Oh, market manipulation is finally bad now?

[cryptoperkele]

How come almost on-one didn't bat an eye when Elon was pumping BTC by tweeting about it? In fact people were encouraging him to tweet about BTC or doge, and now it's suddenly market manipulation and potentially illegal when he is tweeting shit about it and it's going down?

[BlackHatCoiner]

How come almost on-one didn't bat an eye when Elon was pumping BTC by tweeting about it?

If he was just “pumping” Bitcoin, then why didn't it dump? When a rich person manipulates the market, he only does it temporary. Just like now, that he's presenting Bitcoin as something bad. This isn't going to last long. I'd rather consider this as a correction, brought to us by Elon, than a dump.

But besides that, why shouldn't we be fine when a person tweets that he's in agreement with something we've all put our money on? We do know that it has a bright future and any extra words that will increase its value sooner aren't going to be seen as a “pump” by me.


On the other hand, dogecoin doesn't provide anything. It's just a fork that won't last long. We may observe some market craziness, since their community is quite bullish (and toxic). I won't be surprised if I see this meme coin passing Ethereum in market cap. (Sure, short-termly)

But you know what would come next...

[xonar2]

How come almost on-one didn't bat an eye when Elon was pumping BTC by tweeting about it?

If he was just “pumping” Bitcoin, then why didn't it dump? When a rich person manipulates the market, he only does it temporary. Just like now, that he's presenting Bitcoin as something bad. This isn't going to last long. I'd rather consider this as a correction, brought to us by Elon, than a dump.

But besides that, why shouldn't we be fine when a person tweets that he's in agreement with something we've all put our money on? We do know that it has a bright future and any extra words that will increase its value sooner aren't going to be seen as a “pump” by me.


On the other hand, dogecoin doesn't provide anything. It's just a fork that won't last long. We may observe some market craziness, since their community is quite bullish (and toxic). I won't be surprised if I see this meme coin passing Ethereum in market cap. (Sure, short-termly)

But you know what would come next...

I wouldn't say he presented it as "bad". He brought up some valid points, like a single power outage in a remote part of China causing a mining corporation to go offline. Which caused 35% of the total Bitcoin network hashrate to drop.

This is far from the decentralized original idea of Bitcoin. He has a valid concern.
A few gigantic ASIC miners have hogged up the vast majority of the total network hashrate. Small individual miners, mining in pools, are now maybe ~5% of the total global hashrate.

[BlackHatCoiner]

He brought up some valid points, like a single power outage in a remote part of China causing a mining corporation to go offline.

It didn't cause 35%, but a 16.5% loss of the exahashes per second. As for the single power outage, it isn't a sign of centralization the fact that a country faces coal disruptions. If you search it, you'll find out that other cryptos had their difficulty decrease as well, but their difference was smaller compared to Bitcoin. It's just because these pools work more on extending Bitcoin's chain.

This is far from the decentralized original idea of Bitcoin.

That was the actual concept from the beginning! I'm quoting:

For now, everyone just runs a full network node.

I anticipate there will never be more than 100K nodes, probably less.  It will reach an equilibrium where it's not worth it for more nodes to join in.  The rest will be lightweight clients, which could be millions.

At equilibrium size, many nodes will be server farms with one or two network nodes that feed the rest of the farm over a LAN.

If the network becomes very large, like over 100,000 nodes, this is what we'll use to allow common users to do transactions without being full blown nodes.  At that stage, most users should start running client-only software and only the specialist server farms keep running full network nodes, kind of like how the usenet network has consolidated.

He has a valid concern.

Of course and he has a valid concern... of keep getting richer! How can this not seem suspicious to you? Tesla buys $1.5B bitcoins, starts accepting it as a payment method for car purchase, then the Bitcoin price rises and oops! They aren't accepting it anymore because of its environmental effects while the majority of the hashes comes from renewable energy sources...

It so obvious that they want to buy the dip.

As for Dogecoin: Around 65% of the coins are owned by whales and big investors. Doesn't it stink to you that he promotes it and wants to purposely send it to the moon?

[Tytanowy Janusz]

I wouldn't say he presented it as "bad". He brought up some valid points, like a single power outage in a remote part of China causing a mining corporation to go offline. Which caused 35% of the total Bitcoin network hashrate to drop.

This is far from the decentralized original idea of Bitcoin. He has a valid concern.
A few gigantic ASIC miners have hogged up the vast majority of the total network hashrate. Small individual miners, mining in pools, are now maybe ~5% of the total global hashrate.

Do you think that Elon bough (as Tesla company) $1B worth bitcoin without researching it? Every point that he brings now was well known by every investor and by him in the moment of his investment. He is just fudding now for his own purposes (short term price manipulation).

Whoever thinks that Elon is surprised by BTC energy consumption or BTC decentralization now ... months after financial decision of purchasing 1B worth bitcoin is crazy. Everyone who thinks he is fudding before selling his bags is even more crazy.

BTW:

https://www.dw.com/en/tesla-shares-tumble-as-musk-says-companys-stock-is-overvalued/a-53308317

Elon musk saying that Tesla stock is overvaluated ... TSLA @ 160$ back then. It pumped to 900$ 8 months later.

[mr_ROBOTT]

We may not know Elon's business policy well, but we know that rich people look at their own pockets, not the market situation!
Elon tweaks the trading volume and price of bitcoin with a tweet, and lowers the price by talking about the evils of bitcoin (which he has just discovered).
But going back to a few months ago, we see that Tesla sold a large amount of its bitcoins earlier in the year (at peak prices), and then Elon realized that bitcoins were bad.
This is a dirty policy

[vennali]

How come almost on-one didn't bat an eye when Elon was pumping BTC by tweeting about it? In fact people were encouraging him to tweet about BTC or doge, and now it's suddenly market manipulation and potentially illegal when he is tweeting shit about it and it's going down?

When people start losing their hard earned money is when shit hits the fan. Elon has turned from their messiah into a villain in merely days. I had spoken against his manipulation of Doge and BTC earlier even when it was positive, I will speak up against him now with negative change. He isnt good for the crypto community as he doesnt even understand how it works. All he knows about is money and how to make more of it by using his influence. There needs to be some sort of action taken against him for the manipulation he's done so far. Maybe he knew he could get away with this with no stern regulations put in place for crypto. 

[tyz]

How come almost on-one didn't bat an eye when Elon was pumping BTC by tweeting about it? In fact people were encouraging him to tweet about BTC or doge, and now it's suddenly market manipulation and potentially illegal when he is tweeting shit about it and it's going down?

That's too easy. No matter which market you choose, everything is "manipulated" by certain factors. Just look at stock markets. They are not so high because the economy is doing so well, but because the central banks are throwing extremely cheap money onto the market and thus driving up prices. In the crypto sector, one such factor is Elon currently. Back in 2015 and 2016, it was partly China. I still remember phases where crypto prices had plummeted massively just because China allegedly wanted to ban crypto. Every time has its manipulators.

That's part of the business! Deal with it or stay away!

[helvinho]

i think this isn't a dump from ELon, i might be wrong, but im buying this "dip".


 

[MFahad]

How come almost on-one didn't bat an eye when Elon was pumping BTC by tweeting about it? In fact people were encouraging him to tweet about BTC or doge, and now it's suddenly market manipulation and potentially illegal when he is tweeting shit about it and it's going down?

I never think that bitcoin should be dependent on one man tweet. He tweets positively about bitcoin and market pumps. He tweets negatively about the dumps and the market dumps. That's not how the market should behave and react on his tweets. This is not good for the overall crypto. The market should grow naturally without any single man influence.

[capcaypro]

This week has been a very bad week as long as I've been investing in bitcoin because I've seen my assets shrink so much.
but it's okay because this is a process I have to go through as long as I have this asset.
regardless of manipulation or whatever it is according to people I just want to focus and keep my assets in bitcoin because I believe this is only temporary.
other than that I'm not sure if bitcoin can be pumped with just one tickle. for doge maybe elon musk could be because doge is just a small coin so many people will follow it but for bitcoin it's different

[Raflesia]

This week has been a very bad week as long as I've been investing in bitcoin because I've seen my assets shrink so much.
but it's okay because this is a process I have to go through as long as I have this asset.
regardless of manipulation or whatever it is according to people I just want to focus and keep my assets in bitcoin because I believe this is only temporary.
other than that I'm not sure if bitcoin can be pumped with just one tickle. for doge maybe elon musk could be because doge is just a small coin so many people will follow it but for bitcoin it's different

You have to be optimistic about what you hold, I am sure if only one coin you have, call it bitcoin, is not a big matter about the decline of the market from shrinking the estimate, it is natural, this is still a fairly large correction, but remember all this will end with recovery where the threshold of bitcoin will stay safe in the future except for altcoins.

Apart from the much news that Elon Musk has influenced bitcoin a lot and the doge has become a habit for him to continue to make history in the changing crypto market, examples such as doge from small to big prices are only natural if he does so.

But remember to keep the bitcoins in your bag and try again after recovering this is not the end of any dump attempt.

[hannahB4]

How come almost on-one didn't bat an eye when Elon was pumping BTC by tweeting about it?

If he was just “pumping” Bitcoin, then why didn't it dump? When a rich person manipulates the market, he only does it temporary. Just like now, that he's presenting Bitcoin as something bad. This isn't going to last long. I'd rather consider this as a correction, brought to us by Elon, than a dump.

But besides that, why shouldn't we be fine when a person tweets that he's in agreement with something we've all put our money on? We do know that it has a bright future and any extra words that will increase its value sooner aren't going to be seen as a “pump” by me.


On the other hand, dogecoin doesn't provide anything. It's just a fork that won't last long. We may observe some market craziness, since their community is quite bullish (and toxic). I won't be surprised if I see this meme coin passing Ethereum in market cap. (Sure, short-termly)

But you know what would come next...

I can't agree with you more on this issue of Elon Musk tweet and it negative effect on Bitcoin, it just a phase in the history of bitcoin and we will remember this time later in the future and smiled that we are still holding bitcoin because all is plans won't last.

[decodx]

Do you think that Elon bough (as Tesla company) $1B worth bitcoin without researching it? Every point that he brings now was well known by every investor and by him in the moment of his investment. He is just fudding now for his own purposes (short term price manipulation).

Whoever thinks that Elon is surprised by BTC energy consumption or BTC decentralization now ... months after financial decision of purchasing 1B worth bitcoin is crazy. Everyone who thinks he is fudding before selling his bags is even more crazy.

Probably the best comment I've seen on this topic in recent days!

Rich people, including Musk, do what they know best; make more money - for themselves. What makes anyone think his tweets can be of value to anybody else but Musk?
The best curse of action, if Musk says Bitcoin's good - start selling, if Musk says Bitcoin's bad - load your bags with even more coins. This is probably what he does as well!  

[fiulpro]

Market Manipulation was always bad.
First of all we have never seen market being Manipulated this fiercely and this out in the open. Did you see any legit whales in the past trying to do everything that Elon Musk is doing right now ? Most of the times we have dumps and crashes without knowing since all the whales had like a secret society I believe but right now the person is actually doing all this out in the open.
He is saying all these positive things about Bitcoins a month ago and at the same time buying them like crazy and guess what ? ... Didn't he realize that it was inefficient with the energy like years before ? What was this sudden realization and dump ? He just made a profit out in the open and now he is running away to doge coins.
It had been illegal since the time being.
Well at least I will give pros to the man for actually telling people to buy doge since he is going to pump up the price.. therefore I believe the small Investors can get profited here but at the same time that does not make it any better.
Anyways he is going to dump the bitcoin again like everything they have soon and then apparently he wants buy them again -_- read the tweets be post.. I thought he is an intelligent guy , but alas.

[hulla]

How come almost on-one didn't bat an eye when Elon was pumping BTC by tweeting about it? In fact people were encouraging him to tweet about BTC or doge, and now it's suddenly market manipulation and potentially illegal when he is tweeting shit about it and it's going down?

Elon is not the major player in the crypto market, it the naive investors that use his tweet as investment advice that make him feel like a super man but he still can't manipulate the market this big.
Nevertheless, there's alot of things that help the current dump in price of the market though Elon exit tweet and those things that cause dump happen almost the same time that's why we are experience big dump now.

[sheenshane]

In any type of investment, manipulation was there not only in crypto.

It is really funny how it works and Elon Musk doesn’t give a damn with cryptocurrencies before, but due to the people’s demand, he decided to try it out and find cryptocurrency as brilliant.  But for me, I don’t think we had to worry about it.  Elon Musk is equipped with a lot of best advisors on his payroll that would help him strategize their decisions.

It is funny as on the other side when Mark Zuckerberg posted a picture on his Facebook account with his goats and has a caption with their names and they were called Bitcoin and Max, we all know that it was one of the greatest moves on how not to be sanctioned but still let the people know that they have to invest in Bitcoin.

[hatshepsut93]

People aren't just angry that Elon Musk is criticizing Bitcoin, it's the fact that he does so with poor-researched arguments that have been around for years. His latest tweets about Doge's blocksize repeat the same position that was voiced in 2017, and we all can see what happened to BCH and BSV. The climate argument is also nothing new. This isn't even a manipulation, just very erratic and childish behavior.

[cabron]

Well, manipulation is bad when that someone who manipulates knows nothing about crypto. Just recently he tweeted that he is going to make doge 10x faster than the 1 minute block time. By this comment alone, how did he come up with that upgrade without thinking of the ecosystem balance?

And then comment that BTC is centralized. The only reason why it's centralized is that he has money to make it and his followers who are dumbed enough to follow him.

[carlfebz2]

How come almost on-one didn't bat an eye when Elon was pumping BTC by tweeting about it? In fact people were encouraging him to tweet about BTC or doge, and now it's suddenly market manipulation and potentially illegal when he is tweeting shit about it and it's going down?

Expect for those things to happen because this market is highly reactive when it comes to news or simply with fundamentals depending on the person/company is trying to make out some sentiments

neither a positive or negative ones and this isnt something new if you've been here on this market for a while where these things do pop out from nowhere and viola the market made out some

movements but doesnt mean nor precisely direct out on that certain news because sometimes market doesnt really react from time to time.So its really hard to tell.