
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