Is Bitcoin a pump and dump scheme? - page 7.

Turagsoy02

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Quote from: Kakmakr on March 13, 2018, 01:58:08 AM

The same things that are done with penny-stock trading, is also being done with Bitcoin. The people with the deep pockets will manipulate the penny-stock market and people will invest on the dip and sell when the price is high.

Bitcoin is no different, because there are also Bitcoiners with deep pockets. They will use their fiat reserves to pump the price and also dump some coins to drive the price down. This happens in all markets where there are a unequal distribution of a commodity or shares.

So its likely they are controlling the price of btc so they can sell what ever they want and buy anytime they want .

AGD

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Quote from: Turagsoy02 on March 12, 2018, 11:21:45 PM

Base on what I learned here in bitcointalk and understand, Probably not. A pump and dump scheme is a fraudulent operation where the operators own lots of a low-valued stock or commodity, and use mass advertising to lure large amounts of money from new investors, which in turn inflates the price. Once the commodity has reached a sufficiently high price, the operators “cash out” by selling all their holdings, which causes the commodity’s price to plummet, and the later investors lose most of their invested money.

What do you think ?

Basics of general trading. Applies to everything that is beeing traded.

angelaurum

jr. member

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Hail HYDRA

yes it is a pump and dump scheme
its a very complicated well instructed money laundering ponzi scheme that is hiding itself as a payment system

that's why the owner himself made himself anonymous

Bervelukan

newbie

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I also thought of you that bitcoin has a pump and dump scheme that results in some members losing and some making a profit, but basically bitcoin has increased in price every year.

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

The same things that are done with penny-stock trading, is also being done with Bitcoin. The people with the deep pockets will manipulate the penny-stock market and people will invest on the dip and sell when the price is high.

Bitcoin is no different, because there are also Bitcoiners with deep pockets. They will use their fiat reserves to pump the price and also dump some coins to drive the price down. This happens in all markets where there are a unequal distribution of a commodity or shares.

BillCoin

sr. member

Activity: 476

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It's not a pump and dump scheme as bitcoin itself has a true value, it's value is the ability to transfer funds worldwide on a very secure network at almost no cost.
It's not like the past bubbles that had a value just because people gave them the value, but they didn't have anything that actually represents a fair value.
I believe that bitcoin is being used for pump and dump because it has a low market cap compared to other financial assets.
It's still new to have it's price determined.

0t3p0t

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★Bitvest.io★ Play Plinko or Invest!

Quote from: Turagsoy02 on March 12, 2018, 11:21:45 PM

Base on what I learned here in bitcointalk and understand, Probably not. A pump and dump scheme is a fraudulent operation where the operators own lots of a low-valued stock or commodity, and use mass advertising to lure large amounts of money from new investors, which in turn inflates the price. Once the commodity has reached a sufficiently high price, the operators “cash out” by selling all their holdings, which causes the commodity’s price to plummet, and the later investors lose most of their invested money.

What do you think ?

For traders yes it is a pump and dump but it is not really the main purpose of Bitcoin. Bitcoin is a digital currency that aims to be a new payment system but unfortunately turns into an investment trend nowadays. Majority of the people in the community makes Bitcoin as an investment and minority of those were using Bitcoin for payment worldwide. I usually use Bitcoin for buying prepaid loads for my data connection because I am living far from the city where data connection is only used here in remote areas so Bitcoin helps me with that smooth and fast transaction.

vv181

legendary

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Bitcoin has a tremendous volume the biggest over all of the cryptocurrency, but it does not close the possibility of manipulation, imagine a combined whales manipulation could make a significant move in the markets. Bitcoin doesn't like other cryptocurrencies who is prone to the p&d scheme, but it still a highly volatile assets.

goku21

jr. member

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bitcoin sometimes increases and sometimes it drops because maybe those who sell their bitcoin and sell boards because they are hearing it out to others who are dropping the price so they panic they sometimes

Rainmaker45

newbie

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BTC is not a pump and dump scheme, to me the technology behind it is great, it can be seen as asset, means of payment some of this tokens are involved in medicals and other area of value.

A Feeder

full member

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Quote from: Turagsoy02 on March 12, 2018, 11:21:45 PM

Base on what I learned here in bitcointalk and understand, Probably not. A pump and dump scheme is a fraudulent operation where the operators own lots of a low-valued stock or commodity, and use mass advertising to lure large amounts of money from new investors, which in turn inflates the price. Once the commodity has reached a sufficiently high price, the operators “cash out” by selling all their holdings, which causes the commodity’s price to plummet, and the later investors lose most of their invested money.

What do you think ?

I cannot surely agree with this. Also, bitcoin cannot be compared to commodity because it has no value from the start. If what you are referring to is the bubble, I do not believe that because an entity that has a high price must also experience its pitfall. Those investors should be aware of what they are investing so that if ever it is a scheme, they can avoid it.

Andrey123

sr. member

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Bitcoin became very vulnerable to news.
This is used by hackers and move the course.
This is very bad, from the idea of the Nakamoto group there is no trace left.

Turagsoy02

newbie

Activity: 56

Merit: 0

Quote from: Dapper on March 12, 2018, 11:40:50 PM

Maybe and maybe not. For it to be a 'scheme' there needs to be people with a large volume of bitcoins. Just like penny stocks and how some particular stocks are at times controlled by organized crime. Yes, there are people with large tranches of btc and other cryptos and it's actually quite simple and easy to start rumors that can indeed affect the market like the butterfly effect, but this is also true for any traditional securities market as well.

Separate from this are people who randomly 'pump' or 'dump' btc or any other crypto with positive or negative 'fake' news or predictions, but these are typically people with very little stake in crypto... they are often people who just are hoping for it to go up, or who are bitter or angry from past crypto losses or generally poor financial situations in their own lives.

Agreed ,It’s very unlikely Bitcoin fits this description because Bitcoin offers value as a form of money using the, Bitcoin sufficiently solves the problem of reaching a consensus among a network of untrusted peers, allowing for funds to be quickly transferred to anyone on the planet without trusting a 3rd party. Bitcoin is the first payment system to accomplish this.

Dapper

sr. member

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Also quite true. Penny stock pump and dumps are selling stocks in something people have no utility for. Btc clearly has a utility. (it definitely does for me anyway)

pooya87

legendary

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there is traces of manipulation in any market but just because manipulation happens you can not call it pump and dump. a pump and dump is for something that is purely manipulation and zero real demand. and bitcoin has a lot of real demand. it is still THE decentralized money without competition and the real demand means it will not be pumped and dumped.

First77

member

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Quote from: Turagsoy02 on March 12, 2018, 11:21:45 PM

Base on what I learned here in bitcointalk and understand, Probably not. A pump and dump scheme is a fraudulent operation where the operators own lots of a low-valued stock or commodity, and use mass advertising to lure large amounts of money from new investors, which in turn inflates the price. Once the commodity has reached a sufficiently high price, the operators “cash out” by selling all their holdings, which causes the commodity’s price to plummet, and the later investors lose most of their invested money.What do you think ?

Yes, what you have written applies to Bitcoin 100%.

Bitcoin has been choosen my rich scammers/millionaires as a means to enter the billionaires club by doing nothing. HSBC was involved in $100,000,000,000 money laundering scam so $50 billion for a pump and dump scheme/ponzi looks highly possible.

Invest $10,000,000,000 illegal money, all those technology talks and hype/dreams. Bitcoin $1 to $10,000 in 9 years says everything (super-HYIP)

Read my "Twitter page" below to know all the details and much more..

Dapper

sr. member

Activity: 560

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Maybe and maybe not. For it to be a 'scheme' there needs to be people with a large volume of bitcoins. Just like penny stocks and how some particular stocks are at times controlled by organized crime. Yes, there are people with large tranches of btc and other cryptos and it's actually quite simple and easy to start rumors that can indeed affect the market like the butterfly effect, but this is also true for any traditional securities market as well.

Separate from this are people who randomly 'pump' or 'dump' btc or any other crypto with positive or negative 'fake' news or predictions, but these are typically people with very little stake in crypto... they are often people who just are hoping for it to go up, or who are bitter or angry from past crypto losses or generally poor financial situations in their own lives.

serizawax

jr. member

Activity: 98

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Yes indeed this is a consequence of bitcoin, especially if bitcoin is widely used as a means of payment, the price will be very high. The scheme as you said before, it will go on forever while bitcoin is still used for investment, but with the mature strategy of the investors, they can benefit greatly from bitcoin without fearing the risks.

Turagsoy02

newbie

Activity: 56

Merit: 0

Base on what I learned here in bitcointalk and understand, Probably not. A pump and dump scheme is a fraudulent operation where the operators own lots of a low-valued stock or commodity, and use mass advertising to lure large amounts of money from new investors, which in turn inflates the price. Once the commodity has reached a sufficiently high price, the operators “cash out” by selling all their holdings, which causes the commodity’s price to plummet, and the later investors lose most of their invested money.

What do you think ?

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