Was Bitcoin actually just a Pump and Dump? - page 30.

BitCoinNutJob

legendary

Activity: 1316

Merit: 1000

Quote from: Jbanna on October 29, 2014, 07:04:23 PM

I think mtgox artificially rose btc prices by adding some 0's here and there on the trading books thus creating fake volume.

Take a look at it---
Mtgox the day before the 3 month rally (October-December) to $1200
Price was $135

Mtgox the day it closed from insolvency
Price was $135

conspiracy? .... Tongue

lol i take it you are joking.

But in seriousness that rally started from the even bigger drop off of the back of silk road closing.

devphp

sr. member

Activity: 336

Merit: 260

Quote from: tanaka on October 30, 2014, 08:15:53 AM

Quote from: Hiraga on October 30, 2014, 04:53:20 AM

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?

Wallstreet stock market is not a free market. Why do you compare them?

tanaka

member

Activity: 87

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Quote from: Hiraga on October 30, 2014, 04:53:20 AM

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?

Hiraga

full member

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Pumps and dumps happen all the time in every market until it finds the proper range to stay in for longer term.

ninjaskip

sr. member

Activity: 574

Merit: 250

Quote from: 1Referee on October 30, 2014, 04:42:14 AM

Bitcoin is being used as pump and dump from time to time, same with stocks. Nothing wrong with that.

There are always traders with huge loads of fiat to initiate pumps, and once they think the time is right, they sell. Let it happen, and benefit from it.

Money moves mountains.

You got it right, and i think this is my point here, SAME WITH STOCKS.
And this is what killed BTC and crypto, that is being use as stocks and the original idea seems like a ponzi scheme now.

ninjaskip

sr. member

Activity: 574

Merit: 250

Quote from: unusualfacts30 on October 30, 2014, 04:37:00 AM

It's pump & dump but you need big money to manipulate so it doesn't get as much manipulation as other coins which are cheaper. In other words BTC is the safest coin you can invest in.

They started to manipulate the price with bots from an early stage, the money to manipulate it is there, and there is plenty.
I also understand that loads of people that hold Bitcoins will go around supporting the "idea" behind it, as they can only hope they will recover what they invested.

1Referee

legendary

Activity: 2170

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Bitcoin is being used as pump and dump from time to time, same with stocks. Nothing wrong with that.

There are always traders with huge loads of fiat to initiate pumps, and once they think the time is right, they sell. Let it happen, and benefit from it.

Money moves mountains.

ninjaskip

sr. member

Activity: 574

Merit: 250

Quote from: bitcoinwien on October 30, 2014, 04:10:12 AM

I had fun the last year with Bitcoin
I got in July and now Im out of this crap and ready for the next best thing

Bitcoin was cool but face it, all you can do with it is pay for the same crap as you would with Fiat( faster and maybe more anonymous)
but are getting tired of always having to buy and sell shit

for what so I can look at ly rolex and say im a good guy

seriusly fuck this shit

we should come up and create something that destroys the whole fucking currency bullshit
now that woul be something we all need

Lets free us from the Monetary system, fuck this crap,
Greed has destryed every civilisation so far sooner or later
just look back in History

I seriously had hopes that with bitcoin you can tell your bank to fuck off and so did i after i made my first 25k on Bitcoin but come on
Bitcoin is dead, the Banks are even more greeder and more eveil now since they found out Bitcoin couldnt stop them

My Point is if we want a currency that works we need to fucking stop creating a currency cause a currency wont last

We need a currency free society thats it

Amen

Could not agree more Grin

unusualfacts30

hero member

Activity: 1540

Merit: 500

It's pump & dump but you need big money to manipulate so it doesn't get as much manipulation as other coins which are cheaper. In other words BTC is the safest coin you can invest in.

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

Yea, let's spread more FUD to enable me to buy more cheap coins. ^Smile^

It's always nice to see people panic and run. ^Laugh^

Just make it easier for the true bitcoiner to make more money.

bitcoinwien

newbie

Activity: 19

Merit: 0

I had fun the last year with Bitcoin
I got in July and now Im out of this crap and ready for the next best thing

Bitcoin was cool but face it, all you can do with it is pay for the same crap as you would with Fiat( faster and maybe more anonymous)
but are getting tired of always having to buy and sell shit

for what so I can look at ly rolex and say im a good guy

seriusly fuck this shit

we should come up and create something that destroys the whole fucking currency bullshit
now that woul be something we all need

Lets free us from the Monetary system, fuck this crap,
Greed has destryed every civilisation so far sooner or later
just look back in History

I seriously had hopes that with bitcoin you can tell your bank to fuck off and so did i after i made my first 25k on Bitcoin but come on
Bitcoin is dead, the Banks are even more greeder and more eveil now since they found out Bitcoin couldnt stop them

My Point is if we want a currency that works we need to fucking stop creating a currency cause a currency wont last

We need a currency free society thats it

Amen

zetaray

hero member

Activity: 658

Merit: 500

Bitcoin was created as an experiment to make a statement about the current fiat money system. The statement echoed, gathered many supporters around the world. Some started to mine it for its technical ingeniousity, others mined it for fun. Some had high hopes for bitcoin, but I do not think miners at the time could foresee the success bitcoin has now.

It wasn't designed to be pump and dump from day one, early hoarders made it that way, and now VC funds will continue that trend.

smoothaces

member

Activity: 70

Merit: 10

I think the people who call it pump and dump don't understand the idea behind bitcoin.
It is getting sold or traded for fiat not dumped.

EternalWingsofGod

hero member

Activity: 700

Merit: 500

If it was a pump and dump
Someone had to create the exchange and the merchants and all the work to get people to use it
In other words it was one heck of an elaborate scheme in order to make his payday (What differentiates that from working and building a company from scratch ^_^)

fulgurite

member

Activity: 73

Merit: 10

currently, yeah, it is a pump and dump, because it is not accepted by all of us, and just circulated by certain amount people who know about it, but in the future when it is regulated, and gain popularity, it won't be like that, I'm sure about that.

californiaquail

full member

Activity: 270

Merit: 130

DeLouvois.com Bitcoin Luxury Marketplace Est. 2016

for what it's worth, the internet was global P&D until the 2000 bubble...
Right now CryptoCC world isn't even close to that. but there is so much alts to invest in, so much businesses to get in touch with around the planet..
As a web developer from the age of 11, CryptoCCs truely are revolutionary.

For CC's get to that point we will need at least another global financial crisis, there will be pumps, there will be dumps, but ten years from now when that will happen, regardless that 300 floor..
Only a small fraction will still be sitting here and rewarded for those risks Wink

Evangelize&Hold&Pray

segvec

full member

Activity: 196

Merit: 100

The cheddar breed jealousy

Noobs and beginners say things such as what you mentioned.
A pump and dump?...get real.

achtung082

sr. member

Activity: 358

Merit: 255

Its a pump and dump every 2 weeks.

Victoo

sr. member

Activity: 393

Merit: 250

If bitcoin was just a Pump and Dump coin it couldn't have survived many years.

It's a great concept and I hope at some point it would be acceptable by governments and other big organizations worldwide.

factor280

sr. member

Activity: 326

Merit: 250

If it was... well played Satoshi. Lol.

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