Walmart attorneys need to be all over this… someone falsely and intentionally represented the company and what makes this even worse is that it fooled so many news outlets which in turn leads to many more people getting fucked over.
I hope they move forward and clear the smoke up on who is up to this bs.
Topic: Walmart Confirms Litecoin Partnership Is Fake (Read 405 times)
We had to give the benefit of the doubt to the Litecoin Foundation, the Foundation also already denies it. As you say, we can't know for sure about this since all of eyes are going to GlobeNewswire, the one who started the news.
I don't think the Litecoin Foundation had anything to do with this. If they wanted to do a pump and dump or rug pull, they wouldn't have waited until now; they have had plenty of opportunities to do so in the past. According to GlobeNewswire, they plan to request and facilitate a full investigation with the appropriate authorities, which should hopefully lead to the discovery of the perpetrator.
"When GlobeNewswire became aware this morning that a fraudulent user account was used to issue an illegitimate press release we promptly withdrew the press release and issued a Notice to Disregard. This has never happened before and we have already put in place enhanced authentication steps to prevent this isolated incident from occurring in the future. We will work with the appropriate authorities to request – and facilitate – a full investigation, including into any criminal activity associated with this matter," the company said in a statement provided to FOX Business.
https://www.foxbusiness.com/markets/globenewswire-walmart-litecoin-fake-fraudulent-user-account
Exactly, it's kinda like a PnD scheme, isn't it?
We couldn't be sure about this. But I think Litecoin developers are not directly involved in this if this was indeed a planned pump and dump scheme. Litecoin is unlike many shitcoins that are just pump and dump coins. Litecoin is certainly more than that.
Although it was a mistake on the part of Litecoin to just publish what is clearly an unverified report taken from Reuters, they showed that they haven't the slightest of intention of misleading the public with that fake news.
We had to give the benefit of the doubt to the Litecoin Foundation, the Foundation also already denies it. As you say, we can't know for sure about this since all of eyes are going to GlobeNewswire, the one who started the news.
As usual, rumor is raised to pump a coin and this moment is utilized by certain parties to get profits.
And once they have, the rumor will be broken by the person concerned, in this case, Walmart.
I feel sorry for the coin buyers who are trapped in a pump and dump flow like this, especially when they buy when the price is high.
But moments like this will never end. There will be other rumors that will be raised, associated with other world-class high-ranking companies, the world's top institutions, as well as certain countries.
And because of this, we should not easily believe in rumors. only, if we can take advantage of the rumor at the right moment, we can benefit, but not for the long term if it's still just a rumor.
And once they have, the rumor will be broken by the person concerned, in this case, Walmart.
I feel sorry for the coin buyers who are trapped in a pump and dump flow like this, especially when they buy when the price is high.
But moments like this will never end. There will be other rumors that will be raised, associated with other world-class high-ranking companies, the world's top institutions, as well as certain countries.
And because of this, we should not easily believe in rumors. only, if we can take advantage of the rumor at the right moment, we can benefit, but not for the long term if it's still just a rumor.
Obviously fake. Can't believe litecoin actually pumped over that. All ypu had to do was look for a Walmart announcememt and there was none. Crappy part is some people lost some sizable money on that fake news pump. If it sounds too good to be true it probably is. Why would they choose litecoin over bitcoin anyway?
Walmart, Amazon, and I expect more known companies to be used for personal interest and to scam people. It was too sad that many people just trust news like this but neglected to visit the official site for the said announcement. Nowadays, it was easy for the scammers and create such unreliable sources of information to get some attention and use that tool for their evil plan. 
i thought it was genuine but seeing walmart as the biggest retailer in america if want to make payments via crypto i think i would choose btc as the main one. however since this news is fake it seems that some parties are using it to take short advantage.
Agreed, with the huge cashflow on the Walmart, choosing BTC with its Lightning Network seems more reasonable than suddenly using LTC. Of course some people would take that opportunity to gains profit after realizing that something wrong on the news.
Creating fake news to pump the price of a certain coin, isn't something new in crypto market. This fake news about Litecoin Partnership is only one of the examples of various fake news created by some people to take profits instantly. Because lately tweeter becomes a trending place for crypto news after it was used by Elon Musk to boost Doge price, some people have an idea to create fake news through some tweets on Twitter. I am not surprised to know this, many crypto users keep their eyes on Twitter now. Anyway, we must appreciate that Litecoin Foundation has made a clarification to let people know the fact.
Why would they choose litecoin over bitcoin anyway?
Perhaps because Litecoin has a lower transaction fees and faster confirmations? Also, Litecoin is the oldest cryptocurrency for which there is an active community as far as I know.
Obviously fake. Can't believe litecoin actually pumped over that. All ypu had to do was look for a Walmart announcememt and there was none. Crappy part is some people lost some sizable money on that fake news pump. If it sounds too good to be true it probably is. Why would they choose litecoin over bitcoin anyway?
There are many such acts of using fake news to manipulate the market. If someone can make a table of all the price fluctuations caused by fake news, I guess this table will be very interesting.
Or where can I get comprehensive "fake news"？
Or where can I get comprehensive "fake news"？
Currently there are too many fake news, social media gives space for anyone to become a journalist or resource person, especially with the viral feature, fake news is easy to spread so we have to be careful and always look for official information, for me this is not too influential, I still hold Litecoin because without Wallmart Litecoin will continue to shine
i thought it was genuine but seeing walmart as the biggest retailer in america if want to make payments via crypto i think i would choose btc as the main one. however since this news is fake it seems that some parties are using it to take short advantage.
We do not even have to go back to when we started, there was a talk about how amazon will accept bitcoin just recently and this sudden push was around those times as well. Amazon said that it was wrong but the price was already high. I can't say that I am too upset over the fake news like these, they may not be ideal but they surely do end up making the prices change a lot and that is a good thing, I personally rather see that then anything else.
Sure, it would be awesome if amazon accepts bitcoin and walmart will have a partnership with litecoin, that itself would be awesome but I rather have fake news like these than no news at all since it works for me. Normally fake news are bad but in this case they do help us get the prices higher so why would be mad about something that is benefiting me? I hope there are more of these in the future as well.
Sure, it would be awesome if amazon accepts bitcoin and walmart will have a partnership with litecoin, that itself would be awesome but I rather have fake news like these than no news at all since it works for me. Normally fake news are bad but in this case they do help us get the prices higher so why would be mad about something that is benefiting me? I hope there are more of these in the future as well.
I disagree 100%.
You are essentially saying that you are fine with market manipulation using fake news, as long as it benefits you. This is plain wrong. How can you be sure that it will remain beneficial in the long run? IMO, it will scare away many potential investors, including institutions. And when someone is manipulating the market and gaining from it, on the other side there will be someone who is losing money. This can be some noob who has just made his investment with cryptocurrency, or some experienced trader who made a mistake in investing when the prices are high.
something bad has done LTC. this definitely has an impact also for their long term market.
We do not even have to go back to when we started, there was a talk about how amazon will accept bitcoin just recently and this sudden push was around those times as well. Amazon said that it was wrong but the price was already high. I can't say that I am too upset over the fake news like these, they may not be ideal but they surely do end up making the prices change a lot and that is a good thing, I personally rather see that then anything else.
Sure, it would be awesome if amazon accepts bitcoin and walmart will have a partnership with litecoin, that itself would be awesome but I rather have fake news like these than no news at all since it works for me. Normally fake news are bad but in this case they do help us get the prices higher so why would be mad about something that is benefiting me? I hope there are more of these in the future as well.
Sure, it would be awesome if amazon accepts bitcoin and walmart will have a partnership with litecoin, that itself would be awesome but I rather have fake news like these than no news at all since it works for me. Normally fake news are bad but in this case they do help us get the prices higher so why would be mad about something that is benefiting me? I hope there are more of these in the future as well.
I disagree 100%.
You are essentially saying that you are fine with market manipulation using fake news, as long as it benefits you. This is plain wrong. How can you be sure that it will remain beneficial in the long run? IMO, it will scare away many potential investors, including institutions. And when someone is manipulating the market and gaining from it, on the other side there will be someone who is losing money. This can be some noob who has just made his investment with cryptocurrency, or some experienced trader who made a mistake in investing when the prices are high.
I was more surprised that mainstream media are also publishing the story about walmart accepting LTC without verifying its authenticity. Coindesk also did the same thing even the Litecoin official twitter tweeted it about it when the news wasn't even coming from wallmart itself....
The fake news was published by Twitter @litecoin without verification, as it was posted on a fake website Walmart, whose domain was specially registered for this scam. I wrote about it here: https://bitcointalksearch.org/topic/m.57931574 You need to be prepared for the fact that now they will try to repeat a similar scam with other coins.
My gad. It's a shameless attempt so basically, it was organized. Not sure if they can investigate point who did this but it's destroying the reputation of cryptocurrency when they do this. Those who are trying to join to seize some LTC quickly to make a profit must have been punked.
LTC dev might not be involved in it. But I think whoever put a big sell wall during that time is part of it.
This is a proof that buying the rumor and selling the news is still working out even in a different way. Lol.
But it is now debunked, let this be another great example for newbies not to fall for this kind of trap, otherwise if they invested on the top, damn, another big lost for them. Good for those who was able to cash out and get their profits though. This is a cat and mouse game, and those who survived are those who know how to play not by the rules, sad to say.
Exactly, it's kinda like a PnD scheme, isn't it?We couldn't be sure about this. But I think Litecoin developers are not directly involved in this if this was indeed a planned pump and dump scheme. Litecoin is unlike many shitcoins that are just pump and dump coins. Litecoin is certainly more than that.
Although it was a mistake on the part of Litecoin to just publish what is clearly an unverified report taken from Reuters, they showed that they haven't the slightest of intention of misleading the public with that fake news.
There are many such acts of using fake news to manipulate the market. If someone can make a table of all the price fluctuations caused by fake news, I guess this table will be very interesting.
Or where can I get comprehensive "fake news"？
It is because they know that even showing fake news, will make the market move to their likings. Or where can I get comprehensive "fake news"？
Well, just consider every news that comes out with known and unknown sources to be verified first. That's my take to it that it should be validated first so that it will be known if it's fake or not.
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...I wonder why would such an unverifiable announcement got released. Does anyone know why that happening? Does the Twitter account got hacked or something?..
It is obvious that such fake news is produced for the sole purpose of making a profit. It is quite possible that someone sold off LTC at a higher price before the subsequent decline. It is surprising that litecoin acted as a locomotive, after which the price of major cryptocurrencies, such as BTC and ETH, increased.
I was more surprised that mainstream media are also publishing the story about walmart accepting LTC without verifying its authenticity. Coindesk also did the same thing even the Litecoin official twitter tweeted it about it when the news wasn't even coming from wallmart itself....
The fake news was published by Twitter @litecoin without verification, as it was posted on a fake website Walmart, whose domain was specially registered for this scam. I wrote about it here: https://bitcointalksearch.org/topic/m.57931574 You need to be prepared for the fact that now they will try to repeat a similar scam with other coins.
I have been around for almost 10 years in the cryptocurrency sector, and I can say with 100% surety that this is not the first time I am witnessing such an incident. There is some sort of tolerance in the world of cryptocurrency towards fake news. I have seen established crypto-news portals such as Cointelegraph churning out fake news at a rate of 1 article per hour. Since they use fake news mostly for the purpose of clickbait, we don't usually complain about it. But here, fake news was used to manipulate the market. That is a different topic altogether.
We do not even have to go back to when we started, there was a talk about how amazon will accept bitcoin just recently and this sudden push was around those times as well. Amazon said that it was wrong but the price was already high. I can't say that I am too upset over the fake news like these, they may not be ideal but they surely do end up making the prices change a lot and that is a good thing, I personally rather see that then anything else.Sure, it would be awesome if amazon accepts bitcoin and walmart will have a partnership with litecoin, that itself would be awesome but I rather have fake news like these than no news at all since it works for me. Normally fake news are bad but in this case they do help us get the prices higher so why would be mad about something that is benefiting me? I hope there are more of these in the future as well.
Negative issues are common in cryptocurrencies, we shouldn't be surprised because since bitcoin has been around since 2009 there has been a lot of negative news about cryptocurrencies aimed at giving pressure and fear to crypto owners, even though Wallmart confirmed this information but this has no impact on Litecoin, instead the price goes up about 3%.
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