Will you not get mad if I say Bitcoin is the multi-billion dollar pump and dump?

rartokens

newbie

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Quote from: rartokens on March 20, 2018, 03:47:05 AM

Since Jan, there was a lot of recommendations to buy bitcoin, but since then the price has gone down drastically.
Still, up to now, the same thing is played over and over again. What is the difference now?

Other than is cheaper now or it will 50K in the future, could anybody has any good reason?

Just throw something that community could think objectively.

levvv

member

Activity: 532

Merit: 17

If bitcoin was a billion dollar pump and dump, it would be dead years ago.
bitcoin has gained many users, investors, and holders. so i guess bitcoin is not a lame pump and dump scheme.

Za1n

legendary

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There is no point to getting mad as it only serves to cloud your judgement. Myself I like and support Bitcoin, but I can also see at the same time that there are other interests aligned against it, both for profit and other reasons.

Also, since there is money to be made it would be foolish to think there is no manipulation going on in the markets.

I often suspect a lot of the manipulation (in price) is due to the exchanges themselves. I have a suspicion that if one could hypothetically buy up all the Bitcoin on all the exchanges you would end up with more than the 21 million supply.

This would be quite the trick considering only about 17 million Bitcoin have been mined, and some of that is locked up and/or permanently inaccessible. So in essence I believe some exchanges might be listing more Bitcoin than they could truly sell thus helping to contribute to the massive price manipulations we have been witnessing.

This combined with practices such as some exchanges providing leverage and now the CBOE and CME futures contracts means Bitcoin is just turning into another financial product and getting away from its original vision of a decentralized, limited supply, deflationary currency.

lyks15

full member

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Yes I will get mad because I have a lot of investment at bitcoin not only a money but also a time and effort that I was invest for almost a year that I do things or business about bitcoin. But that is okay because I know that the real meaning and purpose of bitcoin will be happen to all of us and I will stay do and invest at bitcoin even I heard something negative to other people. Because I know what I want and I know what I do so I wont listen to their negative opinion. And I know that when many people are still negative about bitcoin,bitcoin will more powerful and will rise again.

ethereumhunter

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Leading Crypto Sports Betting & Casino Platform

Quote from: rartokens on February 18, 2018, 06:55:15 AM

the other thread was asking if Bitcoin will survive in 2018. My answer, 'definitely it will survive because someone (few) will make a killing again'.

I am not mad because I know bitcoin will always make a pump and a dump right now and in the future. bitcoin will survive for a long time and we can see the price increases again and bitcoin will survive in 2018 and the next years. but if you have your own opinion, then I think it is fine because we are free to say everything. we still waiting for the price back to higher again and we still have time to see the price start to rise in this year so just waiting for a while is the best we can do.

gamaman990

member

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The OP made a common mistake by equalizing BTC to the trading market. BTC is the base of the overall cryptocurrency universe. It consists of the network, miners, holders, merchants and all. Short term pump and dump schemes of course are many but that's unavoidable in any open markets and somewhat even positive in the long run as it attracts attention from the public.

biascoin

jr. member

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Quote from: rartokens on February 18, 2018, 07:28:16 AM

don't take this as personal question. take this objectively and look what on the other side of the coin.

Bitcoin is a noble project to admire, but is this for everyone to get involve or just for speculative investment and limit only to few?

And the rest of "alt coins" are not noble ? xDDDD seriously. The "free people" thing is just bullshit.

Objectively: there is no real need for cryptocurrencies like Bitcoin burning electricity and definitively it has 0 value. The only value it has is a self-fulfilled prophecy, but if no one is using it for real other than for trading then well... no value.

Also it is complex to use, plus you have to pay an extra for every single transaction. To the miners....

Raising Stars

newbie

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well i guess you right

paparexon0414

full member

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Merit: 126

People who doesnt know bitcoin might think its just a pump.and dump situation. Maybe bitcoin is dumping at the moment but its just part of the system. I a not sure if this dumping of this exchange is causing all this havoc, but i am sure that after they finish all their work, bitcoin will rise again and reach it another record high price. Bitcoin for me is a thing created to test your patience and make you strategic in doing it in trading. But as of now, those who still believe in bitcoins capacity to regain its value, need to stay and keep holding. Who knows people who keep bitcoin down will regret in the end.

jayco25

full member

Activity: 336

Merit: 106

I respect your opinion but not the thoughts of many people. Many bitcoin investors believe that it's time to get bitcoin more demand because many establishments and online shopping will accept bitcoin as payment in the future.

#Datarius

Dinar123210

newbie

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Merit: 0

maybe bitcoin will survive in 2018. and so on Wink

xbl1008

full member

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Merit: 103

Its depends primarily on your skills and on the situation you are in, if you are a trader and you have the enough skills to take advantage of the market this can be favorable to you because what ever the dump and pump you can earn trading is indeed based on your skills but if you are a hodler or a investor FUD can weaken your understanding in the market and make your decisions waver.

iconternal

jr. member

Activity: 118

Merit: 1

I really agree with your statement that bitcoin is a pump and dump system, and bitcoin will definitely recover its price at a higher price.

rartokens

newbie

Activity: 168

Merit: 0

Still hovering at 200 SMA.

Is 200 SMA a support or resistance?

iram1011

hero member

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Merit: 521

The way Mms are playing with BTC in last two months by squeezing the longs and shorts equally, it won't be wrong calling Bitcoin a pump and dump. Recently, Whales were dumping their longs by stopping out shorts via wash trading. Wash trading can easily move the market with just $3-5 million, whales hit the stops of shorts and threw there longs on short liquidations.

I can bet that all this is happening hand in glove with big exchanges as whales are exploiting the huge data feeds of stops, longs & shorts .

If this is not an organised pump and dump, then what is?

Eternu

sr. member

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Merit: 257

Quote from: rartokens on March 16, 2018, 01:03:06 PM

The technology is controlled by the community but not the price. The price belongs to someone else. Whoever dictates the price of bitcoin follows rules, analysis, timing, and coordination.
To be protected, before saying to the moon, we must learn to swim along with the whales.

You are wrong, technology is not controlled by community. Big companies and certain people decide what is available for common people like us, and what is for companies and people at the top. We all know that certain technology could not be bought. But Bitcoin is not like other technology, it belongs to all of us.
As for its price, community can "control" the price, but also can whales who posses large number of Bitcoins. And no one can "dictate" price of Bitcoin, and there are no rules when it comes to trading. Analysis can help, and so could other things that you mention. But no one can predict for certain what is coming next. Its all speculations.

rartokens

newbie

Activity: 168

Merit: 0

The technology is controlled by the community but not the price. The price belongs to someone else. Whoever dictates the price of bitcoin follows rules, analysis, timing, and coordination.
To be protected, before saying to the moon, we must learn to swim along with the whales.

armarsterling7

member

Activity: 420

Merit: 10

I believe you. I learned a lot about bitcoin fluctuations and I realized that soon. Before that I had to lose a lot of money because I had no experience of speculation. Since I knew it, I had a different strategy and I had a lot of profit.
The whales control the bitcoin and we must obey the orders of the whales.

rartokens

newbie

Activity: 168

Merit: 0

if every bitcoin bagholders are hodlers looking for lambo, how did it lose 70% of its value? Who dumped the bitcoin?

belford11

newbie

Activity: 66

Merit: 0

yes, it will survive) and not only in 2018 but also in the distant future))

Topic: Will you not get mad if I say Bitcoin is the multi-billion dollar pump and dump? (Read 341 times)