Is bitcoin pump n dump illegal?

[metstijl]

Just question many confuse.

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[gentlemand]

No. Not at all. It's not regulated in the way conventional markets often are. The price is at the mercy of anyone in a mercurial mood with sufficient cash.

[knightcoin]

pump'n'dump is not exclusive to cryptocurrency ...

[Gimmelfarb]

until we see more clear regulations come, and i'm sure we will see more in the next 3-5 years, it's the wild wild west. who is going to do anything about it? not the SEC, not the CFTC. not yet, anyway.

[jeffersonairplane]

Not now it isn't. As said above, years from now I can guarantee there will be more strict regulations on this type of stuff when it becomes more and more popular.

[knightcoin]

[teukon]

Not now it isn't. As said above, years from now I can guarantee there will be more strict regulations on this type of stuff when it becomes more and more popular.

Maybe not a guarantee, but highly probable.  Fortunately, it is fairly likely that distributed forms of exchanging wealth will be sufficiently well-developed to render such regulations ineffective.

[HarHarHar9965]

give it a few years. it'll be regulated just the same as penny stocks or any other illiquid instrument and i cant imagine pump and dump will be legal.

[tooil]

Most alt coins operate this way.

And many of the buyers are experience crypto users. So it is a shark eat shark world.

[Benjig]

I think pump and dumps in bitcoin are almost not happening at this point, the alt coins are the ones that some whales use only to orchest their pump and dumps, like fontas. but be aware of those pump announces , they really dont pump the coin, they wait until you pumped it so they can dump all their coins over you at the top of the bubble.

[teukon]

I think pump and dumps in bitcoin are almost not happening at this point, the alt coins are the ones that some whales use only to orchest their pump and dumps, like fontas.

I'd love for this to be true but I fear that simple pump-and-dumps with Bitcoin may well be profitable given enough funds.  Certainly, the bitcoin market has been slowly building resistance to such schemes in the past few years and I very much hope this continues to the point where even advanced and well-timed pump-and-dumps by very large holders are almost always unprofitable.

[Coinsera]

until we see more clear regulations come, and i'm sure we will see more in the next 3-5 years, it's the wild wild west. who is going to do anything about it? not the SEC, not the CFTC. not yet, anyway.

Right
Actually delay in the cleared regulations are due to different states and countries have different view on this currency. Because all the way this is property and earnings should be taxed.

Thanks

[DolanDuck]

In this early stage of bitcoin life, with no regulations among countries, pump and dumps of btc or any other alt currency aren't illegal.
Maybe in the future it will be, but I think the time isn't near at all.

[Mayuyu48]

not illegal, bitcoin still don't have any regulations
pump-dump scheme based on capitalist free market, somebody with more money / BTC can steer the prices
maybe in the future we will see regulations about BTC trading, i.e : short-sell is not allowed in BTC trade

[cr1776]

Just question many confuse.

It also varies by jurisdiction. What may be illegal one place may not be illegal another. So without specific young where you are asking about it is difficult to answer.

[Mervyn_Pumpkinhead]

pump'n'dump is a gamble to everyone... if you begin to pump, then maybe there's a whale lurking for a chance to dump on your pump.. but maybe it will pull other people in, who will buy after you and will rise the price enough, so you you can dump with profit... who knows.

Well, like with every gamble, you can lean the probability towards your goals by knowing more then other gamblers. In the crypto world, the best informed gamblers are the same people who own the exchanges. They have access to information that isn't public and that can be vital in analyzing the market.

For this reason, I think that the crypto world is more concentrated that most could imagine. The exchanges aren't only raking in money by service fees, but by insider trading. I wouldn't be surprised if many of the exchanges are actually owned by the same people but have different public facades.

[Shallow]

No, cause bitcoin is currently like the wild west where anything goes

[Amph]

give it a few years. it'll be regulated just the same as penny stocks or any other illiquid instrument and i cant imagine pump and dump will be legal.

how?

all coins will become anon in the future(bitcoin also), no way you can track all those crappy alt traded for btc(not fiat)

even if you can block exchange, they can be traded via forum, it's really impossible to regulate this chaos

[giantdragon]

What country will regulate?!! If any do, exchanges in other countries will just use advantage to attract customers from it!

[odolvlobo]

Of course it is illegal. It is fraud. Bitcoin is not immune to prosecution for fraud: Trendon Shavers is looking at jail time for running his Bitcoin ponzi scheme. It doesn't matter if Bitcoin is regulated or not.

Edit: If bitcoin is not a security, then section 17(a) doesn't apply.