Looking at the charts andif you compare them with other Alt Coins, anyone might think Bitcoin is a pump and dump
So what if it is, it has created a free market for drugs and it revolutionized the way people can pay each other.
I understand so what, who cares about Drugs, well Millions of people do and its about time that the Drug Markets needs to be regulated new.
Thanks to Bitcoin it has gotten a lot easier to buy and sell drugs and to launder money, isnt that already a success in itself??
We are coaught in the monetary system, we cant even opt out of it and thats terrible, so now with Bitcoin we at least had a slight chacne to do BUsiness without the fucking government knowing what we do, so maybe Bitcoin was just the beginning and something bigger is about to happen
Fuck the Governments banks and all those fucking controll freaks
Power to the People
Topic: Was Bitcoin actually just a Pump and Dump? - page 29. (Read 45023 times)
In order to prop up the initial system, Bitcoin mining was designed to bribe early users with exponentially better rewards than latecomers could get for the same effort.
This effectively makes Bitcoin a pump-and-dump scheme wherein these early adopters, who have more bitcoins than anyone else ever will, hype it up so they can offload their bitcoins onto fools who think they'll strike it rich as speculators, or whomever else will accept them as payment. Basically, this means the system runs on opportunism, especially among people who like the idea of decentralized techno-money. Although this setup is defended as an acceptable trade-off and/or a fair reward for propping up the system, this presumes that it will actually result in a widespread, reliable currency.
This effectively makes Bitcoin a pump-and-dump scheme wherein these early adopters, who have more bitcoins than anyone else ever will, hype it up so they can offload their bitcoins onto fools who think they'll strike it rich as speculators, or whomever else will accept them as payment. Basically, this means the system runs on opportunism, especially among people who like the idea of decentralized techno-money. Although this setup is defended as an acceptable trade-off and/or a fair reward for propping up the system, this presumes that it will actually result in a widespread, reliable currency.
I agree!
He is trolling and spreading FUD.
Ignore = On
It is clear, he has no clue and is talking through his a$$
Ignore = On
It is clear, he has no clue and is talking through his a$$
Bitcoin is a farce. The "free market economy" in miniature. There is nothing new, it isnt "decentralized" or whatever you thought. It is nothing more then a big scam, initiated by some inteligent guyz, but let me explain this to you:
The mining pools are the governmental institutions, they create BTC out of nothing (federeal reserve). The exchangers are the banks, they trade with BTC like shares. That means there is no consideration for those who "believe" in Bitcoin, early birds do their profit, all the others have to pay the bill. If you guys would know what I know... All exchangers manipulate the prize (because there is no regulation), yea you hear right, they can write whatever they want on their website! Bitcoin has no value, exact as FIAT. Its only the people who believe it has! Exchanger make $$$ out of nothing because of high-speed trades between each other. At the end there is the blackmarket (silk road). And all is controlled by a very very little amount of people, but there have their fingers in..
You guys should stop supporting it.
The mining pools are the governmental institutions, they create BTC out of nothing (federeal reserve). The exchangers are the banks, they trade with BTC like shares. That means there is no consideration for those who "believe" in Bitcoin, early birds do their profit, all the others have to pay the bill. If you guys would know what I know... All exchangers manipulate the prize (because there is no regulation), yea you hear right, they can write whatever they want on their website! Bitcoin has no value, exact as FIAT. Its only the people who believe it has! Exchanger make $$$ out of nothing because of high-speed trades between each other. At the end there is the blackmarket (silk road). And all is controlled by a very very little amount of people, but there have their fingers in..
You guys should stop supporting it.
So, let me get this straight. It's unregulated, but it isn't decentralized? It's open source, but it's a scam? Mining pools are government institutions, but that's where most of the individual miners mine? It's like the Federal Reserve, but the supply is mathematically predictable and capped? Exchanges make "$$$," but that's from sending their own money back and forth to themselves (uh, what?)?
definitely not. If it is just like that, then people won't be so active and fascinated about it, our gov wouldn't allow that.
In order to prop up the initial system, Bitcoin mining was designed to bribe early users with exponentially better rewards than latecomers could get for the same effort.
This effectively makes Bitcoin a pump-and-dump scheme wherein these early adopters, who have more bitcoins than anyone else ever will, hype it up so they can offload their bitcoins onto fools who think they'll strike it rich as speculators, or whomever else will accept them as payment. Basically, this means the system runs on opportunism, especially among people who like the idea of decentralized techno-money. Although this setup is defended as an acceptable trade-off and/or a fair reward for propping up the system, this presumes that it will actually result in a widespread, reliable currency.
This effectively makes Bitcoin a pump-and-dump scheme wherein these early adopters, who have more bitcoins than anyone else ever will, hype it up so they can offload their bitcoins onto fools who think they'll strike it rich as speculators, or whomever else will accept them as payment. Basically, this means the system runs on opportunism, especially among people who like the idea of decentralized techno-money. Although this setup is defended as an acceptable trade-off and/or a fair reward for propping up the system, this presumes that it will actually result in a widespread, reliable currency.
Bitcoin, like most things, is I'm sure different things to different people.
On balance I see most of the interests from the primary development parties as something other than a pump-n-dump. My sense is that from the Bitcoin Foundation side is that it is another method for the same old surveillance and control that characterize our more mainstream exchange solutions. From the blockstream associated side my sense is that the originally advertised decentralized peer-2-peer ideas still seem workable to them. To a lot of those who choose to become whales I imagine that it was a genuine pump-n-dump opportunity. We'll know if/when they start dumping I guess.
Bitcoin is not a "pump and dump" and even if that's how it started out the creators are going to have a hard time crashing it, if they dump a heap of coins they will just get snapped up quickly again by keen bitcoiners.
Bitcoin is a farce. The "free market economy" in miniature. There is nothing new, it isnt "decentralized" or whatever you thought. It is nothing more then a big scam, initiated by some inteligent guyz, but let me explain this to you:
The mining pools are the governmental institutions, they create BTC out of nothing (federeal reserve). The exchangers are the banks, they trade with BTC like shares. That means there is no consideration for those who "believe" in Bitcoin, early birds do their profit, all the others have to pay the bill. If you guys would know what I know... All exchangers manipulate the prize (because there is no regulation), yea you hear right, they can write whatever they want on their website! Bitcoin has no value, exact as FIAT. Its only the people who believe it has! Exchanger make $$$ out of nothing because of high-speed trades between each other. At the end there is the blackmarket (silk road). And all is controlled by a very very little amount of people, but there have their fingers in..
You guys should stop supporting it.
The mining pools are the governmental institutions, they create BTC out of nothing (federeal reserve). The exchangers are the banks, they trade with BTC like shares. That means there is no consideration for those who "believe" in Bitcoin, early birds do their profit, all the others have to pay the bill. If you guys would know what I know... All exchangers manipulate the prize (because there is no regulation), yea you hear right, they can write whatever they want on their website! Bitcoin has no value, exact as FIAT. Its only the people who believe it has! Exchanger make $$$ out of nothing because of high-speed trades between each other. At the end there is the blackmarket (silk road). And all is controlled by a very very little amount of people, but there have their fingers in..
You guys should stop supporting it.
I've pumped in over 5000 GBP.
Hopefully one day I can dump it all for 100,000 - 200,000 GBP
Hopefully one day I can dump it all for 100,000 - 200,000 GBP
This describes to the perfection what Bitcoin is all about ATM.
it may have been adopted by people as a medium for a pump and dump, but i don't believe it began as one
bitcoin is actually an innovative tech..it is valuable. what it should be valued at, i don't know.
bitcoin is actually an innovative tech..it is valuable. what it should be valued at, i don't know.
I've pumped in over 5000 GBP.
Hopefully one day I can dump it all for 100,000 - 200,000 GBP
Hopefully one day I can dump it all for 100,000 - 200,000 GBP
regardless of worrying about the past and what might or might not have been shouldn't we focus more on the current and future status of Bitcoin? Even if that was the plan, that doesn't change where we stand with it right now. It's still worth $350, and it's still being adopted by more people and companies every day. Bitcoin still has a bright future and it's time to capitalize on it.
...someone asked back in october 2012... and then in october 2013... and yesterday... Some things just don't change in the bitcoin world 
I am not agree with you man, there is not any manipulation..
I am not agree with you man, there is not any manipulation..
I don't have any doubt that this was all just big pump and dump, but my theory is, even the BTC creators didn't realize that Bitcoin would go this far.
Everything is literally a big pump and dump, life itself its. Now, was this an intended, scammy p and d? nope. Bitcoin was always a legit genuine project. People gave it an insane value out of nowhere, they decided it was 1K a coin, now it's crashing. Will people re-gain trust? We'll see. My opinion is yes, because people will start lossing trust in institutions.
No. Typical pump and dump will usually be over in less than a year. Bitcoin has survived the test of time and we have seen the price rebounced couple of times. The buying interest is still there
That's impossible
Satoshi Nakamoto never touch his bitcoin
Does they wait for a long time, and i think it's extremely risky
But, the dump will happen if satoshi nakamoto / anyone who can access the wallet sold all bitcoin at same time
Satoshi Nakamoto never touch his bitcoin
Does they wait for a long time, and i think it's extremely risky
But, the dump will happen if satoshi nakamoto / anyone who can access the wallet sold all bitcoin at same time
No, it's not a 'pump and dump', though maybe if satoshis coins all got dumped it would be?
Pump and dump scheme is illegal in wallstreet stockmarket right? Is it illegal in bitcoin too?
You can't really stop someone from dumping their coins.
Pumps and dumps happen all the time in every market until it finds the proper range to stay in for longer term.
Pump and dump scheme is illegal in wallstreet stockmarket right? Is it illegal in bitcoin too?
You can't really stop someone from dumping their coins.
Jump to: