Pump & Dump is "no longer" an acceptable term in crypto currency

[GordanCrypto]

Pump & Dump is "no longer" an acceptable term in crypto currency, it cheapens this technological innovation that will change our financial landscape

Greetings Yung Astronauts!
 
I would like to start by saying, "There is no such thing as a bad child". I believe that children learn what they live and are products of their everyday surroundings whether it be poverty or prosperity. With that said, "There is a such thing as a bad child in crypto currency". A "wild child" who is rapidly creating new coins, mining at the speed of light and then reaping rewards through fraudulent methods of exchange trading. This means of trading is called a "Pump & Dump Scheme" and is a criminal offense on Wall Street that comes with fines, forfeiture, incarceration, parole and restitution. I know your yung minds are saying, "It's unregulated, we can do whatever we want!" But the reality is if crypto currency were regulated you would be considered a criminal. Understanding crypto is one thing, understanding securities law & regulation is another.
 
My point is obvious to a seasoned investor, but would be inconceivable to a yung crypto investor. NYS will be the first to basically take control of Bitcoin in the form of a license and adopted rules which I believe to be a hoax. They haven't a clue on what they are doing from the public eye and are cooperating wanting Bitcoin to work. I believe this to be true, but I also believe it to be a slight of hand on their behalf. Why? NYS regulation has nothing to do with CFTC, Federal, FINRA, or SEC regulation in the US. Ex: Medical Marijuana is legal in some US states, but not federally legalized in "any" US states, same premise will apply to Bitcoin. So now we have COIN? The brainchild of the Winklevoss stooges, a joke when they got robbed of Facebook and a still a joke today in my book. Money doesn't come with brains, these guys pay "so-called" trusted advisors, for me to take these guys serious would be a cardinal sin. They are giving Bitcoin away to it's natural born enemy, "the state" and selling it out commercially for their own personal financial agenda and objectives. Much like MC Hammer or Vanilla Ice were accused of. Hey, "Let's give this kitten to the pitbull's." I wonder what Satoshi Nakamoto is thinking? Remember Bitcoin was created for equality, not for the rich to get richer, while gaining MORE control. Why even support BTC? It will become another version of USD if we are not careful.
 
However, COIN which is an ETF created by the Winklevoss twins is a Bitcoin oriented Exchange Traded Fund based on the WinDex market price of Bitcoin which is Winklevoss created. I believe in the concept completely, but I believe COIN should have been launched on Coinbase as their "second" investment product which would have helped in the "self regulation" of Bitcoin, not the "joint regulation". Coinbase has enough capital and support to do this and the Winklevoss twins are in bed with them. Their sole reason for listing on NASDAQ is to gain mainstream "investor" exposure and trap real whales or bag holders they so "urgently seek" to profit tangibily on Bitcoin. The twins cannot possibly sell off their BTC, it would kill it! They need to "cross out" of their position at equal pricing (both buyer/seller) to keep the price stabilized the old fashioned way, the Wall Street way. They need new blood, new money. The 2 stooges own a total of 1% of all Bitcoin's mined, so new capital will allow them to "gently liquidate" their valuable holdings and convert them to USD. They do not believe in Bitcoin, they believe in capitalism and this is their EXIT strategy. By their doing, Bitcoin will now be sanctioned by a whole "new" set of rules outside of NYS. These rules will be enforced by FINRA and the SEC if the COIN ETF gets a NASDAQ listing, it is mandatory or the Winklevoss ETF cannot list and that is a fact. My reasoning, You cannot get half pregnant!
 
Without boring you with all of the stock market rules and regulations, upon COIN's listing I would have to believe any NYS/US Bitcoin related exchange and/or investment vehicle will eventually fall under strict FINRA/SEC federal regulation. NYS regulation will act somewhat like the Investment Advisory Act Of 1940 to govern states individually. FINRA/SEC regulation will cover the markets in general like other investments. We might see CFTC regulation enforced if ever Bitcoin is reclassified as a commodity. So it is important to understand they are going to enforce similar regulation to Bitcoin as they did FOREX, gold, and other precious metals in which the physical side is still the wild west. They want to enforce the sale of Bitcoin, so they can weed out some who have made bad decisions in the past which is about 50% of adult crypto. Restricting people who have a criminal past or securities related charges is a standard position taking on Wall Street for investor protection purposes. While they appear to be protecting the public, their white shoe friends will take over Bitcoin and sell it through all the major wire houses generating commission checks and capital gain tax for everybody!!! I see Bitcoin's future, I really do. It's gonna work well, but we will lose our foot hold as a community, It will just become another form of Paypal.
 
So my rant on regulation is simple. When the IRS classified Bitcoin as an asset everything was "retroactive". Let's say they impose federal regulation and do the same thing? We are looking at many crimes committed in crypto currency and many people going to crypto prison. My main objective of this post is to educate our youth on the future laws to come. Pump & Dump is "no longer" an acceptable term in crypto currency, it cheapens this technological innovation that will change our financial landscape as we know it yesterday. When an investment trades higher in value on Wall Street it's called a "price increase", "surge in value" or something of that nature. Please understand Yung Astronauts you were taught wrong, choose your words wisely. Become the good children of crypto currency and make more money developing the alt coin side of Bitcoin, it is "our" only hope for a future with anonymity.

Talk at cha'
 
Gordan
@GordanCrypto

[P33n]

I think this is very much what happens with the vast majority of the alt coins out there today. There is no reason not to use that terminology for what the creators of these alts do.

[Xiaoxiao]

Good post yungin'

[franky1]

I think this is very much what happens with the vast majority of the alt coins out there today. There is no reason not to use that terminology for what the creators of these alts do.

very true. altcoin creators do infact pump and dump. and so renaming their actions does not make those actions any better, and thus its not the terminology that needs changing but the fact that people need to actually stop making coins purely for short term profit and then run off leaving other holding a bag of valueless assets.

what the OP needs to be teaching the young crowd is that they will / should be accountable to their actions especially if it involves other peoples investments.

renaming their scammy actions solves nothing, either for the betterment of the community or even for the legal status of the scammy actions of alt coin creators

[NUD]

Greedy idiots and pump & dumpers deserve each other perfectly, there is plenty of both.

[Ludi]

It's never been an acceptable term. The only people who seem to use it are alt coin / crapcoin turds. You never really see that phrase other than in the alt coin section where it is prolific.

[TheButterZone]

Correct, there is only dump, and dump, and dump, and dump... see you at $1 USD/BTC.

[wasserman99]

I think this is very much what happens with the vast majority of the alt coins out there today. There is no reason not to use that terminology for what the creators of these alts do.

very true. altcoin creators do infact pump and dump. and so renaming their actions does not make those actions any better, and thus its not the terminology that needs changing but the fact that people need to actually stop making coins purely for short term profit and then run off leaving other holding a bag of valueless assets.

what the OP needs to be teaching the young crowd is that they will / should be accountable to their actions especially if it involves other peoples investments.

renaming their scammy actions solves nothing, either for the betterment of the community or even for the legal status of the scammy actions of alt coin creators

I agree. Most alt coins serve no other purpose other then to enrich their creators and the people that are paid to market them. This is even more true with the majority of the coins that have come out all of this year and most of last year. With very few exceptions alt coin creators are not even trying to make their coins better then others.

[betterangels]

Correct, there is only dump, and dump, and dump, and dump... see you at $1 USD/BTC.

prepare yoursfelt, dump, and dump, and dumpity dump incoming!  

[reck1ess]

I think this is very much what happens with the vast majority of the alt coins out there today. There is no reason not to use that terminology for what the creators of these alts do.

very true. altcoin creators do infact pump and dump. and so renaming their actions does not make those actions any better, and thus its not the terminology that needs changing but the fact that people need to actually stop making coins purely for short term profit and then run off leaving other holding a bag of valueless assets.

what the OP needs to be teaching the young crowd is that they will / should be accountable to their actions especially if it involves other peoples investments.

renaming their scammy actions solves nothing, either for the betterment of the community or even for the legal status of the scammy actions of alt coin creators

That is why some altcoin are now being check through their IP and their codes to check if it was just being reused or it has same IP with a previous altcoin.

[Yeti011]

We are a group of people that are sick and tired of getting destroyed by PRE PUMPED PUMPS. Today is really hard to find a decent group that has regular pumps and that communicates well with the community.

That is why we decided to make our own group, Apollo Pumps. No ranks,no pre pumps, no scams,no premium. Same rules and conditions for everybody.
 
The more people you bring to the group the more BTC you get.

Also 5 person that lost money in the pump will be randomly chosen and will get a refund.

The pumps will start once we hit 1000 members.

The idea in the future is to have minimum 5 pumps a week.

Help us create a group that you are looking for. .

https://discord.gg/BefTxbn
 

[Xester]

In our society we have the so-called technical terms and the common terms. The technical terms refers to the proper words to describe such thing, event or technology while the common term are the words being used by the masses to describe a thing, event or technology. For me the technicality on wordings doe not really give an impact, common terminology such as pump and dump does not make bitcoin cheap but if these words is easily understood by the public then I will go for it.

[MUSFIKAR]

You are confused where the coins to buy is not for buying then i want to share my channel with you for free and all calls are very fast, not some calls but everything touches to the moon. The only people who seem to use it are altcoin or crapcoin. You never really see the phrase other than in the altcoin section where it is productive instead.

[reddev81]

pump and dump groups give the whole crypto space a bad rep. I personally stay clear of investing in coins with small market cap and volume..they can be easily manipulated.

[babyandreas]

I think this is very much what happens with the vast majority of the alt coins out there today. There is no reason not to use that terminology for what the creators of these alts do.

very true. altcoin creators do infact pump and dump. and so renaming their actions does not make those actions any better, and thus its not the terminology that needs changing but the fact that people need to actually stop making coins purely for short term profit and then run off leaving other holding a bag of valueless assets.

what the OP needs to be teaching the young crowd is that they will / should be accountable to their actions especially if it involves other peoples investments.

renaming their scammy actions solves nothing, either for the betterment of the community or even for the legal status of the scammy actions of alt coin creators

Most of coin created to get more than money for co-founder and don't make anything after!

[alani123]

Pumps and dumps happen every day in crypto. There are several exchanges trading the same pairs and nobody can impose the same rules on all of them. Instances of painting the tape have been even observed. Pumps and dumps are even easier to facilitate with only volumes required. Just look at how many upward and downward spikes there have been in USDBTC markets over the last few weeks pushing the price up and down $200 at a time with a single order.

[KorakPawon]

it's one of the weaknesses of bitcoin we can manage it, we can set the price when the price is falling by way of Pump & Dump sometimes it is very misleading most who identify that the volume of nicoin is high but only done by some people alone, they do it in an effort to make prices rise or stabilize when prices are below

[Dapper]

Well, most folks around here don't seem to even understand the definition of pump and dump...   Look at all the people who say "will it pump?" when referring to the current btc price.    That's something you ask someone who has a broken bicycle or bilge pump.