Bitcoin Forum

Notice what are some very obvious pump and dumps occurring on random coins..is this legal? 

It's decentralized, as I know there isn't any rule against pumps and dumps, no one can control it. It depends the effort of many traders that sell and buy the coin. You just need to be attention on fake altcoins that can dump anything and the price never recovers anymore.

It's a good question, and I wonder about this too.  I don't think the U.S. regulates, or can regulate crypto.  But they could regulate their citizen's right to pump and dump an asset.  I'm just not sure if it's covered under any existing laws.  We really need some lawyers posting on this forum; I'm sure they're around somewhere.  Proving someone did a pump & dump might be difficult and might not be worth law enforcement's time.  The dollar amounts are kind of big, but perhaps not big enough to pay attention to.

None of this is really decentralized.. look closely.

Off hand though i would so yes and no.
It's in a state of no law exists.. *yet.

If you all want to compare this stuff to the real "markets" ?
Then remember we don't have a Martha Stewart in jail in crypto for insider trading.
And just imagine how many guys are guilty of that here.
Or running fractional reserve custom back-end exchanges manipulating coin platforms in collusion with coin dev's or.. simply making the "coins" themselves.
Think market regulators making fake stocks. LOL

I think if we applied the template we would see how fucked up and corrupt this shit really is.

I don't know why people are showing up in this scammy scene and choosing to participate.. i wouldn't.

There are no regulations about cryptos, so it is not illegal.

But even with laws the elite powers do it all the time and don't get caught, so doesn't matter.

Is not altcoin a free currency that is not bound by other parties such as Bank or Government ?. No one can forbid to do a dump or pump. A coin will only be controlled by the owner of the person who bought or dev the coin itself.

If there is such a law I am sure the digital currency will not be as popular as this. Bitcoin's presence has a positive impact on unfair global finances. It has been proven that more and more countries are receiving Bitcoin.

Any reason to ask this? Why it should be illegal for a commodity, service or currency to change its price to accommodate demand? It makes sense and that is the way almost everything in the world works, the price rises because something is wanted and decreases when it is not.

For the most part yeah.. but !

USA & CAN and maybe others long ago instituted tax laws.
Most of you are probably guilty of Tax fraud.. same thing that took down Al Capone.

Further more there has been incidents popping up over the years.
The FBI arrested guys in Florida who used Localbitcoins to move about 30k worth of BTC.
They were arrested in a parking lot. (for violating Florida anti-money laundering laws)

The CIA requested the head of the BTC foundation (Gavin) to a meeting and we don't know what was said.

Exchanges that have a getting verified procedure do so to be compliant with US authorities.
A bunch of exchanges have admitted to complying with requests via the 3 letter agencies.
Coinbase & Cryptsy admitted it and i suspect Poloniex has been too among others.

So you are all not free and in the clear.

Ask Ripple.. they were fined by FiNCEN  :D

Oh and see why i am the smart one here ?

https://www.sec.gov/investor/alerts/ia_virtualcurrencies.pdf
I am the one who posted that here on the forum way back. ;)

Oh and join the Cryptsy class-action lawsuit and maybe the Coinbase one brewing too.

Yeah, they are legal. Its why I love this market loool

It is important to define what level of illegality if it is illegal at all, which i doubt is case of US but Trading on exchanges in some countries is illegal, especially if they are out of borders.  Now why should be sellof would be illegal, its free trade and you can do whatever you want.. Some other things are illegal in this game but dump is natural.. ;D

I think it is legal because so far I didn't see any laws about it ,
And after all the pump and dumps are base on the supplies and demands so basically the traders are the ones who are doing it.

As fraudulent as it can be, this is perfect legal in crypto currently. If you consider price manipulation legal, then nothing can stop the pump and dump groups as well. I doubt if we can do anything about it really, so the main thing to do is go with the flow of this group. Just make sure that you are not going to be trap otherwise your investment will be lost.

Why would it be illegal? How else would people conceive? It's just nature man, all animals do it.  :-*

It is legal and unlegal in the same time :o
'cause that is not in the area of control most goverments

The types of pump and dumps that are illegal would be using false reports concealing the truly failing nature of the business you are investing in and the fraudulent nature of the price of its stock. In crypto you get what you pay for at the price you agreed to pay so you can't really complain about the pump and dumps because its just people buying and selling at agreed prices and no reporting to falsify.

It is more likely legal, because goverment doesnˇt care what you are doing with your money on the internet, but on the otherside they just cannot check it. I guess if they could than it could be qiet illegal  ;)

Well if you look at the stock market then insider trading is illegal but pump and dumps are legal. The same could potentially apply to crypto.