Topic: Pump 'n' Dump - Happening Now? - page 2. (Read 5811 times)

Yep, only it took 5000 years to suck them all in

bears look pretty fucking dumb by now its good to just ignore them or let them go silent like most of them have been

Interesting.  Isn't this one of the main ways that Wall Street judges the value stock price of a company?

ORLY?

• WordPress Now Accepts Bitcoin
• Reddit to accept bitcoin for premium service
• Mega update: Dotcom’s service now accepts Bitcoin
• Internet Archive To Pay Salaries Partly In Bitcoin
• Online Gambling With Bitcoins
• BitcoinStore launching
• Namecheap accepts Bitcoins

Just a few of the bigger examples.

So, by that logic the increase in the price of gold from $450 to $1700 in the last decade is a large bunch of noobs getting slowly sucked into an expensive "bubbly" dubious investment, exchangeable only for cash...

Interesting but only proves that there are the same number of noobs as before.  Only this time, it took a year to suck them in instead of a month.  You still cant really do anything except buy cash.  These are the fundamentals that I'm referring to.  Nothing has changed. 

This is why I think the market will be very volatile in the coming year.

Maybe I can help you there:



I'd consider the number of people interested in obtaining Bitcoin as a pretty strong fundamental property and the much slower rate of increase hints towards this number being by far more sustainable than in 2011.

I hate to be that guy but I have to say yes, this is a bubble.  I can see no difference in the marketplace or the usability of btc now then during the previous bubble.  I'm calling another week of run up's and then a decline back to 10. 


As far as I can tell, the interest is being driven by
1) who will risk being the guy who buys the next $300,000 btc pizza?  I must save my coins until they hit my price where I can cash out.
2) merchants, want to capitalize on the free advertising that accepting bitcoins allows.  Plans to cash out as their vendors don't accept btc.
3) newbs hearing about this btc thing and that early adopters will be rewarded more then everyone else.  They want to get in, but its difficult to get your cash into the market so its slowly filtering in


The first two people are only interested in getting the cash, which is worth more then the btc to them.
The second person is only interested in doing what the first two people did.

Where is the actual value in that? 

I cant see one fundamental thing that is different now then back when the last bubble happened.  The only thing I can say for sure that BTC is good at is temporarily storing cash electronically.  But since the money isn't really going to stay in the system and will eventually be cashed out, your price is going to depend on how many people are using it at that time. 

So what is happening is, all the newbs are rushing in trying to be a part of this btc thing(just like last time).  However when the reality of how limited the economy is and the downsides to not waiting till the price to keep going up sets in, people will cash out.  As long as newbs keep rushing in, the price will remain high.  As soon as that slows, the price will drop back to a more realistic level which I'm saying is about between $5 - $10 short term. 

Long term, I still believe that the potential is huge but to assign a price based on potential and not actual results is speculation.  Right now, speculation is running high while the actual results are not there yet. 

That's a great post! You're right, that transaction chart is pretty good evidence that the rally is fundamental. Kind of makes me juicy for more bitcoin.

A real-world metric of actual bitcoin usage shows an exponential increase similar to the price chart.

https://blockchain.info/charts/my-wallet-n-tx?showDataPoints=false&show_header=true&daysAverageString=7×pan=&scale=0&address=

Only if this was level would the pump&dump theory have legs

nah look at the log graph its on the line it make overshoot a bit, but its on trend

I read either on their blog or in another thread that it's a rolling 24 hour limit.

I tried to do an order through them a few minutes ago, they said they already reached their daily limit. Do they operate on weekends? When does their day start?

Coinbase is frequently selling out of coins. It took me three tries today in order to actually get an order in, starting from fairly early in the morning.

What you are describing is called "Supply and Demand" isn't it?

MtGox has the supply, and Coinbase is providing a demand.  Isn't that how it's supposed to work?

I see it's all gone quiet, maybe Evil mc-Nipulator is listening.

It's me, I'm doing it.

I'm buying BTC when it's cheaper before selling when it is more expensive.

Think about this...A few people have enough cash to go long and they make sure they hit their mark.  Its a win-win situation.

Because it's much easier to manipulate a $350 million market vs a multi-billion market.  And MtGox has the volume needed in this sort of scheme, you can't get rid of that many coins anyplace else as easily.



Irrelevant.  This is looking at it from the standpoint of someone like you or I, who wants to see Bitcoin succeed in the long-term.  Someone with big pockets could just see an opportunity to make a quick buck.  Their bullishness/bearish outlook on Bitcoin doesn't matter if all they're looking to do is make a few hundred thousand and move on.

I'm not saying this is actually occurring, I have no idea and as Bitcoin's market cap (for lack of a better word) increases, it further distances itself from being the low hanging fruit by potential market manipulators.  But it shouldn't be something easily dismissed either.