Topic: Was Bitcoin actually just a Pump and Dump? (Read 44980 times)

Pump and dump is a scheme that attempts to boost the price of a stock through recommendations based on false, misleading or greatly exaggerated statements. The perpetrators of this scheme, who already have an established position in the company's stock, sell their positions after the hype has led to a higher share price. This practice is illegal based on securities law and can lead to heavy fines.

Who is pumping and dumping bitcoin? There is no central authority for Bitcoin. It was created by Satoshi and work carried on by other developers. And when will the dump happen?

In normal pump and dump schemes the product has no utility and the investors dump it after they have found a few fools to buy their stock. this is not the case with bitcoin.

However, it's still a pump made by the human. It doesn't automatic become strong and increase more in the value. It depends on the whale are the trader have money to pump and dump. The whale need to do that because they do that to making profits, so dump time is also neccessary for them.

Based on the status of bitcoin. Pumping and dumping bitcoin could provide you income but its not that worth it since we could still see that bitcoins value is still increasing. This means that your money could have provided more value to you.

I do not think so, as we know that today the bitcoin marketcap has reached more than $ 130 billion, and it will certainly be difficult for anyone to create a pump or dump. everything happens purely from the market because of active users bitcoin trading.

This is an open discussion, so your thoughts more than welcome.

Here is what i think that happened:

"A few people with a lot of money, a few brilliant ideas and the will to fuck everyone up in order to make loads more money came up with a great idea: let's create digital money, some bullshit about fighting banks, some japanese guy that doesn't really exist, silkroad for a bit.
Let's give this Bitcoin thing value by pumping the hell out of it, and let it drop on  a bunch of unwanted childs that dream of getting rich with this shit.
In the Meantime we will have an organized ring of scammers ( Karpelles, cryptorush, mintpal.. etc etc .. ) that will make us even richer.
We will also have another organized ring of scammers/devs that will create new coins so we can pump and dump the hell out of them to make even more and more money.
Once this shit gets regulated we will just leave with more billions and see ya"

In a project in which so much money is handled, there could have been the possibility that someone would plan that, but taking into account the many years that had to pass so that the capital really began to be interested in bitcoin, it would undoubtedly have been a disappointing wait, without guarantees of success.

In addition, I believe that cryptocurrencies have proven to have a real usefulness to facilitate things in real life, so if someone plans to leave with the money collected so far, the cryptocurrencies would continue their evolution in an organic way because they are here to stay and improve the current economy.