Fontas - will he kill crypto-currencies?

[Altoidnerd]

Rewording the question a little bit:

Are crypto-currencies so fragile that a single person can destroy them?

Not all clearly but he ruined COL. It was worth about .0000000024 or something and now its at like .0000000004. I'm probably off with those 0s.

And he didn't ruin COL.  COL is simply far too numerous to be traded right now.  A bunch of people need to give up, take the loss, not care, and leave the exchange.  Eventually COL will be traded.  Many ciurrencies display this behavior of actually being traded for over a month between 01 and 02.  Then suddenly rising permanently.  

The same thing is happening with CENT.  I did buy CENT 01 LTC thinking there was no way to loose.  Haha I was wrong.  CENT is also sold on the XPM market. >;/

[Altoidnerd]

From twitter->reddit:

Not to defend fontas, but that is definitely not him talking.  There are a bunch of fontas copies on twitter and one of them speaks shitty english as well.  This is fake.  Fontas is articulate.

[Speaker]

From twitter->reddit:

Put his twitter page in the background. Makes it more credible.

[CoinHoarder]

EDIT: nevermind

Not to defend fontas, but that is definitely not him talking.  There are a bunch of fontas copies on twitter and one of them speaks shitty english as well.  This is fake.  Fontas is articulate.

I apologize, I will remove the link to the image.

[Altoidnerd]

I apologize, I will remove the link to the image.
[/quote]

Oh I don't care.  I'm just throwing it out there that isn't fontas.  Fontas uses the english language to his advantage always.  

Also, once again, not to defend fontas at all, but it is certainly mathematically possible for a man to profit off a large volume pump and dump even if he is acting all alone, having told nobody, and having made no prepump.  An example of such a technique was used on gox 11-29 and I screen capped it.

Take a look and think about the average buy price for the big green bar and the average sell price.  I cant be sure, but let us suppose this were one man who put in a market order for looks like 3000 BTC.  This is to his advantage if he can break the sell wall which is concentrated at a low price.  So though he was able to kick the price up form 1159 to 1225 (thats amazing!), he paid an average price on the low side.  Then look at the reaction of the market.  They brought the price up higher, fooled by the trap.  Just as fontas says and even draws a picture of one of his pumps on BTC-e.  The same thing happened here on gox to bitcoin  itself.  Look like this guy sold off most of the BTC for a higher price...

Lets say he make the buy order paying a mean of 1175 bringing the price up to 1220.  Notice that is exactly where he sold at.  But in the time fram between the pump and the dumo, the market brought its buy wall higher.  The ne result is he buys 3000 BTC @$1175 and he sells 2700 BTC @$1208 mean.  So thats

Buy cost:  3000*1160 = $3480000
Sell return: 2700*1210 = 3267000

Net cost: $213,000 and gain of 300 BTC.  Thats a bitcoin discount.  If the order book looks perfect, it is more than plausible to profit immensely by letting the market carry up the moving averge this way.

[CoinBuzz]

of course not.

[Walter Rothbard]

Rewording the question a little bit:

Are crypto-currencies so fragile that a single person can destroy them?

I thought about this overnight, and I decided, yes, cryptocurrencies are this fragile, and fontas will destroy them, so you should all sell what you have immediately.

Just a helpful tip.

[VforVictory]

Fontas is a myth; told by parents to scare their children from entering the market.

[niothor]

A fool is born every minute.

Just be glad you are not one and be on your merry way.

The majority of bitcoin traders have not even HEARD of Fontas and if they did, would be unconcerned. He is just another dude trying to make bank in a sea of dudes trying to make bank.

He has found a way to make money. If people lose money, they have learned a lesson. Some lessons are very expensive to learn. Like college in America, you learn enough to get a degree and it costs $40,000 a year at a private university. Some would say you have also learned the lesson not to get into tons of debt, as well as the lesson not to buy into bubbles at the top (in this case, the higher education bubble.)
Well with Fontas, a foolish individual might pay BTC120  and learn enough to not pay BTC120 into pump schemes. An expensive lesson, but a lesson well-learned.

Yup.

I came in the thread wondering who the Hell this guy was. I was hoping he was some kind of cheese-maker... Could we maybe turn this into a fontina porn thread?

From wondering who Fontas is , I ended up wondering what the hell this might be?

[Walking Glitch]

Fontas is a myth; told by parents to scare their children from entering the market.

Lol Back in my day we used to see him in the trollbox constantly.

[Speaker]

His twitter is closed and he got arrested.

[CryptoBeggar]

I heard he might not even be among us anymore... He played high, risked big, ended like that...