MMM affect bitcoin price

[Olaf]

Did not know about MMM before reading this post guys, it is sad to know it might have so much influence in Bitcoin. There is a lot of dark businesses moving in BTC 

You act like bitcoin isnt used for these things at all lol.

Come on man, theres always been a dark market for bitcoin at its birth, ever since the whole dark markets been created like silkroad way back in 2012 or younger.

[Jmild1]

MMM has no to very little effect to Bitcoin price. The only thing which is affected here would be MMM users. It doesn't involve Bitcoin community so I don't see any reason to discuss this ponzi scheme here. It's their choice to give money to ponzi promoters, I don't blame ignorant people.

You don't see how it affect the prices? Okay, try to imagine all those black markets and all those ponzis that uses bitcoin is washed out, what do you think will be the price of bitcoin? Probably the demand on bitcoin will surely dump the value of it.

[The Sceptical Chymist]

Did not know about MMM before reading this post guys, it is sad to know it might have so much influence in Bitcoin. There is a lot of dark businesses moving in BTC 

Yes that's true, but there are tons of Ponzis running right on this forum.  Bitcoin makes scams very convenient but I don't think btc's reputation should be tarnished in any way.  Cash is used for bad purposes as well, and more often, and for much longer than bitcoin.

[trenchflaint]

Did not know about MMM before reading this post guys, it is sad to know it might have so much influence in Bitcoin. There is a lot of dark businesses moving in BTC 

Yes that's true, but there are tons of Ponzis running right on this forum.  Bitcoin makes scams very convenient but I don't think btc's reputation should be tarnished in any way.  Cash is used for bad purposes as well, and more often, and for much longer than bitcoin.

Yup we cant let just say bitcoin is used for scam,all currency has been used for scam in the first place.
And that mmm is just pure scam they just used bitcoin to escalate even further about its scam.

[nydiacaskey01]

Try to join the Facebook groups of MMM and youll see how much BTC is changing hands on a daily basis as they tend to post their investment in Facebook hoping that their investment will be noticed by the ones who wants to withdraw their investment.

[alisafidel58]

Try to join the Facebook groups of MMM and youll see how much BTC is changing hands on a daily basis as they tend to post their investment in Facebook hoping that their investment will be noticed by the ones who wants to withdraw their investment.

Thats just part of the scheme the fact that they cant withdraw it since theres no new deposit coming in to their scam.
Hopefully no one will ever deposit in that scam.

[1Referee]

Try to join the Facebook groups of MMM and youll see how much BTC is changing hands on a daily basis as they tend to post their investment in Facebook hoping that their investment will be noticed by the ones who wants to withdraw their investment.

Don't believe anything from what these guys are spreading on their social media profiles. All is done to attract new with greed filled noobs.

[torontoluxuryhomes]

I think bitcoin price will surely fluctuate if people will leave MMM. What do you guys think?

there a was a china ponzi that effectively affect price of LTC.
But it's a different market, smaller size then btc, with 100$ dollars they buy 100 LTC.
So you can understand that with 100$ you can buy only a fraction of btc that people could "generate" easily selling something ...

Probably after crash of this ponzi we could see a good btc dump from "side investors" and from "owner" of this ponzi.

[armansolis593]

I think bitcoin price will surely fluctuate if people will leave MMM. What do you guys think?

there a was a china ponzi that effectively affect price of LTC.
But it's a different market, smaller size then btc, with 100$ dollars they buy 100 LTC.
So you can understand that with 100$ you can buy only a fraction of btc that people could "generate" easily selling something ...

Probably after crash of this ponzi we could see a good btc dump from "side investors" and from "owner" of this ponzi.

Ponzi wont affect the price of bitcoin they are just greedy bastard that only want to get rich.
They are getting ready to the coming of halving.

[BTCLovingDude]

I think bitcoin price will surely fluctuate if people will leave MMM. What do you guys think?

there a was a china ponzi that effectively affect price of LTC.
But it's a different market, smaller size then btc, with 100$ dollars they buy 100 LTC.
So you can understand that with 100$ you can buy only a fraction of btc that people could "generate" easily selling something ...

Probably after crash of this ponzi we could see a good btc dump from "side investors" and from "owner" of this ponzi.

yeah, i agree.
any effect these ponzi schemes or any other type of scams can have on bitcoin price is very small in comparison to total bitcoin market cap.
especially since these scams are mostly affecting people with no money and high hopes, so they will invest small amounts because they are poor mostly.

[tmfp]

Coincidence?

[BitcoinHodler]

scams are everywhere, not only in bitcoin and their being is not harming the currency they use for their evil doing.

[LMGTFY]

Coincidence?

Assuming MMM was largely responsible for the rise in BTC price in October/November, why did it stop correlating from mid-December onwards?

[tmfp]

Everyone's getting very defensive/protective about their beloved Bitcoin.

How about addressing the OP's point with a bit of logic?

FACT: MMMGlobal users must use Bitcoin in order to participate.
FACT: There are hundreds of thousands of them, if not millions, worldwide.
FACT: In the main, they appear to have no previous history of interest in Bitcoin.
FACT: The popularity of MMMGlobal has increased considerably since October 15.
FACT: The Bitcoin price has increased considerably since October 15.

Assuming MMM was largely responsible for the rise in BTC price in October/November, why did it stop correlating from mid-December onwards?

I'm not claiming to have all the answers, but the timeline suggests that the November spike could have been Chinese MMMGlobal inspired and the drop correlating with MMMChina freezing and bitcoin being pulled out of Global as well.
The continuation of the rise after the pullback could be inspired by the take up of Global in other countries, mainly Asia and South Africa.

[LMGTFY]

Everyone's getting very defensive/protective about their beloved Bitcoin.

How about addressing the OP's point with a bit of logic?

FACT: MMMGlobal users must use Bitcoin in order to participate.
FACT: There are hundreds of thousands of them, if not millions, worldwide.
FACT: In the main, they appear to have no previous history of interest in Bitcoin.
FACT: The popularity of MMMGlobal has increased considerably since October 15.
FACT: The Bitcoin price has increased considerably since October 15.

Assuming MMM was largely responsible for the rise in BTC price in October/November, why did it stop correlating from mid-December onwards?

I'm not claiming to have all the answers, but the timeline suggests that the November spike could have been Chinese MMMGlobal inspired and the drop correlating with MMMChina freezing and bitcoin being pulled out of Global as well.
The continuation of the rise after the pullback could be inspired by the take up of Global in other countries, mainly Asia and South Africa.

I don't disagree with any of the "FACTs" (though I'd note that the considerable rise in BTC price was limited to October/November - since November it's been mostly sideways with decreasing volatility), I just don't think MMM is as big a factor as it might at first appear. Not that long ago Silk Road was able to affect price dramatically, because it was (a) huge, and (b) effectively a monopoly. When SR closed its doors, BTC went down. Since then, a number of new Silk Roads have sprung up, and untold number of new ponzis, cloud-mining scams, HYIPs, etc. When MMM collapses I doubt it'll have nearly the same impact on BTC as when SR was closed, because there will remain a number of alternatives still active: MMM could well be bigger than SR, but proportionately it's smaller - it's just one player in what's become a much bigger game.

[lottery248]

do not ever get affected by MMM, that ponzi company is bumping the bitcoin price, but when it collapses, it will pull the price of bitcoin down due to the panic sell for the people who are safe from the collapse. MMM is not helpful to the bitcoin at all.

[RoommateAgreement]

Coincidence?

what is the scale of this chart? the left chart is cut!

[LMGTFY]

Coincidence?


https://i.imgur.com/RZQLJQQ.png

what is the scale of this chart? the left chart is cut!

The line below the arrow is about $250, the line at the peak is $500.

[RoommateAgreement]

The line below the arrow is about $250, the line at the peak is $500.

thanks for the link.


so this Coincidence means that MMM, or better said people falling for MMM which are mostly from poor third world countried according to Alexa raised the price from $250 to $500 or in other words caused a massive rise market cap (from 3.6 to 6.4 billion dollars) which is 280,000,000 USD increase in 24 hour volume

that doesn't sound right to me.

[Jmild1]

The line below the arrow is about $250, the line at the peak is $500.

thanks for the link.


so this Coincidence means that MMM, or better said people falling for MMM which are mostly from poor third world countried according to Alexa raised the price from $250 to $500 or in other words caused a massive rise market cap (from 3.6 to 6.4 billion dollars) which is 280,000,000 USD increase in 24 hour volume

that doesn't sound right to me.

MMMglobal transact million of dollar in depositing and withdrawng money via bitcoin. From this area you know that it affect the bitcoin value becuase we're talking about "Million"